XML 64 R18.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Condensed Consolidating Financial Information | 3 Months Ended
--- | ---
Mar. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Condensed Consolidating Financial Information | Condensed Consolidating Financial Information: PM USA, which is a wholly-owned subsidiary of Altria Group, Inc., has guaranteed Altria Group, Inc.’s obligations under its outstanding debt securities, borrowings under the Credit Agreement and amounts outstanding under its commercial paper program (the “Guarantees”). Pursuant to the Guarantees, PM USA fully and unconditionally guarantees, as primary obligor, the payment and performance of Altria Group, Inc.’s obligations under the guaranteed debt instruments (the “Obligations”), subject to release under certain customary circumstances as noted below. The Guarantees provide that PM USA guarantees the punctual payment when due, whether at stated maturity, by acceleration or otherwise, of the Obligations. The liability of PM USA under the Guarantees is absolute and unconditional irrespective of: any lack of validity, enforceability or genuineness of any provision of any agreement or instrument relating thereto; any change in the time, manner or place of payment of, or in any other term of, all or any of the Obligations, or any other amendment or waiver of or any consent to departure from any agreement or instrument relating thereto; any exchange, release or non-perfection of any collateral, or any release or amendment or waiver of or consent to departure from any other guarantee, for all or any of the Obligations; or any other circumstance that might otherwise constitute a defense available to, or a discharge of, Altria Group, Inc. or PM USA. The obligations of PM USA under the Guarantees are limited to the maximum amount as will, after giving effect to such maximum amount and all other contingent and fixed liabilities of PM USA that are relevant under Bankruptcy Law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar federal or state law to the extent applicable to the Guarantees, result in PM USA’s obligations under the Guarantees not constituting a fraudulent transfer or conveyance. For this purpose, “Bankruptcy Law” means Title 11, U.S. Code, or any similar federal or state law for the relief of debtors. PM USA will be unconditionally released and discharged from the Obligations upon the earliest to occur of:
• | the date, if any, on which PM USA consolidates with or merges into Altria Group, Inc. or any successor;
• | the date, if any, on which Altria Group, Inc. or any successor consolidates with or merges into PM USA;
• | the payment in full of the Obligations pertaining to such Guarantees; and
• | the rating of Altria Group, Inc.’s long-term senior unsecured debt by Standard & Poor’s of A or higher.
At March 31, 2014, the respective principal wholly-owned subsidiaries of Altria Group, Inc. and PM USA were not limited by long-term debt or other agreements in their ability to pay cash dividends or make other distributions with respect to their common stock. The following sets forth the condensed consolidating balance sheets as of March 31, 2014 and December 31, 2013, condensed consolidating statements of earnings and comprehensive earnings for the three months ended March 31, 2014 and 2013, and condensed consolidating statements of cash flows for the three months ended March 31, 2014 and 2013 for Altria Group, Inc., PM USA and Altria Group, Inc.’s other subsidiaries that are not guarantors of Altria Group, Inc.’s debt instruments (the “Non-Guarantor Subsidiaries”). The financial information is based on Altria Group, Inc.’s understanding of the Securities and Exchange Commission (“SEC”) interpretation and application of Rule 3-10 of SEC Regulation S-X. The financial information may not necessarily be indicative of results of operations or financial position had PM USA and the Non-Guarantor Subsidiaries operated as independent entities. Altria Group, Inc. and PM USA account for investments in their subsidiaries under the equity method of accounting. Condensed Consolidating Balance Sheets March 31, 2014 (in millions of dollars)
|  | Altria Group, Inc. |  | PM USA |  | Non- Guarantor Subsidiaries |  | Total Consolidating Adjustments |  | Consolidated
Assets |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 3,579 |  |  | $ | 1 |  |  | $ | 40 |  |  | $ | — |  |  | $ | 3,620 |
Receivables |  | — |  |  | 11 |  |  | 102 |  |  | — |  |  | 113 |
Inventories: |  |  |  |  |  |  |  |  |  |
Leaf tobacco |  | — |  |  | 600 |  |  | 376 |  |  | — |  |  | 976 |
Other raw materials |  | — |  |  | 124 |  |  | 64 |  |  | — |  |  | 188 |
Work in process |  | — |  |  | 9 |  |  | 370 |  |  | — |  |  | 379 |
Finished product |  | — |  |  | 186 |  |  | 241 |  |  | — |  |  | 427 |
|  | — |  |  | 919 |  |  | 1,051 |  |  | — |  |  | 1,970 |
Due from Altria Group, Inc. and subsidiaries |  | 735 |  |  | 4,628 |  |  | 1,844 |  |  | (7,207 | ) |  | — |
Deferred income taxes |  | 2 |  |  | 1,133 |  |  | 26 |  |  | (61 | ) |  | 1,100 |
Other current assets |  | 244 |  |  | 76 |  |  | 93 |  |  | (239 | ) |  | 174 |
Total current assets |  | 4,560 |  |  | 6,768 |  |  | 3,156 |  |  | (7,507 | ) |  | 6,977 |
Property, plant and equipment, at cost |  | 2 |  |  | 3,265 |  |  | 1,561 |  |  | — |  |  | 4,828 |
Less accumulated depreciation |  | 2 |  |  | 2,188 |  |  | 635 |  |  | — |  |  | 2,825 |
|  | — |  |  | 1,077 |  |  | 926 |  |  | — |  |  | 2,003 |
Goodwill |  | — |  |  | — |  |  | 5,174 |  |  | — |  |  | 5,174 |
Other intangible assets, net |  | — |  |  | 2 |  |  | 12,051 |  |  | — |  |  | 12,053 |
Investment in SABMiller |  | 6,734 |  |  | — |  |  | — |  |  | — |  |  | 6,734 |
Investment in consolidated subsidiaries |  | 11,259 |  |  | 2,993 |  |  | — |  |  | (14,252 | ) |  | — |
Finance assets, net |  | — |  |  | — |  |  | 1,874 |  |  | — |  |  | 1,874 |
Due from Altria Group, Inc. and subsidiaries |  | 4,790 |  |  | — |  |  | — |  |  | (4,790 | ) |  | — |
Other assets |  | 156 |  |  | 463 |  |  | 244 |  |  | (272 | ) |  | 591 |
Total Assets |  | $ | 27,499 |  |  | $ | 11,303 |  |  | $ | 23,425 |  |  | $ | (26,821 | ) |  | $ | 35,406 |
Condensed Consolidating Balance Sheets (Continued) March 31, 2014 (in millions of dollars)
|  | Altria Group, Inc. |  | PM USA |  | Non- Guarantor Subsidiaries |  | Total Consolidating Adjustments |  | Consolidated
Liabilities |  |  |  |  |  |  |  |  |  |
Accounts payable |  | $ | 26 |  |  | $ | 146 |  |  | $ | 149 |  |  | $ | — |  |  | $ | 321 |
Accrued liabilities: |  |  |  |  |  |  |  |  |  |
Marketing |  | — |  |  | 418 |  |  | 25 |  |  | — |  |  | 443 |
Employment costs |  | 11 |  |  | 9 |  |  | 45 |  |  | — |  |  | 65 |
Settlement charges |  | — |  |  | 4,303 |  |  | 7 |  |  | — |  |  | 4,310 |
Other |  | 333 |  |  | 476 |  |  | 222 |  |  | (61 | ) |  | 970 |
Income taxes |  | — |  |  | 559 |  |  | 198 |  |  | (239 | ) |  | 518 |
Dividends payable |  | 957 |  |  | — |  |  | — |  |  | — |  |  | 957 |
Due to Altria Group, Inc. and subsidiaries |  | 6,016 |  |  | 457 |  |  | 734 |  |  | (7,207 | ) |  | — |
Total current liabilities |  | 7,343 |  |  | 6,368 |  |  | 1,380 |  |  | (7,507 | ) |  | 7,584 |
Long-term debt |  | 13,692 |  |  | — |  |  | 300 |  |  | — |  |  | 13,992 |
Deferred income taxes |  | 1,999 |  |  | — |  |  | 5,181 |  |  | (272 | ) |  | 6,908 |
Accrued pension costs |  | 197 |  |  | — |  |  | 16 |  |  | — |  |  | 213 |
Accrued postretirement health care costs |  | — |  |  | 1,425 |  |  | 731 |  |  | — |  |  | 2,156 |
Due to Altria Group, Inc. and subsidiaries |  | — |  |  | — |  |  | 4,790 |  |  | (4,790 | ) |  | — |
Other liabilities |  | 153 |  |  | 129 |  |  | 124 |  |  | — |  |  | 406 |
Total liabilities |  | 23,384 |  |  | 7,922 |  |  | 12,522 |  |  | (12,569 | ) |  | 31,259 |
Contingencies |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Redeemable noncontrolling interest |  | — |  |  | — |  |  | 34 |  |  | — |  |  | 34 |
Stockholders’ Equity |  |  |  |  |  |  |  |  |  |
Common stock |  | 935 |  |  | — |  |  | 9 |  |  | (9 | ) |  | 935 |
Additional paid-in capital |  | 5,678 |  |  | 3,310 |  |  | 10,568 |  |  | (13,878 | ) |  | 5,678 |
Earnings reinvested in the business |  | 25,388 |  |  | 300 |  |  | 1,253 |  |  | (1,553 | ) |  | 25,388 |
Accumulated other comprehensive losses |  | (1,318 | ) |  | (229 | ) |  | (959 | ) |  | 1,188 |  |  | (1,318 | )
Cost of repurchased stock |  | (26,568 | ) |  | — |  |  | — |  |  | — |  |  | (26,568 | )
Total stockholders’ equity attributable to Altria Group, Inc. |  | 4,115 |  |  | 3,381 |  |  | 10,871 |  |  | (14,252 | ) |  | 4,115 |
Noncontrolling interests |  | — |  |  | — |  |  | (2 | ) |  | — |  |  | (2 | )
Total stockholders’ equity |  | 4,115 |  |  | 3,381 |  |  | 10,869 |  |  | (14,252 | ) |  | 4,113 |
Total Liabilities and Stockholders’ Equity |  | $ | 27,499 |  |  | $ | 11,303 |  |  | $ | 23,425 |  |  | $ | (26,821 | ) |  | $ | 35,406 |
Condensed Consolidating Balance Sheets December 31, 2013 (in millions of dollars)
|  | Altria Group, Inc. |  | PM USA |  | Non- Guarantor Subsidiaries |  | Total Consolidating Adjustments |  | Consolidated
Assets |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 3,114 |  |  | $ | 1 |  |  | $ | 60 |  |  | $ | — |  |  | $ | 3,175 |
Receivables |  | — |  |  | 11 |  |  | 104 |  |  | — |  |  | 115 |
Inventories: |  |  |  |  |  |  |  |  |  |
Leaf tobacco |  | — |  |  | 564 |  |  | 369 |  |  | — |  |  | 933 |
Other raw materials |  | — |  |  | 121 |  |  | 59 |  |  | — |  |  | 180 |
Work in process |  | — |  |  | 3 |  |  | 391 |  |  | — |  |  | 394 |
Finished product |  | — |  |  | 141 |  |  | 231 |  |  | — |  |  | 372 |
|  | — |  |  | 829 |  |  | 1,050 |  |  | — |  |  | 1,879 |
Due from Altria Group, Inc. and subsidiaries |  | 590 |  |  | 3,253 |  |  | 1,706 |  |  | (5,549 | ) |  | — |
Deferred income taxes |  | 2 |  |  | 1,133 |  |  | 26 |  |  | (61 | ) |  | 1,100 |
Other current assets |  | 109 |  |  | 125 |  |  | 105 |  |  | (18 | ) |  | 321 |
Total current assets |  | 3,815 |  |  | 5,352 |  |  | 3,051 |  |  | (5,628 | ) |  | 6,590 |
Property, plant and equipment, at cost |  | 2 |  |  | 3,269 |  |  | 1,546 |  |  | — |  |  | 4,817 |
Less accumulated depreciation |  | 2 |  |  | 2,168 |  |  | 619 |  |  | — |  |  | 2,789 |
|  | — |  |  | 1,101 |  |  | 927 |  |  | — |  |  | 2,028 |
Goodwill |  | — |  |  | — |  |  | 5,174 |  |  | — |  |  | 5,174 |
Other intangible assets, net |  | — |  |  | 2 |  |  | 12,056 |  |  | — |  |  | 12,058 |
Investment in SABMiller |  | 6,455 |  |  | — |  |  | — |  |  | — |  |  | 6,455 |
Investment in consolidated subsidiaries |  | 11,227 |  |  | 2,988 |  |  | — |  |  | (14,215 | ) |  | — |
Finance assets, net |  | — |  |  | — |  |  | 1,997 |  |  | — |  |  | 1,997 |
Due from Altria Group, Inc. and subsidiaries |  | 4,790 |  |  | — |  |  | — |  |  | (4,790 | ) |  | — |
Other assets |  | 157 |  |  | 455 |  |  | 218 |  |  | (273 | ) |  | 557 |
Total Assets |  | $ | 26,444 |  |  | $ | 9,898 |  |  | $ | 23,423 |  |  | $ | (24,906 | ) |  | $ | 34,859 |
Condensed Consolidating Balance Sheets (Continued) December 31, 2013 (in millions of dollars)
|  | Altria Group, Inc. |  | PM USA |  | Non- Guarantor Subsidiaries |  | Total Consolidating Adjustments |  | Consolidated
Liabilities |  |  |  |  |  |  |  |  |  |
Current portion of long-term debt |  | $ | 525 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 525 |
Accounts payable |  | 26 |  |  | 106 |  |  | 277 |  |  | — |  |  | 409 |
Accrued liabilities: |  |  |  |  |  |  |  |  |  |
Marketing |  | — |  |  | 464 |  |  | 48 |  |  | — |  |  | 512 |
Employment costs |  | 94 |  |  | 10 |  |  | 151 |  |  | — |  |  | 255 |
Settlement charges |  | — |  |  | 3,386 |  |  | 5 |  |  | — |  |  | 3,391 |
Other |  | 302 |  |  | 531 |  |  | 253 |  |  | (79 | ) |  | 1,007 |
Dividends payable |  | 959 |  |  | — |  |  | — |  |  | — |  |  | 959 |
Due to Altria Group, Inc. and subsidiaries |  | 4,487 |  |  | 473 |  |  | 589 |  |  | (5,549 | ) |  | — |
Total current liabilities |  | 6,393 |  |  | 4,970 |  |  | 1,323 |  |  | (5,628 | ) |  | 7,058 |
Long-term debt |  | 13,692 |  |  | — |  |  | 300 |  |  | — |  |  | 13,992 |
Deferred income taxes |  | 1,867 |  |  | — |  |  | 5,260 |  |  | (273 | ) |  | 6,854 |
Accrued pension costs |  | 197 |  |  | — |  |  | 15 |  |  | — |  |  | 212 |
Accrued postretirement health care costs |  | — |  |  | 1,437 |  |  | 718 |  |  | — |  |  | 2,155 |
Due to Altria Group, Inc. and subsidiaries |  | — |  |  | — |  |  | 4,790 |  |  | (4,790 | ) |  | — |
Other liabilities |  | 176 |  |  | 130 |  |  | 129 |  |  | — |  |  | 435 |
Total liabilities |  | 22,325 |  |  | 6,537 |  |  | 12,535 |  |  | (10,691 | ) |  | 30,706 |
Contingencies |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Redeemable noncontrolling interest |  | — |  |  | — |  |  | 35 |  |  | — |  |  | 35 |
Stockholders’ Equity |  |  |  |  |  |  |  |  |  |
Common stock |  | 935 |  |  | — |  |  | 9 |  |  | (9 | ) |  | 935 |
Additional paid-in capital |  | 5,714 |  |  | 3,310 |  |  | 10,328 |  |  | (13,638 | ) |  | 5,714 |
Earnings reinvested in the business |  | 25,168 |  |  | 282 |  |  | 1,498 |  |  | (1,780 | ) |  | 25,168 |
Accumulated other comprehensive losses |  | (1,378 | ) |  | (231 | ) |  | (981 | ) |  | 1,212 |  |  | (1,378 | )
Cost of repurchased stock |  | (26,320 | ) |  | — |  |  | — |  |  | — |  |  | (26,320 | )
Total stockholders’ equity attributable to Altria Group, Inc. |  | 4,119 |  |  | 3,361 |  |  | 10,854 |  |  | (14,215 | ) |  | 4,119 |
Noncontrolling interests |  | — |  |  | — |  |  | (1 | ) |  | — |  |  | (1 | )
Total stockholders’ equity |  | 4,119 |  |  | 3,361 |  |  | 10,853 |  |  | (14,215 | ) |  | 4,118 |
Total Liabilities and Stockholders’ Equity |  | $ | 26,444 |  |  | $ | 9,898 |  |  | $ | 23,423 |  |  | $ | (24,906 | ) |  | $ | 34,859 |
Condensed Consolidating Statements of Earnings and Comprehensive Earnings For the Three Months Ended March 31, 2014 (in millions of dollars)
|  | Altria Group, Inc. |  | PM USA |  | Non- Guarantor Subsidiaries |  | Total Consolidating Adjustments |  | Consolidated
Net revenues |  | $ | — |  |  | $ | 4,818 |  |  | $ | 703 |  |  | $ | (4 | ) |  | $ | 5,517 |
Cost of sales |  | — |  |  | 1,541 |  |  | 215 |  |  | (4 | ) |  | 1,752 |
Excise taxes on products |  | — |  |  | 1,460 |  |  | 49 |  |  | — |  |  | 1,509 |
Gross profit |  | — |  |  | 1,817 |  |  | 439 |  |  | — |  |  | 2,256 |
Marketing, administration and research costs |  | 39 |  |  | 402 |  |  | 79 |  |  | — |  |  | 520 |
Asset impairment and exit costs |  | — |  |  | 2 |  |  | — |  |  | — |  |  | 2 |
Operating (expense) income |  | (39 | ) |  | 1,413 |  |  | 360 |  |  | — |  |  | 1,734 |
Interest and other debt expense (income), net |  | 156 |  |  | (64 | ) |  | 61 |  |  | — |  |  | 153 |
Earnings from equity investment in SABMiller |  | (225 | ) |  | — |  |  | — |  |  | — |  |  | (225 | )
Earnings before income taxes and equity earnings of subsidiaries |  | 30 |  |  | 1,477 |  |  | 299 |  |  | — |  |  | 1,806 |
(Benefit) provision for income taxes |  | (23 | ) |  | 547 |  |  | 107 |  |  | — |  |  | 631 |
Equity earnings of subsidiaries |  | 1,122 |  |  | 53 |  |  | — |  |  | (1,175 | ) |  | — |
Net earnings |  | 1,175 |  |  | 983 |  |  | 192 |  |  | (1,175 | ) |  | 1,175 |
Net earnings attributable to noncontrolling interests |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net earnings attributable to Altria Group, Inc. |  | $ | 1,175 |  |  | $ | 983 |  |  | $ | 192 |  |  | $ | (1,175 | ) |  | $ | 1,175 |
Net earnings |  | $ | 1,175 |  |  | $ | 983 |  |  | $ | 192 |  |  | $ | (1,175 | ) |  | $ | 1,175 |
Other comprehensive earnings, net of deferred income taxes |  | 60 |  |  | 2 |  |  | 22 |  |  | (24 | ) |  | 60 |
Comprehensive earnings |  | 1,235 |  |  | 985 |  |  | 214 |  |  | (1,199 | ) |  | 1,235 |
Comprehensive earnings attributable to noncontrolling interests |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Comprehensive earnings attributable to Altria Group, Inc. |  | $ | 1,235 |  |  | $ | 985 |  |  | $ | 214 |  |  | $ | (1,199 | ) |  | $ | 1,235 |
Condensed Consolidating Statements of Earnings and Comprehensive Earnings For the Three Months Ended March 31, 2013 (in millions of dollars)
|  | Altria Group, Inc. |  | PM USA |  | Non- Guarantor Subsidiaries |  | Total Consolidating Adjustments |  | Consolidated
Net revenues |  | $ | — |  |  | $ | 4,822 |  |  | $ | 711 |  |  | $ | (5 | ) |  | $ | 5,528 |
Cost of sales |  | — |  |  | 1,099 |  |  | 205 |  |  | (5 | ) |  | 1,299 |
Excise taxes on products |  | — |  |  | 1,495 |  |  | 60 |  |  | — |  |  | 1,555 |
Gross profit |  | — |  |  | 2,228 |  |  | 446 |  |  | — |  |  | 2,674 |
Marketing, administration and research costs |  | 46 |  |  | 419 |  |  | 57 |  |  | — |  |  | 522 |
Operating (expense) income |  | (46 | ) |  | 1,809 |  |  | 389 |  |  | — |  |  | 2,152 |
Interest and other debt expense, net |  | 161 |  |  | — |  |  | 100 |  |  | — |  |  | 261 |
Earnings from equity investment in SABMiller |  | (256 | ) |  | — |  |  | — |  |  | — |  |  | (256 | )
Earnings before income taxes and equity earnings of subsidiaries |  | 49 |  |  | 1,809 |  |  | 289 |  |  | — |  |  | 2,147 |
(Benefit) provision for income taxes |  | (9 | ) |  | 667 |  |  | 104 |  |  | — |  |  | 762 |
Equity earnings of subsidiaries |  | 1,327 |  |  | 44 |  |  | — |  |  | (1,371 | ) |  | — |
Net earnings |  | 1,385 |  |  | 1,186 |  |  | 185 |  |  | (1,371 | ) |  | 1,385 |
Net earnings attributable to noncontrolling interests |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net earnings attributable to Altria Group, Inc. |  | $ | 1,385 |  |  | $ | 1,186 |  |  | $ | 185 |  |  | $ | (1,371 | ) |  | $ | 1,385 |
Net earnings |  | $ | 1,385 |  |  | $ | 1,186 |  |  | $ | 185 |  |  | $ | (1,371 | ) |  | $ | 1,385 |
Other comprehensive (losses) earnings, net of deferred income taxes |  | (28 | ) |  | 8 |  |  | 59 |  |  | (67 | ) |  | (28 | )
Comprehensive earnings |  | 1,357 |  |  | 1,194 |  |  | 244 |  |  | (1,438 | ) |  | 1,357 |
Comprehensive earnings attributable to noncontrolling interests |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Comprehensive earnings attributable to Altria Group, Inc. |  | $ | 1,357 |  |  | $ | 1,194 |  |  | $ | 244 |  |  | $ | (1,438 | ) |  | $ | 1,357 |
Condensed Consolidating Statements of Cash Flows For the Three Months Ended March 31, 2014 (in millions of dollars)
|  | Altria Group, Inc. |  | PM USA |  | Non- Guarantor Subsidiaries |  | Total Consolidating Adjustments |  | Consolidated
Cash Provided by Operating Activities |  |  |  |  |  |  |  |  |  |
Net cash provided by operating activities |  | $ | 1,076 |  |  | $ | 2,360 |  |  | $ | 91 |  |  | $ | (1,402 | ) |  | $ | 2,125 |
Cash Provided by (Used in) Investing Activities |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | — |  |  | (8 | ) |  | (19 | ) |  | — |  |  | (27 | )
Proceeds from finance assets |  | — |  |  | — |  |  | 98 |  |  | — |  |  | 98 |
Other |  | — |  |  | 4 |  |  | 1 |  |  | — |  |  | 5 |
Net cash (used in) provided by investing activities |  | — |  |  | (4 | ) |  | 80 |  |  | — |  |  | 76 |
Cash Provided by (Used in) Financing Activities |  |  |  |  |  |  |  |  |  |
Long-term debt repaid |  | (525 | ) |  | — |  |  | — |  |  | — |  |  | (525 | )
Repurchases of common stock |  | (272 | ) |  | — |  |  | — |  |  | — |  |  | (272 | )
Dividends paid on common stock |  | (957 | ) |  | — |  |  | — |  |  | — |  |  | (957 | )
Changes in amounts due to/from Altria Group, Inc. and subsidiaries |  | 1,143 |  |  | (1,391 | ) |  | 248 |  |  | — |  |  | — |
Cash dividends paid to parent |  | — |  |  | (965 | ) |  | (437 | ) |  | 1,402 |  |  | — |
Other |  | — |  |  | — |  |  | (2 | ) |  | — |  |  | (2 | )
Net cash used in financing activities |  | (611 | ) |  | (2,356 | ) |  | (191 | ) |  | 1,402 |  |  | (1,756 | )
Cash and cash equivalents: |  |  |  |  |  |  |  |  |  |
Increase (decrease) |  | 465 |  |  | — |  |  | (20 | ) |  | — |  |  | 445 |
Balance at beginning of period |  | 3,114 |  |  | 1 |  |  | 60 |  |  | — |  |  | 3,175 |
Balance at end of period |  | $ | 3,579 |  |  | $ | 1 |  |  | $ | 40 |  |  | $ | — |  |  | $ | 3,620 |
Condensed Consolidating Statements of Cash Flows For the Three Months Ended March 31, 2013 (in millions of dollars)
|  | Altria Group, Inc. |  | PM USA |  | Non- Guarantor Subsidiaries |  | Total Consolidating Adjustments |  | Consolidated
Cash Provided by (Used in) Operating Activities |  |  |  |  |  |  |  |  |  |
Net cash provided by (used in) operating activities |  | $ | 899 |  |  | $ | 2,301 |  |  | $ | (222 | ) |  | $ | (1,314 | ) |  | $ | 1,664 |
Cash Provided by (Used in) Investing Activities |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | — |  |  | (4 | ) |  | (11 | ) |  | — |  |  | (15 | )
Proceeds from finance assets |  | — |  |  | — |  |  | 203 |  |  | — |  |  | 203 |
Net cash (used in) provided by investing activities |  | — |  |  | (4 | ) |  | 192 |  |  | — |  |  | 188 |
Cash Provided by (Used in) Financing Activities |  |  |  |  |  |  |  |  |  |
Repurchases of common stock |  | (91 | ) |  | — |  |  | — |  |  | — |  |  | (91 | )
Dividends paid on common stock |  | (886 | ) |  | — |  |  | — |  |  | — |  |  | (886 | )
Changes in amounts due to/from Altria Group, Inc. and subsidiaries |  | 961 |  |  | (1,052 | ) |  | 91 |  |  | — |  |  | — |
Cash dividends paid to parent |  | — |  |  | (1,245 | ) |  | (69 | ) |  | 1,314 |  |  | — |
Net cash (used in) provided by financing activities |  | (16 | ) |  | (2,297 | ) |  | 22 |  |  | 1,314 |  |  | (977 | )
Cash and cash equivalents: |  |  |  |  |  |  |  |  |  |
Increase (decrease) |  | 883 |  |  | — |  |  | (8 | ) |  | — |  |  | 875 |
Balance at beginning of period |  | 2,862 |  |  | — |  |  | 38 |  |  | — |  |  | 2,900 |
Balance at end of period |  | $ | 3,745 |  |  | $ | — |  |  | $ | 30 |  |  | $ | — |  |  | $ | 3,775 |

X
- Definition The entire disclosure for condensed financial statements. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 10 -Paragraph f -Article 3 + Details
Name: | us-gaap_CondensedFinancialStatementsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration