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Philip Morris International 10-Q 2011

Documents found in this filing:

  1. 10-Q
  2. Ex-12
  3. Ex-31.1
  4. Ex-31.2
  5. Ex-32.1
  6. Ex-32.2
  7. Ex-32.2
Statement regarding computation of ratios of earnings to fixed charges.

Exhibit 12

PHILIP MORRIS INTERNATIONAL INC. AND SUBSIDIARIES

Computation of Ratios of Earnings to Fixed Charges

(in millions of dollars)

 

     Three  Months
Ended
March 31, 2011

Earnings before income taxes

     $       2,794  

Add (deduct):

    

Equity in net loss of less than 50% owned affiliates

       2  

Dividends from less than 50% owned affiliates

    

Fixed charges

       261  

Interest capitalized, net of amortization

       -  
          

Earnings available for fixed charges

     $     3,057  
          

Fixed charges:

    

Interest incurred

     $       238  

Portion of rent expense deemed to represent interest factor

       23  
          

Fixed charges

     $       261  
          

Ratio of earnings to fixed charges

       11.7  
          

 

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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,
      2010      2009      2008    2007    2006

Earnings before income taxes

     $   10,324          $ 9,243          $ 9,937        $     8,884        $     8,208  

Add (deduct):

                            

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

       8            6            64          (100 )        (163 )

Dividends from less than 50%
owned affiliates

                     12          100          154  

Fixed charges

       1,069            1,006            618          359          446  

Interest capitalized, net of
amortization

       1            2            (11 )        (8 )        (4 )
                                                          

Earnings available for fixed charges

     $ 11,402          $   10,257          $   10,620        $ 9,235        $ 8,641  
                                                          

Fixed charges:

                            

Interest incurred

     $ 976          $ 920          $ 543        $ 280        $ 378  

Portion of rent expense deemed to
represent interest factor

       93            86            75          79          68  
                                                          

Fixed charges

     $ 1,069          $ 1,006          $ 618        $ 359        $ 446  
                                                          

Ratio of earnings to fixed charges

       10.7            10.2            17.2          25.7          19.4  
                                                          

 

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