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SEC Filings

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

Altria Group, Inc. and Subsidiaries
Notes to Consolidated Financial Statements
_________________________


Condensed Consolidating Statements of Earnings and Comprehensive Earnings
(in millions of dollars)
_____________________________
for the year ended December 31, 2016
Altria
Group, Inc.

 
PM USA

 
Non-
Guarantor
Subsidiaries

 
Total
Consolidating
Adjustments

 
Consolidated

Net revenues
$

 
$
22,146

 
$
3,633

 
$
(35
)
 
$
25,744

Cost of sales

 
6,628

 
1,153

 
(35
)
 
7,746

Excise taxes on products

 
6,187

 
220

 

 
6,407

Gross profit

 
9,331

 
2,260

 

 
11,591

Marketing, administration and research costs
165

 
1,996

 
489

 

 
2,650

Asset impairment and exit costs
5

 
97

 
77

 

 
179

Operating (expense) income
(170
)
 
7,238

 
1,694

 

 
8,762

Interest and other debt expense, net
519

 
10

 
218

 

 
747

Loss on early extinguishment of debt
823

 

 

 

 
823

Earnings from equity investment in SABMiller
(795
)
 

 

 

 
(795
)
Gain on AB InBev/SABMiller business combination
(13,865
)
 

 

 

 
(13,865
)
Earnings before income taxes and equity earnings of subsidiaries
13,148

 
7,228

 
1,476

 

 
21,852

Provision for income taxes
4,453

 
2,631

 
524

 

 
7,608

Equity earnings of subsidiaries
5,544

 
268

 

 
(5,812
)
 

Net earnings
14,239

 
4,865

 
952

 
(5,812
)
 
14,244

Net earnings attributable to noncontrolling interests

 

 
(5
)
 

 
(5
)
Net earnings attributable to Altria Group, Inc.
$
14,239

 
$
4,865

 
$
947

 
$
(5,812
)
 
$
14,239

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net earnings
$
14,239

 
$
4,865

 
$
952

 
$
(5,812
)
 
$
14,244

Other comprehensive earnings (losses), net of deferred
income taxes
1,228

 
(16
)
 
(28
)
 
44

 
1,228

Comprehensive earnings
15,467

 
4,849

 
924

 
(5,768
)
 
15,472

Comprehensive earnings attributable to noncontrolling interests

 

 
(5
)
 

 
(5
)
Comprehensive earnings attributable to
Altria Group, Inc.
$
15,467

 
$
4,849

 
$
919

 
$
(5,768
)
 
$
15,467




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