v3.23.3
Investments in Equity Securities (Tables)
 9 Months Ended
Sep. 30, 2023
Investments [Abstract]  
Investment
The carrying amount of our current and former investments consisted of the following:
(in millions)September 30, 2023December 31, 2022
ABI$9,563 $8,975 
Cronos344 375 
JUUL
— 250 
Total
$9,907 $9,600 
(Income) losses from our current and former investments in equity securities consisted of the following:
For the Nine Months Ended September 30,For the Three Months Ended September 30,
(in millions)2023202220232022
ABI (1)
$(401)$2,155 $(61)$2,367 
Cronos (1)
46 197 3 11 
(Income) losses from investments under equity method of accounting(355)2,352 (58)2,378 
JUUL 250 
(2)
1,355 
(3)
— 100 
(3)
(Income) losses from investments in equity securities$(105)$3,707 $(58)$2,478 
(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 United States generally accepted accounting principles (“GAAP”) and (ii) adjustments to our investments required under the equity method of accounting.
(2) Represents loss as a result of the disposition of our JUUL equity securities discussed below.
(3) Represents the estimated change in fair value. Prior to the disposition of our JUUL equity securities on March 3, 2023, we accounted for our former investment in JUUL as an investment in an equity security measured at fair value.