10-K.Info (Beta Test)
Courtesy of Short Sands, LLC
10-K.Info (Beta Test)
Courtesy of Short Sands, LLC

PHILIP MORRIS INTERNATIONAL INC.

Ticker: PM   Fiscal Year: 2021

Consolidated Statements of Cash Flows

Period Ending Dec 31, 2021 10-K (Filed: Feb 11, 2022)

(In Millions, except shares in actual)
 12 Months Ended12 Months Ended12 Months Ended
 Dec 31, 2021Dec 31, 2020Dec 31, 2019
CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES
Net earnings
$
9,710
8,5927,728
Adjustments to reconcile net earnings to operating cash flows:
Depreciation and amortization998981964
Deferred income tax (benefit) provision(17)(143)(141)
Asset impairment and exit costs, net of cash paid (Note 19)(22)(14)371
Cash effects of changes, net of the effects from acquired companies:
Receivables, net(198)26(331)
Inventories549(165)(548)
Accounts payable653406451
Accrued liabilities and other current assets6231211,108
Income taxes(260)(260)75
Pension plan contributions(269)(102)(200)
Other200370 [1]613
Net cash provided by operating activities11,9679,81210,090
 
CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES
Capital expenditures(748)(602)(852)
Acquisitions, net of acquired cash (Note 6)(2,111)00
Equity investments(34)(47)(31)
Deconsolidation of RBH (Note 20)0 [2]0(1,346)
Net investment hedges466(551)386
Other694632
Net cash used in investing activities(2,358)(1,154)(1,811)
 
CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES
Short-term borrowing activity by original maturity:
Net issuances (repayments) - maturities of 90 days or less0(70)(364)
Issuances - maturities longer than 90 days045989
Repayments - maturities longer than 90 days0(45)(989)
Long-term debt proceeds03,7133,819
Long-term debt repaid(3,042)(3,999)(3,998)
Repurchases of common stock(775)00
Dividends paid(7,580)(7,364)(7,161)
Payments to noncontrolling interests and Other(580)(776)(357)
Net cash used in financing activities(11,977)(8,496)(8,061)
 
Effect of exchange rate changes on cash, cash equivalents and restricted cash(417)25827
Cash, cash equivalents and restricted cash:
Increase (Decrease)(2,785)420245
 
Balance at beginning of year7,2856,865
Balance at end of year4,5007,2856,865
 
Cash Paid:
Interest716728800
Income taxes2,9362,7852,430
[1] Includes the Loss on Deconsolidation of RBH ($239 million) and the Canadian tobacco litigation-related charge ($194 million) that were included in marketing, administration and research costs in the consolidated statements of earnings for the year ended December 31, 2019. For further details on these charges, see Note 20. Deconsolidation of RBH.
[2] Includes deconsolidation of RBH cash and cash equivalents of $1,323 million and restricted cash of $23 million.
External Links 
PHILIP MORRIS INTERNATIONAL INC. (PM) Fiscal Year 2021
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