CFO: Billy Gifford In e-vapor, we participate in the category through our 35% economic investment in JUUL. We made the investment based on our belief that JUUL's product development strength, early signs of brand equity and potential to convert adult smokers set it apart from all other e-vapor products in the market. We also believe that the investment would enhance Altria's growing portfolio of noncombustible product offering. Given the dramatic shifts in the current e-vapor regulatory and marketplace environments, we have revised our transaction assumptions. In preparing our financials this quarter, we performed a valuation analysis on our JUUL investment, which considered multiple regulatory and marketplace scenarios. In aggregate, we're now projecting lower e-vapor category volumes in the U.S. versus our original estimates, which resulted in a third quarter non-cash impairment charge of $4.5 billion related to our JUUL investment. Also factoring into this determination where other changes to our original assumptions. For example, we expect it may take longer for JUUL to realize the strong margin performance that we previously communicated. We've also revised our estimates of JUUL's international business due to recent market development. Despite this impairment charge, we remain committed to JUUL's success. We are pleased with the recent decisions by JUUL to change leadership and we are optimistic about JUUL's focus and prioritization in key areas such as establishing industry-leading responsible practices and pursuing regulatory authorization of their products. Finally, regarding antitrust clearance,

Answer rating: 100% (QA)

Billy F Gifford Executive Vice President and Chief Financial Officer Thanks Marty and good morning everyone As you can see from the press release the companys net revenue adjusted operating companies ... View the full answer