BRISTOL MYERS SQUIBB CO - FORM 10-Q - EX-12 - COMPUTATION OF EARNINGS TO FIXED CHARGES - April 29, 2010

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10-Q - FORM 10-Q - BRISTOL MYERS SQUIBB COd10q.htm
EX-10.(A) - FORM OF RESTRICTED STOCK UNITS AGREEMENT - BRISTOL MYERS SQUIBB COdex10a.htm
EX-32.(B) - SECTION 906 CFO CERTIFICATION LETTER - BRISTOL MYERS SQUIBB COdex32b.htm
EX-31.(B) - SECTION 302 CFO CERTIFICATION LETTER - BRISTOL MYERS SQUIBB COdex31b.htm
EX-31.(A) - SECTION 302 CEO CERTIFICATION LETTER - BRISTOL MYERS SQUIBB COdex31a.htm
EX-32.(A) - SECTION 906 CEO CERTIFICATION LETTER - BRISTOL MYERS SQUIBB COdex32a.htm

EXHIBIT 12.

Computation of Earnings to Fixed Charges

 

Ratio of Earnings to Fixed Charges:    Three Months
Ended March 31,		    Years Ended December 31,
Dollars in Millions    2010    2009    2008    2007    2006    2005

Earnings

                  

Earnings from continuing operations before income taxes

    $ 1,452    $ 5,602    $ 4,776    $ 2,523    $ 1,450    $ 3,398

Less:

                  

Noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges

      520      1,717      1,444      1,106      609      812

Equity in net income of affiliates

      97      550      617      524      474      334

Capitalized interest

      2      13      21      24      16      8
                                         

Income adjusted for equity income

      833      3,322      2,694      869      351      2,244

Add:

                  

Fixed charges

      48      242      387      497      560      403

Distributed income of equity investments

      69      550      590      488      439      383
                                         

Total Earnings

    $ 950    $ 4,114    $ 3,671    $ 1,854    $ 1,350    $ 3,030
                                         

Fixed Charges

                  

Interest

    $ 33    $ 184    $ 310    $ 422    $ 498    $ 349

Capitalized interest

      2      13      21      24      16      8

One-third of rental expense (1)

      13      45      56      51      46      46
                                         

Total Fixed Charges

    $ 48    $ 242    $ 387    $ 497    $ 560    $ 403
                                         

Ratio of Earnings to Fixed Charges

      19.79      17.00      9.49      3.73      2.41      7.52

 

(1)

Rents included in the computation consist of one-third of rental expense which the Company believes to be a conservative estimate of an interest factor in its leases.

 

E-12-1

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