Altria goes on to report that COVID-19 has had no negative impact Altira’s tobacco businesses. One area of Atlria’s business that was negatively impacted by the pandemic was JUUL, whose operations were affected by stay-at-home orders and government-mandated restrictions.
“While the impact was considered in Altria’s quantitative valuations conducted in connection with the preparation of its financial statements, Altria does not believe the COVID-19 pandemic was a primary driver of the non-cash pre-tax impairment charge recorded during 2020 or the changes in fair value recorded during 2020 and during the six and three months ended June 30, 2021. Altria will continue to monitor the impact of the COVID-19 pandemic on JUUL’s business in its quarterly valuations of JUUL,” the company stated in its report.
You can view Altria’s full report by clicking here. For all the latest news from Altria, visit altria.com.
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