Other Comprehensive Earnings/Losses (Tables)

3 Months Ended

Mar. 31, 2024

Schedule of Accumulated Other Comprehensive Income (Loss)

Changes in each component of accumulated other comprehensive losses, net of deferred income taxes, attributable to Altria were as follows:


	For the Three Months Ended March 31, 2024
(in millions)	Benefit Plans		ABI			Currency Translation Adjustments and Other		Accumulated Other Comprehensive Losses
Balances, December 31, 2023	$	(1,493)	$	(1,195)		$	15	$	(2,673)

Other comprehensive earnings (losses) before reclassifications	—		254			6		260
Deferred income taxes	—		(55)			—		(55)
Other comprehensive earnings (losses) before reclassifications, net of deferred income taxes	—		199			6		205

Amounts reclassified to net earnings	(2)		255			—		253
Deferred income taxes	1		(52)			—		(51)
Amounts reclassified to net earnings, net of deferred income taxes	(1)		203			—		202

Other comprehensive earnings (losses), net of deferred income taxes	(1)		402		(1)	6		407

Balances, March 31, 2024	$	(1,494)	$	(793)		$	21	$	(2,266)


	For the Three Months Ended March 31, 2023
(in millions)	Benefit Plans		ABI			Currency Translation Adjustments and Other		Accumulated Other Comprehensive Losses
Balances, December 31, 2022	$	(1,436)	$	(1,369)		$	34	$	(2,771)

Other comprehensive earnings (losses) before reclassifications	—		(18)			10		(8)
Deferred income taxes	—		5			—		5
Other comprehensive earnings (losses) before reclassifications, net of deferred income taxes	—		(13)			10		(3)

Amounts reclassified to net earnings	(8)		1			—		(7)
Deferred income taxes	2		—			—		2
Amounts reclassified to net earnings, net of deferred income taxes	(6)		1			—		(5)

Other comprehensive earnings (losses), net of deferred income taxes	(6)		(12)		(1)	10		(8)

Balances, March 31, 2023	$	(1,442)	$	(1,381)		$	44	$	(2,779)

(1) Primarily reflects our share of ABI’s currency translation adjustments and the impact of our designated net investment hedges related to our investment in ABI. For further discussion of designated net investment hedges, see Note 6. Financial Instruments.

Reclassification out of Accumulated Other Comprehensive Income

Pre-tax amounts by component, reclassified from accumulated other comprehensive losses to net earnings were as follows:


	For the Three Months Ended March 31,
(in millions)	2024		2023
Benefit Plans: (1)
Net loss	$	7	$	1
Prior service cost/credit	(9)		(9)
	(2)		(8)
ABI (2)	255		1

Pre-tax amounts reclassified from accumulated other comprehensive losses to net earnings	$	253	$	(7)

(1) Amounts are included in net periodic benefit income, excluding service cost. For further details, see Note 7. Benefit Plans.

(2) Amounts are included in (income) losses from investments in equity securities. For the three months ended March 31, 2024, as a result of the ABI Transaction, we reclassified $243 million from our accumulated other comprehensive losses of which $285 million is directly attributable to ABI, partially offset by $42 million from our designated net investment hedges related to our investment in ABI. For further information, see Note 5. Investments in Equity Securities and Note 6. Financial Instruments.