EXHIBIT 12 ABBOTT LABORATORIES CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES (Unaudited) (Millions of Dollars) SIX MONTHS ENDED JUNE 30, 1998 ---------------- Net Earnings $1,175 Add (deduct): Income taxes 457 Minority interest 3 ------ Net earnings as adjusted $1,635 ------ Fixed Charges: Interest on long-term and short-term debt $ 78 Capitalized interest cost 7 Rental expense representative of an interest factor 19 ------ Total Fixed Charges 104 ------ Total adjusted earnings available for payment of fixed charges $1,739 ------ ------ Ratio of earnings to fixed charges 16.7 ------ ------ 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.