Altria completed its acquisition of NJOY Holdings, Inc. for approximately $2.9 billion, which consisted of approximately $2.75 billion in cash payments plus the fair value of certain contingent consideration, expanding its presence in the e-vapor market.

Altria entered into a stock transfer agreement with JUUL, transferring all of its beneficially owned JUUL equity securities in exchange for a non-exclusive, irrevocable global license to certain of JUUL's heated tobacco intellectual property.

In October 2022, Altria agreed to assign to Philip Morris International Inc. exclusive U.S. commercialization rights to the IQOS System effective April 30, 2024.

Altria established 2028 Enterprise Goals to provide investors with specific metrics to measure progress, including a mid-single digit adjusted diluted EPS compounded annual growth rate, a progressive dividend goal, and a target debt-to-Consolidated EBITDA ratio of approximately 2.0x.

Altria's vision is to responsibly lead the transition of adult smokers to a smoke-free future, with a focus on moving adult smokers away from cigarettes to potentially less harmful choices.

Altria emphasizes ongoing training and leadership development opportunities for employees, as well as a commitment to pay equity across companies and maintaining an inclusive organization.

Altria faces competition from lower-priced brands, illicit trade in tobacco products, and the increasing usage of illegal flavored disposable e-vapor products, which could have a material adverse effect on the business.

Altria may be unsuccessful in commercializing innovative products, including tobacco products with reduced health risks, which could have a material adverse effect on the business.

Altria is subject to significant governmental and private sector actions, including FDA regulatory actions and inaction, which may have a material adverse impact on the business.

Marlboro, the principal cigarette brand of PM USA, has been the largest-selling cigarette brand in the United States for over 45 years.

The market shares of Altria's operating companies' products have been negatively impacted by increases in competitive discount product share for cigarettes and MST products.

NJOY ACE is the principal e-vapor product of NJOY and is currently the only e-vapor manufacturer to receive market authorizations from the U.S. Food and Drug Administration for a pod-based e-vapor product.

Altria is working to mitigate the potential negative impacts of macroeconomic and geopolitical dynamics on its businesses through proactive engagement with suppliers and distributors, development of alternative sourcing strategies, and entry into long-term supply contracts.

Altria's operating companies rely on a few significant manufacturing facilities and a small number of key suppliers, distributors, and distribution chain service providers, which could have a material adverse effect on the business if disrupted.

Altria supports efforts to address human capital concerns in the tobacco supply chain, including participation in the Good Agricultural Practices Certification Program and the Sustainable Tobacco Program.

Altria has growth strategies involving innovative products that may have reduced health risks relative to certain other tobacco products, including products in the e-vapor, heated tobacco and oral nicotine pouch spaces.

Altria provides various support services to its companies in areas such as research and product development.

Trademarks are of material importance to Altria and are protected by registration or otherwise. The portfolio of United States patents owned by Altria's businesses is also material.

Altria's Board of Directors authorized a $1.0 billion share repurchase program in January 2023, which was completed in December 2023, and authorized a new $1.0 billion share repurchase program in January 2024.

Altria established a new progressive dividend goal targeting mid-single digits dividend per share growth annually through 2028.

Altria is targeting a debt-to-Consolidated EBITDA ratio of approximately 2.0x.

Altria recognizes the critical importance of inclusion, diversity and equity in pursuing its Vision and believes in the value of a workforce composed of a broad spectrum of backgrounds and cultures.

Altria's goal is for every employee to experience an injury-free career, which is supported by its Safety Management System.

Altria supports efforts to address human capital concerns in the tobacco supply chain, including participation in the Good Agricultural Practices Certification Program and the Sustainable Tobacco Program.

Current macroeconomic conditions and geopolitical instability are causing worldwide disruptions and delays to supply chains and commercial markets, which limit access to, and increase the cost of, raw materials, ingredients and component parts.

Tobacco products are subject to substantial taxation, and any increases in tobacco product-related taxes could have a material adverse impact on sales of Altria's operating companies' products.

Tobacco companies are subject to broad and evolving regulatory and legislative frameworks that could have a material impact on their business.