Attached files
| file | filename |
|---|---|
| 10-Q - 10-Q - Philip Morris International Inc. | pm-093017x10qxdoc.htm |
| EX-32.2 - EXHIBIT 32.2 - Philip Morris International Inc. | pm-ex322_093017xq3.htm |
| EX-31.1 - EXHIBIT 31.1 - Philip Morris International Inc. | pm-ex311_093017xq3.htm |
| EX-31.2 - EXHIBIT 31.2 - Philip Morris International Inc. | pm-ex312_093017xq3.htm |
| EX-32.1 - EXHIBIT 32.1 - Philip Morris International Inc. | pm-ex321_093017xq3.htm |
Exhibit 12
PHILIP MORRIS INTERNATIONAL INC. AND SUBSIDIARIES
Computation of Ratios of Earnings to Fixed Charges
(in millions of dollars)
Nine Months Ended September 30, 2017 | Three Months Ended September 30, 2017 | ||||||
Earnings before income taxes | $ | 7,530 | $ | 2,845 | |||
Add (deduct): | |||||||
Dividends from less than 50% owned affiliates | 43 | 10 | |||||
Fixed charges | 861 | 295 | |||||
Interest capitalized, net of amortization | — | — | |||||
Earnings available for fixed charges | $ | 8,434 | $ | 3,150 | |||
Fixed charges: | |||||||
Interest incurred | $ | 790 | $ | 271 | |||
Portion of rent expense deemed to represent interest factor | 71 | 24 | |||||
Fixed charges | $ | 861 | $ | 295 | |||
Ratio of earnings to fixed charges | 9.8 | 10.7 | |||||
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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, | |||||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||
Earnings before income taxes | $ | 9,924 | $ | 9,615 | $ | 10,650 | $ | 12,542 | $ | 13,004 | |||||||||
Add (deduct): | |||||||||||||||||||
Dividends from less than 50% owned affiliates | 117 | 127 | 107 | 1 | — | ||||||||||||||
Fixed charges | 1,166 | 1,232 | 1,284 | 1,216 | 1,115 | ||||||||||||||
Interest capitalized, net of amortization | — | (3 | ) | 1 | 4 | 2 | |||||||||||||
Earnings available for fixed charges | $ | 11,207 | $ | 10,971 | $ | 12,042 | $ | 13,763 | $ | 14,121 | |||||||||
Fixed charges: | |||||||||||||||||||
Interest incurred | $ | 1,071 | $ | 1,137 | $ | 1,172 | $ | 1,105 | $ | 1,009 | |||||||||
Portion of rent expense deemed to represent interest factor | 95 | 95 | 112 | 111 | 106 | ||||||||||||||
Fixed charges | $ | 1,166 | $ | 1,232 | $ | 1,284 | $ | 1,216 | $ | 1,115 | |||||||||
Ratio of earnings to fixed charges | 9.6 | 8.9 | 9.4 | 11.3 | 12.7 | ||||||||||||||
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