Philip Morris International Inc (PM) Financial Statements (2024 and earlier)

Company Profile

Business Address 677 WASHINGTON BLVD, STE. 1100
STAMFORD, CT 06901
State of Incorp. VA
Fiscal Year End December 31
Industry (SIC) 2111 - Cigarettes (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments3,0603,2074,4967,2806,8616,593
Cash and cash equivalents3,0603,2074,4967,2806,8616,593
Receivables4,3914,7563,9403,7613,7173,564
Inventory, net of allowances, customer advances and progress billings10,7749,8868,7209,5919,2358,804
Inventory10,7749,8868,7209,5919,2358,804
Other current assets1,5301,770561860701481
Total current assets:19,75519,61917,71721,49220,51419,442
Noncurrent Assets
Operating lease, right-of-use asset     766
Property, plant and equipment 17,08015,44314,7326,3656,6317,201
Long-term investments and receivables4,9294,4314,4634,7981,053981
Long-term investments4,9294,4314,4634,7981,053981
Accounts and financing receivable, after allowance for credit loss      
Intangible assets, net (including goodwill)26,64326,3879,4987,9837,9719,467
Goodwill16,77919,6556,6805,9645,8587,189
Intangible assets, net (excluding goodwill)9,8646,7322,8182,0192,1132,278
Deferred income tax assets8146038951,4101,153
Other noncurrent assets5,6473,9312,5492,7671,9711,445
Other undisclosed noncurrent assets(9,564)(8,733)(8,564) 2,8161,265
Total noncurrent assets:45,54942,06223,57323,32322,36120,359
TOTAL ASSETS:65,30461,68141,29044,81542,87539,801
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities19,71719,08816,23216,24714,44412,407
Interest and dividends payable1,9581,8801,8311,783
Taxes payable7,3497,4946,6335,664
Employee-related liabilities1,1461,1891,042794
Accounts payable4,1434,0763,3312,7802,2992,068
Accrued liabilities15,57415,0122,4482,9042,6392,098
Debt6,6668,2483,0233,3684,3894,784
Total current liabilities:26,38327,33619,25519,61518,83317,191
Noncurrent Liabilities
Long-term debt and lease obligation, including:41,24334,87524,78328,16826,65626,975
Capital lease obligations33
Finance lease, liability 2320233756
Other undisclosed long-term debt and lease obligation41,22034,85524,41627,61426,03126,942
Liabilities, other than long-term debt6,1374,3763,6945,1544,5423,083
Accounts payable and accrued liabilities 300     
Deferred income tax liabilities2,3351,956726684908
Liability, pension and other postretirement and postemployment benefits3,0461,9842,9684,4703,6343,083
Operating lease, liability 456436344517569
Other undisclosed noncurrent liabilities9871,4051,7662,5092,4433,291
Total noncurrent liabilities:48,36740,65630,24335,83133,64133,349
Total liabilities:74,75067,99249,49855,44652,47450,540
Equity
Equity, attributable to parent(11,225)(8,957)(10,106)(12,567)(11,577)(12,459)
Treasury stock, value(35,785)(35,917)(35,836)(35,129)(35,220)(35,301)
Additional paid in capital2,2852,2302,2252,1052,0191,939
Accumulated other comprehensive loss(11,815)(9,559)(9,577)(11,181)(9,363)(10,111)
Retained earnings34,09034,28933,08231,63830,98731,014
Equity, attributable to noncontrolling interest1,7792,6461,8981,9361,9781,720
Total equity:(9,446)(6,311)(8,208)(10,631)(9,599)(10,739)
TOTAL LIABILITIES AND EQUITY:65,30461,68141,29044,81542,87539,801

Income Statement (P&L) ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues35,17431,76231,40528,69429,80529,625
Cost of revenue
(Cost of Goods and Services Sold)
(12,893)(11,402)(10,030)(9,569)(10,513)(10,758)
Gross profit:22,28120,36021,37519,12519,29218,867
Other undisclosed operating loss(10,725)(8,114)(8,400)(7,457)(8,761)(7,490)
Operating income:11,55612,24612,97511,66810,53111,377
Nonoperating income (expense)420156(6)13137149
Investment income, nonoperating 465180109110226190
Net periodic defined benefits expense (reversal of expense), excluding service cost component(45)(24)(115)(97)(89)(41)
Interest and debt expense(1,526)(768)(737)(728)(796)(855)
Other undisclosed loss from continuing operations before equity method investments, income taxes      
Income from continuing operations before equity method investments, income taxes:10,45011,63412,23210,9539,87210,671
Income from equity method investments157     
Income from continuing operations before income taxes:10,60711,63412,23210,9539,87210,671
Income tax expense(2,339)(2,244)(2,671)(2,377)(2,293)(2,445)
Income from continuing operations:8,2689,3909,5618,5767,5798,226
Income before gain (loss) on sale of properties:9,5618,5767,5798,226
Other undisclosed net income (loss) 1371491614960
Net income:8,2689,5279,7108,5927,7288,286
Net loss attributable to noncontrolling interest(455)(479)(601)(536)(543)(375)
Net income attributable to parent:7,8139,0489,1098,0567,1857,911
Other undisclosed net loss available to common stockholders, basic(22)(24)(26)   
Net income available to common stockholders, diluted:7,7919,0249,0838,0567,1857,911

Comprehensive Income ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:8,2689,5279,7108,5927,7288,286
Other comprehensive income (loss)(2,430)541,525(1,780)791(1,647)
Comprehensive income:5,8389,58111,2356,8128,5196,639
Comprehensive loss, net of tax, attributable to noncontrolling interest(281)(515)(522)(574)(586)(304)
Comprehensive income, net of tax, attributable to parent:5,5579,06610,7136,2387,9336,335

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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