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Philip Morris International Inc. (PM)


Statement of Comprehensive Income

Beginner level

Comprehensive income is the change in equity (net assets) of a business enterprise during a period from transactions and other events and circumstances from non-owners sources. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners.

Philip Morris International Inc., consolidated statement of comprehensive income

US$ in millions

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12 months ended Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Net earnings 7,728  8,286  6,341  7,250  7,032 
Unrealized gains (losses), net of income taxes 505  (812) 330  (14) (2,248)
(Gains) losses transferred to earnings, net of income taxes —  —  (2) (1)
(Gains) losses transferred to earnings, deconsolidation of RBH, net of income taxes 502  —  —  —  — 
Change in currency translation adjustments 1,007  (812) 328  (9) (2,249)
Net gains (losses) and prior service costs, net of income taxes (454) (1,046) 523  (460) (536)
Amortization of net losses, prior service costs and net transition costs, net of income taxes 243  218  228  224  227 
(Gains) losses transferred to earnings, deconsolidation of RBH, net of income taxes 27  —  —  —  — 
Change in net loss and prior service cost (184) (828) 751  (236) (309)
Gains (losses) recognized, net of income taxes (18) 24  (44) 38 
(Gains) losses transferred to earnings, net of income taxes (14) (31) (11) 30  (102)
Change in fair value of derivatives accounted for as hedges (32) (7) (55) 38  (64)
Other comprehensive earnings (losses), net of income taxes 791  (1,647) 1,024  (207) (2,622)
Comprehensive earnings 8,519  6,639  7,365  7,043  4,410 
Comprehensive earnings attributable to noncontrolling interests (586) (304) (306) (233) (113)
Comprehensive earnings attributable to PMI 7,933  6,335  7,059  6,810  4,297 

Based on: 10-K (filing date: 2020-02-07), 10-K (filing date: 2019-02-07), 10-K (filing date: 2018-02-13), 10-K (filing date: 2017-02-14), 10-K (filing date: 2016-02-17).

Comprehensive income item Description The company
Net earnings attributable to PMI The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Philip Morris International Inc.’s net earnings attributable to PMI increased from 2017 to 2018 but then slightly decreased from 2018 to 2019.
Comprehensive earnings attributable to PMI Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Philip Morris International Inc.’s comprehensive earnings attributable to PMI decreased from 2017 to 2018 but then increased from 2018 to 2019 exceeding 2017 level.