EX-12 4 exhibit12-ratioofearningst.htm EXHIBIT - RATIO OF EARNINGS Exhibit 12 - Ratio of Earnings to Fixed Charges (2013 10-K)


EXHIBIT 12

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

 
Year Ended December 31,
in millions
2013
2012
2011
2010
2009
Fixed charges
 
 
 
 
 
Interest expense and amortization of debt issuance costs (a)
$
324

$
261

$
281

$
393

$
407

Interest portion of rental expense
25

27

18

18

20

Total fixed charges
$
349

$
288

$
299

$
411

$
427

 
 
 
 
 
 
Earnings
 
 
 
 
 
Income (loss) before income taxes
$
(223
)
$
(4,107
)
$
642

$
(1,063
)
$
(1,308
)
Fixed charges, per above
349

288

299

411

427

Total earnings (deficit), adjusted
$
126

$
(3,819
)
$
941

$
(652
)
$
(881
)
 
 
 

 
 
Ratio of earnings to fixed charges (b)
0.36

 
3.15

 
 
 

 

 
 

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 $3.819 billion in 2012, $652 million in 2010, and $881 million in 2009.