EXHIBIT 12
Abbott Laboratories and Subsidiaries
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Unaudited)
(dollars in millions except ratios)
Year Ended December 31
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2000 1999 1998 1997 1996
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Net Earnings $2,786 $2,446 $2,334 $2,079 $1,874
Add (deduct):
Income taxes 1,030 951 908 856 788
Capitalized interest cost, net of amortization (3) (1) 1 (1) (4)
Minority interest 8 8 7 11 16
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Net earnings as adjusted $3,821 $3,404 $3,250 $2,945 $2,674
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Fixed Charges:
Interest on long-term and short-term debt $ 114 $ 145 $ 160 $ 135 $ 96
Capitalized interest cost 18 13 14 14 16
Rental expense representative of an interest factor 48 44 40 29 26
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Total Fixed Charges 180 202 214 178 138
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Total adjusted earnings available for
payment of fixed charges $4,001 $3,606 $3,464 $3,123 $2,812
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Ratio of earnings to fixed charges 22.2 17.9 16.2 17.5 20.4
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NOTE: For the purpose of calculating this ratio, (i) earnings have been
calculated by adjusting net earnings for taxes on earnings; interest
expense; capitalized interest cost, net of amortization; minority interest;
and the portion of rentals representative of the interest factor, (ii) the
Company considers one-third of rental expense to be the amount representing
return on capital, and (iii) fixed charges comprise total interest expense,
including capitalized interest and such portion of rentals.