Item 6. Selected Financial Data.

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Item 6. Selected Financial Data.

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



	2015			2014			2013			2012			2011
Summary of Operations:
Net revenues	$	25,434		$	24,522		$	24,466		$	24,618		$	23,800
Cost of sales	7,740			7,785			7,206			7,937			7,680
Excise taxes on products	6,580			6,577			6,803			7,118			7,181
Operating income	8,361			7,620			8,084			7,253			6,068
Interest and other debt expense, net	817			808			1,049			1,126			1,216
Earnings from equity investment in SABMiller	757			1,006			991			1,224			730
Earnings before income taxes	8,078			7,774			6,942			6,477			5,582
Pre-tax profit margin	31.8		%	31.7		%	28.4		%	26.3		%	23.5		%
Provision for income taxes	2,835			2,704			2,407			2,294			2,189
Net earnings	5,243			5,070			4,535			4,183			3,393
Net earnings attributable to Altria Group, Inc.	5,241			5,070			4,535			4,180			3,390
Basic and Diluted EPS — net earnings attributable to Altria Group, Inc.	2.67			2.56			2.26			2.06			1.64
Dividends declared per share	2.17			2.00			1.84			1.70			1.58
Weighted average shares (millions) — Basic and Diluted	1,961			1,978			1,999			2,024			2,064
Capital expenditures	229			163			131			124			105
Depreciation	204			188			192			205			233
Property, plant and equipment, net	1,982			1,983			2,028			2,102			2,216
Inventories	2,031			2,040			1,879			1,746			1,779
Total assets	32,535			34,475			34,859			35,329			36,751
Long-term debt	12,915			13,693			13,992			12,419			13,089
Total debt	12,919			14,693			14,517			13,878			13,689
Total stockholders’ equity	2,873			3,010			4,118			3,170			3,683
Common dividends declared as a % of Basic and Diluted EPS	81.3		%	78.1		%	81.4		%	82.5		%	96.3		%
Book value per common share outstanding	1.47			1.53			2.07			1.58			1.80
Market price per common share — high/low	61.74-47.31			51.67-33.80			38.58-31.85			36.29-28.00			30.40-23.20
Closing price per common share at year end	58.21			49.27			38.39			31.44			29.65
Price/earnings ratio at year end — Basic and Diluted	22			19			17			15			18
Number of common shares outstanding at year end (millions)	1,960			1,971			1,993			2,010			2,044
Approximate number of employees	8,800			9,000			9,000			9,100			9,900

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

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