Altria Financial Data Disclosure
29 January 2009
Today, Altria Group, Inc. (Altria) released its results for the fiscal year and the fiscal quarter ended 31 December 2008. This year, Altria's results include a reference to earnings for the quarters and twelve month periods ended 31 December 2008 and 2007 attributable to Altria's economic and voting 28.5% investment in SABMiller plc, expressed in US GAAP at prevailing exchange rates.
The amount disclosed for the year ended 31 December 2008 is US$467 million (year ended 31 December 2007: US$510 million). The amount disclosed for the quarter ended 31 December 2008 is US$123 million (quarter ended 31 December 2007: US$118 million). No further analysis of earnings has been disclosed. Investors should note that these financial results are derived from management accounts, have not been audited and may be subject to change. There are a number of differences concerning the timing of recognition of results as well as differences relating to the treatment of exceptional items, the accounting for the formation of the MillerCoors joint venture, the impairment of intangible assets not separately recognised in SABMiller's IFRS accounts and the definition of the US GAAP statutory earnings as reported by Altria compared to SABMiller's results as reported under IFRS. Due to these differences, the US GAAP results used to calculate Altria's share of reported earnings for SABMiller were significantly below SABMiller's IFRS results in the year ended 31 December 2008.