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
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments7,2806,8616,5938,4474,2393,4171,682
Cash and cash equivalents7,2806,8616,5938,4474,2393,4171,682
Receivables3,7613,7173,5643,7383,4992,7784,004
Inventory, net of allowances, customer advances and progress billings9,5919,2358,8048,8069,0178,4738,592
Inventory9,5919,2358,8048,8069,0178,4738,592
Other current assets860701481603853648673
Other undisclosed current assets     488533
Total current assets:21,49220,51419,44221,59417,60815,80415,484
Noncurrent Assets
Operating lease, right-of-use asset 766
Property, plant and equipment6,3656,6317,2017,2716,0645,7216,071
Long-term investments and receivables4,7981,0539811,0741,0118901,083
Long-term investments4,7981,0539811,0741,0118901,083
Intangible assets, net (including goodwill)7,9837,9719,46710,0989,79410,03811,373
Goodwill5,9645,8587,1897,6667,3247,4158,388
Intangible assets, net (excluding goodwill)2,0192,1132,2782,4322,4702,6232,985
Deferred income tax assets1,4101,153
Other noncurrent assets2,7671,9711,4451,9241,5151,5031,176
Other undisclosed noncurrent assets 2,8161,2651,007859  
Total noncurrent assets:23,32322,36120,35921,37419,24318,15219,703
TOTAL ASSETS:44,81542,87539,80142,96836,85133,95635,187
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities16,24714,44412,40712,95713,25111,95012,428
Accounts payable2,7802,2992,0682,2421,6661,2891,242
Accrued liabilities2,9042,6392,0982,0542,1282,0781,924
Employee-related liabilities1,1891,0427948568009031,135
Taxes payable7,4946,6335,6646,1367,0366,0916,568
Interest and dividends payable1,8801,8311,7831,6691,6211,5891,559
Debt3,3684,3894,7843,0053,2163,2302,526
Deferred tax liabilities   206158
Total current liabilities:19,61518,83317,19115,96216,46715,38615,112
Noncurrent Liabilities
Long-term debt and lease obligation, including:28,16826,65626,97531,33425,85125,25026,929
Finance lease, liability3756
Capital lease obligations3328131314
Operating lease, liability517569
Other undisclosed long-term debt and lease obligation27,61426,03126,94231,30625,83825,23726,915
Liabilities, other than long-term debt5,1544,5423,0832,2713,5364,7964,420
Accounts payable and accrued liabilities      71
Deferred tax liabilities, net   1,5431,549
Deferred income tax liabilities684908
Liability, pension and other postretirement and postemployment benefits4,4703,6343,0832,2712,8002,5662,202
Other liabilities    736687598
Other undisclosed noncurrent liabilities2,5092,4433,2913,6311,897 (71)
Total noncurrent liabilities:35,83133,64133,34937,23631,28430,04631,278
Total liabilities:55,44652,47450,54053,19847,75145,43246,390
Stockholders' equity
Stockholders' equity attributable to parent(12,567)(11,577)(12,459)(12,086)(12,688)(13,244)(12,629)
Treasury stock, value(35,129)(35,220)(35,301)(35,382)(35,490)(35,613)(35,762)
Additional paid in capital2,1052,0191,9391,9721,9641,929710
Accumulated other comprehensive loss(11,181)(9,363)(10,111)(8,535)(9,559)(9,402)(6,826)
Retained earnings31,63830,98731,01429,85930,39729,84229,249
Stockholders' equity attributable to noncontrolling interest1,9361,9781,7201,8561,7881,7681,426
Total stockholders' equity:(10,631)(9,599)(10,739)(10,230)(10,900)(11,476)(11,203)
TOTAL LIABILITIES AND EQUITY:44,81542,87539,80142,96836,85133,95635,187

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues28,69429,80529,62578,09874,95373,90880,106
Revenue, net78,09874,95373,90880,106
Cost of revenue
(Cost of Goods and Services Sold)
(9,569)(10,513)(10,758)(59,782)(57,659)(56,479)(61,619)
Other undisclosed gross profit      844
Gross profit:19,12519,29218,86718,31617,29417,42919,331
Operating expenses   (164)(161)(68)(2,461)
Other undisclosed operating loss(7,457)(8,761)(7,490)(6,649)(6,318)(6,738)(5,168)
Operating income:11,66810,53111,37711,50310,81510,62311,702
Nonoperating income (expense)13137149182178124(56)
Investment income, nonoperating110226190182178124118
Foreign currency transaction loss, before tax      (174)
Net periodic defined benefits expense (reversal of expense), excluding service cost component(97)(89)(41)
Interest and debt expense(728)(796)(855)(1,096)(1,069)(1,132)(1,170)
Other undisclosed income from continuing operations before equity method investments, income taxes      174
Income from continuing operations before equity method investments, income taxes:10,9539,87210,67110,5899,9249,61510,650
Income from equity method investments   5994105105
Income from continuing operations before income taxes:10,9539,87210,67110,64810,0189,72010,755
Income tax expense(2,377)(2,293)(2,445)(4,307)(2,768)(2,688)(3,097)
Income before gain (loss) on sale of properties:8,5767,5798,2266,3417,2507,0327,658
Other undisclosed net income1614960    
Net income:8,5927,7288,2866,3417,2507,0327,658
Net loss attributable to noncontrolling interest(536)(543)(375)(306)(283)(159)(165)
Net income available to common stockholders, diluted:8,0567,1857,9116,0356,9676,8737,493

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income:8,5927,7288,2866,3417,2507,0327,658
Other comprehensive income (loss)(1,780)791(1,647)1,024(207)(2,622)(2,666)
Comprehensive income:6,8128,5196,6397,3657,0434,4104,992
Comprehensive loss, net of tax, attributable to noncontrolling interest(574)(586)(304)(306)(233)(113)(135)
Comprehensive income, net of tax, attributable to parent:6,2387,9336,3357,0596,8104,2974,857

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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