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Segment Reporting (Tables)
9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
Segment data were as follows:
For the Nine Months Ended September 30,For the Three Months Ended September 30,
(in millions)2025202420252024
Net revenues:
Smokeable products$15,366 $15,941 $5,387 $5,540 
Oral tobacco products2,096 2,084 689 722 
All other(29)19 (4)(3)
Net revenues$17,433 $18,044 $6,072 $6,259 
Earnings before income taxes:
OCI:
Smokeable products$8,341 $8,183 $2,942 $2,937 
Oral tobacco products1,390 996 459 464 
All other(1,198)(291)(76)(119)
Amortization of intangibles(112)(102)(38)(38)
General corporate expenses(173)(427)(57)(92)
Operating income8,248 8,359 3,230 3,152 
Interest and other debt expense, net815 782 278 267 
Net periodic benefit income, excluding service cost(45)(74)(16)(25)
(Income) losses from investments in equity securities(398)(530)(107)(116)
Gain on the sale of IQOS System commercialization rights
 (2,700) — 
Earnings before income taxes$7,876 $10,881 $3,075 $3,026 
Smokeable products segment OCI consisted of the following, including expenses under the significant expense principle in accordance with GAAP:
For the Nine Months Ended September 30,For the Three Months Ended September 30,
(in millions)2025202420252024
Net revenues$15,366 $15,941 $5,387 $5,540 
Settlement charges (1)
(2,278)(2,654)(792)(875)
Excise taxes on products sold(2,299)(2,630)(797)(888)
Other segment items (2)
(2,448)(2,474)(856)(840)
Operating companies income$8,341 $8,183 $2,942 $2,937 
(1) Represents charges related to State Settlement Agreements included in cost of sales. For additional information, see Health Care Cost Recovery Litigation in Note 14. Contingencies.
(2) Other segment items includes manufacturing, marketing, administration and research costs and FDA user fees.
Segment, Reconciliation of Other Items from Segments to Consolidated
Details of our depreciation expense and capital expenditures were as follows:
 For the Nine Months Ended September 30,For the Three Months Ended September 30,
(in millions)2025202420252024
Depreciation expense:
Smokeable products$44 $52 $15 $16 
Oral tobacco products30 30 9 
General corporate and other26 29 8 11 
Total depreciation expense$100 $111 $32 $36 
Capital expenditures:
Smokeable products$57 $38 $27 $11 
Oral tobacco products42 24 20 
General corporate and other25 33 7 12 
Total capital expenditures$124 $95 $54 $31 
Schedule of Non-Participating Manufacturer Adjustment Items and Other Items We recorded net pre-tax income for NPM adjustment items as follows:
For the Nine Months Ended September 30,For the Three Months Ended September 30,
(in millions)2025202420252024
Smokeable products segment$(2)$(29)$(2)$(23)
Interest and other debt expense, net  
Total$(2)$(27)$(2)$(21)
Schedule of Tobacco and Health and Certain Other Litigation Items We recorded pre-tax charges related to tobacco and health and certain other litigation items as follows:
For the Nine Months Ended September 30,For the Three Months Ended September 30,
(in millions)2025202420252024
Smokeable products segment
$44 59 4 21 
General corporate expenses 30 (1)— 
Interest and other debt expense, net
4  
Total$48 $90 $3 $22