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