ALTRIA GROUP INC
For the period ended Jun 30, 2024. Filed Jul 31, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Jul 31, 2024
What changed in Risk Factors?
Read the current filingPrevious report: 10-Q
Period ended 2024-03-31; filed 2024-04-25.
0000764180-24-000057
Item 1A. Risk FactorsUnregistered Sales of Equity Securities and Use of ProceedsCurrent report: 10-Q
Period ended 2024-06-30; filed 2024-07-31.
0000764180-24-000093
Item 1A. Risk FactorsUnregistered Sales of Equity Securities and Use of ProceedsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 5 previous paragraphs and 6 current paragraphs.
3 unchanged; 0 reworded; 3 added; 2 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 1 previous and 1 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
The current filing states there were no material changes to risk factors.
This is the filer’s own statement, not a conclusion from the comparison. Read its qualifications and the report it references.
Current filing’s statement
Information regarding Risk Factors appears in Part I, Item 1A. Risk Factors of our 2023 Form 10-K. There have been no material changes to the risk factors previously disclosed in our 2023 Form 10-K.
Added paragraphs (3)
Current report
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Current report
(1) During the first quarter of 2024, we entered into two separate accelerated share repurchase agreements with bank counterparties (collectively, “ASR Agreements”) to repurchase an aggregate $2.4 billion of common stock. In the first quarter, we paid the $2.4 billion aggregate repurchase price and received approximately 46.5 million shares of our common stock (85% of the $2.4 billion aggregate repurchase price calculated on the basis of a price of $43.87 per share, the closing price of our common stock on March 15, 2024, the date we entered into the ASR Agreements). In the second quarter of 2024, we received approximately 7.4 million additional shares of our common stock upon the final settlement of the ASR Agreements. The average repurchase price of the shares repurchased under the ASR Agreements was $44.50 per share. In addition, in June 2024 we repurchased approximately 0.2 million shares under our January 2024 share repurchase program at an aggregate cost of approximately $10 million (average price per share of $45.53). For further discussion of our share repurchase program, see Note 1.
Removed paragraphs (2)
Previous report
(1)Consists of shares withheld by Altria in an amount equal to the statutory withholding taxes for vested stock-based awards previously granted to eligible employees.
Previous report
(2) Consists of shares initially repurchased by Altria under two separate agreements with bank counterparties (collectively, “ASR Agreements”) at a price equal to the closing price of our common stock on the date we entered into the ASR Agreements. The total number of shares to be repurchased and the final per share purchase price for shares purchased under each ASR Agreement will be determined at the end of the applicable purchase period, which is scheduled to occur by June 30, 2024, but may occur earlier in certain circumstances. As a result, $360 million (15% of the aggregate repurchase price of $2.4 billion) was paid and recorded in additional paid-in capital (“APIC”) in our condensed consolidated statement of stockholders’ equity (deficit) and will remain in APIC until final settlement. For further discussion of our share repurchase program, see Note 1.