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Finance Assets, net (Tables) | 12 Months Ended
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Dec. 31, 2014
Receivables [Abstract] |
Schedule of PMCC Leveraged Lease Charge | During the second quarter of 2012, Altria Group, Inc. entered into a closing agreement (the “Closing Agreement”) with the Internal Revenue Service (the “IRS”) that conclusively resolved the federal income tax treatment for all prior and future tax years of certain leveraged lease transactions entered into by PMCC. As a result of the Closing Agreement, Altria Group, Inc. recorded a one-time net earnings benefit of $68 million during the second quarter of 2012, due primarily to lower than estimated interest on tax underpayments, which was recorded as follows:
|  | For the Year Ended December 31, 2012
(in millions) |  | Net Revenues |  |  | Benefit for Income Taxes |  |  | Total |
Reduction to cumulative lease earnings |  | $ | 7 |  |  | $ | (2 | ) |  | $ | 5 |
Interest on tax underpayments |  | — |  |  | (73 | ) |  | (73 | )
Total |  | $ | 7 |  |  | $ | (75 | ) |  | $ | (68 | )
Summary of Net Investments in Finance Leases | A summary of the net investments in finance leases, substantially all of which are leveraged leases, at December 31, 2014 and 2013, before allowance for losses is as follows:
(in millions) |  | 2014 |  |  | 2013 |
Rents receivable, net |  | $ | 1,241 |  |  | $ | 1,495 |
Unguaranteed residual values |  | 827 |  |  | 1,127 |
Unearned income |  | (412 | ) |  | (573 | )
Investments in finance leases |  | 1,656 |  |  | 2,049 |
Deferred income taxes |  | (1,135 | ) |  | (1,440 | )
Net investments in finance leases |  | $ | 521 |  |  | $ | 609 |
Schedule of Rents Receivable | Rents receivable in excess of debt service requirements on third-party nonrecourse debt at December 31, 2014 were as follows:
(in millions) |
2015 | $ | 229 |
2016 | 48 |
2017 | 68 |
2018 | 154 |
2019 | 181 |
Thereafter | 561 |
Total | $ | 1,241 |
Schedule of Allowance for Losses on Finance Assets | The activity in the allowance for losses on finance assets for the years ended December 31, 2014, 2013 and 2012 was as follows:
(in millions) | 2014 |  |  | 2013 |  |  | 2012 |
Balance at beginning of year | $ | 52 |  |  | $ | 99 |  |  | $ | 227 |
Decrease to allowance | (10 | ) |  | (47 | ) |  | (10 | )
Amounts written-off | — |  |  | — |  |  | (118 | )
Balance at end of year | $ | 42 |  |  | $ | 52 |  |  | $ | 99 |
Schedule of Credit Quality of Investments in Finance Leases | The credit quality of PMCC’s investments in finance leases as assigned by Standard & Poor’s Ratings Services (“Standard & Poor’s”) and Moody’s Investors Service, Inc. (“Moody’s”) at December 31, 2014 and 2013 was as follows:
(in millions) | 2014 |  |  | 2013 |
Credit Rating by Standard & Poor’s/Moody’s: |  |  |
“AAA/Aaa” to “A-/A3” | $ | 417 |  |  | $ | 464 |
“BBB+/Baa1” to “BBB-/Baa3” | 833 |  |  | 927 |
“BB+/Ba1” and Lower | 406 |  |  | 658 |
Total | $ | 1,656 |  |  | $ | 2,049 |

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- Definition Tabular disclosure of financing receivables (examples of financing receivables include loans, trade accounts receivable and notes receivable) and activity in the allowance for credit losses account. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 11B -URI http://asc.fasb.org/extlink&oid=35738203&loc=SL6953423-111524 + Details
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- Definition Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=35738203&loc=SL6953659-111524 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 55 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=32702940&loc=SL6953803-111525 + Details
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- Definition Tabular disclosure of the components of the investment in leveraged leases. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 30 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=25496975&loc=d3e45424-112738 + Details
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