Philip Morris International Inc. - FORM 10-Q - EX-12 - STATEMENT REGARDING COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES - November 6, 2009

Attached files

file filename
10-Q - FORM 10-Q - Philip Morris International Inc.d10q.htm
EX-32.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER - Philip Morris International Inc.dex321.htm
EX-32.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER - Philip Morris International Inc.dex322.htm
EX-31.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER - Philip Morris International Inc.dex311.htm
EX-31.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER - Philip Morris International Inc.dex312.htm
EX-10.2 - AMENDMENT AND TERMINATION AGREEMENT DATED AS OF SEPTEMBER 8, 2009 - Philip Morris International Inc.dex102.htm

Exhibit 12

PHILIP MORRIS INTERNATIONAL INC. AND SUBSIDIARIES

Computation of Ratios of Earnings to Fixed Charges

(in millions of dollars)

 

     Nine Months
Ended
September 30, 2009		    Three Months
Ended
September 30, 2009

Earnings before income taxes

    $ 7,027    $ 2,629

Add (deduct):

      

Equity in net loss of less than 50% owned affiliates

      4      2

Dividends from less than 50% owned affiliates

      

Fixed charges

      723      281

Interest capitalized, net of amortization

      2      1
             

Earnings available for fixed charges

    $ 7,756    $ 2,913
             

Fixed charges:

      

Interest incurred

    $ 666    $ 262

Portion of rent expense deemed to represent interest factor

      57      19
             

Fixed charges

    $ 723    $ 281
             

Ratio of earnings to fixed charges

      10.7      10.4
             

 

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PHILIP MORRIS INTERNATIONAL INC. AND SUBSIDIARIES

Computation of Ratios of Earnings to Fixed Charges

(in millions of dollars)

 

     For the Years Ended December 31,  
    

2008

    

2007

    

2006

    

2005

    

2004

  

Earnings before income taxes

    $ 9,937      $ 8,884      $ 8,208      $ 7,636      $ 6,505   

Add (deduct):

           

Equity in net loss (earnings) of less
than 50% owned affiliates

      64        (100 )      (163 )      (176 )      (111 ) 

Dividends from less than 50%
owned affiliates

      12        100        154        127        92   

Fixed charges

      618        359        446        407        254   

Interest capitalized, net of
amortization

      (11 )      (8 )      (4 )     (12 )      (5 ) 
                                        

Earnings available for fixed charges

    $ 10,620      $ 9,235      $ 8,641      $ 7,982      $ 6,735   
                                        

Fixed charges:

           

Interest incurred

    $ 543      $ 280      $ 378      $ 340      $ 198   

Portion of rent expense deemed to
represent interest factor

      75        79        68        67       56   
                                        

Fixed charges

    $ 618      $ 359      $ 446      $ 407      $ 254   
                                        

Ratio of earnings to fixed charges

      17.2        25.7        19.4        19.6        26.5   
                                        

 

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Philip Morris International Inc. Reports