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