Exhibit 12
Abbott Laboratories and Subsidiaries
Computation of Ratio of Earnings to Fixed Charges
(Unaudited)
(dollars in millions)
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|
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Three Months Ended |
| |
|
|
|
March 31, 2017 |
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|
Earnings from Continuing Operations |
|
$ |
386 |
|
|
Add (deduct): |
|
|
| |
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Taxes on earnings |
|
350 |
| |
|
Capitalized interest cost, net of amortization |
|
(4 |
) | |
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Noncontrolling interests |
|
3 |
| |
|
|
|
|
| |
|
Earnings from Continuing Operations, as adjusted |
|
735 |
| |
|
|
|
|
| |
|
Fixed Charges: |
|
|
| |
|
Interest on long-term and short-term debt |
|
226 |
| |
|
Capitalized interest cost |
|
7 |
| |
|
Rental expense representative of an interest factor |
|
30 |
| |
|
|
|
|
| |
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Total Fixed Charges |
|
263 |
| |
|
|
|
|
| |
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Total adjusted earnings available for payment of fixed charges |
|
$ |
998 |
|
|
|
|
|
| |
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Ratio of earnings to fixed charges |
|
3.8 |
| |
NOTE: For the purpose of calculating this ratio, (i) earnings from continuing operations have been calculated by adjusting earnings for taxes on earnings; interest expense; capitalized interest cost, net of amortization; noncontrolling interests; 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.