Earnings per Share:

12 Months Ended

Dec. 31, 2023

Unvested share-based payment awards that contain non-forfeitable rights to dividends or dividend equivalents are participating securities and therefore are included in PMI’s earnings per share calculation pursuant to the two-class method.

Basic and diluted earnings per share (“EPS”) were calculated using the following:


	For the Years Ended December 31,
(in millions)	2023		2022		2021
Net earnings attributable to PMI	$	7,813	$	9,048	$	9,109
Less distributed and undistributed earnings attributable to share-based payment awards	22		24		26
Net earnings for basic and diluted EPS	$	7,791	$	9,024	$	9,083
Weighted-average shares for basic EPS	1,552		1,550		1,558
Plus contingently issuable performance stock units (PSUs) (1)	1		2		1
Weighted-average shares for diluted EPS	1,553		1,552		1,559

(1) Including rounding adjustment

For the 2023, 2022 and 2021 computations, there were no antidilutive stock awards.