Cover Page
Cover Page - shares | 9 Months Ended | |
Sep. 30, 2021 | Oct. 21, 2021 | |
Entity Information [Line Items] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2021 | |
Document Transition Report | false | |
Entity File Number | 1-08940 | |
Entity Registrant Name | Altria Group, Inc. | |
Entity Incorporation, State or Country Code | VA | |
Entity Tax Identification Number | 13-3260245 | |
Entity Address, Address Line One | 6601 West Broad Street, | |
Entity Address, City or Town | Richmond, | |
Entity Address, State or Province | VA | |
Entity Address, Postal Zip Code | 23230 | |
City Area Code | 804 | |
Local Phone Number | 274-2200 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding (in shares) | 1,836,988,822 | |
Amendment Flag | false | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q3 | |
Entity Central Index Key | 0000764180 | |
Current Fiscal Year End Date | --12-31 | |
Common Stock, $0.33 1/3 par value [Member] | ||
Entity Information [Line Items] | ||
Title of 12(b) Security | Common Stock, $0.33 1/3 par value | |
Trading Symbol | MO | |
Security Exchange Name | NYSE | |
1.000% Notes due 2023 [Member] | ||
Entity Information [Line Items] | ||
Title of 12(b) Security | 1.000% Notes due 2023 | |
Trading Symbol | MO23A | |
Security Exchange Name | NYSE | |
1.700% Notes due 2025 [Member] | ||
Entity Information [Line Items] | ||
Title of 12(b) Security | 1.700% Notes due 2025 | |
Trading Symbol | MO25 | |
Security Exchange Name | NYSE | |
2.200% Notes due 2027 [Member] | ||
Entity Information [Line Items] | ||
Title of 12(b) Security | 2.200% Notes due 2027 | |
Trading Symbol | MO27 | |
Security Exchange Name | NYSE | |
3.125% Notes due 2031 [Member] | ||
Entity Information [Line Items] | ||
Title of 12(b) Security | 3.125% Notes due 2031 | |
Trading Symbol | MO31 | |
Security Exchange Name | NYSE |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Millions | Sep. 30, 2021 | Dec. 31, 2020 |
Assets | ||
Cash and cash equivalents | $ 2,957 | $ 4,945 |
Receivables | 36 | 137 |
Inventories: | ||
Leaf tobacco | 644 | 844 |
Other raw materials | 159 | 200 |
Work in process | 30 | 502 |
Finished product | 300 | 420 |
Inventory, net | 1,133 | 1,966 |
Assets held for sale | 1,490 | 0 |
Other current assets | 404 | 69 |
Total current assets | 6,020 | 7,117 |
Property, plant and equipment, at cost | 4,418 | 5,150 |
Less accumulated depreciation | 2,900 | 3,138 |
Property, plant and equipment, net | 1,518 | 2,012 |
Goodwill | 5,177 | 5,177 |
Other intangible assets, net | 12,326 | 12,615 |
Investments in equity securities ($1,740 million and $1,868 million at September 30, 2021 and December 31, 2020, respectively, measured at fair value) | 13,874 | 19,529 |
Other assets | 649 | 964 |
Total Assets | 39,564 | 47,414 |
Liabilities | ||
Current portion of long-term debt | 1,105 | 1,500 |
Accounts payable | 266 | 380 |
Accrued liabilities: | ||
Marketing | 680 | 523 |
Settlement charges | 2,996 | 3,564 |
Other | 1,109 | 1,494 |
Dividends payable | 1,661 | 1,602 |
Liabilities held for sale | 295 | 0 |
Total current liabilities | 8,112 | 9,063 |
Long-term debt | 27,022 | 27,971 |
Deferred income taxes | 3,557 | 4,532 |
Accrued pension costs | 280 | 551 |
Accrued postretirement health care costs | 1,512 | 1,951 |
Other liabilities | 307 | 381 |
Total liabilities | 40,790 | 44,449 |
Contingencies (Note 12) | ||
Redeemable noncontrolling interest | 39 | 40 |
Stockholders’ (Deficit) Equity | ||
Common stock, par value $0.33 1/3 per share (2,805,961,317 shares issued) | 935 | 935 |
Additional paid-in capital | 5,846 | 5,910 |
Earnings reinvested in the business | 30,685 | 34,679 |
Accumulated other comprehensive losses | (3,430) | (4,341) |
Cost of repurchased stock (967,321,022 shares at September 30, 2021 and 947,542,152 shares at December 31, 2020) | (35,303) | (34,344) |
Total stockholders’ (deficit) equity attributable to Altria | (1,267) | 2,839 |
Noncontrolling interests | 2 | 86 |
Total stockholders’ (deficit) equity | (1,265) | 2,925 |
Total Liabilities and Stockholders’ (Deficit) Equity | $ 39,564 | $ 47,414 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions | Sep. 30, 2021 | Dec. 31, 2020 |
Stockholders’ (Deficit) Equity | ||
Investments, fair value disclosure | $ 1,740 | $ 1,868 |
Common stock, par value (usd per share) | $ 0.3333 | $ 0.3333 |
Common stock, shares issued (in shares) | 2,805,961,317 | 2,805,961,317 |
Shares repurchased (in shares) | 967,321,022 | 947,542,152 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Earnings (Losses) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Income Statement [Abstract] | ||||
Net revenues | $ 6,786 | $ 7,123 | $ 19,758 | $ 19,849 |
Cost of sales | 1,858 | 1,961 | 5,348 | 5,909 |
Excise taxes on products | 1,255 | 1,445 | 3,733 | 4,063 |
Gross profit | 3,673 | 3,717 | 10,677 | 9,877 |
Marketing, administration and research costs | 722 | 557 | 1,850 | 1,585 |
Operating income | 2,951 | 3,160 | 8,827 | 8,292 |
Interest and other debt expense, net | 266 | 310 | 869 | 893 |
Loss on early extinguishment of debt | 0 | 0 | 649 | 0 |
Net periodic benefit income, excluding service cost | (63) | (3) | (152) | (58) |
(Income) losses from equity investments | 5,915 | 472 | 5,789 | 306 |
Impairment of JUUL equity securities | 0 | 2,600 | 0 | 2,600 |
(Gain) loss on Cronos-related financial instruments | 135 | 105 | 128 | 202 |
Earnings (losses) before income taxes | (3,302) | (324) | 1,544 | 4,349 |
Provision (benefit) for income taxes | (582) | 632 | 693 | 1,817 |
Net earnings (losses) | (2,720) | (956) | 851 | 2,532 |
Net (earnings) losses attributable to noncontrolling interests | (2) | 4 | 0 | 11 |
Net earnings (losses) attributable to Altria | $ (2,722) | $ (952) | $ 851 | $ 2,543 |
Per share data: | ||||
Basic earnings (losses) per share attributable to Altria (in usd per share) | $ (1.48) | $ (0.51) | $ 0.46 | $ 1.37 |
Diluted earnings (losses) per share attributable to Altria (in usd per share) | $ (1.48) | $ (0.51) | $ 0.46 | $ 1.36 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Earnings (Losses) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Statement of Comprehensive Income [Abstract] | ||||
Net earnings (losses) | $ (2,720) | $ (956) | $ 851 | $ 2,532 |
Other comprehensive earnings (losses), net of deferred income taxes: | ||||
Benefit plans | 6 | (15) | 383 | 27 |
ABI | 161 | (15) | 495 | (928) |
Currency translation adjustments and other | 5 | 23 | 33 | (16) |
Other comprehensive earnings (losses), net of deferred income taxes | 172 | (7) | 911 | (917) |
Comprehensive earnings (losses) | (2,548) | (963) | 1,762 | 1,615 |
Comprehensive (earnings) losses attributable to noncontrolling interests | (2) | 4 | 0 | 11 |
Comprehensive earnings (losses) attributable to Altria | $ (2,550) | $ (959) | $ 1,762 | $ 1,626 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Stockholders' (Deficit) Equity - USD ($) $ in Millions | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Earnings Reinvested in the Business [Member] | Accumulated Other Comprehensive Losses [Member] | Cost of Repurchased Stock [Member] | Non-controlling Interests [Member] | |
Beginning balance at Dec. 31, 2019 | $ 6,319 | $ 935 | $ 5,970 | $ 36,539 | $ (2,864) | $ (34,358) | $ 97 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net earnings (losses) | [1] | 2,530 | 2,543 | (13) | ||||
Other comprehensive earnings (losses), net of deferred income taxes | (917) | (917) | ||||||
Stock award activity | 17 | 3 | 14 | |||||
Cash dividends declared | (4,726) | (4,726) | ||||||
Other | 9 | 9 | ||||||
Ending balance at Sep. 30, 2020 | 3,232 | 935 | 5,973 | 34,356 | (3,781) | (34,344) | 93 | |
Beginning balance at Jun. 30, 2020 | 5,786 | 935 | 5,964 | 36,908 | (3,774) | (34,345) | 98 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net earnings (losses) | [2] | (957) | (952) | (5) | ||||
Other comprehensive earnings (losses), net of deferred income taxes | (7) | (7) | ||||||
Stock award activity | 10 | 9 | 1 | |||||
Cash dividends declared | (1,600) | (1,600) | ||||||
Ending balance at Sep. 30, 2020 | 3,232 | 935 | 5,973 | 34,356 | (3,781) | (34,344) | 93 | |
Beginning balance at Dec. 31, 2020 | 2,925 | 935 | 5,910 | 34,679 | (4,341) | (34,344) | 86 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net earnings (losses) | [1] | 847 | 851 | (4) | ||||
Other comprehensive earnings (losses), net of deferred income taxes | 911 | 911 | ||||||
Stock award activity | 26 | 13 | 13 | |||||
Cash dividends declared | (4,845) | (4,845) | ||||||
Repurchases of common stock | (972) | (972) | ||||||
Other | [3] | (157) | (77) | (80) | ||||
Ending balance at Sep. 30, 2021 | (1,265) | 935 | 5,846 | 30,685 | (3,430) | (35,303) | 2 | |
Beginning balance at Jun. 30, 2021 | 3,259 | 935 | 5,840 | 35,065 | (3,602) | (34,981) | 2 | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Net earnings (losses) | [2] | (2,722) | (2,722) | 0 | ||||
Other comprehensive earnings (losses), net of deferred income taxes | 172 | 172 | ||||||
Stock award activity | 6 | 6 | 0 | |||||
Cash dividends declared | (1,658) | (1,658) | ||||||
Repurchases of common stock | (322) | (322) | ||||||
Ending balance at Sep. 30, 2021 | $ (1,265) | $ 935 | $ 5,846 | $ 30,685 | $ (3,430) | $ (35,303) | $ 2 | |
[1] | Amounts attributable to noncontrolling interests for the nine months ended September 30, 2021 and 2020 exclude net earnings of $4 million and $2 million, respectively, due to the redeemable noncontrolling interest related to Stag’s Leap Wine Cellars , which is reported in the mezzanine equity section on the condensed consolidated balance sheets. | |||||||
[2] | Amounts attributable to noncontrolling interests for the three months ended September 30, 2021 and 2020 exclude net earnings of $2 million and $1 million, respectively, due to the redeemable noncontrolling interest related to Stag’s Leap Wine Cellars , | |||||||
[3] | Represents the purchase of the remaining noncontrolling interests in Helix. For additional information, see Note 1. Background and Basis of Presentation |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Stockholders' (Deficit) Equity (Parenthetical) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Statement of Stockholders' Equity [Abstract] | ||||
Dividends declared (usd per share) | $ 0.90 | $ 0.86 | $ 2.62 | $ 2.54 |
Net earnings attributable to noncontrolling interests | $ 2 | $ 1 | $ 4 | $ 2 |
Condensed Consolidated Statem_5
Condensed Consolidated Statements of Cash Flows $ in Millions | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2021USD ($) | Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | ||||
Cash Provided by (Used in) Operating Activities | ||||||
Net earnings (losses) | $ (2,720) | $ 851 | $ 2,532 | |||
Adjustments to reconcile net earnings (losses) to operating cash flows: | ||||||
Depreciation and amortization | 190 | 192 | ||||
Deferred income tax provision (benefit) | (1,180) | (111) | ||||
(Income) losses from equity investments | 5,915 | 5,789 | 306 | |||
Dividends from ABI | 119 | 108 | ||||
(Gain) loss on Cronos-related financial instruments | 135 | 128 | 202 | |||
Impairment of JUUL equity securities | 0 | 0 | 2,600 | |||
Loss on early extinguishment of debt | 0 | 649 | 0 | |||
Cash effects of changes: | ||||||
Receivables | (7) | 1 | ||||
Inventories | 118 | 136 | ||||
Accounts payable | 3 | 24 | ||||
Income taxes | (200) | 0 | ||||
Accrued liabilities and other current assets | (104) | (504) | ||||
Accrued settlement charges | (568) | (140) | ||||
Pension plan contributions | (23) | (16) | ||||
Pension provisions and postretirement, net | (127) | (35) | ||||
Other, net | 104 | [1] | 549 | [1] | ||
Net cash provided by (used in) operating activities | 5,742 | 5,844 | ||||
Cash Provided by (Used in) Investing Activities | ||||||
Capital expenditures | (102) | (162) | ||||
Other, net | 60 | 55 | ||||
Net cash provided by (used in) investing activities | (42) | (107) | ||||
Cash Provided by (Used in) Financing Activities | ||||||
Proceeds from short-term borrowings | 0 | 3,000 | ||||
Repayment of short-term borrowings | 0 | (3,000) | ||||
Long-term debt issued | 5,472 | 1,993 | ||||
Long-term debt repaid | (6,542) | (1,000) | ||||
Repurchases of common stock | (972) | 0 | ||||
Dividends paid on common stock | (4,787) | (4,690) | ||||
Premiums and fees related to early extinguishment of debt | (623) | 0 | ||||
Other, net | (216) | (16) | ||||
Net cash provided by (used in) financing activities | (7,668) | (3,713) | ||||
Cash, cash equivalents and restricted cash: | ||||||
Increase (decrease) | (1,968) | 2,024 | ||||
Balance at beginning of period | 5,006 | 2,160 | ||||
Balance at end of period | 3,038 | 3,038 | 4,184 | |||
Cash and cash equivalents | 2,957 | 2,957 | ||||
Restricted cash included in other current assets | 0 | [2] | 0 | [2] | ||
Restricted cash included in other assets | 45 | [2] | 45 | [2] | ||
Restricted cash included in assets held for sale | 36 | [3] | 36 | [3] | ||
Cash, cash equivalents and restricted cash | $ 3,038 | $ 3,038 | $ 4,184 | |||
[1] | 2020 primarily reflects inventory-related amounts associated with the wine business strategic reset. For further discussion, see Note 9. Segment Reporting. | |||||
[2] | Restricted cash consisted of cash deposits collateralizing appeal bonds posted by PM USA to obtain stays of judgments pending appeals. See Note 12. Contingencies . | |||||
[3] | Cash included in assets held for sale at September 30, 2021 is related to the Ste. Michelle Transaction. For further discussion, see Note 3. Assets Held for Sale . |
Background and Basis of Present
Background and Basis of Presentation | 9 Months Ended |
Sep. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Background and Basis of Presentation | Background and Basis of Presentation When used in these notes, the term “ Altria,” refers to Altria Group, Inc. and its subsidiaries, unless the context requires otherwise. ▪ Background: At September 30, 2021, Altria’s wholly owned subsidiaries included Philip Morris USA Inc. (“PM USA”), which is engaged in the manufacture and sale of cigarettes in the United States; John Middleton Co. (“Middleton”), which is engaged in the manufacture and sale of machine-made large cigars and pipe tobacco and is a wholly owned subsidiary of PM USA; UST LLC (“UST”), which through its wholly owned subsidiaries, including U.S. Smokeless Tobacco Company LLC (“USSTC”) and Ste. Michelle Wine Estates Ltd. (“Ste. Michelle”), is engaged in the manufacture and sale of moist smokeless tobacco products (“MST”), snus products and wine; Helix Innovations LLC (“Helix”), which operates in the United States and Canada, and Helix Innovations GmbH and its subsidiaries (“Helix ROW”), which operate internationally in the rest-of-world, are engaged in the manufacture and sale of on! oral nicotine pouches; and Philip Morris Capital Corporation (“PMCC”), which maintains a portfolio of finance assets, substantially all of which are leveraged leases. On July 8, 2021, UST entered into a share purchase agreement pursuant to which it agreed to sell its subsidiary, International Wine & Spirits Ltd. (“IWS”), which includes Ste. Michelle. The sale was completed on October 1, 2021. At September 30, 2021, the assets and liabilities associated with the pending sale of IWS were classified as assets held for sale on Altria’s condensed consolidated balance sheet. For further discussion, see Note 3. Assets Held for Sale . Altria owns 100% of the global on! business as a result of transactions in December 2020 and April 2021 to purchase the remaining 20% interest in (i) Helix ROW and (ii) Helix, respectively . The total purchase price of the December 2020 and April 2021 transactions was approximately $250 million. Other Altria wholly owned subsidiaries included Altria Group Distribution Company, which provides sales and distribution services to certain Altria operating subsidiaries, and Altria Client Services LLC, which provides various support services in areas such as legal, regulatory, consumer engagement, finance, human resources and external affairs to Altria and its subsidiaries. Altria’s access to the operating cash flows of its wholly owned subsidiaries consists of cash received from the payment of dividends and distributions, and the payment of interest on intercompany loans by its subsidiaries. At September 30, 2021, Altria’s significant wholly owned subsidiaries were not limited by contractual obligations in their ability to pay cash dividends or make other distributions with respect to their equity interests. At September 30, 2021, Altria’s investments in equity securities consisted of Anheuser-Busch InBev SA/NV (“ABI”), Cronos Group Inc. (“Cronos”) and JUUL Labs, Inc. (“JUUL”). Altria accounts for its investments in ABI and Cronos under the equity method of accounting using a one-quarter lag. Altria accounts for its equity investment in JUUL under the fair value option. For further discussion of Altria’s investments in equity securities, see Note 4. Investments in Equity Securities . ▪ Dividends and Share Repurchases: In August 2021, Altria’s Board of Directors (the “Board of Directors” or “Board”) approved a 4.7% increase in the quarterly dividend rate to $0.90 per share of Altria common stock versus the previous rate of $0.86 per share. The current annualized dividend rate is $3.60. Future dividend payments remain subject to the discretion of the Board. In July 2019, the Board of Directors authorized a $1.0 billion share repurchase program. In April 2020, the Board rescinded the $500 million remaining in this program as part of Altria’s efforts to enhance its liquidity position in response to the COVID-19 pandemic. Altria did not repurchase any shares in 2020. In January 2021, the Board authorized a new $2.0 billion share repurchase program, of which $1,028 million was remaining at September 30, 2021. In October 2021, the Board authorized a $1.5 billion expansion of this program to $3.5 billion. The timing of share repurchases under this program depends upon marketplace conditions and other factors, and the program remains subject to the discretion of the Board. Altria’s share repurchase activity for the nine and three months ended September 30, 2021 was as follows: (in millions, except per share data) For the Nine Months Ended September 30, 2021 For the Three Months Ended September 30, 2021 Total number of shares repurchased 20.2 6.7 Aggregate cost of shares repurchased $ 972 $ 322 Average price per share of shares repurchased $ 48.17 $ 48.35 ▪ Basis of Presentation: The interim condensed consolidated financial statements of Altria are unaudited. It is the opinion of Altria’s management that all adjustments necessary for a fair statement of the interim results presented have been reflected in the interim condensed consolidated financial statements. All such adjustments were of a normal recurring nature. Net revenues and net earnings for any interim period are not necessarily indicative of results that may be expected for the entire year. Certain immaterial prior year amounts have been reclassified to conform with the current year’s presentation. These statements should be read in conjunction with Altria’s audited consolidated financial statements and related notes, which appear in Altria’s Annual Report on Form 10-K for the year ended December 31, 2020 (the “2020 Form 10-K”). On January 1, 2021, Altria adopted Accounting Standards Update (“ASU”) 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU No. 2019-12”). This guidance removes certain exceptions for investments, intraperiod allocations and interim calculations, and adds guidance to reduce complexity in accounting for income taxes. The adoption of ASU No. 2019-12 did not have a material impact on Altria’s condensed consolidated financial statements. Additionally, on January 1, 2021, Altria adopted ASU No. 2020-01, Investments - Equity Securities (Topic 321), Investments - Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815): Clarifying the Interactions between Topic 321, Topic 323, and Topic 815 (“ASU No. 2020-01”). This guidance provides clarification of the interaction of rules for equity securities, the equity method of accounting, and forward contracts and purchase options on certain types of securities. The adoption of ASU No. 2020-01 did not have a material impact on Altria’s condensed consolidated financial statements. For a description of issued accounting guidance applicable to, but not yet adopted by, Altria, see Note 13. New Accounting Guidance Not Yet Adopted . |
Revenues from Contracts with Cu
Revenues from Contracts with Customers | 9 Months Ended |
Sep. 30, 2021 | |
Revenue from Contract with Customer [Abstract] | |
Revenues from Contracts with Customers | Revenues from Contracts with Customers Altria disaggregates net revenues based on product type. For further discussion, see Note 9. Segment Reporting . In 2020, a majority of Altria’s businesses offered cash discounts to customers for prompt payment and calculated cash discounts as a percentage of the list price based on historical experience and agreed-upon payment terms. Beginning in the first quarter of 2021 for USSTC and the third quarter of 2021 for PM USA, cash discounts were calculated as a flat rate per unit, based on agreed-upon payment terms. Altria’s businesses record receivables net of the cash discounts on Altria’s condensed consolidated balance sheets. Altria’s businesses that receive payments in advance of product shipment record such payments as deferred revenue. These payments are included in other accrued liabilities on Altria’s condensed consolidated balance sheets until control of such products is obtained by the customer. Deferred revenue was $260 million and $301 million at September 30, 2021 and December 31, 2020, respectively. When cash is received in advance of product shipment, Altria’s businesses satisfy their performance obligations within three days of receiving payment. At September 30, 2021 and December 31, 2020, there were no differences between amounts recorded as deferred revenue and amounts subsequently recognized as revenue. Receivables were $144 million (including $108 million in assets held for sale) and $137 million at September 30, 2021 and December 31, 2020, respectively. At September 30, 2021 and December 31, 2020, there were no expected differences between amounts recorded and subsequently received, and Altria’s businesses did not record an allowance for doubtful accounts against these receivables. Altria’s businesses record an allowance for returned goods, which is included in other accrued liabilities on Altria’s condensed consolidated balance sheets. While all of Altria’s tobacco operating companies sell tobacco products with dates relative to freshness as printed on product packaging, it is USSTC’s policy to accept authorized sales returns from its customers for products that have passed such dates due to the limited shelf life of USSTC’s MST and snus products. Altria’s businesses record estimated sales returns, which are based principally on historical volume and return rates, as a reduction to revenues. Actual sales returns will differ from estimated sales returns to the extent actual results differ from estimated assumptions. Altria’s businesses reflect differences between actual and estimated sales returns in the period in which the actual amounts become known. These differences, if any, have not had a material impact on Altria’s condensed consolidated financial statements. All returned goods are destroyed upon return and not included in inventory. Consequently, Altria’s businesses do not record an asset for their right to recover goods from customers upon return. Sales incentives include variable payments related to goods sold by Altria’s businesses. Altria’s businesses include estimates of variable consideration as a reduction to revenues upon shipment of goods to customers. The sales incentives that require significant estimates and judgments are as follows: Price promotion payments- Altria’s businesses make price promotion payments, substantially all of which are made to their retail partners, to incent the promotion of certain product offerings in select geographic areas. Wholesale and retail participation payments- Altria’s businesses make payments to their wholesale and retail partners to incent merchandising and sharing of sales data in accordance with each business’s trade agreements. These estimates primarily include estimated wholesale to retail sales volume and historical acceptance rates. Actual payments will differ from estimated payments to the extent actual results differ from estimated assumptions. Differences between actual and estimated payments are reflected in the period such information becomes available. These differences, if any, have not had a material impact on Altria’s condensed consolidated financial statements. |
Assets Held for Sale
Assets Held for Sale | 9 Months Ended |
Sep. 30, 2021 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Assets Held for Sale | Assets Held for Sale On July 8, 2021, UST entered into a share purchase agreement pursuant to which it agreed to sell its subsidiary, IWS, which includes Ste. Michelle, to an entity controlled by investment funds managed by Sycamore Partners Management, L.P. in an all-cash transaction with a purchase price of approximately $1.2 billion and the assumption of certain liabilities of IWS and its subsidiaries (the “Ste. Michelle Transaction”). At September 30, 2021, the assets and liabilities associated with the Ste. Michelle Transaction were classified as assets held for sale and were measured at their fair value less costs to sell, resulting in a pre-tax charge of $41 million. A reserve (as shown below), representing the adjustment to record the assets and liabilities at their fair value less costs to sell, was included as a component of assets held for sale in Altria’s condensed consolidated balance sheets at September 30, 2021. Altria recorded an additional pre-tax charge of $10 million for disposition-related costs related to the Ste. Michelle Transaction. The total pre-tax charges of $51 million were included in the wine segment and recorded in marketing, administration and research costs in Altria’s condensed consolidated statements of earnings (losses) for the nine and three months ended September 30, 2021. On October 1, 2021, UST completed the sale of IWS and received approximately $1.2 billion in net cash proceeds. Altria expects to record additional adjustments related to the Ste. Michelle Transaction in the fourth quarter of 2021 and does not expect these adjustments to be material. The major classes of assets and liabilities of IWS classified as held for sale at September 30, 2021 were as follows: (in millions) September 30, 2021 Assets held for sale Cash and cash equivalents $ 36 Receivables 108 Inventories 715 Property, plant and equipment, net of accumulated depreciation 407 Other intangible assets, net 236 Other assets 29 Total assets 1,531 Reserve (41) Total assets held for sale 1,490 Liabilities held for sale Accounts payable 114 Accrued liabilities 83 Accrued pension costs 49 Other liabilities 49 Total liabilities held for sale 295 Assets and liabilities held for sale, net $ 1,195 |
Investments in Equity Securitie
Investments in Equity Securities | 9 Months Ended |
Sep. 30, 2021 | |
Investments [Abstract] | |
Investments in Equity Securities | Investments in Equity Securities The carrying amount of Altria’s investments consisted of the following: (in millions) September 30, 2021 December 31, 2020 ABI $ 11,237 $ 16,651 JUUL 1,705 1,705 Cronos (1) 932 1,173 Total $ 13,874 $ 19,529 (1) Atria’s investment in Cronos at September 30, 2021 consisted of Altria’s equity method investment in Cronos ($897 million), the Cronos warrant ($32 million) and the Fixed-price Preemptive Rights ($3 million), (collectively, “Investment in Cronos”). The Investment in Cronos at December 31, 2020 consisted of Altria’s equity method investment in Cronos ($1,010 million), the Cronos warrant ($139 million) and the Fixed-price Preemptive Rights ($24 million). See below for further discussion. Income (losses) from equity investments accounted for under the equity method of accounting and fair value option consisted of the following: For the Nine Months Ended September 30, For the Three Months Ended September 30, (in millions) 2021 2020 2021 2020 ABI (1) $ (5,644) $ (306) $ (6,036) $ (418) Cronos (145) — 21 (54) Income (losses) from investments under equity method of accounting (5,789) (306) $ (6,015) $ (472) JUUL — — 100 — Income (losses) from equity investments $ (5,789) $ (306) $ (5,915) $ (472) (1) For the nine and three months ended September 30, 2021, Altria recorded a non-cash, pre-tax impairment charge of $6,157 million related to its equity investment in ABI. See below for further discussion. Investment in ABI At September 30, 2021, Altria had an approximate 10% ownership interest in ABI, consisting of 185 million restricted shares of ABI (the “Restricted Shares”) and 12 million ordinary shares of ABI. The Restricted Shares: ▪ are unlisted and not admitted to trading on any stock exchange; ▪ are convertible by Altria into ordinary shares of ABI on a one-for-one basis; ▪ rank equally with ordinary shares of ABI with regards to dividends and voting rights; and ▪ have director nomination rights with respect to ABI. The Restricted Shares were subject to a five Altria accounts for its investment in ABI under the equity method of accounting because Altria has the ability to exercise significant influence over the operating and financial policies of ABI, including having active representation on ABI’s board of directors and certain ABI board committees. Through this representation, Altria participates in ABI policy making processes. Altria reports its share of ABI’s results using a one-quarter lag because ABI’s results are not available in time for Altria to record them in the concurrent period. The fair value of Altria’s equity investment in ABI is based on (i) unadjusted quoted prices in active markets for ABI’s ordinary shares and was classified in Level 1 of the fair value hierarchy and (ii) observable inputs other than Level 1 prices, such as quoted prices for similar assets for the Restricted Shares, and was classified in Level 2 of the fair value hierarchy. Altria can convert its Restricted Shares to ordinary shares at its discretion. Therefore, the fair value of each Restricted Share is based on the value of an ordinary share. In October 2019, the fair value of Altria’s equity investment in ABI declined below its carrying value and has not recovered. At December 31, 2020, the fair value of Altria’s equity investment in ABI was $13.8 billion (carrying value of $16.7 billion), which was less than its carrying value by approximately 17%. In preparing its financial statements for the period ended December 31, 2020, Altria evaluated the factors related to the fair value decline, including the impact on the fair value of ABI’s shares during the COVID-19 pandemic, which has negatively impacted ABI’s business. Altria evaluated the duration and magnitude of the fair value decline, ABI’s financial condition and near-term prospects and Altria’s intent and ability to hold its investment in ABI until recovery. Altria concluded that the decline in fair value of its investment in ABI at December 31, 2020 below its carrying value was temporary and, therefore, no impairment was recorded at that time. Following the consideration of the same factors, Altria, in preparing its financial statements for the period ended September 30, 2021, concluded that the decline in fair value of its investment in ABI at September 30, 2021 was other than temporary. As a result, Altria recorded a non-cash, pre-tax impairment charge of $6.2 billion for the nine and three months ended September 30, 2021, which was recorded to income (losses) from equity investments in its condensed consolidated statements of earnings (losses). This impairment charge reflects the difference between the fair value of Altria’s investment in ABI using ABI’s share price at September 30, 2021 and the carrying value of Altria’s equity investment in ABI at September 30, 2021. Altria continues to have confidence in ABI’s (i) long-term strategies, (ii) premium global brands, (iii) experienced management team and (iv) capability to successfully navigate its near-term challenges. Altria further expects that the impacts related to the COVID-19 pandemic that have negatively impacted ABI’s global business are transitory, but now also anticipates that the full recovery to carrying value will take longer than previously expected. This is evidenced by the resumption of declines in fair value during the third quarter of 2021, following positive share price momentum during the first half of 2021. At September 30, 2021, prior to recording the impairment charge, the fair value of Altria’s investment in ABI was below the carrying value by approximately 35%, which represents an additional 18% reduction in ABI’s share price since December 31, 2020. After recording the impairment charge, the fair value and carrying value of Altria’s equity investment in ABI at September 30, 2021 were $11.2 billion. At September 30, 2021, the carrying value of Altria’s equity investment in ABI exceeded its share of ABI’s net assets attributable to equity holders of ABI by approximately $5.1 billion. Substantially all of this difference is comprised of goodwill and other indefinite-lived intangible assets (consisting primarily of trademarks). Investment in JUUL In December 2018, Altria made an investment in JUUL and received a 35% economic interest in JUUL through non-voting shares, which were convertible at Altria’s election into voting shares (“Share Conversion”), and a security convertible into additional non-voting or voting shares, as applicable, upon settlement or exercise of certain JUUL convertible securities (the “JUUL Transaction”). Altria received a broad preemptive right to purchase JUUL shares, exercisable each quarter upon dilution, to maintain its ownership percentage and is subject to a standstill restriction under which it may not acquire additional JUUL shares above its 35% interest. Furthermore, Altria agreed not to sell or transfer any of its JUUL shares until December 20, 2024. On April 1, 2020, the U.S. Federal Trade Commission (“FTC”) issued an administrative complaint challenging Altria’s investment in JUUL. For further discussion, see Note 12. Contingencies - Antitrust Litigation . In November 2020, Altria exercised its rights to convert its non-voting JUUL shares into voting shares. Altria does not currently intend to exercise its additional governance rights obtained upon Share Conversion, including the right to elect directors to JUUL’s board or to vote its JUUL shares other than as a passive investor, pending the outcome of the FTC administrative complaint. At September 30, 2021, Altria had a 35% ownership interest in JUUL, consisting of 42 million voting shares. Following Share Conversion in the fourth quarter of 2020, Altria elected to account for its equity method investment in JUUL under the fair value option. Under this option, Altria’s condensed consolidated statements of earnings (losses) include any cash dividends received from its investment in JUUL and any changes in the estimated fair value of its investment, which is calculated quarterly. Altria believes the fair value option provides quarterly transparency to investors as to the fair market value of Altria’s investment in JUUL, given the changes and volatility in the e-vapor category since Altria’s initial investment, as well as the lack of publicly available information regarding JUUL’s business or a market-derived valuation. The following table provides a reconciliation of the beginning and ending balance of Altria’s investment in JUUL, which is classified in Level 3 of the fair value hierarchy: Investment (in millions) Balance Balance at December 31, 2020 $ 1,705 Unrealized gains (losses) included in income (losses) from equity investments — Balance at September 30, 2021 $ 1,705 For the three months ended September 30, 2021, Altria recorded a non-cash, pre-tax unrealized gain of $100 million, as a result of changes in the estimated fair value of its investment in JUUL. At September 30, 2021, the estimated fair value of Altria’s JUUL investment was $1.7 billion, unchanged from its December 31, 2020 estimated fair value. There were no material changes to the significant assumptions used in the valuations, as described below, during the nine and three months ended September 30, 2021. Prior to Share Conversion, Altria accounted for its investment in JUUL as an investment in an equity security. Since the JUUL shares do not have a readily determinable fair value, Altria elected to measure its investment in JUUL at its cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. There were no upward or downward adjustments to the carrying value of Altria’s investment in JUUL resulting from observable price changes in orderly transactions since the JUUL Transaction through the date of Share Conversion. In addition, prior to Share Conversion, Altria reviewed its investment in JUUL for impairment by performing a qualitative assessment of impairment indicators on a quarterly basis in connection with the preparation of its financial statements. If this qualitative assessment indicated that Altria’s investment in JUUL may be impaired, a quantitative assessment was performed. If the quantitative assessment indicated the estimated fair value of the investment was less than its carrying value, the investment was written down to its fair value. In September 2020, JUUL announced a strategic update, which included its plans for a significant global workforce reduction, its evaluation of its resource allocation and the possibility of exiting various international markets. As part of the preparation of Altria’s financial statements for the period ended September 30, 2020, Altria performed a qualitative assessment of impairment indicators for its investment in JUUL and determined that JUUL’s strategic update was an indicator of impairment at September 30, 2020, given the significant deterioration in JUUL’s business prospects. Given the existence of this impairment indicator, Altria performed a quantitative valuation of its investment in JUUL during the third quarter of 2020 and recorded a non-cash, pre-tax charge of $2.6 billion for the nine and three months ended September 30, 2020, reported as impairment of JUUL equity securities in its condensed consolidated statements of earnings (losses). The impairment charge was driven by Altria’s projections of lower JUUL revenues over time due to lower pricing assumptions and delays in JUUL achieving previously forecasted operating margin performance. These drivers were the result of (i) JUUL’s revised international expansion plans and (ii) the evolving U.S. e-vapor category and associated competitive dynamics. Altria uses an income approach to estimate the fair value of its investment in JUUL. The income approach reflects the discounting of future cash flows for the U.S. and international markets at a rate of return that incorporates the risk-free rate for the use of those funds, the expected rate of inflation and the risks associated with realizing future cash flows. Future cash flows were based on a range of scenarios that consider various potential regulatory and market outcomes. In determining the estimated fair value of its investment in JUUL, as of September 30, 2021 and December 31, 2020, Altria made various judgments, estimates and assumptions, the most significant of which were sales volume, operating margins, discount rates and perpetual growth rates. All significant inputs used in the valuation are classified in Level 3 of the fair value hierarchy. Additionally, in determining these significant assumptions, Altria made judgments regarding the (i) likelihood and extent of various potential regulatory actions and the continued adverse public perception impacting the e-vapor category and specifically JUUL, (ii) risk created by the number and types of legal cases pending against JUUL and (iii) expectations for the future state of the e-vapor category, including competitive dynamics. Investment in Cronos At September 30, 2021, Altria had a 41.9% ownership interest in Cronos, consisting of 156.6 million shares, which Altria accounts for under the equity method of accounting. Altria’s ownership percentage decreased from 43.5% at December 31, 2020 due to the issuance of additional shares by Cronos. Altria reports its share of Cronos’s results using a one-quarter lag because Cronos’s results are not available in time for Altria to record them in the concurrent period. As part of its Investment in Cronos, at September 30, 2021, Altria owned: ▪ anti-dilution protections to purchase Cronos common shares, exercisable each quarter upon dilution, to maintain its ownership percentage. Certain of the anti-dilution protections provide Altria the ability to purchase additional Cronos common shares at a per share exercise price of Canadian dollar (“CAD”) $16.25 upon the occurrence of specified events (“Fixed-price Preemptive Rights”). Based on Altria’s assumptions as of September 30, 2021, Altria estimates the Fixed-price Preemptive Rights allows Altria to purchase up to an additional approximately 14 million common shares of Cronos; and ▪ a warrant providing Altria the ability to purchase an additional approximate 10% of common shares of Cronos (approximately 83 million common shares at September 30, 2021) at a per share exercise price of CAD $19.00, which expires on March 8, 2023. If exercised in full, the exercise prices for the warrant and Fixed-price Preemptive Rights are approximately CAD $1.6 billion and CAD $0.2 billion, respectively (approximately USD $1.3 billion and $0.2 billion, respectively, based on the CAD to USD exchange rate on October 25, 2021). At September 30, 2021, upon full exercise of the Fixed-price Preemptive Rights, to the extent such rights become available, and the warrant, Altria would own approximately 53% of the outstanding common shares of Cronos. For a discussion of derivatives related to the Investment in Cronos, including Altria’s accounting for changes in the fair value of these derivatives, see Note 5. Financial Instruments . The fair value of Altria’s equity method investment in Cronos is based on unadjusted quoted prices in active markets for Cronos’s common shares and was classified in Level 1 of the fair value hierarchy. In September 2021, the fair value of Altria’s equity method investment in Cronos declined below its carrying value. At September 30, 2021, the fair value of Altria’s equity method investment in Cronos was less than its carrying value by $14 million or approximately 2%. The fair value of Altria’s equity method investment in Cronos exceeded its carrying value by $77 million or approximately 8% at December 31, 2020. Based on Altria’s evaluation of the duration and magnitude of the fair value decline at September 30, 2021, Altria concluded that the decline in fair value of its equity method investment in Cronos below its carrying value is temporary and, therefore, no impairment was recorded. |
Financial Instruments
Financial Instruments | 9 Months Ended |
Sep. 30, 2021 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Financial Instruments | Financial Instruments Altria enters into derivative financial instruments to mitigate the potential impact of certain market risks, including foreign currency exchange rate risk. Altria uses various types of derivative financial instruments, including forward contracts, options and swaps. Altria does not enter into or hold derivative financial instruments for trading or speculative purposes. Altria’s investment in ABI, whose functional currency is the Euro, exposes Altria to foreign currency exchange risk on the carrying value of its investment. To manage this risk, Altria designates certain foreign exchange contracts, including cross-currency swap contracts and forward contracts (collectively, “foreign currency contracts”), and Euro denominated unsecured long-term notes (“foreign currency denominated debt”) as net investment hedges of Altria’s investment in ABI. In May 2021, all outstanding foreign currency contracts matured. When Altria has foreign currency contracts in effect, counterparties are domestic and international financial institutions. Under these contracts, Altria is exposed to potential losses due to non-performance by these counterparties. Altria manages its credit risk by entering into transactions with counterparties with investment grade credit ratings, limiting the amount of exposure Altria has with each counterparty and monitoring the financial condition of each counterparty. The counterparty agreements contain provisions that require Altria to maintain an investment grade credit rating. In the event Altria’s credit rating falls below investment grade, counterparties to Altria’s foreign currency contracts can require Altria to post collateral. No collateral was received or posted related to derivative assets and liabilities at December 31, 2020. The following table provides (i) the aggregate notional amounts of foreign currency contracts and (ii) the aggregate carrying value and fair value of foreign currency denominated debt: (in millions) September 30, 2021 December 31, 2020 Foreign currency contracts (notional amounts) $ — $ 1,066 Foreign currency denominated debt Carrying value 4,905 5,171 Fair value 5,288 5,687 Altria’s estimates of the fair values of its foreign currency contracts are determined using valuation models with significant inputs that are readily available in public markets, or can be derived from observable market transactions, and therefore are classified in Level 2 of the fair value hierarchy. An adjustment for credit risk and non-performance risk is included in the fair values of foreign currency contracts. The following table provides the aggregate carrying value and fair value of Altria’s total long-term debt: (in millions) September 30, 2021 December 31, 2020 Carrying value $ 28,127 $ 29,471 Fair value 31,037 34,682 Altria’s estimate of the fair value of its total long-term debt is based on observable market information derived from a third-party pricing source and is classified in Level 2 of the fair value hierarchy. The Fixed-price Preemptive Rights and Cronos warrant, which are further discussed in Note 4. Investments in Equity Securities , are derivative financial instruments, which are required to be recorded at fair value. The fair values of the Fixed-price Preemptive Rights and Cronos warrant are estimated using Black-Scholes option-pricing models, adjusted for observable inputs (which are classified in Level 1 of the fair value hierarchy), including share price, and unobservable inputs, including probability factors and weighting of expected life, volatility levels and risk-free interest rates (which are classified in Level 3 of the fair value hierarchy) based on the following assumptions at: Fixed-price Preemptive Rights Cronos Warrant September 30, 2021 December 31, 2020 September 30, 2021 December 31, 2020 Share price (1) C$7.15 C$8.84 C$7.15 C$8.84 Expected life (2) 0.81 year 1.05 years 1.43 years 2.18 years Expected volatility (3) 67.32% 80.68% 67.32% 80.68% Risk-free interest rate (4)(5) 0.24% 0.13% 0.39% 0.21% Expected dividend yield (6) —% —% —% —% (1) Based on the closing market price for Cronos common stock on the Toronto Stock Exchange on the date indicated. (2) Based on the weighted-average expected life of the Fixed-price Preemptive Rights (with a range from approximately 0.25 year to 4.00 years at September 30, 2021 and 0.25 year to 5 years at December 31, 2020) and the March 8, 2023 expiration date of the Cronos warrant. (3) Based on a blend of historical volatility of the underlying equity security and implied volatility from traded options on the underlying equity security at September 30, 2021. Based on a blend of historical volatility levels of the underlying equity security and peer companies at December 31, 2020. (4) Based on the implied yield currently available on Canadian Treasury zero coupon issues (with a range from approximately 0.12% to 0.89% at September 30, 2021 and 0.06% to 0.39% at December 31, 2020) weighted for the remaining expected life of the Fixed-price Preemptive Rights. (5) Based on the implied yield currently available on Canadian Treasury zero coupon issues and the expected life of the Cronos warrant. (6) Based on Cronos’s expected dividend payments. The following table provides a reconciliation of the beginning and ending balance of the Fixed-price Preemptive Rights and Cronos warrant, which are classified in Level 3 of the fair value hierarchy: (in millions) Balance at December 31, 2019 $ 303 Pre-tax earnings (losses) recognized in net earnings (losses) (140) Balance at December 31, 2020 163 Pre-tax earnings (losses) recognized in net earnings (losses) (128) Balance at September 30, 2021 $ 35 Altria elects to record the gross assets and liabilities of derivative financial instruments executed with the same counterparty on its condensed consolidated balance sheets. The fair values of Altria’s derivative financial instruments on a gross basis included on the condensed consolidated balance sheets were as follows: Fair Value of Assets Fair Value of Liabilities (in millions ) Balance Sheet Classification September 30, 2021 December 31, 2020 Balance Sheet Classification September 30, 2021 December 31, 2020 Derivatives designated as hedging instruments: Foreign currency contracts Other current assets $ — $ — Other accrued liabilities $ — $ 87 Foreign currency contracts Other assets — — Other liabilities — — Total $ — $ — $ — $ 87 Derivatives not designated as hedging instruments: Cronos warrant Investments in equity securities $ 32 $ 139 Fixed-price Preemptive Rights Investments in equity securities 3 24 Total $ 35 $ 163 Total derivatives $ 35 $ 163 $ — $ 87 Altria records in its condensed consolidated statements of earnings (losses) any changes in the fair values of the Fixed-price Preemptive Rights and Cronos warrant as gains or losses on Cronos-related financial instruments in the periods in which the changes occur. For the nine and three months ended September 30, 2021 and 2020, Altria recorded non-cash, pre-tax unrealized gains (losses), representing the changes in the fair values of the Fixed-price Preemptive Rights and Cronos warrant, as follows: For the Nine Months Ended September 30, For the Three Months Ended September 30, (in millions) 2021 2020 2021 2020 Fixed-price Preemptive Rights $ (21) $ (54) $ (17) $ (25) Cronos warrant (107) (148) (118) (80) Total $ (128) $ (202) $ (135) $ (105) Net Investment Hedging The pre-tax effects of Altria’s net investment hedges on accumulated other comprehensive losses and the condensed consolidated statements of earnings (losses) were as follows: Gain (Loss) Recognized in Accumulated Other Comprehensive Losses Gain (Loss) Recognized in Gain (Loss) Recognized in Accumulated Other Comprehensive Losses Gain (Loss) Recognized in For the Nine Months Ended September 30, For the Three Months Ended September 30, (in millions) 2021 2020 2021 2020 2021 2020 2021 2020 Foreign currency contracts $ 16 $ (28) $ 7 $ 33 $ — $ (66) $ — $ 8 Foreign currency denominated debt 270 (215) — — 118 (206) — — Total $ 286 $ (243) $ 7 $ 33 $ 118 $ (272) $ — $ 8 The changes in the fair value of the foreign currency contracts and in the carrying value of the foreign currency denominated debt due to changes in the Euro to USD exchange rate were recognized in accumulated other comprehensive losses related to ABI. Gains on the foreign currency contracts arising from components excluded from effectiveness testing were recognized in interest and other debt expense, net in the condensed consolidated statements of earnings (losses) based on an amortization approach. |
Benefit Plans
Benefit Plans | 9 Months Ended |
Sep. 30, 2021 | |
Retirement Benefits [Abstract] | |
Benefit Plans | Benefit Plans Components of Net Periodic Benefit (Income) Cost Net periodic benefit (income) cost consisted of the following: Pension Postretirement Pension Postretirement For the Nine Months Ended For the Three Months Ended (in millions) 2021 2020 2021 2020 2021 2020 2021 2020 Service cost $ 51 $ 55 $ 15 $ 13 $ 17 $ 18 $ 5 $ 5 Interest cost 139 188 29 44 46 62 8 14 Expected return on plan assets (393) (376) (10) (11) (131) (125) (2) (4) Amortization: Net loss 99 108 16 7 33 55 2 — Prior service cost (credit) 3 4 (35) (22) 1 2 (20) (7) Net periodic benefit (income) cost $ (101) $ (21) $ 15 $ 31 $ (34) $ 12 $ (7) $ 8 Employer Contributions Altria makes contributions to the pension plans to the extent that the contributions are tax deductible and pays benefits that relate to plans for salaried employees that cannot be funded under Internal Revenue Service regulations. Altria made employer contributions of $23 million to its pension plans and did not make any contributions to its postretirement plans during the nine months ended September 30, 2021. Currently, Altria anticipates making additional employer contributions to its pension plans of up to approximately $5 million and no additional contributions to its postretirement plans for the remainder of 2021. However, the foregoing estimates of 2021 contributions to the pension and postretirement plans are subject to change as a result of changes in tax and other benefit laws, changes in interest rates, as well as asset performance significantly above or below the assumed long-term rate of return for each respective plan. During the second quarter of 2021, Altria announced several amendments to its salaried retiree healthcare plans, primarily changing its post-age 65 coverage to a private medicare marketplace. These amendments triggered a plan remeasurement as of May 31, 2021 and resulted in Altria recording a reduction of $432 million to its accrued postretirement health care costs liability and a corresponding reduction to its accumulated other comprehensive losses on its condensed consolidated balance sheet. Ongoing amortization has been adjusted to reflect these changes as of June 1, 2021 and is reflected in the amounts shown above. |
Earnings (Losses) per Share
Earnings (Losses) per Share | 9 Months Ended |
Sep. 30, 2021 | |
Earnings Per Share [Abstract] | |
Earnings (Losses) per Share | Earnings (Losses) per Share Basic and diluted earnings (losses) per share (“EPS”) were calculated using the following: For the Nine Months Ended September 30, For the Three Months Ended September 30, (in millions) 2021 2020 2021 2020 Net earnings (losses) attributable to Altria $ 851 $ 2,543 $ (2,722) $ (952) Less: Distributed and undistributed earnings attributable to share-based awards (8) (6) (2) (1) Earnings (losses) for basic and diluted EPS $ 843 $ 2,537 $ (2,724) $ (953) Weighted-average shares for basic EPS 1,849 1,858 1,842 1,858 Plus: contingently issuable performance stock units — 1 — 1 Weighted-average shares for diluted EPS 1,849 1,859 1,842 1,859 |
Other Comprehensive Earnings_Lo
Other Comprehensive Earnings/Losses | 9 Months Ended |
Sep. 30, 2021 | |
Equity [Abstract] | |
Other Comprehensive Earnings/Losses | Other Comprehensive Earnings/Losses The following tables set forth the changes in each component of accumulated other comprehensive losses, net of deferred income taxes, attributable to Altria: For the Nine Months Ended September 30, 2021 (in millions) Benefit Plans ABI Currency Accumulated Balances, December 31, 2020 $ (2,420) $ (1,938) $ 17 $ (4,341) Other comprehensive earnings (losses) before reclassifications 432 (1) 685 35 1,152 Deferred income taxes (118) (151) — (269) Other comprehensive earnings (losses) before reclassifications, net of deferred income taxes 314 534 35 883 Amounts reclassified to net earnings (losses) 92 (49) (2) 41 Deferred income taxes (23) 10 — (13) Amounts reclassified to net earnings (losses), net of deferred income taxes 69 (39) (2) 28 Other comprehensive earnings (losses), net of deferred income taxes 383 495 (2) 33 911 Balances, September 30, 2021 $ (2,037) $ (1,443) $ 50 $ (3,430) For the Three Months Ended September 30, 2021 (in millions) Benefit Plans ABI Currency Accumulated Balances, June 30, 2021 $ (2,043) $ (1,604) $ 45 $ (3,602) Other comprehensive earnings (losses) before reclassifications — 215 6 221 Deferred income taxes (9) (48) — (57) Other comprehensive earnings (losses) before reclassifications, net of deferred income taxes (9) 167 6 164 Amounts reclassified to net earnings (losses) 20 (7) (1) 12 Deferred income taxes (5) 1 — (4) Amounts reclassified to net earnings (losses), net of deferred income taxes 15 (6) (1) 8 Other comprehensive earnings (losses), net of deferred income taxes 6 161 (2) 5 172 Balances, September 30, 2021 $ (2,037) $ (1,443) $ 50 $ (3,430) For the Nine Months Ended September 30, 2020 (in millions) Benefit Plans ABI Currency Accumulated Balances, December 31, 2019 $ (2,192) $ (693) $ 21 $ (2,864) Other comprehensive earnings (losses) before reclassifications (75) (1,211) (16) (1,302) Deferred income taxes 19 260 — 279 Other comprehensive earnings (losses) before reclassifications, net of deferred income taxes (56) (951) (16) (1,023) Amounts reclassified to net earnings (losses) 111 29 — 140 Deferred income taxes (28) (6) — (34) Amounts reclassified to net earnings (losses), net of deferred income taxes 83 23 — 106 Other comprehensive earnings (losses), net of deferred income taxes 27 (928) (2) (16) (917) Balances, September 30, 2020 $ (2,165) $ (1,621) $ 5 $ (3,781) For the Three Months Ended September 30, 2020 (in millions) Benefit Plans ABI Currency Accumulated Balances, June 30, 2020 $ (2,150) $ (1,606) $ (18) $ (3,774) Other comprehensive earnings (losses) before reclassifications (75) (71) 23 (123) Deferred income taxes 19 22 — 41 Other comprehensive earnings (losses) before reclassifications, net of deferred income taxes (56) (49) 23 (82) Amounts reclassified to net earnings (losses) 55 44 — 99 Deferred income taxes (14) (10) — (24) Amounts reclassified to net earnings (losses), net of deferred income taxes 41 34 — 75 Other comprehensive earnings (losses), net of deferred income taxes (15) (15) (2) 23 (7) Balances, September 30, 2020 $ (2,165) $ (1,621) $ 5 $ (3,781) (1) Reflects the remeasurement impact of salaried retiree healthcare plan amendments. For further discussion, see Note 6. Benefit Plans. (2) Primarily reflects Altria’s share of ABI’s currency translation adjustments and the impact of Altria’s designated net investment hedges. For further discussion of designated net investment hedges, see Note 5. Financial Instruments. The following table sets forth pre-tax amounts by component, reclassified from accumulated other comprehensive losses to net earnings (losses): For the Nine Months Ended September 30, For the Three Months Ended September 30, (in millions) 2021 2020 2021 2020 Benefit Plans: (1) Net loss $ 124 $ 129 $ 39 $ 60 Prior service cost/credit (32) (18) (19) (5) 92 111 20 55 ABI (2) (49) 29 (7) 44 Currency Translation Adjustments and Other (2) (2) — (1) — Pre-tax amounts reclassified from accumulated other comprehensive losses to net earnings (losses) $ 41 $ 140 $ 12 $ 99 (1) Amounts are included in net defined benefit plan costs. For further information related to defined benefit plans, see Note 6. Benefit Plans. (2) Amounts are included in (income) losses from equity investments. For further information related to equity investments, see Note 4. Investments in Equity Securities. |
Segment Reporting
Segment Reporting | 9 Months Ended |
Sep. 30, 2021 | |
Segment Reporting [Abstract] | |
Segment Reporting | Segment Reporting The products of Altria’s subsidiaries include smokeable tobacco products, consisting of combustible cigarettes manufactured and sold by PM USA, and machine-made large cigars and pipe tobacco manufactured and sold by Middleton; oral tobacco products, consisting of MST and snus products manufactured and sold by USSTC, and oral nicotine pouches manufactured and sold by Helix; and wine produced and/or distributed by Ste. Michelle. The products and services of these subsidiaries constitute Altria’s reportable segments of smokeable products, oral tobacco products and wine. The financial services and the innovative tobacco products businesses, which include the heated tobacco business and Helix ROW, are included in all other. Altria’s chief operating decision maker (the “CODM”) reviews operating companies income (loss) (“OCI”) to evaluate the performance of, and allocate resources to, the segments. OCI for the segments is defined as operating income before general corporate expenses and amortization of intangibles. Interest and other debt expense, net, along with net periodic benefit income/cost, excluding service cost, and provision (benefit) for income taxes are centrally managed at the corporate level and, accordingly, such items are not presented by segment since they are excluded from the measure of segment profitability reviewed by the CODM. Segment data were as follows: For the Nine Months Ended September 30, For the Three Months Ended September 30, (in millions) 2021 2020 2021 2020 Net revenues: Smokeable products $ 17,275 $ 17,522 $ 5,975 $ 6,313 Oral tobacco products 1,945 1,901 626 640 Wine 494 434 177 157 All other 44 (8) 8 13 Net revenues $ 19,758 $ 19,849 $ 6,786 $ 7,123 Earnings (losses) before income taxes: OCI: Smokeable products $ 7,901 $ 7,609 $ 2,753 $ 2,789 Oral tobacco products 1,269 1,297 405 436 Wine 21 (347) (24) 19 All other (56) (63) (30) (7) Amortization of intangibles (53) (54) (18) (17) General corporate expenses (255) (150) (135) (60) Operating income 8,827 8,292 2,951 3,160 Interest and other debt expense, net (869) (893) (266) (310) Loss on early extinguishment of debt (649) — — — Net periodic benefit income, excluding service cost 152 58 63 3 Income (losses) from equity investments (5,789) (306) (5,915) (472) Impairment of JUUL equity securities — (2,600) — (2,600) Gain (loss) on Cronos-related financial instruments (128) (202) (135) (105) Earnings (losses) before income taxes $ 1,544 $ 4,349 $ (3,302) $ (324) The comparability of OCI for the reportable segments was affected by the following: ▪ Non-Participating Manufacturer (“NPM”) Adjustment Items: Pre-tax (income) for NPM adjustment items was recorded to Altria’s condensed consolidated statements of earnings (losses) as follows: For the Nine Months Ended September 30, For the Three Months Ended September 30, (in millions) 2021 2021 Smokeable products segment $ (53) $ (21) Interest and other debt expense, net (23) (23) Total $ (76) $ (44) NPM adjustment items result from the resolutions of certain disputes with states and territories related to the NPM adjustment provision under the 1998 Master Settlement Agreement (such dispute resolutions are referred to as “NPM Adjustment Items” and are more fully described in Health Care Cost Recovery Litigation in Note 12. Contingencies ). The amounts shown in the table above for the smokeable products segment were recorded as reductions to cost of sales, which increased OCI in the smokeable products segment. ▪ Tobacco and Health and Certain Other Litigation Items: Pre-tax charges related to tobacco and health and certain other litigation items were recorded in Altria’s condensed consolidated statements of earnings (losses) as follows: For the Nine Months Ended September 30, For the Three Months Ended September 30, (in millions) 2021 2020 2021 2020 Smokeable products segment $ 72 $ 73 $ 29 $ 34 General corporate 70 — 70 — Interest and other debt expense, net 6 3 6 — Total $ 148 $ 76 $ 105 $ 34 The amounts shown in the table above for the smokeable products segment and general corporate were recorded in marketing, administration and research costs. For further discussion, see Note 12. Contingencies . ▪ COVID-19 Special Items: Net pre-tax charges of $50 million ($41 million in the smokeable products segment and $9 million in the oral tobacco products segment) related to the COVID-19 pandemic were recorded in Altria’s condensed consolidated statements of earnings (losses) for the nine months ended September 30, 2020. The net pre-tax charges, which were directly related to disruptions caused by or efforts to mitigate the impact of the COVID-19 pandemic, were all recorded in costs of sales and included premium pay, personal protective equipment and health screenings, which were partially offset by certain employment tax credits. The COVID-19 special items do not include the inventory-related implementation costs associated with the wine business strategic reset discussed below. These implementation costs were due to increased inventory levels, which were further negatively impacted by the COVID-19 pandemic, including economic uncertainty and government restrictions. ▪ Implementation, Acquisition and Disposition-Related Costs: Ste. Michelle Transaction: For the nine and three months ended September 30, 2021, pre-tax disposition-related costs of $51 million were recorded in the wine segment, which consisted of a pre-tax charge of $41 million to record the assets and liabilities associated with the Ste. Michelle Transaction at their fair value less costs to sell and $10 million of other disposition-related costs. For further discussion, see Note 3. Assets Held for Sale . Wine Business Strategic Reset : During the nine months ended September 30, 2020, Ste. Michelle recorded pre-tax implementation costs of $395 million associated with a strategic reset initiated in the first quarter of 2020 to maximize Ste. Michelle’s profitability and achieve improved long-term cash flow generation. Substantially all of the charges consisted of the following: (i) write-off of inventory ($292 million) as Ste. Michelle no longer believed that the benefit of the blending and production plans for its inventory outweighed inventory carrying cost given the reduced product volume demand; and (ii) estimated losses on future non-cancelable grape purchase commitments that Ste. Michelle believed no longer had a future economic benefit ($100 million). These charges were included in cost of sales in Altria’s condensed consolidated statements of earnings (losses). Acquisition-Related Costs : For the nine months ended September 30, 2021, Altria recorded pre-tax acquisition-related costs of $37 million in the oral tobacco products segment primarily for the settlement of an arbitration related to the 2019 on! transaction. These costs were included in marketing, administration and research costs in Altria’s condensed consolidated statements of earnings (losses). |
Debt
Debt | 9 Months Ended |
Sep. 30, 2021 | |
Debt Disclosure [Abstract] | |
Debt | Debt Short-term Borrowings and Borrowing Arrangements At September 30, 2021 and December 31, 2020, Altria had no short-term borrowings. On August 18, 2021, Altria entered into an extension and amendment (the “Extension and Amendment”) to its $3.0 billion senior unsecured 5-year revolving credit agreement (as amended, the “Credit Agreement”). The Extension and Amendment extends the maturity date of the Credit Agreement from August 1, 2023 to August 1, 2024 and amends the Credit Agreement to update certain provisions regarding a successor interest rate to the London Interbank Offered Rate (“LIBOR”) and make certain other market updates. All other terms and conditions of the Credit Agreement remain in full force and effect. The Credit Agreement, which is used for general corporate purposes, includes an additional option, subject to certain conditions, for Altria to extend the expiration date for an additional one-year period. At September 30, 2021, the Credit Agreement had available borrowings up to an aggregate principal amount of $3.0 billion. Pricing for interest and fees under the Credit Agreement may be modified in the event of a change in the rating of Altria’s long-term senior unsecured debt. Interest rates on borrowings under the Credit Agreement are expected to be based on LIBOR, or a fallback benchmark rate determined based on prevailing market convention, plus a percentage based on the higher of the ratings of Altria’s long-term senior unsecured debt from Moody’s Investors Service, Inc. (“Moody’s”) and Standard & Poor’s Financial Services LLC (“S&P”). The applicable percentage based on Altria’s long-term senior unsecured debt ratings at September 30, 2021 for borrowings under the Credit Agreement was 1.0%. The Credit Agreement does not include any other rating triggers, or any provisions that could require the posting of collateral. The Credit Agreement includes various covenants, one of which requires Altria to maintain a ratio of consolidated earnings before interest, taxes, depreciation and amortization (“EBITDA”) to Consolidated Interest Expense of not less than 4.0 to 1.0, calculated as of the end of the applicable quarter on a rolling four quarters basis. At September 30, 2021, the ratio of consolidated EBITDA to Consolidated Interest Expense, calculated in accordance with the Credit Agreement, was 9.8 to 1.0. At September 30, 2021, Altria was in compliance with its covenants in the Credit Agreement. The terms “Consolidated EBITDA” and “Consolidated Interest Expense,” each as defined in the Credit Agreement, include certain adjustments. In March 2020, due to the uncertainty at that time in the global capital markets, including the commercial paper markets, resulting from the COVID-19 pandemic, Altria elected to borrow the full $3.0 billion available under the Credit Agreement as a precautionary measure to increase its cash position and preserve financial flexibility. In June 2020, Altria repaid the full amount outstanding under the Credit Agreement using the net proceeds from the issuance of long-term senior unsecured notes issued in May 2020 and available cash. Any commercial paper issued by Altria and borrowings under the Credit Agreement are guaranteed by PM USA. Long-term Debt The aggregate carrying value of Altria’s total long-term debt at September 30, 2021 and December 31, 2020 was $28.1 billion and $29.5 billion, respectively. In May 2021, Altria repaid in full senior unsecured notes in the aggregate principal amount of $1.5 billion at maturity. In February 2021, Altria issued long-term senior unsecured notes in the aggregate principal amount of $5.5 billion (the “Notes”). The net proceeds from the Notes were used (i) to fund the purchase and redemption of certain unsecured notes and payment of related fees and expenses, as described below, and (ii) for other general corporate purposes. The Notes contain the following terms: ▪ $1.75 billion at 2.450%, due 2032, interest payable semiannually beginning August 4, 2021; ▪ $1.50 billion at 3.400%, due 2041, interest payable semiannually beginning August 4, 2021; ▪ $1.25 billion at 3.700%, due 2051, interest payable semiannually beginning August 4, 2021; and ▪ $1.00 billion at 4.000%, due 2061, interest payable semiannually beginning August 4, 2021. The Notes are Altria’s senior unsecured obligations and rank equally in right of payment with all of Altria’s existing and future senior unsecured indebtedness. Upon the occurrence of both (i) a change of control of Altria and (ii) the Notes ceasing to be rated investment grade by each of Moody’s, S&P and Fitch Ratings, Inc. within a specified time period, Altria will be required to make an offer to purchase the Notes at a price equal to 101% of the aggregate principal amount of such Notes, plus accrued and unpaid interest to the date of repurchase as and to the extent set forth in the terms of the Notes. The obligations of Altria under the Notes are guaranteed by PM USA. During the first quarter of 2021, Altria completed debt tender offers to purchase for cash certain of its long-term senior unsecured notes in an aggregate principal amount of $4,042 million. Details of the debt tender offers are as follows: (in millions) Principal Amount of Notes Purchased 2.850% Notes due 2022 $ 795 2.950% Notes due 2023 132 4.000% Notes due 2024 624 3.800% Notes due 2024 655 4.400% Notes due 2026 430 4.800% Notes due 2029 1,094 9.950% Notes due 2038 65 10.200% Notes due 2039 18 6.200% Notes due 2059 229 $ 4,042 During the first quarter of 2021, Altria also redeemed all of its outstanding 3.490% Notes due 2022 in an aggregate principal amount of $1.0 billion. As a result of the debt tender offers and redemption, during the first quarter of 2021, Altria recorded pre-tax losses on early extinguishment of debt of $649 million, which included premiums and fees of $623 million and the write-off of related unamortized debt discounts and debt issuance costs of $26 million. At September 30, 2021 and December 31, 2020, accrued interest on long-term debt of $206 million and $458 million, respectively, was included in other accrued liabilities on Altria’s condensed consolidated balance sheets. For a discussion of the fair value of Altria’s long-term debt and the designation of its Euro denominated senior unsecured notes as a net investment hedge of its investment in ABI, see Note 5. Financial Instruments . |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2021 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes Earnings (losses) before income taxes, provision (benefit) for income taxes and income tax rates consisted of the following: For the Nine Months Ended September 30, For the Three Months Ended September 30, (in millions) 2021 2020 2021 2020 Earnings (losses) before income taxes $ 1,544 $ 4,349 $ (3,302) $ (324) Provision (benefit) for income taxes 693 1,817 (582) 632 Income tax rate 44.9 % 41.8 % 17.6 % (195.1) % Altria’s income tax rates for the nine and three months ended September 30, 2021 and 2020 are not comparable in a meaningful way due to the following significant pre-tax charges and valuation allowances: ▪ the $6,157 million impairment of Altria’s equity investment in ABI during the nine and three months ended September 30, 2021; and ▪ the $2,600 million impairment of Altria’s investment in JUUL during the nine and three months ended September 30, 2020 and valuation allowances associated with Altria’s investments in JUUL and Altria’s Investment in Cronos. Altria’s income tax rates for the nine and three months ended September 30, 2021 differ from the U.S. federal statutory rate of 21%, due primarily to the state tax treatment of the impairment charge on Altria’s equity investment in ABI. Altria’s income tax rates for the nine and three months ended September 30, 2020 differ from the U.S. federal statutory rate of 21%, due primarily to valuation allowances primarily attributable to deferred tax assets recorded in connection with the impairment of Altria’s investment in JUUL, and Altria’s Investment in Cronos. For further information on the impairments of Altria’s equity investment in ABI and investment in JUUL, see Note 4 . Investments in Equity Securities . The following chart provides a reconciliation of the beginning and ending valuation allowances for the period ended September 30, 2021: (in millions) Balance at beginning of year $ 2,817 Additions to valuation allowance charged to income tax expense 264 Reductions to valuation allowance credited to income tax benefit (73) Foreign currency translation (4) Balance at end of period $ 3,004 Altria determines the realizability of deferred tax assets based on the weight of available evidence, that it is more-likely-than-not that the deferred tax asset will not be realized. In reaching this determination, Altria considers all available positive and negative evidence, including the character of the loss, carryback and carryforward considerations, future reversals of temporary differences and available tax planning strategies. The current changes in valuation allowances were due to deferred tax assets recorded in connection with Altria’s Investment in Cronos and changes in the estimated fair value of its investment in JUUL. The valuation allowance at the end of the period is primarily attributable to deferred tax assets recorded in connection with Altria’s investment in JUUL and Investment in Cronos. |
Contingencies
Contingencies | 9 Months Ended |
Sep. 30, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Contingencies | Contingencies Legal proceedings covering a wide range of matters are pending or threatened in various U.S. and foreign jurisdictions against Altria and its subsidiaries, including PM USA and USSTC, as well as their respective indemnitees and Altria’s investees. Various types of claims may be raised in these proceedings, including product liability, unfair trade practices, antitrust, tax, contraband shipments, patent infringement, employment matters, claims alleging violation of the Racketeer Influenced and Corrupt Organizations Act (“RICO”), claims for contribution and claims of competitors, shareholders or distributors. Legislative action, such as changes to tort law, also may expand the types of claims and remedies available to plaintiffs. Litigation is subject to uncertainty and it is possible that there could be adverse developments in pending or future cases. An unfavorable outcome or settlement of pending tobacco-related or other litigation could encourage the commencement of additional litigation. Damages claimed in some tobacco-related and other litigation are or can be significant and, in certain cases, have ranged in the billions of dollars. The variability in pleadings in multiple jurisdictions, together with the actual experience of management in litigating claims, demonstrate that the monetary relief that may be specified in a lawsuit bears little relevance to the ultimate outcome. In certain cases, plaintiffs claim that defendants’ liability is joint and several. In such cases, Altria or its subsidiaries may face the risk that one or more co-defendants decline or otherwise fail to participate in the bonding required for an appeal or to pay their proportionate or jury-allocated share of a judgment. As a result, Altria or its subsidiaries under certain circumstances may have to pay more than their proportionate share of any bonding- or judgment-related amounts. Furthermore, in those cases where plaintiffs are successful, Altria or its subsidiaries also may be required to pay interest and attorneys’ fees. Although PM USA has historically been able to obtain required bonds or relief from bonding requirements in order to prevent plaintiffs from seeking to collect judgments while adverse verdicts have been appealed, there remains a risk that such relief may not be obtainable in all cases. This risk has been substantially reduced given that 47 states and Puerto Rico limit the dollar amount of bonds or require no bond at all. As discussed below, however, tobacco litigation plaintiffs have challenged the constitutionality of Florida’s bond cap statute in several cases and plaintiffs may challenge state bond cap statutes in other jurisdictions as well. Such challenges may include the applicability of state bond caps in federal court. States, including Florida, also may seek to repeal or alter bond cap statutes through legislation. Although Altria cannot predict the outcome of such challenges, it is possible that the consolidated results of operations, cash flows or financial position of Altria, or one or more of its subsidiaries, could be materially affected in a particular fiscal quarter or fiscal year by an unfavorable outcome of one or more such challenges. Altria and its subsidiaries record provisions in the condensed consolidated financial statements for pending litigation when they determine that an unfavorable outcome is probable and the amount of the loss can be reasonably estimated. At the present time, while it is reasonably possible that an unfavorable outcome in a case may occur, except to the extent discussed elsewhere in this Note 12. Contingencies : (i) management has concluded that it is not probable that a loss has been incurred in any of the pending cases; (ii) management is unable to estimate the possible loss or range of loss that could result from an unfavorable outcome in any of the pending cases; and (iii) accordingly, management has not provided any amounts in the condensed consolidated financial statements for unfavorable outcomes, if any. Litigation defense costs are expensed as incurred. Altria and its subsidiaries have achieved substantial success in managing litigation. Nevertheless, litigation is subject to uncertainty and significant challenges remain. It is possible that the consolidated results of operations, cash flows or financial position of Altria, or one or more of its subsidiaries, could be materially affected in a particular fiscal quarter or fiscal year by an unfavorable outcome or settlement of certain pending litigation. Altria and each of its subsidiaries named as a defendant believe, and each has been so advised by counsel handling the respective cases, that it has valid defenses to the litigation pending against it, as well as valid bases for appeal of adverse verdicts. Each of the companies has defended, and will continue to defend, vigorously against litigation challenges. However, Altria and its subsidiaries may enter into settlement discussions in particular cases if they believe it is in the best interests of Altria to do so. Judgments Paid and Provisions for Tobacco and Health and Certain Other Litigation Items (Including Engle Progeny Litigation): After exhausting all appeals in those cases resulting in adverse verdicts associated with tobacco-related litigation, since October 2004, PM USA has paid judgments and settlements (including related costs and fees) totaling approximately $865 million and interest totaling approximately $218 million as of September 30, 2021. These amounts include payments for Engle progeny judgments (and related costs and fees) totaling approximately $410 million and related interest totaling approximately $56 million. The changes in Altria’s accrued liability for tobacco and health and certain other litigation items, including related interest costs, for the periods specified below are as follows: For the Nine Months Ended September 30, For the Three Months Ended September 30, (in millions) 2021 2020 2021 2020 Accrued liability for tobacco and health and certain other litigation items at beginning of period $ 9 $ 14 $ — $ 22 Pre-tax charges for: Tobacco and health and certain other litigation (1) 142 73 99 34 Related interest costs 6 3 6 — Payments (1) (60) (81) (8) (47) Accrued liability for tobacco and health and certain other litigation items at end of period $ 97 $ 9 $ 97 $ 9 (1) Includes amounts related to certain other litigation and pre-trial resolution of certain tobacco and health cases. The accrued liability for tobacco and health and certain other litigation items, including related interest costs, was included in accrued liabilities on Altria’s condensed consolidated balance sheets. Pre-tax charges for tobacco and health and certain other litigation were included in marketing, administration and research costs on Altria’s condensed consolidated statements of earnings (losses). Pre-tax charges for related interest costs were included in interest and other debt expense, net on Altria’s condensed consolidated statements of earnings (losses). Security for Judgments: To obtain stays of judgments pending appeal, PM USA has posted various forms of security. As of September 30, 2021, PM USA has posted appeal bonds totaling approximately $45 million, which have been collateralized with restricted cash that are included in assets on the condensed consolidated balance sheets. Overview of Altria and/or PM USA Tobacco-Related Litigation Types and Number of U.S. Cases: Claims related to tobacco products generally fall within the following categories: (i) smoking and health cases alleging personal injury brought on behalf of individual plaintiffs; (ii) health care cost recovery cases brought by governmental (both domestic and foreign) plaintiffs seeking reimbursement for health care expenditures allegedly caused by cigarette smoking and/or disgorgement of profits; (iii) e-vapor cases alleging violation of RICO, fraud, failure to warn, design defect, negligence, antitrust and unfair trade practices; and (iv) other tobacco-related litigation described below. Plaintiffs’ theories of recovery and the defenses raised in tobacco-related litigation are discussed below. The table below lists the number of certain tobacco-related cases pending in the U.S. against PM USA and/or Altria as of October 25, 2021, October 27, 2020 and October 28, 2019: October 25, 2021 October 27, 2020 October 28, 2019 Individual Smoking and Health Cases (1) 179 142 95 Health Care Cost Recovery Actions (2) 1 1 1 E-vapor Cases (3) 2,951 1,145 — Other Tobacco-Related Cases (4) 3 4 4 (1) Includes 18 cases filed in Illinois, 17 cases filed in New Mexico, 40 cases filed in Massachusetts and 70 non- Engle cases filed in Florida. Does not include individual smoking and health cases brought by or on behalf of plaintiffs in Florida state and federal courts following the decertification of the Engle case (these Engle progeny cases are discussed below in Smoking and Health Litigation - Engle Class Action ). Also does not include 1,471 cases brought by flight attendants seeking compensatory damages for personal injuries allegedly caused by exposure to environmental tobacco smoke (“ETS”). The flight attendants allege that they are members of an ETS smoking and health class action in Florida, which was settled in 1997 ( Broin ). The terms of the court-approved settlement in that case allowed class members to file individual lawsuits seeking compensatory damages, but prohibited them from seeking punitive damages. Class members were prohibited from filing individual lawsuits after 2000 under the court-approved settlement. (2) See Health Care Cost Recovery Litigation - Federal Government’s Lawsuit below. (3) Includes 53 class action lawsuits, 2,548 individual lawsuits and 350 “third party” lawsuits relating to JUUL e-vapor products, which include school districts, state and local government, tribal and healthcare organization lawsuits. JUUL is an additional named defendant in each of these lawsuits. The 53 class action lawsuits include 28 cases in the Northern District of California (“Multidistrict Litigation” or “MDL”) involving plaintiffs whose claims were previously included in other class action complaints but were refiled as separate stand-alone class actions for procedural and other reasons. (4) Includes one inactive smoking and health case alleging personal injury and purporting to be brought on behalf of a class of individual plaintiffs and two inactive class action lawsuits alleging that use of the terms “Lights” and “Ultra Lights” constitute deceptive and unfair trade practices, common law or statutory fraud, unjust enrichment, breach of warranty or violations of RICO. International Tobacco-Related Cases: As of October 25, 2021, (i) Altria is named as a defendant in three e-vapor class action lawsuits in Canada; (ii) PM USA is a named defendant in 10 health care cost recovery actions in Canada, eight of which also name Altria as a defendant; and (iii) PM USA and Altria are named as defendants in seven smoking and health class actions filed in various Canadian provinces. See Guarantees and Other Similar Matters below for a discussion of the Distribution Agreement between Altria and Philip Morris International Inc. (“PMI”) that provides for indemnities for certain liabilities concerning tobacco products. Tobacco-Related Cases Set for Trial: As of October 25, 2021, no Engle progeny or individual smoking and health cases against PM USA are set for trial through December 31, 2021. Trial dates are subject to change and many of the trials were postponed due to the COVID-19 pandemic; however, the courts are reopening and additional trials may be scheduled for the remainder of 2021. Trial Results: Since January 1999, excluding the Engle progeny cases (separately discussed below), verdicts have been returned in 69 tobacco-related cases in which PM USA was a defendant. Verdicts in favor of PM USA and other defendants were returned in 44 of the 69 cases. These 44 cases were tried in Alaska (1), California (7), Connecticut (1), Florida (10), Louisiana (1), Massachusetts (4), Mississippi (1), Missouri (4), New Hampshire (1), New Jersey (1), New York (5), Ohio (2), Pennsylvania (1), Rhode Island (1), Tennessee (2) and West Virginia (2). Of the 25 non- Engle progeny cases in which verdicts were returned in favor of plaintiffs, 20 have reached final resolution, and two cases ( Gentile and Principe ) that were initially returned in favor of plaintiffs were reversed post-trial and remain pending. See Smoking and Health Liti gation - Engle Progeny Trial Results below for a discussion of verdicts in state and federal Engle progeny cases involving PM USA as of October 25, 2021. Smoking and Health Litigation Overview: Plaintiffs’ allegations of liability in smoking and health cases are based on various theories of recovery, including negligence, gross negligence, strict liability, fraud, misrepresentation, design defect, failure to warn, nuisance, breach of express and implied warranties, breach of special duty, conspiracy, concert of action, violations of unfair trade practice laws and consumer protection statutes, and claims under the federal and state anti-racketeering statutes. Plaintiffs in the smoking and health cases seek various forms of relief, including compensatory and punitive damages, treble/multiple damages and other statutory damages and penalties, creation of medical monitoring and smoking cessation funds, disgorgement of profits, and injunctive and equitable relief. Defenses raised in these cases include lack of proximate cause, assumption of the risk, comparative fault and/or contributory negligence, statutes of limitations and preemption by the Federal Cigarette Labeling and Advertising Act. Non- Engle Progeny Litigation: Summarized below are the non- Engle progeny smoking and health cases pending during 2021 in which a verdict was returned in favor of plaintiff and against PM USA. Charts listing certain verdicts for plaintiffs in the Engle progeny cases can be found in Smoking and Health Litigation - Engle Progeny Trial Results below. Principe : In February 2020, a jury in a Florida state court returned a verdict in favor of plaintiff and against PM USA, awarding approximately $11 million in compensatory damages. There was no claim for punitive damages. PM USA appealed the trial court verdict to the Third District Court of Appeal and, in September 2021, the appellate court reversed the trial court’s decision and found in favor of PM USA. Greene : In September 2019, a jury in a Massachusetts state court returned a verdict in favor of plaintiffs and against PM USA, awarding approximately $10 million in compensatory damages. In May 2020, the court ruled on plaintiffs’ remaining claim and trebled the compensatory damages award to approximately $30 million. In February 2021, the trial court awarded plaintiffs attorneys’ fees and costs in the amount of approximately $2.3 million. Also in February 2021, PM USA served its post-trial motions to reverse the judgment or for a new trial. The trial court denied the post-trial motions in June 2021. In July 2021, PM USA appealed the judgment to the Appeals Court of Massachusetts. Laramie : In August 2019, a jury in a Massachusetts state court returned a verdict in favor of plaintiff and against PM USA, awarding $11 million in compensatory damages and $10 million in punitive damages. PM USA appealed and, in February 2021, the Massachusetts Supreme Judicial Court asserted jurisdiction over the appeal. In September 2021, the Massachusetts Supreme Judicial Court affirmed the trial court award of $21 million in compensatory and punitive damages. PM USA recorded a pre-tax provision of approximately $27.1 million for the judgment, including interest, in the third quarter of 2021. Gentile : In October 2017, a jury in a Florida state court returned a verdict in favor of plaintiff and against PM USA, awarding approximately $7.1 million in compensatory damages and allocating 75% of the fault to PM USA. PM USA appealed. In September 2019, the Florida Fourth District Court of Appeal reversed the judgment entered by the trial court, granted PM USA judgment on certain claims and remanded for a new trial on the remaining claims. Plaintiff petitioned the Florida Supreme Court for further review, which the court denied in January 2021. Federal Government’s Lawsuit : See Health Care Cost Recovery Litigation - Federal Government’s Lawsuit below for a discussion of the verdict and post-trial developments in the United States of America health care cost recovery case. Engle Class Action: In July 2000, in the second phase of the Engle smoking and health class action in Florida, a jury returned a verdict assessing punitive damages totaling approximately $145 billion against various defendants, including $74 billion against PM USA. Following entry of judgment, PM USA appealed. In May 2003, the Florida Third District Court of Appeal reversed the judgment entered by the trial court and instructed the trial court to order the decertification of the class. Plaintiffs petitioned the Florida Supreme Court for further review. In July 2006, the Florida Supreme Court ordered that the punitive damages award be vacated, that the class approved by the trial court be decertified and that members of the decertified class could file individual actions against defendants within one year of issuance of the mandate. The court further declared the following Phase I findings are entitled to res judicata effect in such individual actions brought within one year of the issuance of the mandate: (i) that smoking causes various diseases; (ii) that nicotine in cigarettes is addictive; (iii) that defendants’ cigarettes were defective and unreasonably dangerous; (iv) that defendants concealed or omitted material information not otherwise known or available knowing that the material was false or misleading or failed to disclose a material fact concerning the health effects or addictive nature of smoking; (v) that defendants agreed to misrepresent information regarding the health effects or addictive nature of cigarettes with the intention of causing the public to rely on this information to their detriment; (vi) that defendants agreed to conceal or omit information regarding the health effects of cigarettes or their addictive nature with the intention that smokers would rely on the information to their detriment; (vii) that all defendants sold or supplied cigarettes that were defective; and (viii) that defendants were negligent. In August 2006, PM USA and plaintiffs sought rehearing from the Florida Supreme Court on parts of its July 2006 opinion. In December 2006, the Florida Supreme Court refused to revise its July 2006 ruling, except that it revised the set of Phase I findings entitled to res judicata effect by excluding finding (v) listed above (relating to agreement to misrepresent information), and added the finding that defendants sold or supplied cigarettes that, at the time of sale or supply, did not conform to the representations of fact made by defendants. In February 2008, the trial court decertified the class. Pending Engl e Progeny Cases: The deadline for filing Engle progeny cases expired in January 2008, at which point a total of approximately 9,300 federal and state claims were pending. As of October 25, 2021, approximately 1,026 state court cases were pending against PM USA or Altria asserting individual claims by or on behalf of approximately 1,285 state court plaintiffs. Because of a number of factors, including docketing delays, duplicated filings and overlapping dismissal orders, these numbers are estimates. While the Federal Engle Agreement (discussed below) resolved nearly all Engle progeny cases pending in federal court, as of October 25, 2021, two cases were pending against PM USA in federal court representing the cases excluded from that agreement. Engle Progeny Trial Results: As of October 25, 2021, 137 federal and state Engle progeny cases involving PM USA have resulted in verdicts since the Florida Supreme Court Engle decision. Seventy-six verdicts were returned in favor of plaintiffs and seven verdicts ( Skolnick , Calloway , Oshinsky-Blacker, McCoy, Mahfuz, Neff and Frogel ) that were initially returned in favor of plaintiffs were reversed post-trial or on appeal and remain pending. Fifty-four verdicts were returned in favor of PM USA, of which 44 were state cases. In addition, there have been a number of mistrials, only some of which have resulted in new trials as of October 25, 2021. The jury in one case, Garcia , awarded plaintiff compensatory damages and found plaintiff was entitled to punitive damages; however, the court declared a mistrial in the second phase of the trial regarding punitive damages because the jury was unable to determine the amount of the punitive damages. Four verdicts ( Pearson, D. Cohen , Collar and Chacon ) that were returned in favor of PM USA were subsequently reversed for new trials. Juries in two cases ( Reider and Banks ) returned zero damages verdicts in favor of PM USA . Juries in two other cases ( Weingart and Hancock ) returned verdicts against PM USA awarding no damages, but the trial court in each case decided to award plaintiffs damages. One case, Pollari, resulted in a verdict in favor of PM USA following a retrial of an initial verdict returned in favor of plaintiff. Plaintiff and defendants appealed the verdict and the appellate court affirmed the judgement in favor of the defendants. Three cases, Gloger, Rintoul ( Caprio ) and Duignan , resulted in verdicts in favor of plaintiffs following retrial of initial verdicts returned in favor of plaintiffs. Post-trial appeals are pending in those three cases. Two cases, Freeman and Harris , resulted in an appellate reversal of a jury verdict in favor of plaintiff, and a judgment in favor of PM USA. The charts below list the verdicts and post-trial developments in certain Engle progeny cases in which verdicts were returned in favor of plaintiffs. The first chart lists cases that are pending as of October 25, 2021 but where PM USA has determined an unfavorable outcome is not probable and the amount of loss cannot be reasonably estimated. The second chart lists cases that have concluded within the previous 12 months. Unless otherwise noted for a particular case, the jury’s award for compensatory damages will not be reduced by any finding of plaintiff’s comparative fault. Further, the damages noted reflect adjustments based on post-trial or appellate rulings. As of October 25, 2021, there are no Engle progeny cases where PM USA has recorded a provision in its condensed consolidated financial statements because PM USA has not determined for any currently pending case that an unfavorable outcome is probable and the amount of the loss can be reasonably estimated. References below to “R.J. Reynolds,” “Lorillard” and “Liggett Group” are to R.J. Reynolds Tobacco Company, Lorillard Tobacco Company and Liggett Group, LLC, respectively. Currently Pending Engle Cases with Verdicts Against PM USA (rounded to nearest $ million) Plaintiff Verdict Date Defendant(s) Court Compensatory Damages (1) Punitive Damages Appeal Status Lipp September 2021 PM USA Miami-Dade $15 million $28 million Defendant’s post-trial motions denied. Defendant plans to appeal. Garcia May 2021 PM USA Miami-Dade $3 million Mistrial Appeal by defendant to Third District Court of Appeal pending. Duignan February 2020 (2) PM USA and R.J. Reynolds Pinellas $3 million $12 million Appeal by defendants to Second District Court of Appeal pending. Cuddihee January 2020 PM USA Duval $3 million $0 Appeal by defendant to First District Court of Appeal pending. Rintoul ( Caprio ) November 2019 (2) PM USA and R.J. Reynolds Broward $9 million $74 million Appeal by plaintiff and defendants to Fourth District Court of Appeal pending. Gloger November 2019 (2) PM USA and R.J. Reynolds Miami-Dade $15 million $11 million Appeal by defendants to Third District Court of Appeal pending. McCall March 2019 PM USA Broward <$1 million (<$1 million PM USA) $0 New trial ordered on punitive damages. Neff March 2019 PM USA and R.J. Reynolds Broward $4 million $2 million Fourth District Court of Appeal reversed the judgment against defendants and remanded for a new trial. Plaintiff's motion for rehearing was denied. Plaintiff Verdict Date Defendant(s) Court Compensatory Damages (1) Punitive Damages Appeal Status Mahfuz February 2019 PM USA and R.J. Reynolds Broward $12 million $10 million Fourth District Court of Appeal reversed the judgment against defendants and remanded for a new trial. Plaintiff's motion for rehearing was denied. Holliman February 2019 PM USA Miami-Dade $3 million $0 Defendant’s appeal to Third District Court of Appeal pending. Chadwell September 2018 PM USA Miami-Dade $2 million $0 Third District Court of Appeal affirmed the compensatory damages award. PM USA petitioned Florida Supreme Court for review. Case stayed pending Florida Supreme Court decision in Prentice . (3) Kaplan July 2018 PM USA and R.J. Reynolds Broward $2 million $2 million Fourth District Court of Appeal affirmed the verdict and reaffirmed the verdict on rehearing. Defendants sought review of the decision before the Florida Supreme Court and the court stayed the case pending its decision in Sheffield . (3) R. Douglas November 2017 PM USA Duval <$1 million $0 Awaiting entry of final judgment by the trial court. Sommers April 2017 PM USA Miami-Dade $1 million $0 Third District Court of Appeal affirmed compensatory damages award and granted new trial on punitive damages. Florida Supreme Court denied PM USA’s petition for review of the Third District Court of Appeal’s decision. PM USA paid approximately $1 million for the compensatory damages award and awaits the new trial on punitive damages. (4) The trial court stayed the new trial on punitive damages pending Florida Supreme Court’s decision in Sheffield . (3) Cooper (Blackwood) September 2015 PM USA and R.J. Reynolds Broward $5 million (<$1 million PM USA) $0 Fourth District Court of Appeal affirmed judgment and granted a new trial on punitive damages. D. Brown January 2015 PM USA Federal Court - Middle District of Florida $8 million $9 million Appeal by defendant to U.S. Court of Appeals for the Eleventh Circuit stayed pending Florida Supreme Court decision in Prentice . (3) (1) PM USA’s portion of the compensatory damages award is noted parenthetically where the court has ruled that comparative fault applies. (2) Plaintiff’s verdict following a retrial of an initial verdict in favor of plaintiff. (3) PM USA is not a defendant in Prentice or Sheffield . Prentice and Sheffield are discussed below in Engle Progeny Appellate Issues . (4) Plaintiff was granted an award of approximately $3 million in fees, costs and interest that PM USA appealed. The Florida Third District Court of Appeals affirmed the award and PM USA paid the award amount in March 2021. Engle Cases Concluded Within Past 12 Months (1) (rounded to nearest $ million) Plaintiff Verdict Date Defendant(s) Court Accrual Date Payment Amount Payment Date Berger (Cote) September 2014 PM USA Federal Court - Middle District of Florida Fourth quarter of 2018 and first quarter of 2021 $29 million February 2021 Santoro March 2017 PM USA, R.J. Reynolds and Liggett Group Broward Second quarter of 2020 and first quarter of 2021 $1 million January 2021 (1) In six cases in which PM USA paid the judgments more than a year ago, Naugle, Gore , M. Brown, Jordan, Theis and Landi , plaintiffs were awarded approximately $8 million, $2 million, $8 million, $4 million, $1 million and $3 million in fees and costs, respectively. PM USA has appealed in all of these cases, except Theis and Landi . In M. Brown , in March 2021 the Florida First District Court of Appeals affirmed the fee award and reversed the pre-judgment interest award and, in April 2021, PM USA paid $8.2 million in satisfaction of the fee award and post-judgment interest. In Theis , PM USA paid $1 million in satisfaction of fees and costs in May 2021 and, in Landi , PM USA paid approximately $1.5 million in satisfaction of fees, costs and interest in July 2021 (R.J. Reynolds paid approximately $1.5 million of the approximately $3 million award). Engle Progeny Appellate Issues: The Florida appellate courts are considering the following appeals which may have wide application to other Engle progeny cases: In Mary Sheffield v. R.J. Reynolds Tobacco Company , an Engle progeny case against R.J. Reynolds only, the Florida Supreme Court has taken jurisdiction to resolve the conflict among Florida’s District Courts of Appeal over whether the 1999 amendments to Florida’s punitive damages statute (including its caps and bar on multiple punitive damages awards for the same course of conduct) apply in wrongful death cases where the decedent was injured prior to the October 1, 1999 effective date of the amendments but died from his or her injuries after such effective date. Oral argument was held before the Florida Supreme Court in April 2021; a decision has not yet been issued. In Linda Prentice v. R.J. Reynolds Tobacco Company , an Engle progeny case against R.J. Reynolds only, the Florida First District Court of Appeal in January 2020 reversed a judgment in favor of the plaintiff and remanded for a new trial. The court held that the trial court had erred by failing to instruct the jury that in order to prevail on her claim for conspiracy to commit fraudulent concealment, the plaintiff was required to prove that her decedent relied to his detriment on a statement that concealed or omitted material information about the health risks of smoking. That holding conflicts with decisions from the Second, Third, and Fourth District Courts of Appeal, which have each held that Engle plaintiffs do not need to prove reliance on a statement, and instead can prevail by proving reliance on the Engle defendants’ concealment of information. In August 2020, the Florida Supreme Court accepted jurisdiction in the case. As an alternative ground to approve the First District Court of Appeal’s decision in its favor in Prentice , R.J. Reynolds has asked the Florida Supreme Court to reconsider its prior decisions giving the Engle Phase I findings preclusive effect in Engle progeny cases, as described more fully in the section Engle Class Action above. Oral argument was held before the Florida Supreme Court in June 2021; a decision has not yet been issued. Florida Bond Statute: In June 2009, Florida amended its existing bond cap statute by adding a $200 million bond cap that applies to all state Engle progeny lawsuits in the aggregate and establishes individual bond caps for individual Engle progeny cases in amounts that vary depending on the number of judgments in effect at a given time. Plaintiffs have been unsuccessful in various challenges to the bond cap statute in Florida state court. No federal court has yet addressed the constitutionality of the bond cap statute or the applicability of the bond cap to Engle progeny cases tried in federal court. From time to time, legislation has been presented to the Florida legislature that would repeal the bond cap statute; however to date, no legislation repealing the statute has passed. Other Smoking and Health Class Actions: Since the dismissal in May 1996 of a purported nationwide class action brought on behalf of allegedly addicted smokers, plaintiffs have filed numerous putative smoking and health class action suits in various state and federal courts. In general, these cases purport to be brought on behalf of residents of a particular state or states (although a few cases purport to be nationwide in scope) and raise addiction claims and, in many cases, claims of physical injury as well. Class certification has been denied or reversed by courts in 61 smoking and health class actions involving PM USA in Arkansas (1), California (1), Delaware (1), the District of Columbia (2), Florida (2), Illinois (3), Iowa (1), Kansas (1), Louisiana (1), Maryland (1), Michigan (1), Minnesota (1), Nevada (29), New Jersey (6), New York (2), Ohio (1), Oklahoma (1), Oregon (1), Pennsylvania (1), Puerto Rico (1), South Carolina (1), Texas (1) and Wisconsin (1). See Certain Other Tobacco-Related Litigation below for a discussion of “Lights” and “Ultra Lights” class action cases and medical monitoring class action cases pending against PM USA. As of October 25, 2021, PM USA and Altria are named as defendants, along with other cigarette manufacturers, in seven class actions filed in the Canadian provinces of Alberta, Manitoba, Nova Scotia, Sask |
New Accounting Guidance Not Yet
New Accounting Guidance Not Yet Adopted | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Standards Update and Change in Accounting Principle [Abstract] | |
New Accounting Guidance Not Yet Adopted | New Accounting Guidance Not Yet Adopted The following table provides a description of issued accounting guidance applicable to, but not yet adopted by, Altria: Standards Description Effective Date for Public Entity Effect on Financial Statements ASU 2020-06 Accounting for Convertible Instruments and Contracts in an Entity ’ s Own Equity The guidance simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts in an entity’s own equity. Key provisions of the guidance include reducing the number of accounting models, simplifying the earnings per share calculations and expanding the disclosures related to convertible instruments. The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2021. Altria’s adoption of this guidance is not expected to have a material impact on its consolidated financial statements and related disclosures. |
Background and Basis of Prese_2
Background and Basis of Presentation (Policies) | 9 Months Ended |
Sep. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Investment, Policy | Altria accounts for its investments in ABI and Cronos under the equity method of accounting using a one-quarter lag. Altria accounts for its equity investment in JUUL under the fair value option. |
Basis of Presentation, Policy | The interim condensed consolidated financial statements of Altria are unaudited. It is the opinion of Altria’s management that all adjustments necessary for a fair statement of the interim results presented have been reflected in the interim condensed consolidated financial statements. All such adjustments were of a normal recurring nature. Net revenues and net earnings for any interim period are not necessarily indicative of results that may be expected for the entire year. |
New Accounting Pronouncements, Policy | On January 1, 2021, Altria adopted Accounting Standards Update (“ASU”) 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU No. 2019-12”). This guidance removes certain exceptions for investments, intraperiod allocations and interim calculations, and adds guidance to reduce complexity in accounting for income taxes. The adoption of ASU No. 2019-12 did not have a material impact on Altria’s condensed consolidated financial statements. Additionally, on January 1, 2021, Altria adopted ASU No. 2020-01, Investments - Equity Securities (Topic 321), Investments - Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815): Clarifying the Interactions between Topic 321, Topic 323, and Topic 815 (“ASU No. 2020-01”). This guidance provides clarification of the interaction of rules for equity securities, the equity method of accounting, and forward contracts and purchase options on certain types of securities. The adoption of ASU No. 2020-01 did not have a material impact on Altria’s condensed consolidated financial statements. For a description of issued accounting guidance applicable to, but not yet adopted by, Altria, see Note 13. New Accounting Guidance Not Yet Adopted . Standards Description Effective Date for Public Entity Effect on Financial Statements ASU 2020-06 Accounting for Convertible Instruments and Contracts in an Entity ’ s Own Equity The guidance simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts in an entity’s own equity. Key provisions of the guidance include reducing the number of accounting models, simplifying the earnings per share calculations and expanding the disclosures related to convertible instruments. The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2021. Altria’s adoption of this guidance is not expected to have a material impact on its consolidated financial statements and related disclosures. |
Cash Discounts | In 2020, a majority of Altria’s businesses offered cash discounts to customers for prompt payment and calculated cash discounts as a percentage of the list price based on historical experience and agreed-upon payment terms. Beginning in the first quarter of 2021 for USSTC and the third quarter of 2021 for PM USA, cash discounts were calculated as a flat rate per unit, based on agreed-upon payment terms. Altria’s businesses record receivables net of the cash discounts on Altria’s condensed consolidated balance sheets. |
Equity Method Investments | Altria accounts for its investment in ABI under the equity method of accounting because Altria has the ability to exercise significant influence over the operating and financial policies of ABI, including having active representation on ABI’s board of directors and certain ABI board committees. Through this representation, Altria participates in ABI policy making processes. Altria reports its share of ABI’s results using a one-quarter lag because ABI’s results are not available in time for Altria to record them in the concurrent period. The fair value of Altria’s equity investment in ABI is based on (i) unadjusted quoted prices in active markets for ABI’s ordinary shares and was classified in Level 1 of the fair value hierarchy and (ii) observable inputs other than Level 1 prices, such as quoted prices for similar assets for the Restricted Shares, and was classified in Level 2 of the fair value hierarchy. Altria can convert its Restricted Shares to ordinary shares at its discretion. Therefore, the fair value of each Restricted Share is based on the value of an ordinary share. In October 2019, the fair value of Altria’s equity investment in ABI declined below its carrying value and has not recovered. At December 31, 2020, the fair value of Altria’s equity investment in ABI was $13.8 billion (carrying value of $16.7 billion), which was less than its carrying value by approximately 17%. In preparing its financial statements for the period ended December 31, 2020, Altria evaluated the factors related to the fair value decline, including the impact on the fair value of ABI’s shares during the COVID-19 pandemic, which has negatively impacted ABI’s business. Altria evaluated the duration and magnitude of the fair value decline, ABI’s financial condition and near-term prospects and Altria’s intent and ability to hold its |
Environmental Regulation | Altria and its subsidiaries (and former subsidiaries) are subject to various federal, state and local laws and regulations concerning the discharge of materials into the environment, or otherwise related to environmental protection, including, in the U.S.: the Clean Air Act, the Clean Water Act, the Resource Conservation and Recovery Act and the Comprehensive Environmental Response, Compensation and Liability Act (commonly known as “Superfund”), which can impose joint and several liability on each responsible party. Subsidiaries (and former subsidiaries) of Altria are involved in several matters subjecting them to potential costs of remediation and natural resource damages under Superfund or other laws and regulations. Altria’s subsidiaries expect to continue to make capital and other expenditures in connection with environmental laws and regulations.Altria provides for expenses associated with environmental remediation obligations on an undiscounted basis when such amounts are probable and can be reasonably estimated. Such accruals are adjusted as new information develops or circumstances change. |
Revenue from Contract with Cust
Revenue from Contract with Customer (Policies) | 9 Months Ended |
Sep. 30, 2021 | |
Revenue from Contract with Customer [Abstract] | |
Revenue from Contract with Customer | Altria’s businesses record an allowance for returned goods, which is included in other accrued liabilities on Altria’s condensed consolidated balance sheets. While all of Altria’s tobacco operating companies sell tobacco products with dates relative to freshness as printed on product packaging, it is USSTC’s policy to accept authorized sales returns from its customers for products that have passed such dates due to the limited shelf life of USSTC’s MST and snus products. Altria’s businesses record estimated sales returns, which are based principally on historical volume and return rates, as a reduction to revenues. Actual sales returns will differ from estimated sales returns to the extent actual results differ from estimated assumptions. Altria’s businesses reflect differences between actual and estimated sales returns in the period in which the actual amounts become known. These differences, if any, have not had a material impact on Altria’s condensed consolidated financial statements. All returned goods are destroyed upon return and not included in inventory. Consequently, Altria’s businesses do not record an asset for their right to recover goods from customers upon return. |
Background and Basis of Prese_3
Background and Basis of Presentation (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Schedule of Share Repurchase Activity | Altria’s share repurchase activity for the nine and three months ended September 30, 2021 was as follows: (in millions, except per share data) For the Nine Months Ended September 30, 2021 For the Three Months Ended September 30, 2021 Total number of shares repurchased 20.2 6.7 Aggregate cost of shares repurchased $ 972 $ 322 Average price per share of shares repurchased $ 48.17 $ 48.35 |
Assets Held for Sale (Tables)
Assets Held for Sale (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Discontinued Operations and Disposal Groups [Abstract] | |
Disposal Groups, Including Discontinued Operations | The major classes of assets and liabilities of IWS classified as held for sale at September 30, 2021 were as follows: (in millions) September 30, 2021 Assets held for sale Cash and cash equivalents $ 36 Receivables 108 Inventories 715 Property, plant and equipment, net of accumulated depreciation 407 Other intangible assets, net 236 Other assets 29 Total assets 1,531 Reserve (41) Total assets held for sale 1,490 Liabilities held for sale Accounts payable 114 Accrued liabilities 83 Accrued pension costs 49 Other liabilities 49 Total liabilities held for sale 295 Assets and liabilities held for sale, net $ 1,195 |
Investments in Equity Securit_2
Investments in Equity Securities (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Investments [Abstract] | |
Investment | The carrying amount of Altria’s investments consisted of the following: (in millions) September 30, 2021 December 31, 2020 ABI $ 11,237 $ 16,651 JUUL 1,705 1,705 Cronos (1) 932 1,173 Total $ 13,874 $ 19,529 (1) Atria’s investment in Cronos at September 30, 2021 consisted of Altria’s equity method investment in Cronos ($897 million), the Cronos warrant ($32 million) and the Fixed-price Preemptive Rights ($3 million), (collectively, “Investment in Cronos”). The Investment in Cronos at December 31, 2020 consisted of Altria’s equity method investment in Cronos ($1,010 million), the Cronos warrant ($139 million) and the Fixed-price Preemptive Rights ($24 million). See below for further discussion. |
Equity Method Investments | Income (losses) from equity investments accounted for under the equity method of accounting and fair value option consisted of the following: For the Nine Months Ended September 30, For the Three Months Ended September 30, (in millions) 2021 2020 2021 2020 ABI (1) $ (5,644) $ (306) $ (6,036) $ (418) Cronos (145) — 21 (54) Income (losses) from investments under equity method of accounting (5,789) (306) $ (6,015) $ (472) JUUL — — 100 — Income (losses) from equity investments $ (5,789) $ (306) $ (5,915) $ (472) (1) For the nine and three months ended September 30, 2021, Altria recorded a non-cash, pre-tax impairment charge of $6,157 million related to its equity investment in ABI. See below for further discussion. |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation | The following table provides a reconciliation of the beginning and ending balance of Altria’s investment in JUUL, which is classified in Level 3 of the fair value hierarchy: Investment (in millions) Balance Balance at December 31, 2020 $ 1,705 Unrealized gains (losses) included in income (losses) from equity investments — Balance at September 30, 2021 $ 1,705 |
Financial Instruments (Tables)
Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Pre-tax Effects of Net Investment Hedges on Accumulated Other Comprehensive Losses | The following table provides (i) the aggregate notional amounts of foreign currency contracts and (ii) the aggregate carrying value and fair value of foreign currency denominated debt: (in millions) September 30, 2021 December 31, 2020 Foreign currency contracts (notional amounts) $ — $ 1,066 Foreign currency denominated debt Carrying value 4,905 5,171 Fair value 5,288 5,687 For the Nine Months Ended September 30, For the Three Months Ended September 30, (in millions) 2021 2020 2021 2020 Fixed-price Preemptive Rights $ (21) $ (54) $ (17) $ (25) Cronos warrant (107) (148) (118) (80) Total $ (128) $ (202) $ (135) $ (105) The pre-tax effects of Altria’s net investment hedges on accumulated other comprehensive losses and the condensed consolidated statements of earnings (losses) were as follows: Gain (Loss) Recognized in Accumulated Other Comprehensive Losses Gain (Loss) Recognized in Gain (Loss) Recognized in Accumulated Other Comprehensive Losses Gain (Loss) Recognized in For the Nine Months Ended September 30, For the Three Months Ended September 30, (in millions) 2021 2020 2021 2020 2021 2020 2021 2020 Foreign currency contracts $ 16 $ (28) $ 7 $ 33 $ — $ (66) $ — $ 8 Foreign currency denominated debt 270 (215) — — 118 (206) — — Total $ 286 $ (243) $ 7 $ 33 $ 118 $ (272) $ — $ 8 |
Schedule of Debt | The following table provides the aggregate carrying value and fair value of Altria’s total long-term debt: (in millions) September 30, 2021 December 31, 2020 Carrying value $ 28,127 $ 29,471 Fair value 31,037 34,682 |
Fair Value Measurement Inputs and Valuation Techniques | The fair values of the Fixed-price Preemptive Rights and Cronos warrant are estimated using Black-Scholes option-pricing models, adjusted for observable inputs (which are classified in Level 1 of the fair value hierarchy), including share price, and unobservable inputs, including probability factors and weighting of expected life, volatility levels and risk-free interest rates (which are classified in Level 3 of the fair value hierarchy) based on the following assumptions at: Fixed-price Preemptive Rights Cronos Warrant September 30, 2021 December 31, 2020 September 30, 2021 December 31, 2020 Share price (1) C$7.15 C$8.84 C$7.15 C$8.84 Expected life (2) 0.81 year 1.05 years 1.43 years 2.18 years Expected volatility (3) 67.32% 80.68% 67.32% 80.68% Risk-free interest rate (4)(5) 0.24% 0.13% 0.39% 0.21% Expected dividend yield (6) —% —% —% —% (1) Based on the closing market price for Cronos common stock on the Toronto Stock Exchange on the date indicated. (2) Based on the weighted-average expected life of the Fixed-price Preemptive Rights (with a range from approximately 0.25 year to 4.00 years at September 30, 2021 and 0.25 year to 5 years at December 31, 2020) and the March 8, 2023 expiration date of the Cronos warrant. (3) Based on a blend of historical volatility of the underlying equity security and implied volatility from traded options on the underlying equity security at September 30, 2021. Based on a blend of historical volatility levels of the underlying equity security and peer companies at December 31, 2020. (4) Based on the implied yield currently available on Canadian Treasury zero coupon issues (with a range from approximately 0.12% to 0.89% at September 30, 2021 and 0.06% to 0.39% at December 31, 2020) weighted for the remaining expected life of the Fixed-price Preemptive Rights. (5) Based on the implied yield currently available on Canadian Treasury zero coupon issues and the expected life of the Cronos warrant. (6) Based on Cronos’s expected dividend payments. |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation | The following table provides a reconciliation of the beginning and ending balance of the Fixed-price Preemptive Rights and Cronos warrant, which are classified in Level 3 of the fair value hierarchy: (in millions) Balance at December 31, 2019 $ 303 Pre-tax earnings (losses) recognized in net earnings (losses) (140) Balance at December 31, 2020 163 Pre-tax earnings (losses) recognized in net earnings (losses) (128) Balance at September 30, 2021 $ 35 |
Schedule of Derivative Liabilities at Fair Value | The fair values of Altria’s derivative financial instruments on a gross basis included on the condensed consolidated balance sheets were as follows: Fair Value of Assets Fair Value of Liabilities (in millions ) Balance Sheet Classification September 30, 2021 December 31, 2020 Balance Sheet Classification September 30, 2021 December 31, 2020 Derivatives designated as hedging instruments: Foreign currency contracts Other current assets $ — $ — Other accrued liabilities $ — $ 87 Foreign currency contracts Other assets — — Other liabilities — — Total $ — $ — $ — $ 87 Derivatives not designated as hedging instruments: Cronos warrant Investments in equity securities $ 32 $ 139 Fixed-price Preemptive Rights Investments in equity securities 3 24 Total $ 35 $ 163 Total derivatives $ 35 $ 163 $ — $ 87 |
Benefit Plans (Tables)
Benefit Plans (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Retirement Benefits [Abstract] | |
Schedule of Net Periodic Benefit (Income) Cost | Net periodic benefit (income) cost consisted of the following: Pension Postretirement Pension Postretirement For the Nine Months Ended For the Three Months Ended (in millions) 2021 2020 2021 2020 2021 2020 2021 2020 Service cost $ 51 $ 55 $ 15 $ 13 $ 17 $ 18 $ 5 $ 5 Interest cost 139 188 29 44 46 62 8 14 Expected return on plan assets (393) (376) (10) (11) (131) (125) (2) (4) Amortization: Net loss 99 108 16 7 33 55 2 — Prior service cost (credit) 3 4 (35) (22) 1 2 (20) (7) Net periodic benefit (income) cost $ (101) $ (21) $ 15 $ 31 $ (34) $ 12 $ (7) $ 8 |
Earnings (Losses) per Share (Ta
Earnings (Losses) per Share (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Basic and diluted earnings (losses) per share (“EPS”) were calculated using the following: For the Nine Months Ended September 30, For the Three Months Ended September 30, (in millions) 2021 2020 2021 2020 Net earnings (losses) attributable to Altria $ 851 $ 2,543 $ (2,722) $ (952) Less: Distributed and undistributed earnings attributable to share-based awards (8) (6) (2) (1) Earnings (losses) for basic and diluted EPS $ 843 $ 2,537 $ (2,724) $ (953) Weighted-average shares for basic EPS 1,849 1,858 1,842 1,858 Plus: contingently issuable performance stock units — 1 — 1 Weighted-average shares for diluted EPS 1,849 1,859 1,842 1,859 |
Other Comprehensive Earnings__2
Other Comprehensive Earnings/Losses (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Equity [Abstract] | |
Schedule of Accumulated Other Comprehensive Income (Loss) | The following tables set forth the changes in each component of accumulated other comprehensive losses, net of deferred income taxes, attributable to Altria: For the Nine Months Ended September 30, 2021 (in millions) Benefit Plans ABI Currency Accumulated Balances, December 31, 2020 $ (2,420) $ (1,938) $ 17 $ (4,341) Other comprehensive earnings (losses) before reclassifications 432 (1) 685 35 1,152 Deferred income taxes (118) (151) — (269) Other comprehensive earnings (losses) before reclassifications, net of deferred income taxes 314 534 35 883 Amounts reclassified to net earnings (losses) 92 (49) (2) 41 Deferred income taxes (23) 10 — (13) Amounts reclassified to net earnings (losses), net of deferred income taxes 69 (39) (2) 28 Other comprehensive earnings (losses), net of deferred income taxes 383 495 (2) 33 911 Balances, September 30, 2021 $ (2,037) $ (1,443) $ 50 $ (3,430) For the Three Months Ended September 30, 2021 (in millions) Benefit Plans ABI Currency Accumulated Balances, June 30, 2021 $ (2,043) $ (1,604) $ 45 $ (3,602) Other comprehensive earnings (losses) before reclassifications — 215 6 221 Deferred income taxes (9) (48) — (57) Other comprehensive earnings (losses) before reclassifications, net of deferred income taxes (9) 167 6 164 Amounts reclassified to net earnings (losses) 20 (7) (1) 12 Deferred income taxes (5) 1 — (4) Amounts reclassified to net earnings (losses), net of deferred income taxes 15 (6) (1) 8 Other comprehensive earnings (losses), net of deferred income taxes 6 161 (2) 5 172 Balances, September 30, 2021 $ (2,037) $ (1,443) $ 50 $ (3,430) For the Nine Months Ended September 30, 2020 (in millions) Benefit Plans ABI Currency Accumulated Balances, December 31, 2019 $ (2,192) $ (693) $ 21 $ (2,864) Other comprehensive earnings (losses) before reclassifications (75) (1,211) (16) (1,302) Deferred income taxes 19 260 — 279 Other comprehensive earnings (losses) before reclassifications, net of deferred income taxes (56) (951) (16) (1,023) Amounts reclassified to net earnings (losses) 111 29 — 140 Deferred income taxes (28) (6) — (34) Amounts reclassified to net earnings (losses), net of deferred income taxes 83 23 — 106 Other comprehensive earnings (losses), net of deferred income taxes 27 (928) (2) (16) (917) Balances, September 30, 2020 $ (2,165) $ (1,621) $ 5 $ (3,781) For the Three Months Ended September 30, 2020 (in millions) Benefit Plans ABI Currency Accumulated Balances, June 30, 2020 $ (2,150) $ (1,606) $ (18) $ (3,774) Other comprehensive earnings (losses) before reclassifications (75) (71) 23 (123) Deferred income taxes 19 22 — 41 Other comprehensive earnings (losses) before reclassifications, net of deferred income taxes (56) (49) 23 (82) Amounts reclassified to net earnings (losses) 55 44 — 99 Deferred income taxes (14) (10) — (24) Amounts reclassified to net earnings (losses), net of deferred income taxes 41 34 — 75 Other comprehensive earnings (losses), net of deferred income taxes (15) (15) (2) 23 (7) Balances, September 30, 2020 $ (2,165) $ (1,621) $ 5 $ (3,781) (1) Reflects the remeasurement impact of salaried retiree healthcare plan amendments. For further discussion, see Note 6. Benefit Plans. (2) Primarily reflects Altria’s share of ABI’s currency translation adjustments and the impact of Altria’s designated net investment hedges. For further discussion of designated net investment hedges, see Note 5. Financial Instruments. |
Reclassification out of Accumulated Other Comprehensive Income | The following table sets forth pre-tax amounts by component, reclassified from accumulated other comprehensive losses to net earnings (losses): For the Nine Months Ended September 30, For the Three Months Ended September 30, (in millions) 2021 2020 2021 2020 Benefit Plans: (1) Net loss $ 124 $ 129 $ 39 $ 60 Prior service cost/credit (32) (18) (19) (5) 92 111 20 55 ABI (2) (49) 29 (7) 44 Currency Translation Adjustments and Other (2) (2) — (1) — Pre-tax amounts reclassified from accumulated other comprehensive losses to net earnings (losses) $ 41 $ 140 $ 12 $ 99 (1) Amounts are included in net defined benefit plan costs. For further information related to defined benefit plans, see Note 6. Benefit Plans. (2) Amounts are included in (income) losses from equity investments. For further information related to equity investments, see Note 4. Investments in Equity Securities. |
Segment Reporting (Tables)
Segment Reporting (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Segment | Segment data were as follows: For the Nine Months Ended September 30, For the Three Months Ended September 30, (in millions) 2021 2020 2021 2020 Net revenues: Smokeable products $ 17,275 $ 17,522 $ 5,975 $ 6,313 Oral tobacco products 1,945 1,901 626 640 Wine 494 434 177 157 All other 44 (8) 8 13 Net revenues $ 19,758 $ 19,849 $ 6,786 $ 7,123 Earnings (losses) before income taxes: OCI: Smokeable products $ 7,901 $ 7,609 $ 2,753 $ 2,789 Oral tobacco products 1,269 1,297 405 436 Wine 21 (347) (24) 19 All other (56) (63) (30) (7) Amortization of intangibles (53) (54) (18) (17) General corporate expenses (255) (150) (135) (60) Operating income 8,827 8,292 2,951 3,160 Interest and other debt expense, net (869) (893) (266) (310) Loss on early extinguishment of debt (649) — — — Net periodic benefit income, excluding service cost 152 58 63 3 Income (losses) from equity investments (5,789) (306) (5,915) (472) Impairment of JUUL equity securities — (2,600) — (2,600) Gain (loss) on Cronos-related financial instruments (128) (202) (135) (105) Earnings (losses) before income taxes $ 1,544 $ 4,349 $ (3,302) $ (324) |
Schedule of Non-Participating Manufacturer Adjustment Items | Non-Participating Manufacturer (“NPM”) Adjustment Items: Pre-tax (income) for NPM adjustment items was recorded to Altria’s condensed consolidated statements of earnings (losses) as follows: For the Nine Months Ended September 30, For the Three Months Ended September 30, (in millions) 2021 2021 Smokeable products segment $ (53) $ (21) Interest and other debt expense, net (23) (23) Total $ (76) $ (44) |
Schedule of Tobacco and Health and Certain Other Litigation Items | Tobacco and Health and Certain Other Litigation Items: Pre-tax charges related to tobacco and health and certain other litigation items were recorded in Altria’s condensed consolidated statements of earnings (losses) as follows: For the Nine Months Ended September 30, For the Three Months Ended September 30, (in millions) 2021 2020 2021 2020 Smokeable products segment $ 72 $ 73 $ 29 $ 34 General corporate 70 — 70 — Interest and other debt expense, net 6 3 6 — Total $ 148 $ 76 $ 105 $ 34 |
Debt (Tables)
Debt (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Debt Disclosure [Abstract] | |
Schedule of Long-term Debt Instruments | During the first quarter of 2021, Altria completed debt tender offers to purchase for cash certain of its long-term senior unsecured notes in an aggregate principal amount of $4,042 million. Details of the debt tender offers are as follows: (in millions) Principal Amount of Notes Purchased 2.850% Notes due 2022 $ 795 2.950% Notes due 2023 132 4.000% Notes due 2024 624 3.800% Notes due 2024 655 4.400% Notes due 2026 430 4.800% Notes due 2029 1,094 9.950% Notes due 2038 65 10.200% Notes due 2039 18 6.200% Notes due 2059 229 $ 4,042 |
Income Taxes update (Tables)
Income Taxes update (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Income Tax Disclosure [Abstract] | |
Summary of Income Taxes | Earnings (losses) before income taxes, provision (benefit) for income taxes and income tax rates consisted of the following: For the Nine Months Ended September 30, For the Three Months Ended September 30, (in millions) 2021 2020 2021 2020 Earnings (losses) before income taxes $ 1,544 $ 4,349 $ (3,302) $ (324) Provision (benefit) for income taxes 693 1,817 (582) 632 Income tax rate 44.9 % 41.8 % 17.6 % (195.1) % |
Summary of Valuation Allowance | The following chart provides a reconciliation of the beginning and ending valuation allowances for the period ended September 30, 2021: (in millions) Balance at beginning of year $ 2,817 Additions to valuation allowance charged to income tax expense 264 Reductions to valuation allowance credited to income tax benefit (73) Foreign currency translation (4) Balance at end of period $ 3,004 |
Contingencies (Tables)
Contingencies (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Contingencies | The changes in Altria’s accrued liability for tobacco and health and certain other litigation items, including related interest costs, for the periods specified below are as follows: For the Nine Months Ended September 30, For the Three Months Ended September 30, (in millions) 2021 2020 2021 2020 Accrued liability for tobacco and health and certain other litigation items at beginning of period $ 9 $ 14 $ — $ 22 Pre-tax charges for: Tobacco and health and certain other litigation (1) 142 73 99 34 Related interest costs 6 3 6 — Payments (1) (60) (81) (8) (47) Accrued liability for tobacco and health and certain other litigation items at end of period $ 97 $ 9 $ 97 $ 9 (1) Includes amounts related to certain other litigation and pre-trial resolution of certain tobacco and health cases. The table below lists the number of certain tobacco-related cases pending in the U.S. against PM USA and/or Altria as of October 25, 2021, October 27, 2020 and October 28, 2019: October 25, 2021 October 27, 2020 October 28, 2019 Individual Smoking and Health Cases (1) 179 142 95 Health Care Cost Recovery Actions (2) 1 1 1 E-vapor Cases (3) 2,951 1,145 — Other Tobacco-Related Cases (4) 3 4 4 (1) Includes 18 cases filed in Illinois, 17 cases filed in New Mexico, 40 cases filed in Massachusetts and 70 non- Engle cases filed in Florida. Does not include individual smoking and health cases brought by or on behalf of plaintiffs in Florida state and federal courts following the decertification of the Engle case (these Engle progeny cases are discussed below in Smoking and Health Litigation - Engle Class Action ). Also does not include 1,471 cases brought by flight attendants seeking compensatory damages for personal injuries allegedly caused by exposure to environmental tobacco smoke (“ETS”). The flight attendants allege that they are members of an ETS smoking and health class action in Florida, which was settled in 1997 ( Broin ). The terms of the court-approved settlement in that case allowed class members to file individual lawsuits seeking compensatory damages, but prohibited them from seeking punitive damages. Class members were prohibited from filing individual lawsuits after 2000 under the court-approved settlement. (2) See Health Care Cost Recovery Litigation - Federal Government’s Lawsuit below. (3) Includes 53 class action lawsuits, 2,548 individual lawsuits and 350 “third party” lawsuits relating to JUUL e-vapor products, which include school districts, state and local government, tribal and healthcare organization lawsuits. JUUL is an additional named defendant in each of these lawsuits. The 53 class action lawsuits include 28 cases in the Northern District of California (“Multidistrict Litigation” or “MDL”) involving plaintiffs whose claims were previously included in other class action complaints but were refiled as separate stand-alone class actions for procedural and other reasons. (4) Includes one inactive smoking and health case alleging personal injury and purporting to be brought on behalf of a class of individual plaintiffs and two inactive class action lawsuits alleging that use of the terms “Lights” and “Ultra Lights” constitute deceptive and unfair trade practices, common law or statutory fraud, unjust enrichment, breach of warranty or violations of RICO. Currently Pending Engle Cases with Verdicts Against PM USA (rounded to nearest $ million) Plaintiff Verdict Date Defendant(s) Court Compensatory Damages (1) Punitive Damages Appeal Status Lipp September 2021 PM USA Miami-Dade $15 million $28 million Defendant’s post-trial motions denied. Defendant plans to appeal. Garcia May 2021 PM USA Miami-Dade $3 million Mistrial Appeal by defendant to Third District Court of Appeal pending. Duignan February 2020 (2) PM USA and R.J. Reynolds Pinellas $3 million $12 million Appeal by defendants to Second District Court of Appeal pending. Cuddihee January 2020 PM USA Duval $3 million $0 Appeal by defendant to First District Court of Appeal pending. Rintoul ( Caprio ) November 2019 (2) PM USA and R.J. Reynolds Broward $9 million $74 million Appeal by plaintiff and defendants to Fourth District Court of Appeal pending. Gloger November 2019 (2) PM USA and R.J. Reynolds Miami-Dade $15 million $11 million Appeal by defendants to Third District Court of Appeal pending. McCall March 2019 PM USA Broward <$1 million (<$1 million PM USA) $0 New trial ordered on punitive damages. Neff March 2019 PM USA and R.J. Reynolds Broward $4 million $2 million Fourth District Court of Appeal reversed the judgment against defendants and remanded for a new trial. Plaintiff's motion for rehearing was denied. Plaintiff Verdict Date Defendant(s) Court Compensatory Damages (1) Punitive Damages Appeal Status Mahfuz February 2019 PM USA and R.J. Reynolds Broward $12 million $10 million Fourth District Court of Appeal reversed the judgment against defendants and remanded for a new trial. Plaintiff's motion for rehearing was denied. Holliman February 2019 PM USA Miami-Dade $3 million $0 Defendant’s appeal to Third District Court of Appeal pending. Chadwell September 2018 PM USA Miami-Dade $2 million $0 Third District Court of Appeal affirmed the compensatory damages award. PM USA petitioned Florida Supreme Court for review. Case stayed pending Florida Supreme Court decision in Prentice . (3) Kaplan July 2018 PM USA and R.J. Reynolds Broward $2 million $2 million Fourth District Court of Appeal affirmed the verdict and reaffirmed the verdict on rehearing. Defendants sought review of the decision before the Florida Supreme Court and the court stayed the case pending its decision in Sheffield . (3) R. Douglas November 2017 PM USA Duval <$1 million $0 Awaiting entry of final judgment by the trial court. Sommers April 2017 PM USA Miami-Dade $1 million $0 Third District Court of Appeal affirmed compensatory damages award and granted new trial on punitive damages. Florida Supreme Court denied PM USA’s petition for review of the Third District Court of Appeal’s decision. PM USA paid approximately $1 million for the compensatory damages award and awaits the new trial on punitive damages. (4) The trial court stayed the new trial on punitive damages pending Florida Supreme Court’s decision in Sheffield . (3) Cooper (Blackwood) September 2015 PM USA and R.J. Reynolds Broward $5 million (<$1 million PM USA) $0 Fourth District Court of Appeal affirmed judgment and granted a new trial on punitive damages. D. Brown January 2015 PM USA Federal Court - Middle District of Florida $8 million $9 million Appeal by defendant to U.S. Court of Appeals for the Eleventh Circuit stayed pending Florida Supreme Court decision in Prentice . (3) (1) PM USA’s portion of the compensatory damages award is noted parenthetically where the court has ruled that comparative fault applies. (2) Plaintiff’s verdict following a retrial of an initial verdict in favor of plaintiff. (3) PM USA is not a defendant in Prentice or Sheffield . Prentice and Sheffield are discussed below in Engle Progeny Appellate Issues . (4) Plaintiff was granted an award of approximately $3 million in fees, costs and interest that PM USA appealed. The Florida Third District Court of Appeals affirmed the award and PM USA paid the award amount in March 2021. Engle Cases Concluded Within Past 12 Months (1) (rounded to nearest $ million) Plaintiff Verdict Date Defendant(s) Court Accrual Date Payment Amount Payment Date Berger (Cote) September 2014 PM USA Federal Court - Middle District of Florida Fourth quarter of 2018 and first quarter of 2021 $29 million February 2021 Santoro March 2017 PM USA, R.J. Reynolds and Liggett Group Broward Second quarter of 2020 and first quarter of 2021 $1 million January 2021 (1) In six cases in which PM USA paid the judgments more than a year ago, Naugle, Gore , M. Brown, Jordan, Theis and Landi , plaintiffs were awarded approximately $8 million, $2 million, $8 million, $4 million, $1 million and $3 million in fees and costs, respectively. PM USA has appealed in all of these cases, except Theis and Landi . In M. Brown , in March 2021 the Florida First District Court of Appeals affirmed the fee award and reversed the pre-judgment interest award and, in April 2021, PM USA paid $8.2 million in satisfaction of the fee award and post-judgment interest. In Theis , PM USA paid $1 million in satisfaction of fees and costs in May 2021 and, in Landi , PM USA paid approximately $1.5 million in satisfaction of fees, costs and interest in July 2021 (R.J. Reynolds paid approximately $1.5 million of the approximately $3 million award). |
New Accounting Guidance Not Y_2
New Accounting Guidance Not Yet Adopted (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Standards Update and Change in Accounting Principle [Abstract] | |
Recent Accounting Guidance Not Yet Adopted | The following table provides a description of issued accounting guidance applicable to, but not yet adopted by, Altria: Standards Description Effective Date for Public Entity Effect on Financial Statements ASU 2020-06 Accounting for Convertible Instruments and Contracts in an Entity ’ s Own Equity The guidance simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts in an entity’s own equity. Key provisions of the guidance include reducing the number of accounting models, simplifying the earnings per share calculations and expanding the disclosures related to convertible instruments. The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2021. Altria’s adoption of this guidance is not expected to have a material impact on its consolidated financial statements and related disclosures. |
Background and Basis of Prese_4
Background and Basis of Presentation (Narrative) (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 5 Months Ended | 9 Months Ended | 12 Months Ended | |||||||
Aug. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Sep. 30, 2020 | Apr. 29, 2021 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | Oct. 28, 2021 | Jan. 31, 2021 | Apr. 30, 2020 | Jul. 31, 2019 | |
Equity, Class of Treasury Stock [Line Items] | ||||||||||||
Payments to acquire additional interest in subsidiaries | $ 250,000,000 | |||||||||||
Common stock, dividend increase, percentage | 4.70% | |||||||||||
Dividends declared (usd per share) | $ 0.90 | $ 0.90 | $ 0.86 | $ 0.86 | $ 2.62 | $ 2.54 | ||||||
Common stock, dividend rate, annual (in usd per share) | $ 3.60 | $ 3.60 | ||||||||||
July 2019 Share Repurchase Program [Member] | ||||||||||||
Equity, Class of Treasury Stock [Line Items] | ||||||||||||
Planned share repurchase program | $ 1,000,000,000 | |||||||||||
Stock repurchase program, rescinded authorized repurchase amount | $ 500,000,000 | |||||||||||
Repurchase of common stock (shares) | 0 | |||||||||||
January 2021 Share Repurchase Program [Member] | ||||||||||||
Equity, Class of Treasury Stock [Line Items] | ||||||||||||
Planned share repurchase program | $ 2,000,000,000 | |||||||||||
Repurchase of common stock (shares) | 6,700,000 | 20,200,000 | ||||||||||
Stock repurchase program, remaining authorized repurchase amount | $ 1,028,000,000 | $ 1,028,000,000 | ||||||||||
January 2021 Share Repurchase Program [Member] | Subsequent Event [Member] | ||||||||||||
Equity, Class of Treasury Stock [Line Items] | ||||||||||||
Planned share repurchase program | $ 3,500,000,000 | |||||||||||
Stock repurchase program, increase authorized amount | $ 1,500,000,000 | |||||||||||
Helix Innovations LLC [Member] | ||||||||||||
Equity, Class of Treasury Stock [Line Items] | ||||||||||||
Subsidiary ownership percentage | 100.00% | |||||||||||
Noncontrolling interest, remaining interest purchased by parent | 20.00% |
Background and Basis of Prese_5
Background and Basis of Presentation (Share Repurchase Table) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | 9 Months Ended |
Sep. 30, 2021 | Sep. 30, 2021 | |
Equity, Class of Treasury Stock [Line Items] | ||
Aggregate cost of shares repurchased | $ 322 | $ 972 |
January 2021 Share Repurchase Program [Member] | ||
Equity, Class of Treasury Stock [Line Items] | ||
Total number of shares repurchased (shares) | 6.7 | 20.2 |
Aggregate cost of shares repurchased | $ 322 | $ 972 |
Average price per share of shares repurchased (usd per share) | $ 48.35 | $ 48.17 |
Revenues from Contracts with _2
Revenues from Contracts with Customers (Narrative) (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2021 | Dec. 31, 2020 | |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Deferred revenue | $ 260,000,000 | $ 301,000,000 |
Expected period for satisfaction of performance obligation | three days | |
Receivables, Net Current, Including Assets Held For Sale | $ 144,000,000 | |
Receivables | 36,000,000 | 137,000,000 |
Allowance for doubtful accounts, receivables | 0 | $ 0 |
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | ||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Disposal group, including discontinued operation, accounts, notes and loans receivable, net | $ 108,000,000 |
Assets Held for Sale (Narrative
Assets Held for Sale (Narrative) (Details) - Disposal Group, Held-for-sale, Not Discontinued Operations [Member] - USD ($) $ in Millions | Oct. 01, 2021 | Sep. 30, 2021 |
Ste. Michelle Transaction [Member] | Subsequent Event [Member] | ||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Disposal group, including discontinued operation, consideration | $ 1,200 | |
Ste. Michelle Transaction [Member] | ||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Pre-tax charge for adjustment to record the assets and liabilities at fair value less costs to sell | $ 41 | |
Disposal group disposition related costs | 10 | |
Disposal group, total pre-tax charges | 41 | |
Ste. Michelle Transaction [Member] | Wine Segment [Member] | Marketing Administration And Research Costs [Member] | ||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Disposal group, total pre-tax charges | $ 51 | |
Ste. Michelle Transaction [Member] | Subsequent Event [Member] | ||
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
Proceeds from divestiture of businesses | $ 1,200 |
Assets Held for Sale (Summary o
Assets Held for Sale (Summary of Major Classes of Assets and Liabilities Classified as Held for Sale) (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2021 | Dec. 31, 2020 | |
Assets held for sale | ||
Assets held for sale | $ 1,490 | $ 0 |
Liabilities held for sale | ||
Liabilities held for sale | 295 | $ 0 |
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | ||
Assets held for sale | ||
Receivables | 108 | |
Ste. Michelle Transaction [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | ||
Assets held for sale | ||
Cash and cash equivalents | 36 | |
Receivables | 108 | |
Inventories | 715 | |
Property, plant and equipment, net of accumulated depreciation | 407 | |
Other intangible assets, net | 236 | |
Other assets | 29 | |
Total assets | 1,531 | |
Reserve | (41) | |
Assets held for sale | 1,490 | |
Liabilities held for sale | ||
Accounts payable | 114 | |
Accrued liabilities | 83 | |
Accrued pension costs | 49 | |
Other liabilities | 49 | |
Liabilities held for sale | 295 | |
Assets and liabilities held for sale, net | $ 1,195 |
Investments in Equity Securit_3
Investments in Equity Securities (Summary of Investments) (Details) - USD ($) $ in Millions | Sep. 30, 2021 | Dec. 31, 2020 |
Investments [Line Items] | ||
Investments | $ 13,874 | $ 19,529 |
ABI [Member] | ||
Investments [Line Items] | ||
Investments in equity securities | 11,237 | 16,651 |
JUUL [Member] | ||
Investments [Line Items] | ||
JUUL | 1,705 | 1,705 |
Cronos [Member] | ||
Investments [Line Items] | ||
Investments in equity securities | 932 | 1,173 |
Equity Contract, Warrant [Member] | Cronos [Member] | ||
Investments [Line Items] | ||
Derivative asset, fair value, gross asset | 32 | 139 |
Equity Contract, Preemptive Rights [Member] | Cronos [Member] | ||
Investments [Line Items] | ||
Derivative asset, fair value, gross asset | 3 | 24 |
Common Stock [Member] | Cronos [Member] | ||
Investments [Line Items] | ||
Investments in equity securities | $ 897 | $ 1,010 |
Investments in Equity Securit_4
Investments in Equity Securities (Earnings in Equity Securities) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Schedule of Equity Method Investments [Line Items] | |||||
Income (losses) from investments under equity method of accounting | $ (6,015,000,000) | $ (472,000,000) | $ (5,789,000,000) | $ (306,000,000) | |
Income (losses) from equity investments | (5,915,000,000) | (472,000,000) | (5,789,000,000) | (306,000,000) | |
ABI [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Income (losses) from investments under equity method of accounting | (6,036,000,000) | (418,000,000) | (5,644,000,000) | (306,000,000) | |
Equity method investment, impairment | 6,157,000,000 | 6,157,000,000 | $ 0 | ||
Cronos [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
Income (losses) from investments under equity method of accounting | 21,000,000 | (54,000,000) | (145,000,000) | 0 | |
JUUL [Member] | |||||
Schedule of Equity Method Investments [Line Items] | |||||
JUUL | $ 100,000,000 | $ 0 | $ 0 | $ 0 |
Investments in Equity Securit_5
Investments in Equity Securities (Investment in ABI Narrative) (Details) - USD ($) shares in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Sep. 30, 2021 | Dec. 31, 2020 | |
Schedule of Equity Method Investments [Line Items] | |||
Fair value of equity investment | $ 11,200,000,000 | $ 11,200,000,000 | |
Equity method investment, difference between carrying amount and underlying equity | $ 14,000,000 | $ 14,000,000 | $ 77,000,000 |
ABI [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Equity method investment, ownership percentage | 10.00% | 10.00% | |
Number of restricted shares owned (in shares) | 185 | 185 | |
Number of ordinary shares owned (in shares) | 12 | 12 | |
Restricted shares, lock-up period | 5 years | ||
Investments in equity securities | $ 11,237,000,000 | $ 11,237,000,000 | $ 16,651,000,000 |
Difference between carrying amount and fair value, percentage (approximately) | 35.00% | 17.00% | |
Equity method investment, impairment | $ 6,157,000,000 | $ 6,157,000,000 | $ 0 |
Equity method investment, reduction in share price, percentage | 18.00% | 18.00% | |
Equity method investment, difference between carrying amount and underlying equity | $ 5,100,000,000 | $ 5,100,000,000 | |
Fair Value, Inputs, Level 1 [Member] | ABI [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Fair value of equity investment | $ 13,800,000,000 |
Investments in Equity Securit_6
Investments in Equity Securities (Investment in JUUL Narrative) (Details) - USD ($) shares in Millions | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Oct. 31, 2020 | Apr. 30, 2020 | Dec. 31, 2018 | |
Schedule of Equity Method Investments [Line Items] | |||||||
Equity securities without readily determinable fair value, downward price adjustment, cumulative amount | $ 0 | ||||||
Impairment of JUUL equity securities | $ 0 | $ 2,600,000,000 | $ 0 | $ 2,600,000,000 | |||
JUUL [Member] | |||||||
Schedule of Equity Method Investments [Line Items] | |||||||
Equity securities, ownership percentage | 35.00% | 35.00% | 35.00% | 35.00% | |||
Equity investments, fair value option, voting shares (in shares) | 42 | 42 | |||||
Equity securities without readily determinable fair value, upward price adjustment, cumulative amount | $ 0 | ||||||
Impairment of JUUL equity securities | 2,600,000,000 | 2,600,000,000 | |||||
Income (loss) from equity investments, fair value option | $ 100,000,000 | $ 0 | $ 0 | $ 0 |
Investments in Equity Securit_7
Investments in Equity Securities (JUUL Investment Classified as Level 3) (Details) - Equity Method Investments, Fair Value Option [Member] - JUUL [Member] $ in Millions | 9 Months Ended |
Sep. 30, 2021USD ($) | |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |
Balance at beginning of period | $ 1,705 |
Unrealized gains (losses) included in income (losses) from equity investments | 0 |
Balance at end of period | $ 1,705 |
Investments in Equity Securit_8
Investments in Equity Securities (Investment in Cronos Narrative) (Details) $ / shares in Units, shares in Thousands, $ in Millions, $ in Billions | Oct. 25, 2021USD ($) | Sep. 30, 2021CAD ($) | Dec. 31, 2020USD ($) | Sep. 30, 2021USD ($)shares | Sep. 30, 2021$ / shares |
Investments [Line Items] | |||||
Equity method investment, difference between carrying amount and underlying equity | $ 77 | $ 14 | |||
Cronos [Member] | |||||
Investments [Line Items] | |||||
Ownership percentage | 43.50% | 41.90% | |||
Number of ordinary shares owned (approximately) (in shares) | shares | 156,600 | ||||
Equity method investment, difference between carrying amount and fair value, percentage (approximately) | 2.00% | 8.00% | |||
Equity Contract, Preemptive Rights [Member] | Cronos [Member] | |||||
Investments [Line Items] | |||||
Equity method investment, shares purchased, (CAD per share) | $ / shares | $ 16.25 | ||||
Equity method investment, number of shares eligible for purchase (approximately) (in shares) | shares | 14,000 | ||||
Equity method investment, aggregate exercise price | $ 0.2 | ||||
Equity Contract, Preemptive Rights [Member] | Cronos [Member] | Subsequent Event [Member] | |||||
Investments [Line Items] | |||||
Equity method investment, aggregate exercise price | $ 200 | ||||
Equity Contract, Warrant [Member] | Cronos [Member] | |||||
Investments [Line Items] | |||||
Equity method investment, shares purchased, (CAD per share) | $ / shares | $ 19 | ||||
Equity method investment, number of shares eligible for purchase (approximately) (in shares) | shares | 83,000 | ||||
Equity method investment, percentage of shares eligible for purchase (approximately) | 10.00% | ||||
Equity method investment, aggregate exercise price | $ 1.6 | ||||
Equity Contract, Warrant [Member] | Cronos [Member] | Subsequent Event [Member] | |||||
Investments [Line Items] | |||||
Equity method investment, aggregate exercise price | $ 1,300 | ||||
Equity Contract, Warrant And Equity Contract, Preemptive Rights [Member] | Cronos [Member] | |||||
Investments [Line Items] | |||||
Equity method investment, warrant exercised, ownership percentage | 53.00% |
Financial Instruments (Aggregat
Financial Instruments (Aggregate Notional Amounts, Aggregate Fair Values and Carrying Values) (Details) - USD ($) $ in Millions | Sep. 30, 2021 | Dec. 31, 2020 |
Derivative [Line Items] | ||
Carrying value | $ 28,127 | $ 29,471 |
Foreign Currency Denominated Debt [Member] | ||
Derivative [Line Items] | ||
Carrying value | 4,905 | 5,171 |
Fair value | 5,288 | 5,687 |
Foreign Currency Contract [Member] | Net Investment Hedging [Member] | ||
Derivative [Line Items] | ||
Foreign currency contracts (notional amounts) | $ 0 | $ 1,066 |
Financial Instruments (Aggreg_2
Financial Instruments (Aggregate Fair Value and Carrying Value) (Details) - USD ($) $ in Millions | Sep. 30, 2021 | Dec. 31, 2020 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Carrying value | $ 28,127 | $ 29,471 |
Fair value | $ 31,037 | $ 34,682 |
Financial Instruments (Fair Val
Financial Instruments (Fair Value Using Black-Scholes Option-Pricing Model) (Details) | Sep. 30, 2021year$ / shares | Dec. 31, 2020year$ / shares |
Share price [Member] | Fixed-price Preemptive Rights [Member] | ||
Derivative [Line Items] | ||
Derivative asset, measurement input | $ / shares | 7.15 | 8.84 |
Share price [Member] | Cronos Warrant [Member] | ||
Derivative [Line Items] | ||
Derivative asset, measurement input | $ / shares | 7.15 | 8.84 |
Expected Life [Member] | Fixed-price Preemptive Rights [Member] | ||
Derivative [Line Items] | ||
Derivative asset, measurement input | 0.81 | 1.05 |
Expected Life [Member] | Cronos Warrant [Member] | ||
Derivative [Line Items] | ||
Derivative asset, measurement input | 1.43 | 2.18 |
Expected Volatility [Member] | Fixed-price Preemptive Rights [Member] | ||
Derivative [Line Items] | ||
Derivative asset, measurement input | 0.6732 | 0.8068 |
Expected Volatility [Member] | Cronos Warrant [Member] | ||
Derivative [Line Items] | ||
Derivative asset, measurement input | 0.6732 | 0.8068 |
Risk Free Interest Rate [Member] | Fixed-price Preemptive Rights [Member] | ||
Derivative [Line Items] | ||
Derivative asset, measurement input | 0.0024 | 0.0013 |
Risk Free Interest Rate [Member] | Fixed-price Preemptive Rights [Member] | Minimum [Member] | ||
Derivative [Line Items] | ||
Derivative asset, measurement input | 0.0012 | 0.0006 |
Risk Free Interest Rate [Member] | Fixed-price Preemptive Rights [Member] | Maximum [Member] | ||
Derivative [Line Items] | ||
Derivative asset, measurement input | 0.0089 | 0.0039 |
Risk Free Interest Rate [Member] | Cronos Warrant [Member] | ||
Derivative [Line Items] | ||
Derivative asset, measurement input | 0.0039 | 0.0021 |
Expected Dividend Yield [Member] | Fixed-price Preemptive Rights [Member] | ||
Derivative [Line Items] | ||
Derivative asset, measurement input | 0 | 0 |
Expected Dividend Yield [Member] | Cronos Warrant [Member] | ||
Derivative [Line Items] | ||
Derivative asset, measurement input | 0 | 0 |
Weighted Average Expected Term [Member] | Fixed-price Preemptive Rights [Member] | Minimum [Member] | ||
Derivative [Line Items] | ||
Derivative asset, measurement input | 0.25 | 0.25 |
Weighted Average Expected Term [Member] | Fixed-price Preemptive Rights [Member] | Maximum [Member] | ||
Derivative [Line Items] | ||
Derivative asset, measurement input | 4 | 5 |
Financial Instruments (Beginnin
Financial Instruments (Beginning and Ending Balances of Fixed-price Preemptive Rights and Warrants) (Details) - Fair Value, Inputs, Level 3 [Member] - Equity Contract [Member] - USD ($) $ in Millions | 9 Months Ended | 12 Months Ended |
Sep. 30, 2021 | Dec. 31, 2020 | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||
Balance at begging of period | $ 163 | $ 303 |
Pre-tax earnings (losses) recognized in net earnings (losses) | (128) | (140) |
Balance at end of period | $ 35 | $ 163 |
Financial Instruments (Fair V_2
Financial Instruments (Fair Value Derivative Financial Instruments) (Details) - Net Investment Hedging [Member] - USD ($) $ in Millions | Sep. 30, 2021 | Dec. 31, 2020 |
Derivatives, Fair Value [Line Items] | ||
Fair Value of Assets | $ 35 | $ 163 |
Fair Value of Liabilities | 0 | 87 |
Foreign currency contracts [Member] | Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Fair Value of Assets | 0 | 0 |
Fair Value of Liabilities | 0 | 87 |
Foreign currency contracts [Member] | Designated as Hedging Instrument [Member] | Other Current Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Fair Value of Assets | 0 | 0 |
Foreign currency contracts [Member] | Designated as Hedging Instrument [Member] | Other Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Fair Value of Assets | 0 | 0 |
Foreign currency contracts [Member] | Designated as Hedging Instrument [Member] | Other Accrued Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Fair Value of Liabilities | 0 | 87 |
Foreign currency contracts [Member] | Designated as Hedging Instrument [Member] | Other Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Fair Value of Liabilities | 0 | 0 |
Equity Contract [Member] | Not Designated as Hedging Instrument [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Fair Value of Assets | 35 | 163 |
Cronos Warrant [Member] | Not Designated as Hedging Instrument [Member] | Investments In Equity Securities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Fair Value of Assets | 32 | 139 |
Fixed-price Preemptive Rights [Member] | Not Designated as Hedging Instrument [Member] | Investments In Equity Securities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Fair Value of Assets | $ 3 | $ 24 |
Financial Instruments (Pre-tax
Financial Instruments (Pre-tax Unrealized Gains (Losses)) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Derivative [Line Items] | ||||
Unrealized gain (loss) on derivatives | $ (135) | $ (105) | $ (128) | $ (202) |
Fixed-price Preemptive Rights [Member] | ||||
Derivative [Line Items] | ||||
Unrealized gain (loss) on derivatives | (17) | (25) | (21) | (54) |
Cronos Warrant [Member] | ||||
Derivative [Line Items] | ||||
Unrealized gain (loss) on derivatives | $ (118) | $ (80) | $ (107) | $ (148) |
Financial Instruments (Effects
Financial Instruments (Effects of Net Investment Hedges on Accumulated Other Comprehensive Losses) (Details) - Net Investment Hedging [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) Recognized in Accumulated Other Comprehensive Losses | $ 118 | $ (272) | $ 286 | $ (243) |
Gain (Loss) Recognized in Net Earnings (Losses) | 0 | 8 | 7 | 33 |
Foreign currency contracts [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) Recognized in Accumulated Other Comprehensive Losses | 0 | (66) | 16 | (28) |
Gain (Loss) Recognized in Net Earnings (Losses) | 0 | 8 | 7 | 33 |
Foreign currency denominated debt [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) Recognized in Accumulated Other Comprehensive Losses | 118 | (206) | 270 | (215) |
Gain (Loss) Recognized in Net Earnings (Losses) | $ 0 | $ 0 | $ 0 | $ 0 |
Benefit Plans (Schedule Of Comp
Benefit Plans (Schedule Of Components Of Net Periodic Benefit Cost (Income)) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Pension [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | $ 17 | $ 18 | $ 51 | $ 55 |
Interest cost | 46 | 62 | 139 | 188 |
Expected return on plan assets | (131) | (125) | (393) | (376) |
Amortization: | ||||
Net loss | 33 | 55 | 99 | 108 |
Prior service cost (credit) | 1 | 2 | 3 | 4 |
Net periodic benefit (income) cost | (34) | 12 | (101) | (21) |
Postretirement [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 5 | 5 | 15 | 13 |
Interest cost | 8 | 14 | 29 | 44 |
Expected return on plan assets | (2) | (4) | (10) | (11) |
Amortization: | ||||
Net loss | 2 | 0 | 16 | 7 |
Prior service cost (credit) | (20) | (7) | (35) | (22) |
Net periodic benefit (income) cost | $ (7) | $ 8 | $ 15 | $ 31 |
Benefit Plans (Narrative) (Deta
Benefit Plans (Narrative) (Details) - USD ($) | May 31, 2021 | Sep. 30, 2021 |
Pension [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined benefit plan, plan assets, contributions by employer | $ 23,000,000 | |
Pension [Member] | Maximum [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Anticipated additional employer contributions | 5,000,000 | |
Postretirement [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined benefit plan, plan assets, contributions by employer | 0 | |
Decrease in accrued postretirement health care cost liability | $ 432,000,000 | |
Postretirement [Member] | Maximum [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Anticipated additional employer contributions | $ 0 |
Earnings (Losses) per Share (Ba
Earnings (Losses) per Share (Basic and Diluted Earnings Per Share) (Details) - USD ($) shares in Thousands, $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Earnings Per Share [Abstract] | ||||
Net earnings (losses) attributable to Altria | $ (2,722) | $ (952) | $ 851 | $ 2,543 |
Less: Distributed and undistributed earnings attributable to share-based awards | (2) | (1) | (8) | (6) |
Earnings (losses) for basic EPS | (2,724) | (953) | 843 | 2,537 |
Earnings (losses) for diluted EPS | $ (2,724) | $ (953) | $ 843 | $ 2,537 |
Weighted-average shares for basic EPS (in shares) | 1,842,000 | 1,858,000 | 1,849,000 | 1,858,000 |
Plus: contingently issuable performance stock units (in shares) | 0 | 1,000 | 0 | 1,000 |
Weighted-average shares for diluted EPS (in shares) | 1,842,000 | 1,859,000 | 1,849,000 | 1,859,000 |
Other Comprehensive Earnings__3
Other Comprehensive Earnings/Losses (Changes in Each Component of Accumulated Other Comprehensive Losses) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Accumulated Other Comprehensive Income [Roll Forward] | ||||
Beginning balance | $ 3,259 | $ 5,786 | $ 2,925 | $ 6,319 |
Other comprehensive earnings (losses), net of deferred income taxes | 172 | (7) | 911 | (917) |
Ending balance | (1,265) | 3,232 | (1,265) | 3,232 |
Accumulated Other Comprehensive Losses [Member] | ||||
Accumulated Other Comprehensive Income [Roll Forward] | ||||
Beginning balance | (3,602) | (3,774) | (4,341) | (2,864) |
Other comprehensive earnings (losses) before reclassifications | 221 | (123) | 1,152 | (1,302) |
Deferred income taxes | (57) | 41 | (269) | 279 |
Other comprehensive earnings (losses) before reclassifications, net of deferred income taxes | 164 | (82) | 883 | (1,023) |
Amounts reclassified to net earnings (losses) | 12 | 99 | 41 | 140 |
Deferred income taxes | (4) | (24) | (13) | (34) |
Amounts reclassified to net earnings (losses), net of deferred income taxes | 8 | 75 | 28 | 106 |
Other comprehensive earnings (losses), net of deferred income taxes | 172 | (7) | 911 | (917) |
Ending balance | (3,430) | (3,781) | (3,430) | (3,781) |
Benefit Plans [Member] | ||||
Accumulated Other Comprehensive Income [Roll Forward] | ||||
Beginning balance | (2,043) | (2,150) | (2,420) | (2,192) |
Other comprehensive earnings (losses) before reclassifications | 0 | (75) | 432 | (75) |
Deferred income taxes | (9) | 19 | (118) | 19 |
Other comprehensive earnings (losses) before reclassifications, net of deferred income taxes | (9) | (56) | 314 | (56) |
Amounts reclassified to net earnings (losses) | 20 | 55 | 92 | 111 |
Deferred income taxes | (5) | (14) | (23) | (28) |
Amounts reclassified to net earnings (losses), net of deferred income taxes | 15 | 41 | 69 | 83 |
Other comprehensive earnings (losses), net of deferred income taxes | 6 | (15) | 383 | 27 |
Ending balance | (2,037) | (2,165) | (2,037) | (2,165) |
ABI [Member] | ||||
Accumulated Other Comprehensive Income [Roll Forward] | ||||
Beginning balance | (1,604) | (1,606) | (1,938) | (693) |
Other comprehensive earnings (losses) before reclassifications | 215 | (71) | 685 | (1,211) |
Deferred income taxes | (48) | 22 | (151) | 260 |
Other comprehensive earnings (losses) before reclassifications, net of deferred income taxes | 167 | (49) | 534 | (951) |
Amounts reclassified to net earnings (losses) | (7) | 44 | (49) | 29 |
Deferred income taxes | 1 | (10) | 10 | (6) |
Amounts reclassified to net earnings (losses), net of deferred income taxes | (6) | 34 | (39) | 23 |
Other comprehensive earnings (losses), net of deferred income taxes | 161 | (15) | 495 | (928) |
Ending balance | (1,443) | (1,621) | (1,443) | (1,621) |
Currency Translation Adjustments and Other [Member] | ||||
Accumulated Other Comprehensive Income [Roll Forward] | ||||
Beginning balance | 45 | (18) | 17 | 21 |
Other comprehensive earnings (losses) before reclassifications | 6 | 23 | 35 | (16) |
Deferred income taxes | 0 | 0 | 0 | 0 |
Other comprehensive earnings (losses) before reclassifications, net of deferred income taxes | 6 | 23 | 35 | (16) |
Amounts reclassified to net earnings (losses) | (1) | 0 | (2) | 0 |
Deferred income taxes | 0 | 0 | 0 | 0 |
Amounts reclassified to net earnings (losses), net of deferred income taxes | (1) | 0 | (2) | 0 |
Other comprehensive earnings (losses), net of deferred income taxes | 5 | 23 | 33 | (16) |
Ending balance | $ 50 | $ 5 | $ 50 | $ 5 |
Other Comprehensive Earnings__4
Other Comprehensive Earnings/Losses (Reclassifications) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net periodic benefit income, excluding service cost | $ (63) | $ (3) | $ (152) | $ (58) |
(Income) losses from equity investments | 6,015 | 472 | 5,789 | 306 |
Pre-tax amounts reclassified from accumulated other comprehensive losses to net earnings (losses) | 2,720 | 956 | (851) | (2,532) |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Pre-tax amounts reclassified from accumulated other comprehensive losses to net earnings (losses) | 12 | 99 | 41 | 140 |
Benefit Plans [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net periodic benefit income, excluding service cost | 20 | 55 | 92 | 111 |
Net loss [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net periodic benefit income, excluding service cost | 39 | 60 | 124 | 129 |
Prior service cost/credit [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Net periodic benefit income, excluding service cost | (19) | (5) | (32) | (18) |
ABI [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
(Income) losses from equity investments | (7) | 44 | (49) | 29 |
Currency Translation Adjustments and Other [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
(Income) losses from equity investments | $ (1) | $ 0 | $ (2) | $ 0 |
Segment Reporting (Segment Data
Segment Reporting (Segment Data Schedule) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Segment Reporting Information [Line Items] | |||||
Net revenues | $ 6,786 | $ 7,123 | $ 19,758 | $ 19,849 | |
Operating income | 2,951 | 3,160 | 8,827 | 8,292 | |
Interest and other debt expense, net | (266) | (310) | (869) | (893) | |
Loss on early extinguishment of debt | 0 | $ (649) | 0 | (649) | 0 |
Net periodic benefit income, excluding service cost | 63 | 3 | 152 | 58 | |
Income (losses) from equity investments | (5,915) | (472) | (5,789) | (306) | |
Impairment of JUUL equity securities | 0 | (2,600) | 0 | (2,600) | |
Gain (loss) on Cronos-related financial instruments | (135) | (105) | (128) | (202) | |
Earnings (losses) before income taxes | (3,302) | (324) | 1,544 | 4,349 | |
Smokeable Products Segment [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net revenues | 5,975 | 6,313 | 17,275 | 17,522 | |
OCI | 2,753 | 2,789 | 7,901 | 7,609 | |
Oral Tobacco Segment [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net revenues | 626 | 640 | 1,945 | 1,901 | |
OCI | 405 | 436 | 1,269 | 1,297 | |
Wine Segment [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net revenues | 177 | 157 | 494 | 434 | |
OCI | (24) | 19 | 21 | (347) | |
All Other [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net revenues | 8 | 13 | 44 | (8) | |
OCI | (30) | (7) | (56) | (63) | |
Segment Reconciling Items [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Amortization of intangibles | (18) | (17) | (53) | (54) | |
General corporate [Member] | |||||
Segment Reporting Information [Line Items] | |||||
General corporate expenses | $ (135) | $ (60) | $ (255) | $ (150) |
Segment Reporting (Non-Particip
Segment Reporting (Non-Participating Manufacturer Adjustment Items) (Details) - Non-Participating Manufacturer Arbitration Panel Decision - NPM Adjustment to Cost Of Sales [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended |
Sep. 30, 2021 | Sep. 30, 2021 | |
Segment Reporting Information [Line Items] | ||
Loss (gain) related to litigation settlement | $ (44) | $ (76) |
Operating Income (Loss) [Member] | Smokeable Products Segment [Member] | PM USA [Member] | Operating Segments [Member] | ||
Segment Reporting Information [Line Items] | ||
Loss (gain) related to litigation settlement | (21) | (53) |
Interest and other debt expense, net [Member] | Segment Reconciling Items [Member] | ||
Segment Reporting Information [Line Items] | ||
Loss (gain) related to litigation settlement | $ (23) | $ (23) |
Segment Reporting (Schedule of
Segment Reporting (Schedule of Tobacco and Health and Certain Other Litigation Items) (Details) - Tobacco and Health Litigation Cases [Member] - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Schedule of Pre-tax Tobacco and Health Litigation Charges [Line Items] | ||||
Provision related to litigation recorded | $ 105 | $ 34 | $ 148 | $ 76 |
Corporate, Non-Segment [Member] | ||||
Schedule of Pre-tax Tobacco and Health Litigation Charges [Line Items] | ||||
Provision related to litigation recorded | 70 | 0 | 70 | 0 |
Segment Reconciling Items [Member] | ||||
Schedule of Pre-tax Tobacco and Health Litigation Charges [Line Items] | ||||
Provision related to litigation recorded | 6 | 0 | 6 | 3 |
PM USA [Member] | Operating Segments [Member] | Smokeable Products Segment [Member] | ||||
Schedule of Pre-tax Tobacco and Health Litigation Charges [Line Items] | ||||
Provision related to litigation recorded | $ 29 | $ 34 | $ 72 | $ 73 |
Segment Reporting (Narrative) (
Segment Reporting (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Restructuring Cost and Reserve [Line Items] | ||||
Cost of sales | $ 1,858 | $ 1,961 | $ 5,348 | $ 5,909 |
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Ste. Michelle Transaction [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Disposal group, total pre-tax charges | 41 | |||
Disposal group disposition related costs | 10 | |||
COVID-19 [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Cost of sales | 50 | 50 | ||
Oral Tobacco Segment [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Business combination, acquisition related costs | 37 | |||
Oral Tobacco Segment [Member] | COVID-19 [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Cost of sales | 9 | 9 | ||
Smokeable Products Segment [Member] | COVID-19 [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Cost of sales | $ 41 | 41 | ||
Wine Segment [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Ste. Michelle Transaction [Member] | Marketing Administration And Research Costs [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Disposal group, total pre-tax charges | $ 51 | |||
Wine Business Strategic Reset [Member] | Inventory Disposal Costs and Other [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges | 395 | |||
Wine Business Strategic Reset [Member] | Inventory Write-Off [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges | 292 | |||
Wine Business Strategic Reset [Member] | Purchase Commitment [Member] | ||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring charges | $ 100 |
Debt (Narrative) (Details)
Debt (Narrative) (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||||||
May 31, 2021 | Feb. 28, 2021 | Mar. 31, 2020 | Sep. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Debt Instrument [Line Items] | |||||||||
Short-term debt | $ 0 | $ 0 | $ 0 | ||||||
Carrying value | 28,127,000,000 | 28,127,000,000 | 29,471,000,000 | ||||||
Long-term debt repaid | 6,542,000,000 | $ 1,000,000,000 | |||||||
Loss on early extinguishment of debt | 0 | $ 649,000,000 | $ 0 | 649,000,000 | $ 0 | ||||
Loss on extinguishment of debt, premiums and fees | 623,000,000 | ||||||||
Write-off of amortized debt discounts and issuance costs, debt extinguishment | $ 26,000,000 | ||||||||
Accrued interest on long-term debt | 206,000,000 | $ 206,000,000 | $ 458,000,000 | ||||||
Senior Notes [Member] | USD Denominated Notes [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Face amount | $ 5,500,000,000 | ||||||||
Repayments of senior unsecured debt | $ 1,500,000,000 | ||||||||
Senior Notes [Member] | USD Denominated Notes Due 2032 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Face amount | $ 1,750,000,000 | ||||||||
Debt instrument, interest rate, stated percentage | 2.45% | ||||||||
Senior Notes [Member] | USD Denominated Notes Due 2041 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Face amount | $ 1,500,000,000 | ||||||||
Debt instrument, interest rate, stated percentage | 3.40% | ||||||||
Senior Notes [Member] | USD Denominated Notes Due 2051 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Face amount | $ 1,250,000,000 | ||||||||
Debt instrument, interest rate, stated percentage | 3.70% | ||||||||
Senior Notes [Member] | USD Denominated Notes Due 2061 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Face amount | $ 1,000,000,000 | ||||||||
Debt instrument, interest rate, stated percentage | 4.00% | ||||||||
Senior Notes [Member] | USD Denominated Notes, 3.490 Percent, Due 2022 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt instrument, interest rate, stated percentage | 3.49% | ||||||||
Long-term debt repaid | $ 1,000,000,000 | ||||||||
Revolving Credit Facility [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt instrument, covenant, consolidated EBITDA to interest expense ratio, minimum | 4 | ||||||||
Debt instrument, consolidated EBITDA to interest expense ratio | 9.8 | ||||||||
Revolving Credit Facility [Member] | Line of Credit [Member] | Revolving Credit Facility Due August 2024 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Face amount | $ 3,000,000,000 | $ 3,000,000,000 | |||||||
Debt instrument, term | 5 years | ||||||||
Debt instrument, extension term | 1 year | ||||||||
Proceeds from issuance of debt | $ 3,000,000,000 | ||||||||
London Interbank Offered Rate (LIBOR) [Member] | Revolving Credit Facility [Member] | Line of Credit [Member] | Revolving Credit Facility Due August 2024 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt instrument, basis spread on variable rate | 1.00% | ||||||||
Debt Instrument, Redemption, Period One [Member] | Senior Notes [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Debt instrument, redemption price, percentage | 101.00% |
Debt (Tender Offers) (Details)
Debt (Tender Offers) (Details) - Senior Notes [Member] $ in Millions | Sep. 30, 2021USD ($) |
Debt Instrument [Line Items] | |
Debt instrument, repurchased face amount | $ 4,042 |
2.850%, Notes Due 2022 [Member] | |
Debt Instrument [Line Items] | |
Debt instrument, repurchased face amount | $ 795 |
Debt instrument, interest rate, stated percentage | 2.85% |
2.950%, Notes Due 2023 [Member] | |
Debt Instrument [Line Items] | |
Debt instrument, repurchased face amount | $ 132 |
Debt instrument, interest rate, stated percentage | 2.95% |
4.000%, Notes Due 2024 [Member] | |
Debt Instrument [Line Items] | |
Debt instrument, repurchased face amount | $ 624 |
Debt instrument, interest rate, stated percentage | 4.00% |
3.800%, Notes Due 2024 [Member] | |
Debt Instrument [Line Items] | |
Debt instrument, repurchased face amount | $ 655 |
Debt instrument, interest rate, stated percentage | 3.80% |
4.400%, Notes Due 2026 [Member] | |
Debt Instrument [Line Items] | |
Debt instrument, repurchased face amount | $ 430 |
Debt instrument, interest rate, stated percentage | 4.40% |
4.800%, Notes Due 2029 [Member] | |
Debt Instrument [Line Items] | |
Debt instrument, repurchased face amount | $ 1,094 |
Debt instrument, interest rate, stated percentage | 4.80% |
9.950%, Notes Due 2038 [Member] | |
Debt Instrument [Line Items] | |
Debt instrument, repurchased face amount | $ 65 |
Debt instrument, interest rate, stated percentage | 9.95% |
10.200%, Notes Due 2039 [Member] | |
Debt Instrument [Line Items] | |
Debt instrument, repurchased face amount | $ 18 |
Debt instrument, interest rate, stated percentage | 10.20% |
6.200%, Notes Due 2059 [Member] | |
Debt Instrument [Line Items] | |
Debt instrument, repurchased face amount | $ 229 |
Debt instrument, interest rate, stated percentage | 6.20% |
Income Taxes - Summary of Incom
Income Taxes - Summary of Income Taxes (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Income Tax Disclosure [Abstract] | ||||
Earnings (losses) before income taxes | $ (3,302) | $ (324) | $ 1,544 | $ 4,349 |
Provision (benefit) for income taxes | $ (582) | $ 632 | $ 693 | $ 1,817 |
Income tax rate | 17.60% | (195.10%) | 44.90% | 41.80% |
Income Taxes - Narrative (Detai
Income Taxes - Narrative (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Investments [Line Items] | |||||
Impairment of JUUL equity securities | $ 0 | $ 2,600,000,000 | $ 0 | $ 2,600,000,000 | |
ABI [Member] | |||||
Investments [Line Items] | |||||
Equity method investment, impairment | $ 6,157,000,000 | $ 6,157,000,000 | $ 0 | ||
JUUL [Member] | |||||
Investments [Line Items] | |||||
Impairment of JUUL equity securities | $ 2,600,000,000 | $ 2,600,000,000 |
Income Taxes (Details)
Income Taxes (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2021USD ($) | |
Valuation Allowance Rollforward [Roll Forward] | |
Balance at beginning of year | $ 2,817 |
Additions to valuation allowance charged to income tax expense | 264 |
Reductions to valuation allowance credited to income tax benefit | (73) |
Foreign currency translation | (4) |
Balance at end of period | $ 3,004 |
Contingencies (General Informat
Contingencies (General Information) (Details) | Sep. 30, 2021state |
Commitments and Contingencies Disclosure [Abstract] | |
Number of states that cap bond or require no bond | 47 |
Contingencies (Judgments Paid a
Contingencies (Judgments Paid and Provisions for Tobacco and Health Litigation) (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | 204 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | |
Loss Contingency Accrual [Roll Forward] | |||||
Accrued liability for tobacco and health litigation items at beginning of period | $ 0 | $ 22 | $ 9 | $ 14 | |
Payments | (8) | (47) | (60) | (81) | |
Accrued liability for tobacco and health litigation items at end of period | 97 | 9 | 97 | 9 | $ 97 |
Related Interest Costs [Member] | |||||
Loss Contingency Accrual [Roll Forward] | |||||
Provision related to litigation recorded | 6 | 0 | 6 | 3 | |
Assets [Member] | Pending Litigation [Member] | PM USA [Member] | |||||
Loss Contingency Accrual [Roll Forward] | |||||
Security posted for appeal of judgments | 45 | 45 | 45 | ||
Tobacco and Health Judgment [Member] | |||||
Loss Contingencies [Line Items] | |||||
Judgments paid (approximately) | 865 | ||||
Litigation settlement interest expense (income) | 218 | ||||
Tobacco and Health Judgment [Member] | Tobacco and Health and Certain Other Litigation [Member] | |||||
Loss Contingency Accrual [Roll Forward] | |||||
Provision related to litigation recorded | $ 99 | $ 34 | $ 142 | $ 73 | |
Engle Progeny Cases [Member] | |||||
Loss Contingencies [Line Items] | |||||
Judgments paid (approximately) | 410 | ||||
Litigation settlement interest expense (income) | $ 56 |
Contingencies (Schedule of Pend
Contingencies (Schedule of Pending Cases) (Details) | Oct. 25, 2021claimcaselawsuit | Oct. 27, 2020claim | Oct. 28, 2019claim |
Individual Smoking and Health Cases [Member] | |||
Loss Contingencies [Line Items] | |||
Number of cases pending | 142 | 95 | |
Health Care Cost Recovery Actions [Member] | |||
Loss Contingencies [Line Items] | |||
Number of cases pending | 1 | 1 | |
E-vapor Litigation [Member] | |||
Loss Contingencies [Line Items] | |||
Number of cases pending | 1,145 | 0 | |
Other Tabacco-Related Cases [Member] | |||
Loss Contingencies [Line Items] | |||
Number of cases pending | 4 | 4 | |
Subsequent Event [Member] | |||
Loss Contingencies [Line Items] | |||
Loss contingency, class action lawsuit | lawsuit | 16 | ||
Subsequent Event [Member] | Individual Smoking and Health Cases [Member] | |||
Loss Contingencies [Line Items] | |||
Number of cases pending | 179 | ||
Subsequent Event [Member] | Individual Smoking and Health Cases [Member] | Pending Litigation [Member] | Illinois [Member] | |||
Loss Contingencies [Line Items] | |||
Number of cases pending | 18 | ||
Subsequent Event [Member] | Individual Smoking and Health Cases [Member] | Pending Litigation [Member] | New Mexico [Member] | |||
Loss Contingencies [Line Items] | |||
Number of cases pending | 17 | ||
Subsequent Event [Member] | Individual Smoking and Health Cases [Member] | Pending Litigation [Member] | Massachusetts [Member] | |||
Loss Contingencies [Line Items] | |||
Number of cases pending | 40 | ||
Subsequent Event [Member] | Individual Smoking and Health Cases [Member] | Pending Litigation [Member] | Florida [Member] | |||
Loss Contingencies [Line Items] | |||
Number of cases pending | 70 | ||
Subsequent Event [Member] | ETS Smoking and Health Case, Flight Attendants [Member] | Pending Litigation [Member] | |||
Loss Contingencies [Line Items] | |||
Number of cases | case | 1,471 | ||
Subsequent Event [Member] | Health Care Cost Recovery Actions [Member] | |||
Loss Contingencies [Line Items] | |||
Number of cases pending | 1 | ||
Subsequent Event [Member] | E-vapor Litigation [Member] | |||
Loss Contingencies [Line Items] | |||
Number of cases pending | 2,951 | ||
Loss contingency, class action lawsuit | lawsuit | 53 | ||
Subsequent Event [Member] | E-vapor Litigation [Member] | Pending Individual Lawsuits [Member] | |||
Loss Contingencies [Line Items] | |||
Number of cases pending | 2,548 | ||
Subsequent Event [Member] | E-vapor Litigation [Member] | Pending Lawsuits Filed By State Or Local Governments [Member] | |||
Loss Contingencies [Line Items] | |||
Number of cases pending | 350 | ||
Subsequent Event [Member] | Other Tabacco-Related Cases [Member] | |||
Loss Contingencies [Line Items] | |||
Number of cases pending | 3 | ||
Loss contingency, number of inactive cases | case | 1 | ||
Loss contingency, number of inactive class action lawsuits | case | 2 |
Contingencies (Overview of Altr
Contingencies (Overview of Altria and/or PM USA Tobacco-Related Litigation Narrative) (Details) | Oct. 25, 2021claimcase | Oct. 25, 2021caseclaim | Oct. 27, 2020claim | Oct. 28, 2019claim | Jan. 31, 2008claim |
Health Care Cost Recovery Actions [Member] | |||||
Loss Contingencies [Line Items] | |||||
Number of cases pending | claim | 1 | 1 | |||
Engle Progeny Cases [Member] | |||||
Loss Contingencies [Line Items] | |||||
Number of cases pending | claim | 9,300 | ||||
Subsequent Event [Member] | Health Care Cost Recovery Actions [Member] | |||||
Loss Contingencies [Line Items] | |||||
Number of cases pending | claim | 1 | 1 | |||
Subsequent Event [Member] | Health Care Cost Recovery Actions [Member] | Canada [Member] | |||||
Loss Contingencies [Line Items] | |||||
Number of cases pending | claim | 3 | 3 | |||
Subsequent Event [Member] | Smoking and Health Class Actions and Aggregated Claims Litigation [Member] | |||||
Loss Contingencies [Line Items] | |||||
Number of cases pending | claim | 1 | 1 | |||
Subsequent Event [Member] | PM USA [Member] | Health Care Cost Recovery Actions [Member] | Canada [Member] | |||||
Loss Contingencies [Line Items] | |||||
Number of cases pending | claim | 10 | 10 | |||
Subsequent Event [Member] | PM USA [Member] | Engle Progeny Cases [Member] | |||||
Loss Contingencies [Line Items] | |||||
Number of cases set for trial | 0 | 0 | |||
Number of verdicts returned | 137 | ||||
Number of favorable verdicts | 54 | ||||
Number of unfavorable verdicts | 76 | ||||
Subsequent Event [Member] | PM USA [Member] | Non Engle Progeny Cases [Member] | |||||
Loss Contingencies [Line Items] | |||||
Number of verdicts returned | 69 | ||||
Number of favorable verdicts | 44 | ||||
Number of unfavorable verdicts | 25 | ||||
Number of claims resolved | 20 | ||||
Number of verdicts reversed | 2 | ||||
Subsequent Event [Member] | PM USA [Member] | Non Engle Progeny Cases [Member] | Alaska [Member] | |||||
Loss Contingencies [Line Items] | |||||
Number of favorable verdicts | 1 | ||||
Subsequent Event [Member] | PM USA [Member] | Non Engle Progeny Cases [Member] | California [Member] | |||||
Loss Contingencies [Line Items] | |||||
Number of favorable verdicts | 7 | ||||
Subsequent Event [Member] | PM USA [Member] | Non Engle Progeny Cases [Member] | Connecticut [Member] | |||||
Loss Contingencies [Line Items] | |||||
Number of favorable verdicts | 1 | ||||
Subsequent Event [Member] | PM USA [Member] | Non Engle Progeny Cases [Member] | Florida [Member] | |||||
Loss Contingencies [Line Items] | |||||
Number of favorable verdicts | 10 | ||||
Subsequent Event [Member] | PM USA [Member] | Non Engle Progeny Cases [Member] | Louisiana [Member] | |||||
Loss Contingencies [Line Items] | |||||
Number of favorable verdicts | 1 | ||||
Subsequent Event [Member] | PM USA [Member] | Non Engle Progeny Cases [Member] | Massachusetts [Member] | |||||
Loss Contingencies [Line Items] | |||||
Number of favorable verdicts | 4 | ||||
Subsequent Event [Member] | PM USA [Member] | Non Engle Progeny Cases [Member] | Mississippi [Member] | |||||
Loss Contingencies [Line Items] | |||||
Number of favorable verdicts | 1 | ||||
Subsequent Event [Member] | PM USA [Member] | Non Engle Progeny Cases [Member] | Missouri [Member] | |||||
Loss Contingencies [Line Items] | |||||
Number of favorable verdicts | 4 | ||||
Subsequent Event [Member] | PM USA [Member] | Non Engle Progeny Cases [Member] | New Hampshire [Member] | |||||
Loss Contingencies [Line Items] | |||||
Number of favorable verdicts | 1 | ||||
Subsequent Event [Member] | PM USA [Member] | Non Engle Progeny Cases [Member] | New Jersey [Member] | |||||
Loss Contingencies [Line Items] | |||||
Number of favorable verdicts | 1 | ||||
Subsequent Event [Member] | PM USA [Member] | Non Engle Progeny Cases [Member] | New York [Member] | |||||
Loss Contingencies [Line Items] | |||||
Number of favorable verdicts | 5 | ||||
Subsequent Event [Member] | PM USA [Member] | Non Engle Progeny Cases [Member] | Ohio [Member] | |||||
Loss Contingencies [Line Items] | |||||
Number of favorable verdicts | 2 | ||||
Subsequent Event [Member] | PM USA [Member] | Non Engle Progeny Cases [Member] | Pennsylvania [Member] | |||||
Loss Contingencies [Line Items] | |||||
Number of favorable verdicts | 1 | ||||
Subsequent Event [Member] | PM USA [Member] | Non Engle Progeny Cases [Member] | Rhode Island [Member] | |||||
Loss Contingencies [Line Items] | |||||
Number of favorable verdicts | 1 | ||||
Subsequent Event [Member] | PM USA [Member] | Non Engle Progeny Cases [Member] | Tennessee [Member] | |||||
Loss Contingencies [Line Items] | |||||
Number of favorable verdicts | 2 | ||||
Subsequent Event [Member] | PM USA [Member] | Non Engle Progeny Cases [Member] | West Virginia [Member] | |||||
Loss Contingencies [Line Items] | |||||
Number of favorable verdicts | 2 | ||||
Subsequent Event [Member] | Philip Morris USA and Altria Group [Member] | Health Care Cost Recovery Actions [Member] | Canada [Member] | |||||
Loss Contingencies [Line Items] | |||||
Number of cases pending | claim | 8 | 8 | |||
Subsequent Event [Member] | Philip Morris USA and Altria Group [Member] | Smoking and Health Class Actions and Aggregated Claims Litigation [Member] | Canada [Member] | |||||
Loss Contingencies [Line Items] | |||||
Number of cases pending | claim | 7 | 7 |
Contingencies (Non-Engle Progen
Contingencies (Non-Engle Progeny Litigation) (Details) - USD ($) | 1 Months Ended | ||||||
Sep. 30, 2021 | Feb. 28, 2021 | May 31, 2020 | Feb. 29, 2020 | Sep. 30, 2019 | Aug. 31, 2019 | Oct. 31, 2017 | |
Non-Engle Progeny Smoking And Health Case, Principe [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Compensatory damages awarded | $ 11,000,000 | ||||||
Punitive damages awarded | $ 0 | ||||||
Non-Engle Progeny Smoking and Health Case, Greene [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Compensatory damages awarded | $ 2,300,000 | $ 30,000,000 | $ 10,000,000 | ||||
Non-Engle Progeny Smoking and Health Case, Laramie [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Compensatory damages awarded | $ 11,000,000 | ||||||
Punitive damages awarded | $ 10,000,000 | ||||||
Damages awarded, value | $ 21,000,000 | ||||||
Provision related to litigation recorded | $ 27,100,000 | ||||||
Non-Engle Progeny Smoking and Health Case, Gentile [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Compensatory damages awarded | $ 7,100,000 | ||||||
Non-Engle Progeny Smoking and Health Case, Gentile [Member] | PM USA [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Compensatory damages award, allocation percentage | 75.00% |
Contingencies (Engle Class Acti
Contingencies (Engle Class Action And Engle Progeny Trial Results) (Details) | Oct. 25, 2021USD ($)claimcaseplantiff | Jul. 31, 2006 | Jan. 31, 2008claim | Jul. 31, 2000USD ($) |
Engle Progeny Cases [Member] | ||||
Loss Contingencies [Line Items] | ||||
Punitive damages awarded | $ | $ 145,000,000,000 | |||
Number of cases pending | claim | 9,300 | |||
Engle Progeny Cases [Member] | PM USA [Member] | ||||
Loss Contingencies [Line Items] | ||||
Punitive damages awarded | $ | $ 74,000,000,000 | |||
Loss contingency, period for decertified class members to file individual actions against defendants | 1 year | |||
Subsequent Event [Member] | PM USA [Member] | ||||
Loss Contingencies [Line Items] | ||||
Provision recorded, number of cases | 0 | |||
Subsequent Event [Member] | Engle Progeny Cases [Member] | PM USA [Member] | ||||
Loss Contingencies [Line Items] | ||||
Number of verdicts returned | 137 | |||
Number of unfavorable verdicts | 76 | |||
Number of claims with unfavorable verdicts pending/reversed | 7 | |||
Number of favorable verdicts | 54 | |||
Subsequent Event [Member] | Engle Progeny Cases, State [Member] | ||||
Loss Contingencies [Line Items] | ||||
Number of cases pending | claim | 1,026 | |||
Number of plaintiffs | plantiff | 1,285 | |||
Subsequent Event [Member] | Engle Progeny Cases, State [Member] | PM USA [Member] | ||||
Loss Contingencies [Line Items] | ||||
Number of favorable verdicts | 44 | |||
Subsequent Event [Member] | Engle Progeny Cases, Federal [Member] | PM USA [Member] | ||||
Loss Contingencies [Line Items] | ||||
Number of cases pending | claim | 2 | |||
Subsequent Event [Member] | Engle Progeny Cases, Pearson, D Cohen, Collar, Chacon [Member] | PM USA [Member] | ||||
Loss Contingencies [Line Items] | ||||
Number of verdicts reversed | 4 | |||
Subsequent Event [Member] | Engle Progeny Cases, Reider and Banks [Member] | PM USA [Member] | ||||
Loss Contingencies [Line Items] | ||||
Zero damages verdicts | 2 | |||
Damages awarded, value | $ | $ 0 | |||
Subsequent Event [Member] | Engle Progeny Cases, Weingart and Hancock [Member] | PM USA [Member] | ||||
Loss Contingencies [Line Items] | ||||
Damages awarded, value | $ | $ 0 | |||
Zero damages verdict modified | 2 | |||
Subsequent Event [Member] | Engle Progeny Cases, Pollari [Member] | PM USA [Member] | ||||
Loss Contingencies [Line Items] | ||||
Number of favorable verdicts | 1 | |||
Subsequent Event [Member] | Engle Progeny Cases, Gloger, Rintoul and Duignam [Member] | PM USA [Member] | ||||
Loss Contingencies [Line Items] | ||||
Number of favorable verdicts | 3 | |||
Subsequent Event [Member] | Engle Progeny Cases, Freeman [Member] | PM USA [Member] | ||||
Loss Contingencies [Line Items] | ||||
Number of favorable verdicts | 2 |
Contingencies (Engle Progeny Ca
Contingencies (Engle Progeny Cases Trial Results - Pending and Concluded) (Details) $ in Millions | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||||||||||||||
Jul. 31, 2021USD ($) | May 31, 2021USD ($) | Apr. 29, 2021USD ($) | Mar. 31, 2021USD ($) | Jun. 30, 2020USD ($) | Dec. 31, 2018USD ($) | Sep. 30, 2021USD ($)case | Feb. 29, 2020USD ($) | Jan. 31, 2020USD ($) | Nov. 30, 2019USD ($) | Mar. 31, 2019USD ($) | Feb. 28, 2019USD ($) | Sep. 30, 2018USD ($) | Jul. 31, 2018USD ($) | Nov. 30, 2017USD ($) | Apr. 30, 2017USD ($) | Sep. 30, 2015USD ($) | Jan. 31, 2015USD ($) | |
Engle Progeny Cases, Lipp [Member] | Pending Litigation [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Compensatory damages awarded | $ 15 | |||||||||||||||||
Engle Progeny Cases, Lipp [Member] | Pending Litigation [Member] | PM USA [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Punitive damages awarded | 28 | |||||||||||||||||
Engle Progeny Cases, Garcia [Member] | Pending Litigation [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Compensatory damages awarded | $ 3 | |||||||||||||||||
Engle Progeny Cases, Duignan [Member] | Pending Litigation [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Compensatory damages awarded | $ 3 | |||||||||||||||||
Engle Progeny Cases, Duignan [Member] | Pending Litigation [Member] | PM USA [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Punitive damages awarded | $ 12 | |||||||||||||||||
Engle Progeny Cases, Cuddihee [Member] | Pending Litigation [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Compensatory damages awarded | $ 3 | |||||||||||||||||
Engle Progeny Cases, Cuddihee [Member] | Pending Litigation [Member] | PM USA [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Punitive damages awarded | $ 0 | |||||||||||||||||
Engle Progeny Cases, Rintoul [Member] | Pending Litigation [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Compensatory damages awarded | $ 9 | |||||||||||||||||
Engle Progeny Cases, Rintoul [Member] | Pending Litigation [Member] | PM USA [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Punitive damages awarded | 74 | |||||||||||||||||
Engle Progeny Cases, Gloger [Member] | Pending Litigation [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Compensatory damages awarded | 15 | |||||||||||||||||
Engle Progeny Cases, Gloger [Member] | Pending Litigation [Member] | PM USA [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Punitive damages awarded | $ 11 | |||||||||||||||||
Engle Progeny Cases, McCall [Member] | Pending Litigation [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Compensatory damages awarded | $ 1 | |||||||||||||||||
Engle Progeny Cases, McCall [Member] | Pending Litigation [Member] | PM USA [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Compensatory damages awarded | 1 | |||||||||||||||||
Punitive damages awarded | 0 | |||||||||||||||||
Engle Progeny Cases, Neff [Member] | Pending Litigation [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Compensatory damages awarded | 4 | |||||||||||||||||
Engle Progeny Cases, Neff [Member] | Pending Litigation [Member] | PM USA [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Punitive damages awarded | $ 2 | |||||||||||||||||
Engle Progeny Cases, Mahfuz [Member] | Pending Litigation [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Compensatory damages awarded | $ 12 | |||||||||||||||||
Engle Progeny Cases, Mahfuz [Member] | Pending Litigation [Member] | PM USA [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Punitive damages awarded | 10 | |||||||||||||||||
Engle Progeny Cases, Holliman [Member] | Pending Litigation [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Compensatory damages awarded | 3 | |||||||||||||||||
Engle Progeny Cases, Holliman [Member] | Pending Litigation [Member] | PM USA [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Punitive damages awarded | $ 0 | |||||||||||||||||
Engle Progeny Cases, Chadwell [Member] | Pending Litigation [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Compensatory damages awarded | $ 2 | |||||||||||||||||
Engle Progeny Cases, Chadwell [Member] | Pending Litigation [Member] | PM USA [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Punitive damages awarded | $ 0 | |||||||||||||||||
Engle Progeny Cases, Kaplan [Member] | Pending Litigation [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Compensatory damages awarded | $ 2 | |||||||||||||||||
Engle Progeny Cases, Kaplan [Member] | Pending Litigation [Member] | PM USA [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Punitive damages awarded | $ 2 | |||||||||||||||||
Engle Progeny Cases, R. Douglas [Member] | Pending Litigation [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Compensatory damages awarded | $ 1 | |||||||||||||||||
Engle Progeny Cases, R. Douglas [Member] | Pending Litigation [Member] | PM USA [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Punitive damages awarded | $ 0 | |||||||||||||||||
Engle Progeny Cases, Sommers [Member] | Pending Litigation [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Compensatory damages awarded | $ 1 | |||||||||||||||||
Provision related to litigation recorded | 1 | |||||||||||||||||
Damages awarded, value | $ 3 | |||||||||||||||||
Engle Progeny Cases, Sommers [Member] | Pending Litigation [Member] | PM USA [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Punitive damages awarded | $ 0 | |||||||||||||||||
Engle Progeny Cases, Cooper [Member] | Pending Litigation [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Compensatory damages awarded | $ 5 | |||||||||||||||||
Engle Progeny Cases, Cooper [Member] | Pending Litigation [Member] | PM USA [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Compensatory damages awarded | 1 | |||||||||||||||||
Punitive damages awarded | $ 0 | |||||||||||||||||
Engle Progeny Cases, D. Brown [Member] | Pending Litigation [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Compensatory damages awarded | $ 8 | |||||||||||||||||
Engle Progeny Cases, D. Brown [Member] | Pending Litigation [Member] | PM USA [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Punitive damages awarded | $ 9 | |||||||||||||||||
Engle Progeny Cases, Berger [Member] | Settled Litigation [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Damages awarded, value | $ 29 | $ 29 | ||||||||||||||||
Engle Progeny Cases, Santoro [Member] | Settled Litigation [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Damages awarded, value | $ 1 | $ 1 | ||||||||||||||||
Engle Progeny Cases, Naugle, Gore, M. Brown, Jordan, Theis and Landi [Member] | PM USA [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Loss contingency, number of cases with payments a year or more ago | case | 6 | |||||||||||||||||
Engle Progeny Cases, Naugle [Member] | PM USA [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Damages awarded, value | $ 8 | |||||||||||||||||
Engle Progeny Cases, Gore [Member] | PM USA [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Damages awarded, value | 2 | |||||||||||||||||
Engle Progeny Cases, M. Brown [Member] | PM USA [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Damages awarded, value | 8 | |||||||||||||||||
Judgments paid (approximately) | $ 8.2 | |||||||||||||||||
Engle Progeny Cases, Jordan [Member] | PM USA [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Damages awarded, value | 4 | |||||||||||||||||
Engle Progeny Cases, Theis [Member] | PM USA [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Damages awarded, value | 1 | |||||||||||||||||
Judgments paid (approximately) | $ 1 | |||||||||||||||||
Engle Progeny Cases, Landi [Member] | PM USA [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Damages awarded, value | $ 3 | |||||||||||||||||
Judgments paid (approximately) | $ 1.5 | |||||||||||||||||
Engle Progeny Cases, R.J. Reynolds [Member] | PM USA [Member] | ||||||||||||||||||
Loss Contingencies [Line Items] | ||||||||||||||||||
Damages awarded, value | 3 | |||||||||||||||||
Judgments paid (approximately) | $ 1.5 |
Contingencies (Florida Bond Sta
Contingencies (Florida Bond Statute) (Details) | Jun. 30, 2009USD ($) |
Florida [Member] | Engle Progeny Cases, State [Member] | |
Loss Contingencies [Line Items] | |
Maximum bond for all defendants | $ 200,000,000 |
Contingencies (Other Smoking an
Contingencies (Other Smoking and Health Class Actions) (Details) - Smoking and Health Class Actions and Aggregated Claims Litigation [Member] $ in Billions | 1 Months Ended | 305 Months Ended | |
Mar. 31, 2019CAD ($)manufactureruling | Sep. 30, 2021casemanufacture | Oct. 25, 2021claim | |
Subsequent Event [Member] | |||
Loss Contingencies [Line Items] | |||
Number of cases pending | claim | 1 | ||
PM USA [Member] | |||
Loss Contingencies [Line Items] | |||
Class not certified | 61 | ||
Arkansas [Member] | PM USA [Member] | |||
Loss Contingencies [Line Items] | |||
Class not certified | 1 | ||
California [Member] | PM USA [Member] | |||
Loss Contingencies [Line Items] | |||
Class not certified | 1 | ||
Delaware [Member] | PM USA [Member] | |||
Loss Contingencies [Line Items] | |||
Class not certified | 1 | ||
District of Columbia [Member] | PM USA [Member] | |||
Loss Contingencies [Line Items] | |||
Class not certified | 2 | ||
Florida [Member] | PM USA [Member] | |||
Loss Contingencies [Line Items] | |||
Class not certified | 2 | ||
Illinois [Member] | PM USA [Member] | |||
Loss Contingencies [Line Items] | |||
Class not certified | 3 | ||
Iowa [Member] | PM USA [Member] | |||
Loss Contingencies [Line Items] | |||
Class not certified | 1 | ||
Kansas [Member] | PM USA [Member] | |||
Loss Contingencies [Line Items] | |||
Class not certified | 1 | ||
Louisiana [Member] | PM USA [Member] | |||
Loss Contingencies [Line Items] | |||
Class not certified | 1 | ||
Maryland [Member] | PM USA [Member] | |||
Loss Contingencies [Line Items] | |||
Class not certified | 1 | ||
Michigan [Member] | PM USA [Member] | |||
Loss Contingencies [Line Items] | |||
Class not certified | 1 | ||
Minnesota [Member] | PM USA [Member] | |||
Loss Contingencies [Line Items] | |||
Class not certified | 1 | ||
Nevada [Member] | PM USA [Member] | |||
Loss Contingencies [Line Items] | |||
Class not certified | 29 | ||
New Jersey [Member] | PM USA [Member] | |||
Loss Contingencies [Line Items] | |||
Class not certified | 6 | ||
New York [Member] | PM USA [Member] | |||
Loss Contingencies [Line Items] | |||
Class not certified | 2 | ||
Ohio [Member] | PM USA [Member] | |||
Loss Contingencies [Line Items] | |||
Class not certified | 1 | ||
Oklahoma [Member] | PM USA [Member] | |||
Loss Contingencies [Line Items] | |||
Class not certified | 1 | ||
Oregon [Member] | PM USA [Member] | |||
Loss Contingencies [Line Items] | |||
Class not certified | 1 | ||
Pennsylvania [Member] | PM USA [Member] | |||
Loss Contingencies [Line Items] | |||
Class not certified | 1 | ||
Puerto Rico [Member] | PM USA [Member] | |||
Loss Contingencies [Line Items] | |||
Class not certified | 1 | ||
South Carolina [Member] | PM USA [Member] | |||
Loss Contingencies [Line Items] | |||
Class not certified | 1 | ||
Texas [Member] | PM USA [Member] | |||
Loss Contingencies [Line Items] | |||
Class not certified | 1 | ||
Wisconsin [Member] | PM USA [Member] | |||
Loss Contingencies [Line Items] | |||
Class not certified | 1 | ||
Canada [Member] | Philip Morris USA and Altria Group [Member] | Subsequent Event [Member] | |||
Loss Contingencies [Line Items] | |||
Number of cases pending | claim | 7 | ||
Canada [Member] | Canadian Tobacco Manufacturers [Member] | |||
Loss Contingencies [Line Items] | |||
Number of manufacturers | manufacture | 3 | 3 | |
Number of verdicts upheld | ruling | 2 | ||
Amount awarded to other party | $ | $ 13 | ||
Canada [Member] | Altria Group [Member] | |||
Loss Contingencies [Line Items] | |||
Number of manufacturers | manufacture | 0 | ||
British Columbia and Saskatchewan [Member] | Philip Morris USA and Altria Group [Member] | Subsequent Event [Member] | |||
Loss Contingencies [Line Items] | |||
Number of cases pending | claim | 2 |
Contingencies (Health Care Cost
Contingencies (Health Care Cost Recovery Litigation) (Details) | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||||
Nov. 30, 1998USD ($)state | Sep. 30, 2021USD ($)claimmanufacture | Sep. 30, 2020USD ($) | Sep. 30, 2021USD ($)claimmanufacture | Sep. 30, 2020USD ($) | Oct. 27, 2020claim | Oct. 28, 2019claim | Mar. 31, 2019manufacture | |
Health Care Cost Recovery Actions [Member] | ||||||||
Loss Contingencies [Line Items] | ||||||||
Number of cases pending | claim | 1 | 1 | ||||||
Number of states with settled litigation | state | 46 | |||||||
State settlement agreements annual payments | $ 9,400,000,000 | |||||||
State settlement agreements attorney fees annual cap | $ 500,000,000 | |||||||
Litigation settlement | $ 1,100,000,000 | $ 1,200,000,000 | $ 3,200,000,000 | $ 3,300,000,000 | ||||
Threatened Litigation [Member] | Canada [Member] | Health Care Cost Recovery Actions [Member] | ||||||||
Loss Contingencies [Line Items] | ||||||||
Number of cases pending | claim | 10 | 10 | ||||||
Canadian Tobacco Manufacturers [Member] | Canada [Member] | Smoking and Health Class Actions and Aggregated Claims Litigation [Member] | ||||||||
Loss Contingencies [Line Items] | ||||||||
Number of manufacturers | manufacture | 3 | 3 | 3 |
Contingencies (NPM Adjustment D
Contingencies (NPM Adjustment Disputes) (Details) $ in Millions | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2021USD ($)state | Sep. 30, 2020USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2018USD ($)state | Dec. 31, 2015USD ($) | |
Health Care Cost Recovery Actions [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Litigation settlement | $ 1,100 | $ 1,200 | $ 3,200 | $ 3,300 | |||
PM USA [Member] | Health Care Cost Recovery Actions [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Loss contingency, number of states with settled litigation including New York, subsequent expansion | state | 36 | ||||||
Loss contingency, credits to offset payments | $ 1,030 | ||||||
Litigation settlement, amount expected to be awarded from other party | 320 | ||||||
PM USA [Member] | Health Care Cost Recovery Actions [Member] | Settled Litigation [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Loss contingency, number of additional states extended with settled litigation | state | 35 | ||||||
PM USA [Member] | Health Care Cost Recovery Actions [Member] | Pending Litigation [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Loss contingency, number of additional states extended with settled litigation | state | 1 | ||||||
PM USA [Member] | Health Care Cost Recovery Actions, 2004 NPM Adjustment [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Estimate of possible gain | $ 388 | ||||||
PM USA [Member] | Health Care Cost Recovery Actions, 2004 NPM Adjustment [Member] | Pending Litigation [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Loss contingency, number of states not settled | state | 10 | ||||||
Loss contingency, number of states with concluded hearings | state | 9 | ||||||
Loss contingency, number of states not in compliance with escrow statues | state | 2 | ||||||
Loss contingency, number of states in compliance with escrow statues | state | 7 | ||||||
Loss contingency, damages sought, value | $ 23 | ||||||
PM USA [Member] | Health Care Cost Recovery Actions, 2004 NPM Adjustment [Member] | Pending Litigation [Member] | Cost of Sales [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Loss contingency, reduction to cost of sales | $ 21 | ||||||
PM USA [Member] | Health Care Cost Recovery Actions, 2005 NPM Adjustment [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Estimate of possible gain | 181 | ||||||
PM USA [Member] | Health Care Cost Recovery Actions, 2006 NPM Adjustment [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Estimate of possible gain | 154 | ||||||
PM USA [Member] | Health Care Cost Recovery Actions, 2007 NPM Adjustment [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Estimate of possible gain | 185 | ||||||
PM USA [Member] | Health Care Cost Recovery Actions, 2008 NPM Adjustment [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Estimate of possible gain | 250 | ||||||
PM USA [Member] | Health Care Cost Recovery Actions, 2009 NPM Adjustment [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Estimate of possible gain | 211 | ||||||
PM USA [Member] | Health Care Cost Recovery Actions, 2010 NPM Adjustment [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Estimate of possible gain | 218 | ||||||
PM USA [Member] | Health Care Cost Recovery Actions, 2011 NPM Adjustment [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Estimate of possible gain | 166 | ||||||
PM USA [Member] | Health Care Cost Recovery Actions, 2012 NPM Adjustment [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Estimate of possible gain | 214 | ||||||
PM USA [Member] | Health Care Cost Recovery Actions, 2013 NPM Adjustment [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Estimate of possible gain | 224 | ||||||
PM USA [Member] | Health Care Cost Recovery Actions, 2014 NPM Adjustment [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Estimate of possible gain | 258 | ||||||
PM USA [Member] | Health Care Cost Recovery Actions, 2015 NPM Adjustments [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Estimate of possible gain | 313 | ||||||
PM USA [Member] | Health Care Cost Recovery Actions, 2016 NPM Adjustments [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Estimate of possible gain | 292 | ||||||
PM USA [Member] | Health Care Cost Recovery Actions, 2017 NPM Adjustments [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Estimate of possible gain | 302 | ||||||
PM USA [Member] | Health Care Cost Recovery Actions, 2018 NPM Adjustments [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Estimate of possible gain | 325 | ||||||
PM USA [Member] | Health Care Cost Recovery Actions, 2019 NPM Adjustments [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Estimate of possible gain | 444 | ||||||
PM USA [Member] | Health Care Cost Recovery Actions, 2020 NPM Adjustments [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Estimate of possible gain | $ 572 | ||||||
PM USA [Member] | Health Care Cost Recovery Actions, 2005-2007 NPM Adjustment | Pending Litigation [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Loss contingency, number of states not settled | state | 10 | ||||||
PM USA [Member] | Health Care Cost Recovery Actions, 2005-2007 NPM Adjustment | Pending Litigation [Member] | Period One | |||||||
Loss Contingencies [Line Items] | |||||||
Loss contingency, number of states not settled | state | 9 | ||||||
Loss contingency, number of states not settled, arbitration period | 3 years | ||||||
PM USA [Member] | Health Care Cost Recovery Actions, 2005-2007 NPM Adjustment | Pending Litigation [Member] | Period Two | |||||||
Loss Contingencies [Line Items] | |||||||
Loss contingency, number of states not settled | state | 1 | ||||||
Loss contingency, number of states not settled, arbitration period | 1 year | ||||||
New York [Member] | PM USA [Member] | Health Care Cost Recovery Actions, Transition Years 2004-2018 [Member] | Settled Litigation [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Litigation settlement | $ 373 | ||||||
MONTANA | PM USA [Member] | Settled Litigation [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Litigation settlement | $ 4 |
Contingencies (Other Disputes U
Contingencies (Other Disputes Under the State Settlement Agreements) (Details) $ in Millions | 1 Months Ended |
Jan. 31, 2021USD ($) | |
PM USA [Member] | Other Disputes Under the State Settlement Agreements [Member] | |
Loss Contingencies [Line Items] | |
Amount ordered to be paid from other party | $ 32 |
Contingencies (Federal Governme
Contingencies (Federal Government's Lawsuit) (Details) - Federal Governments Lawsuit [Member] - USD ($) $ in Millions | 1 Months Ended | 12 Months Ended | |
Aug. 31, 2006 | Dec. 31, 2019 | Dec. 31, 2014 | |
Loss Contingencies [Line Items] | |||
Disclosure period | 10 years | ||
Implementation of Corrective Communications [Member] | PM USA [Member] | |||
Loss Contingencies [Line Items] | |||
Provision related to litigation recorded | $ 36 | $ 36 | |
Implementation of Corrective Communications [Member] | Altria Group [Member] | |||
Loss Contingencies [Line Items] | |||
Provision related to litigation recorded | $ 36 | $ 36 |
Contingencies (E-vapor Product
Contingencies (E-vapor Product Litigation and IQOS Litigation) (Details) | 1 Months Ended | 9 Months Ended | ||||
Dec. 31, 2020plantiffcase | Apr. 30, 2020USD ($) | Sep. 30, 2021USD ($)claimlawsuit | Oct. 25, 2021claim | Oct. 27, 2020claim | Oct. 28, 2019claim | |
Loss Contingencies [Line Items] | ||||||
Loss contingency, number of cases with set court dates | case | 4 | |||||
E-vapor Litigation [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Number of cases pending | 1,145 | 0 | ||||
Number of plaintiffs | plantiff | 20 | |||||
Number of third party lawsuits | lawsuit | 3 | |||||
IQOS | ||||||
Loss Contingencies [Line Items] | ||||||
Loss contingency, damages recoverable, value | $ | $ 0 | |||||
Subsequent Event [Member] | E-vapor Litigation [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Number of cases pending | 2,951 | |||||
Class Action Lawsuit [Member] | Subsequent Event [Member] | E-vapor Litigation [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Number of cases pending | 53 | |||||
Number of pending claims, consolidated for pre-trial purposes | 28 | |||||
Pending Individual Lawsuits [Member] | Subsequent Event [Member] | E-vapor Litigation [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Number of cases pending | 2,548 | |||||
Pending Lawsuit Filed By School District [Member] | Subsequent Event [Member] | E-vapor Litigation [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Number of cases pending | 350 | |||||
Settled Litigation [Member] | E-vapor Litigation [Member] | ||||||
Loss Contingencies [Line Items] | ||||||
Loss contingency, claims settled, number | 1 | |||||
Litigation settlement | $ | $ 40,000,000 |
Contingencies (Antitrust Litiga
Contingencies (Antitrust Litigation and Shareholder Class Action and Shareholder Derivative Lawsuits) (Details) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||
Apr. 30, 2021claim | Aug. 31, 2020shareholder | Sep. 30, 2021claim | Dec. 31, 2019shareholder | Mar. 31, 2021shareholder | Aug. 31, 2021shareholder | Oct. 25, 2021lawsuit | Nov. 30, 2020complaint | Apr. 30, 2020 | Dec. 31, 2018 | |
Loss Contingencies [Line Items] | ||||||||||
Loss contingency, number of complaints | complaint | 3 | |||||||||
Loss contingency, number of shareholders filing class action lawsuits | shareholder | 2 | 2 | ||||||||
Loss contingency, number of pending cases consolidated | claim | 5 | |||||||||
Loss contingency, number of shareholders filing derivative lawsuits | shareholder | 3 | 6 | ||||||||
Loss contingency, number of consolidated derivative lawsuits | claim | 4 | |||||||||
JUUL [Member] | ||||||||||
Loss Contingencies [Line Items] | ||||||||||
Equity securities, ownership percentage | 35.00% | 35.00% | 35.00% | |||||||
Subsequent Event [Member] | ||||||||||
Loss Contingencies [Line Items] | ||||||||||
Loss contingency, class action lawsuit | lawsuit | 16 |
Contingencies (Lights_Ultra Lig
Contingencies (Lights/Ultra Lights Cases) (Details) - Subsequent Event [Member] | Oct. 25, 2021claimcasecourt |
Lights [Member] | |
Loss Contingencies [Line Items] | |
Claims not certified, number | case | 23 |
Number of cases pending | 2 |
Lights [Member] | PM USA [Member] | |
Loss Contingencies [Line Items] | |
Number of state courts | court | 21 |
Smoking and Health Class Actions and Aggregated Claims Litigation [Member] | |
Loss Contingencies [Line Items] | |
Number of cases pending | 1 |
Contingencies (UST Litigations
Contingencies (UST Litigations Narrative) (Details) | Oct. 25, 2021claim |
Pending Individual Lawsuits [Member] | Subsequent Event [Member] | UST Litigation [Member] | |
Loss Contingencies [Line Items] | |
Claims filed, number | 1 |
Contingencies (Guarantees and O
Contingencies (Guarantees and Other Similar Matters Narrative) (Details) | Sep. 30, 2021USD ($) |
Loss Contingencies [Line Items] | |
Contingent liability related to performance surety bonds | $ 24,000,000 |
Letter of Credit [Member] | |
Loss Contingencies [Line Items] | |
Credit line available under the agreement | 48,000,000 |
Revolving Credit Facility [Member] | Credit Agreement [Member] | |
Loss Contingencies [Line Items] | |
Credit line available under the agreement | $ 3,000,000,000 |
Uncategorized Items - mo-202109
Label | Element | Value | |
Restricted Cash, Current | us-gaap_RestrictedCashCurrent | $ 1,000,000 | [1] |
Restricted Cash, Noncurrent | us-gaap_RestrictedCashNoncurrent | 60,000,000 | [1] |
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Disposal Group, Including Discontinued Operations | us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsDisposalGroupIncludingDiscontinuedOperations | $ 0 | [2] |
[1] | Restricted cash consisted of cash deposits collateralizing appeal bonds posted by PM USA to obtain stays of judgments pending appeals. See Note 12. Contingencies . | ||
[2] | Cash included in assets held for sale at September 30, 2021 is related to the Ste. Michelle Transaction. For further discussion, see Note 3. Assets Held for Sale . |