EX-12 21 exhibit12-ratioofearningst.htm RATIO OF EARNING TO FIXED CHARGES Exhibit 12 - Ratio of Earnings to Fixed Charges


EXHIBIT 12

BOSTON SCIENTIFIC CORPORATION
STATEMENT OF COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES (unaudited)

 
Year Ended December 31,
in millions
2011
2010
2009
2008
2007
Fixed charges
 
 
 
 
 
Interest expense and amortization of debt issuance costs (a)
$
281

$
393

$
407

$
468

$
570

Interest portion of rental expense
18

18

20

18

14

Total fixed charges
$
299

$
411

$
427

$
486

$
584

 
 
 
 
 
 
Earnings
 
 
 
 
 
Income (loss) before income taxes
$
642

$
(1,063
)
$
(1,308
)
$
(2,031
)
$
(569
)
Fixed charges, per above
299

411

427

486

584

Total earnings (deficit), adjusted
$
941

$
(652
)
$
(881
)
$
(1,545
)
$
15

 
 
 
 
 
 
Ratio of earnings to fixed charges (b)
3.15

 
 
 
0.03

 
 
 
 
 
 

a) The interest expense included in fixed charges above reflects only interest on third party indebtedness and excludes any interest expense accrued on uncertain tax positions, as permitted by Financial Accounting Standards Board Accounting Standards Codification™ Topic 740, Income Taxes.

b) Earnings were deficient by $652 million in 2010, $881 million in 2009, and $1.545 billion in 2008.