Exhibit 12

PFIZER INC. AND SUBSIDIARY COMPANIES

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

	Three Months Ended April 1,		Year Ended December 31,
(in millions, except ratios)	2012		2011		2010		2009		2008		2007
Determination of earnings:
Income from continuing operations
before provision for taxes on income, noncontrolling interests and cumulative effect of a change in accounting principles	$	2,553	$	12,762	$	9,282	$	10,674	$	9,520	$	9,127
Less:
Noncontrolling interests		9		42		31		8		22		40
Income attributable to Pfizer Inc.		2,544		12,720		9,251		10,666		9,498		9,087
Add:
Fixed charges		423		1,813		1,932		1,358		647		541
Total earnings as defined	$	2,967	$	14,533	$	11,183	$	12,024	$	10,145	$	9,628
Fixed charges:
Interest expense(a)	$	390	$	1,681	$	1,797	$	1,232	$	516	$	397
Preferred stock dividends(b)		1		5		6		7		8		11
Rents(c)		32		127		129		119		123		133
Fixed charges		423		1,813		1,932		1,358		647		541
Capitalized interest		10		50		36		34		46		43
Total fixed charges	$	433	$	1,863	$	1,968	$	1,392	$	693	$	584
Ratio of earnings to fixed charges		6.9		7.8		5.7		8.6		14.6		16.5

(a)	Interest expense includes amortization of debt premium, discount and expenses. Interest expense does not include interest related to uncertain tax positions of $83 million for the first three months of 2012; $346 million for 2011; $384 million for 2010; $337 million for 2009; $333 million for 2008; and $331 million for 2007.
(b)	Preferred stock dividends are from our Series A convertible perpetual preferred stock held by an Employee Stock Ownership Plan assumed in connection with our acquisition of Pharmacia in 2003.
(c)	Rents included in the computation consist of one-third of rental expense, which we believe to be a conservative estimate of an interest factor in our leases, which are not material.

All financial information reflects Capsugel (the sale of which closed on August 1, 2011) as a discontinued operation.