Master Trust Investments (Tables)

12 Months Ended

Dec. 31, 2025

EBP Salaried DPS Plan | Master Trust

EBP, Master Trust [Line Items]

Schedule of Master Trust Net Assets

At December 31, 2025 and 2024, the net assets of the Master Trust and Master Trust B, respectively, were as follows (in thousands of dollars): 

	2025				2024
	Master Trust Balances		Plan’s interest in Master Trust Balances		Master Trust B Balances		Plan’s interest in Master Trust B Balances
Investments at fair value:
Altria Stock	$	1,456,691	$	1,006,643	$	1,357,573	$	940,726
Cash and cash equivalents	40		17		36		14
Collective investment funds	2,688,978		2,391,388		—		—
Registered investment companies	651,804		594,094		—		—
Government securities	137,213		116,724		—		—
Other	16,145		10,486		—		—
Total investments at fair value	4,950,871		4,119,352		1,357,609		940,740
Investments at contract value:
Fully benefit-responsive investment contracts	494,528		364,901		—		—
Total Investments	5,445,399		4,484,253		1,357,609		940,740
Receivables:
Dividends on Altria Stock	15,360		12,250		15,362		12,202
Interest and dividend income on other investments	29		—		—		—
Other	560		—		—		—
Payables:
Administrative expenses	(963)		—		—		—
Net assets	$	5,460,385	$	4,496,503	$	1,372,971	$	952,942

The table below presents Master Trust investment activities for the year ended December 31, 2025, including activities related to assets transferred from Master Trust A beginning on the Transition Date (in thousands of dollars): 

Dividends on Altria Stock	$	106,187
Net appreciation in Altria Stock	140,966
Interest and dividends on other investments	68,205
Net appreciation in fair value of other investments	275,881
Investment income	$	591,239
Plan’s interest in investment income from Master Trust	$	495,590