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Condensed Consolidating Financial Information (Tables)
6 Months Ended
Jun. 30, 2012
Condensed Consolidating Financial Information [Abstract]  
Schedule of Dividends Received From Subsidiaries [Table Text Block]
 
Altria Group, Inc.
 
PM USA
 
(in millions)
For the years ended:
 
 
 
December 31, 2011
$
3,666

 
$
213

December 31, 2010
$
3,438

 
$
179

December 31, 2009
$
3,711

 
$
136

For the:
 
 
 
Three months ended March 31, 2012
$
923

 
$
59

Nine months ended September 30, 2011
$
2,702

 
$
110

Six months ended June 30, 2011
$
1,783

 
$
55

Three months ended March 31, 2011
$
890

 
$
26

Condensed Consolidating Balance Sheets
Condensed Consolidating Balance Sheets
June 30, 2012
(in millions of dollars)
 
 
 
Altria
Group, Inc.
 
PM USA
 
Non-
Guarantor
Subsidiaries
 
Total
Consolidating
Adjustments
 
Consolidated
Assets
 
 
 
 
 
 
 
 
 
 
Consumer products
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
1,502

 
$
—

 
$
26

 
$
—

 
$
1,528

Receivables
 
164

 
17

 
75

 
—

 
256

Inventories:
 
 
 
 
 
 
 
 
 
 
Leaf tobacco
 
—

 
445

 
354

 
—

 
799

Other raw materials
 
—

 
135

 
49

 
—

 
184

Work in process
 
—

 
4

 
265

 
—

 
269

Finished product
 
—

 
180

 
252

 
—

 
432

 
 
—

 
764

 
920

 
—

 
1,684

Due from Altria Group, Inc. and subsidiaries
 
986

 
1,909

 
1,608

 
(4,503
)
 
—

Deferred income taxes
 
9

 
1,157

 
41

 
—

 
1,207

Other current assets
 
85

 
312

 
71

 
—

 
468

Total current assets
 
2,746

 
4,159

 
2,741

 
(4,503
)
 
5,143

Property, plant and equipment, at cost
 
2

 
3,294

 
1,454

 
—

 
4,750

Less accumulated depreciation
 
2

 
2,074

 
543

 
—

 
2,619

 
 
—

 
1,220

 
911

 
—

 
2,131

Goodwill
 
—

 
—

 
5,174

 
—

 
5,174

Other intangible assets, net
 
—

 
2

 
12,086

 
—

 
12,088

Investment in SABMiller
 
6,486

 
—

 
—

 
—

 
6,486

Investment in consolidated subsidiaries
 
9,411

 
3,028

 
—

 
(12,439
)
 
—

Due from Altria Group, Inc. and subsidiaries
 
4,500

 
—

 
—

 
(4,500
)
 
—

Other assets
 
191

 
553

 
100

 
(372
)
 
472

Total consumer products assets
 
23,334

 
8,962

 
21,012

 
(21,814
)
 
31,494

Financial services
 
 
 
 
 
 
 
 
 
 
Finance assets, net
 
—

 
—

 
3,012

 
—

 
3,012

Other assets
 
—

 
—

 
41

 
—

 
41

Total financial services assets
 
—

 
—

 
3,053

 
—

 
3,053

Total Assets
 
$
23,334

 
$
8,962

 
$
24,065

 
$
(21,814
)
 
$
34,547




Condensed Consolidating Balance Sheets (Continued)
June 30, 2012
(in millions of dollars)
 
 
 
Altria
Group, Inc.
 
PM USA
 
Non-
Guarantor
Subsidiaries
 
Total
Consolidating
Adjustments
 
Consolidated
Liabilities
 
 
 
 
 
 
 
 
 
 
Consumer products
 
 
 
 
 
 
 
 
 
 
Current portion of long-term debt
 
$
—

 
$
—

 
$
600

 
$
—

 
$
600

Accounts payable
 
69

 
127

 
139

 
—

 
335

Accrued liabilities:
 
 
 
 
 
 
 
 
 

Marketing
 
—

 
564

 
17

 
—

 
581

Taxes, except income taxes
 
—

 
203

 
15

 
—

 
218

Employment costs
 
25

 
9

 
76

 
—

 
110

Settlement charges
 
—

 
2,178

 
6

 
—

 
2,184

Other
 
308

 
552

 
357

 
—

 
1,217

Income taxes
 
—

 
—

 
—

 
—

 
—

Dividends payable
 
836

 
—

 
—

 
—

 
836

Due to Altria Group, Inc. and subsidiaries
 
2,506

 
349

 
1,316

 
(4,171
)
 
—

Total current liabilities
 
3,744

 
3,982

 
2,526

 
(4,171
)
 
6,081

Long-term debt
 
12,790

 
—

 
299

 
—

 
13,089

Deferred income taxes
 
2,046

 
—

 
3,400

 
(372
)
 
5,074

Accrued pension costs
 
230

 
—

 
909

 
—

 
1,139

Accrued postretirement health care costs
 
—

 
1,557

 
810

 
—

 
2,367

Due to Altria Group, Inc. and subsidiaries
 
—

 
—

 
4,500

 
(4,500
)
 
—

Other liabilities
 
251

 
203

 
152

 
—

 
606

Total consumer products liabilities
 
19,061

 
5,742

 
12,596

 
(9,043
)
 
28,356

Financial services
 
 
 
 
 
 
 
 
 
 
Deferred income taxes
 
—

 
—

 
1,764

 
—

 
1,764

Due to Altria Group, Inc. and subsidiaries
 
—

 
—

 
332

 
(332
)
 
—

Other liabilities
 
—

 
—

 
119

 
—

 
119

Total financial services liabilities
 
—

 
—

 
2,215

 
(332
)
 
1,883

Total liabilities
 
19,061

 
5,742

 
14,811

 
(9,375
)
 
30,239

Contingencies
 
 
 
 
 
 
 
 
 
 
Redeemable noncontrolling interest
 
—

 
—

 
33

 
—

 
33

Stockholders' Equity
 
 
 
 
 
 
 
 
 
 
Common stock
 
935

 
—

 
9

 
(9
)
 
935

Additional paid-in capital
 
5,647

 
3,321

 
10,215

 
(13,536
)
 
5,647

Earnings reinvested in the business
 
24,334

 
205

 
593

 
(798
)
 
24,334

Accumulated other comprehensive losses
 
(1,674
)
 
(306
)
 
(1,598
)
 
1,904

 
(1,674
)
Cost of repurchased stock
 
(24,969
)
 
—

 
—

 
—

 
(24,969
)
Total stockholders’ equity attributable to Altria Group, Inc.
 
4,273

 
3,220

 
9,219

 
(12,439
)
 
4,273

Noncontrolling interests
 
—

 
—

 
2

 
—

 
2

Total stockholders’ equity
 
4,273

 
3,220

 
9,221

 
(12,439
)
 
4,275

Total Liabilities and Stockholders’ Equity
 
$
23,334

 
$
8,962

 
$
24,065

 
$
(21,814
)
 
$
34,547


Condensed Consolidating Balance Sheets
December 31, 2011
(in millions of dollars)
 
 
 
Altria
Group, Inc.
 
PM USA
 
Non-
Guarantor
Subsidiaries
 
Total
Consolidating
Adjustments
 
Consolidated
Assets
 
 
 
 
 
 
 
 
 
 
Consumer products
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
3,245

 
$
—

 
$
25

 
$
—

 
$
3,270

Receivables
 
174

 
16

 
78

 
—

 
268

Inventories:
 
 
 
 
 
 
 
 
 
 
Leaf tobacco
 
—

 
565

 
369

 
—

 
934

Other raw materials
 
—

 
128

 
42

 
—

 
170

Work in process
 
—

 
4

 
312

 
—

 
316

Finished product
 
—

 
126

 
233

 
—

 
359

 
 
—

 
823

 
956

 
—

 
1,779

Due from Altria Group, Inc. and subsidiaries
 
403

 
3,007

 
1,765

 
(5,175
)
 
—

Deferred income taxes
 
9

 
1,157

 
41

 
—

 
1,207

Other current assets
 
6

 
430

 
247

 
(76
)
 
607

Total current assets
 
3,837

 
5,433

 
3,112

 
(5,251
)
 
7,131

Property, plant and equipment, at cost
 
2

 
3,280

 
1,446

 
—

 
4,728

Less accumulated depreciation
 
2

 
2,005

 
505

 
—

 
2,512

 
 
—

 
1,275

 
941

 
—

 
2,216

Goodwill
 
—

 
—

 
5,174

 
—

 
5,174

Other intangible assets, net
 
—

 
2

 
12,096

 
—

 
12,098

Investment in SABMiller
 
5,509

 
—

 
—

 
—

 
5,509

Investment in consolidated subsidiaries
 
7,009

 
3,035

 
—

 
(10,044
)
 
—

Due from Altria Group, Inc. and subsidiaries
 
6,500

 
—

 
—

 
(6,500
)
 
—

Other assets
 
941

 
586

 
111

 
(381
)
 
1,257

Total consumer products assets
 
23,796

 
10,331

 
21,434

 
(22,176
)
 
33,385

Financial services
 
 
 
 
 
 
 
 
 
 
Finance assets, net
 
—

 
—

 
3,559

 
—

 
3,559

Due from Altria Group, Inc. and subsidiaries
 
—

 
—

 
292

 
(292
)
 
—

Other assets
 
—

 
—

 
18

 
—

 
18

Total financial services assets
 
—

 
—

 
3,869

 
(292
)
 
3,577

Total Assets
 
$
23,796

 
$
10,331

 
$
25,303

 
$
(22,468
)
 
$
36,962



Condensed Consolidating Balance Sheets (Continued)
December 31, 2011
(in millions of dollars)
 
 
 
Altria
Group, Inc.
 
PM USA
 
Non-
Guarantor
Subsidiaries
 
Total
Consolidating
Adjustments
 
Consolidated
Liabilities
 
 
 
 
 
 
 
 
 
 
Consumer products
 
 
 
 
 
 
 
 
 
 
Current portion of long-term debt
 
$
—

 
$
—

 
$
600

 
$
—

 
$
600

Accounts payable
 
69

 
159

 
275

 
—

 
503

Accrued liabilities:
 
 
 
 
 
 
 
 
 

Marketing
 
—

 
390

 
40

 
—

 
430

Taxes, except income taxes
 
—

 
209

 
11

 
—

 
220

Employment costs
 
29

 
12

 
184

 
—

 
225

Settlement charges
 
—

 
3,508

 
5

 
—

 
3,513

Other
 
384

 
620

 
383

 
(76
)
 
1,311

Dividends payable
 
841

 
—

 
—

 
—

 
841

Due to Altria Group, Inc. and subsidiaries
 
3,792

 
474

 
1,201

 
(5,467
)
 
—

Total current liabilities
 
5,115

 
5,372

 
2,699

 
(5,543
)
 
7,643

Long-term debt
 
12,790

 
—

 
299

 
—

 
13,089

Deferred income taxes
 
1,787

 
—

 
3,345

 
(381
)
 
4,751

Accrued pension costs
 
236

 
—

 
1,426

 
—

 
1,662

Accrued postretirement health care costs
 
—

 
1,562

 
797

 
—

 
2,359

Due to Altria Group, Inc. and subsidiaries
 
—

 
—

 
6,500

 
(6,500
)
 
—

Other liabilities
 
188

 
216

 
198

 
—

 
602

Total consumer products liabilities
 
20,116

 
7,150

 
15,264

 
(12,424
)
 
30,106

Financial services
 
 
 
 
 
 
 
 
 
 
Deferred income taxes
 
—

 
—

 
2,811

 
—

 
2,811

Other liabilities
 
—

 
—

 
330

 
—

 
330

Total financial services liabilities
 
—

 
—

 
3,141

 
—

 
3,141

Total liabilities
 
20,116

 
7,150

 
18,405

 
(12,424
)
 
33,247

Contingencies
 
 
 
 
 
 
 
 
 
 
Redeemable noncontrolling interest
 
—

 
—

 
32

 
—

 
32

Stockholders' Equity
 
 
 
 
 
 
 
 
 
 
Common stock
 
935

 
—

 
9

 
(9
)
 
935

Additional paid-in capital
 
5,674

 
3,283

 
8,238

 
(11,521
)
 
5,674

Earnings reinvested in the business
 
23,583

 
210

 
265

 
(475
)
 
23,583

Accumulated other comprehensive losses
 
(1,887
)
 
(312
)
 
(1,649
)
 
1,961

 
(1,887
)
Cost of repurchased stock
 
(24,625
)
 
—

 
—

 
—

 
(24,625
)
Total stockholders’ equity attributable to Altria Group, Inc.
 
3,680

 
3,181

 
6,863

 
(10,044
)
 
3,680

Noncontrolling interests
 
—

 
—

 
3

 
—

 
3

Total stockholders’ equity
 
3,680

 
3,181

 
6,866

 
(10,044
)
 
3,683

Total Liabilities and Stockholder’s Equity
 
$
23,796

 
$
10,331

 
$
25,303

 
$
(22,468
)
 
$
36,962

Condensed Consolidating Statements Of Earnings And Comprehensive Earnings
Condensed Consolidating Statements of Earnings and Comprehensive Earnings
For The Six Months Ended June 30, 2012
(in millions of dollars)
 
 
 
Altria
Group, Inc.
 
PM USA
 
Non-
Guarantor
Subsidiaries
 
Total
Consolidating
Adjustments
 
Consolidated
Net revenues
 
$
—

 
$
10,646

 
$
1,500

 
$
(12
)
 
$
12,134

Cost of sales
 
—

 
3,475

 
415

 
(12
)
 
3,878

Excise taxes on products
 
—

 
3,411

 
149

 
—

 
3,560

Gross profit
 
—

 
3,760

 
936

 
—

 
4,696

Marketing, administration and research costs
 
87

 
918

 
125

 
—

 
1,130

Asset impairment and exit costs
 
—

 
36

 
1

 
—

 
37

Amortization of intangibles
 
—

 
—

 
10

 
—

 
10

Operating (expense) income
 
(87
)
 
2,806

 
800

 
—

 
3,519

Interest and other debt expense (income), net
 
367

 
(1
)
 
220

 
—

 
586

Earnings from equity investment in SABMiller
 
(743
)
 
—

 
—

 
—

 
(743
)
Earnings before income taxes and equity earnings of subsidiaries
 
289

 
2,807

 
580

 
—

 
3,676

Provision for income taxes
 
55

 
1,040

 
160

 
—

 
1,255

Equity earnings of subsidiaries
 
2,186

 
107

 
—

 
(2,293
)
 
—

Net earnings
 
2,420

 
1,874

 
420

 
(2,293
)
 
2,421

Net earnings attributable to noncontrolling interests
 
—

 
—

 
(1
)
 
—

 
(1
)
Net earnings attributable to Altria Group, Inc.
 
$
2,420

 
$
1,874

 
$
419

 
$
(2,293
)
 
$
2,420

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net earnings
 
$
2,420

 
$
1,874

 
$
420

 
$
(2,293
)
 
$
2,421

Other comprehensive earnings, net of deferred income taxes
 
213

 
6

 
51

 
(57
)
 
213

Comprehensive earnings
 
2,633

 
1,880

 
471

 
(2,350
)
 
2,634

Comprehensive earnings attributable to noncontrolling interests
 
—

 
—

 
(1
)
 
—

 
(1
)
Comprehensive earnings attributable to Altria Group, Inc.
 
$
2,633

 
$
1,880

 
$
470

 
$
(2,350
)
 
$
2,633



Condensed Consolidating Statements of Earnings and Comprehensive Earnings
For The Six Months Ended June 30, 2011
(in millions of dollars)
 
 
 
Altria
Group, Inc.
 
PM USA
 
Non-
Guarantor
Subsidiaries
 
Total
Consolidating
Adjustments
 
Consolidated
Net revenues
 
$
—

 
$
10,698

 
$
877

 
$
(12
)
 
$
11,563

Cost of sales
 
—

 
3,455

 
382

 
(12
)
 
3,825

Excise taxes on products
 
—

 
3,452

 
166

 
—

 
3,618

Gross profit
 
—

 
3,791

 
329

 
—

 
4,120

Marketing, administration and research costs
 
84

 
1,052

 
136

 
—

 
1,272

Asset impairment and exit costs
 
—

 
3

 
—

 
—

 
3

Amortization of intangibles
 
—

 
—

 
11

 
—

 
11

Operating (expense) income
 
(84
)
 
2,736

 
182

 
—

 
2,834

Interest and other debt expense, net
 
340

 
4

 
228

 
—

 
572

Earnings from equity investment in SABMiller
 
(344
)
 
—

 
—

 
—

 
(344
)
(Loss) earnings before income taxes and equity earnings of subsidiaries
 
(80
)
 
2,732

 
(46
)
 
—

 
2,606

(Benefit) provision for income taxes
 
(71
)
 
1,016

 
279

 
—

 
1,224

Equity earnings of subsidiaries
 
1,390

 
67

 
—

 
(1,457
)
 

Net earnings (loss)
 
1,381

 
1,783

 
(325
)
 
(1,457
)
 
1,382

Net earnings attributable to noncontrolling interests
 
—

 
—

 
(1
)
 
—

 
(1
)
Net earnings (loss) attributable to Altria Group, Inc.
 
$
1,381

 
$
1,783

 
$
(326
)
 
$
(1,457
)
 
$
1,381

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net earnings (loss)
 
$
1,381

 
$
1,783

 
$
(325
)
 
$
(1,457
)
 
$
1,382

Other comprehensive earnings, net of deferred income taxes
 
205

 
7

 
53

 
(60
)
 
205

Comprehensive earnings (loss)
 
1,586

 
1,790

 
(272
)
 
(1,517
)
 
1,587

Comprehensive earnings attributable to noncontrolling interests
 
—

 
—

 
(1
)
 
—

 
(1
)
Comprehensive earnings (loss) attributable to Altria Group, Inc.
 
$
1,586

 
$
1,790

 
$
(273
)
 
$
(1,517
)
 
$
1,586




Condensed Consolidating Statements of Earnings and Comprehensive Earnings
For The Three Months Ended June 30, 2012
(in millions of dollars)
 
 
 
Altria
Group, Inc.
 
PM USA
 
Non-
Guarantor
Subsidiaries
 
Total
Consolidating
Adjustments
 
Consolidated
Net revenues
 
$
—

 
$
5,724

 
$
769

 
$
(6
)
 
$
6,487

Cost of sales
 
—

 
1,876

 
216

 
(6
)
 
2,086

Excise taxes on products
 
—

 
1,834

 
73

 
—

 
1,907

Gross profit
 

 
2,014

 
480

 

 
2,494

Marketing, administration and research costs
 
53

 
487

 
56

 
—

 
596

Asset impairment and exit costs
 
—

 
16

 
—

 
—

 
16

Amortization of intangibles
 
—

 
—

 
5

 
—

 
5

Operating (expense) income
 
(53
)
 
1,511

 
419

 
—

 
1,877

Interest and other debt expense, net
 
182

 
—

 
111

 
—

 
293

Earnings from equity investment in SABMiller
 
(223
)
 
—

 
—

 
—

 
(223
)
(Loss) earnings before income taxes and equity earnings of subsidiaries
 
(12
)
 
1,511

 
308

 
—

 
1,807

(Benefit) provision for income taxes
 
(29
)
 
558

 
52

 
—

 
581

Equity earnings of subsidiaries
 
1,208

 
58

 
—

 
(1,266
)
 
—

Net earnings
 
1,225

 
1,011

 
256

 
(1,266
)
 
1,226

Net earnings attributable to noncontrolling interests
 
—

 
—

 
(1
)
 
—

 
(1
)
Net earnings attributable to Altria Group, Inc.
 
$
1,225

 
$
1,011

 
$
255

 
$
(1,266
)
 
$
1,225

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net earnings
 
$
1,225

 
$
1,011

 
$
256

 
$
(1,266
)
 
$
1,226

Other comprehensive earnings, net of deferred income taxes
 
11

 
7

 
30

 
(37
)
 
11

Comprehensive earnings
 
1,236

 
1,018

 
286

 
(1,303
)
 
1,237

Comprehensive earnings attributable to noncontrolling interests
 
—

 
—

 
(1
)
 
—

 
(1
)
Comprehensive earnings attributable to Altria Group, Inc.
 
$
1,236

 
$
1,018

 
$
285

 
$
(1,303
)
 
$
1,236




 
Condensed Consolidating Statements of Earnings and Comprehensive Earnings
For The Three Months Ended June 30, 2011
(in millions of dollars)
 
 
 
Altria
Group, Inc.
 
PM USA
 
Non-
Guarantor
Subsidiaries
 
Total
Consolidating
Adjustments
 
Consolidated
Net revenues
 
$
—

 
$
5,687

 
$
239

 
$
(6
)
 
$
5,920

Cost of sales
 
—

 
1,838

 
198

 
(6
)
 
2,030

Excise taxes on products
 
—

 
1,833

 
85

 
—

 
1,918

Gross profit (loss)
 

 
2,016

 
(44
)
 

 
1,972

Marketing, administration and research costs
 
39

 
554

 
78

 
—

 
671

Asset impairment and exit costs
 
—

 
1

 
—

 
—

 
1

Amortization of intangibles
 
—

 
—

 
5

 
—

 
5

Operating (expense) income
 
(39
)
 
1,461

 
(127
)
 

 
1,295

Interest and other debt expense, net
 
175

 
6

 
113

 
—

 
294

Earnings from equity investment in SABMiller
 
(155
)
 
—

 
—

 
—

 
(155
)
(Loss) earnings before income taxes and equity earnings of subsidiaries
 
(59
)
 
1,455

 
(240
)
 

 
1,156

(Benefit) provision for income taxes
 
(41
)
 
543

 
210

 
—

 
712

Equity earnings of subsidiaries
 
462

 
42

 
—

 
(504
)
 
—

Net earnings (loss) attributable to Altria Group, Inc.
 
$
444

 
$
954

 
$
(450
)
 
$
(504
)
 
$
444

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net earnings (loss) attributable to Altria Group, Inc.
 
$
444

 
$
954

 
$
(450
)
 
$
(504
)
 
$
444

Other comprehensive earnings, net of deferred income taxes
 
112

 
3

 
27

 
(30
)
 
112

Comprehensive earnings (loss) attributable to Altria Group, Inc.
 
$
556

 
$
957

 
$
(423
)
 
$
(534
)
 
$
556

Condensed Consolidating Statements Of Cash Flows
Condensed Consolidating Statements of Cash Flows
For The Six Months Ended June 30, 2012
(in millions of dollars)
 
 
 
Altria
Group, Inc.
 
PM USA
 
Non-
Guarantor
Subsidiaries
 
Total
Consolidating
Adjustments
 
Consolidated
Cash Provided by (Used In) Operating Activities
 
 
 
 
 
 
 
 
 
 
Net cash provided by operating activities
 
$
714

 
$
935

 
$
229

 
$
(1,963
)
 
$
(85
)
Cash Provided by (Used In) Investing Activities
 
 
 
 
 
 
 
 
 
 
Consumer products
 
 
 
 
 
 
 
 
 
 
Capital expenditures
 
—

 
(11
)
 
(28
)
 
—

 
(39
)
Other
 
—

 
—

 
(3
)
 
—

 
(3
)
Financial services
 
 
 
 
 
 
 
 
 
 
Proceeds from finance assets
 
—

 
—

 
552

 
—

 
552

Net cash (used in) provided by investing activities
 
—

 
(11
)
 
521

 
—

 
510

Cash Provided by (Used In) Financing Activities
 
 
 
 
 
 
 
 
 
 
Consumer products
 
 
 
 
 
 
 
 
 
 
Repurchases of common stock
 
(360
)
 
—

 
—

 
—

 
(360
)
Dividends paid on common stock
 
(1,674
)
 
—

 
—

 
—

 
(1,674
)
Changes in amounts due to/from Altria Group, Inc. and subsidiaries
 
(424
)
 
960

 
(536
)
 
—

 
—

Cash dividends paid to parent
 
—

 
(1,845
)
 
(118
)
 
1,963

 
—

Other
 
1

 
(39
)
 
(95
)
 
—

 
(133
)
Net cash used in financing activities
 
(2,457
)
 
(924
)
 
(749
)
 
1,963

 
(2,167
)
Cash and cash equivalents:
 
 
 
 
 
 
 
 
 
 
(Decrease) Increase
 
(1,743
)
 
—

 
1

 
—

 
(1,742
)
Balance at beginning of period
 
3,245

 
—

 
25

 
—

 
3,270

Balance at end of period
 
$
1,502

 
$
—

 
$
26

 
$
—

 
$
1,528




 
Condensed Consolidating Statements of Cash Flows
For The Six Months Ended June 30, 2011
(in millions of dollars)
 
 
 
Altria
Group, Inc.
 
PM USA
 
Non-
Guarantor
Subsidiaries
 
Total
Consolidating
Adjustments
 
Consolidated
Cash Provided by (Used In) Operating Activities
 
 
 
 
 
 
 
 
 
 
Net cash provided by (used in) operating activities
 
$
1,356

 
$
1,022

 
$
(61
)
 
$
(1,838
)
 
$
479

Cash Provided by (Used In) Investing Activities
 
 
 
 
 
 
 
 
 
 
Consumer products
 
 
 
 
 
 
 
 
 
 
Capital expenditures
 
—

 
(10
)
 
(30
)
 
—

 
(40
)
Other
 
—

 
1

 
—

 
—

 
1

Financial services
 
 
 
 
 
 
 
 
 
 
Proceeds from finance assets
 
—

 
—

 
129

 
—

 
129

Net cash (used in) provided by investing activities
 
—

 
(9
)
 
99

 
—

 
90

Cash Provided by (Used In) Financing Activities
 
 
 
 
 
 
 
 
 
 
Consumer products
 
 
 
 
 
 
 
 
 
 
Long-term debt issued
 
1,494

 
—

 
—

 
—

 
1,494

Repurchases of common stock
 
(575
)
 
—

 
—

 
—

 
(575
)
Dividends paid on common stock
 
(1,589
)
 
—

 
—

 
—

 
(1,589
)
Issuances of common stock
 
29

 
—

 
—

 
—

 
29

Changes in amounts due to/from Altria Group, Inc. and subsidiaries
 
(975
)
 
880

 
95

 
—

 
—

Financing fees and debt issuance costs
 
(23
)
 
—

 
—

 
—

 
(23
)
Cash dividends paid to parent
 
—

 
(1,783
)
 
(55
)
 
1,838

 
—

Other
 
26

 
(110
)
 
(71
)
 
—

 
(155
)
Net cash used in financing activities
 
(1,613
)
 
(1,013
)
 
(31
)
 
1,838

 
(819
)
Cash and cash equivalents:
 
 
 
 
 
 
 
 
 
 
(Decrease) Increase
 
(257
)
 
—

 
7

 
—

 
(250
)
Balance at beginning of period
 
2,298

 
—

 
16

 
—

 
2,314

Balance at end of period
 
$
2,041

 
$
—

 
$
23

 
$
—

 
$
2,064