Philip Morris International Inc. (PM) Financial Statements (2025 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)

3/31/2025
MRQ
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments4,2163,0603,2074,4967,2806,861
Cash and cash equivalent4,2163,0603,2074,4967,2806,861
Receivables4,6754,3914,7563,9403,7613,717
Inventory, net of allowances, customer advances and progress billings9,45310,7749,8868,7209,5919,235
Inventory9,45310,7749,8868,7209,5919,235
Other current assets1,8261,5301,770561860701
Total current assets:20,17019,75519,61917,71721,49220,514
Noncurrent Assets
Operating lease, right-of-use asset      766
Property, plant and equipment 16,68517,08015,44314,7326,3656,631
Long-term investments and receivables2,6544,9294,4314,4634,7981,053
Long-term investments2,6544,9294,4314,4634,7981,053
Accounts and financing receivable, after allowance for credit loss      
Intangible assets, net (including goodwill)27,92726,64326,3879,4987,9837,971
Goodwill16,60016,77919,6556,6805,9645,858
Intangible assets, net (excluding goodwill)11,3279,8646,7322,8182,0192,113
Deferred income tax assets9408146038951,4101,153
Other noncurrent assets2,7835,6473,9312,5492,7671,971
Other undisclosed noncurrent assets(9,375)(9,564)(8,733)(8,564) 2,816
Total noncurrent assets:41,61445,54942,06223,57323,32322,361
TOTAL ASSETS:61,78465,30461,68141,29044,81542,875
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities19,38619,71719,08816,23216,24714,444
Interest and dividends payable1,9581,8801,831
Taxes payable7,3497,4946,633
Employee-related liabilities1,1461,1891,042
Accounts payable3,9524,1434,0763,3312,7802,299
Accrued liabilities15,43415,57415,0122,4482,9042,639
Debt3,5296,6668,2483,0233,3684,389
Total current liabilities:22,91526,38327,33619,25519,61518,833
Noncurrent Liabilities
Long-term debt and lease obligation, including:42,16641,24334,87524,78328,16826,656
Finance lease, liability 302320233756
Other undisclosed long-term debt and lease obligation42,13641,22034,85524,41627,61426,031
Liabilities, other than long-term debt5,8846,1374,3763,6945,1544,542
Accounts payable and accrued liabilities  300    
Deferred income tax liabilities2,5172,3351,956726684908
Liability, pension and other postretirement and postemployment benefits2,9403,0461,9842,9684,4703,634
Other liabilities      
Operating lease, liability 427456436344517569
Other undisclosed noncurrent liabilities 6899871,4051,7662,5092,443
Total noncurrent liabilities:48,73948,36740,65630,24335,83133,641
Total liabilities:71,65474,75067,99249,49855,44652,474
Equity
Equity, attributable to parent(11,750)(11,225)(8,957)(10,106)(12,567)(11,577)
Treasury stock, value(35,640)(35,785)(35,917)(35,836)(35,129)(35,220)
Additional paid in capital2,3352,2852,2302,2252,1052,019
Accumulated other comprehensive loss(11,314)(11,815)(9,559)(9,577)(11,181)(9,363)
Retained earnings32,86934,09034,28933,08231,63830,987
Equity, attributable to noncontrolling interest1,8801,7792,6461,8981,9361,978
Total equity:(9,870)(9,446)(6,311)(8,208)(10,631)(9,599)
TOTAL LIABILITIES AND EQUITY:61,78465,30461,68141,29044,81542,875

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

3/31/2025
TTM
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
Revenues37,87835,17431,76231,40528,69429,805
Cost of revenue
(Cost of Product and Service Sold)
(13,329)(12,893)(11,402)(10,030)(9,569)(10,513)
Gross profit:24,54922,28120,36021,37519,12519,292
Other undisclosed operating loss(11,147)(10,725)(8,114)(8,400)(7,457)(8,761)
Operating income:13,40211,55612,24612,97511,66810,531
Nonoperating income (expense)560420156(6)13137
Investment income, nonoperating 620465180109110226
Net periodic defined benefits expense (reversal of expense), excluding service cost component(60)(45)(24)(115)(97)(89)
Interest and debt expense(1,763)(1,526)(768)(737)(728)(796)
Other undisclosed income from continuing operations before equity method investments, income taxes      
Income from continuing operations before equity method investments, income taxes:12,19910,45011,63412,23210,9539,872
Income from equity method investments637157    
Income from continuing operations before income taxes:12,83610,60711,63412,23210,9539,872
Income tax expense(3,017)(2,339)(2,244)(2,671)(2,377)(2,293)
Income from continuing operations:9,8198,2689,3909,5618,5767,579
Income before gain (loss) on sale of properties:9,5618,5767,579
Other undisclosed net income (loss)(2,316) 13714916149
Net income:7,5038,2689,5279,7108,5927,728
Net loss attributable to noncontrolling interest(446)(455)(479)(601)(536)(543)
Net income attributable to parent:7,0577,8139,0489,1098,0567,185
Other undisclosed net loss available to common stockholders, basic(23)(22)(24)(26)  
Net income available to common stockholders, diluted:7,0347,7919,0249,0838,0567,185

Comprehensive Income ($ in millions)

3/31/2025
TTM
12/31/2024
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
Net income:7,5038,2689,5279,7108,5927,728
Other comprehensive income (loss)400(2,430)541,525(1,780)791
Comprehensive income:7,9035,8389,58111,2356,8128,519
Comprehensive loss, net of tax, attributable to noncontrolling interest(345)(281)(515)(522)(574)(586)
Comprehensive income, net of tax, attributable to parent:7,5585,5579,06610,7136,2387,933

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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