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: 2021 | |||
Consolidated Statements of Earnings (Losses) | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 25, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Net revenues | $ 26,013 | 26,153 | 25,110 |
| Cost of sales | 7,119 | 7,818 | 7,085 |
| Excise taxes on products | 4,902 | 5,312 | 5,314 |
| Gross profit | 13,992 | 13,023 | 12,711 |
| Marketing, administration and research costs | 2,432 | 2,154 | 2,226 |
| Asset impairment and exit costs | 0 | (4) | 159 |
| Operating income | 11,560 | 10,873 | 10,326 |
| Interest and other debt expense, net | 1,162 | 1,209 | 1,280 |
| Net periodic benefit income, excluding service cost | (202) | (77) | (37) |
| Loss on early extinguishment of debt | 649 | 0 | 0 |
| (Income) losses from equity investments | 5,979 | 111 | (1,725) |
| Impairment of JUUL equity securities | 0 | 2,600 | 8,600 |
| Loss on Cronos-related financial instruments | 148 | 140 | 1,442 |
| Earnings before income taxes | 3,824 | 6,890 | 766 |
| Provision for income taxes | 1,349 | 2,436 | 2,064 |
| Net earnings (losses) | 2,475 | 4,454 | (1,298) |
| Net losses attributable to noncontrolling interests | 0 | 13 | 5 |
| Net earnings (losses) attributable to Altria | 2,475 | 4,467 | (1,293) |
| Per share data: | |||
| Basic earnings (losses) per share attributable to Altria (in usd per share) | 1.34 | 2.40 | (0.70) |
| Diluted earnings (losses) per share attributable to Altria (in usd per share) | 1.34 | 2.40 | (0.70) |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ALTRIA GROUP, INC. | |||
Ticker: MO Fiscal Year: 2021 | |||
Consolidated Statements of Comprehensive Earnings (Losses) | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 25, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Net earnings (losses) | $ 2,475 | 4,454 | (1,298) |
| Other comprehensive earnings (losses), net of deferred income taxes: | |||
| Benefit plans | 808 | (228) | (24) |
| ABI | 426 | (1,245) | (319) |
| Currency translation adjustments and other | 51 | (4) | 26 |
| Other comprehensive earnings (losses), net of deferred income taxes | 1,285 | (1,477) | (317) |
| Comprehensive earnings (losses) | 3,760 | 2,977 | (1,615) |
| Comprehensive losses attributable to noncontrolling interests | 0 | 13 | 5 |
| Comprehensive earnings (losses) attributable to Altria | 3,760 | 2,990 | (1,610) |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ALTRIA GROUP, INC. | |||
Ticker: MO Fiscal Year: 2021 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2021 10-K (Filed: Feb 25, 2022) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
| Cash Provided by (Used in) Operating Activities | |||
| Net earnings (losses) | $ 2,475 | 4,454 | (1,298) |
| Adjustments to reconcile net earnings (losses) to operating cash flows: | |||
| Depreciation and amortization | 244 | 257 | 226 |
| Deferred income tax benefit | (1,160) | (164) | (95) |
| (Income) losses from equity investments | 5,979 | 111 | (1,725) |
| Dividends from ABI | 119 | 108 | 396 |
| Loss on Cronos-related financial instruments | 148 | 140 | 1,442 |
| Impairment of JUUL equity securities | 0 | 2,600 | 8,600 |
| Loss on early extinguishment of debt | 649 | 0 | 0 |
| Cash effects of changes: | |||
| Receivables | (18) | 20 | (8) |
| Inventories | 57 | 2 | 42 [1] |
| Accounts payable | 163 | 53 | (79) |
| Income taxes | (149) | (29) | 89 |
| Accrued liabilities and other current assets | (165) | 15 | (11) |
| Accrued settlement charges | (215) | 218 | (108) |
| Pension plan contributions | (26) | (33) | (56) |
| Pension provisions and postretirement, net | (175) | (49) | (52) |
| Other, net | 149 | 712 [2] | 452 |
| Net cash provided by (used in) operating activities | 8,405 | 8,385 | 7,837 |
| Cash Provided by (Used in) Investing Activities | |||
| Capital expenditures | (169) | (231) | (246) |
| Acquisitions of businesses and assets | 0 | 0 | (421) |
| Investment in Cronos | 0 | 0 | (1,899) |
| Proceeds from divestiture of businesses, net of cash divested | 1,176 | 0 | 0 |
| Other, net | 205 | 88 | 168 |
| Net cash (used in) provided by investing activities | 1,212 | (143) | (2,398) |
| Cash Provided by (Used in) Financing Activities | |||
| Proceeds from short-term borrowings | 0 | 3,000 | 0 |
| Repayment of short-term borrowings | 0 | (3,000) | (12,800) |
| Long-term debt issued | 5,472 | 1,993 | 16,265 |
| Long-term debt repaid | (6,542) | (1,000) | (1,144) |
| Repurchases of common stock | (1,675) | 0 | (845) |
| Dividends paid on common stock | (6,446) | (6,290) | (6,069) |
| Premiums and fees related to early extinguishment of debt | (623) | 0 | 0 |
| Other, net | (215) | (99) | (119) |
| Net cash provided by (used in) financing activities | (10,029) | (5,396) | (4,712) |
| Cash, cash equivalents and restricted cash: | |||
| Increase (decrease) | (412) | 2,846 | 727 |
| Balance at beginning of year | 5,006 | 2,160 | 1,433 |
| Balance at end of year | 4,594 | 5,006 | 2,160 |
| Cash paid: Interest | 1,189 | 1,246 | 991 |
| Cash Paid: Income taxes | 2,673 | 2,616 | 1,977 |
| Cash and cash equivalents | 4,544 | 4,945 | 2,117 |
| Restricted cash included in other current assets | 0 | 1 | 0 |
| Restricted cash included in other assets | 50 | 60 | 43 [3] |
| Cash, cash equivalents and restricted cash | 4,594 | 5,006 | 2,160 |
| [2] 2020 primarily reflects inventory-related amounts associated with the wine business strategic reset. For further discussion, see Note 5. Asset Impairment, Exit and Implementation Costs. | |||
| [3] 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] 2021 amounts reflect changes from operations for Ste. Michelle prior to the Ste. Michelle Transaction. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ALTRIA GROUP, INC. | ||
Ticker: MO Fiscal Year: 2021 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2021 10-K (Filed: Feb 25, 2022) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2021 | Dec 31, 2020 | |
| Assets | ||
| Cash and cash equivalents | $ 4,544 | 4,945 |
| Receivables | 47 | 137 |
| Inventories: | ||
| Leaf tobacco | 744 | 844 |
| Other raw materials | 166 | 200 |
| Work in process | 23 | 502 |
| Finished product | 261 | 420 |
| Inventory, net | 1,194 | 1,966 |
| Other current assets | 298 | 69 |
| Total current assets | 6,083 | 7,117 |
| Property, plant and equipment, at cost: | ||
| Land and land improvements | 123 | 348 |
| Buildings and building equipment | 1,422 | 1,480 |
| Machinery and equipment | 2,652 | 3,010 |
| Construction in progress | 235 | 312 |
| Property, plant and equipment, at cost | 4,432 | 5,150 |
| Less accumulated depreciation | 2,879 | 3,138 |
| Property, plant and equipment, net | 1,553 | 2,012 |
| Goodwill | 5,177 | 5,177 |
| Other intangible assets, net | 12,306 | 12,615 |
| Investments in equity securities ($1,720 million and $1,868 million at December 31, 2021 and 2020, respectively, measured at fair value) | 13,481 | 19,529 |
| Other assets | 923 | 964 |
| Total Assets | 39,523 | 47,414 |
| Liabilities | ||
| Current portion of long-term debt | 1,105 | 1,500 |
| Accounts payable | 449 | 380 |
| Accrued liabilities: | ||
| Marketing | 664 | 523 |
| Settlement charges | 3,349 | 3,564 |
| Other | 1,365 | 1,494 |
| Dividends payable | 1,647 | 1,602 |
| Total current liabilities | 8,579 | 9,063 |
| Long-term debt | 26,939 | 27,971 |
| Deferred income taxes | 3,692 | 4,532 |
| Accrued pension costs | 200 | 551 |
| Accrued postretirement health care costs | 1,436 | 1,951 |
| Other liabilities | 283 | 381 |
| Total liabilities | 41,129 | 44,449 |
| Contingencies | ||
| Redeemable noncontrolling interest | 0 | 40 |
| Stockholders Equity (Deficit) | ||
| Common stock, par value $0.33 1/3 per share (2,805,961,317 shares issued) | 935 | 935 |
| Additional paid-in capital | 5,857 | 5,910 |
| Earnings reinvested in the business | 30,664 | 34,679 |
| Accumulated other comprehensive losses | (3,056) | (4,341) |
| Cost of repurchased stock (982,785,699 shares at December 31, 2021 and 947,542,152 shares at December 31, 2020) | (36,006) | (34,344) |
| Total stockholders equity (deficit) attributable to Altria | (1,606) | 2,839 |
| Noncontrolling interests | 0 | 86 |
| Total stockholders equity (deficit) | (1,606) | 2,925 |
| Total Liabilities and Stockholders Equity (Deficit) | 39,523 | 47,414 |
| External Links | |
| ALTRIA GROUP, INC. (MO) Fiscal Year 2021 | |
| 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 |