Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

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 cash flow statement

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net earnings (losses)	8,130)	5,764)	2,475)	4,454)	(1,298)
Depreciation and amortization	272)	226)	244)	257)	226)
Deferred income tax benefit	(230)	(947)	(1,160)	(164)	(95)
Unrecognized tax benefit	1,111)	16)	(21)	—)	—)
(Income) losses from investments in equity securities	(243)	3,641)	5,979)	111)	(1,725)
Dividends from ABI	163)	104)	119)	108)	396)
Loss on Cronos-related financial instruments	—)	15)	148)	140)	1,442)
Impairment of JUUL equity securities	—)	—)	—)	2,600)	8,600)
Loss on early extinguishment of debt	—)	—)	649)	—)	—)
Receivables	6)	(21)	(18)	20)	(8)
Inventories	(15)	14)	57)	2)	42)
Accounts payable	38)	92)	163)	53)	(79)
Income taxes	6)	(118)	(149)	(29)	89)
Accrued liabilities and other current assets	280)	(129)	165)	(15)	11)
Accrued settlement charges	(362)	(424)	(215)	218)	(108)
Cash effects of changes in operating capital	(47)	(586)	3)	249)	(53)
Pension plan contributions	(20)	(20)	(26)	(33)	(56)
Pension and postretirement, net	(136)	(156)	(175)	(49)	(52)
Other, net	287)	199)	170)	712)	452)
Adjustments to reconcile net earnings (losses) to operating cash flows	1,157)	2,492)	5,930)	3,931)	9,135)
Net cash provided by operating activities	9,287)	8,256)	8,405)	8,385)	7,837)
Capital expenditures	(196)	(205)	(169)	(231)	(246)
Proceeds from the sale of IQOS System commercialization rights	1,700)	1,000)	—)	—)	—)
Acquisitions of businesses and assets	—)	—)	—)	—)	(421)
Investment in Cronos	—)	—)	—)	—)	(1,899)
Proceeds from the Ste. Michelle Transaction, net of cash transferred	—)	—)	1,176)	—)	—)
Acquisition of NJOY, net of cash acquired	(2,751)	—)	—)	—)	—)
Other, net	(36)	(13)	205)	88)	168)
Net cash (used in) provided by investing activities	(1,283)	782)	1,212)	(143)	(2,398)
Proceeds from short-term borrowings	2,000)	—)	—)	3,000)	—)
Repayment of short-term borrowings	(2,000)	—)	—)	(3,000)	(12,800)
Long-term debt issued	998)	—)	5,472)	1,993)	16,265)
Long-term debt repaid	(1,566)	(1,105)	(6,542)	(1,000)	(1,144)
Repurchases of common stock	(1,000)	(1,825)	(1,675)	—)	(845)
Dividends paid on common stock	(6,779)	(6,599)	(6,446)	(6,290)	(6,069)
Premiums and fees related to early extinguishment of debt	—)	—)	(623)	—)	—)
Other, net	(27)	(12)	(215)	(99)	(119)
Net cash used in financing activities	(8,374)	(9,541)	(10,029)	(5,396)	(4,712)
Cash, cash equivalents and restricted cash, increase (decrease)	(370)	(503)	(412)	2,846)	727)
Cash, cash equivalents and restricted cash, balance at beginning of year	4,091)	4,594)	5,006)	2,160)	1,433)
Cash, cash equivalents and restricted cash, balance at end of year	3,721)	4,091)	4,594)	5,006)	2,160)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	Altria Group Inc. net cash provided by operating activities decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.
Net cash (used in) provided by investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	Altria Group Inc. net cash (used in) provided by investing activities decreased from 2021 to 2022 and from 2022 to 2023.
Net cash used in financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	Altria Group Inc. net cash used in financing activities increased from 2021 to 2022 and from 2022 to 2023.

Altria Group Inc. (NYSE:MO)

Cash Flow Statement