EX-12 3 c21135exv12.htm STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES exv12
 

EXHIBIT 12.
STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Unaudited)
Eli Lilly and Company and Subsidiaries
(Dollars in millions)
                                                 
    Nine Months    
    Ended    
    September 30,   Years Ended December 31,
    2007   2006   2005   2004   2003   2002
     
Consolidated pretax income before cumulative effect of a change in accounting principle
   $ 2,824.5     $ 3,418.0     $ 2,717.5     $ 2,941.9     $ 3,261.7     $ 3,457.7  
 
                                                
Interest1
     242.4       344.8       245.7       162.9       121.9       140.0  
 
                                                
Less interest capitalized during the period
     (74.5 )     (106.7 )     (140.5 )     (111.3 )     (60.9 )     (60.3 )
     
 
                                                
Earnings
   $ 2,992.4     $ 3,656.1     $ 2,822.7     $ 2,993.5     $ 3,322.7     $ 3,537.4  
     
 
                                                
Fixed charges
   $ 242.4     $ 344.8     $ 245.7     $ 162.9     $ 121.9     $ 140.0  
     
 
                                                
Ratio of earnings to fixed charges
     12.3       10.6       11.5       18.4       27.3       25.3  
     
 
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.