Stock Analysis on Net
Stock Analysis on Net
Microsoft Excel LibreOffice Calc

Philip Morris International Inc. (NYSE:PM)

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Adjustments to Financial Statements

Advanced level


Adjustments to Current Assets

Philip Morris International Inc., adjusted current assets

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
As Reported
Current assets
Adjustments
Add: Allowances
Less: Current deferred tax assets1
After Adjustment
Adjusted current assets

Based on: 10-K (filing date: 2020-02-07), 10-K (filing date: 2019-02-07), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-14), 10-K (filing date: 2016-02-17).

1 Current deferred tax assets. See details »


Adjustments to Total Assets

Philip Morris International Inc., adjusted total assets

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
As Reported
Total assets
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1
Add: Allowances
Less: Current deferred tax assets2
Less: Noncurrent deferred tax assets3
After Adjustment
Adjusted total assets

Based on: 10-K (filing date: 2020-02-07), 10-K (filing date: 2019-02-07), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-14), 10-K (filing date: 2016-02-17).

1 Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

2 Current deferred tax assets. See details »

3 Noncurrent deferred tax assets. See details »


Adjustments to Current Liabilities

Philip Morris International Inc., adjusted current liabilities

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
As Reported
Current liabilities
Adjustments
Less: Current deferred tax liabilities1
Less: Accrued product warranty
After Adjustment
Adjusted current liabilities

Based on: 10-K (filing date: 2020-02-07), 10-K (filing date: 2019-02-07), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-14), 10-K (filing date: 2016-02-17).

1 Current deferred tax liabilities. See details »


Adjustments to Total Liabilities

Philip Morris International Inc., adjusted total liabilities

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
As Reported
Total liabilities
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)1
Less: Current deferred tax liabilities2
Less: Noncurrent deferred tax liabilities3
Less: Accrued product warranty
Less: Exit cost liabilities
After Adjustment
Adjusted total liabilities

Based on: 10-K (filing date: 2020-02-07), 10-K (filing date: 2019-02-07), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-14), 10-K (filing date: 2016-02-17).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Current deferred tax liabilities. See details »

3 Noncurrent deferred tax liabilities. See details »


Adjustments to Stockholders’ Equity

Philip Morris International Inc., adjusted total PMI stockholders’ deficit

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
As Reported
Total PMI stockholders’ deficit
Adjustments
Less: Net deferred income tax assets (liabilities)1
Add: Allowances
Add: Accrued product warranty
Add: Exit cost liabilities
Add: Noncontrolling interests
After Adjustment
Adjusted total stockholders’ deficit

Based on: 10-K (filing date: 2020-02-07), 10-K (filing date: 2019-02-07), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-14), 10-K (filing date: 2016-02-17).

1 Net deferred income tax assets (liabilities). See details »


Adjustments to Capitalization Table

Philip Morris International Inc., adjusted capitalization table

US$ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
As Reported
Short-term borrowings
Current portion of long-term debt
Long-term debt, excluding current portion
Total reported debt
Total PMI stockholders’ deficit
Total reported capital
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)1
Add: Current operating lease liability (included in Accrued liabilities, Other)2
Add: Noncurrent operating lease liability (included in Income taxes and other liabilities)3
Adjusted total debt
Adjustments to Equity
Less: Net deferred income tax assets (liabilities)4
Add: Allowances
Add: Accrued product warranty
Add: Exit cost liabilities
Add: Noncontrolling interests
Adjusted total stockholders’ deficit
After Adjustment
Adjusted total capital

Based on: 10-K (filing date: 2020-02-07), 10-K (filing date: 2019-02-07), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-14), 10-K (filing date: 2016-02-17).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Current operating lease liability (included in Accrued liabilities, Other). See details »

3 Noncurrent operating lease liability (included in Income taxes and other liabilities). See details »

4 Net deferred income tax assets (liabilities). See details »


Adjustments to Reported Income

Philip Morris International Inc., adjusted net earnings attributable to PMI

US$ in millions

Microsoft Excel LibreOffice Calc
12 months ended: Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
As Reported
Net earnings attributable to PMI
Adjustments
Add: Deferred income tax expense (benefit)1
Add: Increase (decrease) in allowances
Add: Increase (decrease) in accrued product warranty
Add: Increase (decrease) in exit cost liabilities
Add: Other comprehensive earnings (losses), net of income taxes
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest
After Adjustment
Adjusted net earnings

Based on: 10-K (filing date: 2020-02-07), 10-K (filing date: 2019-02-07), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-14), 10-K (filing date: 2016-02-17).

1 Deferred income tax expense (benefit). See details »