Attached files
| file | filename |
|---|---|
| 8-K - 8-K - Philip Morris International Inc. | form8-k2x04x16yefinancials.htm |
| EX-23 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - Philip Morris International Inc. | pm-ex23q42015consent.htm |
| EX-99.2 - REPORT OF MANAGEMENT ON INTERNAL CONTROL OVER FINANCIAL REPORTING - Philip Morris International Inc. | pm-ex992q42015mgmtrepicfr.htm |
| EX-99.3 - REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - Philip Morris International Inc. | pm-ex993q42015auditopinion.htm |
| EX-99.1 - FINANCIAL STATEMENTS - Philip Morris International Inc. | pm-ex991q42015yefinancials.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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