REG-Philip Morris International Inc. Philip Morris International Inc. (PMI) Reports 2016 Results; Provides 2017 Earnings Per Share Fo
02/02/2017 12:06
- Part 4: For the preceding part double click ID:nBw7kRJXqc
12,156
Long-term debt 25,851 25,250
Deferred income taxes 1,897 1,543
Other long-term liabilities 3,536 3,253
Total liabilities 47,751 45,432
Total PMI stockholders' deficit (12,688 ) (13,244 )
Noncontrolling interests 1,788 1,768
Total stockholders' deficit (10,900 ) (11,476 )
Total liabilities and stockholders' (deficit) equity $ 36,851 $ 33,956
Total debt $ 29,067 $ 28,480
Total debt to Adjusted EBITDA 2.51 (1) 2.49 (1)
Net debt to Adjusted EBITDA 2.15 (1) 2.19 (1)
(1) For the calculation of Total Debt to Adjusted EBITDA and Net Debt to
Adjusted EBITDA ratios, refer to Schedule 16.
Schedule 10
PHILIP MORRIS INTERNATIONAL INC.
and Subsidiaries
Reconciliation of Non-GAAP Measures
Adjustments for the Impact of Currency and Acquisitions
For the Quarters Ended December 31,
($ in millions)
(Unaudited)
2016 2015 % Change in Net Revenues excluding Excise Taxes
Net Revenues LessExcise Taxes Net Revenues excluding Excise Taxes LessCurrency Net Revenues excluding Excise Taxes & Currency LessAcquisitions Net Revenues excluding Excise Taxes, Currency & Acquisitions Net Revenues LessExcise Taxes Net Revenues excluding Excise Taxes Total Excluding Currency Excluding Currency & Acquisitions
$ 6,465 $ 4,521 $ 1,944 $ (25 ) $ 1,969 $ — $ 1,969 European Union $ 6,647 $ 4,713 $ 1,934 0.5 % 1.8% 1.8%
4,636 2,838 1,798 (85 ) 1,883 — 1,883 EEMA 4,420 2,703 1,717 4.7 % 9.7% 9.7%
5,517 3,073 2,444 118 2,326 — 2,326 Asia 4,786 2,867 1,919 27.4 % 21.2% 21.2%
2,571 1,786 785 (98 ) 883 — 883 Latin America & Canada 2,518 1,696 822 (4.5 )% 7.4% 7.4%
$ 19,189 $ 12,218 $ 6,971 $ (90 ) $ 7,061 $ — $ 7,061 PMI Total $ 18,371 $ 11,979 $ 6,392 9.1 % 10.5% 10.5%
2016 2015 % Change in Operating Companies Income
Operating Companies Income Less Currency Operating Companies Income excluding Currency Less Acquisitions Operating Companies Income excluding Currency & Acquisitions Operating Companies Income Total Excluding Currency Excluding Currency & Acquisitions
$ 898 $ 29 $ 869 $ — $ 869 European Union $ 599 49.9 % 45.1% 45.1%
627 (390 ) 1,017 — 1,017 EEMA 704 (10.9 )% 44.5% 44.5%
908 63 845 — 845 Asia 465 95.3 % 81.7% 81.7%
261 (62 ) 323 — 323 Latin America & Canada 236 10.6 % 36.9% 36.9%
$ 2,694 $ (360 ) $ 3,054 $ — $ 3,054 PMI Total $ 2,004 34.4 % 52.4% 52.4%
Schedule 11
PHILIP MORRIS INTERNATIONAL INC.
and Subsidiaries
Reconciliation of Non-GAAP Measures
Reconciliation of Operating Companies Income to Adjusted Operating Companies
Income &
Reconciliation of Adjusted Operating Companies Income Margin, excluding
Currency and Acquisitions
For the Quarters Ended December 31,
($ in millions)
(Unaudited)
2016 2015 % Change in Adjusted Operating Companies Income
Operating Companies Income Less Asset Impairment & Exit Costs Adjusted Operating Companies Income Less Currency Adjusted Operating Companies Income excluding Currency Less Acquisitions Adjusted Operating Companies Income excluding Currency & Acquisitions Operating Companies Income Less Asset Impairment & Exit Costs Adjusted Operating Companies Income Adjusted Adjusted Adjusted excluding Currency & Acquisitions
excluding
Currency
$ 898 $ — $ 898 $ 29 $ 869 $ — $ 869 European Union $ 599 $ (68 ) $ 667 34.6 % 30.3% 30.3%
627 — 627 (390 ) 1,017 — 1,017 EEMA 704 — 704 (10.9 )% 44.5% 44.5%
908 — 908 63 845 — 845 Asia 465 — 465 95.3 % 81.7% 81.7%
261 — 261 (62 ) 323 — 323 Latin America & Canada 236 — 236 10.6 % 36.9% 36.9%
$ 2,694 $ — $ 2,694 $ (360 ) $ 3,054 $ — $ 3,054 PMI Total $ 2,004 $ (68 ) $ 2,072 30.0 % 47.4% 47.4%
2016 2015 % Points Change
Adjusted Operating Companies Income excluding Currency Net Revenues excluding Excise Taxes & Currency(1) Adjusted Operating Companies Income Margin excluding Currency Adjusted Operating Companies Income excluding Currency & Acquisitions Net Revenues excluding Excise Taxes, Currency & Acquisitions(1) Adjusted Operating Companies Income Margin excluding Currency & Acquisitions Adjusted Operating Companies Income Net Revenues excluding Excise Taxes(1) Adjusted Operating Companies Income Margin Adjusted Adjusted Operating Companies Income Margin
Operating excluding Currency & Acquisitions
Companies
Income
Margin
excluding
Currency
$ 869 $ 1,969 44.1 % $ 869 $ 1,969 44.1 % European Union $ 667 $ 1,934 34.5 % 9.6 9.6
1,017 1,883 54.0 % 1,017 1,883 54.0 % EEMA 704 1,717 41.0 % 13.0 13.0
845 2,326 36.3 % 845 2,326 36.3 % Asia 465 1,919 24.2 % 12.1 12.1
323 883 36.6 % 323 883 36.6 % Latin America & Canada 236 822 28.7 % 7.9 7.9
$ 3,054 $ 7,061 43.3 % $ 3,054 $ 7,061 43.3 % PMI Total $ 2,072 $ 6,392 32.4 % 10.9 10.9
(1) For the calculation of Net Revenues excluding Excise Taxes, currency and
acquisitions, refer to Schedule 10.
Schedule 12
PHILIP MORRIS INTERNATIONAL INC.
and Subsidiaries
Reconciliation of Non-GAAP Measures
Reconciliation of Reported Diluted EPS to Reported Diluted EPS, excluding
Currency, and
Reconciliation of Reported Diluted EPS to Adjusted Diluted EPS and Adjusted
Diluted EPS, excluding Currency
For the Quarters Ended December 31,
(Unaudited)
2016 2015 % Change
Reported Diluted EPS $ 1.10 $ 0.80 37.5%
Less:
Currency impact (0.13 )
Reported Diluted EPS, excluding Currency $ 1.23 $ 0.80 53.8%
2016 2015 % Change
Reported Diluted EPS $ 1.10 $ 0.80 37.5%
Adjustments:
Asset impairment and exit costs — 0.03
Tax items — (0.02 )
Adjusted Diluted EPS $ 1.10 $ 0.81 35.8%
Less:
Currency Impact (0.13 )
Adjusted Diluted EPS, excluding Currency $ 1.23 $ 0.81 51.9%
Schedule 13
PHILIP MORRIS INTERNATIONAL INC.
and Subsidiaries
Reconciliation of Non-GAAP Measures
Adjustments for the Impact of Currency and Acquisitions
For the Years Ended December 31,
($ in millions)
(Unaudited)
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