REG-Philip Morris International Inc. Philip Morris International Inc. (PMI) Reports 2017 Results; Excluding Currency & Tax Items, Ful
08/02/2018 12:01
- Part 5: For the preceding part double click ID:nBw5Dr1Myd
2016 % Change in Combustible Products Net Revenues excluding Excise Taxes
Net Revenues (1) Less Excise Taxes (3) Net Revenues excluding Excise Taxes Less Currency Net Revenues excluding Excise Taxes & Currency Less Acquisitions Net Revenues excluding Excise Taxes, Currency & Acquisitions Combustible Products Net Revenues (1) Less Excise Taxes (3) Net Revenues excluding Excise Taxes Total Excluding Currency Excluding Currency & Acquisitions
$ 7,278 $ 5,138 $ 2,140 $ 130 $ 2,009 $ — $ 2,009 European Union $ 6,437 $ 4,518 $ 1,919 11.5 % 4.7 % 4.7 %
4,778 3,098 1,680 (22 ) 1,702 — 1,702 EEMA 4,630 2,838 1,792 (6.3 )% (5.1 )% (5.1 )%
5,093 3,089 2,003 (36 ) 2,039 — 2,039 Asia 5,205 3,072 2,133 (6.1 )% (4.4 )% (4.4 )%
2,706 1,878 828 2 826 — 826 Latin America & Canada 2,571 1,786 785 5.5 % 5.3 % 5.3 %
$ 19,855 $ 13,204 $ 6,651 $ 75 $ 6,576 $ — $ 6,576 Total Combustible Products $ 18,843 $ 12,215 $ 6,628 0.3 % (0.8 )% (0.8 )%
2017 2016 % Change in Reduced-Risk Products Net Revenues excluding Excise Taxes
Net Revenues (2) Less Excise Taxes (3) Net Revenues excluding Excise Taxes Less Currency Net Revenues excluding Excise Taxes & Currency Less Acquisitions Net Revenues excluding Excise Taxes, Currency & Acquisitions Reduced-Risk Products Net Revenues (2) Less Excise Taxes (3) Net Revenues excluding Excise Taxes Total Excluding Currency Excluding Currency & Acquisitions
$ 147 $ 23 $ 124 $ 7 $ 116 $ — $ 116 European Union $ 27 3 $ 25 +100% +100% +100%
90 5 85 — 85 — 85 EEMA 6 — 6 +100% +100% +100%
1,491 59 1,432 (68 ) 1,500 — 1,500 Asia 312 — 312 +100% +100% +100%
3 — 3 — 3 — 3 Latin America & Canada — — — +100% +100% +100%
$ 1,730 $ 87 $ 1,643 $ (60 ) $ 1,704 $ — $ 1,704 Total Reduced-Risk Products $ 345 $ 3 $ 343 +100% +100% +100%
$ 21,585 $ 13,291 $ 8,294 $ 14 $ 8,280 $ — $ 8,280 PMI Total $ 19,189 $ 12,218 $ 6,971 19.0 % 18.8% 18.8%
(1) Net revenue amounts for our combustible products refer to the operating
revenues generated from the sale of these products, net of sales and promotion
incentives. These net revenue amounts consist of the sale of our cigarettes
and other tobacco products combined. Other tobacco products primarily include
tobacco for roll-your-own and make-your-own cigarettes, pipe tobacco, cigars
and cigarillos and do not include reduced-risk products.
(2) Net revenue amounts for our reduced-risk products refer to the operating
revenues generated from the sale of these products, net of sales and promotion
incentives. These net revenue amounts consist of the sale of our heated
tobacco units, our IQOS devices and related accessories, and other
nicotine-containing products, which primarily include our e-vapor products.
Reduced-risk products is the term we use to refer to products that present,
are likely to present, or have the potential to present less risk of harm to
smokers who switch to these products versus continued smoking. We have a range
of reduced- risk products in various stages of development, scientific
assessment and commercialization. Because our reduced-risk products do not
burn tobacco, they produce far lower quantities of harmful and potentially
harmful compounds than found in cigarette smoke.
(3) PMI often collects excise taxes from its customers and then remits them to
governments, and, in those circumstances, PMI includes the excise taxes in its
net revenues and in excise taxes on products. In some jurisdictions, including
Japan, PMI is not responsible for collecting excise taxes.
Note: Sum of product categories or Regions might not foot to PMI total due to
rounding.
Schedule 12
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)
2017 2016 % 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 excluding Currency Adjusted excluding Currency & Acquisitions
$ 992 $ — $ 992 $ 39 $ 953 $ — $ 953 European Union $ 898 $ — $ 898 10.5 % 6.1 % 6.1 %
700 — 700 264 436 — 436 EEMA 627 — 627 11.6 % (30.5 )% (30.5 )%
1,396 — 1,396 (97 ) 1,493 — 1,493 Asia 908 — 908 53.7 % 64.4 % 64.4 %
293 — 293 (10 ) 303 — 303 Latin America & 261 — 261 12.3 % 16.1 % 16.1 %
Canada
$ 3,381 $ — $ 3,381 $ 196 $ 3,185 $ — $ 3,185 PMI Total $ 2,694 $ — $ 2,694 25.5 % 18.2 % 18.2 %
2017 2016 % 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 & Adjusted Operating Companies Income Net Revenues excluding Excise Taxes(1) Adjusted Operating Companies Income Margin Adjusted Operating Companies Income Adjusted Operating Companies Income Margin excluding
Acquisitions Margin excluding Currency Currency &
Acquisitions
$ 953 $ 2,125 44.8 % $ 953 $ 2,125 44.8 % European Union $ 898 $ 1,944 46.2 % (1.4 ) (1.4 )
436 1,787 24.4 % 436 1,787 24.4 % EEMA 627 1,798 34.9 % (10.5 ) (10.5 )
1,493 3,539 42.2 % 1,493 3,539 42.2 % Asia 908 2,444 37.2 % 5.0 5.0
303 829 36.6 % 303 829 36.6 % Latin America & 261 785 33.2 % 3.4 3.4
Canada
$ 3,185 $ 8,280 38.5 % $ 3,185 $ 8,280 38.5 % PMI Total $ 2,694 $ 6,971 38.6 % (0.1 ) (0.1 )
- More to follow, for following part double click ID:nBw5Dr1MyfRecent news on Philip Morris International
See all newsREG - Swedish Match AB - Swedish Match Consent Solicitation Results
AnnouncementREG - Swedish Match AB - Swedish Match AB Notes Consent Solicitation
AnnouncementREG - Philip Morris Int Vectura Group plc - PMI Confirmation of Vectura Intention Statements
AnnouncementREG - Philip Morris Int Vectura Group plc - Offer Update
AnnouncementREG - Philip Morris Int Vectura Group plc - Delisting of Vectura
Announcement