Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Segment Data Schedule

Segment data were as follows:

	For the Years Ended December 31,
(in millions)	2025		2024		2023
Net revenues:
Smokeable products	$	20,485	$	21,204	$	21,756
Oral tobacco products	2,802		2,776		2,667
E-vapor products	(13)		40		62
All other	5		(2)		(2)
Net revenues	$	23,279	$	24,018	$	24,483
Earnings before income taxes:
OCI:
Smokeable products	$	10,984	$	10,821	$	10,670
Oral tobacco products	1,828		1,449		1,722
E-vapor products	(2,297)		(171)		(16)
All other	(229)		(243)		(58)
Amortization of intangibles	(132)		(139)		(128)
General corporate expenses	(255)		(476)		(643)
Operating income	9,899		11,241		11,547
Interest and other debt expense, net	1,079		1,037		989
Net periodic benefit income, excluding service cost	(59)		(102)		(127)
(Income) losses from investments in equity securities	(510)		(652)		(243)
Gain on the sale of IQOS System commercialization rights	—		(2,700)		—
Earnings before income taxes	$	9,389	$	13,658	$	10,928

Smokeable products segment OCI consisted of the following, including expenses under the significant expense principle in accordance with GAAP:

	For the Years Ended December 31,
(in millions)	2025		2024		2023
Net revenues	$	20,485	$	21,204	$	21,756
Settlement charges (1)	(3,028)		(3,460)		(3,711)
Excise taxes on products sold	(3,042)		(3,469)		(3,869)
Other segment items (2)	(3,431)		(3,454)		(3,506)
Operating companies income	$	10,984	$	10,821	$	10,670

(1) Represents charges related to State Settlement Agreements included in cost of sales. For additional information, see Health Care Cost Recovery Litigation in Note 18. Contingencies.

(2) Other segment items includes manufacturing, marketing, administration and research costs, FDA user fees and other costs.

Schedule of Depreciation Expense and Capital Expenditures of Segments

Details of our depreciation expense and capital expenditures were as follows:

	For the Years Ended December 31,
(in millions)	2025		2024		2023
Depreciation expense:
Smokeable products	$	58	$	67	$	73
Oral tobacco products	41		42		37
E-vapor products	—		3		2
General corporate and other	35		35		32
Total depreciation expense	$	134	$	147	$	144
Capital expenditures:
Smokeable products	$	107	$	54	$	77
Oral tobacco products	75		39		59
E-vapor products	1		—		—
General corporate and other	33		49		60
Total capital expenditures	$	216	$	142	$	196

Schedule of Non-Participating Manufacturer Adjustment Items

We recorded net pre-tax income for NPM adjustment items as follows:

	For the Years Ended December 31,
(in millions)	2025		2024		2023
Smokeable products segment	$	(24)	$	(29)	$	(29)
Interest and other debt expense, net	4		2		(21)
Total	$	(20)	$	(27)	$	(50)

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 Years Ended December 31,
(in millions)	2025		2024		2023
Smokeable products segment	$	55	$	70	$	69
General corporate expenses	—		30		350
Interest and other debt expense, net	3		1		11
Total	$	58	$	101	$	430