Condensed Consolidated Statements of Cash Flows $ in Millions	9 Months Ended
	Sep. 30, 2025 USD ($)		Sep. 30, 2024 USD ($)
Cash Provided by (Used in) Operating Activities
Net earnings	$ 5,830		$ 8,225
Adjustments to reconcile net earnings to operating cash flows:
Depreciation and amortization	212		213
Deferred income tax provision	(194)		459
Unrecognized tax benefit	291	[1]	80	[1]
Fair value adjustment for NJOY Transaction contingent payments	25		0
(Income) losses from investments in equity securities	(398)		(530)
Gain on the sale of IQOS System commercialization rights	0		(2,700)
Dividends from ABI	181		139
Asset impairment and exit costs, net of cash paid	(9)		354
Impairment of goodwill	873		0
Cash effects of changes
Receivables	(72)		(14)
Inventories	(22)		114
Accounts payable	(30)		(68)
Income taxes	404		396
Accrued liabilities and other current assets	(856)		(919)
Accrued settlement charges	(467)		(445)
Pension plan contributions	(11)		(13)
Pension and postretirement, net	(60)		(76)
Other, net	322		198
Net cash provided by (used in) operating activities	6,019		5,413
Cash Provided by (Used in) Investing Activities
Capital expenditures	(124)		(95)
Proceeds from the ABI Transaction	0	[2]	2,353	[2]
Other, net	(15)		(20)
Net cash provided by (used in) investing activities	(139)		2,238
Cash Provided by (Used in) Financing Activities
Long-term debt issued	1,992		0
Long-term debt repaid	(1,607)		(1,121)
Repurchase of common stock	(712)		(3,090)
Dividends paid on common stock	(5,175)		(5,108)
Other, net	(40)		(125)
Net cash provided by (used in) financing activities	(5,542)		(9,444)
Cash, cash equivalents and restricted cash:
Increase (decrease)	338		(1,793)
Balance at beginning of period	3,158		3,721
Balance at end of period	3,496		$ 1,928
Cash and cash equivalents	3,472
Restricted cash included in other current assets	9	[3]
Restricted cash included in other assets	$ 15	[3]

[1] 2025 relates to unrecognized tax benefits from the change in the application of foreign attribution rules relevant to our investment in ABI. See Note 13. Income Taxes.

[2] See Note 6. Investments in Equity Securities.

[3] Restricted cash consisted of cash deposits collateralizing appeal bonds posted by PM USA to obtain stays of judgments pending appeals. See Note 14. Contingencies.