British American Tobacco (NYSE: BTI) owns the Camel, Newport, Lucky Strike, and Pall Mall cigarette brands. Although it is a U.S. cigarette maker, it has a global footprint, which separates it from both Altria (NYSE: MO), which only operates in the U.S., and Philip Morris International (NYSE: PM), which sells cigarettes internationally but not in the U.S. market.

British American Tobacco made a huge admission about the future of the U.S. cigarette market in 2023 that investors in tobacco stocks should not ignore. Here's what you need to know.

Although a somewhat complex topic, the issue here boils down to the accounting treatment of British American Tobacco's U.S. cigarette brands. Previously the company assumed that the brands would be around forever -- but now it has decided that, at some point, they will no longer exist. The company described the change as:

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Source Fool.com