REG-Philip Morris International Inc. Philip Morris International Inc. (PMI) Reports 2017 Results; Excluding Currency & Tax Items, Ful

Philip Morris InternationalAnnouncement

08/02/2018 12:06

- Part 6: For the preceding part double click  ID:nBw5Dr1Mye 

                                                                                                                                                                                                                                                                                                                                                                                                          
 (1) For the calculation of Net Revenues excluding Excise Taxes,                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
      currency and acquisitions, refer to Schedule 10.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              

                                                                                                                   
                                                                                                      Schedule 13  
 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)                                                                                          
                                                                                                                   
                                                                                                                   
                                                   2017               2016              % Change                   
                                                                                                                   
 Reported Diluted EPS                              $    0.44          $   1.10          (60.0  )%                  
                                                                                                                   
 Less:                                                                                                             
 Currency impact                                   0.01                                                            
                                                                                                                   
 Reported Diluted EPS, excluding Currency          $    0.43          $   1.10          (60.9  )%                  
                                                                                                                   
                                                                                                                   
                                                   2017               2016              % Change                   
                                                                                                                   
 Reported Diluted EPS                              $    0.44          $   1.10          (60.0  )%                  
                                                                                                                   
 Adjustments:                                                                                                      
 Asset impairment and exit costs                   —                  —                                            
 Tax items                                         0.88               —                                            
                                                                                                                   
 Adjusted Diluted EPS                              $    1.32          $   1.10          20.0   %                   
                                                                                                                   
 Less:                                                                                                             
 Currency impact                                   0.01                                                            
                                                                                                                   
 Adjusted Diluted EPS, excluding Currency          $    1.31          $   1.10          19.1   %                   
                                                                                                                   

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   Schedule 14                               
 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)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
 2017                                                                                                                                                                                                                                                                                                                                                  2016                                                                                                % Change in Net Revenues excluding Excise Taxes                                                   
 Net Revenues                         Less Excise Taxes           Net Revenues excluding Excise Taxes           Less Currency            Net Revenues excluding Excise Taxes & Currency               Less Acquisitions                    Net Revenues excluding Excise Taxes, Currency & Acquisitions                                                Net Revenues              Less Excise Taxes           Net Revenues excluding Excise Taxes           Total                   Excluding Currency              Excluding Currency & Acquisitions         
 $          27,580                    $       19,262              $             8,318                           $      45                $                  8,273                                     $          —                         $                       8,273                                               European Union                  $      27,129             $       18,967              $             8,162                           1.9     %               1.4         %                   1.4                  %                    
 18,045                               11,346                      6,699                                         (291          )          6,990                                                        —                                    6,990                                                                       EEMA                            18,286                    11,286                      7,000                                         (4.3    )%              (0.1        )%                  (0.1                 )%                   
 22,635                               11,845                      10,790                                        (137          )          10,927                                                       —                                    10,927                                                                      Asia                            20,531                    11,850                      8,681                                         24.3    %               25.9        %                   25.9                 %                    
 9,838                                6,897                       2,941                                         (54           )          2,995                                                        —                                    2,995                                                                       Latin America & Canada          9,007                     6,165                       2,842                                         3.5     %               5.4         %                   5.4                  %                    
 $          78,098                    $       49,350              $             28,748                          $      (437   )          $                  29,185                                    $          —                         $                       29,185                                              PMI Total                       $      74,953             $       48,268              $             26,685                          7.7     %               9.4         %                   9.4                  %                    
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
 2017                                                                                                                                                                                                                                                                                                                                                  2016                                                                                                % Change in Operating Companies Income                                                            
 Operating Companies Income                                                                                     Less Currency            Operating Companies Income excluding Currency                Less                                 Operating Companies Income excluding Currency & Acquisitions                                                                                                      Operating Companies Income                    Total                   Excluding Currency              Excluding Currency & Acquisitions         
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
                                                                                                                                                                                                                   Acquisitions                                                                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
 $          3,775                                                                                               $      (43    )          $                  3,818                                     $          —                         $                       3,818                                               European Union                                                                        $             3,994                           (5.5    )%              (4.4        )%                  (4.4                 )%                   
 2,888                                                                                                          81                       2,807                                                        —                                    2,807                                                                       EEMA                                                                                  3,016                                         (4.2    )%              (6.9        )%                  (6.9                 )%                   
 4,149                                                                                                          (123          )          4,272                                                        —                                    4,272                                                                       Asia                                                                                  3,196                                         29.8    %               33.7        %                   33.7                 %                    
 1,002                                                                                                          (70           )          1,072                                                        —                                    1,072                                                                       Latin America & Canada                                                                938                                           6.8     %               14.3        %                   14.3                 %                    
 $          11,814                                                                                              $      (155   )          $                  11,969                                    $          —                         $                       11,969                                              PMI Total                                                                             $             11,144                          6.0     %               7.4         %                   7.4                  %                    
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            Schedule 15                               
 PHILIP MORRIS INTERNATIONAL INC. and Subsidiaries                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
              Reconciliation                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          
      of Non-GAAP Measures                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
              Selected Financial Data by Product Category                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
              For                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     
      the Years Ended December 31,                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
              ($ in millions) / (Unaudited)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
 2017                                                                                                                                                                                                                                                                                                                                       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         
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
 $       27,261              $         19,213                  $             8,048                           $      39                $                  8,009                                     $       —                   $                       8,009                                               European Union                   $       27,067              $         18,962                  $             8,105                           (0.7       )%                    (1.2        )%                     (1.2                 )%                   
 17,886                      11,336                            6,550                                         (290          )          6,840                                                        —                           6,840                                                                       EEMA                             18,276                      11,286                            6,991                                         (6.3       )%                    (2.1        )%                     (2.1                 )%                   
 19,325                      11,753                            7,572                                         (43           )          7,615                                                        —                           7,615                                                                       Asia                             19,865                      11,850                            8,015                                         (5.5       )%                    (5.0        )%                     (5.0                 )%                   
 9,833                       6,896                             2,937                                         (54           )          2,991                                                        —                           2,991                                                                       Latin America & Canada           9,006                       6,164                             2,841                                         3.4        %                     5.3         %                      5.3                  %                    
 $       74,305              $         49,198                  $             25,107                          $      (348   )          $                  25,456                                    $       —                   $                       25,456                                              Total Combustible Products       $       74,214              $         48,262                  $             25,952                          (3.3       )%                    (1.9        )%                     (1.9                 )%                   
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
 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         
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
 $       320                 $         51                      $             269                             $      5                 $                  264                                       $       —                   $                       264                                                 European Union                   $       62                  5                                 $             57                              +100%                            +100%                              +100%                                     
 158                         10                                149                                           —                        149                                                          —                           149                                                                         EEMA                             9                           —                                 9                                             +100%                            +100%                              +100%                                     
 3,310                       92                                3,218                                         (94           )          3,312                                                        —                           3,312                                                                       Asia                             666                         —                                 666                                           +100%                            +100%                              +100%                                     
 5                           —                                 4                                             —                        4                                                            —                           4                                                                           Latin America & Canada           2                           1                                 1                                             +100%                            +100%                              +100%                                     
 $       3,793               $         153                     $             3,640                           $      (89    )          $                  3,729                                     $       —                   $                       3,729                                               Total Reduced-Risk Products      $       739                 $         6                       $             733                             +100%                            +100%                              +100%                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
 $       78,098              $         49,350                  $             28,748                          $      (437   )          $                  29,185                                    $       —                   $                       29,185                                              PMI Total                        $       74,953              $         48,268                  $             26,685                          7.7        %                     9.4         %                      9.4                  %                    
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
 (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.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
                                                                                                                                               

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