Altria Group Files Q2 2024 10-Q

TL;DR

Altria's Q2 2024 10-Q is in. Check financials.

AI Summary

Altria Group, Inc. filed its 10-Q for the period ending June 30, 2024. The filing covers the second quarter of 2024 and provides financial updates. Key financial data and operational details for the period are presented.

Why It Matters

This filing provides investors with the latest financial performance and disclosures for Altria Group, Inc., crucial for understanding the company's current standing and future outlook.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information and risk factors that could impact the company's performance.

Key Numbers

• 0.3333 — Shares (Share information related to common stock.)
• 0.3313 — Par Value (Par value for common stock.)

Key Players & Entities

• ALTRIA GROUP, INC. (company) — Filer
• 20240630 (date) — Period of Report
• 20240731 (date) — Filing Date
• RICHMOND (location) — Business Address City
• VA (location) — Business Address State

FAQ

Key Financial Figures

• $0.33 — ange on which registered Common Stock, $0.33 1/3 par value MO New York Stock Exchan

Filing Documents

• mo-20240630.htm (10-Q) — 2303KB
• exhibit311q22024-quarter.htm (EX-31.1) — 11KB
• exhibit312q22024-quarter.htm (EX-31.2) — 11KB
• exhibit321q22024-quarter.htm (EX-32.1) — 4KB
• exhibit322q22024-quarter.htm (EX-32.2) — 5KB
• exhibit991q22024-quarter.htm (EX-99.1) — 35KB
• exhibit992q22024-quarter.htm (EX-99.2) — 8KB
• 0000764180-24-000093.txt ( ) — 11594KB
• mo-20240630.xsd (EX-101.SCH) — 88KB
• mo-20240630_cal.xml (EX-101.CAL) — 86KB
• mo-20240630_def.xml (EX-101.DEF) — 499KB
• mo-20240630_lab.xml (EX-101.LAB) — 858KB
• mo-20240630_pre.xml (EX-101.PRE) — 711KB
• mo-20240630_htm.xml (XML) — 1719KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) Condensed Consolidated Balance Sheets at June 30 , 2024 and December 31, 2023 3 Condensed Consolidated Statements of Earnings for the Six and Three Months Ended June 30 , 2024 and 2023 5 Condensed Consolidated Statements of Comprehensive Earnings for the Six and Three Months Ended June 30 , 2024 and 2023 6 Condensed Consolidated Statements of Stockholders' Equity (Deficit) for the Six Months Ended June 30 , 2024 and 2023 7 Three Months Ended June 30 , 202 4 and 202 3 8 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30 , 2024 and 2023 9 Notes to Condensed Consolidated Financial Statements 11

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 37

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 70

Controls and Procedures

Item 4. Controls and Procedures 70

- OTHER INFORMATION

PART II - OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 70

Risk Factors

Item 1A. Risk Factors 70

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 71

Other Information

Item 5. Other Information 71

Exhibits

Item 6. Exhibits 72 Signature Signature 73 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Altria Group, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (in millions of dollars) (Unaudited) ______________________________ June 30, 2024 December 31, 2023 Assets Cash and cash equivalents $ 1,799 $ 3,686 Receivables 72 71 Inventories: Leaf tobacco 562 649 Other raw materials 199 204 Work in process 25 22 Finished product 388 340 1,174 1,215 Income taxes 316 496 Other current assets 179 117 Total current assets 3,540 5,585 Property, plant and equipment, at cost 4,507 4,582 Less accumulated depreciation 2,887 2,930 1,620 1,652 Goodwill 6,945 6,791 Other intangible assets, net 13,048 13,686 Investments in equity securities 8,335 10,011 Other assets 899 845 Total Assets $ 34,387 $ 38,570 See notes to condensed consolidated financial statements. 3 Table of Contents Altria Group, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (Continued) (in millions of dollars, except share and per share data) (Unaudited) ________________________________________________ June 30, 2024 December 31, 2023 Liabilities Current portion of long-term debt $ 1,553 $ 1,121 Accounts payable 556 582 Accrued liabilities: Marketing 763 716 Settlement charges 1,320 2,563 Other 1,900 1,902 Deferred gain from the sale of IQOS System commercialization rights — 2,700 Dividends payable 1,690 1,735 Total current liabilities 7,782 11,319 Long-term debt 23,470 25,112 Deferred income taxes 3,281 2,799 Accrued pension costs 127 130 Accrued postretirement health care costs 1,086 1,079 Other liabilities 1,607 1,621 Total liabilities 37,353 42,060 Contingencies (Note 14) Stockholders' Equity (Deficit) Common stock, par value $0.33 1/3 per share ( 2,805,961,317 shares issued) 935 935 Additional paid-in capital 5,876 5,906 Earnings reinvested in the business 33,651 31,094 Accumulated other comprehensive losses ( 2,283 ) ( 2,673 ) Cost of repurchased stock ( 1,095,982,189 shares at June 30,

View Full Filing

View this 10-Q filing on SEC EDGAR