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Investment in SABMiller
 12 Months Ended
Dec. 31, 2014
Equity Method Investments and Joint Ventures [Abstract]  
Investment in SABMiller
Investment in SABMiller
At December 31, 2014, Altria Group, Inc. held approximately 27% of the economic and voting interest of SABMiller. Altria Group, Inc. accounts for its investment in SABMiller under the equity method of accounting.
Pre-tax earnings from Altria Group, Inc.’s equity investment in SABMiller were $1,006 million, $991 million and $1,224 million for the years ended December 31, 2014, 2013 and 2012, respectively. Altria Group, Inc.’s pre-tax earnings from its equity investment in SABMiller for the year ended December 31, 2012 included its share of pre-tax non-cash gains of $342 million resulting from SABMiller’s strategic alliance transactions with Anadolu Efes and Castel.
Summary financial data of SABMiller is as follows:
 
At December 31,
(in millions)
2014

 
2013

Current assets
$
5,878

 
$
5,833

Long-term assets
$
43,812

 
$
48,460

Current liabilities
$
10,051

 
$
8,177

Long-term liabilities
$
14,731

 
$
20,315

Noncontrolling interests
$
1,241

 
$
1,202


 
For the Years Ended December 31,
(in millions)
2014

 
2013

 
2012

Net revenues
$
22,380

 
$
22,684

 
$
23,449

Operating profit
$
4,478

 
$
4,201

 
$
5,243

Net earnings
$
3,532

 
$
3,375

 
$
4,362

The fair value of Altria Group, Inc.’s equity investment in SABMiller is based on unadjusted quoted prices in active markets and is classified in Level 1 of the fair value hierarchy. The fair value of Altria Group, Inc.’s equity investment in SABMiller at December 31, 2014 and 2013, was $22.5 billion and $22.1 billion, respectively, as compared with its carrying value of $6.2 billion and $6.5 billion, respectively.
At December 31, 2014, Altria Group, Inc.’s earnings reinvested in the business on its consolidated balance sheet included approximately $3.0 billion of undistributed earnings from its equity investment in SABMiller.