Item 6. Selected Financial Data.

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Item 6. Selected Financial Data.

(in millions of dollars, except per share and employee data)



	2014			2013			2012			2011			2010
Summary of Operations:
Net revenues	$	24,522		$	24,466		$	24,618		$	23,800		$	24,363
Cost of sales	7,785			7,206			7,937			7,680			7,704
Excise taxes on products	6,577			6,803			7,118			7,181			7,471
Operating income	7,620			8,084			7,253			6,068			6,228
Interest and other debt expense, net	808			1,049			1,126			1,216			1,133
Earnings from equity investment in SABMiller	1,006			991			1,224			730			628
Earnings before income taxes	7,774			6,942			6,477			5,582			5,723
Pre-tax profit margin	31.7		%	28.4		%	26.3		%	23.5		%	23.5		%
Provision for income taxes	2,704			2,407			2,294			2,189			1,816
Net earnings	5,070			4,535			4,183			3,393			3,907
Net earnings attributable to Altria Group, Inc.	5,070			4,535			4,180			3,390			3,905
Basic and Diluted EPS — net earnings attributable to Altria Group, Inc.	2.56			2.26			2.06			1.64			1.87
Dividends declared per share	2.00			1.84			1.70			1.58			1.46
Weighted average shares (millions) — Basic	1,978			1,999			2,024			2,064			2,077
Weighted average shares (millions) — Diluted	1,978			1,999			2,024			2,064			2,079
Capital expenditures	163			131			124			105			168
Depreciation	188			192			205			233			256
Property, plant and equipment, net	1,983			2,028			2,102			2,216			2,380
Inventories	2,040			1,879			1,746			1,779			1,803
Total assets	34,475			34,859			35,329			36,751			37,402
Long-term debt	13,693			13,992			12,419			13,089			12,194
Total debt	14,693			14,517			13,878			13,689			12,194
Total stockholders’ equity	3,010			4,118			3,170			3,683			5,195
Common dividends declared as a % of Basic and Diluted EPS	78.1		%	81.4		%	82.5		%	96.3		%	78.1		%
Book value per common share outstanding	1.53			2.07			1.58			1.80			2.49
Market price per common share — high/low	51.67-33.80			38.58-31.85			36.29-28.00			30.40-23.20			26.22-19.14
Closing price per common share at year end	49.27			38.39			31.44			29.65			24.62
Price/earnings ratio at year end — Basic and Diluted	19			17			15			18			13
Number of common shares outstanding at year end (millions)	1,971			1,993			2,010			2,044			2,089
Approximate number of employees	9,000			9,000			9,100			9,900			10,000

The Selected Financial Data should be read in conjunction with Item 7 and Item 8.

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