<PAGE>
EXHIBIT 12. STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS FROM CONTINUING
OPERATIONS TO FIXED CHARGES
(Unaudited)
ELI LILLY AND COMPANY AND SUBSIDIARIES
<TABLE>
<CAPTION>
Nine Months
Ended
September 30, Years Ended December 31,
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2000 1999 1998 1997 1996 1995
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(Dollars in millions)
<S> <C> <C> <C> <C> <C> <C>
Consolidated Pretax
Income from Continuing
Operations before
Extraordinary Item................... $2,875.0 $3,245.5 $2,665.0 $2,901.1 $2,131.3 $1,866.6
Interest from Continuing
Operations and Other
Fixed Changes........................ 167.9 213.1 198.3 253.1 323.8 323.9
Less Interest Capitalized
During the Period from
Continuing Operations............... (31.5) (29.3) (17.0) (20.4) (35.8) (38.3)
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Earnings.............................. $3,011.4 $3,429.2 $2,846.3 $3,133.8 $2,419.3 $2,152.2
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Fixed Charges/1/...................... $ 167.9 $ 213.2 $ 200.5 $ 256.8 $ 328.5 $ 323.9
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Ratio of Earnings to
Fixed Charges....................... 17.9 16.1 14.2 12.2 7.4 6.6
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</TABLE>
/1/ Fixed charges include interest from continuing operations for all years
presented and preferred stock dividends for 1996 through 1999.
