XML 25 R6.htm IDEA: XBRL DOCUMENT v3.20.4
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Dec. 31, 2020
Mar. 31, 2020
Dec. 31, 2019
Mar. 31, 2019
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Cash Provided by (Used in) Operating Activities                      
Net earnings (losses) $ 1,922 $ 1,550 $ (1,814) $ 1,121 $ 4,454 $ (1,298) $ 6,967        
Adjustments to reconcile net earnings (losses) to operating cash flows:                      
Depreciation and amortization         257 226 227        
Deferred income tax benefit         (164) (95) (57) $ (57)      
(Income) losses from equity investments         111 (1,725) (890)        
Loss on ABI/SABMiller business combination         0 0 33        
Dividends from ABI         108 396 657        
Loss on Cronos-related financial instruments         140 1,442 0        
Impairment of JUUL equity securities 0 0 4,100 0 2,600 8,600 0        
Asset impairment and exit costs, net of cash paid         (51) 41 354        
Cash effects of changes:                      
Receivables         20 (8) 0        
Inventories         2 42 (129)        
Accounts payable         53 (79) 27        
Income taxes         (29) 89 218        
Accrued liabilities and other current assets         (15) 11 (21)        
Accrued settlement charges         218 (108) 980        
Pension plan contributions         (33) (56) (41)        
Pension provisions and postretirement, net         (49) (52) (13)        
Other, net [1]         763 411 79        
Net cash provided by (used in) operating activities         8,385 7,837 8,391        
Cash Provided by (Used in) Investing Activities                      
Capital expenditures         (231) (246) (238)        
Acquisitions of businesses and assets         0 (421) (15)        
Investment in JUUL         0 (5) (12,800)        
Investment in Cronos         0 (1,899) 0        
Other, net         88 173 65        
Net cash (used in) provided by investing activities         (143) (2,398) (12,988)        
Cash Provided by (Used in) Financing Activities                      
Proceeds from short-term borrowings         3,000 0 12,800        
Repayment of short-term borrowings         (3,000) (12,800) 0        
Long-term debt issued         1,993 16,265 0        
Long-term debt repaid         (1,000) (1,144) (864)        
Repurchases of common stock         0 (845) (1,673)        
Dividends paid on common stock         (6,290) (6,069) (5,415)        
Other, net         (99) (119) (132)        
Net cash used in financing activities         (5,396) (4,712) 4,716        
Cash, cash equivalents and restricted cash:                      
Increase (decrease)         2,846 727 119        
Balance at beginning of year   2,160   1,433 2,160 1,433 1,314        
Balance at end of year 5,006   2,160   5,006 2,160 1,433 1,314      
Cash paid: Interest         1,246 991 704        
Cash Paid: Income taxes         2,616 1,977 2,307        
Cash and cash equivalents                 $ 4,945 $ 2,117 $ 1,333
Restricted cash included in other current assets [2]                 1 0 57
Restricted cash included in other assets [2]                 60 43 43
Cash, cash equivalents and restricted cash $ 5,006 $ 2,160 $ 2,160 $ 1,433 $ 5,006 $ 1,433 $ 1,314 $ 1,314 $ 5,006 $ 2,160 $ 1,433
[1] 2020 reflects inventory-related amounts associated with the Wine Business Strategic Reset. For further discussion, see Note 5. Asset Impairment, Exit and Implementation Costs.
[2] Restricted cash consisted of cash deposits collateralizing appeal bonds posted by PM USA to obtain stays of judgments pending appeals. See Note 18. Contingencies.