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

Philip Morris InternationalAnnouncement

08/02/2018 12:01

- Part 7: For the preceding part double click  ID:nBw5Dr1Myf 

                                                                                                                                                                                                                                                                                                                                                                                                                       
 Note: Sum of product categories or Regions might not foot to PMI total due to                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
 rounding.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          Schedule 16                                         
 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 Years 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          
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
 $                    3,775                                         $                   —                                           $                      3,775                                             $      (43    )          $                        3,818                                                 $                        —                                                     $                        3,818                                                 European Union               $             3,994                           $              —                                 $                3,994                                 (5.5    )%              (4.4      )%                                (4.4                      )%                        
 2,888                                                              —                                                               2,888                                                                    81                       2,807                                                                          —                                                                              2,807                                                                          EEMA                         3,016                                         —                                                3,016                                                  (4.2    )%              (6.9      )%                                (6.9                      )%                        
 4,149                                                              —                                                               4,149                                                                    (123          )          4,272                                                                          —                                                                              4,272                                                                          Asia                         3,196                                         —                                                3,196                                                  29.8    %               33.7      %                                 33.7                      %                         
 1,002                                                              —                                                               1,002                                                                    (70           )          1,072                                                                          —                                                                              1,072                                                                          Latin America &              938                                           —                                                938                                                    6.8     %               14.3      %                                 14.3                      %                         
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   Canada                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
 $                    11,814                                        $                   —                                           $                      11,814                                            $      (155   )          $                        11,969                                                $                        —                                                     $                        11,969                                                PMI Total                    $             11,144                          $              —                                 $                11,144                                6.0     %               7.4       %                                 7.4                       %                         
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
 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                                        
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
 $                    3,818                                         $                   8,273                                       46.2                                          %                                                   $                        3,818                                                 $                        8,273                                                 46.2                                              %                            European Union               $             3,994                           $              8,162                             48.9                              %                                            (2.7      )                                 (2.7                      )                         
 2,807                                                              6,990                                                           40.2                                          %                                                   2,807                                                                          6,990                                                                          40.2                                              %                            EEMA                         3,016                                         7,000                                            43.1                              %                                            (2.9      )                                 (2.9                      )                         
 4,272                                                              10,927                                                          39.1                                          %                                                   4,272                                                                          10,927                                                                         39.1                                              %                            Asia                         3,196                                         8,681                                            36.8                              %                                            2.3                                         2.3                                                 
 1,072                                                              2,995                                                           35.8                                          %                                                   1,072                                                                          2,995                                                                          35.8                                              %                            Latin America &              938                                           2,842                                            33.0                              %                                            2.8                                         2.8                                                 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   Canada                                                                                                                                                                                                                                                                                                     
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
 $                    11,969                                        $                   29,185                                      41.0                                          %                                                   $                        11,969                                                $                        29,185                                                41.0                                              %                            PMI Total                    $             11,144                          $              26,685                            41.8                              %                                            (0.8      )                                 (0.8                      )                         
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
 (1) For the calculation of Net Revenues excluding Excise Taxes,                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              
      currency and acquisitions, refer to Schedule 14.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              

                                                                                                                   
                                                                                                      Schedule 17  
 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 Years Ended December 31,                                                                     
                                                                                                                   
              (Unaudited)                                                                                          
                                                                                                                   
                                                                                                                   
                                                                                                                   
                                                                                                                   
                                               2017               2016              % Change                       
                                                                                                                   
 Reported Diluted EPS                          $    3.88          $   4.48          (13.4  )%                      
                                                                                                                   
 Less:                                                                                                             
 Currency impact                               (0.21      )                                                        
                                                                                                                   
 Reported Diluted EPS, excluding Currency      $    4.09          $   4.48          (8.7   )%                      
                                                                                                                   
                                                                                                                   
                                                                                                                   
                                               2017               2016              % Change                       
                                                                                                                   
 Reported Diluted EPS                          $    3.88          $   4.48          (13.4  )%                      
                                                                                                                   
 Adjustments:                                                                                                      
 Asset impairment and exit costs               —                  —                                                
 Tax items                                     0.84               —                                                
                                                                                                                   
 Adjusted Diluted EPS                          $    4.72          $   4.48          5.4    %                       
                                                                                                                   
 Less:                                                                                                             
 Currency impact                               (0.21      )                                                        
                                                                                                                   
 Adjusted Diluted EPS, excluding Currency      $    4.93          $   4.48          10.0   %                       
                                                                                                                   

                                                                                                                                                        
                                                                                                                       Schedule 18                      
 PHILIP MORRIS INTERNATIONAL INC.                                                                                                                       
                                                                                                                                                        
              and Subsidiaries                                                                                                                          
                                                                                                                                                        
              Reconciliation                                                                                                                            
      of Non-GAAP Measures                                                                                                                              
                                                                                                                                                        
              Calculation of Total Debt to Adjusted                                                                                                     
      EBITDA and Net Debt to Adjusted EBITDA Ratios                                                                                                     
                                                                                                                                                        
              ($ in millions,                                                                                                                           
      except ratios)                                                                                                                                    
                                                                                                                                                        
              (Unaudited)                                                                                                                               
                                                                                                                                                        
                                                                                  For the Year Ended                   For the Year Ended               
                                                                                                                                                        
                                                                                               December 31,                         December 31,        
                                                                                                                                                        
                                                                                               2017                                 2016                
                                                                                                                                                        
                                                                                                                                                        
                                                                                                                                                        
 Net Earnings                                                                     $          6,341                     $          7,250                 
 Equity (income)/loss in unconsolidated subsidiaries, net                         (59                   )              (94                   )          
 Provision for Income Taxes                                                       4,307                                2,768                            
 Interest expense, net                                                            914                                  891                              
 Depreciation and amortization                                                    875                                  743                              
 Asset impairment and exit costs                                                  —                                    —                                
 Adjusted EBITDA                                                                  $          12,378                    $          11,558                
                                                                                                                                                        
                                                                                                                                                        
                                                                                  December 31,                         December 31,                     
                                                                                                                                                        
                                                                                               2017                                 2016                
                                                                                                                                                        
 Short-term borrowings                                                            $          499                       $          643                   
 Current portion of long-term debt                                                2,506                                2,573                            
 Long-term debt                                                                   31,334                               25,851                           
 Total Debt                                                                       $          34,339                    $          29,067                
 Less: Cash and cash equivalents                                                  8,447                                4,239                            
 Net Debt                                                                         $          25,892                    $          24,828                
                                                                                                                                                        
 Ratios:                                                                                                                                                
 Total Debt to Adjusted EBITDA                                                    2.77                                 2.51                             
 Net Debt to Adjusted EBITDA                                                      2.09                                 2.15                             
                                                                                                                                                        

                                                                                                                                                                          Schedule 19     
 PHILIP MORRIS INTERNATIONAL INC.                                                                                                                                                         
                                                                                                                                                                                          
              and Subsidiaries                                                                                                                                                            
                                                                                                                                                                                          
              Reconciliation                                                                                                                                                              
      of Non-GAAP Measures                                                                                                                                                                
                                                                                                                                                                                          
              Reconciliation of Operating Cash Flow to                                                                                                                                    
      Operating Cash Flow, excluding Currency                                                                                                                                             
                                                                                                                                                                                          
              For the Years Ended                                                                                                                                                         
      December 31,                                                                                                                                                                        
                                                                                                                                                                                          
              ($ in millions)                                                                                                                                                             
                                                                                                                                                                                          
              (Unaudited)                                                                                                                                                                 
                                                                                                                                                                                          
                                                                                                                                                                                          
                                                                                                                                                                                          
                                                        For the Quarters Ended                                            For the Years Ended                                             
                                                                                                                                                                                          
                                                                     December 31,                                                      December 31,                                       
                                                        2017                     2016                   % Change          2017                     2016                   % Change        
                                                                                                                                                                                          
 Net cash provided by operating activities (1)          $     2,921              $     2,149            35.9   %          $     8,912              $     8,077            10.3    %       
                                                                                                                                                                                          
 Less:                                                                                                                                                                                    
 Currency impact                                        194                                             

- More to follow, for following part double click  ID:nBw5Dr1Myh