Altria said operating cash flow for 2023 rose to $9.3 billion from $8.3 billion in 2022. The company cited lower income tax payments and lower payments related to the State Settlement Agreements as factors behind the increase.

10-KAnnual reportFiled Feb 27, 2024Period of report Dec 31, 2023Summary published (UTC) Oct 24, 2026

Key points

AI summary

Altria said operating cash flow for 2023 rose to $9.3 billion from $8.3 billion in 2022. The company cited lower income tax payments and lower payments related to the State Settlement Agreements as factors behind the increase.
The company said it paid approximately $2.75 billion in cash at closing of the NJOY Transaction on June 1, 2023, net of cash acquired, and that it may also pay up to $500 million in additional cash, contingent on FDA authorizations for certain NJOY products. It also received approximately $1.8 billion, including interest, in connection with IQOS in July 2023.
The company said it raised its quarterly dividend rate by 4.3% to $0.98 per share from $0.94 per share in Q3 2023, and that the current annualized dividend rate is $3.92 per share. Dividends paid in 2023 totaled approximately $6.8 billion, up 2.7% from approximately $6.6 billion in 2022.
The company said that as of December 31, 2023, it had cash and cash equivalents of $3.7 billion and $3.0 billion of unused availability under its Credit Agreement. Total long-term debt was $26.2 billion as of year-end 2023 and $26.7 billion as of year-end 2022, all of it fixed-rate debt.

Key figures

Fiscal year ended December 31, 2023

Revenue: $24.5B
Operating income: $11.5B
Net income: $8.1B
EPS: $4.57
Gross profit: $14.3B
Operating cash flow: $9.3B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Altria 2023 Operating Cash Flow $9.3 billion

Altria said operating cash flow for 2023 rose to $9.3 billion from $8.3 billion in 2022. The company cited lower income tax payments and lower payments related to the State Settlement Agreements as factors behind the increase.

Source · Based on the MD&A text of the filing

NJOY Acquisition Payments and IQOS Proceeds

The company said it paid approximately $2.75 billion in cash at closing of the NJOY Transaction on June 1, 2023, net of cash acquired, and that it may also pay up to $500 million in additional cash, contingent on FDA authorizations for certain NJOY products. It also received approximately $1.8 billion, including interest, in connection with IQOS in July 2023.

Source · Based on the MD&A text of the filing

Quarterly Dividend Increase and Dividends Paid

The company said it raised its quarterly dividend rate by 4.3% to $0.98 per share from $0.94 per share in Q3 2023, and that the current annualized dividend rate is $3.92 per share. Dividends paid in 2023 totaled approximately $6.8 billion, up 2.7% from approximately $6.6 billion in 2022.

Source · Based on the MD&A text of the filing

Cash and Long-Term Debt as of Year-End 2023

The company said that as of December 31, 2023, it had cash and cash equivalents of $3.7 billion and $3.0 billion of unused availability under its Credit Agreement. Total long-term debt was $26.2 billion as of year-end 2023 and $26.7 billion as of year-end 2022, all of it fixed-rate debt.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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