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)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments6,8616,5938,4474,2393,4171,6822,154
Cash and cash equivalents6,8616,5938,4474,2393,4171,6822,154
Receivables3,7173,5643,7383,4992,7784,0043,853
Inventory, net of allowances, customer advances and progress billings9,2358,8048,8069,0178,4738,5929,846
Inventory9,2358,8048,8069,0178,4738,5929,846
Other current assets701481603853648673497
Other undisclosed current assets    488533502
Total current assets:20,51419,44221,59417,60815,80415,48416,852
Noncurrent Assets
Operating lease, right-of-use asset766
Property, plant and equipment6,6317,2017,2716,0645,7216,0716,755
Long-term investments and receivables1,0539811,0741,0118901,0831,536
Long-term investments1,0539811,0741,0118901,0831,536
Intangible assets, net (including goodwill)7,9719,46710,0989,79410,03811,37312,086
Goodwill5,8587,1897,6667,3247,4158,3888,893
Intangible assets, net (excluding goodwill)2,1132,2782,4322,4702,6232,9853,193
Deferred income tax assets1,153
Other noncurrent assets1,9711,4451,9241,5151,5031,176939
Defined benefit plan, assets for plan benefits   151
Other undisclosed noncurrent assets2,8161,2651,007859  (151)
Total noncurrent assets:22,36120,35921,37419,24318,15219,70321,316
TOTAL ASSETS:42,87539,80142,96836,85133,95635,18738,168
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities14,44412,40712,95713,25111,95012,4289,907
Accounts payable2,2992,0682,2421,6661,2891,2421,274
Accrued liabilities2,6392,0982,0542,1282,0781,924 
Employee-related liabilities1,0427948568009031,135949
Taxes payable6,6335,6646,1367,0366,0916,5687,684
Interest and dividends payable1,8311,7831,6691,6211,5891,559 
Debt4,3894,7843,0053,2163,2302,5263,655
Deferred tax liabilities   206158112
Other undisclosed current liabilities      3,392
Total current liabilities:18,83317,19115,96216,46715,38615,11217,066
Noncurrent Liabilities
Long-term debt and lease obligation, including:26,65626,97531,33425,85125,25026,92924,023
Finance lease, liability56
Capital lease obligations332813131417
Operating lease, liability569
Other undisclosed long-term debt and lease obligation26,03126,94231,30625,83825,23726,91524,006
Liabilities, other than long-term debt4,5423,0832,2713,5364,7964,4202,522
Pension and other postretirement defined benefit plans, liabilities482
Accounts payable and accrued liabilities     71 
Deferred tax liabilities, net   1,5431,5491,477
Deferred income tax liabilities908
Liability, pension and other postretirement and postemployment benefits3,6343,0832,2712,8002,5662,202
Other liabilities   736687598563
Other undisclosed noncurrent liabilities2,4433,2913,6311,897 (71)831
Total noncurrent liabilities:33,64133,34937,23631,28430,04631,27827,376
Total liabilities:52,47450,54053,19847,75145,43246,39044,442
Stockholders' equity
Stockholders' equity attributable to parent(11,577)(12,459)(12,086)(12,688)(13,244)(12,629)(7,766)
Treasury stock, value(35,220)(35,301)(35,382)(35,490)(35,613)(35,762)(32,142)
Additional paid in capital2,0191,9391,9721,9641,929710723
Accumulated other comprehensive loss(9,363)(10,111)(8,535)(9,559)(9,402)(6,826)(4,190)
Retained earnings30,98731,01429,85930,39729,84229,24927,843
Stockholders' equity attributable to noncontrolling interest1,9781,7201,8561,7881,7681,4261,492
Total stockholders' equity:(9,599)(10,739)(10,230)(10,900)(11,476)(11,203)(6,274)
TOTAL LIABILITIES AND EQUITY:42,87539,80142,96836,85133,95635,18738,168

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

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues29,80529,62578,09874,95373,90880,10680,029
Revenue, net78,09874,95373,90880,10680,029
Cost of revenue
(Cost of Goods and Services Sold)
(10,513)(10,758)(59,782)(57,659)(56,479)(61,619)(60,055)
Other undisclosed gross profit     844833
Gross profit:19,29218,86718,31617,29417,42919,33120,807
Operating expenses  (164)(161)(68)(2,461)(2,409)
Other undisclosed operating loss(8,761)(7,490)(6,649)(6,318)(6,738)(5,168)(4,883)
Operating income:10,53111,37711,50310,81510,62311,70213,515
Nonoperating income (expense)137149182178124(56)8
Investment income, nonoperating226190182178124118131
Foreign currency transaction loss, before tax     (174)(123)
Net periodic defined benefits expense (reversal of expense), excluding service cost component(89)(41)
Interest and debt expense(796)(855)(1,096)(1,069)(1,132)(1,170)(1,104)
Other undisclosed income from continuing operations before equity method investments, income taxes     174123
Income from continuing operations before equity method investments, income taxes:9,87210,67110,5899,9249,61510,65012,542
Income (loss) from equity method investments  5994105105(22)
Income from continuing operations before income taxes:9,87210,67110,64810,0189,72010,75512,520
Income tax expense(2,293)(2,445)(4,307)(2,768)(2,688)(3,097)(3,670)
Income before gain (loss) on sale of properties:7,5798,2266,3417,2507,0327,6588,850
Other undisclosed net income14960     
Net income:7,7288,2866,3417,2507,0327,6588,850
Net loss attributable to noncontrolling interest(543)(375)(306)(283)(159)(165)(274)
Net income available to common stockholders, diluted:7,1857,9116,0356,9676,8737,4938,576

Comprehensive Income ($ in millions)

12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income:7,7288,2866,3417,2507,0327,6588,850
Other comprehensive income (loss)791(1,647)1,024(207)(2,622)(2,666)(564)
Other undisclosed comprehensive loss      (31)
Comprehensive income:8,5196,6397,3657,0434,4104,9928,255
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(586)(304)(306)(233)(113)(135)197
Other undisclosed comprehensive loss, net of tax, attributable to parent      (462)
Comprehensive income, net of tax, attributable to parent:7,9336,3357,0596,8104,2974,8577,990

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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