Attached files

file filename
8-K - FORM 8-K - Philip Morris International Inc.d8k.htm
EX-99.3 - REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - Philip Morris International Inc.dex993.htm
EX-99.2 - REPORT OF MANAGEMENT ON INTERNAL CONTROL OVER FINANCIAL REPORTING - Philip Morris International Inc.dex992.htm
EX-99.1 - FINANCIAL STATEMENTS - Philip Morris International Inc.dex991.htm
EX-23 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - Philip Morris International Inc.dex23.htm

Exhibit 12

PHILIP MORRIS INTERNATIONAL INC. AND SUBSIDIARIES

Computation of Ratios of Earnings to Fixed Charges

(in millions of dollars)

 

 

 

     For the Years Ended December 31,  
     2009    2008     2007     2006     2005  

Earnings before income taxes

   $ 9,243    $ 9,937      $ 8,884      $ 8,208      $ 7,636   

Add (deduct):

           

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

     6      64        (100     (163     (176

Dividends from less than 50% owned affiliates

     —        12        100        154        127   

Fixed charges

     1,006      618        359        446        407   

Interest capitalized, net of amortization

     2      (11     (8     (4     (12
                                       

Earnings available for fixed charges

   $ 10,257    $ 10,620      $ 9,235      $ 8,641      $ 7,982   
                                       

Fixed charges:

           

Interest incurred

   $ 920    $ 543      $ 280      $ 378      $ 340   

Portion of rent expense deemed to represent interest factor

     86      75        79        68        67   
                                       

Fixed charges

   $ 1,006    $ 618      $ 359      $ 446      $ 407   
                                       

Ratio of earnings to fixed charges

     10.2      17.2        25.7        19.4        19.6