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SEC Filings

8-K
ALTRIA GROUP, INC. filed this Form 8-K on 02/01/2018
Entire Document
 

 
 
Schedule 1
ALTRIA GROUP, INC.
and Subsidiaries
Consolidated Statements of Earnings
For the Quarters Ended December 31,
(dollars in millions, except per share data)
(Unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
2017
 
2016
 
% Change
 
 
 
 
 
 
Net revenues
$
6,101

 
$
6,252

 
(2.4
)%
Cost of sales 1
1,844

 
1,905

 
 
Excise taxes on products 1
1,387

 
1,519

 
 
Gross profit
2,870

 
2,828

 
1.5
 %
Marketing, administration and research costs
623

 
701

 
 
Asset impairment and exit costs
9

 
56

 
 
Operating companies income
2,238

 
2,071

 
8.1
 %
Amortization of intangibles
6

 
6

 
 
General corporate expenses
69

 
72

 
 
Operating income
2,163

 
1,993

 
8.5
 %
Interest and other debt expense, net
180

 
176

 
 
Earnings from equity investment in AB InBev/SABMiller
(200
)
 
(231
)
 
 
Gain on AB InBev/SABMiller business combination

 
(13,660
)
 
 
Earnings before income taxes
2,183

 
15,708

 
(86.1
)%
(Benefit) provision for income taxes
(2,785
)
 
5,430

 
 
Net earnings
4,968

 
10,278

 
(51.7
)%
Net earnings attributable to noncontrolling interests
(2
)
 
(2
)
 
 
Net earnings attributable to Altria Group, Inc.
$
4,966

 
$
10,276

 
(51.7
)%
 
 
 
 
 
 
Per share data:
 
 
 
 
 
Basic and diluted earnings per share attributable to
Altria Group, Inc.
$
2.60

 
$
5.27

 
(50.7
)%
 
 
 
 
 
 
Weighted-average diluted shares outstanding
1,905

 
1,946

 
(2.1
)%
 
 
 
 
 
 
1  Cost of sales includes charges for resolution expenses related to state settlement agreements and FDA user fees. Supplemental information concerning those items and excise taxes on products sold is shown in Schedule 5.