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Investments in Equity Securities (Tables) | 9 Months Ended
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Sep. 30, 2025
Investments [Abstract] |
Investment | The carrying amount of our investments consisted of the following:
(in millions) |  | September 30, 2025 |  | December 31, 2024
ABI |  | $ | 8,071 |  |  | $ | 7,880 |
Cronos |  | 314 |  |  | 315 |
Total |  | $ | 8,385 |  |  | $ | 8,195 |
(Income) losses from our investments in equity securities consisted of the following:
| For the Nine Months Ended September 30, |  | For the Three Months Ended September 30, |
(in millions) | 2025 | 2024 |  | 2025 |  | 2024
ABI (1) | $ | (396) |  |  | $ | (555) |  | (2) | $ | (123) |  |  | $ | (121) |  |
Cronos (1) | (2) |  |  | 25 |  |  | 16 |  |  | 5 |  |
(Income) losses from investments in equity securities | $ | (398) |  |  | $ | (530) |  |  | $ | (107) |  |  | $ | (116) |  |
(1) Includes our share of amounts recorded by our investees and additional adjustments, if required, related to (i) the conversion from international financial reporting standards to GAAP and (ii) adjustments to our investments required under the equity method of accounting. (2) Includes $165 million of the total pre-tax gain on the ABI Transaction discussed below.
Schedule of Sale of Stock by Subsidiary or Equity Method Investee Disclosure | As a result of the ABI Transaction, we recorded the following pre-tax amounts in our condensed consolidated statement of earnings:
(in millions) | For the Nine Months Ended September 30, 2024 |  |
Gain on partial sale of our investment | $ | 165 |  |  |  |  |  |  |
Transaction costs | (62) |  |  |  |  |  |  |
Total pre-tax gain on ABI Transaction | $ | 103 |  |  |  |  |  |  |

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- Definition Tabular disclosure of investment. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/320/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 321 -Publisher FASB -URI https://asc.fasb.org/321/tableOfContent Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 325 -Publisher FASB -URI https://asc.fasb.org/325/tableOfContent + Details
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- Definition Tabular disclosure of sales of stock or previously unissued stock made by subsidiary or equity method investee to investors outside the consolidated group. This includes stock issued in a business combination in exchange for shares of an acquired entity. + References No definition available. + Details
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