Attached files
| file | filename |
|---|---|
| 10-Q - FORM 10-Q - BRISTOL MYERS SQUIBB CO | bmy-20170930x10q.htm |
| EX-32.B - EXHIBIT 32.B - BRISTOL MYERS SQUIBB CO | bmyex32b_20170930.htm |
| EX-32.A - EXHIBIT 32.A - BRISTOL MYERS SQUIBB CO | bmyex32a_20170930.htm |
| EX-31.B - EXHIBIT 31.B - BRISTOL MYERS SQUIBB CO | bmyex31b_20170930.htm |
| EX-31.A - EXHIBIT 31.A - BRISTOL MYERS SQUIBB CO | bmyex31a_20170930.htm |
EXHIBIT 12.
Computation of Earnings to Fixed Charges
Ratio of Earnings to Fixed Charges: | Nine Months Ended September 30, 2017 | Year Ended December 31, | |||||||||||||||||
2016 | 2015 | 2014 | 2013 | ||||||||||||||||
Dollars in Millions | |||||||||||||||||||
Earnings | |||||||||||||||||||
Earnings from continuing operations before income taxes | $ | 4,433 | $ | 5,915 | $ | 2,077 | $ | 2,381 | $ | 2,891 | |||||||||
Less: | |||||||||||||||||||
Noncontrolling interest in pretax income/(loss) of | |||||||||||||||||||
subsidiaries that have not incurred fixed charges | (66 | ) | 16 | 51 | 38 | 36 | |||||||||||||
Equity in net income of affiliates | 59 | 77 | 83 | 107 | 166 | ||||||||||||||
Capitalized interest | 11 | 10 | 2 | 3 | — | ||||||||||||||
Adjusted Income | 4,429 | 5,812 | 1,941 | 2,233 | 2,689 | ||||||||||||||
Add: | |||||||||||||||||||
Fixed charges | 187 | 226 | 231 | 254 | 255 | ||||||||||||||
Distributed income of equity investments | 74 | 99 | 105 | 153 | 149 | ||||||||||||||
Total Earnings | $ | 4,690 | $ | 6,137 | $ | 2,277 | $ | 2,640 | $ | 3,093 | |||||||||
Fixed Charges | |||||||||||||||||||
Interest expense | $ | 145 | $ | 167 | $ | 184 | $ | 203 | $ | 199 | |||||||||
Capitalized interest | 11 | 10 | 2 | 3 | — | ||||||||||||||
One-third of rental expense(1) | 31 | 49 | 45 | 48 | 56 | ||||||||||||||
Total Fixed Charges | $ | 187 | $ | 226 | $ | 231 | $ | 254 | $ | 255 | |||||||||
Ratio of Earnings to Fixed Charges | 25.08 | 27.15 | 9.86 | 10.39 | 12.13 | ||||||||||||||
(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