Philip Morris International Inc. (PM) FY2026 Q1 Statement of Cash Flows
2026-01-01 to 2026-03-31
Statement of Cash Flows
2026-01-01 to 2026-03-31
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Chart details
Philip Morris International Inc. cash flow reconciliation, Jan 1, 2026 through Mar 31, 2026
Cash flows for Jan 1, 2026 through Mar 31, 2026. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 31, 2025. Ending cash: Mar 31, 2026. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.
- Beginning cash on Dec 31, 2025
- 4,892,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
- Operating activities
- negative 399,000,000 US dollars. Net cash used.
- Inventories
- negative 11,000,000 US dollars
- Accrued liabilities and other current assets
- negative 2,734,000,000 US dollars
- Receivables, net
- negative 640,000,000 US dollars
- Deferred income tax (benefit) provision
- negative 67,000,000 US dollars
- Net earnings
- 2,582,000,000 US dollars
- Other
- 482,000,000 US dollars
- Depreciation and amortization expense
- 510,000,000 US dollars
- Accounts payable
- negative 317,000,000 US dollars
- Income taxes
- negative 171,000,000 US dollars
- Restructuring charges, net of cash paid (Note 15)
- negative 3,000,000 US dollars
- Pension plan contributions (Note 4)
- negative 30,000,000 US dollars
- Investing activities
- negative 3,000,000 US dollars. Net cash used.
- Capital expenditures
- negative 353,000,000 US dollars
- Purchases of debt securities
- negative 5,000,000 US dollars
- Sales and maturities of debt securities
- 95,000,000 US dollars
- Equity investments
- negative 35,000,000 US dollars
- Collateral posted/settlements for derivatives, (paid)/returned (Note 6)
- 314,000,000 US dollars
- Other
- negative 19,000,000 US dollars
- Financing activities
- 1,096,000,000 US dollars. Net cash provided.
- Dividends paid
- negative 2,307,000,000 US dollars
- Collateral received/settlements for derivatives, received/(returned)
- 138,000,000 US dollars
- Issuances - maturities longer than 90 days
- 993,000,000 US dollars
- Repayments - maturities longer than 90 days
- 0 US dollars
- Noncontrolling interests activity and Other
- negative 116,000,000 US dollars
- Long-term debt repaid
- negative 2,142,000,000 US dollars
- Net issuances (repayments) - maturities of 90 days or less
- 4,530,000,000 US dollars
- Long-term debt proceeds
- 0 US dollars
- Operating adjustment reconciliation
- 3,973,000,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
- financing gross reconciliation
- 5,661,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
- investing gross reconciliation
- 412,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
- Exchange-rate effect
- negative 116,000,000 US dollars
- Ending cash on Mar 31, 2026
- 5,470,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
- Cash sources and uses
- 5,988,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
- Net cash change
- 578,000,000 US dollars. Ending cash minus beginning cash.
- Cash flow / Net income
- −0.15×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
- Operating cash flow
- negative 399,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
- Cash purchases of property, plant and equipment
- 353,000,000 US dollars. These cash purchases are already included in investing activities above.
- Free cash flow
- negative 752,000,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.
Chart connections
- Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
- Financing contributions meet at a reconciliation junction before connecting to the net cash total.
- Investing contributions meet at a reconciliation junction before connecting to the net cash total.
- Operating reconciliation adjustments are not all independent cash receipts.
- Net income or operating cash is negative. The full signed reconciliation is retained: losses remain deductions, and any negative operating-cash total enters the junction from the cash pool. No positive direct-income connection is implied.
- Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
- The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
- Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: negative 399,000,000 US dollars minus 353,000,000 US dollars equals negative 752,000,000 US dollars.
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