← Philip Morris International Inc.

Annual Trend FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 TTM
Cash flows from operating activities:
Adjustments to reconcile net income to net cash provided by operating activities:
Net earnings $7.2b
$6.3b -12.54%
$8.3b +30.67%
$7.7b -6.73%
$8.6b +11.18%
$9.7b +13.01%
$9.5b -1.88%
$8.3b -13.22%
$7.5b -9.25%
$11.8b +57.91%
—
Net Income (Loss) Attributable to Parent $7.0b
$6.0b -13.38%
$7.9b +31.09%
$7.2b -9.18%
$8.1b +12.12%
$9.1b +13.07%
$9.0b -0.67%
$7.8b -13.65%
$7.1b -9.68%
$11.3b +60.80%
—
Net Income (Loss) Available to Common Stockholders, Basic — — — — — $9.1b
$9.0b -0.65%
$7.8b -13.66%
$7.0b -9.72%
$11.3b +60.88%
—
Net Income (Loss) Attributable to Noncontrolling Interest $283.0m $306.0m $375.0m $543.0m $536.0m $601.0m $479.0m $455.0m $446.0m $500.0m —
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest $7.2b $6.3b $8.3b $7.7b $8.6b $9.7b $9.5b $8.3b $7.5b $11.8b —
Amortization of Intangible Assets $74.0m $88.0m $82.0m $66.0m $73.0m $96.0m — $497.0m $835.0m $1.0b —
Depreciation $669.0m $787.0m $907.0m $898.0m $908.0m $902.0m — $901.0m $952.0m $993.0m $2.0b
Depreciation and amortization expense — — — — — $998.0m $1.1b $1.4b $1.8b $2.0b $2.0b
Depreciation, Depletion and Amortization $743.0m $875.0m $989.0m $964.0m $981.0m $998.0m — $1.4b $1.8b $2.0b $2.0b
Deferred Income Tax Expense (Benefit) $182.0m ($501.0m) ($100.0m) ($141.0m) ($143.0m) ($17.0m) ($234.0m) ($330.0m) ($123.0m) ($847.0m) ($583.0m)
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount — — — — — — — — $2.3b $0 —
Goodwill and Intangible Asset Impairment — — — — — — — $680.0m $27.0m $41.0m —
Goodwill, Impairment Loss — — — — — — — $665.0m $0 $41.0m $511.0m
Impairment of Intangible Assets (Excluding Goodwill) — — — — — — $112.0m — — — —
Impairment of Intangible Assets, Indefinite-lived (Excluding Goodwill) — — — — — — — — — $0 —
Impairment of goodwill and other intangibles (Note 4) — — — — — $0 $112.0m $680.0m $27.0m $41.0m —
Impairment related to the RBH equity investment (Note 5) — — — — — — $0 $0 $2.3b $0 —
Restructuring Costs and Asset Impairment Charges — — — $371.0m ($14.0m) ($22.0m) ($93.0m) $30.0m $122.0m $206.0m —
Equity investments — — ($63.0m) ($31.0m) ($47.0m) ($34.0m) ($20.0m) ($111.0m) ($124.0m) ($63.0m) —
Income (Loss) from Equity Method Investments $94.0m $59.0m — — — — — $157.0m $637.0m $705.0m —
Changes in operating assets and liabilities:
Receivables, net ($1.0b) ($92.0m) $53.0m ($331.0m) $26.0m ($198.0m) ($871.0m) $314.0m ($738.0m) ($448.0m) —
Increase (Decrease) in Inventories $695.0m ($730.0m) $613.0m $548.0m $165.0m ($549.0m) $1.3b $862.0m ($552.0m) $1.2b ($862.0m)
Inventories ($695.0m) $730.0m ($613.0m) ($548.0m) ($165.0m) $549.0m ($1.3b) ($862.0m) $552.0m ($1.2b) ($862.0m)
Accounts payable $373.0m $425.0m ($51.0m) $451.0m $406.0m $653.0m $719.0m ($288.0m) $297.0m $258.0m $135.0m
Accrued liabilities and other current assets $1.5b ($554.0m) $910.0m $1.1b $121.0m $623.0m $1.9b ($232.0m) $628.0m ($151.0m) $740.0m
Other $245.0m $172.0m $85.0m $32.0m $46.0m $69.0m $112.0m $269.0m ($54.0m) ($5.0m) —
Net Cash Provided by (Used in) Operating Activities $8.1b
$8.9b +10.34%
$9.5b +6.35%
$10.1b +6.46%
$9.8b -2.76%
$12.0b +21.96%
$10.8b -9.73%
$9.2b -14.80%
$12.2b +32.74%
$12.2b +0.13%
$14.3b +16.60%
Cash flows from investing activities:
Payments to Acquire Property, Plant, and Equipment $1.2b $1.5b $1.4b $852.0m $602.0m $748.0m $1.1b $1.3b $1.4b $1.6b ($1.5b)
Purchases of debt securities — — — — — — — $0 ($132.0m) ($202.0m) —
Sales and maturities of debt securities — — — — — — — $0 $0 $116.0m —
Other acquisitions, net of acquired cash (Note 3) — — — — — — $0 $0 $43.0m $0 —
Payments to Acquire Businesses, Net of Cash Acquired $0 — — — — — $14.0b — — — $0
Payments for (Proceeds from) Other Investing Activities ($245.0m) ($172.0m) ($85.0m) ($32.0m) ($46.0m) ($69.0m) ($112.0m) ($269.0m) $54.0m $5.0m —
Net Cash Provided by (Used in) Investing Activities ($968.0m) ($3.0b) ($998.0m) ($1.8b) ($1.2b) ($2.4b) ($15.7b) ($3.6b) ($1.1b) ($4.0b) ($1.2b)
Cash flows from financing activities:
Long-term debt proceeds $3.5b $6.8b $0 $3.8b $3.7b $0 $6.0b $10.0b $8.1b $7.1b —
Long-term debt repaid ($2.4b) ($2.6b) ($2.5b) ($4.0b) ($4.0b) ($3.0b) ($2.7b) ($2.6b) ($4.8b) ($5.4b) —
Proceeds from Issuance of Long-term Debt $3.5b $6.8b $0 $3.8b $3.7b $0 $6.0b $10.0b $8.1b $7.1b $6.4b
Repayments of Long-term Debt $2.4b $2.6b $2.5b $4.0b $4.0b $3.0b — — $4.8b $5.4b ($8.7b)
Payments for Repurchase of Common Stock $0 $0 — — — $775.0m $209.0m $0 $0 — —
Dividends Payable, Current $1.6b $1.7b $1.8b $1.8b $1.9b $2.0b $2.0b $2.0b $2.1b $2.3b —
Dividends paid $6.4b $6.5b $6.9b $7.2b $7.4b $7.6b $7.8b $8.0b $8.2b $8.6b ($9.0b)
Payments of Dividends $6.4b $6.5b $6.9b $7.2b $7.4b $7.6b $7.8b $8.0b $8.2b $8.6b ($9.0b)
Proceeds from (Payments for) Other Financing Activities ($173.0m) ($426.0m) ($456.0m) ($408.0m) ($776.0m) ($580.0m) ($854.0m) ($437.0m) ($489.0m) ($521.0m) —
Net Cash Provided by (Used in) Financing Activities ($5.4b)
($2.8b) +48.85%
($9.7b) -248.54%
($8.1b) +16.47%
($8.5b) -5.40%
($12.0b) -40.97%
$3.8b +131.78%
($5.6b) -246.66%
($9.5b) -69.85%
($8.1b) +14.23%
($11.1b) -36.76%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect ($965.0m) $1.1b ($1.9b) $245.0m $420.0m ($2.8b) ($1.3b) ($71.0m) $1.1b $638.0m $6.1b
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents ($965.0m) $1.1b $6.6b $6.9b $7.3b $4.5b $3.2b $3.1b $4.3b $4.9b $6.1b
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents ($965.0m) $1.1b ($685.0m) $27.0m $258.0m ($417.0m) ($213.0m) ($95.0m) ($536.0m) $504.0m ($101.0m)
Effect of exchange rate changes on cash, cash equivalents and restricted cash ($965.0m) $1.1b ($685.0m) $27.0m $258.0m ($417.0m) ($213.0m) ($95.0m) ($536.0m) $504.0m ($101.0m)
Additional Supplementary Disclosures
Additional Supplementary Disclosures
Additional Financial Items
Altria Group, Inc. agreement (Note 3) — — — — $0 $0 ($1.0b) ($1.8b) $0 $0 —
Balance at beginning of year $3.4b $4.2b $6.6b $6.9b $7.3b $4.5b $3.2b $3.1b $4.3b $4.9b —
Collateral posted/settlements for derivatives, (paid)/returned (Note 14) — — — — — — $284.0m ($660.0m) $351.0m ($2.3b) —
Collateral received/settlements for derivatives, received/(returned) — — — — — — $27.0m ($62.0m) $828.0m ($693.0m) —
Equity Securities, FV-NI, Unrealized Gain (Loss) — — — $44.0m ($76.0m) $19.0m $43.0m $49.0m $546.0m $370.0m —
Foreign Currency Transaction Gain (Loss), before Tax ($272.0m) ($49.0m) ($21.0m) $95.0m ($90.0m) ($45.0m) ($199.0m) ($305.0m) ($302.0m) ($178.0m) —
General and Administrative Expense $161.0m $164.0m — — — — — — — — —
Goodwill $7.3b $7.7b $7.2b $5.9b $6.0b $6.7b $19.7b $16.8b $16.6b $17.3b $511.0m
Income Tax Expense (Benefit) $2.8b $4.3b $2.4b $2.3b $2.4b $2.7b $2.2b $2.3b $3.0b $2.7b —
Income Taxes Paid, Net $2.8b $3.4b $2.7b $2.4b $2.8b $2.9b $2.8b $3.0b $3.2b $3.9b —
Increase (Decrease) $822.0m $4.2b ($1.9b) $245.0m $420.0m ($2.8b) ($1.3b) ($71.0m) $1.1b $638.0m ($358.0m)
Interest $1.1b $1.1b $882.0m $800.0m $728.0m $716.0m $717.0m $1.3b $1.6b $1.7b $1.7b
Interest Expense Nonoperating — — — — — — — — $1.8b $1.6b —
Investment Income, Interest $178.0m $182.0m $190.0m $226.0m $110.0m $109.0m $180.0m $465.0m $620.0m $621.0m —
Issuances - maturities longer than 90 days $0 $1.6b $0 $989.0m $45.0m $0 $934.0m $1.4b $100.0m $170.0m —
Losses on sales of businesses (including held-for-sale) (Note 3) — — — — — — $0 $0 $206.0m $94.0m —
Net issuances (repayments) - maturities of 90 days or less ($12.0m) ($127.0m) $255.0m ($364.0m) ($70.0m) $0 $876.0m $530.0m ($1.5b) $19.0m —
Noncontrolling interests activity and Other ($173.0m) ($426.0m) ($456.0m) ($408.0m) ($776.0m) ($580.0m) ($854.0m) ($437.0m) ($489.0m) ($521.0m) —
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Net of Tax ($30.0m) $11.0m — — — — — — — — —
Payments to acquire Swedish Match AB noncontrolling interests — — — — $0 $0 ($1.5b) ($883.0m) $0 $0 —
Pension plan contributions (Note 12) ($191.0m) ($66.0m) ($110.0m) ($200.0m) ($102.0m) ($269.0m) $3.0m ($21.0m) ($110.0m) ($139.0m) —
Proceeds from (Payments to) Noncontrolling Interests $7.0m $5.0m — — $0 $0 — — $0 $0 —
Proceeds from Noncontrolling Interests — — — $51.0m — — — — — — —
Proceeds from sales of businesses, net of cash disposed (Note 3) — — — — — — $0 $191.0m $136.0m $30.0m —
Repayments - maturities longer than 90 days $0 ($1.6b) $0 ($989.0m) ($45.0m) $0 ($795.0m) ($1.2b) ($433.0m) ($170.0m) —
Repayments under credit facilities related to Swedish Match AB acquisition — — — — $0 $0 ($4.0b) ($4.4b) ($3.2b) $0 —
Restructuring charges, net of cash paid (Note 18) — ($10.0m) ($3.0m) $371.0m ($14.0m) ($22.0m) ($93.0m) $30.0m $122.0m $206.0m —
Revenue from Contract with Customer, Including Assessed Tax — — $79.8b $77.9b $76.0b $82.2b $80.7b — — — —
Supplemental disclosure of cash flow information:

Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.