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) Nine Months Ended September 30, Years Ended December 31, 2001 2000 1999 1998 1997 1996 ------------------ ------------- -------------- ------------- -------------- -------------- Consolidated pretax income from continuing operations before extraordinary item .............. $2,810.8 $3,858.7 $3,245.5 $2,665.0 $2,901.1 $2,131.3 Interest from continuing operations and other fixed charges ................... 169.1 225.4 213.1 198.3 253.1 323.8 Less interest capitalized during the period from continuing operations ........... (45.4) (43.1) (29.3) (17.0) (20.4) (35.8) ------------------ ------------- -------------- ------------- -------------- -------------- Earnings .......................... $2,934.5 $4,041.0 $3,429.2 $2,846.3 $3,133.8 $2,419.3 ------------------ ------------- -------------- ------------- -------------- -------------- Fixed charges/1/ .................. $ 169.1 $ 225.4 $ 213.2 $ 200.5 $ 256.8 $ 328.5 ------------------ ------------- -------------- ------------- -------------- -------------- Ratio of earnings to fixed charges ................... 17.4 17.9 16.1 14.2 12.2 7.4 ------------------ ------------- -------------- ------------- -------------- -------------- /1/ Fixed charges include interest from continuing operations for all years presented and preferred stock dividends for 1996 through 1999.