v3.26.3
Condensed Consolidated Statements of Earnings - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
Income Statement [Abstract]        
Net revenues (Note 13) $ 11,438 [1],[2] $ 10,845 [1],[2] $ 32,776 [3],[4] $ 30,286 [3],[4]
Cost of sales (Note 1) 3,584 3,484 10,358 9,789
Gross profit 7,854 7,361 22,418 20,497
Marketing, administration and research costs (Notes 1 & 15) 2,993 3,058 8,831 8,474
Impairment of goodwill (Note 5) 0   0 41
Corporate expenses and other (Note 1) (5) 40 298 463
Operating income 4,866 4,263 13,289 11,519
Interest expense, net 199 230 679 748
Pension and other employee benefit costs (Note 4) 73 14 63 37
Earnings before income taxes 4,594 4,019 12,547 10,734
Provision for income taxes 986 751 2,617 2,062
Impairment related to the RBH equity investment (Note 13)     511 0
Equity investments and securities (income)/loss, net (Note 13) 86 (345) 330 (926)
Net earnings 3,522 3,613 9,089 9,598
Net earnings attributable to noncontrolling interests 209 135 521 391
Net earnings attributable to PMI $ 3,313 $ 3,478 $ 8,568 $ 9,207
Per share data (Note 7):        
Basic earnings per share (in dollars per share) $ 2.12 $ 2.23 $ 5.49 $ 5.90
Diluted earnings per share (in dollars per share) $ 2.12 $ 2.23 $ 5.48 $ 5.89
[1] Includes net revenues from related parties of $1,312 million and $1,307 million for the three months ended September 30, 2026 and 2025, respectively.
[2] Net revenues are shown net of excise tax on products. For the three months ended September 30, 2026 and 2025, excise tax on products was $15,139 million and $14,221 million, respectively.
[3] Includes net revenues from related parties of $3,752 million and $3,387 million for the nine months ended September 30, 2026 and 2025, respectively.
[4] Net revenues are shown net of excise tax on products. For the nine months ended September 30, 2026 and 2025, excise tax on products was $42,965 million and $39,495 million, respectively.