Consolidated Results
(in millions of dollars, except per share data)
|
 |
|
|
|
|
2004 |
|
|
2003* |
|
% Change |
|
|
|
| Net revenues |
|
$89,610 |
|
|
$81,320 |
|
10.2% |
|
|
| Operating income |
|
15,180 |
|
|
15,759 |
|
(3.7%) |
|
|
| Earnings from continuing operations |
|
9,420 |
|
|
9,121 |
|
3.3% |
|
|
| Net earnings |
|
9,416 |
|
|
9,204 |
|
2.3% |
|
|
| Basic earnings per share: |
|
|
|
|
|
|
|
|
|
|
Continuing operations |
|
4.60 |
|
|
4.50 |
|
2.2% |
|
|
|
Net earnings |
|
4.60 |
|
|
4.54 |
|
1.3% |
|
|
| Diluted earnings per share: |
|
|
|
|
|
|
|
|
|
|
Continuing operations |
|
4.57 |
|
|
4.48 |
|
2.0% |
|
|
|
Net earnings |
|
4.56 |
|
|
4.52 |
|
0.9% |
|
|
| Dividends declared per share |
|
2.82 |
|
|
2.64 |
|
6.8% |
|
|
|
Results by Business Segment
|
|
|
|
|
|
2004 |
|
|
2003* |
|
% Change |
|
|
|
Tobacco |
|
|
|
|
|
|
|
|
|
|
Domestic |
|
|
|
|
|
|
|
|
|
|
Net revenues |
|
$17,511 |
|
|
$17,001 |
|
3.0% |
|
|
|
Operating companies income** |
|
4,405 |
|
|
3,889 |
|
13.3% |
|
|
| |
|
|
|
|
|
|
International |
|
|
|
|
|
|
|
|
|
|
Net revenues |
|
39,536 |
|
|
33,389 |
|
18.4% |
|
|
|
Operating companies income** |
|
6,566 |
|
|
6,286 |
|
4.5% |
|
|
|
|
Food |
|
|
|
|
|
|
|
|
|
|
North American |
|
|
|
|
|
|
|
|
|
|
Net revenues |
|
$22,060 |
|
|
$20,937 |
|
5.4% |
|
|
|
Operating companies income** |
|
3,870 |
|
|
4,658 |
|
(16.9% |
) |
|
| |
|
|
|
|
|
|
International |
|
|
|
|
|
|
|
|
|
|
Net revenues |
|
10,108 |
|
|
9,561 |
|
5.7% |
|
|
|
Operating companies income** |
|
933 |
|
|
1,393 |
|
(33.0% |
) |
|
|
|
Financial Services |
|
|
|
|
|
|
|
|
|
|
Net revenues |
|
$ 395 |
|
|
$ 432 |
|
(8.6% |
) |
|
|
Operating companies income** |
|
144 |
|
|
313 |
|
(54.0% |
) |
|
|
|
*
|
Results for 2003 have been restated to reflect Kraft's sugar confectionery business as discontinued operations. In addition, net revenues and operating companies income for 2003 have been restated to reflect the transfer of managerial responsibility for food businesses in Mexico and Puerto Rico to international food from North American food.
|
|
**
|
Altria Group, Inc.'s management reviews operating companies income, which is defined as operating income before corporate expenses and amortization of intangibles, to evaluate segment performance and allocate resources. For a reconciliation of operating companies income to operating income, see Note 15. Segment Reporting.
|
|
|