Stock Analysis on Net

Philip Morris International Inc. (NYSE:PM)

Cash Flow Statement
Quarterly Data

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Philip Morris International Inc., consolidated cash flow statement (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Net earnings 3,215 2,528 2,246 2,313 2,171 1,682 2,102 2,494 2,222 2,346 2,465 2,229 2,588 2,298 2,595 2,119 2,437 2,049 1,987 1,782 2,046 2,436 1,464
Depreciation and amortization expense 498 445 367 369 429 301 299 291 358 287 253 279 235 239 245 272 239 229 241 255 237 232 240
Impairment of goodwill and other intangibles 27 680
Impairment related to Vectura Group’s expected sale 198
Deferred income tax provision (benefit) (39) (17) 76 (364) 245 (115) (96) (88) (58) (87) (1) 1 (20) (31) 33 44 (93) (70) (24) (17) 1 (31) (94)
Asset impairment and exit costs, net of cash paid (2) (12) 148 (5) (50) (17) 102 (14) (32) (19) (28) 12 (8) 10 (36) 30 (42) 46 (48) 329 7 18 17
Receivables, net (9) (88) (890) 581 25 (537) 245 92 (336) (74) (553) 156 273 (200) (427) 167 197 (454) 116 175 267 (777) 4
Inventories 218 520 527 (681) (107) 709 (783) (2,080) (74) 1,099 (232) (686) 468 462 305 (988) 843 555 (575) (484) (450) 149 237
Accounts payable (116) 36 (181) 335 (209) (269) (145) 444 101 160 14 488 181 51 (67) 428 142 (99) (65) 482 70 (94) (7)
Accrued liabilities and other current assets (302) 1,456 (1,797) 690 681 1,102 (2,705) 2,188 543 (34) (835) 1,643 (80) 1,168 (2,108) 1,147 (246) (118) (662) 816 (250) 1,397 (855)
Income taxes 88 (250) (79) (31) 308 (421) (88) (71) 234 (331) (93) 4 195 (368) (91) (79) 52 (179) (54) 81 95 150 (251)
Cash effects of changes, net of the effects from acquired companies (121) 1,674 (2,420) 894 698 584 (3,476) 573 468 820 (1,699) 1,605 1,037 1,113 (2,388) 675 988 (295) (1,240) 1,070 (268) 825 (872)
Pension plan contributions (26) (21) (34) 75 (24) (27) (45) (35) (25) 97 (34) (50) (22) (167) (30) (40) (10) (29) (23) (111) (18) (54) (17)
Other (381) 35 (169) 20 (54) 354 159 (128) 135 80 162 (44) 60 168 16 62 95 (5) 218 16 78 16 503
Adjustments to reconcile net earnings to operating cash flows 127 2,104 (2,005) 989 1,244 1,760 (3,057) 599 846 1,178 (1,347) 1,803 1,282 1,332 (2,160) 1,043 1,177 (124) (876) 1,542 37 1,006 (223)
Net cash provided by (used in) operating activities 3,342 4,632 241 3,302 3,415 3,442 (955) 3,093 3,068 3,524 1,118 4,032 3,870 3,630 435 3,162 3,614 1,925 1,111 3,324 2,083 3,442 1,241
Capital expenditures (379) (370) (417) (311) (371) (360) (279) (347) (252) (249) (229) (289) (152) (128) (179) (140) (152) (140) (170) (156) (194) (178) (324)
Acquisition of Swedish Match AB, net of acquired cash (13,976)
Other acquisitions, net of acquired cash 44 (242) (1,842) (27)
Altria Group, Inc. agreement (1,775) (1,002)
Equity investments (11) (93) (20) (20) (83) (8) (20) (8) (26) (44) (1) (2) (3) (4) (24)
Deconsolidation of RBH (1,346)
Collateral posted/settlements for derivatives, (paid) returned (598) 129 310 (550) 232 (178) (164) (350) 120 393 121 188 131 (52) 199 (413) (312) (510) 684 (43) 313 25 91
Other (15) (47) (66) 293 (22) 138 (140) 147 36 (3) (68) 11 (1) 24 35 11 30 3 2 15 6 4 7
Net cash (used in) provided by investing activities (1,003) (337) (193) (568) (1,956) (483) (591) (15,528) (96) 141 (196) (340) (1,890) (183) 55 (586) (434) (648) 514 (184) 122 (153) (1,596)
Short-term borrowing, net issuances (repayments), maturities of 90 days or less 11 12 (1,475) 174 (2,000) (1,005) 3,361 (1,743) 2,054 (1,351) 1,916 18 90 (59) (49) 89 (84) (1,172) 1,097 (24) 89 (262) (167)
Short-term borrowing, issuances, maturities longer than 90 days 100 257 397 354 358 139 490 305 20 25 989
Short-term borrowing, repayments, maturities longer than 90 days (149) (284) (618) (374) (42) (138) (780) (15) (45) (989)
Borrowings under credit facilities related to Swedish Match AB acquisition 13,920
Repayments under credit facilities related to Swedish Match AB acquisition (4,430) (4,000)
Long-term debt proceeds 535 4,659 2,307 2,449 5,203 5,965 1,483 2,230 2,191 1,628
Long-term debt repaid (569) (1,812) (517) (1,352) (682) (745) (1,482) (1) (496) (1,063) (347) (1,632) (358) (3,641) (1,027) (834) (2,137)
Repurchases of common stock (209) (681) (94)
Dividends paid (2,027) (2,027) (2,037) (2,023) (1,977) (1,977) (1,987) (1,973) (1,942) (1,945) (1,952) (1,952) (1,876) (1,873) (1,879) (1,879) (1,827) (1,830) (1,828) (1,825) (1,779) (1,777) (1,780)
Collateral received/settlements for derivatives, received (returned) (328) 90 260
Payments to acquire Swedish Match AB noncontrolling interests (883) (1,495)
Noncontrolling interests activity and Other (68) (181) (88) (170) (118) (211) 62 (191) (121) (277) (265) (123) (173) (195) (89) (158) (214) (202) (202) (83) (48) (170) (56)
Net cash provided by (used in) financing activities (2,981) (3,532) 1,135 (2,897) (1,765) (1,784) 864 9,877 (2,271) (3,099) (701) (3,801) (2,053) (2,474) (3,649) (465) (2,528) (954) (4,549) (2,959) 453 (2,404) (3,151)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 67 14 (230) 275 (172) (109) (89) 401 (370) (149) (95) (191) (47) 41 (220) 347 (32) 134 (191) 173 (160) 42 (28)
Cash, cash equivalents and restricted cash, increase (decrease) (575) 777 953 112 (478) 1,066 (771) (2,157) 331 417 126 (300) (120) 1,014 (3,379) 2,458 620 457 (3,115) 354 2,498 927 (3,534)

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Cash flow statement item Description The company
Net cash provided by (used in) operating activities Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Philip Morris International Inc. net cash provided by (used in) operating activities increased from Q1 2024 to Q2 2024 but then slightly decreased from Q2 2024 to Q3 2024.
Net cash (used in) provided by investing activities Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Philip Morris International Inc. net cash (used in) provided by investing activities decreased from Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
Net cash provided by (used in) financing activities Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Philip Morris International Inc. net cash provided by (used in) financing activities decreased from Q1 2024 to Q2 2024 but then slightly increased from Q2 2024 to Q3 2024.