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Indebtedness: (Tables)
12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Short-term Debt
At December 31, 2025 and 2024, PMI’s short-term borrowings and related average interest rates consisted of the following:
December 31, 2025December 31, 2024
(in millions)Amount OutstandingAverage Year-End RateAmount OutstandingAverage Year-End Rate
Commercial paper
$  %$— — %
Bank loans
168 10.3 137 8.6 
$168 $137 
Long-Term Debt
At December 31, 2025 and 2024, PMI’s long-term debt consisted of the following:
December 31,
(in millions)
20252024
U.S. dollar notes, 0.875% to 6.375% (average interest rate 4.623%), due through 2044
$37,430 $35,297 
Foreign currency obligations:
Euro notes, 0.125% to 3.750% (average interest rate 2.162%), due through 2039
7,942 7,082 
Euro credit facility borrowing related to Swedish Match AB acquisition, (interest rate 2.553%), due 2027
2,944 2,610 
Swedish krona notes, 1.395% to 2.710% (average interest rate 2.016%), due through 2029
267 218 
Other (average interest rate 4.050%), due through 2032 (a)
84 351 
Carrying value of long-term debt48,667 45,558 
Less current portion of long-term debt
3,533 3,392 
$45,134 $42,166 
(a) At December 31, 2025, represents $84 million in finance leases; at December 31, 2024 represents long-term bank loans at subsidiaries, as well as $67 million in finance leases.
Schedule of Fair Value of Outstanding Long-Term Debt, Excluding Finance Leases At December 31, 2025 and 2024 the fair value of PMI's outstanding long-term debt, excluding the aforementioned finance leases, was as follows:
December 31,
(in millions)
20252024
Level 1$45,288 $41,431 
Level 23,085 3,011 
At December 31, 2025 and 2024, the fair values of PMI's certain other investments were as follows:

December 31,
(in millions)
20252024
Level 1, U.S. dollar denominated bonds in Argentina$189 $125 
Level 2, Indonesian rupiah denominated bonds in Indonesia27 — 
Debt Issuances Outstanding
PMI’s notes outstanding at December 31, 2025, were as follows:
(in millions)
Type
Face ValueInterest
Rate
IssuanceMaturity
U.S. dollar notes
$7502.750%February 2016February 2026
U.S. dollar notes
$7500.875%November 2020May 2026
U.S. dollar notes
$7504.750%February 2024February 2027
U.S. dollar notes
$5003.125%August 2017August 2027
U.S. dollar notes
$7504.375%November 2024November 2027
U.S. dollar notes
$1,5005.125%November 2022November 2027
U.S. dollar notes
$1,0004.875%February 2023February 2028
U.S. dollar notes
(a)$5504.875%May 2023February 2028
U.S. dollar notes
$5003.125%November 2017March 2028
U.S. dollar notes
$400FloatingApril 2025April 2028
U.S. dollar notes
$7504.125%April 2025April 2028
U.S. dollar notes
(b)
$504.000%May 2013May 2028
U.S. dollar notes
$6505.250%September 2023September 2028
U.S. dollar notes
$300FloatingOctober 2025October 2028
U.S. dollar notes
$7503.875%October 2025October 2028
U.S. dollar notes
$1,0004.875%February 2024February 2029
U.S. dollar notes
$7503.375%May 2019August 2029
U.S. dollar notes
$7504.625%November 2024November 2029
U.S. dollar notes
$1,2505.625%November 2022November 2029
U.S. dollar notes
$1,5005.125%February 2023February 2030
U.S. dollar notes
(c)$7005.125%May 2023February 2030
U.S. dollar notes
$7504.375%April 2025April 2030
U.S. dollar notes
$7502.100%May 2020May 2030
U.S. dollar notes
$7005.500%September 2023September 2030
U.S. dollar notes
$7504.000%October 2025October 2030
U.S. dollar notes
$7501.750%November 2020November 2030
U.S. dollar notes
$1,2505.125%February 2024February 2031
U.S. dollar notes
$7504.750%November 2024November 2031
U.S. dollar notes
$8504.250%October 2025October 2032
U.S. dollar notes
$1,5005.750%November 2022November 2032
U.S. dollar notes
$1,5005.375%February 2023February 2033
U.S. dollar notes
(d)$7505.375%May 2023February 2033
U.S. dollar notes
$1,0005.625%September 2023September 2033
U.S. dollar notes
$1,7505.250%February 2024February 2034
U.S. dollar notes
$7504.900%November 2024November 2034
U.S. dollar notes
$6004.875%April 2025April 2035
U.S. dollar notes
$8504.625%October 2025October 2035
U.S. dollar notes
$1,5006.375%May 2008May 2038
U.S. dollar notes
$7504.375%November 2011November 2041
U.S. dollar notes
$7004.500%March 2012March 2042
U.S. dollar notes
$7503.875%August 2012August 2042
U.S. dollar notes
$8504.125%March 2013March 2043
U.S. dollar notes
$7504.875%November 2013November 2043
(in millions)
Type
Face ValueInterest
Rate
IssuanceMaturity
U.S. dollar notes
$7504.250%November 2014November 2044
U.S. dollar notes
(e)
$5004.250%May 2016November 2044
EURO notes
(f)
€1,000 (approximately $1,372)
2.875%March 2014March 2026
EURO notes
(f)
€500 (approximately $557)
0.125%August 2019August 2026
EURO notes
(b)
€300 (approximately $308)
0.875%February 2020February 2027
EURO notes
(f)
€500 (approximately $697)
2.875%May 2014May 2029
EURO notes
(f)
€500 (approximately $569)
2.750%June 2025June 2029
EURO notes (f)
€500 (approximately $543)
3.750%June 2024January 2031
EURO notes
(f)
€750 (approximately $835)
0.800%August 2019August 2031
EURO notes
(f)
€500 (approximately $569)
3.250%June 2025June 2032
EURO notes
(f)
€500 (approximately $648)
3.125%June 2013June 2033
EURO notes
(f)
€500 (approximately $578)
2.000%May 2016May 2036
EURO notes
(f)
€500 (approximately $582)
1.875%November 2017November 2037
EURO notes
(f)
€750 (approximately $835)
1.450%August 2019August 2039
Swedish krona notes
(b)
SEK1,000 (approximately $95)
2.710%January 2019January 2026
Swedish krona notes(b)
SEK700 (approximately $67)
1.395%February 2021February 2026
Swedish krona notes(b)
SEK100 (approximately $10)
1.395%March 2021February 2026
Swedish krona notes(b)
SEK200 (approximately $19)
1.395%September 2021February 2026
Swedish krona notes(b)
SEK200 (approximately $19)
1.395%January 2022February 2026
Swedish krona notes(b)
SEK300 (approximately $29)
2.190%April 2021April 2029
(a) These notes are a further issuance of the 4.875% notes issued in February 2023.
(b) Notes issued by Swedish Match AB. USD equivalents for foreign currency notes were calculated based on exchange rates on the date of acquisition.
(c) These notes are a further issuance of the 5.125% notes issued in February 2023.
(d) These notes are a further issuance of the 5.375% notes issued in February 2023.
(e) These notes are a further issuance of the 4.250% notes issued by PMI in November 2014.
(f) USD equivalents for foreign currency notes were calculated based on exchange rates on the date of issuance.
Schedule of Maturities of Long-term Debt
Aggregate maturities of long-term debt are as follows:
(in millions)
2026$3,540 
20276,816 
20284,968 
20294,968 
20305,903 
2031-203514,199 
2036-20403,561 
Thereafter5,050 
49,005 
Debt discounts and fair value adjustments(338)
Total long-term debt$48,667 
Schedule of Committed Credit Facilities
At December 31, 2025, PMI’s total committed revolving credit facilities were as follows:
Type
(in billions)
Committed Revolving Credit Facilities
Multi-year $2.0 billion revolving credit, expiring February 10, 2026 (1)
$2.0 
Multi-year $2.5 billion revolving credit, expiring September 29, 2026 (2) (3)
2.5 
Multi-year €1.5 billion revolving credit, expiring January 29, 2028
1.8 
Total facilities
$6.3 
(1) On January 28, 2022, PMI entered into an agreement, effective February 10, 2022, to amend and extend the term of its $2.0 billion multiyear
revolving credit facility, for an additional year covering the period February 11, 2026 to February 10, 2027, in the amount of $1.9 billion.
(2) Includes pricing adjustments that may result in the reduction or increase in both the interest rate and commitment fee under the credit agreement if PMI achieves, or fails to achieve, certain specified targets.
(3) On September 20, 2022, PMI entered into an agreement, effective September 29, 2022, to amend and extend the term of its $2.5 billion multi-year revolving credit facility, for an additional year covering the period September 30, 2026 to September 29, 2027, in the amount of $2.3 billion. On September 20, 2023, PMI entered into an agreement, effective September 29, 2023, to amend and further extend the term to September 29, 2028.