Rendering

Component: (Network and Table)
Network
2317301 - Disclosure - Benefit Plans (Tables)
(http://www.altria.com/role/BenefitPlansTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Compensation and Retirement Disclosure [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Compensation and Retirement Disclosure [Abstract]
 
Projected Benefit Obligations, Plan Assets and Funded Status of Pension Plans
The benefit obligations, plan assets and funded status of Altria Group, Inc.’s pension and postretirement plans at December 31, 2016 and 2015 were as follows:
 
              Pension
 
             Postretirement
(in millions)
2016

 
2015

 
2016

 
2015

Change in benefit obligation:
 
 
 
 
 
 
 
    Benefit obligation at beginning of year
$
8,011

 
$
8,330

 
$
2,392

 
$
2,613

   Service cost
76

 
86

 
17

 
18

   Interest cost
281

 
337

 
77

 
100

   Benefits paid
(440
)
 
(431
)
 
(135
)
 
(141
)
   Actuarial losses (gains)
367

 
(317
)
 
24

 
(192
)
       Termination and curtailment
13

 

 
5

 

       Other
4

 
6

 
(16
)
 
(6
)
    Benefit obligation at end of year
8,312

 
8,011

 
2,364

 
2,392

Change in plan assets:
 
 
 
 
 
 
 
    Fair value of plan assets at beginning of year
6,706

 
7,297

 

 

   Actual return on plan assets
678

 
(188
)
 

 

   Employer contributions
531

 
28

 

 

   Benefits paid
(440
)
 
(431
)
 

 

    Fair value of plan assets at end of year
7,475

 
6,706

 

 

    Funded status at December 31
$
(837
)
 
$
(1,305
)
 
$
(2,364
)
 
$
(2,392
)
Amounts recognized on Altria Group, Inc.’s consolidated balance sheets were as follows:
 
 
 
 
 
 
 
    Other accrued liabilities
$
(32
)
 
$
(28
)
 
$
(147
)
 
$
(147
)
    Accrued pension costs
(805
)
 
(1,277
)
 

 

    Accrued postretirement health care costs

 

 
(2,217
)
 
(2,245
)
 
$
(837
)
 
$
(1,305
)
 
$
(2,364
)
 
$
(2,392
)
 
 
Net Pension Liability Recognized in Consolidated Balance Sheets
The benefit obligations, plan assets and funded status of Altria Group, Inc.’s pension and postretirement plans at December 31, 2016 and 2015 were as follows:
 
              Pension
 
             Postretirement
(in millions)
2016

 
2015

 
2016

 
2015

Change in benefit obligation:
 
 
 
 
 
 
 
    Benefit obligation at beginning of year
$
8,011

 
$
8,330

 
$
2,392

 
$
2,613

   Service cost
76

 
86

 
17

 
18

   Interest cost
281

 
337

 
77

 
100

   Benefits paid
(440
)
 
(431
)
 
(135
)
 
(141
)
   Actuarial losses (gains)
367

 
(317
)
 
24

 
(192
)
       Termination and curtailment
13

 

 
5

 

       Other
4

 
6

 
(16
)
 
(6
)
    Benefit obligation at end of year
8,312

 
8,011

 
2,364

 
2,392

Change in plan assets:
 
 
 
 
 
 
 
    Fair value of plan assets at beginning of year
6,706

 
7,297

 

 

   Actual return on plan assets
678

 
(188
)
 

 

   Employer contributions
531

 
28

 

 

   Benefits paid
(440
)
 
(431
)
 

 

    Fair value of plan assets at end of year
7,475

 
6,706

 

 

    Funded status at December 31
$
(837
)
 
$
(1,305
)
 
$
(2,364
)
 
$
(2,392
)
Amounts recognized on Altria Group, Inc.’s consolidated balance sheets were as follows:
 
 
 
 
 
 
 
    Other accrued liabilities
$
(32
)
 
$
(28
)
 
$
(147
)
 
$
(147
)
    Accrued pension costs
(805
)
 
(1,277
)
 

 

    Accrued postretirement health care costs

 

 
(2,217
)
 
(2,245
)
 
$
(837
)
 
$
(1,305
)
 
$
(2,364
)
 
$
(2,392
)

 
 
Assumptions used to Determine Benefit Obligations
The following assumptions were used to determine Altria Group, Inc.’s pension benefit obligations at December 31:
 
2016

 
2015

Discount rate
4.1
%
 
4.4
%
Rate of compensation increase
4.0

 
4.0


The following assumptions were used to determine Altria Group, Inc.’s postretirement benefit obligations at December 31:
 
2016

 
2015

Discount rate
4.1
%
 
4.4
%
Health care cost trend rate assumed for next year
7.0


6.5

    Ultimate trend rate
5.0


5.0

 Year that the rate reaches the ultimate trend rate
2022


2019

 
 
Schedule of Net Benefit Costs
Net periodic benefit cost consisted of the following for the years ended December 31, 2016, 2015 and 2014:
 
             Pension
 
               Postretirement
(in millions)
2016

 
2015

 
2014

 
2016

 
2015

 
2014

Service cost
$
76

 
$
86

 
$
68

 
$
17

 
$
18

 
$
15

Interest cost
281

 
337

 
345

 
77

 
100

 
107

Expected return on plan assets
(553
)
 
(539
)
 
(518
)
 

 

 

Amortization:
 
 
 
 
 
 
 
 
 
 
 
Net loss
171

 
234

 
147

 
25

 
43

 
22

Prior service cost (credit)
5

 
7

 
10

 
(39
)
 
(39
)
 
(43
)
Termination, settlement and curtailment
34

 
8

 

 
(2
)
 

 

Net periodic benefit cost
$
14

 
$
133

 
$
52

 
$
78

 
$
122

 
$
101

 
 
Schedule Of Termination Settlement And Curtailment Cost
The amounts included in termination, settlement and curtailment in the table above were comprised of the following changes:
 
      Pension
 
Postretirement
(in millions)
2016

 
2015

 
2016
Benefit obligation
$
23

 
$

 
$
11

Other comprehensive earnings/losses:
 
 
 
 
 
Net loss (earnings)
9

 
8

 

Prior service cost (credit)
2

 

 
(13
)
 
$
34

 
$
8

 
$
(2
)
 
 
Schedule of Estimated Net Loss and Prior Service Cost (Credit) Expected to be Amortized in 2017
The estimated net loss and prior service cost (credit) that are expected to be amortized from accumulated other comprehensive losses into net periodic benefit cost during 2017 is as follows:
(in millions)
Pension

 
Postretirement

Net loss
$
200

 
$
32

Prior service cost (credit)
4

 
(38
)
 
 
Schedule Of Assumptions To Determine Net Periodic Benefit Cost
The following assumptions were used to determine Altria Group, Inc.’s net periodic benefit cost for the years ended December 31:
 
             Pension
 
              Postretirement
 
2016

 
2015

 
2014

 
2016

 
2015

 
2014

Discount rates:


 


 


 


 


 


     Service cost
4.7
%
 
4.1
%
 
4.9
%
 
4.5
%
 
4.0
%
 
4.8
%
     Interest cost
3.6

 
4.1

 
4.9

 
3.4

 
4.0

 
4.8

Expected rate of return on plan assets
8.0

 
8.0

 
8.0

 

 

 

Rate of compensation increase
4.0

 
4.0

 
4.0

 

 

 

Health care cost trend rate

 

 

 
6.5

 
7.0

 
7.0

 
 
Effects of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates
A one-percentage-point change in assumed health care cost trend
rates would have had the following effects as of December 31, 2016:
 
One-Percentage-Point Increase

 
One-Percentage-Point Decrease

Effect on total of postretirement service and interest cost
8.0
%
 
(6.7
)%
Effect on postretirement benefit obligation
6.4
%
 
(5.4
)%
 
 
Schedule of Fair Value of Plan Assets by Asset Category
The fair values of Altria Group, Inc.’s pension plan assets by asset category at December 31, 2016 and 2015 were as follows:
 
2016
 
2015
(in millions)
Level 1

 
Level 2

 
Level 3

 
Total

 
Level 1

 
Level 2

 
Level 3

 
Total

U.S. and foreign government securities or
their agencies:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. government and agencies
$

 
$
444

 
$

 
$
444

 
$

 
$
331

 
$

 
$
331

U.S. municipal bonds

 
102

 

 
102

 

 
102

 

 
102

Foreign government and agencies

 
185

 

 
185

 

 
252

 

 
252

Corporate debt instruments:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Above investment grade

 
1,735

 

 
1,735

 

 
1,660

 

 
1,660

Below investment grade and no rating

 
602

 

 
602

 

 
502

 

 
502

Common stock:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
International equities
1,076

 

 

 
1,076

 
907

 

 
2

 
909

U.S. equities
760

 

 

 
760

 
605

 

 

 
605

Registered investment companies
51

 

 

 
51

 
58

 

 

 
58

Other, net
91

 
33

 
13

 
137

 
16

 
58

 
13

 
87

 
$
1,978

 
$
3,101

 
$
13

 
$
5,092

 
$
1,586

 
$
2,905

 
$
15

 
$
4,506

Investments measured at NAV as a practical expedient for fair value:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Common/collective trusts:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. large cap
 
 
 
 
 
 
1,940

 
 
 
 
 
 
 
1,762

U.S. small cap
 
 
 
 
 
 
363

 
 
 
 
 
 
 
360

International developed markets
 
 
 
 
 
 
80

 
 
 
 
 
 
 
78

Fair value of plan assets, net
 
 
 
 
 
 
$
7,475

 
 
 
 
 
 
 
$
6,706

 
 
Estimated Future Benefit Payments
Estimated future benefit payments at December 31, 2016 were as follows:
(in millions)
Pension

 
Postretirement

2017
$
456

 
$
147

2018
461

 
149

2019
449

 
145

2020
456

 
143

2021
459

 
141

2022-2026
2,395

 
655


 
 
Schedule of Amounts Recognized in Other Comprehensive Income (Loss)
The amounts recorded in accumulated other comprehensive losses at December 31, 2016 consisted of the following:
(in millions)
Pension

 
Post-
retirement

 
Post-
employment

 
Total

Net loss
$
(2,857
)
 
$
(581
)
 
$
(99
)
 
$
(3,537
)
Prior service (cost) credit
(19
)
 
195

 

 
176

Deferred income taxes
1,124

 
153

 
36

 
1,313

Amounts recorded in accumulated other comprehensive losses
$
(1,752
)
 
$
(233
)
 
$
(63
)
 
$
(2,048
)

The amounts recorded in accumulated other comprehensive losses at December 31, 2015 consisted of the following:
(in millions)
Pension

 
Post-
retirement

 
Post-
employment

 
Total

Net loss
$
(2,805
)
 
$
(588
)
 
$
(108
)
 
$
(3,501
)
Prior service (cost) credit
(22
)
 
231

 

 
209

Deferred income taxes
1,101

 
141

 
40

 
1,282

Amounts recorded in accumulated other comprehensive losses
$
(1,726
)
 
$
(216
)
 
$
(68
)
 
$
(2,010
)
 
 
Movements in Other Comprehensive Earnings/Losses
The movements in other comprehensive earnings/losses during the year ended December 31, 2014 were as follows:
(in millions)
Pension

 
Post-
retirement

 
Post-
employment

 
Total

Amounts reclassified to net earnings as components of net periodic benefit cost:
 
 
 
 
 
 
 
Amortization:
 
 
 
 
 
 
 
Net loss
$
147

 
$
22

 
$
18

 
$
187

Prior service cost/credit
10

 
(43
)
 

 
(33
)
Deferred income taxes
(61
)
 
8

 
(7
)
 
(60
)
 
96

 
(13
)
 
11

 
94

Other movements during the year:
 
 
 
 
 
 
 
Net loss
(1,093
)
 
(306
)
 
(12
)
 
(1,411
)
Deferred income taxes
425

 
120

 
5

 
550

 
(668
)
 
(186
)
 
(7
)
 
(861
)
Total movements in other comprehensive earnings/losses
$
(572
)
 
$
(199
)
 
$
4

 
$
(767
)
The movements in other comprehensive earnings/losses during the year ended December 31, 2016 were as follows:
(in millions)
Pension

 
Post-
retirement

 
Post-
employment

 
Total

Amounts reclassified to net earnings as components of net periodic benefit cost:
 
 
 
 
 
 
 
Amortization:
 
 
 
 
 
 
 
Net loss
$
171

 
$
25

 
$
18

 
$
214

Prior service cost/credit
5

 
(39
)
 

 
(34
)
Other expense (income):
 
 
 
 
 
 
 
Net loss
9

 

 

 
9

Prior service cost/credit
2

 
(13
)
 

 
(11
)
Deferred income taxes
(69
)
 
11

 
(7
)
 
(65
)
 
118

 
(16
)
 
11

 
113

Other movements during the year:
 
 
 
 
 
 
 
Net loss
(232
)
 
(18
)
 
(9
)
 
(259
)
Prior service cost/credit
(4
)
 
16

 

 
12

Deferred income taxes
92

 
1

 
3

 
96

 
(144
)
 
(1
)
 
(6
)
 
(151
)
Total movements in other comprehensive earnings/losses
$
(26
)
 
$
(17
)
 
$
5

 
$
(38
)

The movements in other comprehensive earnings/losses during the year ended December 31, 2015 were as follows:
(in millions)
Pension

 
Post-
retirement

 
Post-
employment

 
Total

Amounts reclassified to net earnings as components of net periodic benefit cost:
 
 
 
 
 
 
 
Amortization:
 
 
 
 
 
 
 
Net loss
$
234

 
$
43

 
$
19

 
$
296

Prior service cost/credit
7

 
(39
)
 

 
(32
)
Other expense:
 
 
 
 
 
 
 
Net loss
8

 

 

 
8

Deferred income taxes
(96
)
 
(2
)
 
(7
)
 
(105
)
 
153

 
2

 
12

 
167

Other movements during the year:
 
 
 
 
 
 
 
Net loss
(410
)
 
192

 
(5
)
 
(223
)
Prior service cost/credit
(6
)
 
6

 

 

Deferred income taxes
160

 
(75
)
 
1

 
86

 
(256
)
 
123

 
(4
)
 
(137
)
Total movements in other comprehensive earnings/losses
$
(103
)
 
$
125

 
$
8

 
$
30