Segment Reporting (Tables)
|
12 Months Ended |
Dec. 31, 2017 |
Segment Reporting [Abstract] |
|
Segment Data Schedule |
Segment data were as follows: | | | | | | | | | | | | | | For the Years Ended December 31, | (in millions) | 2017 |
| | 2016 |
| | 2015 |
| Net revenues: | | | | | | Smokeable products | $ | 22,636 |
| | $ | 22,851 |
| | $ | 22,792 |
| Smokeless products | 2,155 |
| | 2,051 |
| | 1,879 |
| Wine | 698 |
| | 746 |
| | 692 |
| All other | 87 |
| | 96 |
| | 71 |
| Net revenues | $ | 25,576 |
| | $ | 25,744 |
| | $ | 25,434 |
| Earnings before income taxes: | | | | | | Operating companies income (loss): | | | | | | Smokeable products | $ | 8,408 |
| | $ | 7,768 |
| | $ | 7,569 |
| Smokeless products | 1,300 |
| | 1,177 |
| | 1,108 |
| Wine | 147 |
| | 164 |
| | 152 |
| All other | (51 | ) | | (99 | ) | | (169 | ) | Amortization of intangibles | (21 | ) | | (21 | ) | | (21 | ) | General corporate expenses | (227 | ) | | (222 | ) | | (237 | ) | Reduction of PMI tax-related receivable | — |
| | — |
| | (41 | ) | Corporate asset impairment and exit costs | — |
| | (5 | ) | | — |
| Operating income | 9,556 |
| | 8,762 |
| | 8,361 |
| Interest and other debt expense, net | (705 | ) | | (747 | ) | | (817 | ) | Loss on early extinguishment of debt | — |
| | (823 | ) | | (228 | ) | Earnings from equity investment in AB InBev/SABMiller | 532 |
| | 795 |
| | 757 |
| Gain on AB InBev/SABMiller business combination | 445 |
| | 13,865 |
| | 5 |
| Earnings before income taxes | $ | 9,828 |
| | $ | 21,852 |
| | $ | 8,078 |
|
|
Schedule of Depreciation Expense and Capital Expenditures of Segments |
Details of Altria Group, Inc.’s depreciation expense and capital expenditures were as follows: | | | | | | | | | | | | | | For the Years Ended December 31, | (in millions) | 2017 |
| | 2016 |
| | 2015 |
| Depreciation expense: | | | | | | Smokeable products | $ | 93 |
| | $ | 93 |
| | $ | 117 |
| Smokeless products | 29 |
| | 26 |
| | 27 |
| Wine | 40 |
| | 36 |
| | 32 |
| General corporate and other | 26 |
| | 28 |
| | 28 |
| Total depreciation expense | $ | 188 |
| | $ | 183 |
| | $ | 204 |
| Capital expenditures: | | | | | | Smokeable products | $ | 39 |
| | $ | 55 |
| | $ | 56 |
| Smokeless products | 61 |
| | 52 |
| | 113 |
| Wine | 53 |
| | 59 |
| | 42 |
| General corporate and other | 46 |
| | 23 |
| | 18 |
| Total capital expenditures | $ | 199 |
| | $ | 189 |
| | $ | 229 |
|
|
Schedule of NPM Adjustment Items |
For the years ended December 31, 2017, 2016 and 2015, pre-tax expense (income) for NPM adjustment items was recorded in Altria Group, Inc.’s consolidated statements of earnings as follows: | | | | | | | | | | | | | | (in millions) | | 2017 |
| | 2016 |
| | 2015 |
| Smokeable products segment | | $ | (5 | ) |
| $ | 12 |
|
| $ | (97 | ) | Interest and other debt expense, net | | 9 |
|
| 6 |
|
| 13 |
| Total | | $ | 4 |
| | $ | 18 |
| | $ | (84 | ) |
|
Schedule of Pre-tax Tobacco and Health Litigation Charges |
For the years ended December 31, 2017, 2016 and 2015, pre-tax charges related to certain tobacco and health litigation items were recorded in Altria Group, Inc.’s consolidated statements of earnings as follows: | | | | | | | | | | | | | | (in millions) | | 2017 |
| | 2016 |
| | 2015 |
| Smokeable products segment | | $ | 72 |
| | $ | 88 |
| | $ | 127 |
| Interest and other debt expense, net | | 8 |
| | 17 |
| | 23 |
| Total | | $ | 80 |
| | $ | 105 |
| | $ | 150 |
|
|
Schedule Of Pre-Tax Charges (Gains) Included In Net Earnings |
As a result of the 2017 lump sum distributions, a one-time pre-tax settlement charge of $81 million was recorded in 2017 in Altria Group, Inc.’s consolidated statement of earnings as follows: | | | | | | | | | | | | | For the Year Ended December 31, 2017 | (in millions) | Cost of Sales |
| | Marketing, Administration and Research Costs |
| | Total |
| Smokeable products | $ | 39 |
| | $ | 18 |
| | $ | 57 |
| Smokeless products | — |
| | 16 |
| | 16 |
| General corporate and other | — |
| | 8 |
| | 8 |
| Total | $ | 39 |
| | $ | 42 |
| | $ | 81 |
|
During 2017 and 2016, the following pre-tax charges or (gains) were included in net earnings attributable to Altria Group, Inc.: | | | | | | | | | | | | | | | | | | 2017 Quarters | (in millions) | 1st |
| | 2nd |
| | 3rd |
| | 4th |
| NPM Adjustment Items | $ | (1 | ) | | $ | — |
| | $ | 5 |
| | $ | — |
| Tobacco and health litigation items, including accrued interest | 1 |
| | 17 |
| | — |
| | 62 |
| Asset impairment, exit, implementation and acquisition-related costs | 30 |
| | 30 |
| | 17 |
| | 12 |
| Settlement charge for lump sum pension payments | — |
| | — |
| | — |
| | 81 |
| Gain on AB InBev/SABMiller business combination | — |
| | (408 | ) | | (37 | ) | | — |
| AB InBev special items | 73 |
| | 2 |
| | 34 |
| | 51 |
| | $ | 103 |
| | $ | (359 | ) | | $ | 19 |
|
| $ | 206 |
| | | | | | | | | | 2016 Quarters | (in millions) | 1st |
| | 2nd |
| | 3rd |
| | 4th |
| NPM Adjustment Items | $ | 18 |
| | $ | — |
| | $ | — |
| | $ | — |
| Tobacco and health litigation items, including accrued interest | 38 |
| | 5 |
| | 45 |
| | 17 |
| Patent litigation settlement | — |
| | — |
| | — |
| | 21 |
| Asset impairment, exit, implementation and acquisition-related costs | 122 |
| | 5 |
| | 6 |
| | 73 |
| Loss on early extinguishment of debt | — |
| | — |
| | 823 |
| | — |
| Gain on AB InBev/SABMiller business combination | (40 | ) | | (117 | ) | | (48 | ) | | (13,660 | ) | SABMiller special items | 166 |
| | 21 |
| | (40 | ) | | (236 | ) | | $ | 304 |
| | $ | (86 | ) | | $ | 786 |
| | $ | (13,785 | ) |
|