EX-12 4 exhibit12computationofrati.htm STATEMENTS REGARDING COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES Exhibit 12 Computation of Ratios of Earnings to Fixed Charges (Q1 2015)
  

 
 
 
 
 
 
 
Exhibit 12
 
Altria Group, Inc. and Subsidiaries
 
Computation of Ratios of Earnings to Fixed Charges
 
(in millions of dollars)
 
 
 
 
 
 
 
For the Three Months Ended March 31, 2015
 
Earnings before income taxes
 
$
1,562

 
 
 
 
 
Add (deduct):
 
 
 
Equity in net earnings of less than 50% owned affiliates
 
(131
)
 
Fixed charges
 
214

 
Interest capitalized, net of amortization
 
4

 
Earnings available for fixed charges
 
$
1,649

 
 
 
 
 
Fixed charges:
 
 
 
Interest incurred (1)
 
$
210

 
Portion of rent expense deemed to represent interest factor
 
4

 
Fixed charges
 
$
214

 
 
 
 
 
Ratio of earnings to fixed charges
 
7.7

 
 
 
 
 
(1) 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.
 
 
 
 
 
 


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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,
 
2014
 
2013
 
2012
 
2011
 
2010
Earnings before income taxes
$
7,774

 
$
6,942

 
$
6,477

 
$
5,582

 
$
5,723

 
 
 
 
 
 
 
 
 
 
Add (deduct):
 
 
 
 
 
 
 
 
 
Equity in net earnings of less than 50% owned affiliates
(1,011
)
 
(993
)
 
(1,229
)
 
(741
)
 
(631
)
Dividends from less than 50% owned affiliates
459

 
443

 
404

 
374

 
303

Fixed charges
879

 
1,104

 
1,165

 
1,254

 
1,152

Interest capitalized, net of amortization
6

 
(7
)
 
(4
)
 
(2
)
 
26

Earnings available for fixed charges
$
8,107

 
$
7,489

 
$
6,813

 
$
6,467

 
$
6,573

 
 
 
 
 
 
 
 
 
 
Fixed charges:
 
 
 
 
 
 
 
 
 
Interest incurred (1)
$
861

 
$
1,087

 
$
1,148

 
$
1,233

 
$
1,133

Portion of rent expense deemed to represent interest factor
18

 
17

 
17

 
21

 
19

Fixed charges
$
879

 
$
1,104

 
$
1,165

 
$
1,254

 
$
1,152

 
 
 
 
 
 
 
 
 
 
Ratio of earnings to fixed charges
9.2

 
6.8

 
5.8

 
5.2

 
5.7

 
 
 
 
 
 
 
 
 
 
(1) 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.


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