v3.26.1
Investments in Equity Securities (Tables)
 6 Months Ended
Jun. 30, 2026
Equity Method Investments and Joint Ventures [Abstract]  
Investment
The carrying amount of our investments consisted of the following:
(in millions)June 30, 2026December 31, 2025
ABI$8,577 $8,303 
Cronos319 314 
Total$8,896 $8,617 
(Income) losses from our investments in equity securities consisted of the following:
For the Six Months Ended June 30,For the Three Months Ended June 30,
(in millions)2026202520262025
ABI (1)
$(240)
(2)
$(273)$(81)
(2)
$(148)
Cronos (1)
(5)(18)(6)— 
(Income) losses from investments in equity securities$(245)$(291)$(87)$(148)
(1) Includes our share of amounts recorded by our investees and additional adjustments, if required, related to (i) the conversion from international financial reporting standards to GAAP and (ii) adjustments to our investments required under the equity method of accounting.
(2) Includes $114 million of pre-tax dilution loss resulting from ABI’s share activity that reduced our ABI ownership interest.