Stock Analysis on Net

Philip Morris International Inc. (NYSE:PM)

This company has been moved to the archive! The financial data has not been updated since July 27, 2023.

Analysis of Property, Plant and Equipment

Microsoft Excel

Property, Plant and Equipment Disclosure

Philip Morris International Inc., balance sheet: property, plant and equipment

US$ in millions

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Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Land and land improvements 545 565 590 566 600
Buildings and building equipment 4,291 4,293 4,410 4,132 3,975
Machinery and equipment 9,549 9,275 9,460 9,354 9,096
Construction in progress 1,058 599 449 394 886
Property, plant and equipment, at cost 15,443 14,732 14,909 14,446 14,557
Accumulated depreciation (8,733) (8,564) (8,544) (7,815) (7,356)
Property, plant and equipment, less accumulated depreciation 6,710 6,168 6,365 6,631 7,201

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

Item Description The company
Property, plant and equipment, at cost Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Philip Morris International Inc. property, plant and equipment, at cost decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level.
Property, plant and equipment, less accumulated depreciation Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Philip Morris International Inc. property, plant and equipment, less accumulated depreciation decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level.

Asset Age Ratios (Summary)

Philip Morris International Inc., asset age ratios

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Average age ratio 58.62% 60.45% 59.67% 56.30% 52.70%

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

Asset age ratio Description The company
Average age ratio As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient. Philip Morris International Inc. average age ratio of depreciable property, plant and equipment deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level.

Average Age

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Accumulated depreciation 8,733 8,564 8,544 7,815 7,356
Property, plant and equipment, at cost 15,443 14,732 14,909 14,446 14,557
Land and land improvements 545 565 590 566 600
Asset Age Ratio
Average age1 58.62% 60.45% 59.67% 56.30% 52.70%

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

2022 Calculations

1 Average age = 100 × Accumulated depreciation ÷ (Property, plant and equipment, at cost – Land and land improvements)
= 100 × 8,733 ÷ (15,443545) = 58.62%

Asset age ratio Description The company
Average age As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient. Philip Morris International Inc. average age ratio of depreciable property, plant and equipment deteriorated from 2020 to 2021 but then improved from 2021 to 2022 exceeding 2020 level.