Analysis of Debt
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- Income Statement
- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Price to FCFE (P/FCFE)
- Current Ratio since 2005
- Total Asset Turnover since 2005
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Total Debt (Carrying Amount)
Altria Group Inc., balance sheet: debt
US$ in millions
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).
The analysis of the debt data over the five-year period reveals several noteworthy trends in the company's debt structure, particularly regarding the current portion of long-term debt, the non-current portion, and the total long-term debt.
- Current Portion of Long-Term Debt
- From 2019 to 2023, the current portion of long-term debt exhibits a somewhat fluctuating pattern. It increased significantly from 1,000 million USD in 2019 to 1,500 million USD in 2020, then dropped to 1,105 million USD in 2021. This was followed by another rise to 1,556 million USD in 2022, before decreasing again to 1,121 million USD in 2023. Overall, the values oscillate around the 1,100 to 1,500 million USD range without establishing a clear upward or downward trend.
- Long-Term Debt Excluding Current Portion
- The long-term debt excluding the current portion demonstrates a general declining trend over the period. Starting at 27,042 million USD in 2019, it rose slightly to 27,971 million USD in 2020 but then experienced a steady decline each subsequent year to 26,939 million USD in 2021, 25,124 million USD in 2022, and 25,112 million USD in 2023. The reduction from the peak value in 2020 to 2023 signifies a gradual repayment or reduction of long-term obligations.
- Total Long-Term Debt Including Current Portion
- The total long-term debt, which includes both current and non-current portions, follows a similar declining trend to the non-current portion. It peaked at 29,471 million USD in 2020, then steadily decreased to 28,044 million USD in 2021, 26,680 million USD in 2022, and finally reached 26,233 million USD in 2023. This consistent reduction suggests an overall deleveraging trend over the last three years, despite the fluctuations observed in the current portion.
In summary, while the current portion of long-term debt shows variability with no clear directional trend, both the non-current portion and total long-term debt indicate a steady, gradual decline following a slight increase in 2020. This pattern may imply an effort towards debt reduction or restructuring in recent years.
Total Debt (Fair Value)
| Dec 31, 2023 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| Total long-term debt, including current portion (fair value) | |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | |
Based on: 10-K (reporting date: 2023-12-31).
Weighted-average Interest Rate on Debt
Weighted-average interest rate on debt:
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| Total | |||
Based on: 10-K (reporting date: 2023-12-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × ÷ =