EXHIBIT 12. STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(Unaudited)

Eli Lilly and Company and Subsidiaries
(Dollars in millions)

	Six Months
	Ended
	June 30,			Years Ended December 31,
	2006			2005			2004			2003			2002			2001
Consolidated pretax income before cumulative effect of a change in accounting principle	$	2,097.2		$	2,717.5		$	2,941.9		$	3,261.7		$	3,457.7		$	3,506.9
Interest		184.5			245.7			162.9			121.9			140.0			253.3
Less interest capitalized during the period		(53.7	)		(140.5	)		(111.3	)		(60.9	)		(60.3	)		(61.5	)
Earnings	$	2,228.0		$	2,822.7		$	2,993.5		$	3,322.7		$	3,537.4		$	3,698.7
Fixed charges	$	184.5		$	245.7		$	162.9		$	121.9		$	140.0		$	253.3
Ratio of earnings to fixed charges		12.1			11.5			18.4			27.3			25.3			14.6