Attached files
Exhibit 12
PHILIP MORRIS INTERNATIONAL INC. AND SUBSIDIARIES
Computation of Ratios of Earnings to Fixed Charges
(in millions of dollars)
| Three
Months Ended March 31, 2010 | |||
| Earnings before income taxes |
$ | 2,492 | |
| Add (deduct): |
|||
| Equity in net loss of less than 50% owned affiliates |
1 | ||
| Dividends from less than 50% owned affiliates |
|||
| Fixed charges |
264 | ||
| Interest capitalized, net of amortization |
1 | ||
| Earnings available for fixed charges |
$ | 2,758 | |
| Fixed charges: |
|||
| Interest incurred |
$ | 242 | |
| Portion of rent expense deemed to represent interest factor |
22 | ||
| Fixed charges |
$ | 264 | |
| Ratio of earnings to fixed charges |
10.4 | ||
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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 | ||||||||||||||
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