EX-12 3 d340670dex12.htm STATEMENT RE: COMPUTATION OF RATIO OF EARNINGS (LOSS) TO FIXED CHARGES Statement re: Computation of Ratio of Earnings (Loss) to Fixed Charges

EXHIBIT 12. Statement Re: Computation of Ratio of Earnings (Loss) to Fixed Charges

(Unaudited)

ELI LILLY AND COMPANY AND SUBSIDIARIES

(Dollars in millions)

 

     Three
Months
Ended
March 31,		     Years Ended December 31,  
     2012     2011     2010     2009     2008     2007  

Consolidated pretax income (loss)

    $ 1,335.3      $ 5,349.5      $ 6,525.2      $ 5,357.8      ($ 1,307.6 )    $ 3,876.8   

Interest1

      52.1        211.7        211.5        291.5        276.5        322.5   

Less interest capitalized during the period

      (6.8 )      (25.7 )      (26.0 )      (30.2 )      (48.2 )      (94.2 ) 
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Earnings (loss)

    $ 1,380.6      $ 5,535.5      $ 6,710.7      $ 5,619.1      ($ 1,079.3 )    $ 4,105.1   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Fixed charges

    $ 52.1      $ 211.7      $ 211.5      $ 291.5      $ 276.5      $ 322.5   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Ratio of earnings (loss) to fixed charges

      26.5        26.1        31.7        19.3        NM 2      12.7   
  

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

NM – Not Meaningful

 

1 

Interest is based upon interest expense reported as such in the consolidated condensed statements of operations and does not include any interest related to unrecognized tax benefits, which is included in income tax expense.

2 

For such ratio, earnings were $1.31 billion less than fixed charges. The loss for the year ended December 31, 2008, included special charges related to the EDPA settlement of $1.48 billion and acquired in-process research and development expense of $4.69 billion associated with the ImClone acquisition.