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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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Six Months Ended
June 30, 2000
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<S> <C>
Net Earnings ......................................................... $1,378
Add (deduct):
Taxes on earnings ............................................... 510
Minority interest ............................................... 4
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Net Earnings as adjusted ............................................. $1,892
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Fixed Charges:
Interest on long-term and short-term debt ....................... 65
Capitalized interest cost ....................................... 8
Rental expense representative of an interest factor ............. 21
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Total Fixed Charges .................................................. 94
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Total adjusted earnings available for payment of fixed charges ....... $1,986
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Ratio of earnings to fixed charges ................................... 21.1
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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) 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.
