EX-12 3 c26296exv12.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)
                                                 
    Three        
    Months        
    Ended        
    March 31,     Years Ended December 31,
    2008     2007     2006     2005     2004     2003  
     
Consolidated pretax income before cumulative effect of a change in accounting principle
   $ 1,056.3     $ 3,876.8     $ 3,418.0     $ 2,717.5     $ 2,941.9     $ 3,261.7  
 
                                                
Interest1
     74.9       322.5       344.8       245.7       162.9       121.9  
 
                                                
Less interest capitalized during the period
     (15.1 )     (94.2 )     (106.7 )     (140.5 )     (111.3 )     (60.9 )
     
 
                                                
Earnings
   $ 1,116.1     $ 4,105.1     $ 3,656.1     $ 2,822.7     $ 2,993.5     $ 3,322.7  
     
 
                                                
Fixed charges
   $ 74.9     $ 322.5     $ 344.8     $ 245.7     $ 162.9     $ 121.9  
     
 
                                                
Ratio of earnings to fixed charges
     14.9       12.7       10.6       11.5       18.4       27.3  
     
 
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.