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Exhibit 12
Abbott Laboratories
Computation of Ratio of Earnings to Fixed Charges
(Unaudited)
(dollars in millions except ratios)
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Nine Months Ended
September 30, 2000
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<S> <C>
Net Earnings ........................................................ $2,033
Add (deduct):
Taxes on earnings .............................................. 752
Capitalized interest cost, net of amortization ................. (3)
Minority interest .............................................. 6
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Net Earnings as adjusted ............................................ $2,788
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Fixed Charges:
Interest on long-term and short-term debt ...................... 90
Capitalized interest cost ...................................... 14
Rental expense representative of an interest factor ............ 34
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Total Fixed Charges ................................................. 138
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Total adjusted earnings available for payment of fixed charges ...... $2,926
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Ratio of earnings to fixed charges .................................. 21.2
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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) Abbott 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.
