10-K.Info (Beta Test)
Courtesy of Short Sands, LLC
Income Statement Comp. Income Cash Flow Balance Sheet All Statements
2009 2010 2011 2012 2013 2014 2015
2016 2017 2018 2019 2020 2021 2022
10-K.Info (Beta Test)
Courtesy of Short Sands, LLC

PHILIP MORRIS INTERNATIONAL INC.

Ticker: PM   Fiscal Year: 2014

Consolidated Statements of Earnings

Period Ending Dec 31, 2014 10-K (Filed: Feb 20, 2015)

(In Millions, except shares in actual)
 12 Months Ended12 Months Ended12 Months Ended
 Dec 31, 2014Dec 31, 2013Dec 31, 2012
Net revenues
$
80,106 [1]
80,02977,393
Cost of sales10,43610,41010,373
Excise taxes on products50,33948,81246,016
Gross profit19,33120,80721,004
 
Marketing, administration and research costs7,0016,8906,961
Asset impairment and exit costs (Note 5)53530983
Amortization of intangibles939397
Operating income11,70213,51513,863
 
Interest expense, net (Note 14)1,052973859
Earnings before income taxes10,65012,54213,004
 
Provision for income taxes3,0973,6703,833
Equity (income)/loss in unconsolidated subsidiaries, net(105)2217
Net earnings7,6588,8509,154
 
Net earnings attributable to noncontrolling interests165274354
Net earnings attributable to PMI7,4938,5768,800
 
Per share data (Note 10):
Basic earnings per share (in dollars per share)4.765.265.17
Diluted earnings per share (in dollars per share)4.765.265.17
[1] Total net revenues attributable to customers located in Germany, PMIs largest market in terms of net revenues, were $8.3 billion, $7.8 billion and $7.7 billion for the years ended December 31, 2014, 2013 and 2012, respectively.
10-K.Info (Beta Test)
Courtesy of Short Sands, LLC

PHILIP MORRIS INTERNATIONAL INC.

Ticker: PM   Fiscal Year: 2014

Consolidated Statements of Comprehensive Earnings

Period Ending Dec 31, 2014 10-K (Filed: Feb 20, 2015)

(In Millions, except shares in actual)
 12 Months Ended12 Months Ended12 Months Ended
 Dec 31, 2014Dec 31, 2013Dec 31, 2012
Net earnings
$
7,658
8,8509,154
Other comprehensive earnings (losses), net of income taxes:
Change in currency translation adjustments:
Unrealized gains (losses), net of income taxes of ($161) in 2014, $227 in 2013 and $6 in 2012(1,746)(1,876)15
(Gains)/losses transferred to earnings, net of income taxes of $- in 2014 and $- in 2013(5)(12)0
Change in net loss and prior service cost:
Net gains (losses) and prior service costs, net of income taxes of $167 in 2014, ($81) in 2013 and $144 in 2012(1,148)1,079(943)
Amortization of net losses, prior service costs and net transition costs, net of income taxes of ($42) in 2014, ($49) in 2013 and ($37) in 2012173243160
Change in fair value of derivatives accounted for as hedges:
Gains recognized, net of income taxes of ($13) in 2014, ($30) in 2013 and ($14) in 20129820699
Gains transferred to earnings, net of income taxes of $10 in 2014, $34 in 2013 and $3 in 2012(38)(235)(22)
Total other comprehensive losses(2,666)(595)(691)
Total comprehensive earnings4,9928,2558,463
 
Less comprehensive earnings attributable to:
Noncontrolling interests135197210
Redeemable noncontrolling interest (Note 23)068194
Comprehensive earnings attributable to PMI4,8577,9908,059
 
10-K.Info (Beta Test)
Courtesy of Short Sands, LLC

PHILIP MORRIS INTERNATIONAL INC.

Ticker: PM   Fiscal Year: 2014

Consolidated Statements of Cash Flows

Period Ending Dec 31, 2014 10-K (Filed: Feb 20, 2015)

(In Millions, except shares in actual)
 12 Months Ended12 Months Ended12 Months Ended
 Dec 31, 2014Dec 31, 2013Dec 31, 2012
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES
Net earnings
$
7,658
8,8509,154
Adjustments to reconcile net earnings to operating cash flows:
Depreciation and amortization889882898
Deferred income tax benefit(62)(28)(248)
Asset impairment and exit costs, net of cash paid17528826
Cash effects of changes, net of the effects from acquired companies:
Receivables, net(463)(449)(398)
Inventories105(1,413)(728)
Accounts payable17710310
Income taxes(230)(331)638
Accrued liabilities and other current assets(507)1,880(183)
Pension plan contributions(191)(150)(207)
Other188503459
Net cash provided by operating activities7,73910,1359,421
 
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES
Capital expenditures(1,153)(1,200)(1,056)
Investments in unconsolidated subsidiaries(29)(1,418)(6)
Purchase of businesses, net of acquired cash(110)00
Other296(62)70
Net cash used in investing activities(996)(2,680)(992)
 
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES
Short-term borrowing activity by original maturity:
Net issuances (repayments) - maturities of 90 days or less(516)(1,099)1,515
Issuances - maturities longer than 90 days1,0072,000603
Repayments - maturities longer than 90 days(1,571)(849)(1,220)
Long-term debt proceeds5,5917,1815,516
Long-term debt repaid(1,240)(2,738)(2,237)
Repurchases of common stock(3,833)(5,963)(6,525)
Dividends paid(6,035)(5,720)(5,404)
Purchase of subsidiary shares from noncontrolling interests0(703)(2)
Other(242)(324)(346)
Net cash used in financing activities(6,839)(8,215)(8,100)
 
Effect of exchange rate changes on cash and cash equivalents(376)(69)104
Cash and cash equivalents:
(Decrease) Increase(472)(829)433
 
Balance at beginning of year2,1542,983
Balance at end of year1,6822,1542,983
 
Cash Paid:
Interest1,068978986
Income taxes3,5773,9993,420
10-K.Info (Beta Test)
Courtesy of Short Sands, LLC

PHILIP MORRIS INTERNATIONAL INC.

Ticker: PM   Fiscal Year: 2014

Consolidated Balance Sheets

Period Ending Dec 31, 2014 10-K (Filed: Feb 20, 2015)

(In Millions, except shares in actual)
 As ofAs of
 Dec 31, 2014Dec 31, 2013
Assets
Cash and cash equivalents
$
1,682
2,154
Receivables (less allowances of $50 in 2014 and $53 in 2013)4,0043,853
Inventories:
Leaf tobacco3,1353,709
Other raw materials1,6961,596
Finished product3,7614,541
Total inventory, net8,5929,846
 
Deferred income taxes533502
Other current assets673497
Total current assets15,48416,852
 
Property, plant and equipment, at cost:
Land and land improvements639671
Buildings and building equipment3,6204,013
Machinery and equipment7,6648,409
Construction in progress836864
Total property, plant and equipment, at cost12,75913,957
 
Less: accumulated depreciation6,6887,202
Total property, plant and equipment, net6,0716,755
 
Goodwill (Note 3)8,3888,893
Other intangible assets, net (Note 3)2,9853,193
Investments in unconsolidated subsidiaries (Note 4)1,0831,536
Other assets1,176939
Total Assets35,18738,168
 
Liabilities
Short-term borrowings (Note 7)1,2082,400
Current portion of long-term debt (Note 7)1,3181,255
Accounts payable1,2421,274
Accrued liabilities:
Marketing and selling549503
Taxes, except income taxes5,4906,492
Employment costs1,135949
Dividends payable1,5591,507
Other1,3751,382
Income taxes1,0781,192
Deferred income taxes158112
Total current liabilities15,11217,066
 
Long-term debt (Note 7)26,92924,023
Deferred income taxes1,5491,477
Employment costs2,2021,313
Other liabilities598563
Total liabilities46,39044,442
 
Contingencies (Note 21)  
Stockholders (Deficit) Equity
Common stock, no par value (2,109,316,331 shares issued in 2014 and 2013)00
Additional paid-in capital710723
Earnings reinvested in the business29,24927,843
Accumulated other comprehensive losses(6,826)(4,190)
Total stockholders' equity before treasury stock23,13324,376
 
Less: cost of repurchased stock (562,416,635 and 520,313,919 shares in 2014 and 2013, respectively)35,76232,142
Total PMI stockholders deficit(12,629)(7,766)
 
Noncontrolling interests1,4261,492
Total stockholders deficit(11,203)(6,274)
 
Total Liabilities and Stockholders (Deficit) Equity35,18738,168
 
External Links 
PHILIP MORRIS INTERNATIONAL INC. (PM) Fiscal Year 2014
Statements of 10-K in Excel https://www.sec.gov/.../Financial.xlxs
Complete 10-K in HTML https://www.sec.gov/.../10-K.html
Complete 10-K in XBRL https://www.sec.gov/.../10-K-xbrl.zip