EX-12 3 c33792exv12.htm EXHIBIT 12 Exhibit 12
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,
    2008   2007   2006   2005   2004   2003
     
Consolidated pretax income before
cumulative effect of a change in
accounting principle
   $ 2,262.6     $ 3,876.8     $ 3,418.0     $ 2,717.5     $ 2,941.9     $ 3,261.7  
 
                                                
Interest1
     130.9       322.5       344.8       245.7       162.9       121.9  
 
                                                
Less interest capitalized during the
period
     (28.5 )     (94.2 )     (106.7 )     (140.5 )     (111.3 )     (60.9 )
     
 
                                                
Earnings
   $ 2,365.0     $ 4,105.1     $ 3,656.1     $ 2,822.7     $ 2,993.5     $ 3,322.7  
     
 
                                                
Fixed charges
   $ 130.9     $ 322.5     $ 344.8     $ 245.7     $ 162.9     $ 121.9  
     
 
                                                
Ratio of earnings to fixed charges
     18.1       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.