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Condensed Consolidating Financial Information (Tables) | 9 Months Ended
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Sep. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Condensed Consolidating Balance Sheet | Condensed Consolidating Balance Sheets September 30, 2014 (in millions of dollars)
|  | Altria Group, Inc. |  | PM USA |  | Non- Guarantor Subsidiaries |  | Total Consolidating Adjustments |  | Consolidated
Assets |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 2,203 |  |  | $ | — |  |  | $ | 38 |  |  | $ | — |  |  | $ | 2,241 |
Receivables |  | 1 |  |  | 3 |  |  | 102 |  |  | — |  |  | 106 |
Inventories: |  |  |  |  |  |  |  |  |  |
Leaf tobacco |  | — |  |  | 509 |  |  | 329 |  |  | — |  |  | 838 |
Other raw materials |  | — |  |  | 124 |  |  | 66 |  |  | — |  |  | 190 |
Work in process |  | — |  |  | 8 |  |  | 339 |  |  | — |  |  | 347 |
Finished product |  | — |  |  | 169 |  |  | 346 |  |  | — |  |  | 515 |
|  | — |  |  | 810 |  |  | 1,080 |  |  | — |  |  | 1,890 |
Due from Altria Group, Inc. and subsidiaries |  | 597 |  |  | 3,224 |  |  | 1,887 |  |  | (5,708 | ) |  | — |
Deferred income taxes |  | — |  |  | 1,132 |  |  | 32 |  |  | (69 | ) |  | 1,095 |
Other current assets |  | 116 |  |  | 197 |  |  | 57 |  |  | (40 | ) |  | 330 |
Total current assets |  | 2,917 |  |  | 5,366 |  |  | 3,196 |  |  | (5,817 | ) |  | 5,662 |
Property, plant and equipment, at cost |  | — |  |  | 3,236 |  |  | 1,615 |  |  | — |  |  | 4,851 |
Less accumulated depreciation |  | — |  |  | 2,183 |  |  | 670 |  |  | — |  |  | 2,853 |
|  | — |  |  | 1,053 |  |  | 945 |  |  | — |  |  | 1,998 |
Goodwill |  | — |  |  | — |  |  | 5,285 |  |  | — |  |  | 5,285 |
Other intangible assets, net |  | — |  |  | 2 |  |  | 12,052 |  |  | — |  |  | 12,054 |
Investment in SABMiller |  | 6,640 |  |  | — |  |  | — |  |  | — |  |  | 6,640 |
Investment in consolidated subsidiaries |  | 11,797 |  |  | 2,990 |  |  | — |  |  | (14,787 | ) |  | — |
Finance assets, net |  | — |  |  | — |  |  | 1,773 |  |  | — |  |  | 1,773 |
Due from Altria Group, Inc. and subsidiaries |  | 4,790 |  |  | — |  |  | — |  |  | (4,790 | ) |  | — |
Other assets |  | 147 |  |  | 456 |  |  | 310 |  |  | (243 | ) |  | 670 |
Total Assets |  | $ | 26,291 |  |  | $ | 9,867 |  |  | $ | 23,561 |  |  | $ | (25,637 | ) |  | $ | 34,082 |
Condensed Consolidating Balance Sheets (Continued) September 30, 2014 (in millions of dollars)
|  | Altria Group, Inc. |  | PM USA |  | Non- Guarantor Subsidiaries |  | Total Consolidating Adjustments |  | Consolidated
Liabilities |  |  |  |  |  |  |  |  |  |
Current portion of long-term debt |  | $ | 1,000 |  |  | $ | — |  |  | $ | 300 |  |  | $ | — |  |  | $ | 1,300 |
Accounts payable |  | 25 |  |  | 112 |  |  | 195 |  |  | — |  |  | 332 |
Accrued liabilities: |  |  |  |  |  |  |  |  |  |
Marketing |  | — |  |  | 488 |  |  | 79 |  |  | — |  |  | 567 |
Employment costs |  | 15 |  |  | 9 |  |  | 117 |  |  | — |  |  | 141 |
Settlement charges |  | — |  |  | 3,132 |  |  | 7 |  |  | — |  |  | 3,139 |
Other |  | 300 |  |  | 436 |  |  | 230 |  |  | (109 | ) |  | 857 |
Dividends payable |  | 1,031 |  |  | — |  |  | — |  |  | — |  |  | 1,031 |
Due to Altria Group, Inc. and subsidiaries |  | 4,609 |  |  | 500 |  |  | 599 |  |  | (5,708 | ) |  | — |
Total current liabilities |  | 6,980 |  |  | 4,677 |  |  | 1,527 |  |  | (5,817 | ) |  | 7,367 |
Long-term debt |  | 12,693 |  |  | — |  |  | — |  |  | — |  |  | 12,693 |
Deferred income taxes |  | 1,952 |  |  | — |  |  | 5,120 |  |  | (243 | ) |  | 6,829 |
Accrued pension costs |  | 197 |  |  | — |  |  | 18 |  |  | — |  |  | 215 |
Accrued postretirement health care costs |  | — |  |  | 1,410 |  |  | 740 |  |  | — |  |  | 2,150 |
Due to Altria Group, Inc. and subsidiaries |  | — |  |  | — |  |  | 4,790 |  |  | (4,790 | ) |  | — |
Other liabilities |  | 175 |  |  | 171 |  |  | 156 |  |  | — |  |  | 502 |
Total liabilities |  | 21,997 |  |  | 6,258 |  |  | 12,351 |  |  | (10,850 | ) |  | 29,756 |
Contingencies |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Redeemable noncontrolling interest |  | — |  |  | — |  |  | 35 |  |  | — |  |  | 35 |
Stockholders’ Equity |  |  |  |  |  |  |  |  |  |
Common stock |  | 935 |  |  | — |  |  | 9 |  |  | (9 | ) |  | 935 |
Additional paid-in capital |  | 5,723 |  |  | 3,310 |  |  | 10,568 |  |  | (13,878 | ) |  | 5,723 |
Earnings reinvested in the business |  | 26,066 |  |  | 525 |  |  | 1,522 |  |  | (2,047 | ) |  | 26,066 |
Accumulated other comprehensive losses |  | (1,454 | ) |  | (226 | ) |  | (921 | ) |  | 1,147 |  |  | (1,454 | )
Cost of repurchased stock |  | (26,976 | ) |  | — |  |  | — |  |  | — |  |  | (26,976 | )
Total stockholders’ equity attributable to Altria Group, Inc. |  | 4,294 |  |  | 3,609 |  |  | 11,178 |  |  | (14,787 | ) |  | 4,294 |
Noncontrolling interests |  | — |  |  | — |  |  | (3 | ) |  | — |  |  | (3 | )
Total stockholders’ equity |  | 4,294 |  |  | 3,609 |  |  | 11,175 |  |  | (14,787 | ) |  | 4,291 |
Total Liabilities and Stockholders’ Equity |  | $ | 26,291 |  |  | $ | 9,867 |  |  | $ | 23,561 |  |  | $ | (25,637 | ) |  | $ | 34,082 |
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 | Condensed Consolidating Statements of Earnings and Comprehensive Earnings For the Nine Months Ended September 30, 2014 (in millions of dollars)
|  | Altria Group, Inc. |  | PM USA |  | Non- Guarantor Subsidiaries |  | Total Consolidating Adjustments |  | Consolidated
Net revenues |  | $ | — |  |  | $ | 15,945 |  |  | $ | 2,352 |  |  | $ | (33 | ) |  | $ | 18,264 |
Cost of sales |  | — |  |  | 5,059 |  |  | 773 |  |  | (33 | ) |  | 5,799 |
Excise taxes on products |  | — |  |  | 4,771 |  |  | 161 |  |  | — |  |  | 4,932 |
Gross profit |  | — |  |  | 6,115 |  |  | 1,418 |  |  | — |  |  | 7,533 |
Marketing, administration and research costs |  | 161 |  |  | 1,362 |  |  | 298 |  |  | — |  |  | 1,821 |
Changes to Mondelēz and PMI tax-related receivables/payables |  | 5 |  |  | — |  |  | — |  |  | — |  |  | 5 |
Asset impairment and exit costs |  | — |  |  | (6 | ) |  | 5 |  |  | — |  |  | (1 | )
Operating (expense) income |  | (166 | ) |  | 4,759 |  |  | 1,115 |  |  | — |  |  | 5,708 |
Interest and other debt expense (income), net |  | 458 |  |  | (46 | ) |  | 184 |  |  | — |  |  | 596 |
Earnings from equity investment in SABMiller |  | (753 | ) |  | — |  |  | — |  |  | — |  |  | (753 | )
Earnings before income taxes and equity earnings of subsidiaries |  | 129 |  |  | 4,805 |  |  | 931 |  |  | — |  |  | 5,865 |
(Benefit) provision for income taxes |  | (118 | ) |  | 1,813 |  |  | 336 |  |  | — |  |  | 2,031 |
Equity earnings of subsidiaries |  | 3,587 |  |  | 184 |  |  | — |  |  | (3,771 | ) |  | — |
Net earnings |  | 3,834 |  |  | 3,176 |  |  | 595 |  |  | (3,771 | ) |  | 3,834 |
Net earnings attributable to noncontrolling interests |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net earnings attributable to Altria Group, Inc. |  | $ | 3,834 |  |  | $ | 3,176 |  |  | $ | 595 |  |  | $ | (3,771 | ) |  | $ | 3,834 |
Net earnings |  | $ | 3,834 |  |  | $ | 3,176 |  |  | $ | 595 |  |  | $ | (3,771 | ) |  | $ | 3,834 |
Other comprehensive (losses) earnings, net of deferred income taxes |  | (76 | ) |  | 5 |  |  | 60 |  |  | (65 | ) |  | (76 | )
Comprehensive earnings |  | 3,758 |  |  | 3,181 |  |  | 655 |  |  | (3,836 | ) |  | 3,758 |
Comprehensive earnings attributable to noncontrolling interests |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Comprehensive earnings attributable to Altria Group, Inc. |  | $ | 3,758 |  |  | $ | 3,181 |  |  | $ | 655 |  |  | $ | (3,836 | ) |  | $ | 3,758 |
Condensed Consolidating Statements of Earnings and Comprehensive Earnings For the Nine Months Ended September 30, 2013 (in millions of dollars)
|  | Altria Group, Inc. |  | PM USA |  | Non- Guarantor Subsidiaries |  | Total Consolidating Adjustments |  | Consolidated
Net revenues |  | $ | — |  |  | $ | 15,967 |  |  | $ | 2,436 |  |  | $ | (17 | ) |  | $ | 18,386 |
Cost of sales |  | — |  |  | 4,550 |  |  | 677 |  |  | (17 | ) |  | 5,210 |
Excise taxes on products |  | — |  |  | 4,936 |  |  | 191 |  |  | — |  |  | 5,127 |
Gross profit |  | — |  |  | 6,481 |  |  | 1,568 |  |  | — |  |  | 8,049 |
Marketing, administration and research costs |  | 155 |  |  | 1,384 |  |  | 199 |  |  | — |  |  | 1,738 |
Changes to Mondelēz and PMI tax-related receivables/payables |  | 25 |  |  | — |  |  | — |  |  | — |  |  | 25 |
Asset impairment and exit costs |  | — |  |  | 1 |  |  | — |  |  | — |  |  | 1 |
Operating (expense) income |  | (180 | ) |  | 5,096 |  |  | 1,369 |  |  | — |  |  | 6,285 |
Interest and other debt expense, net |  | 490 |  |  | 2 |  |  | 302 |  |  | — |  |  | 794 |
Earnings from equity investment in SABMiller |  | (738 | ) |  | — |  |  | — |  |  | — |  |  | (738 | )
Earnings before income taxes and equity earnings of subsidiaries |  | 68 |  |  | 5,094 |  |  | 1,067 |  |  | — |  |  | 6,229 |
(Benefit) provision for income taxes |  | (89 | ) |  | 1,890 |  |  | 381 |  |  | — |  |  | 2,182 |
Equity earnings of subsidiaries |  | 3,890 |  |  | 163 |  |  | — |  |  | (4,053 | ) |  | — |
Net earnings |  | 4,047 |  |  | 3,367 |  |  | 686 |  |  | (4,053 | ) |  | 4,047 |
Net earnings attributable to noncontrolling interests |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net earnings attributable to Altria Group, Inc. |  | $ | 4,047 |  |  | $ | 3,367 |  |  | $ | 686 |  |  | $ | (4,053 | ) |  | $ | 4,047 |
Net earnings |  | $ | 4,047 |  |  | $ | 3,367 |  |  | $ | 686 |  |  | $ | (4,053 | ) |  | $ | 4,047 |
Other comprehensive (losses) earnings, net of deferred income taxes |  | (183 | ) |  | 16 |  |  | 139 |  |  | (155 | ) |  | (183 | )
Comprehensive earnings |  | 3,864 |  |  | 3,383 |  |  | 825 |  |  | (4,208 | ) |  | 3,864 |
Comprehensive earnings attributable to noncontrolling interests |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Comprehensive earnings attributable to Altria Group, Inc. |  | $ | 3,864 |  |  | $ | 3,383 |  |  | $ | 825 |  |  | $ | (4,208 | ) |  | $ | 3,864 |
Condensed Consolidating Statements of Earnings and Comprehensive Earnings For the Three Months Ended September 30, 2014 (in millions of dollars)
|  | Altria Group, Inc. |  | PM USA |  | Non- Guarantor Subsidiaries |  | Total Consolidating Adjustments |  | Consolidated
Net revenues |  | $ | — |  |  | $ | 5,684 |  |  | $ | 818 |  |  | $ | (11 | ) |  | $ | 6,491 |
Cost of sales |  | — |  |  | 1,812 |  |  | 278 |  |  | (11 | ) |  | 2,079 |
Excise taxes on products |  | — |  |  | 1,682 |  |  | 56 |  |  | — |  |  | 1,738 |
Gross profit |  | — |  |  | 2,190 |  |  | 484 |  |  | — |  |  | 2,674 |
Marketing, administration and research costs |  | 57 |  |  | 495 |  |  | 111 |  |  | — |  |  | 663 |
Changes to Mondelēz and PMI tax-related receivables/payables |  | 5 |  |  | — |  |  | — |  |  | — |  |  | 5 |
Asset impairment and exit costs |  | — |  |  | 2 |  |  | 5 |  |  | — |  |  | 7 |
Operating (expense) income |  | (62 | ) |  | 1,693 |  |  | 368 |  |  | — |  |  | 1,999 |
Interest and other debt expense, net |  | 150 |  |  | 1 |  |  | 62 |  |  | — |  |  | 213 |
Earnings from equity investment in SABMiller |  | (328 | ) |  | — |  |  | — |  |  | — |  |  | (328 | )
Earnings before income taxes and equity earnings of subsidiaries |  | 116 |  |  | 1,692 |  |  | 306 |  |  | — |  |  | 2,114 |
(Benefit) provision for income taxes |  | (53 | ) |  | 659 |  |  | 111 |  |  | — |  |  | 717 |
Equity earnings of subsidiaries |  | 1,228 |  |  | 67 |  |  | — |  |  | (1,295 | ) |  | — |
Net earnings |  | 1,397 |  |  | 1,100 |  |  | 195 |  |  | (1,295 | ) |  | 1,397 |
Net earnings attributable to noncontrolling interests |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net earnings attributable to Altria Group, Inc. |  | $ | 1,397 |  |  | $ | 1,100 |  |  | $ | 195 |  |  | $ | (1,295 | ) |  | $ | 1,397 |
Net earnings |  | $ | 1,397 |  |  | $ | 1,100 |  |  | $ | 195 |  |  | $ | (1,295 | ) |  | $ | 1,397 |
Other comprehensive (losses) earnings, net of deferred income taxes |  | (225 | ) |  | — |  |  | 18 |  |  | (18 | ) |  | (225 | )
Comprehensive earnings |  | 1,172 |  |  | 1,100 |  |  | 213 |  |  | (1,313 | ) |  | 1,172 |
Comprehensive earnings attributable to noncontrolling interests |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Comprehensive earnings attributable to Altria Group, Inc. |  | $ | 1,172 |  |  | $ | 1,100 |  |  | $ | 213 |  |  | $ | (1,313 | ) |  | $ | 1,172 |
Condensed Consolidating Statements of Earnings and Comprehensive Earnings For the Three Months Ended September 30, 2013 (in millions of dollars)
|  | Altria Group, Inc. |  | PM USA |  | Non- Guarantor Subsidiaries |  | Total Consolidating Adjustments |  | Consolidated
Net revenues |  | $ | — |  |  | $ | 5,627 |  |  | $ | 932 |  |  | $ | (6 | ) |  | $ | 6,553 |
Cost of sales |  | — |  |  | 1,698 |  |  | 247 |  |  | (6 | ) |  | 1,939 |
Excise taxes on products |  | — |  |  | 1,728 |  |  | 65 |  |  | — |  |  | 1,793 |
Gross profit |  | — |  |  | 2,201 |  |  | 620 |  |  | — |  |  | 2,821 |
Marketing, administration and research costs |  | 60 |  |  | 517 |  |  | 87 |  |  | — |  |  | 664 |
Changes to Mondelēz and PMI tax-related receivables/payables |  | 25 |  |  | — |  |  | — |  |  | — |  |  | 25 |
Asset impairment and exit costs |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Operating (expense) income |  | (85 | ) |  | 1,684 |  |  | 533 |  |  | — |  |  | 2,132 |
Interest and other debt expense, net |  | 166 |  |  | 3 |  |  | 100 |  |  | — |  |  | 269 |
Earnings from equity investment in SABMiller |  | (255 | ) |  | — |  |  | — |  |  | — |  |  | (255 | )
Earnings before income taxes and equity earnings of subsidiaries |  | 4 |  |  | 1,681 |  |  | 433 |  |  | — |  |  | 2,118 |
(Benefit) provision for income taxes |  | (63 | ) |  | 628 |  |  | 157 |  |  | — |  |  | 722 |
Equity earnings of subsidiaries |  | 1,329 |  |  | 61 |  |  | — |  |  | (1,390 | ) |  | — |
Net earnings |  | 1,396 |  |  | 1,114 |  |  | 276 |  |  | (1,390 | ) |  | 1,396 |
Net earnings attributable to noncontrolling interests |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net earnings attributable to Altria Group, Inc. |  | $ | 1,396 |  |  | $ | 1,114 |  |  | $ | 276 |  |  | $ | (1,390 | ) |  | $ | 1,396 |
Net earnings |  | $ | 1,396 |  |  | $ | 1,114 |  |  | $ | 276 |  |  | $ | (1,390 | ) |  | $ | 1,396 |
Other comprehensive earnings, net of deferred income taxes |  | 107 |  |  | 4 |  |  | 41 |  |  | (45 | ) |  | 107 |
Comprehensive earnings |  | 1,503 |  |  | 1,118 |  |  | 317 |  |  | (1,435 | ) |  | 1,503 |
Comprehensive earnings attributable to noncontrolling interests |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Comprehensive earnings attributable to Altria Group, Inc. |  | $ | 1,503 |  |  | $ | 1,118 |  |  | $ | 317 |  |  | $ | (1,435 | ) |  | $ | 1,503 |
Condensed Consolidating Statements of Cash Flows | Condensed Consolidating Statements of Cash Flows For the Nine Months Ended September 30, 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 |  | $ | 3,270 |  |  | $ | 2,839 |  |  | $ | 455 |  |  | $ | (3,504 | ) |  | $ | 3,060 |
Cash Provided by (Used in) Investing Activities |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | — |  |  | (33 | ) |  | (83 | ) |  | — |  |  | (116 | )
Acquisition of Green Smoke, net of acquired cash |  | — |  |  | — |  |  | (93 | ) |  | — |  |  | (93 | )
Proceeds from finance assets |  | — |  |  | — |  |  | 190 |  |  | — |  |  | 190 |
Other |  | — |  |  | 70 |  |  | 9 |  |  | — |  |  | 79 |
Net cash provided by investing activities |  | — |  |  | 37 |  |  | 23 |  |  | — |  |  | 60 |
Cash Provided by (Used in) Financing Activities |  |  |  |  |  |  |  |  |  |
Long-term debt repaid |  | (525 | ) |  | — |  |  | — |  |  | — |  |  | (525 | )
Repurchases of common stock |  | (679 | ) |  | — |  |  | — |  |  | — |  |  | (679 | )
Dividends paid on common stock |  | (2,864 | ) |  | — |  |  | — |  |  | — |  |  | (2,864 | )
Changes in amounts due to/from Altria Group, Inc. and subsidiaries |  | (130 | ) |  | 56 |  |  | 74 |  |  | — |  |  | — |
Financing fees and debt issuance costs |  | (1 | ) |  | — |  |  | — |  |  | — |  |  | (1 | )
Cash dividends paid to parent |  | — |  |  | (2,933 | ) |  | (571 | ) |  | 3,504 |  |  | — |
Other |  | 18 |  |  | — |  |  | (3 | ) |  | — |  |  | 15 |
Net cash used in financing activities |  | (4,181 | ) |  | (2,877 | ) |  | (500 | ) |  | 3,504 |  |  | (4,054 | )
Cash and cash equivalents: |  |  |  |  |  |  |  |  |  |
Decrease |  | (911 | ) |  | (1 | ) |  | (22 | ) |  | — |  |  | (934 | )
Balance at beginning of period |  | 3,114 |  |  | 1 |  |  | 60 |  |  | — |  |  | 3,175 |
Balance at end of period |  | $ | 2,203 |  |  | $ | — |  |  | $ | 38 |  |  | $ | — |  |  | $ | 2,241 |
Condensed Consolidating Statements of Cash Flows For the Nine Months Ended September 30, 2013 (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 |  | $ | 3,349 |  |  | $ | 2,948 |  |  | $ | 270 |  |  | $ | (3,708 | ) |  | $ | 2,859 |
Cash Provided by (Used in) Investing Activities |  |  |  |  |  |  |  |  |  |
Capital expenditures |  | — |  |  | (18 | ) |  | (72 | ) |  | — |  |  | (90 | )
Proceeds from finance assets |  | — |  |  | — |  |  | 559 |  |  | — |  |  | 559 |
Other |  | — |  |  | — |  |  | 16 |  |  | — |  |  | 16 |
Net cash (used in) provided by investing activities |  | — |  |  | (18 | ) |  | 503 |  |  | — |  |  | 485 |
Cash Provided by (Used in) Financing Activities |  |  |  |  |  |  |  |  |  |
Long-term debt issued |  | 996 |  |  | — |  |  | — |  |  | — |  |  | 996 |
Repurchases of common stock |  | (382 | ) |  | — |  |  | — |  |  | — |  |  | (382 | )
Dividends paid on common stock |  | (2,652 | ) |  | — |  |  | — |  |  | — |  |  | (2,652 | )
Changes in amounts due to/from Altria Group, Inc. and subsidiaries |  | (11 | ) |  | 517 |  |  | (506 | ) |  | — |  |  | — |
Financing fees and debt issuance costs |  | (12 | ) |  | — |  |  | — |  |  | — |  |  | (12 | )
Cash dividends paid to parent |  | — |  |  | (3,447 | ) |  | (261 | ) |  | 3,708 |  |  | — |
Other |  | 19 |  |  | — |  |  | (2 | ) |  | — |  |  | 17 |
Net cash used in financing activities |  | (2,042 | ) |  | (2,930 | ) |  | (769 | ) |  | 3,708 |  |  | (2,033 | )
Cash and cash equivalents: |  |  |  |  |  |  |  |  |  |
Increase |  | 1,307 |  |  | — |  |  | 4 |  |  | — |  |  | 1,311 |
Balance at beginning of period |  | 2,862 |  |  | — |  |  | 38 |  |  | — |  |  | 2,900 |
Balance at end of period |  | $ | 4,169 |  |  | $ | — |  |  | $ | 42 |  |  | $ | — |  |  | $ | 4,211 |

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