AI English summary of an SEC filing — figures as filed
Philip Morris International PMThe company said net revenues for the fiscal year ended December 31, 2023 were $35.2 billion, up $3.4 billion, or 10.7%, from 2022. Net revenues excluding currency and acquisitions rose 7.6%.
Key points
AI summaryThe company said net revenues for the fiscal year ended December 31, 2023 were $35.2 billion, up $3.4 billion, or 10.7%, from 2022. Net revenues excluding currency and acquisitions rose 7.6%.
The company recorded a non-cash impairment charge of $680 million (a $0.44 decrease in diluted EPS) for the Wellness and Healthcare reporting unit in 2023 and a non-cash pre-tax charge of $204 million related to South Korea. It also said it paid $140 million to terminate the Foundation agreement.
The company said its total debt was $47.9 billion as of December 31, 2023 and $43.1 billion as of December 31, 2022. The weighted-average all-in financing cost of its total debt was 3.3% in 2023, and its commercial paper outstanding as of December 31, 2023 was $1.7 billion.
PMI said it paid dividends of $8.0 billion in 2023. Its Board of Directors approved a 2.4% increase in the quarterly dividend to $1.30 per share ($5.20 annualized). The company said it did not repurchase shares in 2023 and does not expect to resume repurchases in 2024.
Key figures
Fiscal year ended December 31, 2023
- Revenue
- $35.2B
- Operating income
- $11.6B
- Net income
- $7.8B
- EPS
- $5.02
- Gross profit
- $22.3B
- Operating cash flow
- $9.2B
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
2023 Net Revenues $35.2 billion
The company said net revenues for the fiscal year ended December 31, 2023 were $35.2 billion, up $3.4 billion, or 10.7%, from 2022. Net revenues excluding currency and acquisitions rose 7.6%.
Source · Based on the MD&A text of the filing
2023 One-Time and Special Items
The company recorded a non-cash impairment charge of $680 million (a $0.44 decrease in diluted EPS) for the Wellness and Healthcare reporting unit in 2023 and a non-cash pre-tax charge of $204 million related to South Korea. It also said it paid $140 million to terminate the Foundation agreement.
Source · Based on the MD&A text of the filing
Total Debt and Liquidity Structure
The company said its total debt was $47.9 billion as of December 31, 2023 and $43.1 billion as of December 31, 2022. The weighted-average all-in financing cost of its total debt was 3.3% in 2023, and its commercial paper outstanding as of December 31, 2023 was $1.7 billion.
Source · Based on the MD&A text of the filing
Dividends and Share Repurchases
PMI said it paid dividends of $8.0 billion in 2023. Its Board of Directors approved a 2.4% increase in the quarterly dividend to $1.30 per share ($5.20 annualized). The company said it did not repurchase shares in 2023 and does not expect to resume repurchases in 2024.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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