Analysis of Geographic Areas
Philip Morris International Inc. operates in 6 regions: Europe Region; South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA); East Asia, Australia, and PMI Duty Free Region (EA, AU & PMI DF); Americas Region; Swedish Match; and Wellness and Healthcare.
Area Profit Margin
Philip Morris International Inc., profit margin by geographic area
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Europe Region | 44.21% | 45.09% | 48.72% | — | — |
| South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA) | 28.67% | 36.92% | 33.42% | — | — |
| East Asia, Australia, and PMI Duty Free Region (EA, AU & PMI DF) | 40.01% | 40.84% | 43.98% | — | — |
| Americas Region | 3.19% | 22.91% | 26.42% | — | — |
| Swedish Match | 33.01% | -6.96% | — | — | — |
| Wellness and Healthcare | -284.31% | -95.20% | -51.49% | — | — |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
| Area profitability ratio | Geographic area | The company |
|---|---|---|
| Area profit margin | Europe Region | Europe Region area profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
| South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA) | South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA) area profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. | |
| East Asia, Australia, and PMI Duty Free Region (EA, AU & PMI DF) | East Asia, Australia, and PMI Duty Free Region (EA, AU & PMI DF) area profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. | |
| Americas Region | Americas Region area profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. | |
| Swedish Match | Swedish Match area profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. | |
| Wellness and Healthcare | Wellness and Healthcare area profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Area Profit Margin: Europe Region
Philip Morris International Inc.; Europe Region; area profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income (loss) | 6,012) | 5,802) | 6,409) | —) | —) |
| Net revenues | 13,598) | 12,869) | 13,155) | —) | —) |
| Area Profitability Ratio | |||||
| Area profit margin1 | 44.21% | 45.09% | 48.72% | — | — |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Area profit margin = 100 × Operating income (loss) ÷ Net revenues
= 100 × 6,012 ÷ 13,598 = 44.21%
| Area profitability ratio | Geographic area | The company |
|---|---|---|
| Area profit margin | Europe Region | Europe Region area profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Area Profit Margin: South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA)
Philip Morris International Inc.; South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA); area profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income (loss) | 3,047) | 3,864) | 3,295) | —) | —) |
| Net revenues | 10,629) | 10,467) | 9,858) | —) | —) |
| Area Profitability Ratio | |||||
| Area profit margin1 | 28.67% | 36.92% | 33.42% | — | — |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Area profit margin = 100 × Operating income (loss) ÷ Net revenues
= 100 × 3,047 ÷ 10,629 = 28.67%
| Area profitability ratio | Geographic area | The company |
|---|---|---|
| Area profit margin | South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA) | South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA) area profit margin ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Area Profit Margin: East Asia, Australia, and PMI Duty Free Region (EA, AU & PMI DF)
Philip Morris International Inc.; East Asia, Australia, and PMI Duty Free Region (EA, AU & PMI DF); area profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income (loss) | 2,481) | 2,424) | 2,836) | —) | —) |
| Net revenues | 6,201) | 5,936) | 6,448) | —) | —) |
| Area Profitability Ratio | |||||
| Area profit margin1 | 40.01% | 40.84% | 43.98% | — | — |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Area profit margin = 100 × Operating income (loss) ÷ Net revenues
= 100 × 2,481 ÷ 6,201 = 40.01%
| Area profitability ratio | Geographic area | The company |
|---|---|---|
| Area profit margin | East Asia, Australia, and PMI Duty Free Region (EA, AU & PMI DF) | East Asia, Australia, and PMI Duty Free Region (EA, AU & PMI DF) area profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Area Profit Margin: Americas Region
Philip Morris International Inc.; Americas Region; area profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income (loss) | 62) | 436) | 487) | —) | —) |
| Net revenues | 1,944) | 1,903) | 1,843) | —) | —) |
| Area Profitability Ratio | |||||
| Area profit margin1 | 3.19% | 22.91% | 26.42% | — | — |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Area profit margin = 100 × Operating income (loss) ÷ Net revenues
= 100 × 62 ÷ 1,944 = 3.19%
| Area profitability ratio | Geographic area | The company |
|---|---|---|
| Area profit margin | Americas Region | Americas Region area profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Area Profit Margin: Swedish Match
Philip Morris International Inc.; Swedish Match; area profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income (loss) | 824) | (22) | —) | —) | —) |
| Net revenues | 2,496) | 316) | —) | —) | —) |
| Area Profitability Ratio | |||||
| Area profit margin1 | 33.01% | -6.96% | — | — | — |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Area profit margin = 100 × Operating income (loss) ÷ Net revenues
= 100 × 824 ÷ 2,496 = 33.01%
| Area profitability ratio | Geographic area | The company |
|---|---|---|
| Area profit margin | Swedish Match | Swedish Match area profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
Area Profit Margin: Wellness and Healthcare
Philip Morris International Inc.; Wellness and Healthcare; area profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income (loss) | (870) | (258) | (52) | —) | —) |
| Net revenues | 306) | 271) | 101) | —) | —) |
| Area Profitability Ratio | |||||
| Area profit margin1 | -284.31% | -95.20% | -51.49% | — | — |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Area profit margin = 100 × Operating income (loss) ÷ Net revenues
= 100 × -870 ÷ 306 = -284.31%
| Area profitability ratio | Geographic area | The company |
|---|---|---|
| Area profit margin | Wellness and Healthcare | Wellness and Healthcare area profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Area Return on Assets (Area ROA)
Philip Morris International Inc., ROA by geographic area
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Europe Region | 105.53% | 112.03% | 130.32% | — | — |
| South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA) | 138.69% | 188.76% | 151.08% | — | — |
| East Asia, Australia, and PMI Duty Free Region (EA, AU & PMI DF) | 515.80% | 359.11% | 382.21% | — | — |
| Americas Region | 4.73% | 34.01% | 73.12% | — | — |
| Swedish Match | — | — | — | — | — |
| Wellness and Healthcare | — | — | — | — | — |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
| Area profitability ratio | Geographic area | The company |
|---|---|---|
| Area ROA | Europe Region | Europe Region area ROA deteriorated from 2021 to 2022 and from 2022 to 2023. |
| South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA) | South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA) area ROA improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. | |
| East Asia, Australia, and PMI Duty Free Region (EA, AU & PMI DF) | East Asia, Australia, and PMI Duty Free Region (EA, AU & PMI DF) area ROA deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. | |
| Americas Region | Americas Region area ROA deteriorated from 2021 to 2022 and from 2022 to 2023. | |
| Swedish Match | ||
| Wellness and Healthcare |
Area ROA: Europe Region
Philip Morris International Inc.; Europe Region; area ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income (loss) | 6,012) | 5,802) | 6,409) | —) | —) |
| Long-lived assets | 5,697) | 5,179) | 4,918) | —) | —) |
| Area Profitability Ratio | |||||
| Area ROA1 | 105.53% | 112.03% | 130.32% | — | — |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Area ROA = 100 × Operating income (loss) ÷ Long-lived assets
= 100 × 6,012 ÷ 5,697 = 105.53%
| Area profitability ratio | Geographic area | The company |
|---|---|---|
| Area ROA | Europe Region | Europe Region area ROA deteriorated from 2021 to 2022 and from 2022 to 2023. |
Area ROA: South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA)
Philip Morris International Inc.; South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA); area ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income (loss) | 3,047) | 3,864) | 3,295) | —) | —) |
| Long-lived assets | 2,197) | 2,047) | 2,181) | —) | —) |
| Area Profitability Ratio | |||||
| Area ROA1 | 138.69% | 188.76% | 151.08% | — | — |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Area ROA = 100 × Operating income (loss) ÷ Long-lived assets
= 100 × 3,047 ÷ 2,197 = 138.69%
| Area profitability ratio | Geographic area | The company |
|---|---|---|
| Area ROA | South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA) | South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA) area ROA improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Area ROA: East Asia, Australia, and PMI Duty Free Region (EA, AU & PMI DF)
Philip Morris International Inc.; East Asia, Australia, and PMI Duty Free Region (EA, AU & PMI DF); area ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income (loss) | 2,481) | 2,424) | 2,836) | —) | —) |
| Long-lived assets | 481) | 675) | 742) | —) | —) |
| Area Profitability Ratio | |||||
| Area ROA1 | 515.80% | 359.11% | 382.21% | — | — |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Area ROA = 100 × Operating income (loss) ÷ Long-lived assets
= 100 × 2,481 ÷ 481 = 515.80%
| Area profitability ratio | Geographic area | The company |
|---|---|---|
| Area ROA | East Asia, Australia, and PMI Duty Free Region (EA, AU & PMI DF) | East Asia, Australia, and PMI Duty Free Region (EA, AU & PMI DF) area ROA deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Area ROA: Americas Region
Philip Morris International Inc.; Americas Region; area ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income (loss) | 62) | 436) | 487) | —) | —) |
| Long-lived assets | 1,310) | 1,282) | 666) | —) | —) |
| Area Profitability Ratio | |||||
| Area ROA1 | 4.73% | 34.01% | 73.12% | — | — |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Area ROA = 100 × Operating income (loss) ÷ Long-lived assets
= 100 × 62 ÷ 1,310 = 4.73%
| Area profitability ratio | Geographic area | The company |
|---|---|---|
| Area ROA | Americas Region | Americas Region area ROA deteriorated from 2021 to 2022 and from 2022 to 2023. |
Area ROA: Swedish Match
Philip Morris International Inc.; Swedish Match; area ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income (loss) | 824) | (22) | —) | —) | —) |
| Long-lived assets | —) | —) | —) | —) | —) |
| Area Profitability Ratio | |||||
| Area ROA1 | — | — | — | — | — |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Area ROA = 100 × Operating income (loss) ÷ Long-lived assets
= 100 × 824 ÷ 0 = —
| Area profitability ratio | Geographic area | The company |
|---|---|---|
| Area ROA | Swedish Match |
Area ROA: Wellness and Healthcare
Philip Morris International Inc.; Wellness and Healthcare; area ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Operating income (loss) | (870) | (258) | (52) | —) | —) |
| Long-lived assets | —) | —) | —) | —) | —) |
| Area Profitability Ratio | |||||
| Area ROA1 | — | — | — | — | — |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Area ROA = 100 × Operating income (loss) ÷ Long-lived assets
= 100 × -870 ÷ 0 = —
| Area profitability ratio | Geographic area | The company |
|---|---|---|
| Area ROA | Wellness and Healthcare |
Area Asset Turnover
Philip Morris International Inc., asset turnover by geographic area
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Europe Region | 2.39 | 2.48 | 2.67 | — | — |
| South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA) | 4.84 | 5.11 | 4.52 | — | — |
| East Asia, Australia, and PMI Duty Free Region (EA, AU & PMI DF) | 12.89 | 8.79 | 8.69 | — | — |
| Americas Region | 1.48 | 1.48 | 2.77 | — | — |
| Swedish Match | — | — | — | — | — |
| Wellness and Healthcare | — | — | — | — | — |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
| Area activity ratio | Geographic area | The company |
|---|---|---|
| Area asset turnover | Europe Region | Europe Region area asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
| South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA) | South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA) area asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. | |
| East Asia, Australia, and PMI Duty Free Region (EA, AU & PMI DF) | East Asia, Australia, and PMI Duty Free Region (EA, AU & PMI DF) area asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. | |
| Americas Region | Americas Region area asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. | |
| Swedish Match | ||
| Wellness and Healthcare |
Area Asset Turnover: Europe Region
Philip Morris International Inc.; Europe Region; area asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net revenues | 13,598) | 12,869) | 13,155) | —) | —) |
| Long-lived assets | 5,697) | 5,179) | 4,918) | —) | —) |
| Area Activity Ratio | |||||
| Area asset turnover1 | 2.39 | 2.48 | 2.67 | — | — |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Area asset turnover = Net revenues ÷ Long-lived assets
= 13,598 ÷ 5,697 = 2.39
| Area activity ratio | Geographic area | The company |
|---|---|---|
| Area asset turnover | Europe Region | Europe Region area asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Area Asset Turnover: South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA)
Philip Morris International Inc.; South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA); area asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net revenues | 10,629) | 10,467) | 9,858) | —) | —) |
| Long-lived assets | 2,197) | 2,047) | 2,181) | —) | —) |
| Area Activity Ratio | |||||
| Area asset turnover1 | 4.84 | 5.11 | 4.52 | — | — |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Area asset turnover = Net revenues ÷ Long-lived assets
= 10,629 ÷ 2,197 = 4.84
| Area activity ratio | Geographic area | The company |
|---|---|---|
| Area asset turnover | South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA) | South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA) area asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Area Asset Turnover: East Asia, Australia, and PMI Duty Free Region (EA, AU & PMI DF)
Philip Morris International Inc.; East Asia, Australia, and PMI Duty Free Region (EA, AU & PMI DF); area asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net revenues | 6,201) | 5,936) | 6,448) | —) | —) |
| Long-lived assets | 481) | 675) | 742) | —) | —) |
| Area Activity Ratio | |||||
| Area asset turnover1 | 12.89 | 8.79 | 8.69 | — | — |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Area asset turnover = Net revenues ÷ Long-lived assets
= 6,201 ÷ 481 = 12.89
| Area activity ratio | Geographic area | The company |
|---|---|---|
| Area asset turnover | East Asia, Australia, and PMI Duty Free Region (EA, AU & PMI DF) | East Asia, Australia, and PMI Duty Free Region (EA, AU & PMI DF) area asset turnover ratio improved from 2021 to 2022 and from 2022 to 2023. |
Area Asset Turnover: Americas Region
Philip Morris International Inc.; Americas Region; area asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net revenues | 1,944) | 1,903) | 1,843) | —) | —) |
| Long-lived assets | 1,310) | 1,282) | 666) | —) | —) |
| Area Activity Ratio | |||||
| Area asset turnover1 | 1.48 | 1.48 | 2.77 | — | — |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Area asset turnover = Net revenues ÷ Long-lived assets
= 1,944 ÷ 1,310 = 1.48
| Area activity ratio | Geographic area | The company |
|---|---|---|
| Area asset turnover | Americas Region | Americas Region area asset turnover ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Area Asset Turnover: Swedish Match
Philip Morris International Inc.; Swedish Match; area asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net revenues | 2,496) | 316) | —) | —) | —) |
| Long-lived assets | —) | —) | —) | —) | —) |
| Area Activity Ratio | |||||
| Area asset turnover1 | — | — | — | — | — |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Area asset turnover = Net revenues ÷ Long-lived assets
= 2,496 ÷ 0 = —
| Area activity ratio | Geographic area | The company |
|---|---|---|
| Area asset turnover | Swedish Match |
Area Asset Turnover: Wellness and Healthcare
Philip Morris International Inc.; Wellness and Healthcare; area asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net revenues | 306) | 271) | 101) | —) | —) |
| Long-lived assets | —) | —) | —) | —) | —) |
| Area Activity Ratio | |||||
| Area asset turnover1 | — | — | — | — | — |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Area asset turnover = Net revenues ÷ Long-lived assets
= 306 ÷ 0 = —
| Area activity ratio | Geographic area | The company |
|---|---|---|
| Area asset turnover | Wellness and Healthcare |
Area Capital Expenditures to Depreciation
Philip Morris International Inc., capital expenditures to depreciation by geographic area
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Europe Region | 2.34 | 1.70 | 1.30 | — | — |
| South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA) | 0.93 | 0.76 | 0.42 | — | — |
| East Asia, Australia, and PMI Duty Free Region (EA, AU & PMI DF) | 0.26 | 0.15 | 0.21 | — | — |
| Americas Region | 0.74 | 1.24 | 0.76 | — | — |
| Swedish Match | 0.28 | 0.44 | — | — | — |
| Wellness and Healthcare | 0.40 | 0.53 | 0.82 | — | — |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
| Area financial ratio | Geographic area | The company |
|---|---|---|
| Area capital expenditures to depreciation | Europe Region | Europe Region area capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023. |
| South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA) | South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA) area capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023. | |
| East Asia, Australia, and PMI Duty Free Region (EA, AU & PMI DF) | East Asia, Australia, and PMI Duty Free Region (EA, AU & PMI DF) area capital expenditures to depreciation ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. | |
| Americas Region | Americas Region area capital expenditures to depreciation ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. | |
| Swedish Match | Swedish Match area capital expenditures to depreciation ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. | |
| Wellness and Healthcare | Wellness and Healthcare area capital expenditures to depreciation ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Area Capital Expenditures to Depreciation: Europe Region
Philip Morris International Inc.; Europe Region; area capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 778) | 642) | 481) | —) | —) |
| Depreciation and amortization expense | 333) | 377) | 371) | —) | —) |
| Area Financial Ratio | |||||
| Area capital expenditures to depreciation1 | 2.34 | 1.70 | 1.30 | — | — |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Area capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization expense
= 778 ÷ 333 = 2.34
| Area financial ratio | Geographic area | The company |
|---|---|---|
| Area capital expenditures to depreciation | Europe Region | Europe Region area capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023. |
Area Capital Expenditures to Depreciation: South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA)
Philip Morris International Inc.; South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA); area capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 287) | 258) | 149) | —) | —) |
| Depreciation and amortization expense | 309) | 340) | 354) | —) | —) |
| Area Financial Ratio | |||||
| Area capital expenditures to depreciation1 | 0.93 | 0.76 | 0.42 | — | — |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Area capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization expense
= 287 ÷ 309 = 0.93
| Area financial ratio | Geographic area | The company |
|---|---|---|
| Area capital expenditures to depreciation | South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA) | South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA) area capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023. |
Area Capital Expenditures to Depreciation: East Asia, Australia, and PMI Duty Free Region (EA, AU & PMI DF)
Philip Morris International Inc.; East Asia, Australia, and PMI Duty Free Region (EA, AU & PMI DF); area capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 38) | 25) | 36) | —) | —) |
| Depreciation and amortization expense | 148) | 167) | 168) | —) | —) |
| Area Financial Ratio | |||||
| Area capital expenditures to depreciation1 | 0.26 | 0.15 | 0.21 | — | — |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Area capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization expense
= 38 ÷ 148 = 0.26
| Area financial ratio | Geographic area | The company |
|---|---|---|
| Area capital expenditures to depreciation | East Asia, Australia, and PMI Duty Free Region (EA, AU & PMI DF) | East Asia, Australia, and PMI Duty Free Region (EA, AU & PMI DF) area capital expenditures to depreciation ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Area Capital Expenditures to Depreciation: Americas Region
Philip Morris International Inc.; Americas Region; area capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 57) | 92) | 54) | —) | —) |
| Depreciation and amortization expense | 77) | 74) | 71) | —) | —) |
| Area Financial Ratio | |||||
| Area capital expenditures to depreciation1 | 0.74 | 1.24 | 0.76 | — | — |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Area capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization expense
= 57 ÷ 77 = 0.74
| Area financial ratio | Geographic area | The company |
|---|---|---|
| Area capital expenditures to depreciation | Americas Region | Americas Region area capital expenditures to depreciation ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Area Capital Expenditures to Depreciation: Swedish Match
Philip Morris International Inc.; Swedish Match; area capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 127) | 15) | —) | —) | —) |
| Depreciation and amortization expense | 447) | 34) | —) | —) | —) |
| Area Financial Ratio | |||||
| Area capital expenditures to depreciation1 | 0.28 | 0.44 | — | — | — |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Area capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization expense
= 127 ÷ 447 = 0.28
| Area financial ratio | Geographic area | The company |
|---|---|---|
| Area capital expenditures to depreciation | Swedish Match | Swedish Match area capital expenditures to depreciation ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Area Capital Expenditures to Depreciation: Wellness and Healthcare
Philip Morris International Inc.; Wellness and Healthcare; area capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Capital expenditures | 34) | 45) | 28) | —) | —) |
| Depreciation and amortization expense | 84) | 85) | 34) | —) | —) |
| Area Financial Ratio | |||||
| Area capital expenditures to depreciation1 | 0.40 | 0.53 | 0.82 | — | — |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Area capital expenditures to depreciation = Capital expenditures ÷ Depreciation and amortization expense
= 34 ÷ 84 = 0.40
| Area financial ratio | Geographic area | The company |
|---|---|---|
| Area capital expenditures to depreciation | Wellness and Healthcare | Wellness and Healthcare area capital expenditures to depreciation ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Net revenues
Philip Morris International Inc., net revenues by geographic area
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Europe Region | 13,598) | 12,869) | 13,155) | —) | —) |
| South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA) | 10,629) | 10,467) | 9,858) | —) | —) |
| East Asia, Australia, and PMI Duty Free Region (EA, AU & PMI DF) | 6,201) | 5,936) | 6,448) | —) | —) |
| Americas Region | 1,944) | 1,903) | 1,843) | —) | —) |
| Swedish Match | 2,496) | 316) | —) | —) | —) |
| Wellness and Healthcare | 306) | 271) | 101) | —) | —) |
| Total | 35,174) | 31,762) | 31,405) | —) | —) |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Operating income (loss)
Philip Morris International Inc., operating income (loss) by geographic area
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Europe Region | 6,012) | 5,802) | 6,409) | —) | —) |
| South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA) | 3,047) | 3,864) | 3,295) | —) | —) |
| East Asia, Australia, and PMI Duty Free Region (EA, AU & PMI DF) | 2,481) | 2,424) | 2,836) | —) | —) |
| Americas Region | 62) | 436) | 487) | —) | —) |
| Swedish Match | 824) | (22) | —) | —) | —) |
| Wellness and Healthcare | (870) | (258) | (52) | —) | —) |
| Total | 11,556) | 12,246) | 12,975) | —) | —) |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Depreciation and amortization expense
Philip Morris International Inc., depreciation and amortization expense by geographic area
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Europe Region | 333) | 377) | 371) | —) | —) |
| South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA) | 309) | 340) | 354) | —) | —) |
| East Asia, Australia, and PMI Duty Free Region (EA, AU & PMI DF) | 148) | 167) | 168) | —) | —) |
| Americas Region | 77) | 74) | 71) | —) | —) |
| Swedish Match | 447) | 34) | —) | —) | —) |
| Wellness and Healthcare | 84) | 85) | 34) | —) | —) |
| Total | 1,398) | 1,077) | 998) | —) | —) |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Capital expenditures
Philip Morris International Inc., capital expenditures by geographic area
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Europe Region | 778) | 642) | 481) | —) | —) |
| South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA) | 287) | 258) | 149) | —) | —) |
| East Asia, Australia, and PMI Duty Free Region (EA, AU & PMI DF) | 38) | 25) | 36) | —) | —) |
| Americas Region | 57) | 92) | 54) | —) | —) |
| Swedish Match | 127) | 15) | —) | —) | —) |
| Wellness and Healthcare | 34) | 45) | 28) | —) | —) |
| Total | 1,321) | 1,077) | 748) | —) | —) |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
Long-lived assets
Philip Morris International Inc., long-lived assets by geographic area
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Europe Region | 5,697) | 5,179) | 4,918) | —) | —) |
| South and Southeast Asia, Commonwealth of Independent States, Middle East and Africa Region (SSEA, CIS & MEA) | 2,197) | 2,047) | 2,181) | —) | —) |
| East Asia, Australia, and PMI Duty Free Region (EA, AU & PMI DF) | 481) | 675) | 742) | —) | —) |
| Americas Region | 1,310) | 1,282) | 666) | —) | —) |
| Swedish Match | —) | —) | —) | —) | —) |
| Wellness and Healthcare | —) | —) | —) | —) | —) |
| Total | 9,685) | 9,183) | 8,507) | —) | —) |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).