EX-12 2 exhibit12computationofrati.htm STATEMENTS REGARDING COMPUTATION OF RATIOS Exhibit 12 Computation of Ratios of Earnings to Fixed Charges (Q4 2013)
  

 
 
 
 
 


  

 
 
 
 
 
 
 
 
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,
 
2013
 
2012
 
2011
 
2010
 
2009
Earnings before income taxes
$
6,942

 
$
6,477

 
$
5,582

 
$
5,723

 
$
4,877

 
 
 
 
 
 
 
 
 
 
Add (deduct):
 
 
 
 
 
 
 
 
 
Equity in net earnings of less than 50% owned affiliates
(993
)
 
(1,229
)
 
(741
)
 
(631
)
 
(601
)
Dividends from less than 50% owned affiliates
443

 
404

 
374

 
303

 
254

Fixed charges
1,104

 
1,165

 
1,254

 
1,152

 
1,249

Interest capitalized, net of amortization
(7
)
 
(4
)
 
(2
)
 
26

 
5

Earnings available for fixed charges
$
7,489

 
$
6,813

 
$
6,467

 
$
6,573

 
$
5,784

 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
Interest incurred (a)
$
1,087

 
$
1,148

 
$
1,233

 
$
1,133

 
$
1,230

Portion of rent expense deemed to represent interest factor
17

 
17

 
21

 
19

 
19

Fixed charges
$
1,104

 
$
1,165

 
$
1,254

 
$
1,152

 
$
1,249

 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
6.8

 
5.8

 
5.2

 
5.7

 
4.6

 
 
 
 
 
 
 
 
 
 
(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.