|
 |
Notes to Consolidated Financial Statements
(Continued)
Note 20.
Quarterly Financial Data (Unaudited):
|
|
|
|
2004 Quarters |
|
 |
|
|
|
|
|
|
|
(in millions, except per share data) |
|
1st |
|
|
|
|
|
2nd |
|
|
|
|
|
3rd |
|
|
|
|
|
4th |
|
|
|
|
Net revenues |
|
$21,721 |
|
|
|
|
|
$22,894 |
|
|
|
|
|
$22,615 |
|
|
|
|
|
$22,380 |
|
|
|
|
Gross profit |
|
$ 7,392 |
|
|
|
|
|
$ 7,761 |
|
|
|
|
|
$ 7,517 |
|
|
|
|
|
$ 7,334 |
|
|
|
|
Earnings from continuing operations
Earnings (loss) from discontinued operations |
|
$ 2,185
9 |
|
|
|
|
|
$ 2,608
19 |
|
|
|
|
|
$ 2,637
11 |
|
|
|
|
|
$ 1,990
(43 |
) |
|
|
|
Net earnings |
|
$ 2,194 |
|
|
|
|
|
$ 2,627 |
|
|
|
|
|
$ 2,648 |
|
|
|
|
|
$ 1,947 |
|
|
|
|
Per share data: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic EPS:
Continuing operations
Discontinued operations |
|
$ 1.07 |
|
|
|
|
|
$ 1.27
0.01 |
|
|
|
|
|
$ 1.29 |
|
|
|
|
|
$ 0.97
(0.02 |
) |
|
|
|
Net earnings |
|
$ 1.07 |
|
|
|
|
|
$ 1.28 |
|
|
|
|
|
$ 1.29 |
|
|
|
|
|
$ 0.95 |
|
|
|
|
Diluted EPS:
Continuing operations
Discontinued operations |
|
$ 1.06
0.01 |
|
|
|
|
|
$ 1.26
0.01 |
|
|
|
|
|
$ 1.28
0.01 |
|
|
|
|
|
$ 0.96
(0.02 |
) |
|
|
|
Net earnings |
|
$ 1.07 |
|
|
|
|
|
$ 1.27 |
|
|
|
|
|
$ 1.29 |
|
|
|
|
|
$ 0.94 |
|
|
|
|
Dividends declared |
|
$ 0.68 |
|
|
|
|
|
$ 0.68 |
|
|
|
|
|
$ 0.73 |
|
|
|
|
|
$ 0.73 |
|
|
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|
Market price—high |
|
$ 58.96 |
|
|
|
|
|
$ 57.20 |
|
|
|
|
|
$ 50.30 |
|
|
|
|
|
$ 61.88 |
|
|
|
—low |
|
$ 52.49 |
|
|
|
|
|
$ 44.75 |
|
|
|
|
|
$ 44.50 |
|
|
|
|
|
$ 45.88 |
|
|
|
| |
|
|
2003 Quarters |
|
(in millions, except per share data) |
|
1st |
|
|
|
|
|
2nd |
|
|
|
|
|
3rd |
|
|
|
|
|
4th |
|
|
|
|
Net revenues |
|
$19,247 |
|
|
|
|
|
$20,696 |
|
|
|
|
|
$20,809 |
|
|
|
|
|
$20,568 |
|
|
|
|
Gross profit |
|
$ 6,867 |
|
|
|
|
|
$ 7,433 |
|
|
|
|
|
$ 7,349 |
|
|
|
|
|
$ 6,970 |
|
|
|
|
Earnings from continuing operations
Earnings from discontinued operations |
|
$ 2,166
20 |
|
|
|
|
|
$ 2,410
27 |
|
|
|
|
|
$ 2,468
22 |
|
|
|
|
|
$ 2,077
14 |
|
|
|
|
Net earnings |
|
$ 2,186 |
|
|
|
|
|
$ 2,437 |
|
|
|
|
|
$ 2,490 |
|
|
|
|
|
$ 2,091 |
|
|
|
|
Per share data: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic EPS:
Continuing operations
Discontinued operations |
|
$ 1.07
0.01 |
|
|
|
|
|
$ 1.19
0.01 |
|
|
|
|
|
$ 1.22
0.01 |
|
|
|
|
|
$ 1.02
0.01 |
|
|
|
|
Net earnings |
|
$ 1.08 |
|
|
|
|
|
$ 1.20 |
|
|
|
|
|
$ 1.23 |
|
|
|
|
|
$ 1.03 |
|
|
|
|
Diluted EPS:
Continuing operations
Discontinued operations |
|
$ 1.06
0.01 |
|
|
|
|
|
$ 1.19
0.01 |
|
|
|
|
|
$ 1.21
0.01 |
|
|
|
|
|
$ 1.02 |
|
|
|
|
Net earnings |
|
$ 1.07 |
|
|
|
|
|
$ 1.20 |
|
|
|
|
|
$ 1.22 |
|
|
|
|
|
$ 1.02 |
|
|
|
|
Dividends declared |
|
$ 0.64 |
|
|
|
|
|
$ 0.64 |
|
|
|
|
|
$ 0.68 |
|
|
|
|
|
$ 0.68 |
|
|
|
|
Market price—high |
|
$ 42.09 |
|
|
|
|
|
$ 46.20 |
|
|
|
|
|
$ 47.07 |
|
|
|
|
|
$ 55.03 |
|
|
|
—low |
|
$ 27.70 |
|
|
|
|
|
$ 27.75 |
|
|
|
|
|
$ 38.72 |
|
|
|
|
|
$ 43.85 |
|
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|
Basic and diluted EPS are computed independently for each of the periods presented. Accordingly, the sum of the quarterly EPS amounts may not agree to the total for the year.
|
During 2004 and 2003, Altria Group, Inc. recorded the following pre-tax charges or (gains) in earnings from continuing operations:
|
|
|
2004 Quarters |
|
|
|
|
|
|
|
|
| (in millions) |
|
1st |
|
|
|
|
|
2nd |
|
|
|
|
|
3rd |
|
|
|
|
|
4th |
|
|
|
|
Domestic tobacco headquarters
relocation charges |
|
$ 10 |
|
|
|
|
|
$ 10 |
|
|
|
|
|
$ 5 |
|
|
|
|
|
$ 6 |
|
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|
| International tobacco E.C. agreement |
|
|
|
|
|
|
|
250 |
|
|
|
|
|
|
|
|
|
|
|
|
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| Provision for airline industry exposure |
|
|
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|
|
|
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|
140 |
|
|
|
| Losses (gains) on sales of businesses |
|
|
|
|
|
|
|
|
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|
8 |
|
|
|
|
|
(5 |
) |
|
|
| Asset impairment and exit costs |
|
308 |
|
|
|
|
|
160 |
|
|
|
|
|
62 |
|
|
|
|
|
188 |
|
|
|
|
|
|
$318 |
|
|
|
|
|
$420 |
|
|
|
|
|
$75 |
|
|
|
|
|
$329 |
|
|
|
|
| |
|
2003 Quarters |
| (in millions) |
|
1st |
|
|
|
|
|
2nd |
|
|
|
|
|
3rd |
|
|
|
|
|
4th |
|
|
|
|
| Domestic tobacco legal settlement |
|
|
|
|
|
|
|
$182 |
|
|
|
|
|
|
|
|
|
|
|
$ 20 |
|
|
|
Domestic tobacco headquarters relocation
charges |
|
|
|
|
|
|
|
9 |
|
|
|
|
|
$ 27 |
|
|
|
|
|
33 |
|
|
|
| Gains on sales of businesses |
|
|
|
|
|
|
|
|
|
|
|
|
|
(23 |
) |
|
|
|
|
(8 |
) |
|
|
| Integration costs |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(13 |
) |
|
|
| Asset impairment and exit costs |
|
|
|
|
|
|
|
|
|
|
|
|
|
6 |
|
|
|
|
|
80 |
|
|
|
|
|
|
$ — |
|
|
|
|
|
$191 |
|
|
|
|
|
$ 10 |
|
|
|
|
|
$112 |
|
|
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|
The principal stock exchange, on which Altria Group, Inc.’s common stock (par value $0.33 1/3 per share) is listed, is the New York Stock Exchange. At January 31, 2005, there were approximately 109,400 holders of record of Altria Group, Inc.’s common stock.
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