Stock Analysis on Net

Philip Morris International Inc. (NYSE:PM)

Analysis of Debt 

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Total Debt (Carrying Amount)

Philip Morris International Inc., balance sheet: debt

US$ in millions

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Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Short-term borrowings 225  244  338  730  499 
Current portion of long-term debt 2,798  3,124  4,051  4,054  2,506 
Long-term debt, excluding current portion 24,783  28,168  26,656  26,975  31,334 
Total debt, including finance lease obligations (carrying amount) 27,806  31,536  31,045  31,759  34,339 

Based on: 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), 10-K (reporting date: 2017-12-31).

Debt item Description The company
Total debt, including finance lease obligations (carrying amount) Sum of the carrying values as of the balance sheet date of all debt plus capital lease obligations. Philip Morris International Inc. total debt increased from 2019 to 2020 but then decreased significantly from 2020 to 2021.

Total Debt (Fair Value)

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Dec 31, 2021
Selected Financial Data (US$ in millions)
Short-term borrowings 225 
Long-term debt, including current portion, excluding finance leases 29,762 
Finance leases 71 
Total debt, including finance lease obligations (fair value) 30,058 
Financial Ratio
Debt, fair value to carrying amount ratio 1.08

Based on: 10-K (reporting date: 2021-12-31).


Weighted-average Interest Rate on Debt

Weighted-average interest rate on debt: 2.96%

Interest rate Debt amount1 Interest rate × Debt amount Weighted-average interest rate2
12.00% 225  27 
3.25% 19,397  629 
2.00% 7,687  153 
1.63% 273 
3.33% 224 
Total 27,806  822 
2.96%

Based on: 10-K (reporting date: 2021-12-31).

1 US$ in millions

2 Weighted-average interest rate = 100 × 822 ÷ 27,806 = 2.96%