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Segment Reporting: (Tables)
12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Data
Net revenues, significant expenses, and operating income by segment were as follows:
(in millions) EuropeSSEA, CIS & MEAEA, AU & PMI GTRAmericasTotal

For the Year Ended December 31, 2025
Net revenues$17,111 $12,051 $6,632 $4,854 $40,648 
Less:
Cost of sales4,501 5,190 1,961 1,714 13,366 
Marketing, administration and research costs5,404 2,765 1,545 2,635 12,349 
Impairment of goodwill41    41 
Operating income$7,165 $4,096 $3,126 $505 $14,892 

For the Year Ended December 31, 2024
Net revenues$15,690 $11,261 $6,393 $4,534 $37,878 
Less:
Cost of sales4,474 5,313 2,011 1,531 13,329 
Marketing, administration and research costs4,669 2,519 1,504 2,455 11,147 
Operating income$6,547 $3,429 $2,878 $548 $13,402 

For the Year Ended December 31, 2023
Net revenues$14,537 $10,629 $6,201 $3,807 $35,174 
Less:
Cost of sales4,321 5,109 1,978 1,485 12,893 
Marketing, administration and research costs4,252 2,384 1,684 1,740 10,060 
Impairment of goodwill665 — — — 665 
Operating income$5,299 $3,136 $2,539 $582 $11,556 
PMI's net revenues by product category were as follows:
For the Years Ended December 31,
(in millions)202520242023
Combustible tobacco:
Europe$8,984 $8,599 $8,037 
SSEA, CIS & MEA
10,233 9,848 9,321 
EA, AU & PMI GTR
2,415 2,516 2,676 
Americas2,163 2,255 2,299 
Total combustible tobacco23,794 23,218 22,334 
Smoke-free:
Europe8,127 7,091 6,500 
of which, Wellness238 333 306 
SSEA, CIS & MEA
1,818 1,413 1,308 
EA, AU & PMI GTR
4,217 3,877 3,525 
Americas2,691 2,279 1,508 
Total Smoke-free16,854 14,660 12,840 
Total PMI net revenues$40,648 $37,878 $35,174 
Note: Sum of product categories or Regions might not foot to total PMI due to rounding.
Other Segment Data
Other segment data were as follows:
For the Years Ended December 31,
(in millions)
202520242023
Depreciation and amortization expense:
Europe$558 $562 $563 
SSEA, CIS & MEA294 304 304 
EA, AU & PMI GTR194 173 144 
Americas950 748 387 
Total depreciation and amortization expense
$1,996 $1,787 $1,398 
PMI’s total property, plant and equipment, net and other assets by geographic area were:
At December 31,
(in millions)
202520242023
Long-lived assets:
Europe$6,619 $5,540 $5,697 
SSEA, CIS & MEA2,209 2,160 2,197 
East Asia and Australia405 378 481 
Americas1,997 1,559 1,310 
Total long-lived assets11,230 9,637 9,685 
Altria Group, Inc. agreement — 2,777 
Financial instruments1,306 456 701 
Total property, plant and equipment, net and Other assets
$12,536 $10,093 $13,163