EXHIBIT 12 ABBOTT LABORATORIES AND SUBSIDIARIES CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES (Unaudited) (Millions of Dollars) THREE MONTHS ENDED MARCH 31 1994 -------------- Net Earnings $ 366 Add (deduct): Income taxes 157 Capitalized interest cost, net of amortization (2) Minority interest 3 ------- Net earnings as adjusted $ 524 ------- Fixed Charges: Interest on long-term and short-term debt 11 Capitalized interest cost 5 Rental expense representative of an interest factor 6 ------- Total Fixed Charges 22 ------- Total adjusted earnings available for payment of fixed charges $ 546 ------- ------- Ratio of earnings to fixed charges 24.8 ------- ------- 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.