The company said reported OCI for the oral tobacco products segment decreased $327 million (38.1%) over 6 months, citing a non-cash impairment of the Skoal trademark of $354 million as the main factor. Adjusted OCI increased $27 million (3.1%) over the same period.

1. 01

   The company said reported OCI for the oral tobacco products segment decreased $327 million (38.1%) over 6 months, citing a non-cash impairment of the Skoal trademark of $354 million as the main factor. Adjusted OCI increased $27 million (3.1%) over the same period.

2. 02

   The company said domestic shipment volume for its oral tobacco products segment decreased 2.5% over the 6 months ended June 30, 2024, and that the segment's retail share was 37.9%. Over the same period, on!'s share of the nicotine pouch category was 18.5%, a decrease of 5.4 share points versus the prior year.

3. 03

   The company said it received pre-tax cash proceeds of approximately $2.4 billion from the ABI Transaction in March 2024 and paid approximately $62 million in transaction costs, and that it used the proceeds to fund the ASR transactions. The company increased its share repurchase program from $1.0 billion to $3.4 billion.

4. 04

   The company said net cash from operating activities in the first half of 2024 was $2,802 million, down from $3,108 million a year earlier. Net cash provided by investing activities was $2,279 million, and net cash used in financing activities was $6,966 million.

Key figures

Quarter ended June 30, 2024

Revenue

$6.2B

Operating income

$2.5B

Net income

$3.8B

EPS

$2.21

Gross profit

$3.7B

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.

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

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.