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FORM 10-Q

☒			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Virginia

13-3260245

(State or other jurisdiction of incorporation or organization)

(I.R.S. Employer Identification No.)

6601 West Broad Street,

Richmond,

Virginia

23230

(Address of principal executive offices)

(Zip Code)

Title of each class			Trading Symbols			Name of each exchange on which registered
Common Stock, $0.33 1/3 par value			MO			New York Stock Exchange
1.000% Notes due 2023			MO23A			New York Stock Exchange
1.700% Notes due 2025			MO25			New York Stock Exchange
2.200% Notes due 2027			MO27			New York Stock Exchange
3.125% Notes due 2031			MO31			New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.     Yes   þ     No   ¨

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).     Yes   þ    No  ¨

Large accelerated filer

þ

Accelerated filer

☐

Non-accelerated filer

☐

Smaller reporting company

☐

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

									Page No.
PART I -						FINANCIAL INFORMATION
Item 1.						Financial Statements (Unaudited)
						Condensed Consolidated Balance Sheets at September 30, 2021 and December 31, 2020			3
						Condensed Consolidated Statements of Earnings (Losses) for the Nine and Three Months Ended September 30, 2021 and 2020			5
						Condensed Consolidated Statements of Comprehensive Earnings (Losses) for the Nine and Three Months Ended September 30, 2021 and 2020			6
						Condensed Consolidated Statements of Stockholders’ (Deficit) Equity for the Nine Months Ended September 30, 2021 and 2020			7
						Three Months Ended September 30, 2021 and 2020			8
						Condensed Consolidated Statements of Cash Flows for the Nine Months Ended September 30, 2021 and 2020			9
						Notes to Condensed Consolidated Financial Statements			11
Item 2.						Management’s Discussion and Analysis of Financial Condition and Results of Operations			41
Item 3.						Quantitative and Qualitative Disclosures About Market Risk			76
Item 4.						Controls and Procedures			77
PART II -						OTHER INFORMATION
Item 1.						Legal Proceedings			77
Item 1A.						Risk Factors			77
Item 2.						Unregistered Sales of Equity Securities and Use of Proceeds			78
Item 6.						Exhibits			79
Signature						Signature			80

						September 30, 2021						December 31, 2020
Assets
Cash and cash equivalents						$	2,957					$	4,945
Receivables						36						137
Inventories:
Leaf tobacco						644						844
Other raw materials						159						200
Work in process						30						502
Finished product						300						420
						1,133						1,966
Assets held for sale						1,490						—
Other current assets						404						69
Total current assets						6,020						7,117
Property, plant and equipment, at cost						4,418						5,150
Less accumulated depreciation						2,900						3,138
						1,518						2,012
Goodwill						5,177						5,177
Other intangible assets, net						12,326						12,615
Investments in equity securities ($1,740 million and $1,868 million at September 30, 2021 and December 31, 2020, respectively, measured at fair value)						13,874						19,529
Other assets						649						964
Total Assets						$	39,564					$	47,414

						September 30, 2021						December 31, 2020
Liabilities
Current portion of long-term debt						$	1,105					$	1,500
Accounts payable						266						380
Accrued liabilities:
Marketing						680						523
Settlement charges						2,996						3,564
Other						1,109						1,494
Dividends payable						1,661						1,602
Liabilities held for sale						295						—
Total current liabilities						8,112						9,063
Long-term debt						27,022						27,971
Deferred income taxes						3,557						4,532
Accrued pension costs						280						551
Accrued postretirement health care costs						1,512						1,951
Other liabilities						307						381
Total liabilities						40,790						44,449
Contingencies (Note 12)
Redeemable noncontrolling interest						39						40
Stockholders’ (Deficit) Equity
Common stock, par value $0.33 1/3 per share (2,805,961,317 shares issued)						935						935
Additional paid-in capital						5,846						5,910
Earnings reinvested in the business						30,685						34,679
Accumulated other comprehensive losses						(3,430)						(4,341)
Cost of repurchased stock (967,321,022 shares at September 30, 2021 and 947,542,152 shares at December 31, 2020)						(35,303)						(34,344)
Total stockholders’ (deficit) equity attributable to Altria						(1,267)						2,839
Noncontrolling interests						2						86
Total stockholders’ (deficit) equity						(1,265)						2,925
Total Liabilities and Stockholders’ (Deficit) Equity						$	39,564					$	47,414

						For the Nine Months Ended September 30,												For the Three Months Ended September 30,
						2021						2020						2021						2020
Net revenues						$	19,758					$	19,849					$	6,786					$	7,123
Cost of sales						5,348						5,909						1,858						1,961
Excise taxes on products						3,733						4,063						1,255						1,445
Gross profit						10,677						9,877						3,673						3,717
Marketing, administration and research costs						1,850						1,585						722						557
Operating income						8,827						8,292						2,951						3,160
Interest and other debt expense, net						869						893						266						310
Loss on early extinguishment of debt						649						—						—						—
Net periodic benefit income, excluding service cost						(152)						(58)						(63)						(3)
(Income) losses from equity investments						5,789						306						5,915						472
Impairment of JUUL equity securities						—						2,600						—						2,600
(Gain) loss on Cronos-related financial instruments						128						202						135						105
Earnings (losses) before income taxes						1,544						4,349						(3,302)						(324)
Provision (benefit) for income taxes						693						1,817						(582)						632
Net earnings (losses)						851						2,532						(2,720)						(956)
Net (earnings) losses attributable to noncontrolling interests						—						11						(2)						4
Net earnings (losses) attributable to Altria						$	851					$	2,543					$	(2,722)					$	(952)
Per share data:
Basic earnings (losses) per share attributable to Altria						$	0.46					$	1.37					$	(1.48)					$	(0.51)
Diluted earnings (losses) per share attributable to Altria						$	0.46					$	1.36					$	(1.48)					$	(0.51)

						For the Nine Months Ended September 30,												For the Three Months Ended September 30,
						2021						2020						2021						2020
Net earnings (losses)						$	851					$	2,532					$	(2,720)					$	(956)
Other comprehensive earnings (losses), net of deferred income taxes:
Benefit plans						383						27						6						(15)
ABI						495						(928)						161						(15)
Currency translation adjustments and other						33						(16)						5						23
Other comprehensive earnings (losses), net of deferred income taxes						911						(917)						172						(7)
Comprehensive earnings (losses)						1,762						1,615						(2,548)						(963)
Comprehensive (earnings) losses attributable to noncontrolling interests						—						11						(2)						4
Comprehensive earnings (losses) attributable to Altria						$	1,762					$	1,626					$	(2,550)					$	(959)

						Attributable to Altria
						Common Stock						Additional Paid-in Capital						Earnings Reinvested in the Business						Accumulated Other Comprehensive Losses						Cost of Repurchased Stock						Non- controlling Interests						Total Stockholders’ (Deficit) Equity
Balances, December 31, 2020						$	935					$	5,910					$	34,679					$	(4,341)					$	(34,344)					$	86					$	2,925
Net earnings (losses) (1)						—						—						851						—						—						(4)						847
Other comprehensive earnings (losses), net of deferred income taxes						—						—						—						911						—						—						911
Stock award activity						—						13						—						—						13						—						26
Cash dividends declared ($2.62 per share)						—						—						(4,845)						—						—						—						(4,845)
Repurchases of common stock						—						—						—						—						(972)						—						(972)
Other (2)						—						(77)						—						—						—						(80)						(157)
Balances, September 30, 2021						$	935					$	5,846					$	30,685					$	(3,430)					$	(35,303)					$	2					$	(1,265)

						Attributable to Altria
						Common Stock						Additional Paid-in Capital						Earnings Reinvested in the Business						Accumulated Other Comprehensive Losses						Cost of Repurchased Stock						Non- controlling Interests						Total Stockholders’ (Deficit) Equity
Balances, December 31, 2019						$	935					$	5,970					$	36,539					$	(2,864)					$	(34,358)					$	97					$	6,319
Net earnings (losses) (1)						—						—						2,543						—						—						(13)						2,530
Other comprehensive earnings (losses), net of deferred income taxes						—						—						—						(917)						—						—						(917)
Stock award activity						—						3						—						—						14						—						17
Cash dividends declared ($2.54 per share)						—						—						(4,726)						—						—						—						(4,726)
Other						—						—						—						—						—						9						9
Balances, September 30, 2020						$	935					$	5,973					$	34,356					$	(3,781)					$	(34,344)					$	93					$	3,232

(1)Amounts attributable to noncontrolling interests for the nine months ended September 30, 2021 and 2020 exclude net earnings of $4 million and $2 million, respectively, due to the redeemable noncontrolling interest related to Stag’s Leap Wine Cellars, which is reported in the mezzanine equity section on the condensed consolidated balance sheets.

(2) Represents the purchase of the remaining noncontrolling interests in Helix. For additional information, see Note 1. Background and Basis of Presentation.

						Attributable to Altria
						Common Stock						Additional Paid-in Capital						Earnings Reinvested in the Business						Accumulated Other Comprehensive Losses						Cost of Repurchased Stock						Non- controlling Interests						Total Stockholders’ (Deficit) Equity
Balances, June 30, 2021						$	935					$	5,840					$	35,065					$	(3,602)					$	(34,981)					$	2					$	3,259
Net earnings (losses) (1)						—						—						(2,722)						—						—						—						(2,722)
Other comprehensive earnings (losses), net of deferred income taxes						—						—						—						172						—						—						172
Stock award activity						—						6						—						—						—						—						6
Cash dividends declared $0.90 per share)						—						—						(1,658)						—						—						—						(1,658)
Repurchases of common stock						—						—						—						—						(322)						—						(322)
Balances, September 30, 2021						$	935					$	5,846					$	30,685					$	(3,430)					$	(35,303)					$	2					$	(1,265)

						Attributable to Altria
						Common Stock						Additional Paid-in Capital						Earnings Reinvested in the Business						Accumulated Other Comprehensive Losses						Cost of Repurchased Stock						Non- controlling Interests						Total Stockholders’ (Deficit) Equity
Balances, June 30, 2020						$	935					$	5,964					$	36,908					$	(3,774)					$	(34,345)					$	98					$	5,786
Net earnings (losses) (1)						—						—						(952)						—						—						(5)						(957)
Other comprehensive earnings (losses), net of deferred income taxes						—						—						—						(7)						—						—						(7)
Stock award activity						—						9						—						—						1						—						10
Cash dividends declared ($0.86 per share)						—						—						(1,600)						—						—						—						(1,600)
Balances, September 30, 2020						$	935					$	5,973					$	34,356					$	(3,781)					$	(34,344)					$	93					$	3,232

(1) Amounts attributable to noncontrolling interests for the three months ended September 30, 2021 and 2020 exclude net earnings of $2 million and $1 million, respectively, due to the redeemable noncontrolling interest related to Stag’s Leap Wine Cellars, which is reported in the mezzanine equity section on the condensed consolidated balance sheets.

For the Nine Months Ended September 30,						2021						2020
Cash Provided by (Used in) Operating Activities
Net earnings (losses)						$	851					$	2,532
Adjustments to reconcile net earnings (losses) to operating cash flows:
Depreciation and amortization						190						192
Deferred income tax provision (benefit)						(1,180)						(111)
(Income) losses from equity investments						5,789						306
Dividends from ABI						119						108
(Gain) loss on Cronos-related financial instruments						128						202
Impairment of JUUL equity securities						—						2,600
Loss on early extinguishment of debt						649						—
Cash effects of changes:
Receivables						(7)						1
Inventories						118						136
Accounts payable						3						24
Income taxes						(200)						—
Accrued liabilities and other current assets						(104)						(504)
Accrued settlement charges						(568)						(140)
Pension plan contributions						(23)						(16)
Pension provisions and postretirement, net						(127)						(35)
Other, net (1)						104						549
Net cash provided by (used in) operating activities						5,742						5,844
Cash Provided by (Used in) Investing Activities
Capital expenditures						(102)						(162)
Other, net						60						55
Net cash provided by (used in) investing activities						$	(42)					$	(107)

(1) 2020 primarily reflects inventory-related amounts associated with the wine business strategic reset. For further discussion, see Note 9. Segment Reporting.

For the Nine Months Ended September 30,						2021						2020
Cash Provided by (Used in) Financing Activities
Proceeds from short-term borrowings						$	—					$	3,000
Repayment of short-term borrowings						—						(3,000)
Long-term debt issued						5,472						1,993
Long-term debt repaid						(6,542)						(1,000)
Repurchases of common stock						(972)						—
Dividends paid on common stock						(4,787)						(4,690)
Premiums and fees related to early extinguishment of debt						(623)						—
Other, net						(216)						(16)
Net cash provided by (used in) financing activities						(7,668)						(3,713)
Cash, cash equivalents and restricted cash:
Increase (decrease)						(1,968)						2,024
Balance at beginning of period						5,006						2,160
Balance at end of period						$	3,038					$	4,184
The following table provides a reconciliation of cash, cash equivalents and restricted cash to the amounts reported on Altria’s condensed consolidated balance sheets:
						At September 30, 2021						At December 31, 2020
Cash and cash equivalents						$	2,957					$	4,945
Restricted cash included in other current assets (1)						—						1
Restricted cash included in other assets (1)						45						60
Cash included in assets held for sale (2)						36						—
Cash, cash equivalents and restricted cash						$	3,038					$	5,006

(1)Restricted cash consisted of cash deposits collateralizing appeal bonds posted by PM USA to obtain stays of judgments pending appeals. See Note 12. Contingencies.

(2) Cash included in assets held for sale at September 30, 2021 is related to the Ste. Michelle Transaction. For further discussion, see Note 3. Assets Held for Sale.

When used in these notes, the term “Altria,” refers to Altria Group, Inc. and its subsidiaries, unless the context requires otherwise.

▪Background: At September 30, 2021, Altria’s wholly owned subsidiaries included Philip Morris USA Inc. (“PM USA”), which is engaged in the manufacture and sale of cigarettes in the United States; John Middleton Co. (“Middleton”), which is engaged in the manufacture and sale of machine-made large cigars and pipe tobacco and is a wholly owned subsidiary of PM USA; UST LLC (“UST”), which through its wholly owned subsidiaries, including U.S. Smokeless Tobacco Company LLC (“USSTC”) and Ste. Michelle Wine Estates Ltd. (“Ste. Michelle”), is engaged in the manufacture and sale of moist smokeless tobacco products (“MST”), snus products and wine; Helix Innovations LLC (“Helix”), which operates in the United States and Canada, and Helix Innovations GmbH and its subsidiaries (“Helix ROW”), which operate internationally in the rest-of-world, are engaged in the manufacture and sale of on! oral nicotine pouches; and Philip Morris Capital Corporation (“PMCC”), which maintains a portfolio of finance assets, substantially all of which are leveraged leases.

On July 8, 2021, UST entered into a share purchase agreement pursuant to which it agreed to sell its subsidiary, International Wine & Spirits Ltd. (“IWS”), which includes Ste. Michelle. The sale was completed on October 1, 2021. At September 30, 2021, the assets and liabilities associated with the pending sale of IWS were classified as assets held for sale on Altria’s condensed consolidated balance sheet. For further discussion, see Note 3. Assets Held for Sale.

Altria owns 100% of the global on! business as a result of transactions in December 2020 and April 2021 to purchase the remaining 20% interest in (i) Helix ROW and (ii) Helix, respectively. The total purchase price of the December 2020 and April 2021 transactions was approximately $250 million.

For further discussion of Altria’s investments in equity securities, see Note 4. Investments in Equity Securities.

▪Dividends and Share Repurchases: In August 2021, Altria’s Board of Directors (the “Board of Directors” or “Board”) approved a 4.7% increase in the quarterly dividend rate to $0.90 per share of Altria common stock versus the previous rate of $0.86 per share. The current annualized dividend rate is $3.60. Future dividend payments remain subject to the discretion of the Board.

(in millions, except per share data)			For the Nine Months Ended September 30, 2021						For the Three Months Ended September 30, 2021
Total number of shares repurchased			20.2						6.7
Aggregate cost of shares repurchased			$	972					$	322
Average price per share of shares repurchased			$	48.17					$	48.35

▪Basis of Presentation: The interim condensed consolidated financial statements of Altria are unaudited. It is the opinion of Altria’s management that all adjustments necessary for a fair statement of the interim results presented have been reflected in the interim condensed consolidated financial statements. All such adjustments were of a normal recurring nature. Net revenues and net earnings for any interim period are not necessarily indicative of results that may be expected for the entire year.

On January 1, 2021, Altria adopted Accounting Standards Update (“ASU”) 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU No. 2019-12”). This guidance removes certain exceptions for investments, intraperiod allocations and interim calculations, and adds guidance to reduce complexity in accounting for income taxes. The adoption of ASU No. 2019-12 did not have a material impact on Altria’s condensed consolidated financial statements.

Additionally, on January 1, 2021, Altria adopted ASU No. 2020-01, Investments - Equity Securities (Topic 321), Investments - Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815): Clarifying the Interactions between Topic 321, Topic 323, and Topic 815 (“ASU No. 2020-01”). This guidance provides clarification of the interaction of rules for equity securities, the equity method of accounting, and forward contracts and purchase options on certain types of securities. The adoption of ASU No. 2020-01 did not have a material impact on Altria’s condensed consolidated financial statements.

For a description of issued accounting guidance applicable to, but not yet adopted by, Altria, see Note 13. New Accounting Guidance Not Yet Adopted.

Altria disaggregates net revenues based on product type. For further discussion, see Note 9. Segment Reporting.

Price promotion payments- Altria’s businesses make price promotion payments, substantially all of which are made to their retail partners, to incent the promotion of certain product offerings in select geographic areas.

Wholesale and retail participation payments- Altria’s businesses make payments to their wholesale and retail partners to incent merchandising and sharing of sales data in accordance with each business’s trade agreements.

(in millions)						September 30, 2021
Assets held for sale
Cash and cash equivalents						$	36
Receivables						108
Inventories						715
Property, plant and equipment, net of accumulated depreciation						407
Other intangible assets, net						236
Other assets						29
Total assets						1,531
Reserve						(41)
Total assets held for sale						1,490
Liabilities held for sale
Accounts payable						114
Accrued liabilities						83
Accrued pension costs						49
Other liabilities						49
Total liabilities held for sale						295
Assets and liabilities held for sale, net						$	1,195

(in millions)						September 30, 2021						December 31, 2020
ABI						$	11,237					$	16,651
JUUL						1,705						1,705
Cronos (1)						932						1,173
Total						$	13,874					$	19,529

(1) Atria’s investment in Cronos at September 30, 2021 consisted of Altria’s equity method investment in Cronos ($897 million), the Cronos warrant ($32 million) and the Fixed-price Preemptive Rights ($3 million), (collectively, “Investment in Cronos”). The Investment in Cronos at December 31, 2020 consisted of Altria’s equity method investment in Cronos ($1,010 million), the Cronos warrant ($139 million) and the Fixed-price Preemptive Rights ($24 million). See below for further discussion.

			For the Nine Months Ended September 30,												For the Three Months Ended September 30,
(in millions)			2021						2020						2021						2020
ABI (1)			$	(5,644)					$	(306)					$	(6,036)					$	(418)
Cronos			(145)						—						21						(54)
Income (losses) from investments under equity method of accounting			(5,789)						(306)						$	(6,015)					$	(472)
JUUL			—						—						100						—
Income (losses) from equity investments			$	(5,789)					$	(306)					$	(5,915)					$	(472)

(1) For the nine and three months ended September 30, 2021, Altria recorded a non-cash, pre-tax impairment charge of $6,157 million related to its equity investment in ABI. See below for further discussion.

▪are unlisted and not admitted to trading on any stock exchange;

▪are convertible by Altria into ordinary shares of ABI on a one-for-one basis;

▪rank equally with ordinary shares of ABI with regards to dividends and voting rights; and

▪have director nomination rights with respect to ABI.

On April 1, 2020, the U.S. Federal Trade Commission (“FTC”) issued an administrative complaint challenging Altria’s investment in JUUL. For further discussion, see Note 12. Contingencies - Antitrust Litigation.

						Investment
(in millions)						Balance
Balance at December 31, 2020						$	1,705
Unrealized gains (losses) included in income (losses) from equity investments						—
Balance at September 30, 2021						$	1,705

▪anti-dilution protections to purchase Cronos common shares, exercisable each quarter upon dilution, to maintain its ownership percentage. Certain of the anti-dilution protections provide Altria the ability to purchase additional Cronos common shares at a per share exercise price of Canadian dollar (“CAD”) $16.25 upon the occurrence of specified events (“Fixed-price Preemptive Rights”). Based on Altria’s assumptions as of September 30, 2021, Altria estimates the Fixed-price Preemptive Rights allows Altria to purchase up to an additional approximately 14 million common shares of Cronos; and

▪a warrant providing Altria the ability to purchase an additional approximate 10% of common shares of Cronos (approximately 83 million common shares at September 30, 2021) at a per share exercise price of CAD $19.00, which expires on March 8, 2023.

For a discussion of derivatives related to the Investment in Cronos, including Altria’s accounting for changes in the fair value of these derivatives, see Note 5. Financial Instruments.

(in millions)			September 30, 2021						December 31, 2020
Foreign currency contracts (notional amounts)			$	—					$	1,066
Foreign currency denominated debt
Carrying value			4,905						5,171
Fair value			5,288						5,687

(in millions)			September 30, 2021						December 31, 2020
Carrying value			$	28,127					$	29,471
Fair value			31,037						34,682

The Fixed-price Preemptive Rights and Cronos warrant, which are further discussed in Note 4. Investments in Equity Securities, are derivative financial instruments, which are required to be recorded at fair value. The fair values of the Fixed-price Preemptive Rights and Cronos warrant are estimated using Black-Scholes option-pricing models, adjusted for observable inputs (which are classified in Level 1 of the fair value hierarchy), including share price, and unobservable inputs, including

Fixed-price Preemptive Rights

Cronos Warrant

September 30, 2021

December 31, 2020

September 30, 2021

December 31, 2020

Share price (1)

C$7.15

C$8.84

C$7.15

C$8.84

Expected life (2)

0.81 year

1.05 years

1.43 years

2.18 years

Expected volatility (3)

67.32%

80.68%

67.32%

80.68%

Risk-free interest rate (4)(5)

0.24%

0.13%

0.39%

0.21%

Expected dividend yield (6)

—%

—%

—%

—%

(1) Based on the closing market price for Cronos common stock on the Toronto Stock Exchange on the date indicated.

(2) Based on the weighted-average expected life of the Fixed-price Preemptive Rights (with a range from approximately 0.25 year to 4.00 years at September 30, 2021 and 0.25 year to 5 years at December 31, 2020) and the March 8, 2023 expiration date of the Cronos warrant.

(3) Based on a blend of historical volatility of the underlying equity security and implied volatility from traded options on the underlying equity security at September 30, 2021. Based on a blend of historical volatility levels of the underlying equity security and peer companies at December 31, 2020.

(4) Based on the implied yield currently available on Canadian Treasury zero coupon issues (with a range from approximately 0.12% to 0.89% at September 30, 2021 and 0.06% to 0.39% at December 31, 2020) weighted for the remaining expected life of the Fixed-price Preemptive Rights.

(5) Based on the implied yield currently available on Canadian Treasury zero coupon issues and the expected life of the Cronos warrant.

(6) Based on Cronos’s expected dividend payments.

(in millions)
Balance at December 31, 2019			$	303
Pre-tax earnings (losses) recognized in net earnings (losses)			(140)
Balance at December 31, 2020			163
Pre-tax earnings (losses) recognized in net earnings (losses)			(128)
Balance at September 30, 2021			$	35

			Fair Value of Assets																		Fair Value of Liabilities
(in millions)			Balance Sheet Classification						September 30, 2021						December 31, 2020						Balance Sheet Classification			September 30, 2021						December 31, 2020
Derivatives designated as hedging instruments:
Foreign currency contracts			Other current assets						$	—					$	—					Other accrued liabilities			$	—					$	87
Foreign currency contracts			Other assets						—						—						Other liabilities			—						—
Total									$	—					$	—								$	—					$	87
Derivatives not designated as hedging instruments:
Cronos warrant			Investments in equity securities						$	32					$	139
Fixed-price Preemptive Rights			Investments in equity securities						3						24
Total									$	35					$	163
Total derivatives									$	35					$	163								$	—					$	87

			For the Nine Months Ended September 30,												For the Three Months Ended September 30,
(in millions)			2021						2020						2021						2020
Fixed-price Preemptive Rights			$	(21)					$	(54)					$	(17)					$	(25)
Cronos warrant			(107)						(148)						(118)						(80)
Total			$	(128)					$	(202)					$	(135)					$	(105)

						Gain (Loss) Recognized in Accumulated Other Comprehensive Losses												Gain (Loss) Recognized in Net Earnings (Losses)												Gain (Loss) Recognized in Accumulated Other Comprehensive Losses												Gain (Loss) Recognized in Net Earnings (Losses)
						For the Nine Months Ended September 30,																								For the Three Months Ended September 30,
(in millions)						2021						2020						2021						2020						2021						2020						2021						2020
Foreign currency contracts						$	16					$	(28)					$	7					$	33					$	—					$	(66)					$	—					$	8
Foreign currency denominated debt						270						(215)						—						—						118						(206)						—						—
Total						$	286					$	(243)					$	7					$	33					$	118					$	(272)					$	—					$	8

			Pension												Postretirement												Pension												Postretirement
			For the Nine Months Ended September 30,																								For the Three Months Ended September 30,
(in millions)			2021						2020						2021						2020						2021						2020						2021						2020
Service cost			$	51					$	55					$	15					$	13					$	17					$	18					$	5					$	5
Interest cost			139						188						29						44						46						62						8						14
Expected return on plan assets			(393)						(376)						(10)						(11)						(131)						(125)						(2)						(4)
Amortization:
Net loss			99						108						16						7						33						55						2						—
Prior service cost (credit)			3						4						(35)						(22)						1						2						(20)						(7)
Net periodic benefit (income) cost			$	(101)					$	(21)					$	15					$	31					$	(34)					$	12					$	(7)					$	8