Altria Group Inc. (MO)


Income Statement
Quarterly Data

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 (quarterly data)

USD $ in millions

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3 months ended Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016 Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014
Net revenues 5,628  6,114  6,837  6,305  6,108  6,101  6,729  6,663  6,083  6,252  6,905  6,521  6,066  6,318  6,699  6,613  5,804  6,258  6,491  6,256  5,517 
Cost of sales (1,578) (1,864) (2,037) (1,738) (1,734) (1,844) (1,940) (1,949) (1,810) (1,905) (2,043) (1,924) (1,874) (2,007) (1,932) (2,004) (1,797) (1,986) (2,079) (1,968) (1,752)
Excise taxes on products (1,239) (1,328) (1,545) (1,426) (1,438) (1,387) (1,606) (1,595) (1,494) (1,519) (1,712) (1,640) (1,536) (1,589) (1,721) (1,738) (1,532) (1,645) (1,738) (1,685) (1,509)
Gross profit 2,811  2,922  3,255  3,141  2,936  2,870  3,183  3,119  2,779  2,828  3,150  2,957  2,656  2,722  3,046  2,871  2,475  2,627  2,674  2,603  2,256 
Marketing, administration and research costs (533) (797) (700) (641) (618) (698) (568) (568) (528) (779) (766) (546) (559) (757) (698) (643) (610) (718) (663) (638) (520)
Changes of PMI tax-related receivable/payable —  —  —  —  —  —  —  —  —  —  —  —  —  —  (41) —  —  (5) —  — 
Asset impairment and exit costs (40) (381) (2) (2) (9) (8) (12) (4) (56) (2) (1) (120) —  —  (4) —  —  (7) 10  (2)
Operating income 2,238  1,744  2,557  2,498  2,316  2,163  2,607  2,539  2,247  1,993  2,382  2,410  1,977  1,965  2,307  2,224  1,865  1,912  1,999  1,975  1,734 
Interest and other debt expense, net (384) (162) (159) (178) (166) (180) (169) (177) (179) (176) (179) (192) (200) (208) (205) (195) (209) (212) (213) (230) (153)
Net periodic benefit income, excluding service cost (3) 21  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Loss on early extinguishment of debt —  —  —  —  —  —  —  —  —  —  (823) —  —  —  —  —  (228) (44) —  —  — 
Earnings from equity investment in AB InBev 86  131  189  228  342  200  169  140  23  231  299  199  66  211  187  225  134  253  328  200  225 
Loss on Cronos-related financial instruments (425) —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  — 
Gain (loss) on AB InBev/SABMiller business combination —  —  —  —  (33) —  37  408  —  13,660  48  117  40  —  —  —  —  —  —  — 
Earnings before income taxes 1,516  1,710  2,608  2,557  2,466  2,183  2,644  2,910  2,091  15,708  1,727  2,534  1,883  1,973  2,289  2,254  1,562  1,909  2,114  1,945  1,806 
(Provision) benefit for income taxes (395) (459) (664) (680) (571) 2,785  (777) (920) (689) (5,430) (633) (880) (665) (725) (761) (805) (544) (673) (717) (683) (631)
Net earnings 1,121  1,251  1,944  1,877  1,895  4,968  1,867  1,990  1,402  10,278  1,094  1,654  1,218  1,248  1,528  1,449  1,018  1,236  1,397  1,262  1,175 
Net earnings attributable to noncontrolling interests (1) (1) (1) (1) (1) (2) (1) (1) (1) (2) (1) (1) (1) (1) —  (1) —  —  —  —  — 
Net earnings attributable to Altria 1,120  1,250  1,943  1,876  1,894  4,966  1,866  1,989  1,401  10,276  1,093  1,653  1,217  1,247  1,528  1,448  1,018  1,236  1,397  1,262  1,175 

Based on: 10-Q (filing date: 2019-04-25), 10-K (filing date: 2019-02-26), 10-Q (filing date: 2018-10-25), 10-Q (filing date: 2018-07-26), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-27), 10-Q (filing date: 2017-10-26), 10-Q (filing date: 2017-07-27), 10-Q (filing date: 2017-05-02), 10-K (filing date: 2017-02-27), 10-Q (filing date: 2016-10-27), 10-Q (filing date: 2016-07-27), 10-Q (filing date: 2016-04-28), 10-K (filing date: 2016-02-25), 10-Q (filing date: 2015-10-29), 10-Q (filing date: 2015-07-29), 10-Q (filing date: 2015-04-23), 10-K (filing date: 2015-02-25), 10-Q (filing date: 2014-10-30), 10-Q (filing date: 2014-07-22), 10-Q (filing date: 2014-04-24).

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 Q3 2018 to Q4 2018 and from Q4 2018 to Q1 2019.
Operating income The net result for the period of deducting operating expenses from operating revenues. Altria Group Inc.’s operating income declined from Q3 2018 to Q4 2018 but then increased from Q4 2018 to Q1 2019 not reaching Q3 2018 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 Q3 2018 to Q4 2018 and from Q4 2018 to Q1 2019.
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 Q3 2018 to Q4 2018 and from Q4 2018 to Q1 2019.