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Acquisition of NJOY (Tables) | 12 Months Ended
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Dec. 31, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Summary of Costs Incurred | Costs incurred for the NJOY Transaction are recognized in the period in which they are incurred and are included in our consolidated statement of earnings as follows:
| For the Years Ended December 31, |  |  |
(in millions) | 2024 |  | 2023 |  |  |  |
Marketing, administration and research costs: |  |  |  |  |  |  |  |
Change in fair value of contingent payments | $ | 140 |  |  | $ | — |  |  |  |  |  |
Other costs, net (1) | 36 |  |  | 63 |  |  |  |  |  |
Interest and other debt expense, net: |  |  |  |  |  |  |  |
Financing fees | — |  |  | 9 |  |  |  |  |  |
Total NJOY Transaction costs, net | $ | 176 |  |  | $ | 72 |  |  |  |  |  |
(1) For the year ended December 31, 2024, these amounts consisted primarily of acquisition-related items associated with patent infringement lawsuits related to the NJOY Transaction. For the year ended December 31, 2023, these amounts consisted primarily of acquisition-related transaction costs. For further discussion of the patent infringement lawsuits, see Note 20. Contingencies.
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The amounts in the table below represent the final purchase price allocation to the assets acquired and liabilities assumed in the NJOY Transaction, including measurement period adjustments recorded during 2024.
(in millions) | Preliminary Purchase Price Allocation | Measurement Period Adjustments | Final Purchase Price Allocation
Cash and cash equivalents | $ | 22 |  | $ | — |  | $ | 22 |
Receivables | 7 |  | — |  | 7 |
Inventories | 19 |  | — |  | 19 |
Other assets | 7 |  | — |  | 7 |
Property, plant and equipment | 16 |  | — |  | 16 |
Other intangible assets: |  |  |
Developed technology (amortizable) | 1,000 |  | — |  | 1,000 |
Trademarks (amortizable) | 230 |  | (40) |  | 190 |
Supplier agreements (amortizable) | 180 |  | (180) |  | — |
Accounts payable | (7) |  | — |  | (7) |
Accrued liabilities | (20) |  | — |  | (20) |
Deferred income taxes | (167) |  | 66 |  | (101) |
Total identifiable net assets | 1,287 |  | (154) |  | 1,133 |
Total consideration | 2,901 |  | — |  | 2,901 |
Goodwill | $ | 1,614 |  | $ | 154 |  | $ | 1,768 |

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
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