Exhibit 12

MERCK & CO., INC. AND SUBSIDIARIES

Computation of Ratios of Earnings to Fixed Charges

($ in millions except ratio data)

	Years Ended December 31,
	2016		2015		2014		2013		2012
Income Before Taxes	$	4,659	$	5,401	$	17,283	$	5,545	$	8,739
Add (Subtract):
One-third of rents	97		101		117		122		133
Interest expense, gross	693		672		732		801		714
Interest capitalized, net of amortization	—		(3)		(1)		(2)		(49)
Equity (income) loss from affiliates, net of distributions	(70)		(155)		(72)		(168)		(350)
Earnings as defined	$	5,379	$	6,016	$	18,059	$	6,298	$	9,187
One-third of rents	$	97	$	101	$	117	$	122	$	133
Interest expense, gross	693		672		732		801		714
Preferred stock dividends	—		—		86		147		163
Fixed Charges	$	790	$	773	$	935	$	1,070	$	1,010
Ratio of Earnings to Fixed Charges	7		8		19		6		9

For purposes of computing these ratios, “earnings” consist of income before taxes, one-third of rents (deemed by the Company to be representative of the interest factor inherent in rents), interest expense, interest capitalized, net of amortization and equity (income) loss from affiliates, net of distributions. “Fixed charges” consist of one-third of rents, interest expense as reported in the consolidated financial statements and dividends on preferred stock. Interest expense does not include interest related to uncertain tax positions.