Altria Group, Inc., previously known as Philip Morris Companies Inc, is one of the world’s largest tobacco corporations.
The holding company was incorporated in the Commonwealth of Virginia in 1985.
It is the parent company of three premier tobacco companies in the United States: Philip Morris USA, U.S. Smokeless Tobacco Company (smokeless tobacco products), and John Middleton, Inc (manufactures and sells machine-made large cigars and pipe tobacco).
Philip Morris USA has over half of the American cigarette market share, led by its iconic brands, which include: Marlboro, Basic, L&M, Parliament and Virginia Slims. Marlboro has been the largest-selling cigarette brand in the United States for over 35 years.
Altria Group is also active in the alcohol business with its Ste. Michelle Wine Estate’s extensive portfolio of wines and economic interest in SABMiller plc (one of the world’s largest brewing companies).
Philip Morris Companies Inc changed its name to Altria Group, Inc in 2003 to highlight the fact that its business portfolio consists of more than just Philip Morris.
Its mission is “to own and develop financially disciplined businesses that are leaders in responsibly providing adult tobacco and wine consumers with superior branded products.”
Overview
- Chairman and CEO: Martin Barrington
- Industry: Tobacco and Wine
- Type: Public company
- Listed on New York Stock Exchange (NYSE)
- NYSE stock symbol: MO
- S&P 500 Component
- Formed: 1985
- Net revenues: $24.522 billion USD (2014)
- Net earnings: $5.070 billion USD (2014)
- Earnings per share: $2.56 USD (2014)
- Company head office: 6601 West Broad Street, Richmond, VA 23230, USA
- Employees: 9,000 (2014)
- Website: http://www.altria.com/
- Investor relations number: 804-484-8222
Altria Group, Inc. Financial Results, Years Ended December 31
| Operating data (in $ millions) | 2014 | 2013 |
| Net revenues | $24,522 | $24,466 |
| Cost of sales | $7,785 | $7,206 |
| Excise taxes on products | $6,577 | $6,803 |
| Operating income | $7,620 | $8,084 |
| Interest and other debt expense, net | $808 | $1,049 |
| Earnings from equity investment in SABMiller | $(1,006) | $(991) |
| Earnings before income taxes | $7,774 | $6,942 |
| Provision for income taxes | $2,704 | $2,407 |
| Net earnings | $5,070 | $4,535 |
| Net earnings attributable to Altria Group, Inc. | $5,070 | $4,535 |
| Balance sheet data (in $ millions) | ||
| Total assets | $34,475 | $34,859 |
| Total liabilities | $31,430 | $30,706 |
| Total stockholders’ equity | $3,010 | $4,118 |
| Common share data (in $) | ||
| Basic earnings per share | $2.56 | $2.26 |
| Diluted earnings per share | $2.56 | $2.26 |
| Cash flow data (in $ millions) | ||
| Net cash provided by operating activities | $4,663 | $4,375 |
| Net cash provided by investing activities | $177 | $602 |
| Net cash used in financing activities | $(4,694) | $(4,702) |
| Cash and cash equivalents at beginning of year | $3,175 | $2,900 |
| Cash and cash equivalents at end of year | $3,321 | $3,175 |
Source: “Altria Group, Inc. Form 10-K 2014”