EX-12 6 dex12.htm COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES Computation of Ratio of Earnings to Fixed Charges

Exhibit 12

Wyeth

Computation of Ratio of Earnings to Fixed Charges

(in thousands except ratio amounts)

 

     Six Months Ended
June 30, 2007		     Year Ended December 31,
     2006     2005     2004     2003     2002

Earnings (Loss):

             

Income (loss) from continuing operations before income taxes

    $ 3,459,792     $ 5,429,904     $ 4,780,589     $ (129,847 )   $ 2,361,612     $ 6,097,245

Add:

             

Fixed charges

      353,932       625,513       461,431       360,805       346,564       430,449

Minority interests

      14,712       29,769       26,492       27,867       32,352       27,993

Amortization of capitalized interest

      11,987       22,465       21,356       9,350       8,772       8,866

Less:

             

Equity income (loss)

      (40 )     (317 )     (104 )     (524 )     (468 )     20,766

Capitalized interest

      38,500       71,400       46,450       86,750       115,800       88,008
                                              

Total earnings as defined

    $ 3,801,963     $ 6,036,568     $ 5,243,522     $ 181,949     $ 2,633,968     $ 6,455,779
                                              

Fixed Charges:

             

Interest and amortization of debt expense

    $ 287,798     $ 498,847     $ 356,834     $ 221,598     $ 182,503     $ 294,160

Capitalized interest

      38,500       71,400       46,450       86,750       115,800       88,008

Interest factor of rental expense (1)

      27,634       55,266       58,147       52,457       48,261       48,281
                                              

Total fixed charges as defined

    $ 353,932     $ 625,513     $ 461,431     $ 360,805     $ 346,564     $ 430,449
                                              

Ratio of earnings to fixed charges

      10.7       9.7       11.4       0.5       7.6       15.0

 

(1)

A  1/3 factor was used to compute the portion of rental expenses deemed representative of the interest factor.