Exhibit 12

PHILIP MORRIS INTERNATIONAL INC. AND SUBSIDIARIES

Computation of Ratios of Earnings to Fixed Charges

(in millions of dollars)

	Six  Months Ended June 30, 2010		Three  Months Ended June 30, 2010
Earnings before income taxes	$	5,175	$	2,683
Add (deduct):
Equity in net loss of less than 50% owned affiliates		3		2
Dividends from less than 50% owned affiliates
Fixed charges		528		264
Interest capitalized, net of amortization		2		1
Earnings available for fixed charges	$	5,708	$	2,950
Fixed charges:
Interest incurred	$	484	$	242
Portion of rent expense deemed to represent interest factor		44		22
Fixed charges	$	528	$	264
Ratio of earnings to fixed charges		10.8		11.2

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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,
	2009		2008			2007			2006			2005
Earnings before income taxes	$	9,243	$	9,937		$	8,884		$	8,208		$	7,636
Add (deduct):
Equity in net loss (earnings) of less than 50% owned affiliates		6		64			(100	)		(163	)		(176	)
Dividends from less than 50% owned affiliates				12			100			154			127
Fixed charges		1,006		618			359			446			407
Interest capitalized, net of amortization		2		(11	)		(8	)		(4	)		(12	)
Earnings available for fixed charges	$	10,257	$	10,620		$	9,235		$	8,641		$	7,982
Fixed charges:
Interest incurred	$	920	$	543		$	280		$	378		$	340
Portion of rent expense deemed to represent interest factor		86		75			79			68			67
Fixed charges	$	1,006	$	618		$	359		$	446		$	407
Ratio of earnings to fixed charges		10.2		17.2			25.7			19.4			19.6

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