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Philip Morris International Inc. (NYSE:PM)


Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

Beginner level

The balance sheet provides creditors, investors, and analysts with information on company’s resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company’s 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 (quarterly data)

US$ in millions

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Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015
Short-term borrowings 1,438  338  355  269  1,551  730  545  592  608  499  2,905  898  1,004  643  710  696  673  825  1,007  1,710  3,384 
Current portion of long-term debt 1,933  4,051  5,035  4,762  5,582  4,054  3,042  3,025  4,662  2,506  3,005  4,254  1,754  2,573  2,417  1,175  2,437  2,405  2,100  2,926  1,629 
Accounts payable 2,073  2,299  1,704  1,708  1,812  2,068  1,662  1,953  2,156  2,242  1,973  1,909  1,746  1,666  1,573  1,547  1,496  1,289  1,237  1,089  1,038 
Marketing and selling 645  666  677  636  580  732  684  634  668  708  680  682  576  575  638  599  536  640  535  476  437 
Taxes, except income taxes 5,058  5,837  5,130  5,780  4,354  5,088  5,142  6,854  5,085  5,324  5,491  5,376  4,275  6,204  4,376  4,488  4,569  5,121  4,336  4,546  3,945 
Employment costs 783  1,042  813  748  713  794  808  736  770  856  825  743  719  800  812  735  735  903  802  834  848 
Dividends payable 1,832  1,831  1,831  1,784  1,783  1,783  1,783  1,785  1,675  1,669  1,669  1,623  1,622  1,621  1,623  1,591  1,591  1,589  1,589  1,558  1,559 
Other 2,011  1,973  1,777  1,765  1,741  1,366  1,301  1,319  1,556  1,346  1,503  1,337  1,329  1,553  1,177  1,121  1,387  1,438  1,238  1,366  1,482 
Accrued liabilities 10,329  11,349  10,228  10,713  9,171  9,763  9,718  11,328  9,754  9,903  10,168  9,761  8,521  10,753  8,626  8,534  8,818  9,691  8,500  8,780  8,271 
Income taxes 811  796  723  594  370  576  632  543  508  812  463  421  330  832  875  665  576  970  1,063  651  493 
Deferred income taxes —  —  —  —  —  —  —  —  —  —  —  —  —  —  57  55  91  206  195  230  165 
Current liabilities 16,584  18,833  18,045  18,046  18,486  17,191  15,599  17,441  17,688  15,962  18,514  17,243  13,355  16,467  14,258  12,672  14,091  15,386  14,102  15,386  14,980 
Long-term debt, excluding current portion 24,999  26,656  26,426  24,858  23,131  26,975  28,179  28,048  29,578  31,334  28,065  26,595  28,588  25,851  26,960  28,098  26,683  25,250  25,800  24,566  25,572 
Deferred income taxes 838  908  905  786  921  898  809  793  822  799  1,037  1,362  1,739  1,897  1,376  1,463  1,378  1,543  1,614  1,799  1,975 
Employment costs 3,560  3,634  2,859  2,952  2,958  3,083  2,110  2,136  2,272  2,271  2,868  2,908  2,840  2,800  2,556  2,552  2,602  2,566  2,061  2,124  2,097 
Income taxes and other liabilities 2,576  2,443  2,340  2,690  2,731  2,393  2,625  2,471  3,192  2,832  1,100  829  662  736  744  816  761  687  660  636  877 
Noncurrent liabilities 31,973  33,641  32,530  31,286  29,741  33,349  33,723  33,448  35,864  37,236  33,070  31,694  33,829  31,284  31,636  32,929  31,424  30,046  30,135  29,125  30,521 
Total liabilities 48,557  52,474  50,575  49,332  48,227  50,540  49,322  50,889  53,552  53,198  51,584  48,937  47,184  47,751  45,894  45,601  45,515  45,432  44,237  44,511  45,501 
Common stock, no par value —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Additional paid-in capital 1,992  2,019  1,981  1,948  1,907  1,939  1,906  1,893  1,856  1,972  1,942  1,917  1,892  1,964  1,934  1,907  1,874  1,929  783  757  613 
Earnings reinvested in the business 30,984  30,987  31,197  31,128  30,588  31,014  30,877  30,406  29,985  29,859  30,831  30,528  30,367  30,397  30,305  29,985  29,785  29,842  30,178  29,822  29,489 
Accumulated other comprehensive losses (10,774) (9,363) (8,966) (9,051) (9,237) (10,111) (9,199) (8,908) (8,883) (8,535) (8,797) (9,070) (9,265) (9,559) (8,889) (8,955) (8,914) (9,402) (8,927) (8,107) (8,090)
Cost of repurchased stock (35,146) (35,220) (35,222) (35,224) (35,226) (35,301) (35,304) (35,306) (35,308) (35,382) (35,383) (35,383) (35,386) (35,490) (35,492) (35,493) (35,498) (35,613) (35,616) (35,623) (35,628)
Total PMI stockholders’ deficit (12,944) (11,577) (11,010) (11,199) (11,968) (12,459) (11,720) (11,915) (12,350) (12,086) (11,407) (12,008) (12,392) (12,688) (12,142) (12,556) (12,753) (13,244) (13,582) (13,151) (13,616)
Noncontrolling interests 1,881  1,978  1,855  1,790  1,783  1,720  1,778  1,747  1,868  1,856  1,774  1,731  1,835  1,788  1,825  1,757  1,859  1,768  1,356  1,353  1,370 
Total stockholders’ deficit (11,063) (9,599) (9,155) (9,409) (10,185) (10,739) (9,942) (10,168) (10,482) (10,230) (9,633) (10,277) (10,557) (10,900) (10,317) (10,799) (10,894) (11,476) (12,226) (11,798) (12,246)
Total liabilities and stockholders’ deficit 37,494  42,875  41,420  39,923  38,042  39,801  39,380  40,721  43,070  42,968  41,951  38,660  36,627  36,851  35,577  34,802  34,621  33,956  32,011  32,713  33,255 

Based on: 10-Q (filing date: 2020-04-28), 10-K (filing date: 2020-02-07), 10-Q (filing date: 2019-10-24), 10-Q (filing date: 2019-07-25), 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-07), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-04-27), 10-K (filing date: 2017-02-14), 10-Q (filing date: 2016-10-25), 10-Q (filing date: 2016-07-26), 10-Q (filing date: 2016-04-26), 10-K (filing date: 2016-02-17), 10-Q (filing date: 2015-10-30), 10-Q (filing date: 2015-07-30), 10-Q (filing date: 2015-05-01).

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.’s current liabilities increased from Q3 2019 to Q4 2019 but then decreased significantly from Q4 2019 to Q1 2020.
Noncurrent liabilities Amount of obligation due after one year or beyond the normal operating cycle, if longer. Philip Morris International Inc.’s noncurrent liabilities increased from Q3 2019 to Q4 2019 but then decreased significantly from Q4 2019 to Q1 2020.
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.’s total liabilities increased from Q3 2019 to Q4 2019 but then decreased significantly from Q4 2019 to Q1 2020.
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’s 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.’s total PMI stockholders’ deficit decreased from Q3 2019 to Q4 2019 and from Q4 2019 to Q1 2020.