ALTRIA GROUP, INC. - FORM 8-K - EX-12 - STATEMENT REGARDING COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES - January 28, 2010

Attached files

file filename
8-K - FORM 8-K - ALTRIA GROUP, INC.d8k.htm
EX-23 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - ALTRIA GROUP, INC.dex23.htm
EX-99.1 - FINANCIAL STATEMENTS - ALTRIA GROUP, INC.dex991.htm
EX-99.3 - REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - ALTRIA GROUP, INC.dex993.htm
EX-99.2 - REPORT OF MANAGEMENT ON INTERNAL CONTROL OVER FINANCIAL REPORTING - ALTRIA GROUP, INC.dex992.htm
EX-99.4 - FINANCIAL STATEMENT SCHEDULE - VALUATION AND QUALIFYING ACCOUNTS - ALTRIA GROUP, INC.dex994.htm
EX-99.5 - REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - ALTRIA GROUP, INC.dex995.htm

Exhibit 12

ALTRIA GROUP, 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 from continuing operations before income taxes

    $ 4,877      $ 4,789      $ 4,678      $ 4,753      $ 4,123   

Add (deduct):

           

Equity in net earnings of less than 50% owned affiliates

      (601 )      (471 )      (516 )      (466 )      (447 ) 

Dividends from less than 50% owned affiliates

      254        249        224        193        168   

Fixed charges

      1,249        529        888        1,613        1,881   

Interest capitalized, net of amortization

      5        (9 )      (5 )        5   
                                        

Earnings available for fixed charges

      $5,784      $ 5,087      $ 5,269      $ 6,093      $ 5,730   
                                        

Fixed charges:

           

Interest incurred (A):

           

Consumer products

    $ 1,210      $ 451      $ 697      $ 1,283      $ 1,525   

Financial services

      20        38        54        81        107   
                                        
     1,230        489        751        1,364        1,632   

Portion of rent expense deemed to represent interest factor

      19        40        137        249        249   
                                        

Fixed charges

    $ 1,249      $ 529      $ 888      $ 1,613      $ 1,881   
                                        

Ratio of earnings to fixed charges (B)

      4.6        9.6        5.9        3.8        3.0   
                                        

 

(A) Altria Group, Inc. includes interest relating to uncertain tax positions in its provision for income taxes, therefore such amounts are not included in fixed charges in the computation.

 

(B) Computation includes interest incurred and the portion of rent expense deemed to represent the interest factor from the discontinued operations of Philip Morris International Inc. and Kraft Foods Inc. in fixed charges. Excluding these amounts from fixed charges, the ratio of earnings to fixed charges from continuing operations would have been 12.5, 9.5, 7.6, and 5.7 for the years ended December 31, 2008, 2007, 2006, and 2005, respectively.

Stock widget

Investing forum

ALTRIA GROUP, INC. Reports

Also read