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Quarterly Financial Data
 12 Months Ended
Dec. 31, 2012
Quarterly Financial Data [Abstract]  
Quarterly Financial Data
Quarterly Financial Data (Unaudited)
 
2012 Quarters
(in millions, except per share data)
1st (a)

 
2nd

 
3rd

 
4th

Net revenues
$
5,647

 
$
6,487

 
$
6,242

 
$
6,242

Gross profit
$
2,202

 
$
2,494

 
$
2,484

 
$
2,383

Net earnings
$
1,195

 
$
1,226

 
$
657

 
$
1,105

Net earnings attributable to noncontrolling interests
—

 
(1
)
 
—

 
(2
)
Net earnings attributable to Altria Group, Inc.
$
1,195

 
$
1,225

 
$
657

 
$
1,103

Per share data:

 

 

 

Basic EPS attributable to Altria Group, Inc.
$
0.59

 
$
0.60

 
$
0.32

 
$
0.55

Diluted EPS attributable to Altria Group, Inc.
$
0.59

 
$
0.60

 
$
0.32

 
$
0.55

Dividends declared
$
0.41

 
$
0.41

 
$
0.44

 
$
0.44

Market price — high
$
31.00

 
$
34.60

 
$
36.29

 
$
34.25

— low
$
28.00

 
$
30.74

 
$
32.72

 
$
30.01

 
2011 Quarters
(in millions, except per share data)
1st

 
2nd

 
3rd

 
4th

Net revenues
$
5,643

 
$
5,920

 
$
6,108

 
$
6,129

Gross profit
$
2,148

 
$
1,972

 
$
2,445

 
$
2,374

Net earnings
$
938

 
$
444

 
$
1,174

 
$
837

Net earnings attributable to noncontrolling interests
(1
)
 
—

 
(1
)
 
(1
)
Net earnings attributable to Altria Group, Inc.
$
937

 
$
444

 
$
1,173

 
$
836

Per share data:

 

 

 

Basic EPS attributable to Altria Group, Inc.
$
0.45

 
$
0.21

 
$
0.57

 
$
0.41

Diluted EPS attributable to Altria Group, Inc.
$
0.45

 
$
0.21

 
$
0.57

 
$
0.41

Dividends declared
$
0.38

 
$
0.38

 
$
0.41

 
$
0.41

Market price — high
$
26.27

 
$
28.13

 
$
27.41

 
$
30.40

— low
$
23.34

 
$
25.81

 
$
23.20

 
$
25.94


During 2012 and 2011, the following pre-tax charges or (gains) were included in net earnings attributable to Altria Group, Inc.:
 
2012 Quarters
(in millions)
1st

 
2nd

 
3rd

 
4th

Asset impairment, exit and implementation costs
$
4

 
$
25

 
$
11

 
$
16

Tobacco and health judgments, including accrued interest
—

 
1

 
3

 
1

PMCC decrease to allowance for losses and recoveries
—

 
(11
)
 
(33
)
 
—

Reduction to cumulative lease earnings related to the Closing Agreement
—

 
7

 
—

 
—

SABMiller special items (a)
(309
)
 
26

 
19

 
16

Loss on early extinguishment of debt
—

 
—

 
874

 
—

 
$
(305
)
 
$
48

 
$
874

 
$
33

 
2011 Quarters
(in millions)
1st

 
2nd

 
3rd

 
4th

Asset impairment, exit, implementation and integration costs
$
2

 
$
3

 
$
1

 
$
220

Tobacco and health judgments, including accrued interest
—

 
41

 
—

 
121

UST acquisition-related costs
4

 
—

 
1

 
1

PMCC (decrease) increase to allowance for losses
—

 
—

 
(35
)
 
60

Reduction to cumulative lease earnings related to the 2011 PMCC Leveraged Lease Charge
—

 
490

 
—

 
—

SABMiller special items
(32
)
 
57

 
11

 
46

 
$
(26
)
 
$
591

 
$
(22
)
 
$
448

(a)
During the second quarter of 2012, Altria Group, Inc. determined that it had not recorded in its financial statements for the three months ended March 31, 2012, its share of non-cash gains from its equity investment in SABMiller, relating to SABMiller's strategic alliance transactions with Anadolu Efes and Castel that were closed during the first quarter of 2012. Because Altria Group, Inc. did not record these gains, it understated by $342 million, $222 million and $0.11 earnings before income taxes, net earnings and diluted earnings per share attributable to Altria Group, Inc., respectively, for the three months ended March 31, 2012. Altria Group, Inc. revised its first quarter of 2012 financial statements and reflected this revision in the financial statements as of and for the six months ended June 30, 2012. Financial results for the first quarter of 2012 reported above reflect this revision.
As discussed in Note 14. Income Taxes, Altria Group, Inc. has recognized income tax benefits and charges in the consolidated statements of earnings during 2012 and 2011 as a result of various tax events.