Exhibit 12

Pfizer Inc. and Subsidiary Companies

Computation of Ratio of Earnings to Fixed Charges

On June 24, 2013, Pfizer completed the full disposition of its Animal Health business (Zoetis). Information provided for the nine months ended September 29, 2013 excludes all amounts related to Zoetis. Information provided for periods prior to 2013 have not been restated for Zoetis as the information is not currently available.

	Nine Months
	Ended			Year Ended December 31,
(MILLIONS OF DOLLARS, EXCEPT RATIO)	September 29, 2013			2012			2011			2010			2009			2008
Determination of Earnings:
Income from continuing operations before provision for taxes on income, noncontrolling interests and cumulative effect of a change in accounting principles	$	12,655		$	12,080		$	12,304		$	9,471		$	10,723		$	9,520
Less:
Noncontrolling interests	36			47			60			46			15			34
Income attributable to Pfizer Inc.	12,619			12,033			12,244			9,425			10,708			9,486
Add (deduct):
Capitalized interest	(23		)	(41		)	(50		)	(36		)	(34		)	(46		)
Amortization of capitalized interest	42			69			95			29			29			29
Equity (income)/loss from equity method investments	(33		)	(99		)	(82		)	(78		)	4			5
Distributed income of equity method investments	162			85			190			26			—			—
Fixed charges	1,149			1,640			1,813			1,930			1,358			647
Total earnings as defined	$	13,916		$	13,687		$	14,210		$	11,296		$	12,065		$	10,121
Fixed charges:
Interest expense(a)	$	1,067		$	1,524		$	1,681		$	1,797		$	1,232		$	516
Preferred stock dividends(b)	3			4			5			6			7			8
Rents(c)	79			112			127			127			119			123
Fixed charges	1,149			1,640			1,813			1,930			1,358			647
Capitalized interest	23			41			50			36			34			46
Total fixed charges	$	1,172		$	1,681		$	1,863		$	1,966		$	1,392		$	693
Ratio of earnings to fixed charges	11.9			8.1			7.6			5.7			8.7			14.6

^(a)  Interest expense includes amortization of debt premium, discount and other debt costs. Interest expense does not include interest related to uncertain tax positions of $176 million for the first nine months of 2013; $268 million for 2012; $343 million for 2011; $389 million for 2010; $337 million for 2009; and $333 million for 2008.

^(b)  Preferred stock dividends related to our Series A convertible perpetual preferred stock held by an Employee Stock Ownership Plan Trust.

^(c)  Rents included in the computation consist of one-third of rental expense, which we believe to be a conservative estimate of an interest factor in our leases, which are not material.

All financial information before 2012 reflects Capsugel as a discontinued operation (business was sold on August 1, 2011). The financial information for the years ended December 31, 2012, 2011, 2010 and 2009 reflects the Nutrition business as a discontinued operation (business was acquired in 2009 and sold on November 30, 2012).