Philip Morris International Inc. - FORM 10-Q - EX-12 - STATEMENT REGARDING COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES - August 6, 2010

Attached files

file filename
10-Q - FORM 10-Q - Philip Morris International Inc.d10q.htm
EX-32.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER - Philip Morris International Inc.dex322.htm
EX-31.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER - Philip Morris International Inc.dex311.htm
EX-32.1 - CERTIFICATION OF CHIEF EXECUTIVE OFFICER - Philip Morris International Inc.dex321.htm
EX-31.2 - CERTIFICATION OF CHIEF FINANCIAL OFFICER - Philip Morris International Inc.dex312.htm
EX-10.1 - RETIREMENT AGREEMENT WITH JEAN-CLAUDE KUNZ - Philip Morris International Inc.dex101.htm

Exhibit 12

PHILIP MORRIS INTERNATIONAL INC. AND SUBSIDIARIES

Computation of Ratios of Earnings to Fixed Charges

(in millions of dollars)

 

     Six  Months
Ended
June 30, 2010		    Three  Months
Ended
June 30, 2010

Earnings before income taxes

    $ 5,175    $ 2,683

Add (deduct):

      

Equity in net loss of less than 50% owned affiliates

      3      2

Dividends from less than 50% owned affiliates

      

Fixed charges

      528      264

Interest capitalized, net of amortization

      2      1
             

Earnings available for fixed charges

    $ 5,708    $ 2,950
             

Fixed charges:

      

Interest incurred

    $ 484    $ 242

Portion of rent expense deemed to represent interest factor

      44      22
             

Fixed charges

    $ 528    $ 264
             

Ratio of earnings to fixed charges

      10.8      11.2
             

 

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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,  
     2009    2008     2007     2006     2005  

Earnings before income taxes

    $ 9,243    $ 9,937      $ 8,884      $ 8,208      $ 7,636   

Add (deduct):

            

Equity in net loss (earnings) of less than 50% owned affiliates

      6      64        (100 )      (163 )      (176 ) 

Dividends from less than 50% owned affiliates

         12        100        154        127   

Fixed charges

      1,006      618        359        446        407   

Interest capitalized, net of amortization

      2      (11 )      (8 )      (4 )     (12 ) 
                                       

Earnings available for fixed charges

    $ 10,257    $ 10,620      $ 9,235      $ 8,641      $ 7,982   
                                       

Fixed charges:

            

Interest incurred

    $ 920    $ 543      $ 280      $ 378      $ 340   

Portion of rent expense deemed to represent interest factor

      86      75        79        68        67  
                                       

Fixed charges

    $ 1,006    $ 618      $ 359      $ 446      $ 407   
                                       

Ratio of earnings to fixed charges

      10.2      17.2        25.7        19.4        19.6   
                                       

 

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Philip Morris International Inc. Reports