Form 8-K - Current report

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 27, 2024

Philip Morris International Inc.

(Exact name of registrant as specified in its charter)

Virginia

1-33708

13-3435103

(State or other jurisdiction

of incorporation)

(Commission File Number)

(I.R.S. Employer

Identification No.)

677 Washington Blvd, Ste. 1100

Stamford

Connecticut

06901

(Address of principal executive offices)

(Zip Code)

Registrant's telephone number, including area code: (203) 905-2410

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, no par value

New York Stock Exchange

2.875% Notes due 2024

PM24

New York Stock Exchange

2.875% Notes due 2024

PM24C

New York Stock Exchange

0.625% Notes due 2024

PM24B

New York Stock Exchange

3.250% Notes due 2024

PM24A

New York Stock Exchange

2.750% Notes due 2025

PM25

New York Stock Exchange

3.375% Notes due 2025

PM25A

New York Stock Exchange

2.750% Notes due 2026

PM26A

New York Stock Exchange

2.875% Notes due 2026

PM26

New York Stock Exchange

0.125% Notes due 2026

PM26B

New York Stock Exchange

3.125% Notes due 2027

PM27

New York Stock Exchange

3.125% Notes due 2028

PM28

New York Stock Exchange

2.875% Notes due 2029

PM29

New York Stock Exchange

3.375% Notes due 2029

PM29A

New York Stock Exchange

0.800% Notes due 2031

PM31

New York Stock Exchange

3.125% Notes due 2033

PM33

New York Stock Exchange

2.000% Notes due 2036

PM36

New York Stock Exchange

1.875% Notes due 2037

PM37A

New York Stock Exchange

6.375% Notes due 2038

PM38

New York Stock Exchange

1.450% Notes due 2039

PM39

New York Stock Exchange

4.375% Notes due 2041

PM41

New York Stock Exchange

4.500% Notes due 2042

PM42

New York Stock Exchange

3.875% Notes due 2042

PM42A

New York Stock Exchange

4.125% Notes due 2043

PM43

New York Stock Exchange

4.875% Notes due 2043

PM43A

New York Stock Exchange

4.250% Notes due 2044

PM44

New York Stock Exchange


Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).


Emerging growth company			☐


If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.			☐


Item 7.01.			Regulation FD Disclosure.

As previously reported in the Annual Report on Form 10-K for the fiscal year ended December 31, 2023 (the “2023 Form 10-K”), filed with the U.S. Securities and Exchange Commission on February 8, 2024 by Philip Morris International Inc. (the “Company” or "PMI"), following the combination and the progress in 2023 toward the integration of the Swedish Match business into the existing PMI regional structure, the Company is updating its segment reporting by including its Swedish Match segment results into the four existing geographical segments, and that as of the first quarter of 2024, PMI will begin to report on this basis. The four existing geographical segments are as follows:

• The Europe Region;

• The South & Southeast Asia, Commonwealth of Independent States and Middle East & Africa Region (“SSEA, CIS & MEA");

• The East Asia, Australia & PMI Duty Free Region (“EA, AU & PMI DF”); and

• The Americas Region.

The Wellness and Healthcare segment will remain unaffected.

On February 27, 2024, the Company posted on its website certain recast historical shipment volume and financial information that reflects the change in reporting segments described above.

The unaudited recast historical information is being furnished solely to aid investors by providing supplemental information, has no impact on the Company's previously reported consolidated financial position or results of operations, and does not represent a restatement of the Company's previously issued consolidated financial statements that were included in the 2023 Form 10-K. The Company's 2023 and 2022 quarterly and annual recast shipment volume and financial information, previously presented in earnings releases for the same periods, as well as other financial information, is furnished herewith as Exhibit 99.1 and is incorporated in this Item 7.01 by reference. The Company's 2022 and 2021 recast shipment volume and financial information, previously presented in earnings releases for the same periods, as well as other financial information, is furnished herewith as Exhibit 99.2 and is incorporated in this Item 7.01 by reference. As presented in Exhibits 99.1 and 99.2 to this Form 8-K, shipment volumes and financial information for PMI on a consolidated basis do not differ from previously disclosed results.

Key terms, definitions and explanatory notes, as well as reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures are set forth on Exhibits 99.1 and 99.2.

In accordance with General Instruction B.2 of Form 8-K, the information in Item 7.01 of this Current Report on Form 8-K, including Exhibits 99.1 and 99.2 hereto, is incorporated by reference herein and is being “furnished” to the Securities and Exchange Commission and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. The information in Item 7.01 of this Current Report on Form 8-K shall not be incorporated by reference into any filing or other document pursuant to the Securities Act of 1933, as amended, except as may be expressly set forth by specific reference in such filing or document.


Item 9.01.			Financial Statements and Exhibits.


(d)			Exhibits.


99.1			Recast Shipment Volume and Unaudited Financial Information - 2023 vs. 2022 (furnished pursuant to Item 7.01).


99.2			Recast Shipment Volume and Unaudited Financial Information - 2022 vs. 2021 (furnished pursuant to Item 7.01).


104			Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document and contained in Exhibit 101).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.



PHILIP MORRIS INTERNATIONAL INC.

By:						/s/ EMMANUEL BABEAU
Name:						Emmanuel Babeau
Title:						Chief Financial Officer

Date: February 27, 2024

Exhibit 99.1

Recast Shipment Volume and

Unaudited Financial Information

2023 vs. 2022

PHILIP MORRIS INTERNATIONAL INC. and Subsidiaries

Key Terms, Definitions and Explanatory Notes


General • “PMI” refers to Philip Morris International Inc. and its subsidiaries. Trademarks and service marks that are the registered property of, or licensed by, the subsidiaries of PMI, are italicized. • In November 2022, we acquired Swedish Match AB ("Swedish Match") - a leader in oral nicotine delivery - creating a global smoke-free combination led by the companies' IQOS and ZYN brands. Our consolidated statements of earnings for the year ended December 31, 2022, include the results of operations of Swedish Match from November 11, 2022 (acquisition date) to December 31, 2022. The operating results of Swedish Match were included in a separate segment for 2022 and 2023. Following the combination and the progress in 2023 toward the integration of the Swedish Match business into the existing PMI regional segment structure, we are updating our segment reporting by including Swedish Match results in the four existing geographical segments. As of the first quarter of 2024, we will report on this basis. • The recast 2023 and 2022 shipment volumes and financial information in this document reflect the integration of the Swedish Match business into the existing PMI geographical segment structure (announced on February 8, 2024). PMI’s shipment volumes and financials for total PMI as well as Wellness & Healthcare do not differ from previously disclosed results. • Comparisons are made to the same prior-year period unless otherwise stated. • "Combustible tobacco products" is the term PMI uses to refer to cigarettes and other tobacco products that are combusted. • "Total Oral Products volume" is defined as oral smoke-free product volume excluding snuff, snuff leaf and U.S. chew. Financial • Adjusted net revenues in 2023 exclude the impact related to the termination of distribution arrangement in the Middle East • "Adjusted Operating Income Margin" is calculated as adjusted operating income divided by adjusted net revenues. • Management reviews net revenues, gross profit, operating income, operating income margin, operating cash flow and earnings per share, or "EPS," on an adjusted basis, which may exclude the impact of currency and other items such as acquisitions, asset impairment and exit costs, tax items and other special items. Additionally, starting in 2022 and on a comparative basis, for these measures other than net revenues and operating cash flow, PMI includes adjustments to add back amortization expense on acquisition related intangible assets that are recorded as part of purchase accounting and contribute to PMI’s revenue generation, as well as impairment of intangible assets, if any. While amortization expense on acquisition related intangible assets is excluded in these adjusted measures, the net revenues generated from these acquired intangible assets are included in the company's adjusted measures, unless otherwise stated. Currency-neutral and organic growth rates reflect the way management views underlying performance for these measures. PMI believes that such measures provide useful insight into underlying business trends and results.			• Management reviews these measures because they exclude changes in currency exchange rates and other factors that may distort underlying business trends, thereby improving the comparability of PMI’s business performance between reporting periods. Furthermore, PMI uses several of these measures in its management compensation program to promote internal fairness and a disciplined assessment of performance against company targets. PMI discloses these measures to enable investors to view the business through the eyes of management. • Non-GAAP measures used in this release should neither be considered in isolation nor as a substitute for the financial measures prepared in accordance with U.S. GAAP. For a reconciliation of non-GAAP measures to the most directly comparable U.S. GAAP measures, see the relevant schedules provided with this report. Smoke-Free Products • Smoke-free products ("SFPs") is the term PMI primarily uses to refer to all of its products that are not combustible tobacco products, such as heat-not-burn, e-vapor, and oral nicotine. In addition, SFPs include wellness and healthcare products, as well as consumer accessories such as lighters and matches. • Reduced-risk products (“RRPs”) is the term PMI uses to refer to products that present, are likely to present, or have the potential to present less risk of harm to smokers who switch to these products versus continuing smoking. PMI has a range of RRPs in various stages of development, scientific assessment and commercialization. PMI's RRPs are smoke-free products that contain and/or generate far lower quantities of harmful and potentially harmful constituents than found in cigarette smoke. • Wellness and Healthcare products primarily refer to products associated with inhaled therapeutics and oral and intra-oral delivery systems that are included in the operating results of PMI's new Wellness and Healthcare business, Vectura Fertin Pharma. • "Heated tobacco units" or "HTU" is the term PMI uses to refer to heated tobacco consumables, which include our BLENDS, DELIA, HEETS, HEETS Creations, HEETS Dimensions (defined collectively as "HEETS"), Marlboro HeatSticks, SENTIA, TEREA, TEREA CRAFTED, and TEREA Dimensions, as well as the KT&G licensed brands, Fiit and Miix (outside of South Korea). HTU's also include zero tobacco heat-not-burn consumables (LEVIA). • "SSEA, CIS & MEA" stands for South & Southeast Asia, Commonwealth of Independent States, and Middle East & Africa. • "EA, AU & PMI DF" stands for East Asia, Australia and PMI Duty Free.


																		Schedule 1
PHILIP MORRIS INTERNATIONAL INC. and Subsidiaries
Oral Products Shipment Volume
(million cans)

	Quarters Ended March 31				Quarters Ended June 30				Quarters Ended September 30				Quarters Ended December 31				Full Year Ended December 31
	2023	2022	% Change		2023	2022	% Change		2023	2022	% Change		2023	2022	% Change		2023	2022	% Change
Nicotine Pouches
Europe	7.9	1.0	+100.0%		9.3	0.9	+100.0%		9.1	0.8	+100.0%		8.6	5.1	66.8	%	34.8	7.8	+100.0%
SSEA, CIS & MEA	0.2	—	—	%	0.3	—	—	%	0.2	—	—	%	0.9	0.1	+100.0%		1.5	0.1	+100.0%
EA, AU & PMI DF	—	—	—	%	—	—	—	%	—	—	—	%	—	—	—	%	—	—	—	%
Americas	73.2	—	—	%	89.9	—	—	%	105.4	—	—	%	116.3	34.5	+100.0%		384.8	34.5	+100.0%
Total PMI	81.3	1.0	+100.0%		99.5	0.9	+100.0%		114.6	0.8	+100.0%		125.7	39.8	+100.0%		421.1	42.5	+100.0%

Snus
Europe	54.4	2.5	+100.0%		61.4	5.0	+100.0%		59.5	4.4	+100.0%		61.1	42.0	45.3	%	236.4	53.9	+100.0%
SSEA, CIS & MEA	—	—	—	%	—	—	—	%	—	—	—	%	—	—	—	%	—	—	—	%
EA, AU & PMI DF	—	—	—	%	—	—	—	%	—	—	—	%	—	—	—	%	—	—	—	%
Americas	1.2	—	—	%	1.2	—	+100.0%		0.8	—	+100.0%		0.8	0.8	(3.1)	%	4.0	0.9	+100.0%
Total PMI	55.6	2.5	+100.0%		62.6	5.1	+100.0%		60.3	4.4	+100.0%		61.8	42.8	44.4	%	240.4	54.8	+100.0%

Moist Snuff
Europe	—	—	—	%	—	—	—	%	—	—	—	%	—	—	—	%	—	—	—	%
SSEA, CIS & MEA	—	—	—	%	—	—	—	%	—	—	—	%	—	—	—	%	—	—	—	%
EA, AU & PMI DF	—	—	—	%	—	—	—	%	—	—	—	%	—	—	—	%	—	—	—	%
Americas	35.2	—	—	%	34.1	—	—	%	33.2	—	—	%	31.2	16.0	95.5	%	133.7	16.0	+100.0%
Total PMI	35.2	—	—	%	34.1	—	—	%	33.2	—	—	%	31.2	16.0	95.5	%	133.7	16.0	+100.0%

Other
Europe	1.3	—	—	%	1.2	—	—	%	0.9	—	—	%	0.8	—	—	%	4.2	—	—	%
SSEA, CIS & MEA	—	—	—	%	—	—	—	%	—	—	—	%	—	—	—	%	—	—	—	%
EA, AU & PMI DF	—	—	—	%	—	—	—	%	—	—	—	%	—	—	—	%	—	—	—	%
Americas	—	—	—	%	—	—	—	%	—	—	—	%	—	—	—	%	—	—	—	%
Total PMI	1.3	—	—	%	1.2	—	—	%	0.9	—	—	%	0.8	—	—	%	4.2	—	—	%

Total Oral Products
Europe	63.5	3.5	+100.0%		71.9	5.9	+100.0%		69.5	5.1	+100.0%		70.4	47.2	49.4	%	275.4	61.8	+100.0%
SSEA, CIS & MEA	0.2	—	—	%	0.3	—	—	%	0.2	—	—	%	0.9	0.1	+100.0%		1.5	0.1	+100.0%
EA, AU & PMI DF	—	—	—	%	—	—	—	%	—	—	—	%	—	—	—	%	—	—	—	%
Americas	109.6	—	—	%	125.2	—	+100.0%		139.4	—	+100.0%		148.3	51.3	+100.0%		522.5	51.4	+100.0%
Total PMI	173.3	3.5	+100.0%		197.4	6.0	+100.0%		209.0	5.2	+100.0%		219.6	98.6	+100.0%		799.3	113.2	+100.0%

Note: Total Oral Products exclude snuff, snuff leaf and U.S. chew. Sum may not foot due to rounding and "-" indicates volumes from 0 to 0.1 million.


										Schedule 2 (1/5)
PHILIP MORRIS INTERNATIONAL INC. and Subsidiaries
Reconciliation of Non-GAAP Measures
Net Revenues by Product Category and Adjustments of Net Revenues for the Impact of Currency and Acquisitions
($ in millions) / (Unaudited)

Net Revenues		Currency	Net Revenues excluding Currency	Acquisitions	Net Revenues excluding Currency & Acquisitions	Quarters Ended March 31	Net Revenues	Total		Excluding Currency		Excluding Currency & Acquisitions

2023						Combustible Tobacco	2022	% Change
$ 1,815		$ (121)	$ 1,936	$ —	$ 1,936	Europe	$ 1,937	(6.3)	%	—	%	—	%
2,154	(a)	(130)	2,284	—	2,284	SSEA, CIS & MEA	2,195	(1.9)	%	4.0	%	4.0	%
689		(53)	742	—	742	EA, AU & PMI DF	769	(10.4)	%	(3.5)	%	(3.5)	%
566		9	556	136	420	Americas	402	40.6	%	38.3	%	4.5	%
$ 5,223		$ (295)	$ 5,518	$ 136	$ 5,382	Total Combustible Tobacco	$ 5,303	(1.5)	%	4.0	%	1.5	%

2023						Smoke-free excl. W&H	2022	% Change
$ 1,253		$ (76)	$ 1,329	$ 158	$ 1,171	Europe	$ 1,287	(2.7)	%	3.2	%	(9.0)	%
323		19	304	—	304	SSEA, CIS & MEA	250	29.6	%	21.9	%	21.9	%
831		(117)	948	—	948	EA, AU & PMI DF	818	1.6	%	15.8	%	15.8	%
302		—	303	287	16	Americas	22	+100%		+100%		(28.4)	%
$ 2,710		$ (174)	$ 2,884	$ 445	$ 2,439	Total Smoke-free excl. W&H	$ 2,377	14.0	%	21.3	%	2.6	%

2023						Wellness & Healthcare	2022	% Change
$ 86		$ (5)	$ 91	$ —	$ 91	Wellness & Healthcare	$ 66	30.3	%	37.9	%	37.9	%

2023						Smoke-free incl. W&H	2022	% Change
$ 2,796		$ (179)	$ 2,975	$ 445	$ 2,530	Total Smoke-free incl. W&H	$ 2,443	14.5	%	21.8	%	3.6	%

2023						PMI	2022	% Change
$ 3,068		$ (197)	$ 3,265	$ 158	$ 3,107	Europe	$ 3,224	(4.8)	%	1.3	%	(3.6)	%
2,477	(a)	(111)	2,588	—	2,588	SSEA, CIS & MEA	2,445	1.3	%	5.8	%	5.8	%
1,520		(170)	1,690	—	1,690	EA, AU & PMI DF	1,587	(4.2)	%	6.5	%	6.5	%
868		9	859	423	436	Americas	424	+100%		+100%		2.8	%
86		(5)	91	—	91	Wellness & Healthcare	66	30.3	%	37.9	%	37.9	%
$ 8,019		$ (474)	$ 8,493	$ 581	$ 7,912	Total PMI	$ 7,746	3.5	%	9.6	%	2.1	%

(a) Includes a reduction in net revenues of $80 million related to the termination of distribution arrangement in the Middle East
Note: Sum of product categories or Regions might not foot to total PMI due to roundings. "-" indicates amounts between -$0.5 million and +$0.5 million.


									Schedule 2 (2/5)
PHILIP MORRIS INTERNATIONAL INC. and Subsidiaries
Reconciliation of Non-GAAP Measures
Net Revenues by Product Category and Adjustments of Net Revenues for the Impact of Currency and Acquisitions
($ in millions) / (Unaudited)

Net Revenues	Currency	Net Revenues excluding Currency	Acquisitions	Net Revenues excluding Currency & Acquisitions	Quarters Ended June 30	Net Revenues	Total		Excluding Currency		Excluding Currency & Acquisitions

2023					Combustible Tobacco	2022	% Change
$ 2,108	$ (12)	$ 2,121	$ —	$ 2,121	Europe	$ 2,062	2.2	%	2.8	%	2.8	%
2,350	(187)	2,537	—	2,537	SSEA, CIS & MEA	2,203	6.7	%	15.2	%	15.2	%
724	(39)	763	—	763	EA, AU & PMI DF	754	(4.0)	%	1.2	%	1.2	%
608	14	593	149	444	Americas	444	36.8	%	33.5	%	0.1	%
$ 5,790	$ (224)	$ 6,014	$ 149	$ 5,865	Total Combustible Tobacco	$ 5,463	6.0	%	10.1	%	7.4	%

2023					Smoke-free excl. W&H	2022	% Change
$ 1,466	$ 1	$ 1,464	$ 172	$ 1,292	Europe	$ 1,247	17.6	%	17.5	%	3.7	%
318	(34)	352	—	352	SSEA, CIS & MEA	311	2.1	%	13.0	%	13.0	%
956	(94)	1,050	—	1,050	EA, AU & PMI DF	710	34.7	%	47.9	%	47.9	%
361	—	362	344	18	Americas	25	+100%		+100%		(29.3)	%
$ 3,101	$ (127)	$ 3,228	$ 516	$ 2,712	Total Smoke-free excl. W&H	$ 2,293	35.3	%	40.8	%	18.3	%

2023					Wellness & Healthcare	2022	% Change
$ 76	$ —	$ 76	$ —	$ 76	Wellness & Healthcare	$ 76	—	%	—	%	—	%

2023					Smoke-free incl. W&H	2022	% Change
$ 3,177	$ (127)	$ 3,304	$ 516	$ 2,788	Total Smoke-free incl. W&H	$ 2,369	34.1	%	39.5	%	17.7	%

2023					PMI	2022	% Change
$ 3,574	$ (11)	$ 3,585	$ 172	$ 3,413	Europe	$ 3,309	8.0	%	8.3	%	3.1	%
2,668	(221)	2,889	—	2,889	SSEA, CIS & MEA	2,514	6.1	%	14.9	%	14.9	%
1,680	(133)	1,813	—	1,813	EA, AU & PMI DF	1,464	14.8	%	23.8	%	23.8	%
969	14	955	493	462	Americas	469	+100%		+100%		(1.5)	%
76	—	76	—	76	Wellness & Healthcare	76	—	%	—	%	—	%
$ 8,967	$ (351)	$ 9,318	$ 665	$ 8,653	Total PMI	$ 7,832	14.5	%	19.0	%	10.5	%

Note: Sum of product categories or Regions might not foot to total PMI due to roundings. "-" indicates amounts between -$0.5 million and +$0.5 million.


									Schedule 2 (3/5)
PHILIP MORRIS INTERNATIONAL INC. and Subsidiaries
Reconciliation of Non-GAAP Measures
Net Revenues by Product Category and Adjustments of Net Revenues for the Impact of Currency and Acquisitions
($ in millions) / (Unaudited)

Net Revenues	Currency	Net Revenues excluding Currency	Acquisitions	Net Revenues excluding Currency & Acquisitions	Quarters Ended September 30	Net Revenues	Total		Excluding Currency		Excluding Currency & Acquisitions

2023					Combustible Tobacco	2022	% Change
$ 2,160	$ 112	$ 2,048	$ —	$ 2,048	Europe	$ 1,996	8.2	%	2.6	%	2.6	%
2,485	(291)	2,775	—	2,775	SSEA, CIS & MEA	2,454	1.3	%	13.1	%	13.1	%
678	(14)	692	—	692	EA, AU & PMI DF	692	(1.9)	%	0.1	%	0.1	%
509	37	472	49	423	Americas	450	13.3	%	4.9	%	(5.9)	%
$ 5,832	$ (155)	$ 5,988	$ 49	$ 5,939	Total Combustible Tobacco	$ 5,591	4.3	%	7.1	%	6.2	%

2023					Smoke-free excl. W&H	2022	% Change
$ 1,663	$ 90	$ 1,573	$ 151	$ 1,422	Europe	$ 1,276	30.4	%	23.3	%	11.5	%
292	(110)	403	—	403	SSEA, CIS & MEA	368	(20.6)	%	9.3	%	9.3	%
893	(37)	930	—	930	EA, AU & PMI DF	715	24.8	%	29.9	%	29.9	%
386	1	385	368	17	Americas	24	+100%		+100%		(30.1)	%
$ 3,234	$ (57)	$ 3,290	$ 519	$ 2,771	Total Smoke-free excl. W&H	$ 2,384	35.7	%	38.0	%	16.2	%

2023					Wellness & Healthcare	2022	% Change
$ 75	$ 3	$ 72	$ —	$ 72	Wellness & Healthcare	$ 57	31.6	%	26.3	%	26.3	%

2023					Smoke-free incl. W&H	2022	% Change
$ 3,309	$ (54)	$ 3,362	$ 519	$ 2,843	Total Smoke-free incl. W&H	$ 2,441	35.6	%	37.8	%	16.5	%

2023					PMI	2022	% Change
$ 3,823	$ 202	$ 3,621	$ 151	$ 3,470	Europe	$ 3,272	16.8	%	10.7	%	6.1	%
2,777	(401)	3,178	—	3,178	SSEA, CIS & MEA	2,822	(1.6)	%	12.6	%	12.6	%
1,571	(51)	1,622	—	1,622	EA, AU & PMI DF	1,407	11.7	%	15.3	%	15.3	%
895	38	857	417	440	Americas	474	88.8	%	80.8	%	(7.2)	%
75	3	72	—	72	Wellness & Healthcare	57	31.6	%	26.3	%	26.3	%
$ 9,141	$ (209)	$ 9,350	$ 568	$ 8,782	Total PMI	$ 8,032	13.8	%	16.4	%	9.3	%

Note: Sum of product categories or Regions might not foot to total PMI due to roundings. "-" indicates amounts between -$0.5 million and +$0.5 million.


									Schedule 2 (4/5)
PHILIP MORRIS INTERNATIONAL INC. and Subsidiaries
Reconciliation of Non-GAAP Measures
Net Revenues by Product Category and Adjustments of Net Revenues for the Impact of Currency and Acquisitions
($ in millions) / (Unaudited)

Net Revenues	Currency	Net Revenues excluding Currency	Acquisitions	Net Revenues excluding Currency & Acquisitions	Quarters Ended December 31	Net Revenues	Total		Excluding Currency		Excluding Currency & Acquisitions

2023					Combustible Tobacco	2022	% Change
$ 1,953	$ 137	$ 1,816	$ —	$ 1,816	Europe	$ 1,698	15.0	%	7.0	%	7.0	%
2,333	(206)	2,539	—	2,539	SSEA, CIS & MEA	2,321	0.5	%	9.4	%	9.4	%
585	(11)	596	—	596	EA, AU & PMI DF	617	(5.1)	%	(3.3)	%	(3.3)	%
617	34	583	44	539	Americas	578	6.8	%	0.9	%	(6.8)	%
$ 5,489	$ (45)	$ 5,534	$ 44	$ 5,489	Total Combustible Tobacco	$ 5,214	5.3	%	6.1	%	5.3	%

2023					Smoke-free excl. W&H	2022	% Change
$ 1,813	$ 118	$ 1,695	$ 65	$ 1,628	Europe	$ 1,469	23.4	%	15.4	%	11.0	%
374	(121)	495	—	495	SSEA, CIS & MEA	365	2.5	%	35.8	%	35.8	%
845	(35)	880	—	880	EA, AU & PMI DF	861	(1.9)	%	2.2	%	2.2	%
458	1	457	190	268	Americas	171	+100%		+100%		56.4	%
$ 3,489	$ (38)	$ 3,527	$ 255	$ 3,273	Total Smoke-free excl. W&H	$ 2,866	21.7	%	23.1	%	14.2	%

2023					Wellness & Healthcare	2022	% Change
$ 69	$ 5	$ 64	$ —	$ 64	Wellness & Healthcare	$ 72	(4.2)	%	(11.1)	%	(11.1)	%

2023					Smoke-free incl. W&H	2022	% Change
$ 3,558	$ (33)	$ 3,591	$ 255	$ 3,337	Total Smoke-free incl. W&H	$ 2,938	21.1	%	22.2	%	13.6	%

2023					PMI	2022	% Change
$ 3,766	$ 255	$ 3,511	$ 65	$ 3,446	Europe	$ 3,167	18.9	%	10.9	%	8.8	%
2,707	(327)	3,034	—	3,034	SSEA, CIS & MEA	2,686	0.8	%	13.0	%	13.0	%
1,430	(46)	1,476	—	1,476	EA, AU & PMI DF	1,478	(3.2)	%	(0.1)	%	(0.1)	%
1,075	35	1,040	234	806	Americas	749	43.5	%	38.9	%	7.6	%
69	5	64	—	64	Wellness & Healthcare	72	(4.2)	%	(11.1)	%	(11.1)	%
$ 9,047	$ (78)	$ 9,125	$ 299	$ 8,826	Total PMI	$ 8,152	11.0	%	11.9	%	8.3	%

Note: Sum of product categories or Regions might not foot to total PMI due to roundings. "-" indicates amounts between -$0.5 million and +$0.5 million.


										Schedule 2 (5/5)
PHILIP MORRIS INTERNATIONAL INC. and Subsidiaries
Reconciliation of Non-GAAP Measures
Net Revenues by Product Category and Adjustments of Net Revenues for the Impact of Currency and Acquisitions
($ in millions) / (Unaudited)

Net Revenues		Currency	Net Revenues excluding Currency	Acquisitions	Net Revenues excluding Currency & Acquisitions	Full Year Ended December 31	Net Revenues	Total		Excluding Currency		Excluding Currency & Acquisitions

2023						Combustible Tobacco	2022	% Change
$ 8,037		$ 116	$ 7,921	$ —	$ 7,921	Europe	$ 7,694	4.5	%	3.0	%	3.0	%
9,321	(a)	(814)	10,135	—	10,135	SSEA, CIS & MEA	9,173	1.6	%	10.5	%	10.5	%
2,676		(117)	2,793	—	2,793	EA, AU & PMI DF	2,831	(5.5)	%	(1.3)	%	(1.3)	%
2,299		96	2,204	378	1,826	Americas	1,874	22.7	%	17.6	%	(2.6)	%
$ 22,334		$ (720)	$ 23,053	$ 378	$ 22,676	Total Combustible Tobacco	$ 21,572	3.5	%	6.9	%	5.1	%

2023						Smoke-free excl. W&H	2022	% Change
$ 6,194		$ 133	$ 6,061	$ 546	$ 5,515	Europe	$ 5,278	17.4	%	14.8	%	4.5	%
1,308		(246)	1,554	—	1,554	SSEA, CIS & MEA	1,294	1.0	%	20.1	%	20.1	%
3,525		(283)	3,808	—	3,808	EA, AU & PMI DF	3,105	13.5	%	22.6	%	22.6	%
1,508		1	1,507	1,189	318	Americas	242	+100%		+100%		31.2	%
$ 12,534		$ (395)	$ 12,930	$ 1,735	$ 11,194	Total Smoke-free excl. W&H	$ 9,919	26.4	%	30.3	%	12.9	%

2023						Wellness & Healthcare	2022	% Change
$ 306		$ 3	$ 303	$ —	$ 303	Wellness & Healthcare	$ 271	12.9	%	11.8	%	11.8	%

2023						Smoke-free incl. W&H	2022	% Change
$ 12,840		$ (392)	$ 13,233	$ 1,735	$ 11,497	Total Smoke-free incl. W&H	$ 10,190	26.0	%	29.9	%	12.8	%

2023						PMI	2022	% Change
$ 14,231		$ 249	$ 13,982	$ 546	$ 13,436	Europe	$ 12,972	9.7	%	7.8	%	3.6	%
10,629	(a)	(1,060)	11,689	—	11,689	SSEA, CIS & MEA	10,467	1.5	%	11.7	%	11.7	%
6,201		(400)	6,601	—	6,601	EA, AU & PMI DF	5,936	4.5	%	11.2	%	11.2	%
3,807		96	3,711	1,567	2,144	Americas	2,116	79.9	%	75.4	%	1.3	%
306		3	303	—	303	Wellness & Healthcare	271	12.9	%	11.8	%	11.8	%
$ 35,174		$ (1,112)	$ 36,286	$ 2,113	$ 34,173	Total PMI	$ 31,762	10.7	%	14.2	%	7.6	%
(a) Includes a reduction in net revenues of $80 million related to the termination of distribution arrangement in the Middle East
Note: Sum of product categories or Regions might not foot to total PMI due to roundings. "-" indicates amounts between -$0.5 million and +$0.5 million.


														Schedule 3 (1/2)
PHILIP MORRIS INTERNATIONAL INC. and Subsidiaries
Reconciliation of Non-GAAP Measures
Reconciliation of Net Revenues to Adjusted Net Revenues, excluding Currency and Acquisitions
($ in millions) / (Unaudited)

Net Revenues	Special Items (a)	Adjusted Net Revenues	Currency	Adjusted Net Revenues excluding Currency	Acqui- sitions	Adjusted Net Revenues excluding Currency & Acqui- sitions			Net Revenues	Special Items	Adjusted Net Revenues	Total		Excluding Currency		Excluding Currency & Acqui- sitions

2023							Quarters Ended March 31,		2022			% Change
$ 3,068	$ —	$ 3,068	$ (197)	$ 3,265	$ 158	$ 3,107		Europe	$ 3,224	$ —	$ 3,224	(4.8)	%	1.3	%	(3.6)	%
2,477	(80)	2,557	(111)	2,668	—	2,668		SSEA, CIS & MEA	2,445	—	2,445	4.6	%	9.1	%	9.1	%
1,520	—	1,520	(170)	1,690	—	1,690		EA, AU & PMI DF	1,587	—	1,587	(4.2)	%	6.5	%	6.5	%
868	—	868	9	859	423	436		Americas	424	—	424	+100%		+100%		2.8	%
86	—	86	(5)	91	—	91		Wellness & Healthcare	66	—	66	30.3	%	37.9	%	37.9	%
$ 8,019	$ (80)	$ 8,099	$ (474)	$ 8,573	$ 581	$ 7,992		Total PMI	$ 7,746	$ —	$ 7,746	4.6	%	10.7	%	3.2	%

2023							Quarters Ended June 30,		2022			% Change
$ 3,574	$ —	$ 3,574	$ (11)	$ 3,585	$ 172	$ 3,413		Europe	$ 3,309	$ —	$ 3,309	8.0	%	8.3	%	3.1	%
2,668	—	2,668	(221)	2,889	—	2,889		SSEA, CIS & MEA	2,514	—	2,514	6.1	%	14.9	%	14.9	%
1,680	—	1,680	(133)	1,813	—	1,813		EA, AU & PMI DF	1,464	—	1,464	14.8	%	23.8	%	23.8	%
969	—	969	14	955	493	462		Americas	469	—	469	+100%		+100%		(1.5)	%
76	—	76	—	76	—	76		Wellness & Healthcare	76	—	76	—	%	—	%	—	%
$ 8,967	$ —	$ 8,967	$ (351)	$ 9,318	$ 665	$ 8,653		Total PMI	$ 7,832	$ —	$ 7,832	14.5	%	19.0	%	10.5	%

2023							Years Ended September 30,		2022			% Change
$ 3,823	$ —	$ 3,823	$ 202	$ 3,621	$ 151	$ 3,470		Europe	$ 3,272	$ —	$ 3,272	16.8	%	10.7	%	6.1	%
2,777	—	2,777	(401)	3,178	—	3,178		SSEA, CIS & MEA	2,822	—	2,822	(1.6)	%	12.6	%	12.6	%
1,571	—	1,571	(51)	1,622	—	1,622		EA, AU & PMI DF	1,407	—	1,407	11.7	%	15.3	%	15.3	%
895	—	895	38	857	417	440		Americas	474	—	474	88.8	%	80.8	%	(7.2)	%
75	—	75	3	72	—	72		Wellness & Healthcare	57	—	57	31.6	%	26.3	%	26.3	%
$ 9,141	$ —	$ 9,141	$ (209)	$ 9,350	$ 568	$ 8,782		Total PMI	$ 8,032	$ —	$ 8,032	13.8	%	16.4	%	9.3	%

(a) Reflects a reduction in net revenues of $80 million related to the termination of distribution arrangement in the Middle East


															Schedule 3 (2/2)
PHILIP MORRIS INTERNATIONAL INC. and Subsidiaries
Reconciliation of Non-GAAP Measures
Reconciliation of Net Revenues to Adjusted Net Revenues, excluding Currency and Acquisitions
($ in millions) / (Unaudited)

Net Revenues	Special Items (a)		Adjusted Net Revenues	Currency	Adjusted Net Revenues excluding Currency	Acqui- sitions	Adjusted Net Revenues excluding Currency & Acqui- sitions			Net Revenues	Special Items	Adjusted Net Revenues	Total		Excluding Currency		Excluding Currency & Acqui- sitions

2023								Quarters Ended December 31,		2022			% Change
$ 3,766	$ —		$ 3,766	$ 255	$ 3,511	$ 65	$ 3,446		Europe	$ 3,167	$ —	$ 3,167	18.9	%	10.9	%	8.8	%
2,707	—		2,707	(327)	3,034	—	3,034		SSEA, CIS & MEA	2,686	—	2,686	0.8	%	13.0	%	13.0	%
1,430	—		1,430	(46)	1,476	—	1,476		EA, AU & PMI DF	1,478	—	1,478	(3.2)	%	(0.1)	%	(0.1)	%
1,075	—		1,075	35	1,040	234	806		Americas	749	—	749	43.5	%	38.9	%	7.6	%
69	—		69	5	64	—	64		Wellness & Healthcare	72	—	72	(4.2)	%	(11.1)	%	(11.1)	%
$ 9,047	$ —		$ 9,047	$ (78)	$ 9,125	$ 299	$ 8,826		Total PMI	$ 8,152	$ —	$ 8,152	11.0	%	11.9	%	8.3	%

2023								Years Ended December 31,		2022			% Change
$ 14,231	$ —		$ 14,231	$ 249	$ 13,982	$ 546	$ 13,436		Europe	$ 12,972	$ —	$ 12,972	9.7	%	7.8	%	3.6	%
10,629	(80)	(1)	10,709	(1,060)	11,769	—	11,769		SSEA, CIS & MEA	10,467	—	10,467	2.3	%	12.4	%	12.4	%
6,201	—		6,201	(400)	6,601	—	6,601		EA, AU & PMI DF	5,936	—	5,936	4.5	%	11.2	%	11.2	%
3,807	—		3,807	96	3,711	1,567	2,144		Americas	2,116	—	2,116	79.9	%	75.4	%	1.3	%
306	—		306	3	303	—	303		Wellness & Healthcare	271	—	271	12.9	%	11.8	%	11.8	%
$ 35,174	$ (80)		$ 35,254	$ (1,112)	$ 36,366	$ 2,113	$ 34,253		Total PMI	$ 31,762	$ —	$ 31,762	11.0	%	14.5	%	7.8	%

(a) Reflects a reduction in net revenues of $80 million related to the termination of distribution arrangement in the Middle East


									Schedule 4 (1/2)
PHILIP MORRIS INTERNATIONAL INC. and Subsidiaries
Reconciliation of Non-GAAP Measures
Adjustments of Operating Income for the Impact of Currency and Acquisitions
($ in millions) / (Unaudited)

Operating Income	Currency	Operating Income excluding Currency	Acquisitions	Operating Income excluding Currency & Acquisitions		Operating Income	Total		Excluding Currency		Excluding Currency & Acquisitions

2023					Quarters Ended March 31	2022	% Change
$ 1,215	$ (90)	$ 1,305	$ 24	$ 1,281	Europe	$ 1,558	(22.0)	%	(16.2)	%	(17.8)	%
734	(44)	778	—	778	SSEA, CIS & MEA	965	(23.9)	%	(19.4)	%	(19.4)	%
637	(117)	754	—	754	EA, AU & PMI DF	685	(7.0)	%	10.1	%	10.1	%
183	(9)	192	169	23	Americas	121	51.2	%	58.7	%	(81.0)	%
(38)	1	(39)	—	(39)	Wellness & Healthcare	(31)	(22.6)	%	(25.8)	%	(25.8)	%
$ 2,731	$ (259)	$ 2,990	$ 193	$ 2,797	Total PMI	$ 3,298	(17.2)	%	(9.3)	%	(15.2)	%

2023					Quarters Ended June 30	2022	% Change
$ 1,619	$ 30	$ 1,589	$ 40	$ 1,549	Europe	$ 1,474	9.8	%	7.8	%	5.1	%
880	(98)	978	—	978	SSEA, CIS & MEA	958	(8.1)	%	2.1	%	2.1	%
557	(128)	685	—	685	EA, AU & PMI DF	528	5.5	%	29.7	%	29.7	%
243	(27)	270	224	46	Americas	130	86.9	%	+100%		(64.6)	%
(733)	(3)	(730)	—	(730)	Wellness & Healthcare	(34)	-(100)%		-(100)%		-(100)%
$ 2,566	$ (226)	$ 2,792	$ 264	$ 2,528	Total PMI	$ 3,056	(16.0)	%	(8.6)	%	(17.3)	%

2023					Quarters Ended September 30	2022	% Change
$ 1,717	$ 126	$ 1,591	$ (8)	$ 1,599	Europe	$ 1,415	21.3	%	12.4	%	13.0	%
823	(304)	1,127	—	1,127	SSEA, CIS & MEA	1,086	(24.2)	%	3.8	%	3.8	%
769	(67)	836	—	836	EA, AU & PMI DF	533	44.3	%	56.8	%	56.8	%
98	(43)	141	148	(7)	Americas	85	15.3	%	65.9	%	-(100)%
(37)	1	(38)	—	(38)	Wellness & Healthcare	(151)	75.5	%	74.8	%	74.8	%
$ 3,370	$ (287)	$ 3,657	$ 140	$ 3,517	Total PMI	$ 2,968	13.5	%	23.2	%	18.5	%


									Schedule 4 (2/2)
PHILIP MORRIS INTERNATIONAL INC. and Subsidiaries
Reconciliation of Non-GAAP Measures
Adjustments of Operating Income for the Impact of Currency and Acquisitions
($ in millions) / (Unaudited)

Operating Income	Currency	Operating Income excluding Currency	Acquisitions	Operating Income excluding Currency & Acquisitions		Operating Income	Total		Excluding Currency		Excluding Currency & Acquisitions

2023					Quarters Ended December 31	2022	% Change
$ 1,618	$ 125	$ 1,493	$ 11	$ 1,482	Europe	$ 1,329	21.7	%	12.3	%	11.5	%
699	(203)	902	—	902	SSEA, CIS & MEA	855	(18.2)	%	5.5	%	5.5	%
576	(82)	658	—	658	EA, AU & PMI DF	678	(15.0)	%	(2.9)	%	(2.9)	%
58	(136)	194	86	108	Americas	104	(44.2)	%	86.5	%	3.8	%
(62)	(5)	(57)	—	(57)	Wellness & Healthcare	(42)	(47.6)	%	(35.7)	%	(35.7)	%
$ 2,889	$ (301)	$ 3,190	$ 97	$ 3,093	Total PMI	$ 2,924	(1.2)	%	9.1	%	5.8	%

2023					Full Year Ended December 31	2022	% Change
$ 6,169	$ 191	$ 5,978	$ 67	$ 5,911	Europe	$ 5,776	6.8	%	3.5	%	2.3	%
3,136	(649)	3,785	—	3,785	SSEA, CIS & MEA	3,864	(18.8)	%	(2.0)	%	(2.0)	%
2,539	(394)	2,933	—	2,933	EA, AU & PMI DF	2,424	4.7	%	21.0	%	21.0	%
582	(215)	797	627	170	Americas	440	32.3	%	81.1	%	(61.4)	%
(870)	(6)	(864)	—	(864)	Wellness & Healthcare	(258)	-(100)%		-(100)%		-(100)%
$ 11,556	$ (1,073)	$ 12,629	$ 694	$ 11,935	Total PMI	$ 12,246	(5.6)	%	3.1	%	(2.5)	%


													Schedule 5
PHILIP MORRIS INTERNATIONAL INC. and Subsidiaries
Net Revenues and Operating Income: Price, Volume/Mix and Cost/Other Variances
($ in millions) / (Unaudited)


	2023 vs. 2022
	Quarters Ended March 31			Quarters Ended June 30			Quarters Ended September 30			Quarters Ended December 31			Full Year Ended December 31
	Price	Volume/Mix	Cost/Other	Price	Volume/Mix	Cost/Other	Price	Volume/Mix	Cost/Other	Price	Volume/Mix	Cost/Other	Price	Volume/Mix	Cost/Other
Net Revenues
Europe	$ 28	$ (145)	$ —	$ 149	$ (45)	$ —	$ 176	$ 22	$ —	$ 182	$ 97	$ —	$ 535	$ (71)	$ —
SSEA, CIS & MEA	233	36	(126)	253	149	(27)	265	118	(27)	257	97	(6)	1,008	400	(186)
EA, AU & PMI DF	14	89	—	23	326	—	36	179	—	133	(135)	—	206	459	—
Americas	37	(21)	(4)	36	(40)	(3)	21	(54)	(1)	64	(9)	2	158	(124)	(6)
Wellness & Healthcare	25	—	—	(2)	—	2	15	—	—	(5)	—	(3)	33	—	(1)
Total PMI	$ 337	$ (41)	$ (130)	$ 459	$ 390	$ (28)	$ 513	$ 265	$ (28)	$ 631	$ 50	$ (7)	$ 1,940	$ 664	$ (193)

Operating Income
Europe	$ 28	$ (180)	$ (125)	$ 149	$ (56)	$ (18)	$ 176	$ 11	$ (3)	$ 182	$ 138	$ (167)	$ 535	$ (87)	$ (313)
SSEA, CIS & MEA	233	(79)	(341)	253	(35)	(198)	265	(74)	(150)	257	(49)	(161)	1,008	(237)	(850)
EA, AU & PMI DF	14	45	10	23	244	(110)	36	170	97	133	(133)	(20)	206	326	(23)
Americas	37	(17)	(118)	36	(26)	(94)	21	(41)	(72)	64	(9)	(51)	158	(93)	(335)
Wellness & Healthcare	25	—	(33)	(2)	—	(694)	15	—	98	(5)	—	(10)	33	—	(639)
Total PMI	$ 337	$ (231)	$ (607)	$ 459	$ 127	$ (1,114)	$ 513	$ 66	$ (30)	$ 631	$ (53)	$ (409)	$ 1,940	$ (91)	$ (2,160)


													Schedule 6 (1/2)
PHILIP MORRIS INTERNATIONAL INC. and Subsidiaries
Reconciliation of Non-GAAP Measures
Reconciliation of Operating Income to Adjusted Operating Income, excluding Currency and Acquisitions
($ in millions) / (Unaudited)

Operating Income	Special Items (a)	Adjusted Operating Income	Currency	Adjusted Operating Income excluding Currency	Acquisitions	Adjusted Operating Income excluding Currency & Acquisitions		Operating Income	Special Items (a)	Adjusted Operating Income	Total		Excluding Currency		Excluding Currency & Acquisitions

2023							Quarters Ended March 31	2022			% Change
$ 1,215	$ (75)	$ 1,290	$ (90)	$ 1,380	$ 42	$ 1,338	Europe	$ 1,558	$ (52)	$ 1,610	(19.9)	%	(14.3)	%	(16.9)	%
734	(117)	851	(44)	895	—	895	SSEA, CIS & MEA	965	(6)	971	(12.4)	%	(7.8)	%	(7.8)	%
637	(20)	657	(117)	774	—	774	EA, AU & PMI DF	685	(1)	686	(4.2)	%	12.8	%	12.8	%
183	(62)	245	(9)	254	218	36	Americas	121	(2)	123	99.2	%	+100%		(71.0)	%
(38)	(14)	(24)	1	(25)	—	(25)	Wellness & Healthcare	(31)	(19)	(12)	-(100)%		-(100)%		-(100)%
$ 2,731	$ (288)	$ 3,019	$ (259)	$ 3,278	$ 261	$ 3,017	Total PMI	$ 3,298	$ (80)	$ 3,378	(10.6)	%	(3.0)	%	(10.7)	%

2023							Quarters Ended June 30	2022			% Change
$ 1,619	$ (28)	$ 1,647	$ 30	$ 1,617	$ 58	$ 1,559	Europe	$ 1,474	$ (113)	$ 1,587	3.8	%	1.9	%	(1.8)	%
880	(5)	885	(98)	983	—	983	SSEA, CIS & MEA	958	(21)	979	(9.6)	%	0.4	%	0.4	%
557	(205)	762	(128)	890	—	890	EA, AU & PMI DF	528	(12)	540	41.1	%	64.8	%	64.8	%
243	(33)	276	(27)	303	255	48	Americas	130	(4)	134	+100%		+100%		(64.4)	%
(733)	(695)	(38)	(3)	(35)	—	(35)	Wellness & Healthcare	(34)	(18)	(16)	-(100)%		-(100)%		-(100)%
$ 2,566	$ (966)	$ 3,532	$ (226)	$ 3,758	$ 313	$ 3,445	Total PMI	$ 3,056	$ (168)	$ 3,224	9.6	%	16.6	%	6.9	%

2023							Quarters Ended September 30	2022			% Change
$ 1,717	$ (148)	$ 1,865	$ 126	$ 1,739	$ 52	$ 1,687	Europe	$ 1,415	$ (115)	$ 1,530	21.9	%	13.7	%	10.3	%
823	(46)	869	(304)	1,173	—	1,173	SSEA, CIS & MEA	1,086	(67)	1,153	(24.6)	%	1.7	%	1.7	%
769	(25)	794	(67)	861	—	861	EA, AU & PMI DF	533	(46)	579	37.1	%	48.7	%	48.7	%
98	(131)	229	(43)	272	263	9	Americas	85	(13)	98	+100%		+100%		(90.5)	%
(37)	(14)	(23)	1	(24)	—	(24)	Wellness & Healthcare	(151)	(121)	(30)	23.3	%	20.0	%	20.0	%
$ 3,370	$ (364)	$ 3,734	$ (287)	$ 4,021	$ 315	$ 3,706	Total PMI	$ 2,968	$ (362)	$ 3,330	12.1	%	20.8	%	11.3	%

(a) For details on Special Items, refer to Schedule 7


													Schedule 6 (2/2)
PHILIP MORRIS INTERNATIONAL INC. and Subsidiaries
Reconciliation of Non-GAAP Measures
Reconciliation of Operating Income to Adjusted Operating Income, excluding Currency and Acquisitions
($ in millions) / (Unaudited)

Operating Income	Special Items (a)	Adjusted Operating Income	Currency	Adjusted Operating Income excluding Currency	Acquisitions	Adjusted Operating Income excluding Currency & Acquisitions		Operating Income	Special Items (a)	Adjusted Operating Income	Total		Excluding Currency		Excluding Currency & Acquisitions

2023							Quarters Ended December 31	2022			% Change
$ 1,618	$ (72)	$ 1,690	$ 125	$ 1,565	$ 24	$ 1,541	Europe	$ 1,329	$ (19)	$ 1,348	25.4	%	16.1	%	14.3	%
699	(5)	704	(203)	907	—	907	SSEA, CIS & MEA	855	38	817	(13.8)	%	11.0	%	11.0	%
576	—	576	(82)	658	—	658	EA, AU & PMI DF	678	31	647	(11.0)	%	1.7	%	1.7	%
58	(71)	129	(136)	265	114	151	Americas	104	(89)	193	(33.2)	%	37.3	%	(22.0)	%
(62)	(15)	(47)	(5)	(42)	—	(42)	Wellness & Healthcare	(42)	(13)	(29)	(62.1)	%	(44.8)	%	(44.8)	%
$ 2,889	$ (163)	$ 3,052	$ (301)	$ 3,353	$ 138	$ 3,215	Total PMI	$ 2,924	$ (52)	$ 2,976	2.6	%	12.7	%	8.0	%

2023							Full Year Ended December 31	2022			% Change
$ 6,169	$ (323)	$ 6,492	$ 191	$ 6,301	$ 177	$ 6,124	Europe	$ 5,776	$ (299)	$ 6,075	6.9	%	3.7	%	0.8	%
3,136	(173)	3,309	(649)	3,958	—	3,958	SSEA, CIS & MEA	3,864	(56)	3,920	(15.6)	%	1.0	%	1.0	%
2,539	(250)	2,789	(394)	3,183	—	3,183	EA, AU & PMI DF	2,424	(28)	2,452	13.7	%	29.8	%	29.8	%
582	(297)	879	(215)	1,094	851	243	Americas	440	(108)	548	60.4	%	99.6	%	(55.6)	%
(870)	(738)	(132)	(6)	(126)	—	(126)	Wellness & Healthcare	(258)	(171)	(87)	(51.7)	%	(44.8)	%	(44.8)	%
$ 11,556	$ (1,781)	$ 13,337	$ (1,073)	$ 14,410	$ 1,027	$ 13,383	Total PMI	$ 12,246	$ (662)	$ 12,908	3.3	%	11.6	%	3.7	%

(a) For details on Special Items, refer to Schedule 7


					Schedule 7 (1/4)
PHILIP MORRIS INTERNATIONAL INC. and Subsidiaries
Reconciliation of Non-GAAP Measures
Reconciliation of Reported Operating Income to Adjusted Operating Income
($ in millions) / (Unaudited)

	Quarter Ended March 31	Quarter Ended June 30,	Quarter Ended September 30	Quarter Ended December 31	Full Year Ended December 31
	2023	2023	2023	2023	2023
PMI
Reported Operating Income	$ 2,731	$ 2,566	$ 3,370	$ 2,889	$ 11,556
Asset Impairment & Exit Costs	(109)	—	—	—	(109)
Termination of distribution arrangement in the Middle East	(80)	—	—	—	(80)
Impairment of goodwill and other intangibles	—	(680)	—	—	(680)
Amortization of intangibles	(81)	(82)	(205)	(129)	(497)
Charges related to the war in Ukraine	—	—	(19)	(34)	(53)
Swedish Match AB acquisition accounting related items	(18)	—	—	—	(18)
South Korea Indirect Tax Charge	—	(204)	—	—	(204)
Termination of agreement with Foundation for a Smoke-Free World	—	—	(140)	—	(140)
Adjusted Operating Income	$ 3,019	$ 3,532	$ 3,734	$ 3,052	$ 13,337

Europe
Reported Operating Income	$ 1,215	$ 1,619	$ 1,717	$ 1,618	$ 6,169
Asset Impairment & Exit Costs	(47)	—	—	—	(47)
Amortization of intangibles	(28)	(28)	(69)	(38)	(163)
Charges related to the war in Ukraine	—	—	(19)	(34)	(53)
Termination of agreement with Foundation for a Smoke-Free World	—	—	(60)	—	(60)
Adjusted Operating Income	$ 1,290	$ 1,647	$ 1,865	$ 1,690	$ 6,492

SSEA, CIS & MEA
Reported Operating Income	$ 734	$ 880	$ 823	$ 699	$ 3,136
Asset Impairment & Exit Costs	(32)	—	—	—	(32)
Termination of distribution arrangement in the Middle East	(80)	—	—	—	(80)
Amortization of intangibles	(5)	(5)	(5)	(5)	(20)
Termination of agreement with Foundation for a Smoke-Free World	—	—	(41)	—	(41)
Adjusted Operating Income	$ 851	$ 885	$ 869	$ 704	$ 3,309


					Schedule 7 (2/4)
PHILIP MORRIS INTERNATIONAL INC. and Subsidiaries
Reconciliation of Non-GAAP Measures
Reconciliation of Reported Operating Income to Adjusted Operating Income
($ in millions) / (Unaudited)

	Quarter Ended March 31	Quarter Ended June 30,	Quarter Ended September 30	Quarter Ended December 31	Full Year Ended December 31
	2023	2023	2023	2023	2023
EA, AU & PMI DF
Reported Operating Income	$ 637	$ 557	$ 769	$ 576	$ 2,539
Asset Impairment & Exit Costs	(19)	—	—	—	(19)
Amortization of intangibles	(1)	(1)	(1)	—	(3)
South Korea Indirect Tax Charge	—	(204)	—	—	(204)
Termination of agreement with Foundation for a Smoke-Free World	—	—	(24)	—	(24)
Adjusted Operating Income	$ 657	$ 762	$ 794	$ 576	$ 2,789

Americas
Reported Operating Income	$ 183	$ 243	$ 98	$ 58	$ 582
Asset Impairment & Exit Costs	(11)	—	—	—	(11)
Amortization of intangibles	(33)	(33)	(116)	(71)	(253)
Swedish Match AB acquisition accounting related item	(18)	—	—	—	(18)
Termination of agreement with Foundation for a Smoke-Free World	—	—	(15)	—	(15)
Adjusted Operating Income	$ 245	$ 276	$ 229	$ 129	$ 879

Wellness & Healthcare
Reported Operating Income	$ (38)	$ (733)	$ (37)	$ (62)	$ (870)
Amortization of intangibles	(14)	(15)	(14)	(15)	(58)
Impairment of goodwill and other intangibles		(680)			(680)
Adjusted Operating Income	$ (24)	$ (38)	$ (23)	$ (47)	$ (132)


					Schedule 7 (3/4)
PHILIP MORRIS INTERNATIONAL INC. and Subsidiaries
Reconciliation of Non-GAAP Measures
Reconciliation of Reported Operating Income to Adjusted Operating Income
($ in millions) / (Unaudited)

	Quarter Ended March 31	Quarter Ended June 30,	Quarter Ended September 30	Quarter Ended December 31	Full Year Ended December 31
	2022	2022	2022	2022	2022
PMI
Reported Operating Income	$ 3,298	$ 3,056	$ 2,968	$ 2,924	$ 12,246
Impairment of goodwill and other intangibles	—	—	(112)	—	(112)
Amortization of intangibles	(38)	(36)	(139)	(58)	(159)
Cost associated to Swedish Match AB offer	—	(52)	(217)	154	(115)
Swedish Match AB acquisition accounting related item	—	—	—	(125)	(125)
Charges related to the war in Ukraine	(42)	(80)	(6)	(23)	(151)
Adjusted Operating Income	$ 3,378	$ 3,224	$ 3,330	$ 2,976	$ 12,908

Europe
Reported Operating Income	$ 1,558	$ 1,474	$ 1,415	$ 1,329	$ 5,776
Cost associated to Swedish Match AB offer	—	(24)	(100)	71	(53)
Charges related to the war in Ukraine	(42)	(80)	(6)	(23)	(151)
Amortization of intangibles	(10)	(9)	(9)	(19)	(47)
Swedish Match AB acquisition accounting related item	—	—	—	(48)	(48)
Adjusted Operating Income	$ 1,610	$ 1,587	$ 1,530	$ 1,348	$ 6,075

SSEA, CIS & MEA
Reported Operating Income	$ 965	$ 958	$ 1,086	$ 855	$ 3,864
Cost associated to Swedish Match AB offer	—	(15)	(61)	43	(33)
Amortization of intangibles	(6)	(6)	(6)	(5)	(23)
Adjusted Operating Income	$ 971	$ 979	$ 1,153	$ 817	$ 3,920

EA, AU & PMI DF
Reported Operating Income	$ 685	$ 528	$ 533	$ 678	$ 2,424
Cost associated to Swedish Match AB offer	—	(11)	(45)	32	(24)
Amortization of intangibles	(1)	(1)	(1)	(1)	(4)
Adjusted Operating Income	$ 686	$ 540	$ 579	$ 647	$ 2,452


					Schedule 7 (4/4)
PHILIP MORRIS INTERNATIONAL INC. and Subsidiaries
Reconciliation of Non-GAAP Measures
Reconciliation of Reported Operating Income to Adjusted Operating Income
($ in millions) / (Unaudited)

	Quarter Ended March 31	Quarter Ended June 30,	Quarter Ended September 30	Quarter Ended December 31	Full Year Ended December 31
	2022	2022	2022	2022	2022
Americas
Reported Operating Income	$ 121	$ 130	$ 85	$ 104	$ 440
Cost associated to Swedish Match AB offer	—	(2)	(11)	8	(5)
Amortization of intangibles	(2)	(2)	(2)	(20)	(26)
Swedish Match AB acquisition accounting related items	—	—	—	(77)	(77)
Adjusted Operating Income	$ 123	$ 134	$ 98	$ 193	$ 548

Wellness & Healthcare
Reported Operating Income	$ (31)	$ (34)	$ (151)	$ (42)	$ (258)
Amortization of intangibles	(19)	(18)	(9)	(13)	(59)
Impairment of goodwill and other intangibles	—	—	(112)	—	(112)
Adjusted Operating Income	$ (12)	$ (16)	$ (30)	$ (29)	$ (87)


																		Schedule 8 (1/2)
PHILIP MORRIS INTERNATIONAL INC. and Subsidiaries
Reconciliation of Non-GAAP Measures
Reconciliation of Adjusted Operating Income Margin, excluding Currency and Acquisitions
($ in millions) / (Unaudited)

Adjusted Operating Income (a)	Adjusted Net Revenues (b)	Adjusted Operating Income Margin		Adjusted Operating Income excluding Currency (a)	Adjusted Net Revenues excluding Currency (b)	Adjusted Operating Income Margin excluding Currency		Adjusted Operating Income excluding Currency & Acqui- sitions (a)	Adjusted Net Revenues excluding Currency & Acqui- sitions (b)	Adjusted Operating Income Margin excluding Currency & Acqui- sitions			Adjusted Operating Income (a)	Adjusted Net Revenues (b)	Adjusted Operating Income Margin		Adjusted Operating Income Margin	Adjusted Operating Income Margin excluding Currency	Adjusted Operating Income Margin excluding Currency & Acqui- sitions

2023												Quarters Ended March 31	2022				% Points Change
$ 1,290	$ 3,068	42.0	%	$ 1,380	$ 3,265	42.3	%	$ 1,338	$ 3,107	43.1	%	Europe	$ 1,610	$ 3,224	49.9	%	(7.9)	(7.6)	(6.8)
851	2,557	33.3	%	895	2,668	33.5	%	895	2,668	33.5	%	SSEA, CIS & MEA	971	2,445	39.7	%	(6.4)	(6.2)	(6.2)
657	1,520	43.2	%	774	1,690	45.8	%	774	1,690	45.8	%	EA, AU & PMI DF	686	1,587	43.2	%	—	2.6	2.6
245	868	28.2	%	254	859	29.6	%	36	436	8.2	%	Americas	123	424	29.0	%	(0.8)	0.6	(20.8)
(24)	86	(27.9)	%	(25)	91	(27.5)	%	(25)	91	(27.5)	%	Wellness & Healthcare	(12)	66	(18.2)	%	(9.7)	(9.3)	(9.3)
$ 3,019	$ 8,099	37.3	%	$ 3,278	$ 8,573	38.2	%	$ 3,017	$ 7,992	37.8	%	Total PMI	$ 3,378	$ 7,746	43.6	%	(6.3)	(5.4)	(5.8)

2023												Quarters Ended June 30	2022				% Points Change
$ 1,647	$ 3,574	46.1	%	$ 1,617	$ 3,585	45.1	%	$ 1,559	$ 3,413	45.7	%	Europe	$ 1,587	$ 3,309	48.0	%	(1.9)	(2.9)	(2.3)
885	2,668	33.2	%	983	2,889	34.0	%	983	2,889	34.0	%	SSEA, CIS & MEA	979	2,514	38.9	%	(5.7)	(4.9)	(4.9)
762	1,680	45.4	%	890	1,813	49.1	%	890	1,813	49.1	%	EA, AU & PMI DF	540	1,464	36.9	%	8.5	12.2	12.2
276	969	28.5	%	303	955	31.7	%	48	462	10.3	%	Americas	134	469	28.6	%	(0.1)	3.1	(18.3)
(38)	76	(50.0)	%	(35)	76	(46.1)	%	(35)	76	(46.1)	%	Wellness & Healthcare	(16)	76	(21.1)	%	(28.9)	(25.0)	(25.0)
$ 3,532	$ 8,967	39.4	%	$ 3,758	$ 9,318	40.3	%	$ 3,445	$ 8,653	39.8	%	Total PMI	$ 3,224	$ 7,832	41.2	%	(1.8)	(0.9)	(1.4)

2023												Quarters Ended September 30	2022				% Points Change
$ 1,865	$ 3,823	48.8	%	$ 1,739	$ 3,621	48.0	%	$ 1,687	$ 3,470	48.6	%	Europe	$ 1,530	$ 3,272	46.8	%	2.0	1.2	1.8
869	2,777	31.3	%	1,173	3,178	36.9	%	1,173	3,178	36.9	%	SSEA, CIS & MEA	1,153	2,822	40.9	%	(9.6)	(4.0)	(4.0)
794	1,571	50.5	%	861	1,622	53.1	%	861	1,622	53.1	%	EA, AU & PMI DF	579	1,407	41.2	%	9.3	11.9	11.9
229	895	25.6	%	272	857	31.7	%	9	440	2.1	%	Americas	98	474	20.7	%	4.9	11.0	(18.6)
(23)	75	(30.7)	%	(24)	72	(33.3)	%	(24)	72	(33.3)	%	Wellness & Healthcare	(30)	57	(52.6)	%	21.9	19.3	19.3
$ 3,734	$ 9,141	40.8	%	$ 4,021	$ 9,350	43.0	%	$ 3,706	$ 8,782	42.2	%	Total PMI	$ 3,330	$ 8,032	41.5	%	(0.7)	1.5	0.7

(a) For the calculation of Adjusted Operating Income, Adjusted Operating Income excluding currency and Adjusted Operating Income excluding currency and acquisitions, refer to Schedule 6
(b) For the calculation of Adjusted Net Revenues, Adjusted Net Revenues excluding currency and Adjusted Net Revenues excluding currency and acquisitions, refer to Schedule 3


																		Schedule 8 (2/2)
PHILIP MORRIS INTERNATIONAL INC. and Subsidiaries
Reconciliation of Non-GAAP Measures
Reconciliation of Adjusted Operating Income Margin, excluding Currency and Acquisitions
($ in millions) / (Unaudited)

Adjusted Operating Income (a)	Adjusted Net Revenues (b)	Adjusted Operating Income Margin		Adjusted Operating Income excluding Currency (a)	Adjusted Net Revenues excluding Currency (b)	Adjusted Operating Income Margin excluding Currency		Adjusted Operating Income excluding Currency & Acqui- sitions (a)	Adjusted Net Revenues excluding Currency & Acqui- sitions (b)	Adjusted Operating Income Margin excluding Currency & Acqui- sitions			Adjusted Operating Income (a)	Adjusted Net Revenues (b)	Adjusted Operating Income Margin		Adjusted Operating Income Margin	Adjusted Operating Income Margin excluding Currency	Adjusted Operating Income Margin excluding Currency & Acqui- sitions

2023												Quarters Ended December 31	2022				% Points Change
$ 1,690	$ 3,766	44.9	%	$ 1,565	$ 3,511	44.6	%	$ 1,541	$ 3,446	44.7	%	Europe	$ 1,348	$ 3,167	42.6	%	2.3	2.0	2.1
704	2,707	26.0	%	907	3,034	29.9	%	907	3,034	29.9	%	SSEA, CIS & MEA	817	2,686	30.4	%	(4.4)	(0.5)	(0.5)
576	1,430	40.3	%	658	1,476	44.6	%	658	1,476	44.6	%	EA, AU & PMI DF	647	1,478	43.8	%	(3.5)	0.8	0.8
129	1,075	12.0	%	265	1,040	25.5	%	151	806	18.7	%	Americas	193	749	25.8	%	(13.8)	(0.3)	(7.1)
(47)	69	(68.1)	%	(42)	64	(65.6)	%	(42)	64	(65.6)	%	Wellness & Healthcare	(29)	72	(40.3)	%	(27.8)	(25.3)	(25.3)
$ 3,052	$ 9,047	33.7	%	$ 3,353	$ 9,125	36.7	%	$ 3,215	$ 8,826	36.4	%	Total PMI	$ 2,976	$ 8,152	36.5	%	(2.8)	0.2	(0.1)

2023												Full Year Ended December 31	2022				% Points Change
$ 6,492	$ 14,231	45.6	%	$ 6,301	$ 13,982	45.1	%	$ 6,124	$ 13,436	45.6	%	Europe	$ 6,075	$ 12,972	46.8	%	(1.2)	(1.7)	(1.2)
3,309	10,709	30.9	%	3,958	11,769	33.6	%	3,958	11,769	33.6	%	SSEA, CIS & MEA	3,920	10,467	37.5	%	(6.6)	(3.9)	(3.9)
2,789	6,201	45.0	%	3,183	6,601	48.2	%	3,183	6,601	48.2	%	EA, AU & PMI DF	2,452	5,936	41.3	%	3.7	6.9	6.9
879	3,807	23.1	%	1,094	3,711	29.5	%	243	2,144	11.3	%	Americas	548	2,116	25.9	%	(2.8)	3.6	(14.6)
(132)	306	(43.1)	%	(126)	303	(41.6)	%	(126)	303	(41.6)	%	Wellness & Healthcare	(87)	271	(32.1)	%	(11.0)	(9.5)	(9.5)
$ 13,337	$ 35,254	37.8	%	$ 14,410	$ 36,366	39.6	%	$ 13,383	$ 34,253	39.1	%	Total PMI	$ 12,908	$ 31,762	40.6	%	(2.8)	(1.0)	(1.5)

(a) For the calculation of Adjusted Operating Income, Adjusted Operating Income excluding currency and Adjusted Operating Income excluding currency and acquisitions, refer to Schedule 6
(b) For the calculation of Adjusted Net Revenues, Adjusted Net Revenues excluding currency and Adjusted Net Revenues excluding currency and acquisitions, refer to Schedule 3

Exhibit 99.2

Recast Shipment Volume and

Unaudited Financial Information

2022 vs. 2021

PHILIP MORRIS INTERNATIONAL INC. and Subsidiaries

Key Terms, Definitions and Explanatory Notes


General • “PMI” refers to Philip Morris International Inc. and its subsidiaries. Trademarks and service marks that are the registered property of, or licensed by, the subsidiaries of PMI, are italicized. • In November 2022, we acquired Swedish Match AB ("Swedish Match") - a leader in oral nicotine delivery - creating a global smoke-free combination led by the companies' IQOS and ZYN brands. Our consolidated statements of earnings for the year ended December 31, 2022, include the results of operations of Swedish Match from November 11, 2022 (acquisition date) to December 31, 2022. The operating results of Swedish Match were included in a separate segment for 2022 and 2023. Following the combination and the progress in 2023 toward the integration of the Swedish Match business into the existing PMI regional segment structure, we are updating our segment reporting by including Swedish Match results in the four existing geographical segments. As of the first quarter of 2024, we will report on this basis. • The recast 2022 and 2021 shipment volumes and financial information in this document reflect the integration of the Swedish Match business into the existing PMI geographical segment structure (announced on February 8, 2024). PMI’s organic growth rates, shipment volumes and financials for total PMI and Wellness & Healthcare, as well as periods prior to fourth-quarter 2022 do not differ from previously disclosed results. • Comparisons are made to the same prior-year period unless otherwise stated. • "Combustible tobacco products" is the term PMI uses to refer to cigarettes and other tobacco products that are combusted. • "Total Oral Products volume" is defined as oral smoke-free product volume excluding snuff, snuff leaf and U.S. chew. Financial • Adjusted net revenues in 2021 exclude the impact related to the Saudi Arabia customs assessments. • "Adjusted Operating Income Margin" is calculated as adjusted operating income divided by adjusted net revenues. • Management reviews net revenues, gross profit, operating income, operating income margin, operating cash flow and earnings per share, or "EPS," on an adjusted basis, which may exclude the impact of currency and other items such as acquisitions, asset impairment and exit costs, tax items and other special items. Additionally, starting in 2022 and on a comparative basis, for these measures other than net revenues and operating cash flow, PMI includes adjustments to add back amortization expense on acquisition related intangible assets that are recorded as part of purchase accounting and contribute to PMI’s revenue generation, as well as impairment of intangible assets, if any. While amortization expense on acquisition related intangible assets is excluded in these adjusted measures, the net revenues generated from these acquired intangible assets are included in the company's adjusted measures, unless otherwise stated. Currency-neutral and organic growth rates reflect the way management views underlying performance for these measures. PMI believes that such measures provide useful insight into underlying business trends and results.			• Management reviews these measures because they exclude changes in currency exchange rates and other factors that may distort underlying business trends, thereby improving the comparability of PMI’s business performance between reporting periods. Furthermore, PMI uses several of these measures in its management compensation program to promote internal fairness and a disciplined assessment of performance against company targets. PMI discloses these measures to enable investors to view the business through the eyes of management. • Non-GAAP measures used in this release should neither be considered in isolation nor as a substitute for the financial measures prepared in accordance with U.S. GAAP. For a reconciliation of non-GAAP measures to the most directly comparable U.S. GAAP measures, see the relevant schedules provided with this report. Smoke-Free Products • Smoke-free products ("SFPs") is the term PMI primarily uses to refer to all of its products that are not combustible tobacco products, such as heat-not-burn, e-vapor, and oral nicotine. In addition, SFPs include wellness and healthcare products, as well as consumer accessories such as lighters and matches. • Reduced-risk products (“RRPs”) is the term PMI uses to refer to products that present, are likely to present, or have the potential to present less risk of harm to smokers who switch to these products versus continuing smoking. PMI has a range of RRPs in various stages of development, scientific assessment and commercialization. PMI's RRPs are smoke-free products that contain and/or generate far lower quantities of harmful and potentially harmful constituents than found in cigarette smoke. • Wellness and Healthcare products primarily refer to products associated with inhaled therapeutics and oral and intra-oral delivery systems that are included in the operating results of PMI's new Wellness and Healthcare business, Vectura Fertin Pharma. • "Heated tobacco units" or "HTU" is the term PMI uses to refer to heated tobacco consumables, which include our BLENDS, DELIA, HEETS, HEETS Creations, HEETS Dimensions (defined collectively as "HEETS"), Marlboro HeatSticks, SENTIA, TEREA, TEREA CRAFTED, and TEREA Dimensions, as well as the KT&G licensed brands, Fiit and Miix (outside of South Korea). HTU's also include zero tobacco heat-not-burn consumables (LEVIA). • "SSEA, CIS & MEA" stands for South & Southeast Asia, Commonwealth of Independent States, and Middle East & Africa. • "EA, AU & PMI DF" stands for East Asia, Australia and PMI Duty Free.


																		Schedule 1
PHILIP MORRIS INTERNATIONAL INC. and Subsidiaries
Oral Products Shipment Volume
(million cans)

	Quarters Ended March 31				Quarters Ended June 30				Quarters Ended September 30				Quarters Ended December 31				Full Year Ended December 31
	2022	2021	% Change		2022	2021	% Change		2022	2021	% Change		2022	2021	% Change		2022	2021	% Change
Nicotine Pouches
Europe	1.0	—	—	%	0.9	—	—	%	0.8	0.5	69.2	%	5.1	0.6	+100.0%		7.8	1.1	+100.0%
SSEA, CIS & MEA	—	—	—	%	—	—	—	%	—	—	—	%	0.1	—	—	%	0.1	—	—	%
EA, AU & PMI DF	—	—	—	%	—	—	—	%	—	—	—	%	—	—	—	%	—	—	—	%
Americas	—	—	—	%	—	—	—	%	—	—	—	%	34.5	—	—	%	34.5	—	—	%
Total PMI	1.0	—	—	%	0.9	—	—	%	0.8	0.5	69.2	%	39.8	0.6	+100.0%		42.5	1.1	+100.0%

Snus
Europe	2.5	—	—	%	5.0	0.5	+100.0%		4.4	2.8	56.4	%	42.0	2.9	+100.0%		53.9	6.2	+100.0%
SSEA, CIS & MEA	—	—	—	%	—	—	(100.0)	%	—	—	(100.0)	%	—	—	—	%	—	—	(100.0)	%
EA, AU & PMI DF	—	—	—	%	—	—	—	%	—	—	—	%	—	—	—	%	—	—	—	%
Americas	—	—	—	%	—	—	—	%	—	—	—	%	0.8	—	+100.0%		0.9	—	+100.0%
Total PMI	2.5	—	—	%	5.1	0.5	+100.0%		4.4	2.8	57.6	%	42.8	2.9	+100.0%		54.8	6.2	+100.0%

Moist Snuff
Europe	—	—	—	%	—	—	—	%	—	—	—	%	—	—	—	%	—	—	—	%
SSEA, CIS & MEA	—	—	—	%	—	—	—	%	—	—	—	%	—	—	—	%	—	—	—	%
EA, AU & PMI DF	—	—	—	%	—	—	—	%	—	—	—	%	—	—	—	%	—	—	—	%
Americas	—	—	—	%	—	—	—	%	—	—	—	%	16.0	—	—	%	16.0	—	—	%
Total PMI	—	—	—	%	—	—	—	%	—	—	—	%	16.0	—	—	%	16.0	—	—	%

Total Oral Products
Europe	3.5	—	—	%	5.9	0.5	+100.0%		5.1	3.2	58.2	%	47.2	3.5	+100.0%		61.8	7.3	+100.0%
SSEA, CIS & MEA	—	—	—	%	—	—	(100.0)	%	—	—	(100.0)	%	0.1	—	—	%	0.1	—	+100.0%
EA, AU & PMI DF	—	—	—	%	—	—	—	%	—	—	—	%	—	—	—	%	—	—	—	%
Americas	—	—	—	%	—	—	—	%	—	—	—	%	51.3	—	+100.0%		51.4	—	+100.0%
Total PMI	3.5	—	—	%	6.0	0.5	+100.0%		5.2	3.2	59.2	%	98.6	3.5	+100.0%		113.2	7.3	+100.0%

Note: Total Oral Products exclude snuff, snuff leaf and U.S. chew. Sum may not foot due to rounding and "-" indicates volumes from 0 to 0.1 million.


									Schedule 2 (1/2)
PHILIP MORRIS INTERNATIONAL INC. and Subsidiaries
Reconciliation of Non-GAAP Measures
Net Revenues by Product Category and Adjustments of Net Revenues for the Impact of Currency and Acquisitions
($ in millions) / (Unaudited)

Net Revenues	Currency	Net Revenues excluding Currency	Acquisitions	Net Revenues excluding Currency & Acquisitions	Quarters Ended December 31	Net Revenues	Total		Excluding Currency		Excluding Currency & Acquisitions

2022					Combustible Tobacco	2021	% Change
$ 1,698	$ (291)	$ 1,989	$ —	$ 1,989	Europe	$ 2,065	(17.8)	%	(3.7)	%	(3.7)	%
2,321	(144)	2,465	—	2,465	SSEA, CIS & MEA	2,298	1.0	%	7.3	%	7.3	%
617	(74)	691	—	691	EA, AU & PMI DF	727	(15.1)	%	(4.9)	%	(4.9)	%
578	2	576	70	506	Americas	490	17.9	%	17.5	%	3.3	%
$ 5,214	$ (508)	$ 5,722	$ 70	$ 5,652	Total Combustible Tobacco	$ 5,579	(6.6)	%	2.6	%	1.3	%

2022					Smoke-free excl. W&H	2021	% Change
$ 1,469	$ (229)	$ 1,698	$ 103	$ 1,595	Europe	$ 1,177	24.8	%	44.2	%	35.5	%
365	16	349	—	349	SSEA, CIS & MEA	315	15.7	%	10.6	%	10.6	%
861	(147)	1,008	—	1,008	EA, AU & PMI DF	898	(4.1)	%	12.2	%	12.2	%
171	(1)	172	143	29	Americas	33	+100%		+100%		(12.1)	%
$ 2,866	$ (360)	$ 3,226	$ 246	$ 2,980	Total Smoke-free excl. W&H	$ 2,424	18.3	%	33.1	%	23.0	%

2022					Wellness & Healthcare	2021	% Change
$ 72	$ (10)	$ 82	$ —	$ 82	Wellness & Healthcare	$ 101	(28.7)	%	(18.8)	%	(18.8)	%

2022					Smoke-free incl. W&H	2021	% Change
$ 2,938	$ (370)	$ 3,308	$ 246	$ 3,062	Total Smoke-free incl. W&H	$ 2,525	16.4	%	31.0	%	21.3	%

2022					PMI	2021	% Change
$ 3,167	$ (520)	$ 3,687	$ 103	$ 3,584	Europe	$ 3,242	(2.3)	%	13.7	%	10.5	%
2,686	(128)	2,814	—	2,814	SSEA, CIS & MEA	2,613	2.8	%	7.7	%	7.7	%
1,478	(221)	1,699	—	1,699	EA, AU & PMI DF	1,625	(9.0)	%	4.6	%	4.6	%
749	1	748	213	535	Americas	523	43.2	%	43.0	%	2.3	%
72	(10)	82	—	82	Wellness & Healthcare	101	(28.7)	%	(18.8)	%	(18.8)	%
$ 8,152	$ (878)	$ 9,030	$ 316	$ 8,714	Total PMI	$ 8,104	0.6	%	11.4	%	7.5	%

Note: Sum of product categories or Regions might not foot to total PMI due to roundings. "-" indicates amounts between -$0.5 million and +$0.5 million.


										Schedule 2 (2/2)
PHILIP MORRIS INTERNATIONAL INC. and Subsidiaries
Reconciliation of Non-GAAP Measures
Net Revenues by Product Category and Adjustments of Net Revenues for the Impact of Currency and Acquisitions
($ in millions) / (Unaudited)

Net Revenues	Currency	Net Revenues excluding Currency	Acquisitions	Net Revenues excluding Currency & Acquisitions	Full Year Ended December 31	Net Revenues		Total		Excluding Currency		Excluding Currency & Acquisitions

2022					Combustible Tobacco	2021		% Change
$ 7,694	$ (931)	$ 8,624	$ —	$ 8,624	Europe	$ 8,767		(12.2)	%	(1.6)	%	(1.6)	%
9,173	(456)	9,629	—	9,629	SSEA, CIS & MEA	8,734	(a)	5.0	%	10.2	%	10.2	%
2,831	(243)	3,074	—	3,074	EA, AU & PMI DF	2,861		(1.0)	%	7.5	%	7.5	%
1,874	(13)	1,887	70	1,818	Americas	1,706		9.9	%	10.6	%	6.5	%
$ 21,572	$ (1,643)	$ 23,214	$ 70	$ 23,144	Total Combustible Tobacco	$ 22,067		(2.2)	%	5.2	%	4.9	%

2022					Smoke-free excl. W&H	2021		% Change
$ 5,278	$ (645)	$ 5,924	$ 113	$ 5,811	Europe	$ 4,388		20.3	%	35.0	%	32.4	%
1,294	37	1,257	—	1,257	SSEA, CIS & MEA	1,124		15.1	%	11.8	%	11.8	%
3,105	(392)	3,497	—	3,497	EA, AU & PMI DF	3,587		(13.5)	%	(2.5)	%	(2.5)	%
242	(2)	244	143	100	Americas	137		76.3	%	77.5	%	(26.8)	%
$ 9,919	$ (1,002)	$ 10,922	$ 256	$ 10,666	Total Smoke-free excl. W&H	$ 9,237		7.4	%	18.2	%	15.5	%

2022					Wellness & Healthcare	2021		% Change
$ 271	$ (11)	$ 282	$ 189	$ 93	Wellness & Healthcare	$ 101		+100%		+100%		(7.9)	%

2022					Smoke-free incl. W&H	2021		% Change
$ 10,190	$ (1,013)	$ 11,204	$ 445	$ 10,759	Total Smoke-free incl. W&H	$ 9,338		9.1	%	20.0	%	15.2	%

2022					PMI	2021		% Change
$ 12,972	$ (1,576)	$ 14,548	$ 113	$ 14,435	Europe	$ 13,155		(1.4)	%	10.6	%	9.7	%
10,467	(419)	10,886	—	10,886	SSEA, CIS & MEA	9,858	(a)	6.2	%	10.4	%	10.4	%
5,936	(635)	6,571	—	6,571	EA, AU & PMI DF	6,448		(7.9)	%	1.9	%	1.9	%
2,116	(15)	2,131	213	1,918	Americas	1,843		14.8	%	15.6	%	4.1	%
271	(11)	282	189	93	Wellness & Healthcare	101		+100%		+100%		(7.9)	%
$ 31,762	$ (2,656)	$ 34,418	$ 515	$ 33,903	Total PMI	$ 31,405		1.1	%	9.6	%	8.0	%
(a) Includes a reduction in net revenues of $246 million related to the Saudi Arabia customs assessment
Note: Sum of product categories or Regions might not foot to total PMI due to roundings. "-" indicates amounts between -$0.5 million and +$0.5 million.


														Schedule 3
PHILIP MORRIS INTERNATIONAL INC. and Subsidiaries
Reconciliation of Non-GAAP Measures
Reconciliation of Net Revenues to Adjusted Net Revenues, excluding Currency and Acquisitions
($ in millions) / (Unaudited)

Net Revenues	Special Items	Adjusted Net Revenues	Currency	Adjusted Net Revenues excluding Currency	Acqui- sitions	Adjusted Net Revenues excluding Currency & Acqui- sitions			Net Revenues	Special Items (a)	Adjusted Net Revenues	Total		Excluding Currency		Excluding Currency & Acqui- sitions

2022							Quarters Ended December 31,		2021			% Change
$ 3,167	$ —	$ 3,167	$ (520)	$ 3,687	$ 103	$ 3,584		Europe	$ 3,242	$ —	$ 3,242	(2.3)	%	13.7	%	10.5	%
2,686	—	2,686	(128)	2,814	—	2,814		SSEA, CIS & MEA	2,613	—	2,613	2.8	%	7.7	%	7.7	%
1,478	—	1,478	(221)	1,699	—	1,699		EA, AU & PMI DF	1,625	—	1,625	(9.0)	%	4.6	%	4.6	%
749	—	749	1	748	213	535		Americas	523	—	523	43.2	%	43.0	%	2.3	%
72	—	72	(10)	82	—	82		Wellness & Healthcare	101	—	101	(28.7)	%	(18.8)	%	(18.8)	%
$ 8,152	$ —	$ 8,152	$ (878)	$ 9,030	$ 316	$ 8,714		Total PMI	$ 8,104	$ —	$ 8,104	0.6	%	11.4	%	7.5	%

2022							Years Ended December 31,		2021			% Change
$ 12,972	$ —	$ 12,972	$ (1,576)	$ 14,548	$ 113	$ 14,435		Europe	$ 13,155	$ —	$ 13,155	(1.4)	%	10.6	%	9.7	%
10,467	—	10,467	(419)	10,886	—	10,886		SSEA, CIS & MEA	9,858	(246)	10,104	3.6	%	7.7	%	7.7	%
5,936	—	5,936	(635)	6,571	—	6,571		EA, AU & PMI DF	6,448	—	6,448	(7.9)	%	1.9	%	1.9	%
2,116	—	2,116	(15)	2,131	213	1,918		Americas	1,843	—	1,843	14.8	%	15.6	%	4.1	%
271	—	271	(11)	282	189	93		Wellness & Healthcare	101	—	101	+100%		+100%		(7.9)	%
$ 31,762	$ —	$ 31,762	$ (2,656)	$ 34,418	$ 515	$ 33,903		Total PMI	$ 31,405	$ (246)	$ 31,651	0.4	%	8.7	%	7.1	%

(a) Represents the reduction in net revenues of $246 million related to the Saudi Arabia customs assessment.


									Schedule 4
PHILIP MORRIS INTERNATIONAL INC. and Subsidiaries
Reconciliation of Non-GAAP Measures
Adjustments of Operating Income for the Impact of Currency and Acquisitions
($ in millions) / (Unaudited)

Operating Income	Currency	Operating Income excluding Currency	Acquisitions	Operating Income excluding Currency & Acquisitions		Operating Income	Total		Excluding Currency		Excluding Currency & Acquisitions

2022					Quarters Ended December 31	2021	% Change
$ 1,329	$ (272)	$ 1,601	$ (26)	$ 1,627	Europe	$ 1,353	(1.8)	%	18.3	%	20.3	%
855	(21)	876	—	876	SSEA, CIS & MEA	844	1.3	%	3.8	%	3.8	%
678	(113)	791	—	791	EA, AU & PMI DF	631	7.4	%	25.4	%	25.4	%
104	(15)	119	4	115	Americas	120	(13.3)	%	(0.8)	%	(4.2)	%
(42)	6	(48)	—	(48)	Wellness & Healthcare	(1)	(100)	%	(100)	%	(100)	%
$ 2,924	$ (415)	$ 3,339	$ (22)	$ 3,361	Total PMI	$ 2,947	(0.8)	%	13.3	%	14.0	%

2022					Full Year Ended December 31	2021	% Change
$ 5,776	$ (1,029)	$ 6,805	$ (28)	$ 6,833	Europe	$ 6,409	(9.9)	%	6.2	%	6.6	%
3,864	(99)	3,963	—	3,963	SSEA, CIS & MEA	3,295	17.3	%	20.3	%	20.3	%
2,424	(376)	2,800	—	2,800	EA, AU & PMI DF	2,836	(14.5)	%	(1.3)	%	(1.3)	%
440	(11)	451	4	447	Americas	487	(9.7)	%	(7.4)	%	(8.2)	%
(258)	8	(266)	(72)	(194)	Wellness & Healthcare	(52)	(100)	%	(100)	%	(100)	%
$ 12,246	$ (1,507)	$ 13,753	$ (96)	$ 13,849	Total PMI	$ 12,975	(5.6)	%	6.0	%	6.7	%


													Schedule 5
PHILIP MORRIS INTERNATIONAL INC. and Subsidiaries
Reconciliation of Non-GAAP Measures
Reconciliation of Operating Income to Adjusted Operating Income, excluding Currency and Acquisitions
($ in millions) / (Unaudited)

Operating Income	Special Items (a)	Adjusted Operating Income	Currency	Adjusted Operating Income excluding Currency	Acquisitions	Adjusted Operating Income excluding Currency & Acquisitions		Operating Income	Special Items (a)	Adjusted Operating Income	Total		Excluding Currency		Excluding Currency & Acquisitions

2022							Quarters Ended December 31	2021			% Change
$ 1,329	$ (19)	$ 1,348	$ (272)	$ 1,620	$ 31	$ 1,589	Europe	$ 1,353	$ (23)	$ 1,376	(2.0)	%	17.7	%	15.5	%
855	38	817	(21)	838	—	838	SSEA, CIS & MEA	844	(19)	863	(5.3)	%	(2.9)	%	(2.9)	%
678	31	647	(113)	760	—	760	EA, AU & PMI DF	631	(23)	654	(1.1)	%	16.2	%	16.2	%
104	(89)	193	(15)	208	98	110	Americas	120	(4)	124	55.6	%	67.7	%	(11.3)	%
(42)	(13)	(29)	6	(35)	—	(35)	Wellness & Healthcare	(1)	(18)	17	(100)	%	(100)	%	(100)	%
$ 2,924	$ (52)	$ 2,976	$ (415)	$ 3,391	$ 129	$ 3,262	Total PMI	$ 2,947	$ (87)	$ 3,034	(1.9)	%	11.8	%	7.5	%

2022							Full Year Ended December 31	2021			% Change
$ 5,776	$ (299)	$ 6,075	$ (1,029)	$ 7,104	$ 29	$ 7,075	Europe	$ 6,409	$ (109)	$ 6,518	(6.8)	%	9.0	%	8.5	%
3,864	(56)	3,920	(99)	4,019	—	4,019	SSEA, CIS & MEA	3,295	(319)	3,614	8.5	%	11.2	%	11.2	%
2,424	(28)	2,452	(376)	2,828	—	2,828	EA, AU & PMI DF	2,836	(95)	2,931	(16.3)	%	(3.5)	%	(3.5)	%
440	(108)	548	(11)	559	98	461	Americas	487	(17)	504	8.7	%	10.9	%	(8.5)	%
(258)	(171)	(87)	8	(95)	(28)	(67)	Wellness & Healthcare	(52)	(69)	17	(100)	%	(100)	%	(100)	%
$ 12,246	$ (662)	$ 12,908	$ (1,507)	$ 14,415	$ 99	$ 14,316	Total PMI	$ 12,975	$ (609)	$ 13,584	(5.0)	%	6.1	%	5.4	%

(a) For details on Special Items, refer to Schedule 6


				Schedule 6 (1/2)
PHILIP MORRIS INTERNATIONAL INC. and Subsidiaries
Reconciliation of Non-GAAP Measures
Reconciliation of Reported Operating Income to Adjusted Operating Income
($ in millions) / (unaudited)

	Quarter Ended December 31	Full Year Ended December 31	Quarter Ended December 31	Full Year Ended December 31
	2022	2022	2021	2021
PMI
Reported Operating Income	$ 2,924	$ 12,246	$ 2,947	$ 12,975
Asset impairment and exist costs	—	—	(46)	(216)
Asset acquisition cost	—	—	—	(51)
Saudi Arabia customs assessment	—	—	—	(246)
Impairment of goodwill and other intangibles	—	(112)	—	—
Amortization of intangibles	(58)	(159)	(41)	(96)
Charges related to the war in Ukraine	(23)	(151)	—	—
Costs associated with Swedish Match AB offer	154	(115)	—	—
Swedish Match AB acquisition accounting related items	(125)	(125)	—	—
Adjusted Operating Income	$ 2,976	$ 12,908	$ 3,034	$ 13,584

Europe
Reported Operating Income	$ 1,329	$ 5,776	$ 1,353	$ 6,409
Asset impairment and exist costs	—	—	(13)	(72)
Amortization of intangibles	(19)	(47)	(10)	(37)
Charges related to the war in Ukraine	(23)	(151)	—	—
Costs associated with Swedish Match AB offer	71	(53)	—	—
Swedish Match AB acquisition accounting related items	(48)	(48)	—	—
Adjusted Operating Income	$ 1,348	$ 6,075	$ 1,376	$ 6,518

SSEA, CIS & MEA
Reported Operating Income	$ 855	$ 3,864	$ 844	$ 3,295
Asset impairment and exist costs	—	—	(9)	(45)
Amortization of intangibles	(5)	(23)	(10)	(28)
Saudi Arabia customs assessment	—	—	—	(246)
Costs associated with Swedish Match AB offer	43	(33)	—	—
Adjusted Operating Income	$ 817	$ 3,920	$ 863	$ 3,614


				Schedule 6 (2/2)
PHILIP MORRIS INTERNATIONAL INC. and Subsidiaries
Reconciliation of Non-GAAP Measures
Reconciliation of Reported Operating Income to Adjusted Operating Income
($ in millions) / (unaudited)

	Quarter Ended December 31	Full Year Ended December 31	Quarter Ended December 31	Full Year Ended December 31
	2022	2022	2021	2021
EA, AU & PMI DF
Reported Operating Income	$ 678	$ 2,424	$ 631	$ 2,836
Asset impairment and exist costs	—	—	(22)	(91)
Amortization of intangibles	(1)	(4)	(1)	(4)
Costs associated with Swedish Match AB offer	32	(24)	—	—
Adjusted Operating Income	$ 647	$ 2,452	$ 654	$ 2,931

Americas
Reported Operating Income	$ 104	$ 440	$ 120	$ 487
Asset impairment and exist costs	—	—	(2)	(8)
Amortization of intangibles	(20)	(26)	(2)	(9)
Costs associated with Swedish Match AB offer	8	(5)	—	—
Swedish Match AB acquisition accounting related items	(77)	(77)	—	—
Adjusted Operating Income	$ 193	$ 548	$ 124	$ 504

Wellness & Healthcare
Reported Operating Income	$ (42)	$ (258)	$ (1)	$ (52)
Amortization of intangibles	(13)	(59)	(18)	(18)
Asset acquisition cost	—	—	—	(51)
Impairment of goodwill and other intangibles	—	(112)	—	—
Adjusted Operating Income	$ (29)	$ (87)	$ 17	$ 17


																		Schedule 7
PHILIP MORRIS INTERNATIONAL INC. and Subsidiaries
Reconciliation of Non-GAAP Measures
Reconciliation of Adjusted Operating Income Margin, excluding Currency and Acquisitions
($ in millions) / (Unaudited)

Adjusted Operating Income (a)	Adjusted Net Revenues (b)	Adjusted Operating Income Margin		Adjusted Operating Income excluding Currency (a)	Adjusted Net Revenues excluding Currency (b)	Adjusted Operating Income Margin excluding Currency		Adjusted Operating Income excluding Currency & Acqui- sitions (a)	Adjusted Net Revenues excluding Currency & Acqui- sitions (b)	Adjusted Operating Income Margin excluding Currency & Acqui- sitions			Adjusted Operating Income (a)	Adjusted Net Revenues (b)	Adjusted Operating Income Margin		Adjusted Operating Income Margin	Adjusted Operating Income Margin excluding Currency	Adjusted Operating Income Margin excluding Currency & Acqui- sitions

2022												Quarters Ended December 31	2021				% Points Change
$ 1,348	$ 3,167	42.6	%	$ 1,620	$ 3,687	43.9	%	$ 1,589	$ 3,584	44.3	%	Europe	$ 1,376	$ 3,242	42.4	%	0.2	1.5	1.9
817	2,686	30.4	%	838	2,814	29.8	%	838	2,814	29.8	%	SSEA, CIS & MEA	863	2,613	33.0	%	(2.6)	(3.2)	(3.2)
647	1,478	43.8	%	760	1,699	44.7	%	760	1,699	44.7	%	EA, AU & PMI DF	654	1,625	40.2	%	3.6	4.5	4.5
193	749	25.8	%	208	748	27.8	%	110	535	20.6	%	Americas	124	523	23.7	%	2.1	4.1	(3.1)
(29)	72	(40.3)	%	(35)	82	(42.7)	%	(35)	82	(42.7)	%	Wellness & Healthcare	17	101	16.8	%	(57.1)	(59.5)	(59.5)
$ 2,976	$ 8,152	36.5	%	$ 3,391	$ 9,030	37.6	%	$ 3,262	$ 8,714	37.4	%	Total PMI	$ 3,034	$ 8,104	37.4	%	(0.9)	0.2	—

2022												Full Year Ended December 31	2021				% Points Change
$ 6,075	$ 12,972	46.8	%	$ 7,104	$ 14,548	48.8	%	$ 7,075	$ 14,435	49.0	%	Europe	$ 6,518	$ 13,155	49.5	%	(2.7)	(0.7)	(0.5)
3,920	10,467	37.5	%	4,019	10,886	36.9	%	4,019	10,886	36.9	%	SSEA, CIS & MEA	3,614	10,104	35.8	%	1.7	1.1	1.1
2,452	5,936	41.3	%	2,828	6,571	43.0	%	2,828	6,571	43.0	%	EA, AU & PMI DF	2,931	6,448	45.5	%	(4.2)	(2.5)	(2.5)
548	2,116	25.9	%	559	2,131	26.2	%	461	1,918	24.0	%	Americas	504	1,843	27.3	%	(1.4)	(1.1)	(3.3)
(87)	271	(32.1)	%	(95)	282	(33.7)	%	(67)	93	(71.6)	%	Wellness & Healthcare	17	101	16.8	%	(48.9)	(50.5)	(88.8)
$ 12,908	$ 31,762	40.6	%	$ 14,415	$ 34,418	41.9	%	$ 14,316	$ 33,903	42.2	%	Total PMI	$ 13,584	$ 31,651	42.9	%	(2.3)	(1.0)	(0.7)

(a) For the calculation of Adjusted Operating Income, Adjusted Operating Income excluding currency and Adjusted Operating Income excluding currency and acquisitions, refer to Schedule 5
(b) For the calculation of Adjusted Net Revenues, Adjusted Net Revenues excluding currency and Adjusted Net Revenues excluding currency and acquisitions, refer to Schedule 3

Document and Entity Information	Feb. 27, 2024
Entity Information [Line Items]
Document Type	8-K
Document Period End Date	Feb. 27, 2024
Entity Registrant Name	Philip Morris International Inc.
Entity Central Index Key	0001413329
Amendment Flag	false
Entity Incorporation, State or Country Code	VA
Entity File Number	1-33708
Entity Tax Identification Number	13-3435103
Entity Address, Address Line One	677 Washington Blvd, Ste. 1100
Entity Address, City or Town	Stamford
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06901
City Area Code	203
Local Phone Number	905-2410
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Common Stock [Member]
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, no par value
Trading Symbol	PM
Security Exchange Name	NYSE
2.875% Notes due 2024 - 1 [Member]
Entity Information [Line Items]
Title of 12(b) Security	2.875% Notes due 2024
Trading Symbol	PM24
Security Exchange Name	NYSE
2.875% Notes due 2024 - 2 [Member]
Entity Information [Line Items]
Title of 12(b) Security	2.875% Notes due 2024
Trading Symbol	PM24C
Security Exchange Name	NYSE
0.625% Notes due 2024 [Member]
Entity Information [Line Items]
Title of 12(b) Security	0.625% Notes due 2024
Trading Symbol	PM24B
Security Exchange Name	NYSE
3.250% Notes due 2024 [Member]
Entity Information [Line Items]
Title of 12(b) Security	3.250% Notes due 2024
Trading Symbol	PM24A
Security Exchange Name	NYSE
2.750% Notes due 2025 [Member]
Entity Information [Line Items]
Title of 12(b) Security	2.750% Notes due 2025
Trading Symbol	PM25
Security Exchange Name	NYSE
3.375% Notes due 2025 [Member]
Entity Information [Line Items]
Title of 12(b) Security	3.375% Notes due 2025
Trading Symbol	PM25A
Security Exchange Name	NYSE
2.750% Notes due 2026 [Member]
Entity Information [Line Items]
Title of 12(b) Security	2.750% Notes due 2026
Trading Symbol	PM26A
Security Exchange Name	NYSE
2.875% Notes due 2026 [Member]
Entity Information [Line Items]
Title of 12(b) Security	2.875% Notes due 2026
Trading Symbol	PM26
Security Exchange Name	NYSE
0.125% Notes due 2026 [Member]
Entity Information [Line Items]
Title of 12(b) Security	0.125% Notes due 2026
Trading Symbol	PM26B
Security Exchange Name	NYSE
3.125% Notes due 2027 [Member]
Entity Information [Line Items]
Title of 12(b) Security	3.125% Notes due 2027
Trading Symbol	PM27
Security Exchange Name	NYSE
3.125% Notes due 2028 [Member]
Entity Information [Line Items]
Title of 12(b) Security	3.125% Notes due 2028
Trading Symbol	PM28
Security Exchange Name	NYSE
2.875% Notes due 2029 [Member]
Entity Information [Line Items]
Title of 12(b) Security	2.875% Notes due 2029
Trading Symbol	PM29
Security Exchange Name	NYSE
3.375% Notes due 2029 [Member]
Entity Information [Line Items]
Title of 12(b) Security	3.375% Notes due 2029
Trading Symbol	PM29A
Security Exchange Name	NYSE
0.800% Notes due 2031 [Member]
Entity Information [Line Items]
Title of 12(b) Security	0.800% Notes due 2031
Trading Symbol	PM31
Security Exchange Name	NYSE
3.125% Notes due 2033 [Member]
Entity Information [Line Items]
Title of 12(b) Security	3.125% Notes due 2033
Trading Symbol	PM33
Security Exchange Name	NYSE
2.000% Notes due 2036 [Member]
Entity Information [Line Items]
Title of 12(b) Security	2.000% Notes due 2036
Trading Symbol	PM36
Security Exchange Name	NYSE
1.875% Notes due 2037 [Member]
Entity Information [Line Items]
Title of 12(b) Security	1.875% Notes due 2037
Trading Symbol	PM37A
Security Exchange Name	NYSE
6.375% Notes due 2038 [Member]
Entity Information [Line Items]
Title of 12(b) Security	6.375% Notes due 2038
Trading Symbol	PM38
Security Exchange Name	NYSE
1.450% Notes due 2039 [Member]
Entity Information [Line Items]
Title of 12(b) Security	1.450% Notes due 2039
Trading Symbol	PM39
Security Exchange Name	NYSE
4.375% Notes due 2041 [Member]
Entity Information [Line Items]
Title of 12(b) Security	4.375% Notes due 2041
Trading Symbol	PM41
Security Exchange Name	NYSE
4.500% Notes due 2042 [Member]
Entity Information [Line Items]
Title of 12(b) Security	4.500% Notes due 2042
Trading Symbol	PM42
Security Exchange Name	NYSE
3.875% Notes due 2042 [Member]
Entity Information [Line Items]
Title of 12(b) Security	3.875% Notes due 2042
Trading Symbol	PM42A
Security Exchange Name	NYSE
4.125% Notes due 2043 [Member]
Entity Information [Line Items]
Title of 12(b) Security	4.125% Notes due 2043
Trading Symbol	PM43
Security Exchange Name	NYSE
4.875% Notes due 2043 [Member]
Entity Information [Line Items]
Title of 12(b) Security	4.875% Notes due 2043
Trading Symbol	PM43A
Security Exchange Name	NYSE
4.250% Notes due 2044 [Member]
Entity Information [Line Items]
Title of 12(b) Security	4.250% Notes due 2044
Trading Symbol	PM44
Security Exchange Name	NYSE

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