PHILIP MORRIS INTERNATIONAL INC. and Subsidiaries Reconciliation of Non-GAAP Measures Reconciliation of Operating Cash Flow to Free Cash Flow and Free Cash Flow as a Percent of Net Revenues Excluding Excise Taxes ($ in millions) (Unaudited) (a) Operating cash flow For the Nine Months Ended For the Years Ended September 30, December 31, Cumulative Total 2011 2010 2009 2008 2008 ~ YTD September 2011 Net cash provided by operating activities 9,568 $ 9,437 $ 7,884 $ 7,935 $ 34,824 $ Less: Capital expenditures 568 713 715 1,099 3,095 Free cash flow 9,000 $ 8,724 $ 7,169 $ 6,836 $ 31,729 $ Exhibit 99.2 (a) |
PHILIP MORRIS INTERNATIONAL INC. and Subsidiaries Reconciliation of Non-GAAP Measures Reconciliation of Reported Diluted EPS to Adjusted Diluted EPS and Adjusted Diluted EPS, Excluding Currency For the Years Ended December 31, (Unaudited) 2010 2009 % Change Reported Diluted EPS 3.92 $ 3.24 $ 21.0% Adjustments: Colombian investment and cooperation agreement charge - 0.04 Tax items (0.07) - Asset impairment and exit costs 0.02 0.01 Adjusted Diluted EPS 3.87 $ 3.29 $ 17.6% Less: Currency Impact 0.12 Adjusted Diluted EPS, excluding Currency 3.75 $ 3.29 $ 14.0% |