EX-12 3 c59350exv12.htm EX-12 exv12
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,  
    2010     2009     2008     2007     2006     2005  
     
Consolidated pretax income (loss) before cumulative effect of a change in accounting principle
  $ 3,444.3     $ 5,357.8     $ (1,307.6 )   $ 3,876.8     $ 3,418.0     $ 2,717.5  
Interest1
    108.0       291.5       276.5       322.5       344.8       245.7  
Less interest capitalized during the period
    (12.9 )     (30.2 )     (48.2 )     (94.2 )     (106.7 )     (140.5 )
     
Earnings (loss)
  $ 3,539.4     $ 5,619.1     $ (1,079.3 )   $ 4,105.1     $ 3,656.1     $ 2,822.7  
     
Fixed charges
  $ 108.0     $ 291.5     $ 276.5     $ 322.5     $ 344.8     $ 245.7  
     
Ratio of earnings to fixed charges
    32.8       19.3     NM2     12.7       10.6       11.5  
     
 
NM — Not Meaningful
 
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.
 
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.