Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

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Altria Group Inc., consolidated balance sheet: assets

US$ in millions

		Dec 31, 2023		Dec 31, 2022		Dec 31, 2021		Dec 31, 2020		Dec 31, 2019
	Cash and cash equivalents
	Receivable from the sale of IQOS System commercialization rights
	Receivables
	Inventories
	Income taxes
	Other current assets
	Current assets
	Property, plant and equipment, net
	Goodwill
	Other intangible assets, net
	Investments in equity securities
	Other assets
	Non-current assets
	Total assets

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).

Cash and cash equivalents: Cash and cash equivalents showed a significant increase from the end of 2019 to 2020, rising from 2,117 million to 4,945 million US dollars. However, from 2020 onwards, there was a consistent decline, reaching 3,686 million by the end of 2023.
Receivable from the sale of IQOS System commercialization rights: This item appears only in 2022 with a value of 1,721 million US dollars, indicating a unique transaction or event during that year without subsequent values in 2023.
Receivables: Receivables declined steadily from 152 million in 2019 to 47 million in 2021, then remained relatively stable with slight increases in 2022 and 2023, ending at 71 million US dollars.
Inventories: Inventories consistently decreased from 2,293 million in 2019 to 1,194 million in 2021, stabilizing around 1,200 million with a minor increase to 1,215 million in 2023.
Income taxes: Income taxes were reported only in 2022 and 2023, rising sharply from 103 million to 496 million US dollars, indicating a notable increase in tax obligations over this period.
Other current assets: Other current assets fluctuated considerably, declining from 262 million in 2019 to 69 million in 2020, increasing to 298 million in 2021, and then decreasing again to 117 million in 2023.
Current assets: Current assets experienced volatility, increasing significantly from 4,824 million in 2019 to 7,117 million in 2020, then decreasing to 6,083 million in 2021. They rose again to 7,220 million in 2022 before declining sharply to 5,585 million in 2023.
Property, plant and equipment, net: Net property, plant, and equipment values remained relatively stable, fluctuating slightly between 1,999 million and 1,652 million over the five-year period, displaying mild decreases and subsequent slight recoveries.
Goodwill: Goodwill remained constant at 5,177 million US dollars from 2019 through 2022, then saw a significant increase to 6,791 million in 2023, suggesting an acquisition or revaluation event.
Other intangible assets, net: Other intangible assets decreased slightly from 12,687 million in 2019 to 12,306 million in 2021, followed by minor fluctuations, and a noticeable increase to 13,686 million by the end of 2023.
Investments in equity securities: Investments in equity securities showed a clear downward trend, declining annually from 23,581 million in 2019 to 9,600 million in 2022, before stabilizing somewhat at 10,011 million in 2023.
Other assets: Other assets decreased modestly from 1,003 million in 2019 to 845 million in 2023, exhibiting minor fluctuations during the period.
Non-current assets: Non-current assets declined consistently from 44,447 million in 2019 to 29,734 million in 2022, before increasing to 32,985 million in 2023. This change largely reflects movements in goodwill and intangible assets.
Total assets: Total assets exhibited a downward trend from 49,271 million in 2019 to 36,954 million in 2022, with a slight recovery to 38,570 million in 2023, paralleling fluctuations in both current and non-current assets.

Assets: Selected Items

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Current Assets: Selected Items