Investment In SABMiller

12 Months Ended

Dec. 31, 2011

Investment In SABMiller [Abstract]

Investment In SABMiller

Note 7. Investment in SABMiller:

At December 31, 2011, Altria Group, Inc. held a 27.0% economic and voting interest in SABMiller. Altria Group, Inc.'s investment in SABMiller is being accounted for under the equity method.

Pre-tax earnings from Altria Group, Inc.'s equity investment in SABMiller consisted of the following:

	For the Years Ended December 31,
(in millions)	2011		2010		2009
Equity earnings	$	703	$	578	$	407
Gains resulting from issuances of common stock by SABMiller		27		50		193
	$	730	$	628	$	600

Summary financial data of SABMiller is as follows:

	At December 31,
(in millions)	2011		2010
Current assets	$	5,967	$	4,518
Long-term assets	$	46,438	$	34,744
Current liabilities	$	7,591	$	6,625
Long-term liabilities	$	22,521	$	11,270
Non-controlling interests	$	1,013	$	766

	For the Years Ended December 31,
(in millions)	2011		2010		2009
Net revenues	$	20,780	$	18,981	$	17,020
Operating profit	$	3,603	$	2,821	$	2,173
Net earnings	$	2,596	$	2,133	$	1,473

The fair value, based on unadjusted quoted prices in active markets, of Altria Group, Inc.'s equity investment in SABMiller at December 31, 2011, was $15.2 billion, as compared with its carrying value of $5.5 billion. The fair value, based on unadjusted quoted prices in active markets, of Altria Group, Inc.'s equity investment in SABMiller at December 31, 2010, was $15.1 billion, as compared with its carrying value of $5.4 billion.