Investments in Equity Securities (Tables)

9 Months Ended

Sep. 30, 2026

Equity Method Investments and Joint Ventures [Abstract]

The carrying amount of our investments consisted of the following:


(in millions)	September 30, 2026		December 31, 2025
ABI	$	9,003	$	8,303
Cronos	323		314

Total	$	9,326	$	8,617

(Income) losses from our investments in equity securities consisted of the following:


	For the Nine Months Ended September 30,				For the Three Months Ended September 30,
(in millions)	2026		2025		2026		2025
ABI (1)	$	(468)	$	(396)	$	(228)	$	(123)
Cronos (1)	(19)		(2)		(14)		16
(Income) losses from investments in equity securities	$	(487)	$	(398)	$	(242)	$	(107)

(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.