Finance Assets, net (Tables)

12 Months Ended

Dec. 31, 2013

Receivables [Abstract]

Schedule of PMCC Leveraged Lease Charge

For the years ended December 31, 2012 and 2011, the benefit/charge associated with PMCC’s leveraged lease transactions was recorded in Altria Group, Inc.’s consolidated statements of earnings as follows:

(in millions)	For the Year Ended December 31, 2012								For the Year Ended December 31, 2011
	Net Revenues		Benefit for Income Taxes			Total			Net Revenues		(Benefit) Provision for Income Taxes			Total
Reduction to cumulative lease earnings	$	7	$	(2	)	$	5		$	490	$	(175	)	$	315
Interest on tax underpayments	—		(73		)	(73		)	—		312			312
Total	$	7	$	(75	)	$	(68	)	$	490	$	137		$	627

Summary of Net Investments in Finance Leases

A summary of the net investments in finance leases at December 31, 2013 and 2012 before allowance for losses was as follows:

	Leveraged Leases						Direct Finance Leases						Total
(in millions)	2013			2012			2013			2012			2013			2012
Rents receivable, net	$	1,423		$	2,378		$	72		$	116		$	1,495		$	2,494
Unguaranteed residual values	1,040			1,068			87			87			1,127			1,155
Unearned income	(572		)	(968		)	(1		)	(1		)	(573		)	(969		)
Investments in finance leases	1,891			2,478			158			202			2,049			2,680
Deferred income taxes	(1,376		)	(1,654		)	(64		)	(89		)	(1,440		)	(1,743		)
Net investments in finance leases	$	515		$	824		$	94		$	113		$	609		$	937

Schedule of Leveraged and Direct Finance Rents Receivable

Rents receivable in excess of debt service requirements on third-party nonrecourse debt related to leveraged leases and rents receivable from direct finance leases at December 31, 2013 were as follows:

(in millions)	Leveraged Leases		Direct Finance Leases		Total
2014	$	92	$	45	$	137
2015	229		—		229
2016	53		—		53
2017	81		—		81
2018	170		—		170
Thereafter	798		27		825
Total	$	1,423	$	72	$	1,495

Schedule of Allowance for Losses on Finance Assets

The activity in the allowance for losses on finance assets for the years ended December 31, 2013, 2012 and 2011 was as follows:

(in millions)	2013			2012			2011
Balance at beginning of year	$	99		$	227		$	202
(Decrease) increase to allowance	(47		)	(10		)	25
Amounts written-off	—			(118		)	—
Balance at end of year	$	52		$	99		$	227

Schedule of Credit Quality of Investments in Finance Leases

The credit quality of PMCC’s investments in finance leases as assigned by Standard & Poor’s Ratings Services (“Standard & Poor’s”) and Moody’s Investors Service, Inc. (“Moody’s”) at December 31, 2013 and 2012 was as follows:

(in millions)	2013		2012
Credit Rating by Standard & Poor’s/Moody’s:
“AAA/Aaa” to “A-/A3”	$	464	$	961
“BBB+/Baa1” to “BBB-/Baa3”	927		938
“BB+/Ba1” and Lower	658		781
Total	$	2,049	$	2,680