Altria (MO) 8-K Other Events

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,
	2016			2015			2014			2013			2012
Earnings before income taxes	$	21,852		$	8,078		$	7,774		$	6,942		$	6,477
Add (deduct):
Equity in net earnings of less than 50% owned affiliates	(800		)	(755		)	(1,011		)	(993		)	(1,229		)
Dividends from less than 50% owned affiliates	739			495			459			443			404
Fixed charges	768			821			879			1,104			1,165
Interest capitalized, net of amortization	—			14			6			(7		)	(4		)
Earnings available for fixed charges	$	22,559		$	8,653		$	8,107		$	7,489		$	6,813
Fixed charges:
Interest incurred (1)	$	750		$	805		$	861		$	1,087		$	1,148
Portion of rent expense deemed to represent interest factor	18			16			18			17			17
Fixed charges	$	768		$	821		$	879		$	1,104		$	1,165
Ratio of earnings to fixed charges (2)	29.4			10.5			9.2			6.8			5.8
(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.
(2) The ratio of earnings to fixed charges for the year ended December 31, 2016 includes the Gain on AB InBev/SABMiller business combination. Excluding this gain, the ratio of earnings to fixed charges would have been 11.3 for the year ended December 31, 2016.