Altria (MO) 10-Q 2015 Q2 Quarterly report

	Exhibit 12
Altria Group, Inc. and Subsidiaries
Computation of Ratios of Earnings to Fixed Charges
(in millions of dollars)
	For the Six Months Ended June 30, 2015
Earnings before income taxes	$	3,816
Add (deduct):
Equity in net earnings of less than 50% owned affiliates	(357		)
Fixed charges	416
Amortization of capitalized interest	7
Earnings available for fixed charges	$	3,882
Fixed charges:
Interest incurred (1)	$	407
Portion of rent expense deemed to represent interest factor	9
Fixed charges	$	416
Ratio of earnings to fixed charges	9.3
(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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