01—Abstract
Summary
Summary of the 10-K/A filed May 29, 2019. Cited figures are marked; the original filing is the authoritative source.
Altria Group, Inc. (MO) filed an amendment to its 2018 10-K on May 28, 2019, primarily concerning the incorporation by reference of AB InBev Financial Statements.
While this filing doesn't present new financial data for Altria itself, it signals significant ongoing involvement and financial connections with Anheuser-Busch InBev. Investors should note that this amendment focuses on exhibit disclosures and does not alter the core financial performance or strategic outlook presented in the original 10-K. The AB InBev financial information incorporated by reference is crucial for understanding the consolidated financial position and performance where Altria's investment in AB InBev is a material component.
02—Key points
Key Highlights
- The filing is an amendment to the 2018 10-K, not a new financial report, and does not present updated financial statements for Altria.
- Key information is incorporated by reference from AB InBev's financial statements (Exhibit 99.4), underscoring the material investment Altria holds in the beverage giant.
- The amendment includes updated consents from independent auditors (Deloitte Bedrijfsrevisoren / Reviseurs d’Entreprises CVBA/ SCRL), confirming audit procedures related to the incorporated financial data.
- This filing highlights the interconnectedness of Altria's financial reporting with its significant equity investments.
- Investors should refer to the original 2018 10-K and the referenced AB InBev filings for a comprehensive understanding of Altria's financial performance and position.
03—One dollar
Follow one dollar
Of each $1.00 of revenue in FY2018, Altria Group, Inc. kept $0.27.
- Revenue$25.36B100.0%
- Cost of revenue−$13.11B51.7%
- Gross profit$12.25B48.3%
- Operating costs−$3.14B12.4%
- Operating income$9.12B35.9%
- Interest, other & tax−$2.15B8.5%
- Net income$6.96B27.5%
Where FY2018 revenue went
$25.36B- Other operating costs: $8.62B, 34% of revenue
- Cost of revenue: $7.37B, 29% of revenue
- Net income: $6.96B, 27% of revenue
- R&D: $252.0M, 1.0% of revenue
- Interest, other & tax: $2.15B, 8.5% of revenue
Kept 27% as net incomeR&D $252.0M · 1.0%
Full revenue history →04—Financials
Financial Highlights
Figures from 10-K/AFY2018filed May 29, 2019Financial Statements
FY2018 against FY2017
| Line item | FY2018FY2017 | Change |
|---|---|---|
| Revenue | $25.36B$25.58B | −0.8% |
| Cost of Revenue | $7.37B$7.54B | −2.3% |
| Gross Profit | $12.25B$11.96B | +2.4% |
| R&D Expenses | $252.00M$241.00M | +4.6% |
| Operating Income | $9.12B$9.59B | −5.0% |
| Interest Expense | $697.00M$736.00M | −5.3% |
| Net Income | $6.96B$10.22B | −31.9% |
| EPS (Basic) | $3.69$5.31 | −30.5% |
| EPS (Diluted) | $3.68$5.31 | −30.7% |
| Shares Outstanding (Basic) | 1.89B1.92B | −1.8% |
| Shares Outstanding (Diluted) | 1.89B1.92B | −1.7% |
05—Questions
Frequently Asked Questions
What is the primary purpose of this 10-K Amendment?
The primary purpose of this amendment is to incorporate by reference the financial statements of Anheuser-Busch InBev (AB InBev) into Altria's filing. This is typically done when an investment in another company is material and its financial statements are required for a complete understanding of the reporting entity's financial position and performance.
Does this amendment provide new financial results for Altria Group?
No, this amendment does not provide new or updated financial results for Altria Group itself. It focuses on incorporating external financial statements and related disclosures, rather than presenting Altria's operational performance for the period.
What is the significance of incorporating AB InBev's financial statements?
Incorporating AB InBev's financial statements is significant because Altria holds a material investment in AB InBev. This allows investors to see the financial health and performance of that significant investment as part of Altria's overall financial picture, as required by accounting standards.
Where can I find the actual financial performance data for Altria for the 2018 fiscal year?
You should refer to the original 10-K filing for Altria Group, Inc. for the fiscal year ended December 30, 2018. This amendment supplements that filing with specific exhibit information but does not replace the core financial statements and management discussion and analysis presented in the original report.
06—Continue