XML 24 R2.htm IDEA: XBRL DOCUMENT v3.20.2
Condensed Consolidated Statements of Earnings - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Income Statement [Abstract]        
Revenues including excise taxes $ 17,819 $ 19,987 $ 36,072 $ 37,692
Excise taxes on products 11,168 12,288 22,268 23,242
Net revenues 6,651 7,699 13,804 14,450
Cost of sales 2,179 2,665 4,581 5,130
Gross profit 4,472 5,034 9,223 9,320
Marketing, administration and research costs (Notes 8, 18 & 19) 1,722 1,831 3,666 4,048
Amortization of intangibles 19 16 37 35
Operating income 2,731 3,187 5,520 5,237
Interest expense, net 162 150 291 302
Pension and other employee benefit costs (Note 3) 22 20 45 41
Earnings before income taxes 2,547 3,017 5,184 4,894
Provision for income taxes 528 611 1,124 1,035
Equity investments and securities (income)/loss, net (30) (30) 24 (41)
Net earnings 2,049 2,436 4,036 3,900
Net earnings attributable to noncontrolling interests 102 117 263 227
Net earnings attributable to PMI $ 1,947 $ 2,319 $ 3,773 $ 3,673
Per share data:        
Basic earnings per share (in dollars per share) $ 1.25 $ 1.49 $ 2.42 $ 2.36
Diluted earnings per share (in dollars per share) $ 1.25 $ 1.49 $ 2.42 $ 2.36