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 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 |
| [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. | |||
| [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. | |||
| 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 |