EX-12.1 3 a2236666zex-12_1.htm EX-12.1

Exhibit 12.1

 

AbbVie Inc.

Computation of Ratio of Earnings to Fixed Charges

(unaudited)

 

 

 

Six months
ended June 30,

 

Years ended December 31,

 

(in millions, except for ratio)

 

2018

 

2017

 

2016

 

2015

 

2014

 

2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Determination of earnings:

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings before income tax

 

$

4,809

 

$

7,727

 

$

7,884

 

$

6,645

 

$

2,369

 

$

5,332

 

Add (deduct):

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges

 

665

 

1,222

 

1,222

 

923

 

476

 

343

 

Interest capitalized during period

 

(3

)

(5

)

(112

)

(143

)

—

 

3

 

Total earnings as defined

 

$

5,471

 

$

8,944

 

$

8,994

 

$

7,425

 

$

2,845

 

$

5,678

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed charges:

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest expense

 

$

629

 

$

1,150

 

$

1,155

 

$

860

 

$

429

 

$

299

 

Capitalized interest

 

8

 

16

 

14

 

14

 

11

 

8

 

Rent expense (a)

 

28

 

56

 

53

 

49

 

36

 

36

 

Total fixed charges

 

$

665

 

$

1,222

 

$

1,222

 

$

923

 

$

476

 

$

343

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ratio of earnings to fixed charges

 

8.2

 

7.3

 

7.4

 

8.0

 

6.0

 

16.6

 

 

(a) AbbVie considers one-third of rent expense to be a reasonable approximation of the interest factor in its leases.