EXHIBIT 12. STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Unaudited)
Eli Lilly and Company and Subsidiaries
(Dollars in millions)
(Dollars in millions)
| Nine Months | ||||||||||||||||||||||||
| Ended | ||||||||||||||||||||||||
| September 30, | Years Ended December 31, | |||||||||||||||||||||||
| 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | |||||||||||||||||||
Consolidated pretax
income before cumulative
effect of a change in
accounting principle |
$ | 2,029.8 | $ | 3,876.8 | $ | 3,418.0 | $ | 2,717.5 | $ | 2,941.9 | $ | 3,261.7 | ||||||||||||
Interest1 |
185.4 | 322.5 | 344.8 | 245.7 | 162.9 | 121.9 | ||||||||||||||||||
Less interest capitalized
during the period |
(39.0 | ) | (94.2 | ) | (106.7 | ) | (140.5 | ) | (111.3 | ) | (60.9 | ) | ||||||||||||
Earnings |
$ | 2,176.2 | $ | 4,105.1 | $ | 3,656.1 | $ | 2,822.7 | $ | 2,993.5 | $ | 3,322.7 | ||||||||||||
Fixed charges |
$ | 185.4 | $ | 322.5 | $ | 344.8 | $ | 245.7 | $ | 162.9 | $ | 121.9 | ||||||||||||
Ratio of earnings to
fixed charges |
11.7 | 12.7 | 10.6 | 11.5 | 18.4 | 27.3 | ||||||||||||||||||
| 1 | Interest is based upon interest expense reported as such in the consolidated income statement and does not include any interest related to unrecognized tax benefits, which is included in income tax expense. |