Warner Lambert Co – ‘10-K’ for 12/31/96 – EX-12

As of:  Thursday, 3/20/97   ·   For:  12/31/96   ·   Accession #:  950117-97-433   ·   File #:  1-03608

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Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Warner-Lambert Company 10-K                           22    121K 
 2: EX-10       Exhibit 10(D)                                         30     94K 
 3: EX-10       Exhibit 10(E)                                         31     94K 
 4: EX-12       Statement re: Computation of Ratios                    1      8K 
 5: EX-13       Annual or Quarterly Report to Security Holders        23    138K 
 6: EX-21       Subsidiaries of the Registrant                         4     31K 
 7: EX-23       Consent of Experts or Counsel                          1      6K 
 8: EX-27       Art.5 FDS 1996 10-K                                    2±     9K 

EX-12   —   Statement re: Computation of Ratios

EX-12
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                                                                      EXHIBIT 12

WARNER-LAMBERT COMPANY AND SUBSIDIARIES 
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES 

                                                        [Enlarge/Download Table]

                                                                        YEARS ENDED DECEMBER 31,                
                                                         -------------------------------------------------------
                                                           1996        1995        1994        1993        1992 
                                                         --------    --------    --------     ------      ------
                                                                          (DOLLARS IN MILLIONS)                 

                                                                                                                
Earnings before income taxes and accounting changes                                                             
  (less minority interests)............................. $1,107.7    $1,018.6    $  913.1     $318.5      $858.2
Add:                                                                                                            
     Interest on indebtedness - excluding amount                                                                
       capitalized......................................    145.9       122.7        93.7       64.2        80.8
     Amortization of debt expense.......................       .5          .4          .4         .5          .6
     Interest factor in rent expense(a).................     27.5        26.9        26.2       25.4        23.4
                                                         --------    --------    --------     ------      ------
          Adjusted earnings............................. $1,281.6    $1,168.6    $1,033.4     $408.6      $963.0
                                                         --------    --------    --------     ------      ------
 Fixed Charges:                                                                                                 
     Interest on indebtedness........................... $  145.9    $  122.7    $   93.7     $ 64.2      $ 80.8
     Capitalized interest...............................      9.6        10.1         9.4        8.6         8.1
     Amortization of debt expense.......................       .5          .4          .4         .5          .6
     Interest factor in rent expense(a).................     27.5        26.9        26.2       25.4        23.4
                                                         --------    --------    --------     ------      ------
          Total fixed charges........................... $  183.5    $  160.1    $  129.7     $ 98.7      $112.9
                                                         --------    --------    --------     ------      ------
 Ratio of earnings to fixed charges.....................      7.0         7.3         8.0        4.1(b)      8.5
                                                         --------    --------    --------     ------      ------

------------                                                                    

 (a) Represents  one third  of rental expense,  which the Company  believes is a
reasonable approximation.                                             

 (b) The Company's ratio of earnings to  fixed charges for 1993 would have  been
9.5 excluding the restructuring charge of $525.2 million.