Microsoft Excel LibreOffice Calc

Altria Group Inc. (MO)

Adjustments to Financial Statements

Difficulty: Advanced

Adjustments to Current Assets

Altria Group Inc., adjusted current assets

USD $ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
As Reported
Current assets 4,344  7,260  6,086  6,878  6,590 
Adjustments
Add: LIFO reserve1 700  700  700  700  700 
Less: Deferred income taxes2 –  –  1,175  1,143  1,100 
After Adjustment
Adjusted current assets 5,044  7,960  5,611  6,435  6,190 

Based on: 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-25), 10-K (filing date: 2014-02-26).

1 LIFO reserve. See Details »

2 Deferred income taxes. See Details »

Adjustments to Total Assets

Altria Group Inc., adjusted total assets

USD $ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
As Reported
Total assets 43,202  45,932  32,535  34,475  34,859 
Adjustments
Add: Operating leased assets1 162  217  251  253  225 
Add: LIFO reserve2 700  700  700  700  700 
Less: Deferred income taxes3 –  –  1,175  1,143  1,100 
After Adjustment
Adjusted total assets 44,064  46,849  32,311  34,285  34,684 

Based on: 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-25), 10-K (filing date: 2014-02-26).

1 Operating leased assets. See Details »

2 LIFO reserve. See Details »

3 Deferred income taxes. See Details »

Adjustments to Total Liabilities

Altria Group Inc., adjusted total liabilities

USD $ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
As Reported
Total liabilities 27,784  33,121  29,625  31,430  30,706 
Adjustments
Add: Operating lease obligations1 162  217  251  253  225 
Less: Deferred income taxes2 5,247  8,416  5,663  6,088  6,854 
Less: Restructuring liabilities 33  79  –  –  – 
After Adjustment
Adjusted total liabilities 22,666  24,843  24,213  25,595  24,077 

Based on: 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-25), 10-K (filing date: 2014-02-26).

1 Operating lease obligations. See Details »

2 Deferred income taxes. See Details »

Adjustments to Stockholders’ Equity

Altria Group Inc., adjusted stockholders’ equity attributable to Altria Group, Inc.

USD $ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
As Reported
Stockholders’ equity attributable to Altria Group, Inc. 15,377  12,770  2,880  3,014  4,119 
Adjustments
Less: Net deferred income tax assets (liabilities)1 (5,012) (8,064) (4,295) (4,746) (5,618)
Add: LIFO reserve2 700  700  700  700  700 
Add: Restructuring liabilities 33  79  –  –  – 
Add: Redeemable noncontrolling interest 38  38  37  35  35 
Add: Noncontrolling interests 3  3  (7) (4) (1)
After Adjustment
Adjusted stockholders’ equity attributable to Altria Group, Inc. 21,163  21,654  7,905  8,491  10,471 

Based on: 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-25), 10-K (filing date: 2014-02-26).

1 Net deferred income tax assets (liabilities). See Details »

2 LIFO reserve. See Details »

Adjustments to Capitalization Table

Altria Group Inc., adjusted capitalization table

USD $ in millions

Microsoft Excel LibreOffice Calc
Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
As Reported
Current portion of long-term debt 864  –  4  1,000  525 
Long-term debt, excluding current portion 13,030  13,881  12,915  13,693  13,992 
Total reported debt 13,894  13,881  12,919  14,693  14,517 
Stockholders’ equity attributable to Altria Group, Inc. 15,377  12,770  2,880  3,014  4,119 
Total reported capital 29,271  26,651  15,799  17,707  18,636 
Adjustments to Debt
Add: Operating lease obligations1 162  217  251  253  225 
Adjusted total debt 14,056  14,098  13,170  14,946  14,742 
Adjustments to Equity
Less: Net deferred income tax assets (liabilities)2 (5,012) (8,064) (4,295) (4,746) (5,618)
Add: LIFO reserve3 700  700  700  700  700 
Add: Restructuring liabilities 33  79  –  –  – 
Add: Redeemable noncontrolling interest 38  38  37  35  35 
Add: Noncontrolling interests 3  3  (7) (4) (1)
Adjusted stockholders’ equity attributable to Altria Group, Inc. 21,163  21,654  7,905  8,491  10,471 
After Adjustment
Adjusted total capital 35,219  35,752  21,075  23,437  25,213 

Based on: 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-25), 10-K (filing date: 2014-02-26).

1 Operating lease obligations. See Details »

2 Net deferred income tax assets (liabilities). See Details »

3 LIFO reserve. See Details »

Adjustments to Reported Income

Altria Group Inc., adjusted net earnings attributable to Altria Group, Inc.

USD $ in millions

Microsoft Excel LibreOffice Calc
12 months ended Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014 Dec 31, 2013
As Reported
Net earnings attributable to Altria Group, Inc. 10,222  14,239  5,241  5,070  4,535 
Adjustments
Add: Deferred income tax expense (benefit)1 (3,125) 3,119  (132) (129) (86)
Add: Increase (decrease) in LIFO reserve2 –  –  –  –  100 
Add: Increase (decrease) in restructuring liabilities (46) 79  –  –  (37)
Add: Other comprehensive earnings (losses), net of deferred income taxes 155  1,228  (598) (1,304) 662 
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest 5  5  2  –  – 
After Adjustment
Adjusted net earnings attributable to Altria Group, Inc. 7,211  18,670  4,513  3,637  5,174 

Based on: 10-K (filing date: 2018-02-27), 10-K (filing date: 2017-02-27), 10-K (filing date: 2016-02-25), 10-K (filing date: 2015-02-25), 10-K (filing date: 2014-02-26).

1 Deferred income tax expense (benefit). See Details »

2 Increase (decrease) in LIFO reserve. See Details »