菲利普莫里斯国际公司Philip Morris International (PM) 2011年年度报告「NYSE」.pdf

1、AA2011 Annual ReportIn each and every aspect,our 2011 results were simply superb.,Contents 1 Letter to Shareholders 4 Driving Shareholder Value 13 Charitable Giving Programs 14 2011 Business Highlights 16 Board of Directors and Company Management 17 Financial Review 84 Reconciliation of Non-GAAP Mea

2、sures 86 Comparison of Cumulative Total Return 87 Shareholder Information*The chart assumes an investment period of January 1,2011,to December 31,2011,and the reinvestment of dividends on a quarterly basis.Exchange rates are as of January 1,2011 and December 31,2011.Peer groups represent the market-

3、weighted average return of the group.The PMI Peer Group is defined on page 86.The Tobacco Peer Group is defined as Altria Group,Inc.,British American Tobacco plc,Imperial Tobacco Group PLC,Japan Tobacco Inc.,Lorillard Inc.and Reynolds American Inc.Source:FactSet,compiled by Centerview.Excluding exci

4、se taxes *Defined as net cash provided by operating activities less capital expenditures.Excluding acquisitions Excluding currency and acquisitions Excluding currencyNote:References to organic volume in this Annual Report are to volume excluding acquisitions,which also include our 2010 business comb

5、ination with Fortune Tobacco Corporation in the Philippines.Operating Companies Income(OCI)is defined as operating income before corporate expenses and amortization of intangibles.EPS refers to earnings per share.*PHILIP MORRIS INTERNATIONAL INC.39.8%TOBACCO PEER GROUP 30.2%PMI PEER GROUP 14.0%S&P 5

6、00 INDEX2011 TOTAL SHAREHOLDER RETURN US$*2.1%DRIVING SHAREHOLDER VALUEDRIVING SHAREHOLDER VALUEDRIVING SHAREHOLDER VALUEDRIVING SHAREHOLDER VALUEDRIVING SHAREHOLDER VALUEDRIVING SHAREHOLDER VALUEDRIVING SHAREHOLDER VALUEDRIVING SHAREHOLDER VALUE$13.7BILLIoN ADjuSTeD oCI,uP By 14.0%DRIVING SHAREHOLD