Philip Morris International Inc. - FORM 10-K - EX-12 - EXHIBIT 12 - February 13, 2018

Attached files

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10-K - 10-K - Philip Morris International Inc.pm123117form10kwrapinclfsm.htm
EX-32.2 - EXHIBIT 32.2 - Philip Morris International Inc.pm-ex322_123117xq4.htm
EX-32.1 - EXHIBIT 32.1 - Philip Morris International Inc.pm-ex321_123117xq4.htm
EX-31.2 - EXHIBIT 31.2 - Philip Morris International Inc.pm-ex312_123117xq4.htm
EX-31.1 - EXHIBIT 31.1 - Philip Morris International Inc.pm-ex311_123117xq4.htm
EX-24 - EXHIBIT 24 - Philip Morris International Inc.pm-ex24_123117xq4.htm
EX-23 - EXHIBIT 23 - Philip Morris International Inc.pm-ex23_123117xq4.htm
EX-21 - EXHIBIT 21 - Philip Morris International Inc.pm-ex21_123117xq4.htm
EX-10.30 - EXHIBIT 10.30 - Philip Morris International Inc.pm-ex1030con_martinkingxfi.htm
EX-10.26 - EXHIBIT 10.26 - Philip Morris International Inc.pm-ex1026nedcompensationpl.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,
 
2017
 
2016
 
2015
 
2014
 
2013
Earnings before income taxes
$
10,589

 
$
9,924

 
$
9,615

 
$
10,650

 
$
12,542

Add (deduct):
 
 
 
 
 
 
 
 
 
Dividends from less than 50%
owned affiliates
120

 
117

 
127

 
107

 
1

Fixed charges
1,203

 
1,166

 
1,232

 
1,284

 
1,216

Interest capitalized, net of
amortization
1

 
—

 
(3
)
 
1

 
4

Earnings available for fixed charges
$
11,913

 
$
11,207

 
$
10,971

 
$
12,042

 
$
13,763



Fixed charges:
 
 
 
 
 
 
 
 
 
Interest incurred
$
1,098

 
$
1,071

 
$
1,137

 
$
1,172

 
$
1,105

Portion of rent expense deemed to
represent interest factor
105

 
95

 
95

 
112

 
111

Fixed charges
$
1,203

 
$
1,166

 
$
1,232

 
$
1,284

 
$
1,216


Ratio of earnings to fixed charges
9.9

 
9.6

 
8.9

 
9.4

 
11.3



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Philip Morris International Inc. Reports