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95% CI: 1.4637.41

For experienced users, its all about zeroing in on brands that offer your preferred nicotine strength before honing in on flavour choices

You can also light up a cigar or a pipe within the Connoisseur Club

In summary, here are all the key assumptions in our model: -2% decline in traditional tobacco ex-menthol 50% drop in US menthol brand sales in 2026 driven by US ban 25% growth in smoke-free products near term, stepping down to 12% by 2030 40% incremental margins in smoke-free products 51% operating margins in combustibles, falling to 44% over time due to menthol ban and 60% decremental margins 11x terminal PE ratio in 2030 justified by the 35% revenue share of non-combustibles and 2% profit growth in that year

Reynolds Tobacco Company combine and Reynolds American is formed a stronger, more sustainable business in which we have a 42% share

[45] Since 2019, the smoking age in Kentucky has been 21 under federal law