Name: Altria Group Inc. (NYSE:MO) | Balance Sheet: Assets
Creator: Stock Analysis on Net

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.

Assets: Selected Items

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Current Assets: Selected Items

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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	3,686)	4,030)	4,544)	4,945)	2,117)
Receivable from the sale of IQOS System commercialization rights	—)	1,721)	—)	—)	—)
Receivables	71)	48)	47)	137)	152)
Inventories	1,215)	1,180)	1,194)	1,966)	2,293)
Income taxes	496)	103)	—)	—)	—)
Other current assets	117)	138)	298)	69)	262)
Current assets	5,585)	7,220)	6,083)	7,117)	4,824)
Property, plant and equipment, net	1,652)	1,608)	1,553)	2,012)	1,999)
Goodwill	6,791)	5,177)	5,177)	5,177)	5,177)
Other intangible assets, net	13,686)	12,384)	12,306)	12,615)	12,687)
Investments in equity securities	10,011)	9,600)	13,481)	19,529)	23,581)
Other assets	845)	965)	923)	964)	1,003)
Non-current assets	32,985)	29,734)	33,440)	40,297)	44,447)
Total assets	38,570)	36,954)	39,523)	47,414)	49,271)

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).

Total assets experienced a consistent downward trajectory over the five-year period, declining from 49,271 million US dollars in 2019 to 38,570 million US dollars by the end of 2023. This overall contraction is primarily driven by a significant reduction in non-current assets, which offset modest fluctuations in current asset levels.

Current Asset Trends: Cash and cash equivalents peaked in 2020 at 4,945 million US dollars before entering a steady decline to 3,686 million US dollars in 2023. Inventories showed a marked downward trend, decreasing from 2,293 million US dollars in 2019 to 1,215 million US dollars in 2023, representing a reduction of approximately 47%. Current assets overall remained volatile, reaching a peak of 7,220 million US dollars in 2022, partially supported by a one-time receivable of 1,721 million US dollars related to IQOS System commercialization rights.
Non-Current Asset Analysis: The most significant change in the asset structure is observed in investments in equity securities, which plummeted from 23,581 million US dollars in 2019 to 10,011 million US dollars in 2023. This represents a reduction of over 57% and is the primary driver of the decline in total assets. Conversely, goodwill remained stagnant at 5,177 million US dollars from 2019 through 2022 before increasing to 6,791 million US dollars in 2023. Similarly, other intangible assets, net, rose to 13,686 million US dollars in 2023 after several years of slight decline.
Fixed Assets and Other Items: Property, plant and equipment, net, remained relatively stable, fluctuating between a low of 1,553 million US dollars in 2021 and a high of 2,012 million US dollars in 2020. Other assets have remained consistently low, ending the period at 845 million US dollars. A notable increase in income tax assets was recorded in 2023, rising to 496 million US dollars from 103 million US dollars the previous year.

The analysis indicates a strategic shift in the balance sheet composition. The substantial liquidation or devaluation of equity securities has led to a leaner asset base, while the simultaneous increase in goodwill and intangible assets in 2023 suggests recent investment in intellectual property or corporate acquisitions.

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