Condensed Consolidating Financial Information (Tables)
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6 Months Ended |
Jun. 30, 2015 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
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Condensed Consolidating Balance Sheet |
Condensed Consolidating Balance Sheets June 30, 2015 (in millions of dollars) | | | | | | | | | | | | | | | | | | | | | | | | Altria Group, Inc. |
| | PM USA |
| | Non- Guarantor Subsidiaries |
| | Total Consolidating Adjustments |
| | Consolidated |
| Assets | | | | | | | | | | | Cash and cash equivalents | | $ | 1,077 |
| | $ | 1 |
| | $ | 45 |
| | $ | — |
| | $ | 1,123 |
| Receivables | | — |
| | 4 |
| | 138 |
| | — |
| | 142 |
| Inventories: | | | | | | | | | | | Leaf tobacco | | — |
| | 494 |
| | 371 |
| | — |
| | 865 |
| Other raw materials | | — |
| | 131 |
| | 70 |
| | — |
| | 201 |
| Work in process | | — |
| | 10 |
| | 357 |
| | — |
| | 367 |
| Finished product | | — |
| | 167 |
| | 314 |
| | — |
| | 481 |
| | | — |
| | 802 |
| | 1,112 |
| | — |
| | 1,914 |
| Due from Altria Group, Inc. and subsidiaries | | — |
| | 2,686 |
| | 1,192 |
| | (3,878 | ) | | — |
| Deferred income taxes | | 1 |
| | 1,189 |
| | 9 |
| | (56 | ) | | 1,143 |
| Other current assets | | 179 |
| | 82 |
| | 58 |
| | (8 | ) | | 311 |
| Total current assets | | 1,257 |
| | 4,764 |
| | 2,554 |
| | (3,942 | ) | | 4,633 |
| Property, plant and equipment, at cost | | — |
| | 3,103 |
| | 1,702 |
| | — |
| | 4,805 |
| Less accumulated depreciation | | — |
| | 2,116 |
| | 698 |
| | — |
| | 2,814 |
| | | — |
| | 987 |
| | 1,004 |
| | — |
| | 1,991 |
| Goodwill | | — |
| | — |
| | 5,285 |
| | — |
| | 5,285 |
| Other intangible assets, net | | — |
| | 2 |
| | 12,037 |
| | — |
| | 12,039 |
| Investment in SABMiller | | 6,117 |
| | — |
| | — |
| | — |
| | 6,117 |
| Investment in consolidated subsidiaries | | 11,404 |
| | 2,769 |
| | — |
| | (14,173 | ) | | — |
| Finance assets, net | | — |
| | — |
| | 1,339 |
| | — |
| | 1,339 |
| Due from Altria Group, Inc. and subsidiaries | | 4,790 |
| | — |
| | — |
| | (4,790 | ) | | — |
| Other assets | | 141 |
| | 543 |
| | 105 |
| | (324 | ) | | 465 |
| Total Assets | | $ | 23,709 |
| | $ | 9,065 |
| | $ | 22,324 |
| | $ | (23,229 | ) | | $ | 31,869 |
|
Condensed Consolidating Balance Sheets (Continued) June 30, 2015 (in millions of dollars) | | | | | | | | | | | | | | | | | | | | | | | | Altria Group, Inc. |
| | PM USA |
| | Non- Guarantor Subsidiaries |
| | Total Consolidating Adjustments |
| | Consolidated |
| Liabilities | | | | | | | | | | | Current portion of long-term debt | | $ | 1,000 |
| | $ | — |
| | $ | 3 |
| | $ | — |
| | $ | 1,003 |
| Accounts payable | | 19 |
| | 147 |
| | 124 |
| | — |
| | 290 |
| Accrued liabilities: | | | | | | | | | | | Marketing | | — |
| | 588 |
| | 86 |
| | — |
| | 674 |
| Employment costs | | 14 |
| | 9 |
| | 81 |
| | — |
| | 104 |
| Settlement charges | | — |
| | 2,199 |
| | 7 |
| | — |
| | 2,206 |
| Other | | 322 |
| | 467 |
| | 236 |
| | (64 | ) | | 961 |
| Dividends payable | | 1,023 |
| | — |
| | — |
| | — |
| | 1,023 |
| Due to Altria Group, Inc. and subsidiaries | | 3,503 |
| | 374 |
| | 1 |
| | (3,878 | ) | | — |
| Total current liabilities | | 5,881 |
| | 3,784 |
| | 538 |
| | (3,942 | ) | | 6,261 |
| Long-term debt | | 12,901 |
| | — |
| | 16 |
| | — |
| | 12,917 |
| Deferred income taxes | | 1,732 |
| | — |
| | 4,603 |
| | (324 | ) | | 6,011 |
| Accrued pension costs | | 231 |
| | — |
| | 714 |
| | — |
| | 945 |
| Accrued postretirement health care costs | | — |
| | 1,588 |
| | 863 |
| | — |
| | 2,451 |
| Due to Altria Group, Inc. and subsidiaries | | — |
| | — |
| | 4,790 |
| | (4,790 | ) | | — |
| Other liabilities | | 185 |
| | 139 |
| | 151 |
| | — |
| | 475 |
| Total liabilities | | 20,930 |
| | 5,511 |
| | 11,675 |
| | (9,056 | ) | | 29,060 |
| Contingencies | |
|
| |
|
| |
|
| |
|
| |
|
| Redeemable noncontrolling interest | | — |
| | — |
| | 36 |
| | — |
| | 36 |
| Stockholders’ Equity | | | | | | | | | | | Common stock | | 935 |
| | — |
| | 9 |
| | (9 | ) | | 935 |
| Additional paid-in capital | | 5,768 |
| | 3,310 |
| | 11,339 |
| | (14,649 | ) | | 5,768 |
| Earnings reinvested in the business | | 26,698 |
| | 578 |
| | 824 |
| | (1,402 | ) | | 26,698 |
| Accumulated other comprehensive losses | | (2,878 | ) | | (334 | ) | | (1,553 | ) | | 1,887 |
| | (2,878 | ) | Cost of repurchased stock | | (27,744 | ) | | — |
| | — |
| | — |
| | (27,744 | ) | Total stockholders’ equity attributable to Altria Group, Inc. | | 2,779 |
| | 3,554 |
| | 10,619 |
| | (14,173 | ) | | 2,779 |
| Noncontrolling interests | | — |
| | — |
| | (6 | ) | | — |
| | (6 | ) | Total stockholders’ equity | | 2,779 |
| | 3,554 |
| | 10,613 |
| | (14,173 | ) | | 2,773 |
| Total Liabilities and Stockholders’ Equity | | $ | 23,709 |
| | $ | 9,065 |
| | $ | 22,324 |
| | $ | (23,229 | ) | | $ | 31,869 |
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Condensed Consolidating Balance Sheets December 31, 2014 (in millions of dollars) | | | | | | | | | | | | | | | | | | | | | | | | Altria Group, Inc. |
| | PM USA |
| | Non- Guarantor Subsidiaries |
| | Total Consolidating Adjustments |
| | Consolidated |
| Assets | | | | | | | | | | | Cash and cash equivalents | | $ | 3,281 |
| | $ | 3 |
| | $ | 37 |
| | $ | — |
| | $ | 3,321 |
| Receivables | | — |
| | 6 |
| | 118 |
| | — |
| | 124 |
| Inventories: | | | | | | | | | | | Leaf tobacco | | — |
| | 616 |
| | 375 |
| | — |
| | 991 |
| Other raw materials | | — |
| | 132 |
| | 68 |
| | — |
| | 200 |
| Work in process | | — |
| | 4 |
| | 425 |
| | — |
| | 429 |
| Finished product | | — |
| | 134 |
| | 286 |
| | — |
| | 420 |
| | | — |
| | 886 |
| | 1,154 |
| | — |
| | 2,040 |
| Due from Altria Group, Inc. and subsidiaries | | 568 |
| | 3,535 |
| | 1,279 |
| | (5,382 | ) | | — |
| Deferred income taxes | | — |
| | 1,190 |
| | 9 |
| | (56 | ) | | 1,143 |
| Other current assets | | 54 |
| | 101 |
| | 122 |
| | (27 | ) | | 250 |
| Total current assets | | 3,903 |
| | 5,721 |
| | 2,719 |
| | (5,465 | ) | | 6,878 |
| Property, plant and equipment, at cost | | — |
| | 3,112 |
| | 1,643 |
| | — |
| | 4,755 |
| Less accumulated depreciation | | — |
| | 2,091 |
| | 681 |
| | — |
| | 2,772 |
| | | — |
| | 1,021 |
| | 962 |
| | — |
| | 1,983 |
| Goodwill | | — |
| | — |
| | 5,285 |
| | — |
| | 5,285 |
| Other intangible assets, net | | — |
| | 2 |
| | 12,047 |
| | — |
| | 12,049 |
| Investment in SABMiller | | 6,183 |
| | — |
| | — |
| | — |
| | 6,183 |
| Investment in consolidated subsidiaries | | 10,665 |
| | 2,775 |
| | — |
| | (13,440 | ) | | — |
| Finance assets, net | | — |
| | — |
| | 1,614 |
| | — |
| | 1,614 |
| Due from Altria Group, Inc. and subsidiaries | | 4,790 |
| | — |
| | — |
| | (4,790 | ) | | — |
| Other assets | | 148 |
| | 541 |
| | 121 |
| | (327 | ) | | 483 |
| Total Assets | | $ | 25,689 |
| | $ | 10,060 |
| | $ | 22,748 |
| | $ | (24,022 | ) | | $ | 34,475 |
|
Condensed Consolidating Balance Sheets (Continued) December 31, 2014 (in millions of dollars)
| | | | | | | | | | | | | | | | | | | | | | | | Altria Group, Inc. |
| | PM USA |
| | Non- Guarantor Subsidiaries |
| | Total Consolidating Adjustments |
| | Consolidated |
| Liabilities | | | | | | | | | | | Current portion of long-term debt | | $ | 1,000 |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | 1,000 |
| Accounts payable | | 18 |
| | 118 |
| | 280 |
| | — |
| | 416 |
| Accrued liabilities: | | | | | | | | | | | Marketing | | — |
| | 505 |
| | 113 |
| | — |
| | 618 |
| Employment costs | | 18 |
| | 10 |
| | 158 |
| | — |
| | 186 |
| Settlement charges | | — |
| | 3,495 |
| | 5 |
| | — |
| | 3,500 |
| Other | | 321 |
| | 400 |
| | 287 |
| | (83 | ) | | 925 |
| Dividends payable | | 1,028 |
| | — |
| | — |
| | — |
| | 1,028 |
| Due to Altria Group, Inc. and subsidiaries | | 4,414 |
| | 402 |
| | 566 |
| | (5,382 | ) | | — |
| Total current liabilities | | 6,799 |
| | 4,930 |
| | 1,409 |
| | (5,465 | ) | | 7,673 |
| Long-term debt | | 13,693 |
| | — |
| | — |
| | — |
| | 13,693 |
| Deferred income taxes | | 1,754 |
| | — |
| | 4,661 |
| | (327 | ) | | 6,088 |
| Accrued pension costs | | 233 |
| | — |
| | 779 |
| | — |
| | 1,012 |
| Accrued postretirement health care costs | | — |
| | 1,608 |
| | 853 |
| | — |
| | 2,461 |
| Due to Altria Group, Inc. and subsidiaries | | — |
| | — |
| | 4,790 |
| | (4,790 | ) | | — |
| Other liabilities | | 196 |
| | 151 |
| | 156 |
| | — |
| | 503 |
| Total liabilities | | 22,675 |
| | 6,689 |
| | 12,648 |
| | (10,582 | ) | | 31,430 |
| Contingencies | |
|
| |
|
| |
|
| |
|
| |
|
| Redeemable noncontrolling interest | | — |
| | — |
| | 35 |
| | — |
| | 35 |
| Stockholders’ Equity | | | | | | | | | | | Common stock | | 935 |
| | — |
| | 9 |
| | (9 | ) | | 935 |
| Additional paid-in capital | | 5,735 |
| | 3,310 |
| | 10,688 |
| | (13,998 | ) | | 5,735 |
| Earnings reinvested in the business | | 26,277 |
| | 402 |
| | 995 |
| | (1,397 | ) | | 26,277 |
| Accumulated other comprehensive losses | | (2,682 | ) | | (341 | ) | | (1,623 | ) | | 1,964 |
| | (2,682 | ) | Cost of repurchased stock | | (27,251 | ) | | — |
| | — |
| | — |
| | (27,251 | ) | Total stockholders’ equity attributable to Altria Group, Inc. | | 3,014 |
| | 3,371 |
| | 10,069 |
| | (13,440 | ) | | 3,014 |
| Noncontrolling interests | | — |
| | — |
| | (4 | ) | | — |
| | (4 | ) | Total stockholders’ equity | | 3,014 |
| | 3,371 |
| | 10,065 |
| | (13,440 | ) | | 3,010 |
| Total Liabilities and Stockholders’ Equity | | $ | 25,689 |
| | $ | 10,060 |
| | $ | 22,748 |
| | $ | (24,022 | ) | | $ | 34,475 |
|
|
Condensed Consolidating Statements of Earnings and Comprehensive Earnings |
Condensed Consolidating Statements of Earnings and Comprehensive Earnings For the Six Months Ended June 30, 2015 (in millions of dollars) | | | | | | | | | | | | | | | | | | | | | | | | Altria Group, Inc. |
| | PM USA |
| | Non- Guarantor Subsidiaries |
| | Total Consolidating Adjustments |
| | Consolidated |
| Net revenues | | $ | — |
| | $ | 10,878 |
| | $ | 1,560 |
| | $ | (21 | ) | | $ | 12,417 |
| Cost of sales | | — |
| | 3,312 |
| | 510 |
| | (21 | ) | | 3,801 |
| Excise taxes on products | | — |
| | 3,164 |
| | 106 |
| | — |
| | 3,270 |
| Gross profit | | — |
| | 4,402 |
| | 944 |
| | — |
| | 5,346 |
| Marketing, administration and research costs | | 89 |
| | 959 |
| | 205 |
| | — |
| | 1,253 |
| Asset impairment and exit costs | | — |
| | — |
| | 4 |
| | — |
| | 4 |
| Operating (expense) income | | (89 | ) | | 3,443 |
| | 735 |
| | — |
| | 4,089 |
| Interest and other debt expense, net | | 292 |
| | — |
| | 112 |
| | — |
| | 404 |
| Loss on early extinguishment of debt | | 228 |
| | — |
| | — |
| | — |
| | 228 |
| Earnings from equity investment in SABMiller | | (359 | ) | | — |
| | — |
| | — |
| | (359 | ) | (Loss) Earnings before income taxes and equity earnings of subsidiaries | | (250 | ) | | 3,443 |
| | 623 |
| | — |
| | 3,816 |
| (Benefit) provision for income taxes | | (145 | ) | | 1,274 |
| | 220 |
| | — |
| | 1,349 |
| Equity earnings of subsidiaries | | 2,571 |
| | 126 |
| | — |
| | (2,697 | ) | | — |
| Net earnings | | 2,466 |
| | 2,295 |
| | 403 |
| | (2,697 | ) | | 2,467 |
| Net earnings attributable to noncontrolling interests | | — |
| | — |
| | (1 | ) | | — |
| | (1 | ) | Net earnings attributable to Altria Group, Inc. | | $ | 2,466 |
| | $ | 2,295 |
| | $ | 402 |
| | $ | (2,697 | ) | | $ | 2,466 |
| | | | | | | | | | | | | | | | | | | | | | | Net earnings | | $ | 2,466 |
| | $ | 2,295 |
| | $ | 403 |
| | $ | (2,697 | ) | | $ | 2,467 |
| Other comprehensive (losses) earnings, net of deferred income taxes | | (196 | ) | | 7 |
| | 70 |
| | (77 | ) | | (196 | ) | Comprehensive earnings | | 2,270 |
| | 2,302 |
| | 473 |
| | (2,774 | ) | | 2,271 |
| Comprehensive earnings attributable to noncontrolling interests | | — |
| | — |
| | (1 | ) | | — |
| | (1 | ) | Comprehensive earnings attributable to Altria Group, Inc. | | $ | 2,270 |
| | $ | 2,302 |
| | $ | 472 |
| | $ | (2,774 | ) | | $ | 2,270 |
|
Condensed Consolidating Statements of Earnings and Comprehensive Earnings For the Six Months Ended June 30, 2014 (in millions of dollars)
| | | | | | | | | | | | | | | | | | | | | | | | Altria Group, Inc. |
| | PM USA |
| | Non- Guarantor Subsidiaries |
| | Total Consolidating Adjustments |
| | Consolidated |
| Net revenues | | $ | — |
| | $ | 10,261 |
| | $ | 1,534 |
| | $ | (22 | ) | | $ | 11,773 |
| Cost of sales | | — |
| | 3,247 |
| | 495 |
| | (22 | ) | | 3,720 |
| Excise taxes on products | | — |
| | 3,089 |
| | 105 |
| | — |
| | 3,194 |
| Gross profit | | — |
| | 3,925 |
| | 934 |
| | — |
| | 4,859 |
| Marketing, administration and research costs | | 104 |
| | 867 |
| | 187 |
| | — |
| | 1,158 |
| Asset impairment and exit costs | | — |
| | (8 | ) | | — |
| | — |
| | (8 | ) | Operating (expense) income | | (104 | ) | | 3,066 |
| | 747 |
| | — |
| | 3,709 |
| Interest and other debt expense (income), net | | 308 |
| | (47 | ) | | 122 |
| | — |
| | 383 |
| Earnings from equity investment in SABMiller | | (425 | ) | | — |
| | — |
| | — |
| | (425 | ) | Earnings before income taxes and equity earnings of subsidiaries | | 13 |
| | 3,113 |
| | 625 |
| | — |
| | 3,751 |
| (Benefit) provision for income taxes | | (65 | ) | | 1,154 |
| | 225 |
| | — |
| | 1,314 |
| Equity earnings of subsidiaries | | 2,359 |
| | 117 |
| | — |
| | (2,476 | ) | | — |
| Net earnings | | 2,437 |
| | 2,076 |
| | 400 |
| | (2,476 | ) | | 2,437 |
| Net earnings attributable to noncontrolling interests | | — |
| | — |
| | — |
| | — |
| | — |
| Net earnings attributable to Altria Group, Inc. | | $ | 2,437 |
| | $ | 2,076 |
| | $ | 400 |
| | $ | (2,476 | ) | | $ | 2,437 |
| | | | | | | | | | | | | | | | | | | | | | | Net earnings | | $ | 2,437 |
| | $ | 2,076 |
| | $ | 400 |
| | $ | (2,476 | ) | | $ | 2,437 |
| Other comprehensive earnings, net of deferred income taxes | | 149 |
| | 5 |
| | 42 |
| | (47 | ) | | 149 |
| Comprehensive earnings | | 2,586 |
| | 2,081 |
| | 442 |
| | (2,523 | ) | | 2,586 |
| Comprehensive earnings attributable to noncontrolling interests | | — |
| | — |
| | — |
| | — |
| | — |
| Comprehensive earnings attributable to Altria Group, Inc. | | $ | 2,586 |
| | $ | 2,081 |
| | $ | 442 |
| | $ | (2,523 | ) | | $ | 2,586 |
|
Condensed Consolidating Statements of Earnings and Comprehensive Earnings For the Three Months Ended June 30, 2015 (in millions of dollars)
| | | | | | | | | | | | | | | | | | | | | | | | Altria Group, Inc. |
| | PM USA |
| | Non- Guarantor Subsidiaries |
| | Total Consolidating Adjustments |
| | Consolidated |
| Net revenues | | $ | — |
| | $ | 5,810 |
| | $ | 815 |
| | $ | (12 | ) | | $ | 6,613 |
| Cost of sales | | — |
| | 1,746 |
| | 270 |
| | (12 | ) | | 2,004 |
| Excise taxes on products | | — |
| | 1,684 |
| | 54 |
| | — |
| | 1,738 |
| Gross profit | | — |
| | 2,380 |
| | 491 |
| | — |
| | 2,871 |
| Marketing, administration and research costs | | 47 |
| | 494 |
| | 102 |
| | — |
| | 643 |
| Asset impairment and exit costs | | — |
| | — |
| | 4 |
| | — |
| | 4 |
| Operating (expense) income | | (47 | ) | | 1,886 |
| | 385 |
| | — |
| | 2,224 |
| Interest and other debt expense, net | | 138 |
| | 1 |
| | 56 |
| | — |
| | 195 |
| Earnings from equity investment in SABMiller | | (225 | ) | | — |
| | — |
| | — |
| | (225 | ) | Earnings before income taxes and equity earnings of subsidiaries | | 40 |
| | 1,885 |
| | 329 |
| | — |
| | 2,254 |
| (Benefit) provision for income taxes | | (2 | ) | | 690 |
| | 117 |
| | — |
| | 805 |
| Equity earnings of subsidiaries | | 1,406 |
| | 65 |
| | — |
| | (1,471 | ) | | — |
| Net earnings | | 1,448 |
| | 1,260 |
| | 212 |
| | (1,471 | ) | | 1,449 |
| Net earnings attributable to noncontrolling interests | | — |
| | — |
| | (1 | ) | | — |
| | (1 | ) | Net earnings attributable to Altria Group, Inc. | | $ | 1,448 |
| | $ | 1,260 |
| | $ | 211 |
| | $ | (1,471 | ) | | $ | 1,448 |
| | | | | | | | | | | | | | | | | | | | | | | Net earnings | | $ | 1,448 |
| | $ | 1,260 |
| | $ | 212 |
| | $ | (1,471 | ) | | $ | 1,449 |
| Other comprehensive earnings, net of deferred income taxes | | 67 |
| | 3 |
| | 35 |
| | (38 | ) | | 67 |
| Comprehensive earnings | | 1,515 |
| | 1,263 |
| | 247 |
| | (1,509 | ) | | 1,516 |
| Comprehensive earnings attributable to noncontrolling interests | | — |
| | — |
| | (1 | ) | | — |
| | (1 | ) | Comprehensive earnings attributable to Altria Group, Inc. | | $ | 1,515 |
| | $ | 1,263 |
| | $ | 246 |
| | $ | (1,509 | ) | | $ | 1,515 |
|
Condensed Consolidating Statements of Earnings and Comprehensive Earnings For the Three Months Ended June 30, 2014 (in millions of dollars)
| | | | | | | | | | | | | | | | | | | | | | | | Altria Group, Inc. |
| | PM USA |
| | Non- Guarantor Subsidiaries |
| | Total Consolidating Adjustments |
| | Consolidated |
| Net revenues | | $ | — |
| | $ | 5,443 |
| | $ | 831 |
| | $ | (18 | ) | | $ | 6,256 |
| Cost of sales | | — |
| | 1,706 |
| | 280 |
| | (18 | ) | | 1,968 |
| Excise taxes on products | | — |
| | 1,629 |
| | 56 |
| | — |
| | 1,685 |
| Gross profit | | — |
| | 2,108 |
| | 495 |
| | — |
| | 2,603 |
| Marketing, administration and research costs | | 65 |
| | 465 |
| | 108 |
| | — |
| | 638 |
| Asset impairment and exit costs | | — |
| | (10 | ) | | — |
| | — |
| | (10 | ) | Operating (expense) income | | (65 | ) | | 1,653 |
| | 387 |
| | — |
| | 1,975 |
| Interest and other debt expense, net | | 152 |
| | 17 |
| | 61 |
| | — |
| | 230 |
| Earnings from equity investment in SABMiller | | (200 | ) | | — |
| | — |
| | — |
| | (200 | ) | (Loss) earnings before income taxes and equity earnings of subsidiaries | | (17 | ) | | 1,636 |
| | 326 |
| | — |
| | 1,945 |
| (Benefit) provision for income taxes | | (42 | ) | | 607 |
| | 118 |
| | — |
| | 683 |
| Equity earnings of subsidiaries | | 1,237 |
| | 64 |
| | — |
| | (1,301 | ) | | — |
| Net earnings | | 1,262 |
| | 1,093 |
| | 208 |
| | (1,301 | ) | | 1,262 |
| Net earnings attributable to noncontrolling interests | | — |
| | — |
| | — |
| | — |
| | — |
| Net earnings attributable to Altria Group, Inc. | | $ | 1,262 |
| | $ | 1,093 |
| | $ | 208 |
| | $ | (1,301 | ) | | $ | 1,262 |
| | | | | | | | | | | | | | | | | | | | | | | Net earnings | | $ | 1,262 |
| | $ | 1,093 |
| | $ | 208 |
| | $ | (1,301 | ) | | $ | 1,262 |
| Other comprehensive earnings, net of deferred income taxes | | 89 |
| | 3 |
| | 20 |
| | (23 | ) | | 89 |
| Comprehensive earnings | | 1,351 |
| | 1,096 |
| | 228 |
| | (1,324 | ) | | 1,351 |
| Comprehensive earnings attributable to noncontrolling interests | | — |
| | — |
| | — |
| | — |
| | — |
| Comprehensive earnings attributable to Altria Group, Inc. | | $ | 1,351 |
| | $ | 1,096 |
| | $ | 228 |
| | $ | (1,324 | ) | | $ | 1,351 |
|
|
Condensed Consolidating Statements of Cash Flows |
Condensed Consolidating Statements of Cash Flows For the Six Months Ended June 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 | | $ | 2,316 |
| | $ | 1,312 |
| | $ | 311 |
| | $ | (2,692 | ) | | $ | 1,247 |
| Cash Provided by (Used in) Investing Activities | | | | | | | | | | | Capital expenditures | | — |
| | (25 | ) | | (74 | ) | | — |
| | (99 | ) | Proceeds from finance assets | | — |
| | — |
| | 185 |
| | — |
| | 185 |
| Other | | — |
| | 10 |
| | (9 | ) | | — |
| | 1 |
| Net cash (used in) provided by investing activities | | — |
| | (15 | ) | | 102 |
| | — |
| | 87 |
| Cash Provided by (Used in) Financing Activities | | | | | | | | | | | Long-term debt repaid | | (793 | ) | | — |
| | — |
| | — |
| | (793 | ) | Repurchases of common stock | | (455 | ) | | — |
| | — |
| | — |
| | (455 | ) | Dividends paid on common stock | | (2,050 | ) | | — |
| | — |
| | — |
| | (2,050 | ) | Changes in amounts due to/from Altria Group, Inc. and subsidiaries | | (996 | ) | | 820 |
| | 176 |
| | — |
| | — |
| Premiums and fees related to early extinguishment of debt | | (226 | ) | | — |
| | — |
| | — |
| | (226 | ) | Cash dividends paid to parent | | — |
| | (2,119 | ) | | (573 | ) | | 2,692 |
| | — |
| Other | | — |
| | — |
| | (8 | ) | | — |
| | (8 | ) | Net cash used in financing activities | | (4,520 | ) | | (1,299 | ) | | (405 | ) | | 2,692 |
| | (3,532 | ) | Cash and cash equivalents: | | | | | | | | | | | (Decrease) increase | | (2,204 | ) | | (2 | ) | | 8 |
| | — |
| | (2,198 | ) | Balance at beginning of period | | 3,281 |
| | 3 |
| | 37 |
| | — |
| | 3,321 |
| Balance at end of period | | $ | 1,077 |
| | $ | 1 |
| | $ | 45 |
| | $ | — |
| | $ | 1,123 |
|
Condensed Consolidating Statements of Cash Flows For the Six Months Ended June 30, 2014 (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 | | $ | 2,121 |
| | $ | 846 |
| | $ | 223 |
| | $ | (2,431 | ) | | $ | 759 |
| Cash Provided by (Used in) Investing Activities | | | | | | | | | | | Capital expenditures | | — |
| | (21 | ) | | (39 | ) | | — |
| | (60 | ) | Acquisition of Green Smoke, net of acquired cash | | — |
| | — |
| | (93 | ) | | — |
| | (93 | ) | Proceeds from finance assets | | — |
| | — |
| | 189 |
| | — |
| | 189 |
| Other | | — |
| | 70 |
| | (4 | ) | | — |
| | 66 |
| Net cash provided by investing activities | | — |
| | 49 |
| | 53 |
| | — |
| | 102 |
| Cash Provided by (Used in) Financing Activities | | | | | | | | | | | Long-term debt repaid | | (525 | ) | | — |
| | — |
| | — |
| | (525 | ) | Repurchases of common stock | | (404 | ) | | — |
| | — |
| | — |
| | (404 | ) | Dividends paid on common stock | | (1,912 | ) | | — |
| | — |
| | — |
| | (1,912 | ) | Changes in amounts due to/from Altria Group, Inc. and subsidiaries | | (1,248 | ) | | 1,042 |
| | 206 |
| | — |
| | — |
| Cash dividends paid to parent | | — |
| | (1,938 | ) | | (493 | ) | | 2,431 |
| | — |
| Other | | — |
| | — |
| | (2 | ) | | — |
| | (2 | ) | Net cash used in financing activities | | (4,089 | ) | | (896 | ) | | (289 | ) | | 2,431 |
| | (2,843 | ) | Cash and cash equivalents: | | | | | | | | | | | Decrease | | (1,968 | ) | | (1 | ) | | (13 | ) | | — |
| | (1,982 | ) | Balance at beginning of period | | 3,114 |
| | 1 |
| | 60 |
| | — |
| | 3,175 |
| Balance at end of period | | $ | 1,146 |
| | $ | — |
| | $ | 47 |
| | $ | — |
| | $ | 1,193 |
|
|