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Long-Term Debt | 12 Months Ended
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Dec. 31, 2017
Debt Disclosure [Abstract] |
Long-Term Debt | Long-Term Debt At December 31, 2017 and 2016, Altria Group, Inc.’s long-term debt consisted of the following:
(in millions) | 2017 |  |  | 2016 |
Notes, 2.625% to 10.20%, interest payable semi-annually, due through 2046 (1) | $ | 13,852 |  |  | $ | 13,839 |
Debenture, 7.75%, interest payable semi-annually, due 2027 | 42 |  |  | 42 |
| 13,894 |  |  | 13,881 |
Less current portion of long-term debt | 864 |  |  | — |
| $ | 13,030 |  |  | $ | 13,881 |
(1) Weighted-average coupon interest rate of 4.9% at December 31, 2017 and 2016. At December 31, 2017, aggregate maturities of Altria Group, Inc.’s long-term debt were as follows:
(in millions) |  |
2018 | $ | 864 |  |
2019 | 1,144 |  |
2020 | 1,000 |  |
2021 | 1,500 |  |
2022 | 1,900 |  |
Thereafter | 7,609 |  |
| 14,017 |  |
Less: debt issuance costs | 68 |  |
debt discounts | 55 |  |
| $ | 13,894 |  |
Altria Group, Inc.’s estimate of the fair value of its debt is based on observable market information derived from a third party pricing source and is classified in Level 2 of the fair value hierarchy. The aggregate fair value of Altria Group, Inc.’s total long-term debt at December 31, 2017 and 2016, was $15.3 billion and $15.1 billion, respectively, as compared with its carrying value of $13.9 billion for each period. ▪Altria Group, Inc. Senior Notes: The notes of Altria Group, Inc. are senior unsecured obligations and rank equally in right of payment with all of Altria Group, Inc.’s existing and future senior unsecured indebtedness. Upon the occurrence of both (i) a change of control of Altria Group, Inc. and (ii) the notes ceasing to be rated investment grade by each of Moody’s, Standard & Poor’s and Fitch Ratings Ltd. within a specified time period, Altria Group, Inc. will be required to make an offer to purchase the notes at a price equal to 101% of the aggregate principal amount of such notes, plus accrued and unpaid interest to the date of repurchase as and to the extent set forth in the terms of the notes. The obligations of Altria Group, Inc. under the notes are guaranteed by PM USA as further discussed in Note 19. Condensed Consolidating Financial Information. ▪Debt Tender Offers: During 2016 and 2015, Altria Group, Inc. completed debt tender offers to purchase for cash certain of its senior unsecured notes in aggregate principal amounts of $0.9 billion and $0.8 billion, respectively. Details of these debt tender offers and the associated pre-tax losses on early extinguishment of debt recorded by Altria Group, Inc. were as follows:
(in millions) | 2016 |  |  | 2015 |
Notes Purchased |  |  |
9.95% Notes due 2038 | $ | 441 |  |  | $ | — |
10.20% Notes due 2039 | 492 |  |  | — |
9.70% Notes due 2018 | — |  |  | 793 |
Total | $ | 933 |  |  | $ | 793 |
Pre-tax Loss on Early Extinguishment of Debt
Premiums and fees | $ | 809 |  |  | $ | 226 |
Write-off of unamortized debt discounts and debt issuance costs | 14 |  |  | 2 |
Total | $ | 823 |  |  | $ | 228 |

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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