01—Abstract
Summary
Summary of the 10-K/A filed August 13, 2013. Cited figures are marked; the original filing is the authoritative source.
Altria Group, Inc. filed an amendment to its 2012 10-K on August 13, 2013, primarily to incorporate financial statements of SABMiller, in which Altria holds a significant stake.
Investors should note that this filing is an amendment and not the original 10-K. The core business of Altria remains focused on tobacco products, including cigarettes, smokeless tobacco, and cigars, with its primary operating segments being U.S. Smokeless Tobacco Company, John Middleton Co., and Ste.
Michelle Wine Estates. The incorporation of SABMiller's financials suggests a material impact or interest from this investment on Altria's consolidated results, though the specific details of this impact would be found within the referenced exhibits.
02—Key points
Key Highlights
- The filing is an amendment (10-K/A) to the original 2012 10-K, filed on August 13, 2013.
- Key financial statements from SABMiller are incorporated by reference, indicating a significant relationship or investment.
- Altria's primary business segments include U.S. Smokeless Tobacco Company, John Middleton Co., and Ste. Michelle Wine Estates.
- The company operates within the tobacco industry, producing cigarettes, smokeless tobacco, and cigars.
- Exhibit 23.1, the Consent of Independent Accountants, is included as part of this amendment.
- The filing is primarily for disclosure purposes related to the SABMiller investment.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in FY2012, Altria Group, Inc. kept $0.17.
- Revenue$24.62B100.0%
- Cost of revenue−$15.05B61.2%
- Gross profit$9.56B38.8%
- Operating costs−$2.31B9.4%
- Operating income$7.25B29.5%
- Interest, other & tax−$3.07B12.5%
- Net income$4.18B17.0%
Where FY2012 revenue went
$24.62B- Other operating costs: $9.29B, 38% of revenue
- Cost of revenue: $7.94B, 32% of revenue
- Net income: $4.18B, 17% of revenue
- Interest, other & tax: $3.07B, 12% of revenue
- R&D: $136.0M, 0.6% of revenue
Kept 17% as net income
Full revenue history →04—Financials
Financial Highlights
Figures from 10-K/AFY2012filed August 13, 2013Financial Statements
FY2012 against FY2011
| Line item | FY2012FY2011 | Change |
|---|---|---|
| Revenue | $24.62B$23.80B | +3.4% |
| Cost of Revenue | $7.94B$7.68B | +3.3% |
| Gross Profit | $9.56B$8.94B | +7.0% |
| R&D Expenses | $136.00M$128.00M | +6.3% |
| Operating Income | $7.25B$6.07B | +19.5% |
| Interest Expense | $1.13B$1.22B | −7.5% |
| Net Income | $4.18B$3.39B | +23.3% |
| EPS (Basic) | $2.06$1.64 | +25.6% |
| EPS (Diluted) | $2.06$1.64 | +25.6% |
| Shares Outstanding (Basic) | 2.02B2.06B | −1.9% |
| Shares Outstanding (Diluted) | 2.02B2.06B | −1.9% |
05—Questions
Frequently Asked Questions
What is the main purpose of this 10-K/A filing?
The primary purpose of this amendment is to incorporate the financial statements of SABMiller, which are provided in Exhibits 99.4 and 99.5. This suggests a material interest or investment by Altria Group in SABMiller that requires consolidated financial reporting.
Does this filing contain new financial performance information for Altria's core businesses?
This amendment primarily focuses on incorporating SABMiller's financials. While it's an amendment to the 2012 10-K, detailed operational and financial performance for Altria's core segments like cigarettes, smokeless tobacco, and wine would have been in the original 10-K filing. Investors should refer to the original 10-K for a comprehensive overview of Altria's own business performance.
What is SABMiller and why are its financials included?
SABMiller is a globalized company with interests in the alcoholic beverages industry. Its financial statements are included because Altria Group has a significant investment in or relationship with SABMiller, necessitating their inclusion in Altria's consolidated filings for a complete financial picture.
Are there any significant risks or legal matters discussed in this specific amendment?
This amendment is primarily for financial statement incorporation. Significant risks, legal matters, and other disclosures related to Altria's operations would have been detailed in the original 10-K filing. This amendment itself does not introduce new risk factors but rather supplements the financial reporting.
06—Continue