Balance Sheet: Assets
Quarterly Data

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.

Altria Group Inc., consolidated balance sheet: assets (quarterly data)

US$ in millions

	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Cash and cash equivalents	1,897)	1,799)	3,608)	3,686)	1,537)	874)	3,913)	4,030)	2,483)	2,567)	5,353)	4,544)	2,957)	1,877)	5,792)	4,945)	4,123)	4,826)	5,616)	2,117)	1,604)	1,796)	3,352)
Receivable from the sale of IQOS System commercialization rights	—)	—)	—)	—)	—)	1,772)	1,746)	1,721)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Receivables	87)	72)	77)	71)	57)	63)	58)	48)	52)	43)	46)	47)	36)	132)	142)	137)	151)	140)	147)	152)	165)	163)	158)
Leaf tobacco	524)	562)	610)	649)	606)	599)	664)	704)	609)	605)	677)	744)	644)	642)	754)	844)	754)	768)	895)	874)	820)	837)	930)
Other raw materials	189)	199)	199)	204)	212)	209)	202)	186)	189)	183)	179)	166)	159)	177)	186)	200)	206)	194)	193)	192)	201)	194)	190)
Work in process	26)	25)	27)	22)	29)	29)	30)	24)	27)	29)	30)	23)	30)	450)	471)	502)	450)	433)	467)	696)	598)	603)	651)
Finished product	362)	388)	405)	340)	327)	354)	356)	266)	281)	327)	328)	261)	300)	525)	537)	420)	452)	519)	451)	531)	569)	601)	585)
Inventories	1,101)	1,174)	1,241)	1,215)	1,174)	1,191)	1,252)	1,180)	1,106)	1,144)	1,214)	1,194)	1,133)	1,794)	1,948)	1,966)	1,862)	1,914)	2,006)	2,293)	2,188)	2,235)	2,356)
Income taxes	204)	316)	173)	496)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Assets held for sale	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	1,490)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Other current assets	210)	179)	99)	117)	622)	438)	183)	241)	379)	332)	149)	298)	404)	381)	147)	69)	263)	124)	166)	262)	334)	289)	396)
Current assets	3,499)	3,540)	5,198)	5,585)	3,390)	4,338)	7,152)	7,220)	4,020)	4,086)	6,762)	6,083)	6,020)	4,184)	8,029)	7,117)	6,399)	7,004)	7,935)	4,824)	4,291)	4,483)	6,262)
Property, plant and equipment, at cost	4,518)	4,507)	4,515)	4,582)	4,526)	4,487)	4,413)	4,427)	4,409)	4,345)	4,300)	4,432)	4,418)	5,103)	5,154)	5,150)	5,173)	5,137)	5,103)	5,074)	5,009)	4,933)	4,917)
Accumulated depreciation	(2,900)	(2,887)	(2,891)	(2,930)	(2,897)	(2,861)	(2,820)	(2,819)	(2,822)	(2,788)	(2,753)	(2,879)	(2,900)	(3,170)	(3,172)	(3,138)	(3,164)	(3,135)	(3,106)	(3,075)	(3,047)	(3,016)	(2,995)
Property, plant and equipment, less accumulated depreciation	1,618)	1,620)	1,624)	1,652)	1,629)	1,626)	1,593)	1,608)	1,587)	1,557)	1,547)	1,553)	1,518)	1,933)	1,982)	2,012)	2,009)	2,002)	1,997)	1,999)	1,962)	1,917)	1,922)
Goodwill	6,945)	6,945)	6,945)	6,791)	6,791)	6,790)	5,177)	5,177)	5,177)	5,177)	5,177)	5,177)	5,177)	5,177)	5,177)	5,177)	5,177)	5,177)	5,177)	5,177)	5,262)	5,196)	5,196)
Other intangible assets, net	13,010)	13,048)	13,439)	13,686)	13,727)	13,749)	12,366)	12,384)	12,353)	12,372)	12,289)	12,306)	12,326)	12,580)	12,598)	12,615)	12,633)	12,650)	12,668)	12,687)	12,688)	12,331)	12,327)
Investments in equity securities	8,153)	8,335)	8,396)	10,011)	9,907)	9,643)	9,559)	9,600)	9,814)	12,590)	13,479)	13,481)	13,874)	19,831)	20,133)	19,529)	19,408)	22,319)	23,861)	23,581)	27,346)	32,094)	32,015)
Other assets	942)	899)	873)	845)	1,025)	1,005)	979)	965)	1,002)	964)	981)	923)	649)	683)	857)	964)	1,025)	1,048)	980)	1,003)	1,364)	1,480)	1,511)
Non-current assets	30,668)	30,847)	31,277)	32,985)	33,079)	32,813)	29,674)	29,734)	29,933)	32,660)	33,473)	33,440)	33,544)	40,204)	40,747)	40,297)	40,252)	43,196)	44,683)	44,447)	48,622)	53,018)	52,971)
Total assets	34,167)	34,387)	36,475)	38,570)	36,469)	37,151)	36,826)	36,954)	33,953)	36,746)	40,235)	39,523)	39,564)	44,388)	48,776)	47,414)	46,651)	50,200)	52,618)	49,271)	52,913)	57,501)	59,233)

Cash and Cash Equivalents

The cash and cash equivalents exhibited significant fluctuations over the observed periods. Starting at 3,352 million USD in March 2019, there was an initial decline reaching a low of 1,604 million USD by September 2019, followed by a strong recovery peaking at 5,792 million USD in March 2021. Subsequent quarters saw volatility with a notable trough of 874 million USD in June 2023, but a rebound was seen by the end of 2024 with values again nearing previous highs.

Receivable from IQOS System Commercialization Rights

This item appeared only from March 2023 onward, with values around 1,700 million USD. This indicates a recent development related to IQOS commercialization rights, with consistent receivables recorded during these quarters.

Receivables

Receivables remained relatively stable but showed a downward trend from 158 million USD in early 2019 to a low of 36 million USD in September 2021. Thereafter, there was a gradual recovery climbing back to 87 million USD by September 2024, suggesting improved collection or sales activity in later periods.

Inventories (Leaf Tobacco, Other Raw Materials, Work In Process, Finished Product)

The overall inventory levels declined from 2,356 million USD in March 2019 to a trough of circa 1,101 million USD by September 2024. Specifically:

Leaf Tobacco: A decreasing trend from 930 million USD in early 2019 to 524 million USD by late 2024 indicates tighter inventory control or reduced procurement over time.
Other Raw Materials: Displayed modest fluctuations but maintained relatively stable levels ranging from 190 million USD down to 189 million USD, showing inventory management stability.
Work in Process: There was a sharp reduction from 651 million USD in early 2019 to values below 30 million USD post-2020, reflecting a significant change in production stages or reporting method.
Finished Product: This category decreased from 585 million USD in March 2019 to a low near 261 million USD by late 2021, with intermittent recoveries afterward trending slightly upward to 362 million USD by September 2024.

Income Taxes

Reported only in the most recent quarters (March 2023 through December 2023) with notable values ranging between 173 and 496 million USD, indicating periods of tax liabilities or settlements during these quarters.

Assets Held for Sale

This was reported as a single significant value of 1,490 million USD in June 2021, possibly pointing to a discrete asset divestiture or reclassification during that period.

Other Current Assets

The values fluctuated around 100 to 400 million USD but showed no clear trend, suggesting varying short-term asset management throughout the observed quarters.

Current Assets

There was a pronounced volatility in current assets, starting at 6,262 million USD in Q1 2019, dropping to around 3,390 million USD by March 2023, and then spiking again to 5,198 million USD in March 2024 before a slight decline towards the end of 2024. This pattern primarily aligns with fluctuations in cash and inventories.

Property, Plant and Equipment (PPE), Net of Accumulated Depreciation

The net PPE values remained broadly stable around 1,900 to 1,600 million USD, displaying a declining trend especially from 2019 to mid-2022 with some stabilization thereafter. The decline of net PPE from over 1,900 million USD to near 1,600 million USD suggests amortization surpassing new capital investments.

Goodwill

Goodwill held steady near 5,200 million USD until 2022, after which there was a marked increase reaching approximately 6,945 million USD by late 2024. This rise may indicate acquisitions or revaluations during this period.

Other Intangible Assets, Net

These assets slightly declined from 12,327 million USD in early 2019 to around 13,010 million USD by late 2024. The fluctuations suggest amortization balanced by occasional acquisitions or reassessments.

Investments in Equity Securities

There was a significant downward trend from a peak of 32,015 million USD in March 2019 to under 8,200 million USD by late 2024. This substantial reduction suggests divestiture or market value declines in equity securities holdings over the period.

Other Assets

These assets declined gradually from around 1,511 million USD to about 942 million USD by late 2024, indicating possible disposals or amortization over time.

Non-current Assets

Non-current assets overall decreased from roughly 52,971 million USD in early 2019 to around 30,668 million USD by September 2024. The declining trend corresponds with the reduction in equity securities and other long-lived assets, offset partially by stable intangible assets.

Total Assets

Total assets showed a clear decline from 59,233 million USD in March 2019 to approximately 34,167 million USD by the end of the analysis period. This overall contraction reflects the combined effects of reduced investments, asset disposals, depreciation, and other asset impairments or sales.

Assets: Selected Items

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Current Assets: Selected Items

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Altria Group Inc. (NYSE:MO)

Balance Sheet: Assets Quarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data