EX-12 12 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)

 

 

     Year Ended December 31,
  
     2007    2006     2005     2004     2003  

Earnings (Loss):

                                        

Income (loss) from continuing operations before income taxes

    $ 6,456,682    $ 5,429,904     $ 4,780,589     ($ 129,847 )   $ 2,361,612  

Add:

                                        

Fixed charges

      754,290      625,513       461,431       360,805       346,564  

Minority interests

      23,277      29,769       26,492       27,867       32,352  

Amortization of capitalized interest

      24,240      22,465       21,356       9,350       8,772  

Less:

                                        

Equity income (loss)

      130      (317 )     (104 )     (524 )     (468 )

Capitalized interest

      79,600      71,400       46,450       86,750       115,800  

Total earnings as defined

    $ 7,178,759    $ 6,036,568     $ 5,243,522     $ 181,949     $ 2,633,968  

Fixed Charges:

                                        

Interest and amortization of debt expense

    $ 616,983    $ 498,847     $ 356,834     $ 221,598     $ 182,503  

Capitalized interest

      79,600      71,400       46,450       86,750       115,800  

Interest factor of rental expense (1)

      57,707      55,266       58,147       52,457       48,261  

Total fixed charges as defined

    $ 754,290    $ 625,513     $ 461,431     $ 360,805     $ 346,564  

Ratio of earnings to fixed charges

      9.5      9.7       11.4       0.5       7.6  

 

(1) 

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