Philip Morris International (PM) 8-K Consolidated Financial Statements as of

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,
	2009		2008			2007			2006			2005
Earnings before income taxes	$	9,243	$	9,937		$	8,884		$	8,208		$	7,636
Add (deduct):
Equity in net loss (earnings) of less than 50% owned affiliates		6		64			(100	)		(163	)		(176	)
Dividends from less than 50% owned affiliates		—		12			100			154			127
Fixed charges		1,006		618			359			446			407
Interest capitalized, net of amortization		2		(11	)		(8	)		(4	)		(12	)
Earnings available for fixed charges	$	10,257	$	10,620		$	9,235		$	8,641		$	7,982
Fixed charges:
Interest incurred	$	920	$	543		$	280		$	378		$	340
Portion of rent expense deemed to represent interest factor		86		75			79			68			67
Fixed charges	$	1,006	$	618		$	359		$	446		$	407
Ratio of earnings to fixed charges		10.2		17.2			25.7			19.4			19.6