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Financial Instruments (Tables) | 9 Months Ended
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Sep. 30, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Debt | The aggregate carrying value and fair value of our total long-term debt were as follows:
(in millions) | September 30, 2025 |  | December 31, 2024
Carrying value | $ | 25,701 |  |  | $ | 24,926 |
Fair value | 24,470 |  |  | 22,741 |
Foreign currency denominated debt included in long-term debt: |  |  |
Carrying value | 2,635 |  |  | 3,100 |
Fair value | 2,620 |  |  | 3,059 |
Schedule of Contingent Payments | The changes in the liability associated with contingent payments were as follows:
| For the Nine Months Ended September 30, 2025 |  | For the Year Ended December 31, 2024
(in millions) |
Balance at January 1 | $ | 20 |  |  |  | $ | 130 |  |
Change in the fair value of contingent payments (1) | 25 |  | (2) |  | 140 |  | (3)
Payments | — |  |  |  | (250) |  | (4)
Balance at end of period | $ | 45 |  |  |  | $ | 20 |  |
(1) Pre-tax charges were recorded in marketing, administration and research costs in our condensed consolidated statements of earnings. (2) Recorded in the first quarter of 2025 and relates to blueberry and watermelon pod products. (3) Recorded in the second quarter of 2024 and relates to menthol pod products. (4) Payments made during the third quarter of 2024 following FDA authorization of NJOY’s menthol products.

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- Definition Tabular disclosure of contingent payment arrangements including the terms that will result in payment and the accounting treatment that will be followed if such contingencies occur, including the potential impact on earnings per share if contingencies are to be settled in common stock of the entity. The description also may include the period over which amounts are expected to be paid, and changes in the amount since the previous reporting period. This also includes contingent options and commitments. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479581/805-30-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479581/805-30-50-1 + Details
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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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