Condensed Consolidating Financial Information (Tables)
|
9 Months Ended |
Sep. 30, 2016 |
|---|
| Organization, Consolidation and Presentation of Financial Statements [Abstract] |
|
| Condensed Consolidating Balance Sheet |
Condensed Consolidating Balance Sheets September 30, 2016 (in millions of dollars) | | | | | | | | | | | | | | | | | | | | | | | | Altria Group, Inc. |
| | PM USA |
| | Non- Guarantor Subsidiaries |
| | Total Consolidating Adjustments |
| | Consolidated |
| Assets | | | | | | | | | | | Cash and cash equivalents | | $ | 2,239 |
| | $ | 1 |
| | $ | 58 |
| | $ | — |
| | $ | 2,298 |
| Receivables | | — |
| | 7 |
| | 139 |
| | — |
| | 146 |
| Inventories: | | | | | | | | | | | Leaf tobacco | | — |
| | 510 |
| | 334 |
| | — |
| | 844 |
| Other raw materials | | — |
| | 114 |
| | 60 |
| | — |
| | 174 |
| Work in process | | — |
| | 6 |
| | 404 |
| | — |
| | 410 |
| Finished product | | — |
| | 133 |
| | 419 |
| | — |
| | 552 |
| | | — |
| | 763 |
| | 1,217 |
| | — |
| | 1,980 |
| Due from Altria Group, Inc. and subsidiaries | | — |
| | 3,673 |
| | 1,453 |
| | (5,126 | ) | | — |
| Deferred income taxes | | — |
| | 1,277 |
| | 9 |
| | (98 | ) | | 1,188 |
| Other current assets | | 573 |
| | 238 |
| | 50 |
| | (70 | ) | | 791 |
| Total current assets | | 2,812 |
| | 5,959 |
| | 2,926 |
| | (5,294 | ) | | 6,403 |
| Property, plant and equipment, at cost | | — |
| | 2,983 |
| | 1,837 |
| | — |
| | 4,820 |
| Less accumulated depreciation | | — |
| | 2,082 |
| | 769 |
| | — |
| | 2,851 |
| | | — |
| | 901 |
| | 1,068 |
| | — |
| | 1,969 |
| Goodwill | | — |
| | — |
| | 5,285 |
| | — |
| | 5,285 |
| Other intangible assets, net | | — |
| | 2 |
| | 12,040 |
| | — |
| | 12,042 |
| Investment in SABMiller | | 5,826 |
| | — |
| | — |
| | — |
| | 5,826 |
| Investment in consolidated subsidiaries | | 11,805 |
| | 2,714 |
| | — |
| | (14,519 | ) | | — |
| Finance assets, net | | — |
| | — |
| | 1,046 |
| | — |
| | 1,046 |
| Due from Altria Group, Inc. and subsidiaries | | 4,790 |
| | — |
| | — |
| | (4,790 | ) | | — |
| Other assets | | 18 |
| | 537 |
| | 144 |
| | (336 | ) | | 363 |
| Total Assets | | $ | 25,251 |
| | $ | 10,113 |
| | $ | 22,509 |
| | $ | (24,939 | ) | | $ | 32,934 |
|
Condensed Consolidating Balance Sheets (Continued) September 30, 2016 (in millions of dollars) | | | | | | | | | | | | | | | | | | | | | | | | Altria Group, Inc. |
| | PM USA |
| | Non- Guarantor Subsidiaries |
| | Total Consolidating Adjustments |
| | Consolidated |
| Liabilities | | | | | | | | | | | Accounts payable | | $ | 3 |
| | $ | 86 |
| | $ | 207 |
| | $ | — |
| | $ | 296 |
| Accrued liabilities: | | | | | | | | | | | Marketing | | — |
| | 681 |
| | 116 |
| | — |
| | 797 |
| Employment costs | | 80 |
| | 7 |
| | 129 |
| | — |
| | 216 |
| Settlement charges | | — |
| | 3,422 |
| | 7 |
| | — |
| | 3,429 |
| Other | | 301 |
| | 517 |
| | 314 |
| | (168 | ) | | 964 |
| Dividends payable | | 1,193 |
| | — |
| | — |
| | — |
| | 1,193 |
| Due to Altria Group, Inc. and subsidiaries | | 4,850 |
| | 266 |
| | 10 |
| | (5,126 | ) | | — |
| Total current liabilities | | 6,427 |
| | 4,979 |
| | 783 |
| | (5,294 | ) | | 6,895 |
| Long-term debt | | 13,878 |
| | — |
| | — |
| | — |
| | 13,878 |
| Deferred income taxes | | 1,694 |
| | — |
| | 4,249 |
| | (336 | ) | | 5,607 |
| Accrued pension costs | | 193 |
| | — |
| | 670 |
| | — |
| | 863 |
| Accrued postretirement health care costs | | — |
| | 1,459 |
| | 837 |
| | — |
| | 2,296 |
| Due to Altria Group, Inc. and subsidiaries | | — |
| | — |
| | 4,790 |
| | (4,790 | ) | | — |
| Other liabilities | | 115 |
| | 164 |
| | 133 |
| | — |
| | 412 |
| Total liabilities | | 22,307 |
| | 6,602 |
| | 11,462 |
| | (10,420 | ) | | 29,951 |
| Contingencies | |
|
| |
|
| |
|
| |
|
| |
|
| Redeemable noncontrolling interest | | — |
| | — |
| | 36 |
| | — |
| | 36 |
| Stockholders’ Equity | | | | | | | | | | | Common stock | | 935 |
| | — |
| | 9 |
| | (9 | ) | | 935 |
| Additional paid-in capital | | 5,864 |
| | 3,310 |
| | 11,585 |
| | (14,895 | ) | | 5,864 |
| Earnings reinvested in the business | | 27,816 |
| | 467 |
| | 1,213 |
| | (1,680 | ) | | 27,816 |
| Accumulated other comprehensive losses | | (3,278 | ) | | (266 | ) | | (1,799 | ) | | 2,065 |
| | (3,278 | ) | Cost of repurchased stock | | (28,393 | ) | | — |
| | — |
| | — |
| | (28,393 | ) | Total stockholders’ equity attributable to Altria Group, Inc. | | 2,944 |
| | 3,511 |
| | 11,008 |
| | (14,519 | ) | | 2,944 |
| Noncontrolling interests | | — |
| | — |
| | 3 |
| | — |
| | 3 |
| Total stockholders’ equity | | 2,944 |
| | 3,511 |
| | 11,011 |
| | (14,519 | ) | | 2,947 |
| Total Liabilities and Stockholders’ Equity | | $ | 25,251 |
| | $ | 10,113 |
| | $ | 22,509 |
| | $ | (24,939 | ) | | $ | 32,934 |
|
Condensed Consolidating Balance Sheets December 31, 2015 (in millions of dollars) | | | | | | | | | | | | | | | | | | | | | | | | Altria
Group, Inc. |
| | PM USA |
| | Non-
Guarantor
Subsidiaries |
| | Total
Consolidating
Adjustments |
| | Consolidated |
| Assets | | | | | | | | | | | Cash and cash equivalents | | $ | 2,313 |
| | $ | — |
| | $ | 56 |
| | $ | — |
| | $ | 2,369 |
| Receivables | | — |
| | 7 |
| | 117 |
| | — |
| | 124 |
| Inventories: | | | | | | | | | | | Leaf tobacco | | — |
| | 562 |
| | 395 |
| | — |
| | 957 |
| Other raw materials | | — |
| | 123 |
| | 58 |
| | — |
| | 181 |
| Work in process | | — |
| | 5 |
| | 439 |
| | — |
| | 444 |
| Finished product | | — |
| | 121 |
| | 328 |
| | — |
| | 449 |
| | | — |
| | 811 |
| | 1,220 |
| | — |
| | 2,031 |
| Due from Altria Group, Inc. and subsidiaries | | — |
| | 3,821 |
| | 1,807 |
| | (5,628 | ) | | — |
| Deferred income taxes | | — |
| | 1,268 |
| | 7 |
| | (100 | ) | | 1,175 |
| Other current assets | | 284 |
| | 65 |
| | 112 |
| | (74 | ) | | 387 |
| Total current assets | | 2,597 |
| | 5,972 |
| | 3,319 |
| | (5,802 | ) | | 6,086 |
| Property, plant and equipment, at cost | | — |
| | 3,102 |
| | 1,775 |
| | — |
| | 4,877 |
| Less accumulated depreciation | | — |
| | 2,157 |
| | 738 |
| | — |
| | 2,895 |
| | | — |
| | 945 |
| | 1,037 |
| | — |
| | 1,982 |
| Goodwill | | — |
| | — |
| | 5,285 |
| | — |
| | 5,285 |
| Other intangible assets, net | | — |
| | 2 |
| | 12,026 |
| | — |
| | 12,028 |
| Investment in SABMiller | | 5,483 |
| | — |
| | — |
| | — |
| | 5,483 |
| Investment in consolidated subsidiaries | | 11,648 |
| | 2,715 |
| | — |
| | (14,363 | ) | | — |
| Finance assets, net | | — |
| | — |
| | 1,239 |
| | — |
| | 1,239 |
| Due from Altria Group, Inc. and subsidiaries | | 4,790 |
| | — |
| | — |
| | (4,790 | ) | | — |
| Other assets | | 20 |
| | 536 |
| | 131 |
| | (327 | ) | | 360 |
| Total Assets | | $ | 24,538 |
| | $ | 10,170 |
| | $ | 23,037 |
| | $ | (25,282 | ) | | $ | 32,463 |
|
Condensed Consolidating Balance Sheets (Continued) December 31, 2015 (in millions of dollars)
| | | | | | | | | | | | | | | | | | | | | | | | Altria
Group, Inc. |
| | PM USA |
| | Non-
Guarantor
Subsidiaries |
| | Total
Consolidating
Adjustments |
| | Consolidated |
| Liabilities | | | | | | | | | | | Current portion of long-term debt | | $ | — |
| | $ | — |
| | $ | 4 |
| | $ | — |
| | $ | 4 |
| Accounts payable | | 3 |
| | 104 |
| | 293 |
| | — |
| | 400 |
| Accrued liabilities: | | | | | | | | | | | Marketing | | — |
| | 586 |
| | 109 |
| | — |
| | 695 |
| Employment costs | | 18 |
| | 11 |
| | 169 |
| | — |
| | 198 |
| Settlement charges | | — |
| | 3,585 |
| | 5 |
| | — |
| | 3,590 |
| Other | | 354 |
| | 616 |
| | 285 |
| | (174 | ) | | 1,081 |
| Dividends payable | | 1,110 |
| | — |
| | — |
| | — |
| | 1,110 |
| Due to Altria Group, Inc. and subsidiaries | | 5,427 |
| | 191 |
| | 10 |
| | (5,628 | ) | | — |
| Total current liabilities | | 6,912 |
| | 5,093 |
| | 875 |
| | (5,802 | ) | | 7,078 |
| Long-term debt | | 12,831 |
| | — |
| | 12 |
| | — |
| | 12,843 |
| Deferred income taxes | | 1,547 |
| | — |
| | 4,443 |
| | (327 | ) | | 5,663 |
| Accrued pension costs | | 215 |
| | — |
| | 1,062 |
| | — |
| | 1,277 |
| Accrued postretirement health care costs | | — |
| | 1,460 |
| | 785 |
| | — |
| | 2,245 |
| Due to Altria Group, Inc. and subsidiaries | | — |
| | — |
| | 4,790 |
| | (4,790 | ) | | — |
| Other liabilities | | 153 |
| | 126 |
| | 168 |
| | — |
| | 447 |
| Total liabilities | | 21,658 |
| | 6,679 |
| | 12,135 |
| | (10,919 | ) | | 29,553 |
| Contingencies | |
|
| |
|
| |
|
| |
|
| |
|
| Redeemable noncontrolling interest | | — |
| | — |
| | 37 |
| | — |
| | 37 |
| Stockholders’ Equity | | | | | | | | | | | Common stock | | 935 |
| | — |
| | 9 |
| | (9 | ) | | 935 |
| Additional paid-in capital | | 5,813 |
| | 3,310 |
| | 11,456 |
| | (14,766 | ) | | 5,813 |
| Earnings reinvested in the business | | 27,257 |
| | 436 |
| | 1,099 |
| | (1,535 | ) | | 27,257 |
| Accumulated other comprehensive losses | | (3,280 | ) | | (255 | ) | | (1,692 | ) | | 1,947 |
| | (3,280 | ) | Cost of repurchased stock | | (27,845 | ) | | — |
| | — |
| | — |
| | (27,845 | ) | Total stockholders’ equity attributable to Altria Group, Inc. | | 2,880 |
| | 3,491 |
| | 10,872 |
| | (14,363 | ) | | 2,880 |
| Noncontrolling interests | | — |
| | — |
| | (7 | ) | | — |
| | (7 | ) | Total stockholders’ equity | | 2,880 |
| | 3,491 |
| | 10,865 |
| | (14,363 | ) | | 2,873 |
| Total Liabilities and Stockholders’ Equity | | $ | 24,538 |
| | $ | 10,170 |
| | $ | 23,037 |
| | $ | (25,282 | ) | | $ | 32,463 |
|
|
| Condensed Consolidating Statements of Earnings and Comprehensive Earnings |
Condensed Consolidating Statements of Earnings and Comprehensive Earnings For the Nine Months Ended September 30, 2016 (in millions of dollars)
| | | | | | | | | | | | | | | | | | | | | | | | Altria
Group, Inc. |
| | PM USA |
| | Non-
Guarantor
Subsidiaries |
| | Total
Consolidating
Adjustments |
| | Consolidated |
| Net revenues | | $ | — |
| | $ | 16,874 |
| | $ | 2,646 |
| | $ | (28 | ) | | $ | 19,492 |
| Cost of sales | | — |
| | 5,084 |
| | 785 |
| | (28 | ) | | 5,841 |
| Excise taxes on products | | — |
| | 4,723 |
| | 165 |
| | — |
| | 4,888 |
| Gross profit | | — |
| | 7,067 |
| | 1,696 |
| | — |
| | 8,763 |
| Marketing, administration and research costs | | 113 |
| | 1,435 |
| | 323 |
| | — |
| | 1,871 |
| Asset impairment and exit costs | | 5 |
| | 96 |
| | 22 |
| | — |
| | 123 |
| Operating (expense) income | | (118 | ) | | 5,536 |
| | 1,351 |
| | — |
| | 6,769 |
| Interest and other debt expense, net | | 393 |
| | 13 |
| | 165 |
| | — |
| | 571 |
| Loss on early extinguishment of debt | | 823 |
| | — |
| | — |
| | — |
| | 823 |
| Earnings from equity investment in SABMiller | | (564 | ) | | — |
| | — |
| | — |
| | (564 | ) | Gain on derivative financial instruments | | (205 | ) | | — |
| | — |
| | — |
| | (205 | ) | (Loss) earnings before income taxes and equity earnings of subsidiaries | | (565 | ) | | 5,523 |
| | 1,186 |
| | — |
| | 6,144 |
| (Benefit) provision for income taxes | | (269 | ) | | 2,023 |
| | 424 |
| | — |
| | 2,178 |
| Equity earnings of subsidiaries | | 4,259 |
| | 217 |
| | — |
| | (4,476 | ) | | — |
| Net earnings | | 3,963 |
| | 3,717 |
| | 762 |
| | (4,476 | ) | | 3,966 |
| Net earnings attributable to noncontrolling interests | | — |
| | — |
| | (3 | ) | | — |
| | (3 | ) | Net earnings attributable to Altria Group, Inc. | | $ | 3,963 |
| | $ | 3,717 |
| | $ | 759 |
| | $ | (4,476 | ) | | $ | 3,963 |
| | | | | | | | | | | | | | | | | | | | | | | Net earnings | | $ | 3,963 |
| | $ | 3,717 |
| | $ | 762 |
| | $ | (4,476 | ) | | $ | 3,966 |
| Other comprehensive earnings (losses), net of deferred income taxes | | 2 |
| | (11 | ) | | (107 | ) | | 118 |
| | 2 |
| Comprehensive earnings | | 3,965 |
| | 3,706 |
| | 655 |
| | (4,358 | ) | | 3,968 |
| Comprehensive earnings attributable to noncontrolling interests | | — |
| | — |
| | (3 | ) | | — |
| | (3 | ) | Comprehensive earnings attributable to Altria Group, Inc. | | $ | 3,965 |
| | $ | 3,706 |
| | $ | 652 |
| | $ | (4,358 | ) | | $ | 3,965 |
|
Condensed Consolidating Statements of Earnings and Comprehensive Earnings For the Nine Months Ended September 30, 2015 (in millions of dollars)
| | | | | | | | | | | | | | | | | | | | | | | | Altria Group, Inc. |
| | PM USA |
| | Non- Guarantor Subsidiaries |
| | Total Consolidating Adjustments |
| | Consolidated |
| Net revenues | | $ | — |
| | $ | 16,743 |
| | $ | 2,405 |
| | $ | (32 | ) | | $ | 19,116 |
| Cost of sales | | — |
| | 4,983 |
| | 782 |
| | (32 | ) | | 5,733 |
| Excise taxes on products | | — |
| | 4,834 |
| | 157 |
| | — |
| | 4,991 |
| Gross profit | | — |
| | 6,926 |
| | 1,466 |
| | — |
| | 8,392 |
| Marketing, administration and research costs | | 135 |
| | 1,511 |
| | 305 |
| | — |
| | 1,951 |
| Reduction of PMI tax-related receivable | | 41 |
| | — |
| | — |
| | — |
| | 41 |
| Asset impairment and exit costs | | — |
| | — |
| | 4 |
| | — |
| | 4 |
| Operating (expense) income | | (176 | ) | | 5,415 |
| | 1,157 |
| | — |
| | 6,396 |
| Interest and other debt expense, net | | 430 |
| | 11 |
| | 168 |
| | — |
| | 609 |
| Loss on early extinguishment of debt | | 228 |
| | — |
| | — |
| | — |
| | 228 |
| Earnings from equity investment in SABMiller | | (546 | ) | | — |
| | — |
| | — |
| | (546 | ) | (Loss) earnings before income taxes and equity earnings of subsidiaries | | (288 | ) | | 5,404 |
| | 989 |
| | — |
| | 6,105 |
| (Benefit) provision for income taxes | | (200 | ) | | 1,959 |
| | 351 |
| | — |
| | 2,110 |
| Equity earnings of subsidiaries | | 4,082 |
| | 197 |
| | — |
| | (4,279 | ) | | — |
| Net earnings | | 3,994 |
| | 3,642 |
| | 638 |
| | (4,279 | ) | | 3,995 |
| Net earnings attributable to noncontrolling interests | | — |
| | — |
| | (1 | ) | | — |
| | (1 | ) | Net earnings attributable to Altria Group, Inc. | | $ | 3,994 |
| | $ | 3,642 |
| | $ | 637 |
| | $ | (4,279 | ) | | $ | 3,994 |
| | | | | | | | | | | | | | | | | | | | | | | Net earnings | | $ | 3,994 |
| | $ | 3,642 |
| | $ | 638 |
| | $ | (4,279 | ) | | $ | 3,995 |
| Other comprehensive (losses) earnings, net of deferred income taxes | | (475 | ) | | 11 |
| | 102 |
| | (113 | ) | | (475 | ) | Comprehensive earnings | | 3,519 |
| | 3,653 |
| | 740 |
| | (4,392 | ) | | 3,520 |
| Comprehensive earnings attributable to noncontrolling interests | | — |
| | — |
| | (1 | ) | | — |
| | (1 | ) | Comprehensive earnings attributable to Altria Group, Inc. | | $ | 3,519 |
| | $ | 3,653 |
| | $ | 739 |
| | $ | (4,392 | ) | | $ | 3,519 |
|
Condensed Consolidating Statements of Earnings and Comprehensive Earnings For the Three Months Ended September 30, 2016 (in millions of dollars)
| | | | | | | | | | | | | | | | | | | | | | | | Altria
Group, Inc. |
| | PM USA |
| | Non-
Guarantor
Subsidiaries |
| | Total
Consolidating
Adjustments |
| | Consolidated |
| Net revenues | | $ | — |
| | $ | 5,964 |
| | $ | 950 |
| | $ | (9 | ) | | $ | 6,905 |
| Cost of sales | | — |
| | 1,767 |
| | 285 |
| | (9 | ) | | 2,043 |
| Excise taxes on products | | — |
| | 1,654 |
| | 58 |
| | — |
| | 1,712 |
| Gross profit | | — |
| | 2,543 |
| | 607 |
| | — |
| | 3,150 |
| Marketing, administration and research costs | | 40 |
| | 607 |
| | 119 |
| | — |
| | 766 |
| Asset impairment and exit costs | | — |
| | 1 |
| | 1 |
| | — |
| | 2 |
| Operating (expense) income | | (40 | ) | | 1,935 |
| | 487 |
| | — |
| | 2,382 |
| Interest and other debt expense (income), net | | 129 |
| | (4 | ) | | 54 |
| | — |
| | 179 |
| Loss on early extinguishment of debt | | 823 |
| | — |
| | — |
| | — |
| | 823 |
| Earnings from equity investment in SABMiller | | (299 | ) | | — |
| | — |
| | — |
| | (299 | ) | Gain on derivative financial instruments | | (48 | ) | | — |
| | — |
| | — |
| | (48 | ) | (Loss) earnings before income taxes and equity earnings of subsidiaries | | (645 | ) | | 1,939 |
| | 433 |
| | — |
| | 1,727 |
| (Benefit) provision for income taxes | | (232 | ) | | 707 |
| | 158 |
| | — |
| | 633 |
| Equity earnings of subsidiaries | | 1,506 |
| | 77 |
| | — |
| | (1,583 | ) | | — |
| Net earnings | | 1,093 |
| | 1,309 |
| | 275 |
| | (1,583 | ) | | 1,094 |
| Net earnings attributable to noncontrolling interests | | — |
| | — |
| | (1 | ) | | — |
| | (1 | ) | Net earnings attributable to Altria Group, Inc. | | $ | 1,093 |
| | $ | 1,309 |
| | $ | 274 |
| | $ | (1,583 | ) | | $ | 1,093 |
| | | | | | | | | | | | | | | | | | | | | | | Net earnings | | $ | 1,093 |
| | $ | 1,309 |
| | $ | 275 |
| | $ | (1,583 | ) | | $ | 1,094 |
| Other comprehensive earnings, net of deferred income taxes | | 62 |
| | 4 |
| | 22 |
| | (26 | ) | | 62 |
| Comprehensive earnings | | 1,155 |
| | 1,313 |
| | 297 |
| | (1,609 | ) | | 1,156 |
| Comprehensive earnings attributable to noncontrolling interests | | — |
| | — |
| | (1 | ) | | — |
| | (1 | ) | Comprehensive earnings attributable to
Altria Group, Inc. | | $ | 1,155 |
| | $ | 1,313 |
| | $ | 296 |
| | $ | (1,609 | ) | | $ | 1,155 |
|
Condensed Consolidating Statements of Earnings and Comprehensive Earnings For the Three Months Ended September 30, 2015 (in millions of dollars)
| | | | | | | | | | | | | | | | | | | | | | | | Altria
Group, Inc. |
| | PM USA |
| | Non-
Guarantor
Subsidiaries |
| | Total
Consolidating
Adjustments |
| | Consolidated |
| Net revenues | | $ | — |
| | $ | 5,865 |
| | $ | 845 |
| | $ | (11 | ) | | $ | 6,699 |
| Cost of sales | | — |
| | 1,671 |
| | 272 |
| | (11 | ) | | 1,932 |
| Excise taxes on products | | — |
| | 1,670 |
| | 51 |
| | — |
| | 1,721 |
| Gross profit | | — |
| | 2,524 |
| | 522 |
| | — |
| | 3,046 |
| Marketing, administration and research costs | | 46 |
| | 552 |
| | 100 |
| | — |
| | 698 |
| Reduction of PMI tax-related receivable | | 41 |
| | — |
| | — |
| | — |
| | 41 |
| Operating (expense) income | | (87 | ) | | 1,972 |
| | 422 |
| | — |
| | 2,307 |
| Interest and other debt expense, net | | 138 |
| | 11 |
| | 56 |
| | — |
| | 205 |
| Earnings from equity investment in SABMiller | | (187 | ) | | — |
| | — |
| | — |
| | (187 | ) | (Loss) earnings before income taxes and equity earnings of subsidiaries | | (38 | ) | | 1,961 |
| | 366 |
| | — |
| | 2,289 |
| (Benefit) provision for income taxes | | (55 | ) | | 685 |
| | 131 |
| | — |
| | 761 |
| Equity earnings of subsidiaries | | 1,511 |
| | 71 |
| | — |
| | (1,582 | ) | | — |
| Net earnings | | 1,528 |
| | 1,347 |
| | 235 |
| | (1,582 | ) | | 1,528 |
| Net earnings attributable to noncontrolling interests | | — |
| | — |
| | — |
| | — |
| | — |
| Net earnings attributable to Altria Group, Inc. | | $ | 1,528 |
| | $ | 1,347 |
| | $ | 235 |
| | $ | (1,582 | ) | | $ | 1,528 |
| | | | | | | | | | | | | | | | | | | | | | | Net earnings | | $ | 1,528 |
| | $ | 1,347 |
| | $ | 235 |
| | $ | (1,582 | ) | | $ | 1,528 |
| Other comprehensive (losses) earnings, net of deferred income taxes | | (279 | ) | | 4 |
| | 32 |
| | (36 | ) | | (279 | ) | Comprehensive earnings | | 1,249 |
| | 1,351 |
| | 267 |
| | (1,618 | ) | | 1,249 |
| Comprehensive earnings attributable to noncontrolling interests | | — |
| | — |
| | — |
| | — |
| | — |
| Comprehensive earnings attributable to
Altria Group, Inc. | | $ | 1,249 |
| | $ | 1,351 |
| | $ | 267 |
| | $ | (1,618 | ) | | $ | 1,249 |
|
|
| Condensed Consolidating Statements of Cash Flows |
Condensed Consolidating Statements of Cash Flows For the Nine Months Ended September 30, 2016 (in millions of dollars) | | | | | | | | | | | | | | | | | | | | | | | | Altria Group, Inc. |
| | PM USA |
| | Non- Guarantor Subsidiaries |
| | Total Consolidating Adjustments |
| | Consolidated |
| Cash Provided by Operating Activities | | | | | | | | | | | Net cash provided by operating activities | | $ | 4,241 |
| | $ | 3,582 |
| | $ | 8 |
| | $ | (4,331 | ) | | $ | 3,500 |
| Cash Provided by (Used in) Investing Activities | | | | | | | | | | | Capital expenditures | | — |
| | (23 | ) | | (105 | ) | | — |
| | (128 | ) | Proceeds from finance assets | | — |
| | — |
| | 207 |
| | — |
| | 207 |
| Other | | (3 | ) | | — |
| | (41 | ) | | — |
| | (44 | ) | Net cash (used in) provided by investing activities | | (3 | ) | | (23 | ) | | 61 |
| | — |
| | 35 |
| Cash Provided by (Used in) Financing Activities | | | | | | | | | | | Long-term debt issued | | 1,976 |
| | — |
| | — |
| | — |
| | 1,976 |
| Long-term debt repaid | | (933 | ) | | — |
| | — |
| | — |
| | (933 | ) | Repurchases of common stock | | (512 | ) | | — |
| | — |
| | — |
| | (512 | ) | Dividends paid on common stock | | (3,321 | ) | | — |
| | — |
| | — |
| | (3,321 | ) | Changes in amounts due to/from Altria Group, Inc. and subsidiaries | | (715 | ) | | 128 |
| | 587 |
| | — |
| | — |
| Premiums and fees related to early extinguishment of debt | | (809 | ) | | — |
| | — |
| | — |
| | (809 | ) | Cash dividends paid to parent | | — |
| | (3,686 | ) | | (645 | ) | | 4,331 |
| | — |
| Other | | 2 |
| | — |
| | (9 | ) | | — |
| | (7 | ) | Net cash used in financing activities | | (4,312 | ) | | (3,558 | ) | | (67 | ) | | 4,331 |
| | (3,606 | ) | Cash and cash equivalents: | | | | | | | | | | | (Decrease) increase | | (74 | ) | | 1 |
| | 2 |
| | — |
| | (71 | ) | Balance at beginning of period | | 2,313 |
| | — |
| | 56 |
| | — |
| | 2,369 |
| Balance at end of period | | $ | 2,239 |
| | $ | 1 |
| | $ | 58 |
| | $ | — |
| | $ | 2,298 |
|
Condensed Consolidating Statements of Cash Flows For the Nine Months Ended September 30, 2015 (in millions of dollars)
| | | | | | | | | | | | | | | | | | | | | | | | Altria Group, Inc. |
| | PM USA |
| | Non- Guarantor Subsidiaries |
| | Total Consolidating Adjustments |
| | Consolidated |
| Cash Provided by Operating Activities | | | | | | | | | | | Net cash provided by operating activities | | $ | 3,557 |
| | $ | 3,767 |
| | $ | 655 |
| | $ | (3,889 | ) | | $ | 4,090 |
| Cash Provided by (Used in) Investing Activities | | | | | | | | | | | Capital expenditures | | — |
| | (37 | ) | | (125 | ) | | — |
| | (162 | ) | Proceeds from finance assets | | — |
| | — |
| | 255 |
| | — |
| | 255 |
| Other | | — |
| | 10 |
| | (8 | ) | | — |
| | 2 |
| Net cash (used in) provided by investing activities | | — |
| | (27 | ) | | 122 |
| | — |
| | 95 |
| Cash Provided by (Used in) Financing Activities | | | | | | | | | | | Long-term debt repaid | | (1,793 | ) | | — |
| | — |
| | — |
| | (1,793 | ) | Repurchases of common stock | | (518 | ) | | — |
| | — |
| | — |
| | (518 | ) | Dividends paid on common stock | | (3,071 | ) | | — |
| | — |
| | — |
| | (3,071 | ) | Changes in amounts due to/from Altria Group, Inc. and subsidiaries | | 611 |
| | (492 | ) | | (119 | ) | | — |
| | — |
| Premiums and fees related to early extinguishment of debt | | (226 | ) | | — |
| | — |
| | — |
| | (226 | ) | Cash dividends paid to parent | | — |
| | (3,249 | ) | | (640 | ) | | 3,889 |
| | — |
| Other | | 17 |
| | — |
| | (8 | ) | | — |
| | 9 |
| Net cash used in financing activities | | (4,980 | ) | | (3,741 | ) | | (767 | ) | | 3,889 |
| | (5,599 | ) | Cash and cash equivalents: | | | | | | | | | | | (Decrease) increase | | (1,423 | ) | | (1 | ) | | 10 |
| | — |
| | (1,414 | ) | Balance at beginning of period | | 3,281 |
| | 3 |
| | 37 |
| | — |
| | 3,321 |
| Balance at end of period | | $ | 1,858 |
| | $ | 2 |
| | $ | 47 |
| | $ | — |
| | $ | 1,907 |
|
|