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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Mar. 31, 2021
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Cash Provided by (Used in) Operating Activities          
Net earnings (losses)   $ 5,764 $ 2,475 $ 4,454  
Adjustments to reconcile net earnings to operating cash flows:          
Depreciation and amortization   226 244 257  
Deferred income tax provision (benefit)   (947) (1,160) (164) $ (164)
(Income) losses from investments in equity securities   3,641 5,979 111  
Dividends from ABI   104 119 108  
Loss on Cronos-related financial instruments   15 148 140  
Impairment of JUUL equity securities   0 0 2,600  
Loss on early extinguishment of debt $ 649 0 649 0  
Cash effects of changes:          
Receivables [1]   (21) (18) 20  
Inventories [1]   14 57 2  
Accounts payable [1]   92 163 53  
Income taxes [1]   (118) (149) (29)  
Accrued liabilities and other current assets [1]   (129) 165 (15)  
Accrued settlement charges [1]   (424) (215) 218  
Pension plan contributions   (20) (26) (33)  
Pension and postretirement, net   (156) (175) (49)  
Other, net [2]   215 149 712  
Net cash provided by (used in) operating activities   8,256 8,405 8,385  
Cash Provided by (Used in) Investing Activities          
Capital expenditures   (205) (169) (231)  
Proceeds from the sale of IQOS System commercialization rights   1,000 0 0  
Proceeds from the Ste. Michelle Transaction, net of cash transferred   0 1,176 0  
Other, net   (13) 205 88  
Net cash (used in) provided by investing activities   782 1,212 (143)  
Cash Provided by (Used in) Financing Activities          
Proceeds from short-term borrowings   0 0 3,000  
Repayment of short-term borrowings   0 0 (3,000)  
Long-term debt issued   0 5,472 1,993  
Long-term debt repaid   (1,105) (6,542) (1,000)  
Repurchases of common stock   (1,825) (1,675) 0  
Dividends paid on common stock   (6,599) (6,446) (6,290)  
Premiums and fees related to early extinguishment of debt   0 (623) 0  
Other, net   (12) (215) (99)  
Net cash provided by (used in) financing activities   (9,541) (10,029) (5,396)  
Cash, cash equivalents and restricted cash:          
Increase (decrease)   (503) (412) 2,846  
Balance at beginning of year $ 5,006 4,594 5,006 2,160  
Balance at end of year   4,091 4,594 5,006 2,160
Supplemental cash flow information:          
Cash paid: Interest   1,119 1,189 1,246  
Cash Paid: Income taxes   2,657 2,673 2,616  
Non-cash investing activities:          
Deferred proceeds from the sale of IQOS System commercialization rights   1,700 0 0  
Cash and cash equivalents   4,030 4,544 4,945  
Restricted cash included in other current assets [3]   15 0 1  
Restricted cash included in other assets [3]   46 50 60  
Cash, cash equivalents and restricted cash   $ 4,091 $ 4,594 $ 5,006 $ 2,160
[1] 2021 amounts reflect changes from operations for Ste. Michelle prior to the Ste. Michelle Transaction.
[2] 2020 primarily reflects inventory-related amounts associated with the wine business strategic reset. For further discussion, see Note 14. Segment Reporting.
[3] Restricted cash consisted primarily of cash deposits collateralizing appeal bonds posted by PM USA to obtain stays of judgments pending appeals. See Note 17. Contingencies.