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: Assets
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- Price to FCFE (P/FCFE)
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Total Asset Turnover since 2008
- Price to Earnings (P/E) since 2008
- Analysis of Revenues
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Philip Morris International Inc., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Cash and Cash Equivalents
- Cash and cash equivalents exhibited a fluctuating trend over the periods. Initial growth from March 2020 through December 2020 was followed by volatility in subsequent years. There was a notable peak in September 2022 before declining sharply towards December 2022 and fluctuating thereafter without a clear upward or downward trajectory through 2025.
- Trade Receivables, Less Allowances
- Trade receivables generally increased over the timeframe, with intermittent declines. After some oscillation during 2020-2021, a steady increase was observed from early 2022 through mid-2025, indicating growth in credit sales or delayed collections.
- Other Receivables, Less Allowances
- Other receivables showed moderate growth with periodic fluctuations but maintained an overall upward trajectory from 2020 to 2025, suggesting rising amounts due from other sources.
- Leaf Tobacco Inventory
- Leaf tobacco inventory levels showed a decreasing trend from early 2020 until late 2022, reflecting possible changes in supply chain or inventory management, before rising continuously through 2025, suggesting accumulation or demand preparation.
- Other Raw Materials Inventory
- Other raw materials inventory levels fluctuated considerably but generally trended upward from 2020 through late 2025. Peaks occurred in early 2022 and mid-2025, possibly reflecting procurement cycles or price anticipation.
- Finished Product Inventory
- Finished product inventory exhibited significant variability with increases and decreases over quarterly periods. Notably, large peaks appeared near the end of the years 2020, 2022, and 2023, indicating cycles of production buildup and distribution.
- Total Inventories
- Total inventories reflected fluctuations consistent with constituent inventories but showed a general stable pattern with slight growth spikes at year ends, indicating planned inventory adjustments throughout the years.
- Other Current Assets
- Other current assets increased gradually over time, with a large jump observed in 2022 continuing through 2025, suggesting growth in miscellaneous short-term assets or prepaid expenses.
- Current Assets
- Current assets grew from 16.9 billion USD in March 2020 to approximately 22.7 billion USD by mid-2025, reflecting growth primarily driven by increases in other current assets and inventories.
- Property, Plant and Equipment (PPE) at Cost
- PPE at cost rose steadily from 13.7 billion USD in early 2020 to nearly 19.2 billion USD by the end of the period, indicating ongoing investment in fixed assets.
- Accumulated Depreciation
- Accumulated depreciation increased over time, reflecting wear and usage of assets consistent with asset base growth. The amounts suggest ongoing asset aging and regular depreciation expenses.
- Net PPE (Less Accumulated Depreciation)
- Net PPE levels remained fairly stable with some cyclical increases, suggesting a balance between asset acquisitions and depreciation charges. There was moderate growth towards the later periods.
- Goodwill
- Goodwill remained relatively stable and elevated, with a remarkable increase in 2022, peaking at nearly 20 billion USD, implying acquisition or revaluation events in that timeframe. It then settled back to levels around 17 billion USD, maintaining a high intangible asset base.
- Other Intangible Assets, Net
- Other intangible assets showed a significant increase starting in late 2021, more than tripling by early 2023, followed by sustained high levels, reflecting substantial intangible acquisitions or asset revaluations.
- Equity Investments
- Equity investments showed a moderate upward trend through 2023, followed by a sharp decline in 2024, then partially recovering by 2025, indicating changes in the company's investment portfolio or divestiture activities.
- Deferred Income Taxes
- Deferred income tax assets fluctuated mildly but remained within a narrow range, showing no significant long-term trend, consistent with tax timing differences stabilizing over time.
- Other Assets, Less Allowances
- Other noncurrent assets increased notably during 2022, peaking around early 2023, then fluctuated but remained elevated relative to earlier periods, indicating growth in miscellaneous long-term assets or provisions.
- Noncurrent Assets
- Noncurrent assets increased substantially, particularly following 2021, which aligns with intangible asset growth and goodwill spikes, signifying considerable investments or acquisitions enhancing long-term asset values.
- Total Assets
- Total assets displayed an upward trend, growing from approximately 37.5 billion USD in March 2020 to peak values exceeding 68 billion USD in late 2024 before moderating slightly in 2025. This increase is driven by rises in current and noncurrent asset components, notably intangible assets and goodwill.