Adjustments to Current Assets
Adjustments to Total Assets
Adjustments to Current Liabilities
Adjustments to Total Liabilities
Adjustments to Stockholders’ Equity
Adjustments to Capitalization Table
Adjustments to Reported Income

Philip Morris International Inc., adjusted current assets

US$ in millions

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Current assets	19,619)	17,717)	21,492)	20,514)	19,442)
Adjustments
Add: Allowances	42)	70)	23)	20)	25)
After Adjustment
Adjusted current assets	19,661)	17,787)	21,515)	20,534)	19,467)

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).

Download chart

Philip Morris International Inc., adjusted total assets

US$ in millions

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Total assets	61,681)	41,290)	44,815)	42,875)	39,801)
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	657)
Add: Allowances	42)	70)	23)	20)	25)
Less: Deferred income tax assets²	603)	895)	1,410)	1,153)	977)
After Adjustment
Adjusted total assets	61,120)	40,465)	43,428)	41,742)	39,506)

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).

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

² Deferred income tax assets. See details »

Download chart

Philip Morris International Inc., adjusted current liabilities

US$ in millions

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Current liabilities	27,336)	19,255)	19,615)	18,833)	17,191)
Adjustments
Less: Current accrued product warranty	104)	113)	137)	140)	67)
After Adjustment
Adjusted current liabilities	27,232)	19,142)	19,478)	18,693)	17,124)

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).

Download chart

Philip Morris International Inc., adjusted total liabilities

US$ in millions

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Total liabilities	67,992)	49,498)	55,446)	52,474)	50,540)
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	657)
Less: Deferred income tax liabilities²	1,956)	726)	684)	908)	898)
Less: Accrued product warranty	104)	113)	137)	140)	67)
Less: Exit cost liabilities	40)	142)	180)	191)	—)
After Adjustment
Adjusted total liabilities	65,892)	48,517)	54,445)	51,235)	50,232)

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).

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

² Deferred income tax liabilities. See details »

Download chart

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

US$ in millions

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Total PMI stockholders’ deficit	(8,957)	(10,106)	(12,567)	(11,577)	(12,459)
Adjustments
Less: Net deferred income tax assets (liabilities)¹	(1,353)	169)	726)	245)	79)
Add: Allowances	42)	70)	23)	20)	25)
Add: Accrued product warranty	104)	113)	137)	140)	67)
Add: Exit cost liabilities	40)	142)	180)	191)	—)
Add: Noncontrolling interests	2,646)	1,898)	1,936)	1,978)	1,720)
After Adjustment
Adjusted total stockholders’ deficit	(4,772)	(8,052)	(11,017)	(9,493)	(10,726)

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).

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

Download chart

Philip Morris International Inc., adjusted capitalization table

US$ in millions

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Short-term borrowings	5,637)	225)	244)	338)	730)
Current portion of long-term debt	2,611)	2,798)	3,124)	4,051)	4,054)
Long-term debt, excluding current portion	34,875)	24,783)	28,168)	26,656)	26,975)
Total reported debt	43,123)	27,806)	31,536)	31,045)	31,759)
Total PMI stockholders’ deficit	(8,957)	(10,106)	(12,567)	(11,577)	(12,459)
Total reported capital	34,166)	17,700)	18,969)	19,468)	19,300)
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	657)
Add: Current operating lease liabilities (included in Accrued liabilities, Other)²	178)	192)	190)	194)	—)
Add: Noncurrent operating lease liabilities (included in Income taxes and other liabilities)³	436)	344)	517)	569)	—)
Adjusted total debt	43,737)	28,342)	32,243)	31,808)	32,416)
Adjustments to Equity
Less: Net deferred income tax assets (liabilities)⁴	(1,353)	169)	726)	245)	79)
Add: Allowances	42)	70)	23)	20)	25)
Add: Accrued product warranty	104)	113)	137)	140)	67)
Add: Exit cost liabilities	40)	142)	180)	191)	—)
Add: Noncontrolling interests	2,646)	1,898)	1,936)	1,978)	1,720)
Adjusted total stockholders’ deficit	(4,772)	(8,052)	(11,017)	(9,493)	(10,726)
After Adjustment
Adjusted total capital	38,965)	20,290)	21,226)	22,315)	21,690)

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).

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

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

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

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

Download chart

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

US$ in millions

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Net earnings attributable to PMI	9,048)	9,109)	8,056)	7,185)	7,911)
Adjustments
Add: Deferred income tax expense (benefit)¹	(234)	(18)	(143)	(141)	(100)
Add: Increase (decrease) in allowances	(28)	47)	3)	(5)	—)
Add: Increase (decrease) in accrued product warranty	(9)	(24)	(3)	73)	(4)
Add: Increase (decrease) in exit cost liabilities	(102)	(38)	(11)	191)	—)
Add: Other comprehensive earnings (losses), net of income taxes	54)	1,525)	(1,780)	791)	(1,647)
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest	515)	522)	574)	586)	304)
After Adjustment
Adjusted net earnings	9,244)	11,123)	6,696)	8,680)	6,464)

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).

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

Download chart

Philip Morris International Inc. (NYSE:PM)

Adjustments to Financial Statements

Adjustments to Current Assets

Adjustments to Total Assets

Adjustments to Current Liabilities

Adjustments to Total Liabilities

Adjustments to Stockholders’ Equity

Adjustments to Capitalization Table

Adjustments to Reported Income