Attached files
| file | filename |
|---|---|
| 8-K - 8-K - Philip Morris International Inc. | form8-k2x07x13yefinancials.htm |
| EX-23 - CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - Philip Morris International Inc. | pm-ex23q42012consent.htm |
| EX-99.2 - REPORT OF MANAGEMENT ON INTERNAL CONTROL OVER FINANCIAL REPORTING - Philip Morris International Inc. | pm-ex992q42012mgmtrepicfr.htm |
| EX-99.3 - REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM - Philip Morris International Inc. | pm-ex993q42012auditopinion.htm |
| EX-99.1 - FINANCIAL STATEMENTS - Philip Morris International Inc. | pm-ex991q42012yefinancials.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, | |||||||||||||||||||
2012 | 2011 | 2010 | 2009 | 2008 | |||||||||||||||
Earnings before income taxes | $ | 12,987 | $ | 12,532 | $ | 10,324 | $ | 9,243 | $ | 9,937 | |||||||||
Add (deduct): | |||||||||||||||||||
Equity in net loss (earnings) of less than 50% owned affiliates | 17 | 10 | 8 | 6 | 64 | ||||||||||||||
Dividends from less than 50% owned affiliates | — | — | — | — | 12 | ||||||||||||||
Fixed charges | 1,115 | 1,042 | 1,069 | 1,006 | 618 | ||||||||||||||
Interest capitalized, net of amortization | 2 | (2 | ) | 1 | 2 | (11 | ) | ||||||||||||
Earnings available for fixed charges | $ | 14,121 | $ | 13,582 | $ | 11,402 | $ | 10,257 | $ | 10,620 | |||||||||
Fixed charges: | |||||||||||||||||||
Interest incurred | $ | 1,009 | $ | 940 | $ | 976 | $ | 920 | $ | 543 | |||||||||
Portion of rent expense deemed to represent interest factor | 106 | 102 | 93 | 86 | 75 | ||||||||||||||
Fixed charges | $ | 1,115 | $ | 1,042 | $ | 1,069 | $ | 1,006 | $ | 618 | |||||||||
Ratio of earnings to fixed charges | 12.7 | 13.0 | 10.7 | 10.2 | 17.2 | ||||||||||||||
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