Rendering

Component: (Network and Table)
Network
2308301 - Disclosure - Finance Assets, net (Tables)
(http://www.altria.com/role/FinanceAssetsNetTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Receivables [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Receivables [Abstract]
 
Summary of Net Investments in Finance Leases
A summary of the net investments in finance leases, substantially all of which were leveraged leases, at December 31, 2016 and 2015, before allowance for losses was as follows:
(in millions)
 
2016

 
2015

Rents receivable, net
 
$
805

 
$
923

Unguaranteed residual values
 
495

 
674

Unearned income
 
(240
)
 
(316
)
Investments in finance leases
 
1,060

 
1,281

Deferred income taxes
 
(717
)
 
(928
)
Net investments in finance leases
 
$
343

 
$
353

 
 
Schedule of Rents Receivable in Excess of Debt Service Requirements
Rents receivable in excess of debt service requirements on third-party nonrecourse debt at December 31, 2016 were as follows:
(in millions)
 
2017
$
33

2018
129

2019
186

2020
128

2021
100

Thereafter
229

Total
$
805

 
 
Schedule of Allowance for Losses on Finance Assets
The activity in the allowance for losses on finance assets for the years ended December 31, 2016, 2015 and 2014 was as follows:
(in millions)
2016

 
2015

 
2014

Balance at beginning of year
$
42

 
$
42

 
$
52

Decrease to allowance
(10
)
 

 
(10
)
Balance at end of year
$
32

 
$
42

 
$
42

 
 
Schedule of Credit Quality of Investments in Finance Leases
The credit quality of PMCC’s investments in finance leases as assigned by Standard & Poor’s Ratings Services (“Standard & Poor’s”) and Moody’s Investors Service, Inc. (“Moody’s”) at December 31, 2016 and 2015 was as follows:
(in millions)
2016

 
2015

Credit Rating by Standard & Poor’s/Moody’s:
 
 
 
“AAA/Aaa” to “A-/A3”
$
218

 
$
212

“BBB+/Baa1” to “BBB-/Baa3”
559

 
702

“BB+/Ba1” and Lower
283

 
367

Total
$
1,060

 
$
1,281