Investments in Equity Securities Investments in Equity Securities (Tables)

9 Months Ended

Sep. 30, 2019

Investments [Abstract]

Investment

Altria’s investments consisted of the following:

	Carrying Amount
	September 30, 2019		December 31, 2018
	(in millions)
ABI	$	17,950	$	17,696
JUUL	8,305		12,800
Cronos (1)	1,091		—
Total	$	27,346	$	30,496

⁽¹⁾ Includes investment in Acquired Common Shares ($673 million), the Cronos warrant ($315 million) and the Fixed-price Preemptive Rights ($103 million) as discussed further below.

Equity Method Investments

Earnings from equity investments accounted for under the equity method of accounting consisted of the following:

	For the Nine Months Ended September 30,				For the Three Months Ended September 30,
	2019		2018		2019		2018
	(in millions)
ABI	$	640	$	759	$	252	$	189
Cronos (1)	226		—		81		—
Total	$	866	$	759	$	333	$	189

⁽¹⁾ Represents Altria’s share of Cronos’s earnings, substantially all of which relate to the change in fair value of Cronos’s derivative financial instruments associated with the issuance of additional shares.