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: 2022 | |||
Consolidated Statements of Earnings | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 27, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Net revenues | $ 25,096 | 26,013 | 26,153 |
| Cost of sales | 6,442 | 7,119 | 7,818 |
| Excise taxes on products | 4,408 | 4,902 | 5,312 |
| Gross profit | 14,246 | 13,992 | 13,023 |
| Marketing, administration and research costs | 2,327 | 2,432 | 2,150 |
| Operating income | 11,919 | 11,560 | 10,873 |
| Interest and other debt expense, net | 1,058 | 1,162 | 1,209 |
| Loss on early extinguishment of debt | 0 | 649 | 0 |
| Net periodic defined benefits expense (reversal of expense) | (184) | (202) | (77) |
| (Income) losses from investments in equity securities | 3,641 | 5,979 | 111 |
| Impairment of JUUL equity securities | 0 | 0 | 2,600 |
| Loss on Cronos-related financial instruments | 15 | 148 | 140 |
| Earnings before income taxes | 7,389 | 3,824 | 6,890 |
| Provision for income taxes | 1,625 | 1,349 | 2,436 |
| Net earnings | 5,764 | 2,475 | 4,454 |
| Net losses attributable to noncontrolling interests | 0 | 0 | 13 |
| Net earnings attributable to Altria | 5,764 | 2,475 | 4,467 |
| Per share data: | |||
| Basic earnings per share attributable to Altria (in usd per share) | 3.19 | 1.34 | 2.40 |
| Diluted earnings per share attributable to Altria (in usd per share) | 3.19 | 1.34 | 2.40 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ALTRIA GROUP, INC. | |||
Ticker: MO Fiscal Year: 2022 | |||
Consolidated Statements of Comprehensive Earnings | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 27, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| Net earnings (losses) | $ 5,764 | 2,475 | 4,454 |
| Other comprehensive earnings (losses), net of deferred income taxes: | |||
| Benefit plans | 176 | 808 | (228) |
| ABI | 143 | 426 | (1,245) |
| Currency translation adjustments and other | (34) | 51 | (4) |
| Other comprehensive earnings (losses), net of deferred income taxes | 285 | 1,285 | (1,477) |
| Comprehensive earnings | 6,049 | 3,760 | 2,977 |
| Comprehensive losses attributable to noncontrolling interests | 0 | 0 | 13 |
| Comprehensive earnings attributable to Altria | 6,049 | 3,760 | 2,990 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
ALTRIA GROUP, INC. | |||
Ticker: MO Fiscal Year: 2022 | |||
Consolidated Statements of Cash Flows | |||
Period Ending Dec 31, 2022 10-K (Filed: Feb 27, 2023) | |||
| (In Millions, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
| 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) |
| (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 | 0 | 649 | 0 |
| Cash effects of changes: | |||
| Receivables | (21) | (18) | 20 |
| Inventories | 14 | 57 | 2 |
| Accounts payable | 92 | 163 | 53 [1] |
| Income taxes | (118) | (149) | (29) |
| Accrued liabilities and other current assets | (129) | 165 | (15) |
| Accrued settlement charges | (424) | (215) | 218 |
| Pension plan contributions | (20) | (26) | (33) |
| Pension and postretirement, net | (156) | (175) | (49) |
| Other, net | 215 | 149 [2] | 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 | 4,594 | 5,006 | 2,160 |
| Balance at end of year | 4,091 | 4,594 | 5,006 |
| 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 | 15 | 0 [3] | 1 |
| Restricted cash included in other assets | 46 | 50 | 60 |
| Cash, cash equivalents and restricted cash | 4,091 | 4,594 | 5,006 |
| [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. | |||
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
ALTRIA GROUP, INC. | ||
Ticker: MO Fiscal Year: 2022 | ||
Consolidated Balance Sheets | ||
Period Ending Dec 31, 2022 10-K (Filed: Feb 27, 2023) | ||
| (In Millions, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2022 | Dec 31, 2021 | |
| Assets | ||
| Cash and cash equivalents | $ 4,030 | 4,544 |
| Receivable from the sale of IQOS System commercialization rights | 1,721 | 0 |
| Other | 48 | 47 |
| Inventories: | ||
| Leaf tobacco | 704 | 744 |
| Other raw materials | 186 | 166 |
| Work in process | 24 | 23 |
| Finished product | 266 | 261 |
| Inventory, net | 1,180 | 1,194 |
| Other current assets | 241 | 298 |
| Total current assets | 7,220 | 6,083 |
| Property, plant and equipment, at cost: | ||
| Land and land improvements | 123 | 123 |
| Buildings and building equipment | 1,478 | 1,422 |
| Machinery and equipment | 2,578 | 2,652 |
| Construction in progress | 248 | 235 |
| Property, plant and equipment, at cost | 4,427 | 4,432 |
| Less accumulated depreciation | 2,819 | 2,879 |
| Property, plant and equipment, net | 1,608 | 1,553 |
| Goodwill | 5,177 | 5,177 |
| Other intangible assets, net | 12,384 | 12,306 |
| Investments in equity securities ($250 million and $1,720 million at December 31, 2022 and 2021, respectively, measured at fair value) | 9,600 | 13,481 |
| Other assets | 965 | 923 |
| Total Assets | 36,954 | 39,523 |
| Liabilities | ||
| Current portion of long-term debt | 1,556 | 1,105 |
| Accounts payable | 552 | 449 |
| Accrued liabilities: | ||
| Marketing | 599 | 664 |
| Settlement charges | 2,925 | 3,349 |
| Other | 1,299 | 1,365 |
| Dividends payable | 1,685 | 1,647 |
| Total current liabilities | 8,616 | 8,579 |
| Long-term debt | 25,124 | 26,939 |
| Deferred income taxes | 2,897 | 3,692 |
| Accrued pension costs | 133 | 200 |
| Accrued postretirement health care costs | 1,083 | 1,436 |
| Deferred gain from the sale of IQOS System commercialization rights | 2,700 | 0 |
| Other liabilities | 324 | 283 |
| Total liabilities | 40,877 | 41,129 |
| Contingencies (Note 17) | ||
| 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 | 5,887 | 5,857 |
| Earnings reinvested in the business | 29,792 | 30,664 |
| Accumulated other comprehensive losses | (2,771) | (3,056) |
| Cost of repurchased stock (1,020,427,195 shares at December 31, 2022 and 982,785,699 shares at December 31, 2021) | (37,816) | (36,006) |
| Total stockholders equity (deficit) attributable to Altria | (3,973) | (1,606) |
| Noncontrolling interests | 50 | 0 |
| Total stockholders equity (deficit) | (3,923) | (1,606) |
| Total Liabilities and Stockholders Equity (Deficit) | 36,954 | 39,523 |
| External Links | |
| ALTRIA GROUP, INC. (MO) Fiscal Year 2022 | |
| 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 |