Financial Information
- Balance Sheet
- Income Statement
- Cashflow Statement
Balance Sheet
Currency Code (in millions) |
2021 FY USD |
2022 FY USD |
2023 FY USD |
2024 FY USD |
2025 Q1 YTD USD |
|---|---|---|---|---|---|
| Assets | |||||
| Cash and cash equivalents | 4,544 | 4,030 | 3,686 | 3,127 | 4,726 |
| Receivables | 47 | 48 | 71 | 177 | 258 |
| Receivable from the sale of IQOS System commercialization rights | 0 | 1,721 | NA | NA | NA |
| Inventories | |||||
| Leaf tobacco | 744 | 704 | 649 | 591 | 531 |
| Other raw materials | 166 | 186 | 204 | 190 | 195 |
| Work in process | 23 | 24 | 22 | 21 | 26 |
| Finished product | 261 | 266 | 340 | 278 | 310 |
| Total | 1,194 | 1,180 | 1,215 | 1,080 | 1,062 |
| Other current assets | 298 | 138 | 117 | 36 | 34 |
| Total current assets | 6,083 | 7,220 | 5,585 | 4,513 | 6,080 |
| Income taxes | NA | 103 | 496 | 93 | NA |
| Property, plant and equipment, at cost | 4,432 | 4,427 | 4,582 | 4,537 | 4,561 |
| Less accumulated depreciation | 2,879 | 2,819 | 2,930 | 2,920 | 2,953 |
| Total | 1,553 | 1,608 | 1,652 | 1,617 | 1,608 |
| Property, plant and equipment, at cost | |||||
| Land and land improvements | 123 | 123 | 123 | 124 | NA |
| Buildings and building equipment | 1,422 | 1,478 | 1,535 | 1,552 | NA |
| Machinery and equipment | 2,652 | 2,578 | 2,684 | 2,662 | NA |
| Construction in progress | 235 | 248 | 240 | 199 | NA |
| Goodwill | 5,177 | 5,177 | 6,791 | 6,945 | 6,072 |
| Other intangible assets, net | 12,306 | 12,384 | 13,686 | 12,973 | 12,936 |
| Investments in equity securities | 13,481 | 9,600 | 10,011 | 8,195 | 8,105 |
| Other assets | 923 | 965 | 845 | 934 | 959 |
| Total Assets | 39,523 | 36,954 | 38,570 | 35,177 | 35,760 |
| Liabilities | |||||
| Current portion of long-term debt | 1,105 | 1,556 | 1,121 | 1,527 | 2,631 |
| Accounts payable | 449 | 552 | 582 | 700 | 550 |
| Accrued liabilities | |||||
| Marketing | 664 | 599 | 716 | 688 | 758 |
| Settlement charges | 3,349 | 2,925 | 2,563 | 2,354 | 3,032 |
| Other | 1,365 | 1,299 | 1,902 | 1,780 | 1,957 |
| Dividends payable | 1,647 | 1,685 | 1,735 | 1,732 | 1,727 |
| Total current liabilities | 8,579 | 8,616 | 11,319 | 8,781 | 10,655 |
| Long-term debt | 26,939 | 25,124 | 25,112 | 23,399 | 23,428 |
| Deferred income taxes | 3,692 | 2,897 | 2,799 | 3,749 | 3,699 |
| Accrued pension costs | 200 | 133 | 130 | 136 | 134 |
| Accrued postretirement health care costs | 1,436 | 1,083 | 1,079 | 935 | 934 |
| Other liabilities | 283 | 324 | 1,621 | 365 | 370 |
| Total liabilities | 41,129 | 40,877 | 42,060 | 37,365 | 39,220 |
| Deferred gain from the sale of IQOS System commercialization rights | 0 | 0 | 2,700 | 0 | NA |
| Stockholders' Equity (Deficit) | |||||
| Common stock | 935 | 935 | 935 | 935 | 935 |
| Additional paid-in capital | 5,857 | 5,887 | 5,906 | 5,905 | 5,883 |
| Earnings reinvested in the business | 30,664 | 29,792 | 31,094 | 35,516 | 34,868 |
| Accumulated other comprehensive losses | (3,056) | (2,771) | (2,673) | (2,400) | (2,691) |
| Cost of repurchased stock | (36,006) | (37,816) | (38,802) | (42,194) | (42,505) |
| Total stockholders' equity (deficit) attributable to Altria | (1,606) | (3,973) | (3,540) | (2,238) | (3,510) |
| Noncontrolling interest | 0 | 50 | 50 | 50 | 50 |
| Total stockholders' equity (deficit) | (1,606) | (3,923) | (3,490) | (2,188) | (3,460) |
| Total Liabilities and Stockholders' Equity (Deficit) | 39,523 | 36,954 | 38,570 | 35,177 | 35,760 |
Income Statement
Currency Code (in millions) |
2021 FY USD |
2022 FY USD |
2023 FY USD |
2024 FY USD |
2025 Q1 YTD USD |
|---|---|---|---|---|---|
| Net revenues | 26,013 | 25,096 | 24,483 | 24,018 | 5,259 |
| Cost of sales | 7,119 | 6,442 | 6,218 | 6,077 | 1,270 |
| Excise taxes on products | 4,902 | 4,408 | 3,981 | 3,574 | 740 |
| Gross profit | 13,992 | 14,246 | 14,284 | 14,367 | 3,249 |
| Marketing, administration and research costs | 2,432 | 2,327 | 2,737 | 2,737 | 588 |
| Impairment of goodwill | NA | NA | NA | NA | 873 |
| Operating income | 11,560 | 11,919 | 11,547 | 11,241 | 1,788 |
| Interest and other debt expense, net | 1,162 | 1,058 | 989 | 1,037 | 262 |
| Net periodic benefit income, excluding service cost | (202) | (184) | (127) | (102) | (14) |
| (Income) losses from investments in equity securities | 5,979 | 3,656 | (243) | (652) | (143) |
| Earnings before income taxes | 3,824 | 7,389 | 10,928 | 13,658 | 1,683 |
| Provision for income taxes | 1,349 | 1,625 | 2,798 | 2,394 | 606 |
| Net earnings | 2,475 | 5,764 | 8,130 | 11,264 | 1,077 |
| Per share data | |||||
| Basic and diluted earnings per share | 1.34 | 3.19 | 4.57 | 6.54 | 0.63 |
| Condensed Consolidated Statements of Comprehensive Earnings | |||||
| Net earnings | 2,475 | 5,764 | 8,130 | 11,264 | 1,077 |
| Other comprehensive earnings (losses), net of deferred income taxes | |||||
| Benefit plans | 808 | 176 | (57) | 101 | 1 |
| ABI | 426 | 143 | 174 | 177 | (269) |
| Currency translation adjustments and other | 51 | (34) | (19) | (5) | (23) |
| Other comprehensive earnings (losses), net of deferred income taxes | 1,285 | 285 | 98 | 273 | (291) |
| Comprehensive earnings | 3,760 | 6,049 | 8,228 | 11,537 | 786 |
Cashflow Statement
Currency Code (in millions) |
2021 FY USD |
2022 FY USD |
2023 FY USD |
2024 FY USD |
2025 Q1 YTD USD |
|---|---|---|---|---|---|
| Cash Provided by (Used in) Operating Activities | |||||
| Net earnings | 2,475 | 5,764 | 8,130 | 11,264 | 1,077 |
| Adjustments to reconcile net earnings to operating cash flows | |||||
| Depreciation and amortization | 244 | 226 | 272 | 286 | 71 |
| Deferred income tax provision (benefit) | (1,160) | (947) | (230) | 951 | 26 |
| Unrecognized tax benefit | (21) | 16 | 1,111 | (1,128) | 0 |
| Fair value adjustment for NJOY Transaction contingent payments | NA | NA | NA | NA | 25 |
| (Income) losses from investments in equity securities | 5,979 | 3,656 | (243) | (652) | (143) |
| Gain on the sale of IQOS System commercialization rights | NA | 0 | 0 | (2,700) | NA |
| Impairment of goodwill | NA | NA | NA | NA | 873 |
| Dividends from ABI | 119 | 104 | 163 | 139 | NA |
| Cash effects of changes | |||||
| Receivables | (18) | (21) | 6 | (106) | (80) |
| Inventories | 57 | 14 | (15) | 102 | (18) |
| Accounts payable | 163 | 92 | 38 | 116 | (136) |
| Income taxes | (149) | (118) | 6 | 798 | 565 |
| Accrued liabilities and other current assets | 165 | (129) | 280 | (550) | (302) |
| Accrued settlement charges | (215) | (424) | (362) | (209) | 678 |
| Loss on Cronos-related financial instruments | 148 | NA | NA | NA | NA |
| Loss on early extinguishment of debt | 649 | NA | NA | NA | NA |
| Asset impairment and exit costs | NA | 0 | 0 | 389 | NA |
| Pension plan contributions | (26) | (20) | (20) | (18) | (5) |
| Pension and postretirement, net | (175) | (156) | (136) | (107) | (20) |
| Other, net | 170 | 199 | 287 | 178 | 109 |
| Net cash provided by (used in) operating activities | 8,405 | 8,256 | 9,287 | 8,753 | 2,720 |
| Cash Provided by (Used in) Investing Activities | |||||
| Capital expenditures | (169) | (205) | (196) | (142) | (38) |
| Proceeds from the ABI Transaction | NA | 0 | 0 | 2,353 | 0 |
| Other, net | 205 | (13) | (36) | (36) | (5) |
| Cash Provided by (Used in) Financing Activities | |||||
| Proceeds from the sale of IQOS System commercialization rights | 0 | 1,000 | 1,700 | 0 | NA |
| Proceeds from the Ste. Michelle Transaction, net of cash transferred | 1,176 | NA | NA | NA | NA |
| Acquisition of NJOY, net of cash acquired | 0 | 0 | (2,751) | 0 | NA |
| Net cash provided by (used in) investing activities | 1,212 | 782 | (1,283) | 2,175 | (43) |
| Long-term debt issued | 5,472 | 0 | 998 | 0 | 997 |
| Long-term debt repaid | (6,542) | (1,105) | (1,566) | (1,121) | 0 |
| Repurchases of common stock | (1,675) | (1,825) | (1,000) | (3,400) | (326) |
| Dividends paid on common stock | (6,446) | (6,599) | (6,779) | (6,845) | (1,730) |
| Other, net | (215) | (12) | (27) | (125) | (26) |
| Net cash provided by (used in) financing activities | (10,029) | (9,541) | (8,374) | (11,491) | (1,085) |
| Proceeds from short-term borrowings | 0 | 0 | 2,000 | 0 | NA |
| Repayment of short-term borrowings | 0 | 0 | (2,000) | 0 | NA |
| Premiums and fees related to early extinguishment of debt | (623) | NA | NA | NA | NA |
| Cash, cash equivalents and restricted cash | |||||
| Increase (decrease) | (412) | (503) | (370) | (563) | 1,592 |
| Balance at beginning of period | 5,006 | 4,594 | 4,091 | 3,721 | 3,158 |
| Balance at end of period | 4,594 | 4,091 | 3,721 | 3,158 | 4,750 |