Attached files
| file | filename |
|---|---|
| 10-Q - FORM 10-Q - BRISTOL MYERS SQUIBB CO | bmy-20160930x10q.htm |
| EX-32.B - EXHIBIT 32.B - BRISTOL MYERS SQUIBB CO | bmyex32b_20160930.htm |
| EX-32.A - EXHIBIT 32.A - BRISTOL MYERS SQUIBB CO | bmyex32a_20160930.htm |
| EX-31.B - EXHIBIT 31.B - BRISTOL MYERS SQUIBB CO | bmyex31b_20160930.htm |
| EX-31.A - EXHIBIT 31.A - BRISTOL MYERS SQUIBB CO | bmyex31a_20160930.htm |
EXHIBIT 12.
Computation of Earnings to Fixed Charges
Ratio of Earnings to Fixed Charges: | Nine Months Ended September 30, 2016 | Year Ended December 31, | |||||||||||||||||
2015 | 2014 | 2013 | 2012 | ||||||||||||||||
Dollars in Millions | |||||||||||||||||||
Earnings | |||||||||||||||||||
Earnings from continuing operations before income taxes | $ | 4,829 | $ | 2,077 | $ | 2,381 | $ | 2,891 | $ | 2,340 | |||||||||
Less: | |||||||||||||||||||
Noncontrolling interest in pre-tax income of subsidiaries | |||||||||||||||||||
that have not incurred fixed charges | 13 | 51 | 38 | 36 | 844 | ||||||||||||||
Equity in net income of affiliates | 65 | 83 | 107 | 166 | 183 | ||||||||||||||
Capitalized interest | 6 | 2 | 3 | — | — | ||||||||||||||
Adjusted Income | 4,745 | 1,941 | 2,233 | 2,689 | 1,313 | ||||||||||||||
Add: | |||||||||||||||||||
Fixed charges | 167 | 231 | 254 | 255 | 227 | ||||||||||||||
Distributed income of equity investments | 75 | 105 | 153 | 149 | 229 | ||||||||||||||
Total Earnings | $ | 4,987 | $ | 2,277 | $ | 2,640 | $ | 3,093 | $ | 1,769 | |||||||||
Fixed Charges | |||||||||||||||||||
Interest expense | $ | 127 | $ | 184 | $ | 203 | $ | 199 | $ | 182 | |||||||||
Capitalized interest | 6 | 2 | 3 | — | — | ||||||||||||||
One-third of rental expense(1) | 34 | 45 | 48 | 56 | 45 | ||||||||||||||
Total Fixed Charges | $ | 167 | $ | 231 | $ | 254 | $ | 255 | $ | 227 | |||||||||
Ratio of Earnings to Fixed Charges | 29.86 | 9.86 | 10.39 | 12.13 | 7.79 | ||||||||||||||
(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