EXHIBIT 12
ABBOTT LABORATORIES
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Unaudited)
(Millions of Dollars Except Ratios)
Year Ended December 31
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1994 1993 1992 1991 1990
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Net Earnings . . . . . . . . . . . . . . . . . . . . . . . . $1,517 $1,399 $1,239 $1,089 $ 966
Add (deduct):
Income taxes. . . . . . . . . . . . . . . . . . . . . . 650 544 500 456 385
Capitalized interest cost, net
of amortization. . . . . . . . . . . . . . . . . . (7) (6) (14) (10) (3)
Equity in earnings of 20%-49% owned
companies, less dividends received . . . . . . . . ... (1) ... (9) (4)
Minority interest . . . . . . . . . . . . . . . . . . . 12 13 7 3 (1)
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Net earnings as adjusted. . . . . . . . . . . . . . . . $2,172 $1,949 $1,732 $1,529 $1,343
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Fixed Charges:
Interest on long-term and
short-term debt. . . . . . . . . . . . . . . . . . $ 50 $ 54 $ 53 $ 64 $ 91
Capitalized interest cost . . . . . . . . . . . . . . . 18 16 24 18 10
Rental expense representative
of an interest factor. . . . . . . . . . . . . . . 26 26 25 20 20
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Total Fixed Charges. . . . . . . . . . . . . . . . . . . . . 94 96 102 102 121
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Total adjusted earnings available for
payment of fixed charges. . . . . . . . . . . . . . . . $2,266 $2,045 $1,834 $1,631 $1,464
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Ratio of earnings to fixed charges . . . . . . . . . . . . . 24.1 21.3 18.0 16.0 12.1
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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.