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Altria Group Inc. (MO)


Statement of Cash Flows

Difficulty: Beginner

The cash flow statement provides information about a company’s cash receipts and cash payments during an accounting period, showing how these cash flaws link the ending cash balance to the beginning balance shown on the company’s statement of financial position.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Altria Group Inc., Consolidated Statement of Cash Flows

USD $ in millions

Microsoft Excel LibreOffice Calc
12 months ended Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Net earnings 6,967  10,227  14,244  5,243  5,070 
Depreciation and amortization 227  209  204  225  208 
Deferred income tax provision (benefit) (57) (3,126) 3,119  (132) (129)
Earnings from equity investment in AB InBev/SABMiller (890) (532) (795) (757) (1,006)
(Gain) loss on AB InBev/SABMiller business combination 33  (445) (13,865) (5) — 
Dividends from AB InBev/SABMiller 657  806  739  495  456 
Asset impairment and exit costs, net of cash paid 354  (38) 106  (9)
Loss on early extinguishment of debt —  —  823  228  44 
Receivables —  10  (27) (8)
Inventories (129) (171) (34) (33) (184)
Accounts payable 27  (55) (6) (7) (5)
Income taxes 218  (294) (231) (12)
Accrued liabilities and other current assets (21) (85) (113) 184  (107)
Accrued settlement charges 980  (1,259) 111  90  109 
Cash effects of changes in operating capital 1,075  (1,854) (300) 225  (194)
Pension and postretirement plans contributions (41) (294) (531) (28) (15)
Pension provisions and postretirement, net (13) (11) (73) 114  21 
Other, net 79  (20) 120  201  217 
Adjustments to reconcile net earnings to operating cash flows 1,424  (5,305) (10,453) 567  (407)
Net cash provided by operating activities 8,391  4,922  3,791  5,810  4,663 
Capital expenditures (238) (199) (189) (229) (163)
Acquisitions of businesses and assets (15) (415) (45) —  (102)
Investment in JUUL (12,800) —  —  —  — 
Proceeds from finance assets 37  133  231  354  369 
Proceeds from AB InBev/SABMiller business combination —  —  4,773  —  — 
Purchase of AB InBev ordinary shares —  —  (1,578) —  — 
Proceeds from derivative financial instruments 35  —  510  —  — 
Other, net (7) 14  (140) 73 
Net cash (used in) provided by investing activities (12,988) (467) 3,708  (15) 177 
Proceeds from short-term borrowings 12,800  —  —  —  — 
Long-term debt issued —  —  1,976  —  999 
Long-term debt repaid (864) —  (933) (1,793) (825)
Repurchases of common stock (1,673) (2,917) (1,030) (554) (939)
Dividends paid on common stock (5,415) (4,807) (4,512) (4,179) (3,892)
Premiums and fees related to early extinguishment of debt —  —  (809) (226) (44)
Other, net (132) (47)
Net cash provided by (used in) financing activities 4,716  (7,771) (5,299) (6,747) (4,694)
Cash, cash equivalents and restricted cash, increase (decrease) 119  (3,316) 2,200  (952) 146 
Cash, cash equivalents and restricted cash, balance at beginning of year 1,314  4,569  2,369  3,321  3,175 
Cash, cash equivalents and restricted cash, balance at end of year 1,433  1,253  4,569  2,369  3,321 

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 cash provided by operating activities Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Altria Group Inc.’s net cash provided by operating activities increased from 2016 to 2017 and from 2017 to 2018.
Net cash (used in) provided by investing activities Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Altria Group Inc.’s net cash (used in) provided by investing activities declined from 2016 to 2017 and from 2017 to 2018.
Net cash provided by (used in) financing activities Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Altria Group Inc.’s net cash provided by (used in) financing activities declined from 2016 to 2017 but then increased from 2017 to 2018 exceeding 2016 level.