EX-12 7 exhibit_12.htm Exhibit 12

Exhibit 12

SCHERING-PLOUGH CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Dollars in millions)

  

2000

1999

1998

1997

1996

Income Before Income Taxes from

 

 

 

 

 

  Continuing Operations

$ 3,188

$  2,795

$  2,326

$  1,913

$ 1,606

Add: Fixed Charges

 

 

 

 

 

   Interest Expense

44

29

19

40

45

   1/3 Rentals

24

22

19

15

12

   Capitalized Interest

       20

      12

       9

      15

      11

      Total Fixed Charges

88

63

47

70

68

Less: Capitalized Interest.

20

12

9

15

11

Add: Amortization of Capitalized Interest

        7

       7

       7

        5

       5

Earnings Before Income Taxes and Fixed

 

 

 

 

 

  Charges (other than Capitalized Interest)

$ 3,263

$  2,853

$  2,371

$  1,973

$ 1,668

Ratio of Earning to Fixed Charges

      37

      45

      50

      28

     25

 

 

 

 

 

 

"Earnings" consist of income before income taxes and fixed charges (other than capitalized interest). "Fixed charges" consist of interest expense, capitalized interest and one-third of rentals which Schering-Plough believes to be a reasonable estimate of an interest factor on leases.