Philip Morris International Inc (PM) financial statements (2022 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)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments4,4967,2806,8616,5938,4474,2393,417
Cash and cash equivalents4,4967,2806,8616,5938,4474,2393,417
Receivables3,9403,7613,7173,5643,7383,4992,778
Inventory, net of allowances, customer advances and progress billings8,7209,5919,2358,8048,8069,0178,473
Inventory8,7209,5919,2358,8048,8069,0178,473
Other current assets561860701481603853648
Other undisclosed current assets      488
Total current assets:17,71721,49220,51419,44221,59417,60815,804
Noncurrent Assets
Operating lease, right-of-use asset  766
Property, plant and equipment14,7326,3656,6317,2017,2716,0645,721
Long-term investments and receivables4,4634,7981,0539811,0741,011890
Long-term investments4,4634,7981,0539811,0741,011890
Intangible assets, net (including goodwill)9,4987,9837,9719,46710,0989,79410,038
Goodwill6,6805,9645,8587,1897,6667,3247,415
Intangible assets, net (excluding goodwill)2,8182,0192,1132,2782,4322,4702,623
Deferred income tax assets8951,4101,153
Other noncurrent assets2,5492,7671,9711,4451,9241,5151,503
Other undisclosed noncurrent assets(8,564) 2,8161,2651,007859 
Total noncurrent assets:23,57323,32322,36120,35921,37419,24318,152
TOTAL ASSETS:41,29044,81542,87539,80142,96836,85133,956
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities16,23216,24714,44412,40712,95713,25111,950
Accounts payable3,3312,7802,2992,0682,2421,6661,289
Accrued liabilities2,4482,9042,6392,0982,0542,1282,078
Employee-related liabilities1,1461,1891,042794856800903
Taxes payable7,3497,4946,6335,6646,1367,0366,091
Interest and dividends payable1,9581,8801,8311,7831,6691,6211,589
Debt3,0233,3684,3894,7843,0053,2163,230
Deferred tax liabilities   206
Total current liabilities:19,25519,61518,83317,19115,96216,46715,386
Noncurrent Liabilities
Long-term debt and lease obligation, including:24,78328,16826,65626,97531,33425,85125,250
Finance lease, liability233756
Capital lease obligations33281313
Operating lease, liability344517569
Other undisclosed long-term debt and lease obligation24,41627,61426,03126,94231,30625,83825,237
Liabilities, other than long-term debt3,6945,1544,5423,0832,2713,5364,796
Deferred tax liabilities, net   1,543
Deferred income tax liabilities726684908
Liability, pension and other postretirement and postemployment benefits2,9684,4703,6343,0832,2712,8002,566
Other liabilities     736687
Other undisclosed noncurrent liabilities1,7662,5092,4433,2913,6311,897 
Total noncurrent liabilities:30,24335,83133,64133,34937,23631,28430,046
Total liabilities:49,49855,44652,47450,54053,19847,75145,432
Stockholders' equity
Stockholders' equity attributable to parent(10,106)(12,567)(11,577)(12,459)(12,086)(12,688)(13,244)
Treasury stock, value(35,836)(35,129)(35,220)(35,301)(35,382)(35,490)(35,613)
Additional paid in capital2,2252,1052,0191,9391,9721,9641,929
Accumulated other comprehensive loss(9,577)(11,181)(9,363)(10,111)(8,535)(9,559)(9,402)
Retained earnings33,08231,63830,98731,01429,85930,39729,842
Stockholders' equity attributable to noncontrolling interest1,8981,9361,9781,7201,8561,7881,768
Total stockholders' equity:(8,208)(10,631)(9,599)(10,739)(10,230)(10,900)(11,476)
TOTAL LIABILITIES AND EQUITY:41,29044,81542,87539,80142,96836,85133,956

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

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues31,40528,69429,80529,62578,09874,95373,908
Revenue, net78,09874,95373,908
Cost of revenue
(Cost of Goods and Services Sold)
(10,030)(9,569)(10,513)(10,758)(59,782)(57,659)(56,479)
Gross profit:21,37519,12519,29218,86718,31617,29417,429
Operating expenses    (164)(161)(68)
Other undisclosed operating loss(8,400)(7,457)(8,761)(7,490)(6,649)(6,318)(6,738)
Operating income:12,97511,66810,53111,37711,50310,81510,623
Nonoperating income (expense)(6)13137149182178124
Investment income, nonoperating109110226190182178124
Net periodic defined benefits expense (reversal of expense), excluding service cost component(115)(97)(89)(41)
Interest and debt expense(737)(728)(796)(855)(1,096)(1,069)(1,132)
Income from continuing operations before equity method investments, income taxes:12,23210,9539,87210,67110,5899,9249,615
Income from equity method investments    5994105
Income from continuing operations before income taxes:12,23210,9539,87210,67110,64810,0189,720
Income tax expense(2,671)(2,377)(2,293)(2,445)(4,307)(2,768)(2,688)
Income before gain (loss) on sale of properties:9,5618,5767,5798,2266,3417,2507,032
Other undisclosed net income1491614960   
Net income:9,7108,5927,7288,2866,3417,2507,032
Net loss attributable to noncontrolling interest(601)(536)(543)(375)(306)(283)(159)
Net income attributable to parent:9,1098,0567,1857,9116,0356,9676,873
Other undisclosed net loss available to common stockholders, basic(26)      
Net income available to common stockholders, diluted:9,0838,0567,1857,9116,0356,9676,873

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:9,7108,5927,7288,2866,3417,2507,032
Other comprehensive income (loss)1,525(1,780)791(1,647)1,024(207)(2,622)
Comprehensive income:11,2356,8128,5196,6397,3657,0434,410
Comprehensive loss, net of tax, attributable to noncontrolling interest(522)(574)(586)(304)(306)(233)(113)
Comprehensive income, net of tax, attributable to parent:10,7136,2387,9336,3357,0596,8104,297

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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