Business Context and Reporting Period
This Form 8-K Current Report was filed by Philip Morris International Inc. on February 9, 2009. The filing serves to provide the consolidated financial statements for the three-year period ended December 31, 2008, including balance sheets, statements of earnings, stockholders' equity, and cash flows. These documents are intended to be incorporated by reference into the company's Annual Report on Form 10-K for the year ended December 31, 2008.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. It confirms the existence of the following financial statements as exhibits but does not summarize their data within the body of this 8-K:
- Consolidated Balance Sheets (as of December 31, 2008 and 2007)
- Consolidated Statements of Earnings (for the three years ended December 31, 2008)
- Consolidated Statements of Stockholders' Equity
- Consolidated Statements of Cash Flows
- Statement regarding computation of ratios of earnings to fixed charges
Material Changes
The filing text does not contain a narrative discussion of material changes versus prior periods. Investors must refer to the attached Financial Statements (Exhibit 99.1) to analyze year-over-year performance changes.
Guidance, Outlook, and Risks
This filing does not include management commentary, forward-looking guidance, or specific risk factors. It does, however, include:
- A report of management on internal control over financial reporting.
- A report from the independent registered public accounting firm on the Financial Statements and the effectiveness of internal controls.
Investor Verification Checklist
- Review Exhibit 99.1 for the actual financial data (revenue, net income, cash flow) for the years 2006, 2007, and 2008.
- Examine the Independent Registered Public Accounting Firm's Report (Exhibit 99.3) for any qualifications or emphasis of matter regarding the 2008 financial statements.
- Verify the Statement regarding computation of ratios of earnings to fixed charges (Exhibit 12) to assess debt service coverage.
- Confirm the effectiveness of internal controls as stated in the Management Report (Exhibit 99.2).