EX-12 4 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 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.

1

|  |  |  |  |  |  |  |  | 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.

2