10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
PHILIP MORRIS INTERNATIONAL INC. | |||
Ticker: PM Fiscal Year: 2018 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2018 10-K (Filed: Feb 7, 2019) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | |
| CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | |||
| Net earnings | $ 8,286 | 6,341 | 7,250 |
| Adjustments to reconcile net earnings to operating cash flows: | |||
| Depreciation and amortization | 989 | 875 | 743 |
| Deferred income tax (benefit) provision | (100) | (501) | 182 |
| Cash effects of changes in: | |||
| Receivables, net | 53 | (92) | (1,009) |
| Inventories | (613) | 730 | (695) |
| Accounts payable | (51) | 425 | 373 |
| Accrued liabilities and other current assets | 910 | (554) | 1,477 |
| Income taxes | (135) | 1,370 | (209) |
| Pension plan contributions | (110) | (66) | (191) |
| Other | 249 | 384 | 156 |
| Net cash provided by operating activities | 9,478 | 8,912 | 8,077 |
| CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES | |||
| Capital expenditures | (1,436) | (1,548) | (1,172) |
| Investments in unconsolidated subsidiaries and equity securities | (63) | (111) | (41) |
| Net investment hedges | (1,527) | ||
| Net investment hedges | 416 | 295 | |
| Other | 85 | 103 | 84 |
| Net cash used in investing activities | (998) | (3,083) | (834) |
| CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES | |||
| Short-term borrowing activity by original maturity: | |||
| Net issuances (repayments) - maturities of 90 days or less | 255 | (127) | (12) |
| Issuances - maturities longer than 90 days | 0 | 1,634 | 0 |
| Repayments - maturities longer than 90 days | 0 | (1,634) | 0 |
| Long-term debt proceeds | 0 | 6,850 | 3,536 |
| Long-term debt repaid | (2,484) | (2,551) | (2,393) |
| Dividends paid | (6,885) | (6,520) | (6,378) |
| Sale (purchase) of subsidiary shares to/(from) noncontrolling interests (Note 6) | (81) | ||
| Sale (purchase) of subsidiary shares to/(from) noncontrolling interests (Note 6) | 5 | 7 | |
| Other | (456) | (426) | (173) |
| Net cash used in financing activities | (9,651) | (2,769) | (5,413) |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (685) | 1,085 | (965) |
| Cash, cash equivalents and restricted cash: | |||
| Increase (Decrease) | (1,856) | 4,145 | 865 |
| Balance at beginning of year | 8,476 | 4,331 | |
| Balance at end of year | 6,620 [1] | 8,476 | 4,331 |
| Cash Paid: | |||
| Interest | 882 | 1,050 | 1,052 |
| Income taxes | 2,749 | 3,403 | 2,829 |
| [1] Following the adoption of Financial Accounting Standards Update ASU 2016-18, "Statement of Cash Flows: Restricted Cash," the amounts for cash and cash equivalents shown above include restricted cash of $27 million, $29 million and $92 million as of December 31, 2018, 2017 and 2016, respectively, which were included in other current assets in the consolidated balance sheets. | |||
| External Links | |
| PHILIP MORRIS INTERNATIONAL INC. (PM) Fiscal Year 2018 | |
| 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 |