8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 16, 2011

Philip Morris International Inc.

(Exact name of registrant as specified in its charter)

Virginia	1-33708	13-3435103
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

120 Park Avenue, New York, New York	10017-5592
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (917) 663-2000

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item  8.01. Other Events.

On November 16, 2011, Philip Morris International Inc. (the “Company”) is hosting a live audio webcast of a presentation at the Morgan Stanley Global Consumer & Retail Conference where the Company’s Chairman and Chief Executive Officer, Mr. Louis C. Camilleri, will address investors. In connection with the presentation, the Company has issued a press release announcing the key highlights of the presentation. The press release is attached as Exhibit 99.1 hereto and is incorporated herein by reference. The reconciliations of non-GAAP measures included in the press release to the most comparable GAAP measures are attached as Exhibit 99.2 hereto and are incorporated herein by reference.

The information on the Company’s website referenced in the press release, including the presentation at the Morgan Stanley Global Consumer & Retail Conference, is not, and shall not be deemed to be, part of this Form 8-K or incorporated into any filing the Company makes with the Securities and Exchange Commission, except as expressly set forth in such a filing.

Item  9.01. Exhibits.

(d) Exhibits

99.1	Philip Morris International Inc. Press Release, dated November 16, 2011.
99.2	Reconciliations of Non-GAAP Financial Measures.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

PHILIP MORRIS INTERNATIONAL INC.
By:	/s/    JERRY WHITSON
Name:	Jerry Whitson
Title:	Deputy General Counsel and Corporate Secretary

DATE: November 16, 2011

INDEX EXHIBIT

Exhibit No.	Description
99.1	Philip Morris International Inc. Press Release, dated November 16, 2011.
99.2	Reconciliations of Non-GAAP Financial Measures.

EX-99.1

Exhibit 99.1

PRESS RELEASE
Investor Relations:	Media:
New York: +1 (917) 663 2233	Lausanne: +41 (0)58 242 4500
Lausanne: +41 (0)58 242 4666

PHILIP MORRIS INTERNATIONAL INC. (PMI) PRESENTS AT

MORGAN STANLEY GLOBAL CONSUMER & RETAIL CONFERENCE

NEW YORK, November 16, 2011 – Philip Morris International Inc. (NYSE/Euronext Paris: PM) Chairman and Chief Executive Officer, Louis Camilleri, addresses investors today at the Morgan Stanley Global Consumer & Retail Conference in New York.

The presentation and Q&A session are being webcast live at www.pmi.com, in a listen-only mode, beginning at approximately 12 Noon Eastern Time. An archived copy of the webcast, together with slides, will be available on the same site.

The presentation includes the following key highlights:

• PMI announces that, for the full year 2011, it expects to achieve a reported diluted EPS of at least $4.85, up from its previously disclosed guidance range of $4.75 to $4.80. Compared to our adjusted diluted EPS of $3.87 in 2010, this represents a growth rate of approximately 25.0%, or 20.0% after excluding an expected favorable currency variance of approximately 20 cents for the full year;

• Barring any unforeseen major disruption, PMI expects to again meet its mid to long-term constant currency annual adjusted diluted EPS growth target of 10% to 12% in 2012;

• Over the next five years, PMI expects cigarette industry volume outside the USA to increase up to 1.3% a year, driven by growth in China and non-OECD markets. The forecast trend for the industry, excluding China and the USA, is between stability and a 1.3% annual decline, an improved outlook compared to previous forecasts; PMI expects to continue to outperform the industry thanks to its excellent business momentum;

• PMI believes it will exit 2011 with a national market share in Japan of approximately 28.5%;

• On a year-to-date basis through September, 2011, PMI has exceeded $1.6 billion in pricing variance and expects a favorable pricing environment to continue in 2012;

• PMI will comfortably surpass its targeted annual pretax cost savings of $250 million for 2011;

• On a year-to-date basis through September, 2011, PMI has generated $9.0 billion in free cash flow, thus already surpassing its full year 2010 total of $8.7 billion; and

• Since PMI’s spin-off in March 2008, the company has increased its annual dividend by 67.4% to $3.08 per share and has returned nearly $35 billion to its shareholders through dividends and share repurchases.

The presentation, related discussion and this release contain statements that, to the extent they do not relate strictly to historical or current facts, constitute “forward-looking statements” within the meaning of the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on current plans, estimates and expectations, and are not guarantees of future performance. They are based on management’s expectations that involve a number of business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements.

The risks and uncertainties relating to the forward-looking statements in the presentation, related discussion and this release include those described under Item 1A. “Risk Factors” in PMI’s Form 10-Q for the quarter ended September 30, 2011, filed with the Securities and Exchange Commission. PMI does not undertake to publicly update or revise any forward-looking statements, except in the normal course of its public disclosure obligations.

A glossary of terms and reconciliations of non-GAAP measures included in the presentation to the most comparable GAAP measures are provided either at the end of the presentation or are available on PMI’s web site.

###

Philip Morris International Inc. Profile

Philip Morris International Inc. (PMI) is the leading international tobacco company, with seven of the world’s top 15 international brands, including Marlboro, the number one cigarette brand worldwide. PMI’s products are sold in approximately 180 countries. In 2010, the company held an estimated 16.0% share of the total international cigarette market outside of the U.S., or 27.6% excluding the People’s Republic of China and the U.S. For more information, see www.pmi.com.

2

EX-99.2

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%