ABBOTT LABORATORIES - FORM 10-K - EX-12 - February 19, 2016

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Exhibit 12

Abbott Laboratories
Computation of Ratio of Earnings to Fixed Charges
(Unaudited)
(dollars in millions)

 
   2015   2014   2013   2012   2011  

EARNINGS FROM CONTINUING OPERATIONS ADD (DEDUCT)

   $ 2,606   $ 1,721   $ 1,988   $ 237  (a) $ 676  

Taxes on earnings from continuing operations

     577     797     53     (457 )   (20 )

Amortization of capitalized interest, net of capitalized interest

     (3 )   (3 )   (6 )   (3 )   (2 )

Noncontrolling interests

     17     13     13     12     10  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

EARNINGS FROM CONTINUING OPERATIONS AS ADJUSTED

   $ 3,197   $ 2,528   $ 2,048   $ (211 ) $ 664  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

FIXED CHARGES

                                

Interest on long-term and short-term debt

     163     150     145     320     326  

Capitalized interest cost

     15     13     15     12     10  

Rental expense representative of an interest factor

     85     87     90     100     96  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

TOTAL FIXED CHARGES

   $ 263   $ 250   $ 250   $ 432   $ 432  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

TOTAL ADJUSTED EARNINGS FROM CONTINUING OPERATIONS AVAILABLE FOR PAYMENT OF FIXED CHARGES

   $ 3,460   $ 2,778   $ 2,298   $ 221   $ 1,096  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​

RATIO OF EARNINGS FROM CONTINUING OPERATIONS TO FIXED CHARGES

     13.1     11.1     9.2     0.5     2.5  
​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​
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(a)
2012 includes $1,351 million for the net loss on extinguishment of debt.

NOTE: For the purpose of calculating this ratio, (i) earnings from continuing operations have been calculated by adjusting earnings from continuing operations for taxes on earnings from continuing operations; interest expense; amortization of capitalized interest, net of capitalized interest; noncontrolling interests; and the portion of rentals representative of the interest factor, (ii) Abbott considers one-third of rental expense to be the amount representing return on capital, and (iii) fixed charges comprise total interest expense, including capitalized interest and such portion of rentals.



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