Philip Morris International Inc (PM) financial statements (2021 and earlier)

Company profile

Business Address 120 PARK AVENUE
NEW YORK, NY 10017
State of Incorp. VA
Fiscal Year End December 31
SIC 2111 - Cigarettes (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments7,2804,8214,2003,7466,8616,5074,008
Cash and cash equivalents7,2804,8214,2003,7466,8616,5074,008
Receivables3,7613,7123,9443,3343,7173,7294,074
Inventory, net of allowances, customer advances and progress billings9,5918,1608,9689,0459,2358,5298,255
Inventory9,5918,1608,9689,0459,2358,5298,255
Other current assets860760664736701810826
Total current assets:21,49217,45317,77616,86120,51419,57517,163
Noncurrent Assets
Operating lease, right-of-use asset    766716710
Property, plant and equipment6,3656,1346,1846,1076,6316,6366,917
Long-term investments and receivables4,7989189769231,0531,0361,074
Long-term investments4,7989189769231,0531,0361,074
Intangible assets, net (including goodwill)7,9837,5737,6017,1347,9717,8087,958
Goodwill5,9645,6475,6535,2845,8585,7205,828
Intangible assets, net (excluding goodwill)2,0191,9261,9481,8502,1132,0882,130
Deferred income tax assets1,4101,2251,1591,1131,1539681,042
Other noncurrent assets2,7672,1651,9261,8891,9711,9342,178
Other undisclosed noncurrent assets 3,6613,5403,4672,8162,7472,881
Total noncurrent assets:23,32321,67621,38620,63322,36121,84522,760
TOTAL ASSETS:44,81539,12939,16237,49442,87541,42039,923
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities16,24713,38113,20713,21314,44412,65513,015
Accounts payable2,7802,1551,9912,0732,2991,7041,708
Accrued liabilities2,9042,6492,3742,6562,6392,4542,401
Employee-related liabilities1,1899819287831,042813748
Taxes payable7,4945,7176,0815,8696,6335,8536,374
Interest and dividends payable1,8801,8791,8331,8321,8311,8311,784
Debt3,3682,1442,5853,3714,3895,3905,031
Total current liabilities:19,61515,52515,79216,58418,83318,04518,046
Noncurrent Liabilities
Long-term debt and lease obligation, including:28,16827,34627,04324,99926,65626,42624,858
Finance lease, liability3745474956  
Operating lease, liability517   569529524
Other undisclosed long-term debt and lease obligation27,61427,30126,99624,95026,03125,89724,334
Liabilities, other than long-term debt5,1544,2504,3224,3984,5423,7643,738
Deferred income tax liabilities684661775838908905786
Liability, pension and other postretirement and postemployment benefits4,4703,5893,5473,5603,6342,8592,952
Other undisclosed noncurrent liabilities2,5092,2532,1252,5762,4432,3402,690
Total noncurrent liabilities:35,83133,84933,49031,97333,64132,53031,286
Total liabilities:55,44649,37449,28248,55752,47450,57549,332
Stockholders' equity
Stockholders' equity attributable to parent(12,567)(12,092)(11,997)(12,944)(11,577)(11,010)(11,199)
Treasury stock, value(35,129)(35,133)(35,135)(35,146)(35,220)(35,222)(35,224)
Additional paid in capital2,1052,0712,0441,9922,0191,9811,948
Accumulated other comprehensive loss(11,181)(10,567)(10,009)(10,774)(9,363)(8,966)(9,051)
Retained earnings31,63831,53731,10330,98430,98731,19731,128
Stockholders' equity attributable to noncontrolling interest1,9361,8471,8771,8811,9781,8551,790
Total stockholders' equity:(10,631)(10,245)(10,120)(11,063)(9,599)(9,155)(9,409)
TOTAL LIABILITIES AND EQUITY:44,81539,12939,16237,49442,87541,42039,923

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

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
Revenues7,4447,4466,6517,1537,7137,6427,699
Cost of revenue
(Cost of Goods and Services Sold)
(2,572)(2,416)(2,179)(2,402)(2,778)(2,605)(2,665)
Gross profit:4,8725,0304,4724,7514,9355,0375,034
Operating expenses (18)(19)  (15)(16)
Other undisclosed operating loss(1,967)(1,769)(1,722)(1,962)(2,429)(2,234)(1,831)
Operating income:2,9053,2432,7312,7892,5062,7883,187
Nonoperating income (expense)81(23)(22)(23)198(20)(20)
Net periodic defined benefits expense (reversal of expense), excluding service cost component (23)(22)(23) (20)(20)
Other undisclosed loss from continuing operations before equity method investments, income taxes(274)(163)(162)(129)(362)(132)(150)
Income from continuing operations before income taxes:2,7123,0572,5472,6372,3422,6363,017
Income tax expense(613)(640)(528)(596)(623)(635)(611)
Income before gain (loss) on sale of properties:2,0992,4172,0192,0411,7192,0012,406
Other undisclosed net income (loss)202030(54)634530
Net income:2,1192,4372,0491,9871,7822,0462,436
Net loss attributable to noncontrolling interest(143)(130)(102)(161)(166)(150)(117)
Net income available to common stockholders, diluted:1,9762,3071,9471,8261,6161,8962,319

Comprehensive Income ($ in millions)

12/31/2020
Q4
9/30/2020
Q3
6/30/2020
Q2
3/31/2020
Q1
12/31/2019
Q4
9/30/2019
Q3
6/30/2019
Q2
Net income:2,1192,4372,0491,9871,7822,0462,436
Other comprehensive income (loss)(576)(547)834(1,491)(368)70216
Comprehensive income:1,5431,8902,8834961,4142,1162,652
Comprehensive loss, net of tax, attributable to noncontrolling interest(181)(141)(171)(81)(195)(135)(147)
Comprehensive income, net of tax, attributable to parent:1,3621,7492,7124151,2191,9812,505

Statements sources

The financial statements are based on the company's filings with the 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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