EXHIBIT 12. STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS FROM
CONTINUING OPERATIONS TO FIXED CHARGES
(Unaudited)
Eli Lilly and Company and Subsidiaries
(Dollars in Millions)
Six Months
Ended June 30, Years Ended December 31,
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1998 1997 1996 1995 1994 1993
---- ---- ---- ---- ---- ----
Consolidated
Pretax Income
from Continuing
Operations before
Accounting Changes &
Extraordinary Item................ $1,359.5 $ 510.2 $2,031.3 $1,765.6 $1,698.6 $ 662.8
Interest from Continuing
Operations........................ 102.1 260.0 324.9 324.6 129.2 96.1
Interest Capitalized
during the Period from
Continuing Operations.............. (10.4) (23.8) (36.1) (38.3) (25.4) (25.5)
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Earnings ........................... $1,451.2 $ 746.4 $2,320.1 $2,051.9 $1,802.4 $ 733.4
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Fixed Charges(1).................... $ 103.8 $ 264.2 $ 329.6 $ 324.6 $ 129.2 $ 96.1
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Ratio of Earnings to
Fixed Charges..................... 14.0 2.8(2) 7.0 6.3 14.0 7.6
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(1)Fixed charges include interest from continuing operations for all years
presented and beginning in 1996, preferred stock dividends.
(2)Included in the 1997 earnings is a noncash charge of $2,443 million due to an
asset impairment. See notes to consolidated condensed financial statements.
If the asset impairment charge had not occurred, the ratio of earnings to
fixed charges would have been 12.1.