Attached files
| file | filename |
|---|---|
| EX-31.A - SECTION 302 CERTIFICATION LETTER - BRISTOL MYERS SQUIBB CO | bmyex311_20150930.htm |
| EX-32.B - SECTION 906 CERTIFICATION LETTER - BRISTOL MYERS SQUIBB CO | bmyex322_20150930.htm |
| EX-31.B - SECTION 302 CERTIFICATION LETTER - BRISTOL MYERS SQUIBB CO | bmyex312_20150930.htm |
| EX-32.A - SECTION 906 CERTIFICATION LETTER - BRISTOL MYERS SQUIBB CO | bmyex321_20150930.htm |
| 10-Q - FORM 10-Q - BRISTOL MYERS SQUIBB CO | bmy-20150930x10q.htm |
EXHIBIT 12.
Computation of Earnings to Fixed Charges
Ratio of Earnings to Fixed Charges: | Nine Months Ended September 30, 2015 | Year Ended December 31, | |||||||||||||||||
2014 | 2013 | 2012 | 2011 | ||||||||||||||||
Dollars in Millions | |||||||||||||||||||
Earnings | |||||||||||||||||||
Earnings from continuing operations before income taxes | $ | 2,487 | $ | 2,381 | $ | 2,891 | $ | 2,340 | $ | 6,981 | |||||||||
Less: | |||||||||||||||||||
Noncontrolling interest in pre-tax income of subsidiaries | |||||||||||||||||||
that have not incurred fixed charges | 45 | 38 | 36 | 844 | 2,323 | ||||||||||||||
Equity in net income of affiliates | 67 | 107 | 166 | 183 | 281 | ||||||||||||||
Capitalized interest | 2 | 3 | — | — | — | ||||||||||||||
Adjusted Income | 2,373 | 2,233 | 2,689 | 1,313 | 4,377 | ||||||||||||||
Add: | |||||||||||||||||||
Fixed charges | 177 | 254 | 255 | 227 | 190 | ||||||||||||||
Distributed income of equity investments | 81 | 153 | 149 | 229 | 283 | ||||||||||||||
Total Earnings | $ | 2,631 | $ | 2,640 | $ | 3,093 | $ | 1,769 | $ | 4,850 | |||||||||
Fixed Charges | |||||||||||||||||||
Interest expense | $ | 141 | $ | 203 | $ | 199 | $ | 182 | $ | 145 | |||||||||
Capitalized interest | 2 | 3 | — | — | — | ||||||||||||||
One-third of rental expense(1) | 34 | 48 | 56 | 45 | 45 | ||||||||||||||
Total Fixed Charges | $ | 177 | $ | 254 | $ | 255 | $ | 227 | $ | 190 | |||||||||
Ratio of Earnings to Fixed Charges | 14.86 | 10.39 | 12.13 | 7.79 | 25.53 | ||||||||||||||
(1) Rents included in the computation consist of one-third of rental expense which the Company believes to be a reasonable estimate of an interest factor in its leases.
E-12-1