Attached files

file filename
10-K - 10-K - Philip Morris International Inc.pm123115form10kwrapinclfsm.htm
EX-24 - POWERS OF ATTORNEY - Philip Morris International Inc.pm-ex24_123115xq4.htm
EX-23 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - Philip Morris International Inc.pm-ex23_123115xq4.htm
EX-31.2 - CERTIFICATION OF THE REGISTRANT'S CFO PURSUANT TO RULE 13A-14(A)/15D-14(A) - Philip Morris International Inc.pm-ex312_123115xq4.htm
EX-31.1 - CERTIFICATION OF THE REGISTRANT'S CEO PURSUANT TO RULE 13A-14(A)/15D-14(A) - Philip Morris International Inc.pm-ex311_123115xq4.htm
EX-32.1 - CERTIFICATION OF THE REGISTRANT'S CEO PURSUANT TO 18 U.S.C. 1350 - Philip Morris International Inc.pm-ex321_123115xq4.htm
EX-32.2 - CERTIFICATION OF THE REGISTRANT'S CFO PURSUANT TO 18 U.S.C. 1350 - Philip Morris International Inc.pm-ex322_123115xq4.htm
EX-10.52 - AMENDMENT NO. 1 TO THE CREDIT AGREEMENT - Philip Morris International Inc.pm-ex1052_123115xq4.htm
EX-21 - SUBSIDIARIES OF PHILIP MORRIS INTERNATIONAL INC. - Philip Morris International Inc.exhibit21-significantsubsi.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,
 
2015
 
2014
 
2013
 
2012
 
2011
Earnings before income taxes
$
9,615

 
$
10,650

 
$
12,542

 
$
13,004

 
$
12,542

Add (deduct):
 
 
 
 
 
 
 
 
 
Dividends from less than 50%
owned affiliates
127

 
107

 
1

 

 

Fixed charges
1,232

 
1,284

 
1,216

 
1,115

 
1,042

Interest capitalized, net of
amortization
(3
)
 
1

 
4

 
2

 
(2
)
Earnings available for fixed charges
$
10,971

 
$
12,042

 
$
13,763

 
$
14,121

 
$
13,582



Fixed charges:
 
 
 
 
 
 
 
 
 
Interest incurred
$
1,137

 
$
1,172

 
$
1,105

 
$
1,009

 
$
940

Portion of rent expense deemed to
represent interest factor
95

 
112

 
111

 
106

 
102

Fixed charges
$
1,232

 
$
1,284

 
$
1,216

 
$
1,115

 
$
1,042


Ratio of earnings to fixed charges
8.9

 
9.4

 
11.3

 
12.7

 
13.0



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