Philip Morris International Inc. (PM)

PM Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	8,232	7,057	7,813	9,048	9,109	8,056
Depreciation & Amortization	1,945	1,787	1,398	1,077	998	981
Loss (Gain) From Sale of Assets	206	206	-	-	-	-
Asset Writedown & Restructuring Costs	266	149	710	19	-22	-14
Loss (Gain) From Sale of Investments	2,316	2,316	-	-	-	-
Other Operating Activities	-39	25	583	497	515	661
Change in Accounts Receivable	-540	-738	314	-871	-198	26
Change in Inventory	-914	552	-862	-1,287	549	-165
Change in Accounts Payable	281	297	-288	719	653	406
Change in Income Taxes	-344	-62	-232	-261	-260	-260
Change in Other Net Operating Assets	-1,003	628	-232	1,862	623	121
Operating Cash Flow	10,406	12,217	9,204	10,803	11,967	9,812
Operating Cash Flow Growth	-10.22%	32.74%	-14.80%	-9.73%	21.96%	-2.76%
Capital Expenditures	-1,417	-1,444	-1,321	-1,077	-748	-602
Cash Acquisitions	-1	43	-1,775	-14,978	-2,111	-
Divestitures	168	136	191	-	-	-
Investment in Securities	-46	-124	-111	-20	-34	-47
Other Investing Activities	-2,016	297	-582	396	535	-505
Investing Cash Flow	-3,312	-1,092	-3,598	-15,679	-2,358	-1,154
Short-Term Debt Issued	-	100	1,896	15,730	-	45
Long-Term Debt Issued	-	8,142	9,959	5,965	-	3,713
Total Debt Issued	9,008	8,242	11,855	21,695	-	3,758
Short-Term Debt Repaid	-	-5,062	-5,602	-4,795	-	-115
Long-Term Debt Repaid	-	-4,803	-2,551	-2,724	-3,042	-3,999
Total Debt Repaid	-7,793	-9,865	-8,153	-7,519	-3,042	-4,114
Net Debt Issued (Repaid)	1,215	-1,623	3,702	14,176	-3,042	-356
Repurchase of Common Stock	-	-	-	-209	-775	-
Common Dividends Paid	-8,355	-8,197	-7,964	-7,812	-7,580	-7,364
Other Financing Activities	-834	339	-1,320	-2,349	-580	-776
Financing Cash Flow	-7,974	-9,481	-5,582	3,806	-11,977	-8,496
Foreign Exchange Rate Adjustments	180	-536	-95	-213	-417	258
Net Cash Flow	-700	1,108	-71	-1,283	-2,785	420
Free Cash Flow	8,989	10,773	7,883	9,726	11,219	9,210
Free Cash Flow Growth	-11.19%	36.66%	-18.95%	-13.31%	21.81%	-0.30%
Free Cash Flow Margin	23.01%	28.44%	22.41%	30.62%	35.72%	32.10%
Free Cash Flow Per Share	5.77	6.92	5.08	6.27	7.20	5.91
Cash Interest Paid	1,559	1,559	1,342	717	716	728
Cash Income Tax Paid	3,178	3,178	2,952	2,751	2,936	2,785
Levered Free Cash Flow	7,829	8,185	7,915	7,360	9,146	8,664
Unlevered Free Cash Flow	8,913	9,286	8,869	7,840	9,607	9,119
Change in Working Capital	-2,520	677	-1,300	162	1,367	128

Updated Jul 22, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q