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Content analysis
?Positive | ||
Negative | ||
Uncertain | ||
Constraining | ||
Legalese | ||
Litigous | ||
Readability |
8th grade Good
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New words:
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Removed:
AB, acquired, adjustment, affiliation, amend, Argentine, assertion, benchmark, Bologna, bottom, Bucharest, Bulgaria, call, capsule, Carso, Center, charge, China, choose, Classification, commercially, composition, conducting, conform, consistently, constitute, contemplated, content, criteria, Croatia, Czech, derived, desire, Diana, differentiated, discrimination, dissolution, dissolvable, dissolved, drafted, Duke, economy, education, ending, English, essentially, excessively, exclusion, exempt, exercise, expired, extreme, feel, fight, Fitch, flat, format, Fortune, fundamental, fundamentally, gap, gold, gradual, grown, Grupo, HM, IDX, imposing, improved, improving, incremental, indoor, intellectual, interfere, introducing, issue, Jackpot, Jed, Kazakh, Kiev, launch, layout, left, legislative, locally, Match, Mechanism, mentioned, met, Ministerial, Moscow, movement, mutually, narrowed, neutral, noncurrent, Obama, originally, OTP, outright, owed, package, palatability, Partnership, passed, peacekeeping, plant, PMID, Portugal, positive, precise, presence, priced, proceeding, Professor, prohibited, project, propose, prospectively, PT, qualitative, real, reclassification, Red, repaid, representing, Republic, repurchasing, requirement, resale, reversal, revert, rigorously, ritual, robust, Rome, Rose, Rp, Sampoerna, satisfaction, satisfied, Scandinavia, secret, select, sensory, separation, shared, shareholding, shipped, silver, Similarly, SKM, sound, spending, Stable, submit, suggest, Sweden, Swedish, SWMA, taxed, Tbk, tenge, today, toxicological, TPP, Turin, twelve, unfair, University, Uruguay, viability, viable, White, York
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Exhibit 12
PHILIP MORRIS INTERNATIONAL INC. AND SUBSIDIARIES
Computation of Ratios of Earnings to Fixed Charges
(in millions of dollars)
Three Months Ended March 31, 2017 | |||
Earnings before income taxes | $ | 2,177 | |
Add (deduct): | |||
Dividends from less than 50% owned affiliates | — | ||
Fixed charges | 284 | ||
Interest capitalized, net of amortization | — | ||
Earnings available for fixed charges | $ | 2,461 | |
Fixed charges: | |||
Interest incurred | $ | 260 | |
Portion of rent expense deemed to represent interest factor | 24 | ||
Fixed charges | $ | 284 | |
Ratio of earnings to fixed charges | 8.7 |
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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, | |||||||||||||||||||
2016 | 2015 | 2014 | 2013 | 2012 | |||||||||||||||
Earnings before income taxes | $ | 9,924 | $ | 9,615 | $ | 10,650 | $ | 12,542 | $ | 13,004 | |||||||||
Add (deduct): | |||||||||||||||||||
Dividends from less than 50% owned affiliates | 117 | 127 | 107 | 1 | — | ||||||||||||||
Fixed charges | 1,166 | 1,232 | 1,284 | 1,216 | 1,115 | ||||||||||||||
Interest capitalized, net of amortization | — | (3 | ) | 1 | 4 | 2 | |||||||||||||
Earnings available for fixed charges | $ | 11,207 | $ | 10,971 | $ | 12,042 | $ | 13,763 | $ | 14,121 | |||||||||
Fixed charges: | |||||||||||||||||||
Interest incurred | $ | 1,071 | $ | 1,137 | $ | 1,172 | $ | 1,105 | $ | 1,009 | |||||||||
Portion of rent expense deemed to represent interest factor | 95 | 95 | 112 | 111 | 106 | ||||||||||||||
Fixed charges | $ | 1,166 | $ | 1,232 | $ | 1,284 | $ | 1,216 | $ | 1,115 | |||||||||
Ratio of earnings to fixed charges | 9.6 | 8.9 | 9.4 | 11.3 | 12.7 |
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