Investments in Equity Securities Investments in Equity Securities (Tables)

6 Months Ended

Jun. 30, 2020

Altria’s investments consisted of the following:



	Carrying Amount
	June 30, 2020		December 31, 2019
	(in millions)
ABI ⁽¹⁾	$	16,891	$	18,071
JUUL	4,205		4,205
Cronos⁽²⁾	1,223		1,305
Total	$	22,319	$	23,581

⁽¹⁾ Decrease in Altria’s investment in ABI at June 30, 2020 is due primarily to other comprehensive losses recorded in the second quarter of 2020 for Altria’s share of ABI’s first quarter of 2020 currency translation adjustments resulting from significant changes in foreign exchange rates in the countries in which ABI operates. For further discussion of Altria’s share of ABI’s other comprehensive losses, see Note 8. Other Comprehensive Earnings/Losses.

⁽²⁾ June 30, 2020 includes Altria’s equity method investment in Cronos ($1,017 million), the Cronos warrant ($166 million) and the Fixed-price Preemptive Rights ($40 million) and December 31, 2019 includes Altria’s equity method investment in Cronos ($1,002 million), the Cronos warrant ($234 million) and the Fixed -price Preemptive Rights ($69 million), as discussed further below.

Equity Method Investments

Earnings (losses) from equity investments accounted for under the equity method of accounting consisted of the following:



	For the Six Months Ended June 30,				For the Three Months Ended June 30,
	2020		2019		2020			2019
	(in millions)
ABI	$	112	$	388	$	(22	)	$	302
Cronos	54		145		31			145
Total	$	166	$	533	$	9		$	447