Earnings per Share:

12 Months Ended

Dec. 31, 2024

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)	2024		2023		2022
Net earnings attributable to PMI	$	7,057	$	7,813	$	9,048
Less distributed and undistributed earnings attributable to share-based payment awards (1)	23		22		24
Net earnings for basic and diluted EPS	$	7,034	$	7,791	$	9,024
Weighted-average shares for basic EPS	1,554		1,552		1,550
Plus contingently issuable performance stock units (PSUs) (1)	2		1		2
Weighted-average shares for diluted EPS	1,556		1,553		1,552

(1) Including rounding adjustment

For the 2024, 2023 and 2022 computations, there were no antidilutive stock awards.