EX-12 2 exhibit12computationofrati.htm STATEMENTS REGARDING COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

|  |  |  | Exhibit 12
| Altria Group, Inc. and Subsidiaries
| Computation of Ratios of Earnings to Fixed Charges
| (in millions of dollars)
|  | For the Nine Months Ended September 30, 2014 |  | For the Three Months Ended September 30, 2014
| Earnings before income taxes | $ | 5,865 |  |  | $ | 2,114 |
| Add (deduct): |  |  |
| Equity in net earnings of less than 50% owned affiliates | (757 | ) |  | (330 | )
| Dividends from less than 50% owned affiliates | 346 |  |  | 346 |
| Fixed charges | 655 |  |  | 217 |
| Interest capitalized, net of amortization | 8 |  |  | 1 |
| Earnings available for fixed charges | $ | 6,117 |  |  | $ | 2,348 |
| Fixed charges: |  |  |
| Interest incurred (1) | $ | 643 |  |  | $ | 213 |
| Portion of rent expense deemed to represent interest factor | 12 |  |  | 4 |
| Fixed charges | $ | 655 |  |  | $ | 217 |
| Ratio of earnings to fixed charges | 9.3 |  |  | 10.8 |
| (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.

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Altria Group, Inc. and Subsidiaries
Computation of Ratios of Earnings to Fixed Charges
(in millions of dollars)
| For the Years Ended December 31,
| 2013 |  | 2012 |  | 2011 |  | 2010 |  | 2009
Earnings before income taxes | $ | 6,942 |  |  | $ | 6,477 |  |  | $ | 5,582 |  |  | $ | 5,723 |  |  | $ | 4,877 |
Add (deduct): |  |  |  |  |  |  |  |  |
Equity in net earnings of less than 50% owned affiliates | (993 | ) |  | (1,229 | ) |  | (741 | ) |  | (631 | ) |  | (601 | )
Dividends from less than 50% owned affiliates | 443 |  |  | 404 |  |  | 374 |  |  | 303 |  |  | 254 |
Fixed charges | 1,104 |  |  | 1,165 |  |  | 1,254 |  |  | 1,152 |  |  | 1,249 |
Interest capitalized, net of amortization | (7 | ) |  | (4 | ) |  | (2 | ) |  | 26 |  |  | 5 |
Earnings available for fixed charges | $ | 7,489 |  |  | $ | 6,813 |  |  | $ | 6,467 |  |  | $ | 6,573 |  |  | $ | 5,784 |
Fixed charges: |  |  |  |  |  |  |  |  |
Interest incurred (1) | $ | 1,087 |  |  | $ | 1,148 |  |  | $ | 1,233 |  |  | $ | 1,133 |  |  | $ | 1,230 |
Portion of rent expense deemed to represent interest factor | 17 |  |  | 17 |  |  | 21 |  |  | 19 |  |  | 19 |
Fixed charges | $ | 1,104 |  |  | $ | 1,165 |  |  | $ | 1,254 |  |  | $ | 1,152 |  |  | $ | 1,249 |
Ratio of earnings to fixed charges | 6.8 |  |  | 5.8 |  |  | 5.2 |  |  | 5.7 |  |  | 4.6 |
(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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