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Philip Morris International

This article is about the tobacco company. For the sponsored golf tournament, see Philip Morris International (golf).

Philip Morris International Inc.
Company typePublic
IndustryTobacco
Founded
  • 2008 (2008) (spin-off company)
  • 1847 (1847) (original)
FounderPhilip Morris
Headquarters
Area served
Worldwide
Key people
ProductsCigarettes, cigarillos, cigars, electronic cigarettes, heated tobacco products, nicotine pouches, snus
BrandsIqos, L&M, Marlboro, Zyn
Revenue Increase US$35.174 billion (2023)[1]
Decrease US$11.556 billion (2023)[1]
Decrease US$7.813 billion (2023)[1]
Total assetsIncrease US$65.304 billion (2023)[1]
Total equityDecrease -US$11.225 billion (2023)[2]
Number of employees
82,700 (2023)[1]
Subsidiaries
Websitewww.pmi.com
Footnotes / references
[3]

Philip Morris International Inc. (PMI) is an American multinational tobacco company, with products sold in over 180 countries. The most recognized and best selling product of the company is Marlboro.[4] Philip Morris International is often referred to as one of the companies comprising Big Tobacco.

Until spun off in March 2008, Philip Morris International was an operating company of Altria. Altria explained the spin-off, arguing PMI would have more "freedom," i.e. leeway outside the responsibilities and standards of American corporate ownership in terms of potential litigation and legislative restrictions to "pursue sales growth in emerging markets", while Altria focuses on the American domestic market.[5] The shareholders in Altria at the time were given shares in PMI, which was listed on the London Stock Exchange and other markets.

The company's legal seat is in Stamford, Connecticut, but it does not operate in the United States of America. Philip Morris USA, a subsidiary of PMI's former owner American parent Altria group, owns the Philip Morris brands there. PMI's operational headquarters are in Lausanne, Switzerland. He employs more than 1,500 people.[6]

With tobacco being addictive and the single greatest cause of preventable death globally,[7] the company is highly controversial, not least because of its history of obfuscating scientific evidence around the health effects of smoking. It has been the subject of litigation and restrictive legislation from governments.

The company ranked No. 128 in the 2023 Fortune 500 list of the largest corporations by total revenue.[8] In 2022, the company's revenue in Russia amounted to 400 billion rubles.[9]

  1. ^ a b c d e "Philip Morris International Inc. 2023 Annual Report" (PDF). PMI. 31 December 2023.
  2. ^ "Philip Morris International Key Financials". Fortune.
  3. ^ "US SEC: Form 10-K Philip Morris International Inc" (PDF). United States Securities and Exchange Commission. Retrieved 28 March 2018.
  4. ^ Cite error: The named reference :1 was invoked but never defined (see the help page).
  5. ^ "Altria to spin off Philip Morris International". NBC News. AP. 29 August 2007. Retrieved 19 December 2011.
  6. ^ "About us". www.pmi.com. Retrieved 8 May 2020.
  7. ^ WHO Report on the Global Tobacco Epidemic, 2008: the MPOWER package (PDF). Geneva: World Health Organization. 2008. ISBN 978-92-4-159628-2. Archived from the original (PDF) on 8 March 2008.
  8. ^ "Philip Morris International". Fortune. Retrieved 5 August 2021.
  9. ^ "ООО "ФМСМ"". www.rusprofile.ru (in Russian). Retrieved 30 November 2023.

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