Balance Sheet: Assets
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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Philip Morris International Inc. pages available for free this week:
- Statement of Comprehensive Income
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2008
- Debt to Equity since 2008
- Price to Earnings (P/E) since 2008
- Analysis of Revenues
- Analysis of Debt
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Philip Morris International Inc., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
Total assets experienced substantial growth over the analyzed period, rising from 39.8 billion US dollars in March 2021 to 68.9 billion US dollars by March 2026. This expansion is characterized by a steady increase in current assets and a significant structural shift in noncurrent assets occurring in late 2022.
- Current Asset Dynamics
- Current assets grew from 17.9 billion US dollars to 25.6 billion US dollars. A primary driver of this growth was the increase in trade receivables, which climbed from 3.3 billion US dollars in March 2021 to 5.1 billion US dollars by March 2026. Inventories also showed a general upward trend, moving from 9.0 billion US dollars to 11.4 billion US dollars, with finished product levels exhibiting notable volatility but ending significantly higher than the baseline.
- Cash and cash equivalents fluctuated throughout the period, maintaining a range between 2.4 billion and 5.5 billion US dollars, with a recent upward trend emerging between December 2025 and March 2026.
- Noncurrent Asset Expansion and Structural Shifts
- The most prominent change in the balance sheet occurred in December 2022, where goodwill surged from 6.1 billion US dollars in September 2022 to 19.6 billion US dollars. Simultaneously, other intangible assets increased from 2.2 billion US dollars to 6.7 billion US dollars in the same timeframe, indicating a major acquisition or business combination.
- Property, plant, and equipment, net of accumulated depreciation, demonstrated consistent growth, increasing from 5.9 billion US dollars in March 2021 to 8.2 billion US dollars in March 2026, reflecting ongoing capital investment.
- Investment and Other Asset Trends
- Equity investments remained relatively stable between 4.0 billion and 5.6 billion US dollars for the majority of the period but entered a clear decline starting in late 2024, falling to 2.4 billion US dollars by March 2026.
- Deferred income taxes and other assets remained proportional to the overall growth of the balance sheet, with other assets peaking at 5.6 billion US dollars in December 2023 before stabilizing around 3.8 billion US dollars in the final quarter.