Balance Sheet: Liabilities and Stockholders’ Equity

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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

Philip Morris International Inc., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
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)
Accounts payable	4,076)	3,331)	2,780)	2,299)	2,068)
Marketing and selling	695)	811)	782)	666)	732)
Taxes, except income taxes	7,440)	6,324)	6,403)	5,837)	5,088)
Employment costs	1,168)	1,146)	1,189)	1,042)	794)
Dividends payable	1,990)	1,958)	1,880)	1,831)	1,783)
Other	2,679)	1,637)	2,122)	1,973)	1,366)
Accrued liabilities	13,972)	11,876)	12,376)	11,349)	9,763)
Income taxes	1,040)	1,025)	1,091)	796)	576)
Current liabilities	27,336)	19,255)	19,615)	18,833)	17,191)
Long-term debt, excluding current portion	34,875)	24,783)	28,168)	26,656)	26,975)
Deferred income taxes	1,956)	726)	684)	908)	898)
Employment costs	1,984)	2,968)	4,470)	3,634)	3,083)
Income taxes and other liabilities	1,841)	1,766)	2,509)	2,443)	2,393)
Noncurrent liabilities	40,656)	30,243)	35,831)	33,641)	33,349)
Total liabilities	67,992)	49,498)	55,446)	52,474)	50,540)
Common stock, no par value	—)	—)	—)	—)	—)
Additional paid-in capital	2,230)	2,225)	2,105)	2,019)	1,939)
Earnings reinvested in the business	34,289)	33,082)	31,638)	30,987)	31,014)
Accumulated other comprehensive losses	(9,559)	(9,577)	(11,181)	(9,363)	(10,111)
Cost of repurchased stock	(35,917)	(35,836)	(35,129)	(35,220)	(35,301)
Total PMI stockholders’ deficit	(8,957)	(10,106)	(12,567)	(11,577)	(12,459)
Noncontrolling interests	2,646)	1,898)	1,936)	1,978)	1,720)
Total stockholders’ deficit	(6,311)	(8,208)	(10,631)	(9,599)	(10,739)
Total liabilities and stockholders’ deficit	61,681)	41,290)	44,815)	42,875)	39,801)

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).

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Balance sheet item	Description	The company
Current liabilities	Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.	Philip Morris International Inc. current liabilities decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level.
Noncurrent liabilities	Amount of obligation due after one year or beyond the normal operating cycle, if longer.	Philip Morris International Inc. noncurrent liabilities decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level.
Total liabilities	Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.	Philip Morris International Inc. total liabilities decreased from 2020 to 2021 but then increased from 2021 to 2022 exceeding 2020 level.
Total PMI stockholders’ deficit	Total of all stockholders’ equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity stockholders’ equity attributable to the parent excludes the amount of stockholders’ equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.	Philip Morris International Inc. total PMI stockholders’ deficit increased from 2020 to 2021 and from 2021 to 2022.

Philip Morris International Inc. (NYSE:PM)

Balance Sheet: Liabilities and Stockholders’ Equity