Altria Group Inc. (MO)

Income Statement

Difficulty: Beginner

The income statement presents information on the financial results of a company’s business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Altria Group Inc., Consolidated Income Statement

USD $ in millions

	12 months ended	Dec 31, 2018		Dec 31, 2017		Dec 31, 2016		Dec 31, 2015		Dec 31, 2014
	Net revenues
	Cost of sales
	Excise taxes on products
	Gross profit
	Marketing, administration and research costs
	Reduction of PMI tax-related receivable
	Asset impairment and exit costs
	Operating income
	Interest expense
	Interest income
	Interest related to NPM Adjustment Items
	Interest and other debt expense, net
	Loss on early extinguishment of debt
	Net periodic benefit income, excluding service cost
	Earnings from equity investment in AB InBev/SABMiller
	Gain (loss) on AB InBev/SABMiller business combination
	Earnings before income taxes
	(Provision) benefit for income taxes
	Net earnings
	Net earnings attributable to noncontrolling interests
	Net earnings attributable to Altria

Based on: 10-K (filing date: 2019-02-26), 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).

Item	Description	The company
Net revenues	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Altria Group Inc.’s net revenues declined from 2016 to 2017 and from 2017 to 2018.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Altria Group Inc.’s operating income increased from 2016 to 2017 but then slightly declined from 2017 to 2018 not reaching 2016 level.
Earnings before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Altria Group Inc.’s earnings before income taxes declined from 2016 to 2017 and from 2017 to 2018.
Net earnings attributable to Altria	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Altria Group Inc.’s net earnings attributable to Altria declined from 2016 to 2017 and from 2017 to 2018.

	Altria Group Inc.	Other companies (not purchased previously)
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Relative Valuation
Discounted Cash Flow (DCF) Valuation
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Long-term Trends
Analysis
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	All companies
Financial Statements
Common-Size Financial Statements
Ratios
Relative Valuation
Discounted Cash Flow (DCF) Valuation
Economic Value Added (EVA)
Long-term Trends
Analysis
Financial Reporting Quality