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 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 |
| [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 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. | |||
| 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 |