01—Abstract
Summary
Summary of the 10-K/A filed June 15, 2017. Cited figures are marked; the original filing is the authoritative source.
Altria Group, Inc. (MO) filed its 2016 Annual Report Amendment on June 14, 2017.
This filing primarily serves to incorporate by reference the AB InBev Financial Statements (Exhibit 99.4) and includes consents from various independent registered public accounting firms, indicating necessary audit disclosures and regulatory compliance. While the excerpt doesn't detail operational performance or strategic initiatives, investors should note the inclusion of AB InBev's financials, suggesting a significant relationship or investment that impacts Altria's reporting. The consents from multiple auditing firms highlight the complexity of Altria's financial structure and its adherence to auditing standards across its various entities or investments.
Investors should interpret this amendment as a procedural update confirming the integration of specific financial data and the satisfaction of auditing requirements. For a comprehensive understanding of Altria's 2016 performance, profitability, and future outlook, a review of the full 10-K filing, including the incorporated AB InBev financial statements and the company's Management's Discussion and Analysis of Financial Condition and Results of Operations, is essential. This particular excerpt focuses on the administrative and compliance aspects of the filing rather than direct financial performance metrics.
02—Key points
Key Highlights
- The filing is an amendment to the 2016 10-K report for Altria Group, Inc. (MO), filed on June 14, 2017.
- Key financial statements from AB InBev are incorporated by reference via Exhibit 99.4.
- The amendment includes consents from multiple independent registered public accounting firms, such as Deloitte and PricewaterhouseCoopers.
- These consents are necessary for regulatory compliance and attest to audit procedures performed on financial statements.
- The filing indicates adherence to SEC disclosure requirements for consolidated entities or significant investments.
- This amendment appears to be primarily procedural, focusing on the inclusion of specific financial data and audit documentation.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in FY2016, Altria Group, Inc. kept $0.55.
- Revenue$25.74B100.0%
- Cost of revenue−$14.17B55.0%
- Gross profit$11.57B45.0%
- Operating costs−$2.81B10.9%
- Operating income$8.76B34.0%
- Interest, other & tax$5.48B21.3%
- Net income$14.24B55.3%
Where FY2016 revenue went
$25.74B- Other operating costs: $9.03B, 35% of revenue
- Operating income: $8.76B, 34% of revenue
- Cost of revenue: $7.75B, 30% of revenue
- R&D: $203.0M, 0.8% of revenue
Kept 34% as operating income
Full revenue history →04—Financials
Financial Highlights
Figures from 10-K/AFY2016filed June 15, 2017Financial Statements
FY2016 against FY2015
| Line item | FY2016FY2015 | Change |
|---|---|---|
| Revenue | $25.74B$25.43B | +1.2% |
| Cost of Revenue | $7.75B$7.74B | +0.1% |
| Gross Profit | $11.57B$11.11B | +4.1% |
| R&D Expenses | $203.00M$186.00M | +9.1% |
| Operating Income | $8.76B$8.36B | +4.8% |
| Interest Expense | $754.00M$808.00M | −6.7% |
| Net Income | $14.24B$5.24B | +171.7% |
| EPS (Basic) | $7.28$2.67 | +172.7% |
| EPS (Diluted) | $7.28— | — |
| Shares Outstanding (Basic) | 1.95B1.96B | −0.5% |
| Shares Outstanding (Diluted) | 1.95B— | — |
05—Questions
Frequently Asked Questions
What is the primary purpose of this 10-K Amendment?
The primary purpose of this 10-K Amendment is to incorporate by reference the AB InBev Financial Statements (Exhibit 99.4) and to file consents from independent registered public accounting firms. This suggests it's a procedural update to ensure the annual report is complete and compliant with regulatory requirements regarding disclosures and audits.
Why are AB InBev's financial statements included?
The inclusion of AB InBev's financial statements indicates a significant relationship between Altria and AB InBev, likely an investment or strategic partnership. These financials are deemed material for investors to understand Altria's overall financial position and performance, and they are being incorporated by reference into Altria's 10-K filing.
What is the significance of the accounting firm consents?
The consents from auditing firms like Deloitte and PricewaterhouseCoopers are standard filings that acknowledge their role as independent auditors. They confirm that these firms have complied with the SEC's regulations and standards regarding their audit work on the financial statements being filed, providing assurance to investors about the integrity of the financial reporting.
Does this amendment provide specific operational or financial performance details for Altria in 2016?
This particular excerpt from the 10-K amendment does not provide detailed operational or financial performance metrics for Altria Group. It focuses on exhibit filings and audit-related documentation. For detailed financial and operational insights, investors would need to review the full 10-K report, including the Management's Discussion and Analysis and the incorporated AB InBev financial statements.
06—Continue