New York-based Philip Morris International was spun off by Altria Group (MO - Get Report) in 2008, in a $100 billion transaction. That spinoff, however, did not include Philip Morris USA Inc., which is still part of Altria.
Philip Morris International's business sells well-known cigarette brands such as Marlboro and Parliament outside of the U.S., with a 16.3% market share in 2012 including China.
The company had net revenue of about $77 billion in 2012, approximately $46 billion of which consisted of excise taxes, while it generated about $8.8 billion in net earnings.
Written by Richard Collings in New York