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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, 2015
Altria
Group, Inc.

 
PM USA

 
Non-
Guarantor
Subsidiaries

 
Total
Consolidating
Adjustments

 
Consolidated

Net revenues
$

 
$
22,133

 
$
3,342

 
$
(41
)
 
$
25,434

Cost of sales

 
6,664

 
1,117

 
(41
)
 
7,740

Excise taxes on products

 
6,369

 
211

 

 
6,580

Gross profit

 
9,100

 
2,014

 

 
11,114

Marketing, administration and research costs
189

 
2,094

 
425

 

 
2,708

Reduction of PMI tax-related receivable
41

 

 

 

 
41

Asset impairment and exit costs

 

 
4

 

 
4

Operating (expense) income
(230
)
 
7,006

 
1,585

 

 
8,361

Interest and other debt expense, net
560

 
33

 
224

 

 
817

Loss on early extinguishment of debt
228

 

 

 

 
228

Earnings from equity investment in SABMiller
(757
)
 

 

 

 
(757
)
Gain on AB InBev/SABMiller business combination
(5
)
 

 

 

 
(5
)
(Loss) earnings before income taxes and equity earnings of subsidiaries
(256
)
 
6,973

 
1,361

 

 
8,078

(Benefit) provision for income taxes
(184
)
 
2,536

 
483

 

 
2,835

Equity earnings of subsidiaries
5,313

 
268

 

 
(5,581
)
 

Net earnings
5,241

 
4,705

 
878

 
(5,581
)
 
5,243

Net earnings attributable to noncontrolling interests

 

 
(2
)
 

 
(2
)
Net earnings attributable to Altria Group, Inc.
$
5,241

 
$
4,705

 
$
876

 
$
(5,581
)
 
$
5,241

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net earnings
$
5,241

 
$
4,705

 
$
878

 
$
(5,581
)
 
$
5,243

Other comprehensive (losses) earnings, net of deferred
income taxes
(598
)
 
86

 
(69
)
 
(17
)
 
(598
)
Comprehensive earnings
4,643

 
4,791

 
809

 
(5,598
)
 
4,645

Comprehensive earnings attributable to noncontrolling interests

 

 
(2
)
 

 
(2
)
Comprehensive earnings attributable to
Altria Group, Inc.
$
4,643

 
$
4,791

 
$
807

 
$
(5,598
)
 
$
4,643



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