Altria Group Inc. (MO) | Statement of Cash Flows
The cash flow statement provides information about a company's cash receipts and cash payments during an accounting period, showing how these cash flaws link the ending cash balance to the beginning balance shown on the company's statement of financial position.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
Altria Group Inc., Consolidated Statement of Cash Flows
USD $ in millions
| 12 months ended | Dec 31, 2012 | Dec 31, 2011 | Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
|---|---|---|---|---|---|---|
| Net earnings, consumer products | 4,006 | 3,905 | 3,819 | 3,054 | 3,065 | |
| Net earnings (loss), financial services | 177 | (512) | 88 | 154 | 25 | |
| Net earnings | 4,183 | 3,393 | 3,907 | 3,208 | 3,090 | |
| Depreciation and amortization | 225 | 253 | 276 | 291 | 215 | |
| Deferred income tax provision | 406 | 382 | 408 | 499 | 121 | |
| Earnings from equity investment in SABMiller | (1,224) | (730) | (628) | (600) | (467) | |
| Dividends from SABMiller | 402 | 357 | 303 | 254 | 249 | |
| Asset impairment and exit costs, net of cash paid | (73) | 179 | (188) | (22) | 197 | |
| IRS payment related to LILO and SILO transactions | (456) | – | (945) | – | – | |
| Gain on sale of corporate headquarters building | – | – | – | – | (404) | |
| Loss on early extinguishment of debt | 874 | – | – | – | 393 | |
| Receivables, net | 202 | (19) | 15 | (7) | (84) | |
| Inventories | 33 | 24 | 7 | 51 | 185 | |
| Accounts payable | 5 | (60) | 48 | (25) | (162) | |
| Income taxes | (449) | (151) | (53) | 130 | (201) | |
| Accrued liabilities and other current assets | (14) | 21 | (221) | 218 | (27) | |
| Accrued settlement charges | 103 | (22) | (100) | (346) | 5 | |
| Cash effects of changes in assets and liabilities | (120) | (207) | (304) | 21 | (284) | |
| Pension plan contributions | (557) | (240) | (30) | (37) | (45) | |
| Pension provisions and postretirement, net | 192 | 243 | 185 | 193 | 192 | |
| Other | 126 | 47 | 96 | 232 | 139 | |
| Consumer products | (205) | 284 | (827) | 831 | 306 | |
| Deferred income tax benefit | (1,335) | (825) | (284) | (456) | (259) | |
| PMCC leveraged lease charges | 7 | 490 | – | – | – | |
| Net increase (decrease) to allowance for losses | (10) | 25 | – | 15 | 100 | |
| Other liabilities, income taxes | 1,332 | 298 | (5) | – | – | |
| Other | (69) | (52) | (24) | (155) | (22) | |
| Financial services | (75) | (64) | (313) | (596) | (181) | |
| Adjustments to reconcile net earnings to operating cash flows | (280) | 220 | (1,140) | 235 | 125 | |
| Net cash provided by operating activities | 3,903 | 3,613 | 2,767 | 3,443 | 3,215 | |
| Capital expenditures | (124) | (105) | (168) | (273) | (241) | |
| Proceeds from sale of corporate headquarters building | – | – | – | – | 525 | |
| Purchase of businesses, net of acquired cash | – | – | – | (10,244) | – | |
| Other | (5) | 2 | 115 | (31) | 110 | |
| Consumer products | (129) | (103) | (53) | (10,548) | 394 | |
| Investments in finance assets | – | – | – | (9) | (1) | |
| Proceeds from finance assets | 1,049 | 490 | 312 | 793 | 403 | |
| Financial services | 1,049 | 490 | 312 | 784 | 402 | |
| Net cash (used in) provided by investing activities | 920 | 387 | 259 | (9,764) | 796 | |
| Net issuance (repayment) of short-term borrowings | – | – | – | (205) | – | |
| Long-term debt issued | 2,787 | 1,494 | 1,007 | 4,221 | 6,738 | |
| Long-term debt repaid | (2,600) | – | (775) | (375) | (4,057) | |
| Consumer products | 187 | 1,494 | 232 | 3,641 | 2,681 | |
| Debt repaid | – | – | – | (500) | – | |
| Financial services | – | – | – | (500) | – | |
| Repurchases of common stock | (1,082) | (1,327) | – | – | (1,166) | |
| Dividends paid on common stock | (3,400) | (3,222) | (2,958) | (2,693) | (4,428) | |
| Issuances of common stock | – | 29 | 104 | 89 | 89 | |
| PMI dividends paid to Altria Group, Inc. | – | – | – | – | 3,019 | |
| Financing fees and debt issuance costs | (22) | (24) | (6) | (177) | (93) | |
| Tender premiums and fees related to early extinguishment of debt | (864) | – | – | – | (371) | |
| Changes in amounts due to/from PMI | – | – | – | – | (664) | |
| Other | (12) | 6 | 45 | (84) | (4) | |
| Net cash provided by (used in) financing activities | (5,193) | (3,044) | (2,583) | 276 | (937) | |
| Cash and cash equivalents, increase (decrease) | (370) | 956 | 443 | (6,045) | 3,074 | |
| Cash and cash equivalents, balance at beginning of year | 3,270 | 2,314 | 1,871 | 7,916 | 4,842 | |
| Cash and cash equivalents, balance at end of year | 2,900 | 3,270 | 2,314 | 1,871 | 7,916 |
| Item | Description | The company |
|---|---|---|
| Net cash provided by operating activities | The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. | Altria Group Inc.'s net cash provided by operating activities increased from 2010 to 2011 and from 2011 to 2012. |
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