10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ALTRIA GROUP, INC. | |||
Ticker: MO Fiscal Year: 2020 | |||
Consolidated Statements of Earnings (Losses) | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 26, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Net revenues | $ 26,153 | 25,110 | 25,364 |
| Cost of sales | 7,818 | 7,085 | 7,373 |
| Excise taxes on products | 5,312 | 5,314 | 5,737 |
| Gross profit | 13,023 | 12,711 | 12,254 |
| Marketing, administration and research costs | 2,154 | 2,226 | 2,756 |
| Asset impairment and exit costs | (4) | 159 | 383 |
| Operating income | 10,873 | 10,326 | 9,115 |
| Interest and other debt expense, net | 1,209 | 1,280 | 665 |
| Net periodic benefit income, excluding service cost | (77) | (37) | (34) |
| (Income) losses from equity investments | 111 | (1,725) | (890) |
| Impairment of JUUL equity securities | 2,600 | 8,600 | 0 |
| Loss on Cronos-related financial instruments | 140 | 1,442 | 0 |
| Loss on ABI/SABMiller business combination | 0 | 0 | 33 |
| Earnings before income taxes | 6,890 | 766 | 9,341 |
| Provision for income taxes | 2,436 | 2,064 | 2,374 |
| Net earnings (losses) | 4,454 | (1,298) | 6,967 |
| Net (earnings) losses attributable to noncontrolling interests | 13 | 5 | (4) |
| Net earnings (losses) attributable to Altria | 4,467 | (1,293) | 6,963 |
| Per share data: | |||
| Basic earnings (losses) per share attributable to Altria (in usd per share) | 2.40 | (0.70) | 3.69 |
| Diluted earnings (losses) per share attributable to Altria (in usd per share) | 2.40 | (0.70) | 3.68 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ALTRIA GROUP, INC. | |||
Ticker: MO Fiscal Year: 2020 | |||
Consolidated Statements of Comprehensive Earnings (Losses) | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 26, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Net earnings (losses) | $ 4,454 | (1,298) | 6,967 |
| Other comprehensive earnings (losses), net of deferred income taxes: | |||
| Benefit plans | (228) | (24) | 68 |
| ABI | (1,245) | (319) | (309) |
| Currency translation adjustments and other | (4) | 26 | (1) |
| Other comprehensive earnings (losses), net of deferred income taxes | (1,477) | (317) | (242) |
| Comprehensive earnings (losses) | 2,977 | (1,615) | 6,725 |
| Comprehensive (earnings) losses attributable to noncontrolling interests | 13 | 5 | (4) |
| Comprehensive earnings (losses) attributable to Altria | 2,990 | (1,610) | 6,721 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ALTRIA GROUP, INC. | |||
Ticker: MO Fiscal Year: 2020 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 26, 2021) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Cash Provided by (Used in) Operating Activities | |||
| Net earnings (losses) | $ 4,454 | (1,298) | 6,967 |
| Adjustments to reconcile net earnings (losses) to operating cash flows: | |||
| Depreciation and amortization | 257 | 226 | 227 |
| Deferred income tax benefit | (164) | (95) | (57) |
| (Income) losses from equity investments | 111 | (1,725) | (890) |
| Loss on ABI/SABMiller business combination | 0 | 0 | 33 |
| Dividends from ABI | 108 | 396 | 657 |
| Loss on Cronos-related financial instruments | 140 | 1,442 | 0 |
| Impairment of JUUL equity securities | 2,600 | 8,600 | 0 |
| Asset impairment and exit costs, net of cash paid | (51) | 41 | 354 |
| Cash effects of changes: | |||
| Receivables | 20 | (8) | 0 |
| Inventories | 2 | 42 | (129) |
| Accounts payable | 53 | (79) | 27 |
| Income taxes | (29) | 89 | 218 |
| Accrued liabilities and other current assets | (15) | 11 | (21) |
| Accrued settlement charges | 218 | (108) | 980 |
| Pension plan contributions | (33) | (56) | (41) |
| Pension provisions and postretirement, net | (49) | (52) | (13) |
| Other, net | 763 | 411 [1] | 79 |
| Net cash provided by (used in) operating activities | 8,385 | 7,837 | 8,391 |
| Cash Provided by (Used in) Investing Activities | |||
| Capital expenditures | (231) | (246) | (238) |
| Acquisitions of businesses and assets | 0 | (421) | (15) |
| Investment in JUUL | 0 | (5) | (12,800) |
| Investment in Cronos | 0 | (1,899) | 0 |
| Other, net | 88 | 173 | 65 |
| Net cash (used in) provided by investing activities | (143) | (2,398) | (12,988) |
| Cash Provided by (Used in) Financing Activities | |||
| Proceeds from short-term borrowings | 3,000 | 0 | 12,800 |
| Repayment of short-term borrowings | (3,000) | (12,800) | 0 |
| Long-term debt issued | 1,993 | 16,265 | 0 |
| Long-term debt repaid | (1,000) | (1,144) | (864) |
| Repurchases of common stock | 0 | (845) | (1,673) |
| Dividends paid on common stock | (6,290) | (6,069) | (5,415) |
| Other, net | (99) | (119) | (132) |
| Net cash used in financing activities | (5,396) | (4,712) | 4,716 |
| Cash, cash equivalents and restricted cash: | |||
| Increase (decrease) | 2,846 | 727 | 119 |
| Balance at beginning of year | 2,160 | 1,433 | 1,314 |
| Balance at end of year | 5,006 | 2,160 | 1,433 |
| Cash paid: Interest | 1,246 | 991 | 704 |
| Cash Paid: Income taxes | 2,616 | 1,977 | 2,307 |
| Cash and cash equivalents | 4,945 | 2,117 | 1,333 |
| Restricted cash included in other current assets | 1 | 0 | 57 |
| Restricted cash included in other assets | 60 | 43 [2] | 43 |
| Cash, cash equivalents and restricted cash | 5,006 | 2,160 | 1,433 |
| [2] Restricted cash consisted of cash deposits collateralizing appeal bonds posted by PM USA to obtain stays of judgments pending appeals. See Note 18. Contingencies. | |||
| [1] 2020 reflects inventory-related amounts associated with the Wine Business Strategic Reset. For further discussion, see Note 5. Asset Impairment, Exit and Implementation Costs. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ALTRIA GROUP, INC. | ||
Ticker: MO Fiscal Year: 2020 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2020 10-K (Filed: Feb 26, 2021) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2020 | Dec 31, 2019 | |
| Assets | ||
| Cash and cash equivalents | $ 4,945 | 2,117 |
| Receivables | 137 | 152 |
| Inventories: | ||
| Leaf tobacco | 844 | 874 |
| Other raw materials | 200 | 192 |
| Work in process | 502 | 696 |
| Finished product | 420 | 531 |
| Inventory, net | 1,966 | 2,293 |
| Other current assets | 69 | 262 |
| Total current assets | 7,117 | 4,824 |
| Property, plant and equipment, at cost: | ||
| Land and land improvements | 348 | 353 |
| Buildings and building equipment | 1,480 | 1,461 |
| Machinery and equipment | 3,010 | 2,998 |
| Construction in progress | 312 | 262 |
| Property, plant and equipment, at cost | 5,150 | 5,074 |
| Less accumulated depreciation | 3,138 | 3,075 |
| Property, plant and equipment, net | 2,012 | 1,999 |
| Goodwill | 5,177 | 5,177 |
| Other intangible assets, net | 12,615 | 12,687 |
| Investments in equity securities ($1,868 million and $303 million at December 31, 2020 and 2019, respectively, measured at fair value) | 19,529 | 23,581 |
| Other assets | 964 | 1,003 |
| Total Assets | 47,414 | 49,271 |
| Liabilities | ||
| Current portion of long-term debt | 1,500 | 1,000 |
| Accounts payable | 380 | 325 |
| Accrued liabilities: | ||
| Marketing | 523 | 393 |
| Settlement charges | 3,564 | 3,346 |
| Other | 1,494 | 1,545 |
| Dividends payable | 1,602 | 1,565 |
| Total current liabilities | 9,063 | 8,174 |
| Long-term debt | 27,971 | 27,042 |
| Deferred income taxes | 4,532 | 5,083 |
| Accrued pension costs | 551 | 473 |
| Accrued postretirement health care costs | 1,951 | 1,797 |
| Other liabilities | 381 | 345 |
| Total liabilities | 44,449 | 42,914 |
| Contingencies | ||
| Redeemable noncontrolling interest | 40 | 38 |
| Stockholders Equity | ||
| Common stock, par value $0.33 1/3 per share (2,805,961,317 shares issued) | 935 | 935 |
| Additional paid-in capital | 5,910 | 5,970 |
| Earnings reinvested in the business | 34,679 | 36,539 |
| Accumulated other comprehensive losses | (4,341) | (2,864) |
| Cost of repurchased stock (947,542,152 shares at December 31, 2020 and 947,979,763 shares at December 31, 2019) | (34,344) | (34,358) |
| Total stockholders equity attributable to Altria | 2,839 | 6,222 |
| Noncontrolling interests | 86 | 97 |
| Total stockholders equity | 2,925 | 6,319 |
| Total Liabilities and Stockholders Equity | 47,414 | 49,271 |
| External Links | |
| ALTRIA GROUP, INC. (MO) Fiscal Year 2020 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |