Kraft 2002 Annual Report Download - page 47

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43
kraft foods inc. selected financial data
—
five-year review
(in millions of dollars, except per share data)
2002 2001 2000 1999 1998
Summary of Operations:
Net revenues* $29,723 $29,234 $22,922 $23,430 $24,140
Cost of sales* 17,720 17,566 13,959 14,615 15,586
Operating income 6,114 4,884 4,012 3,579 3,535
Interest and other debt expense, net 847 1,437 597 539 536
Earnings before income taxes and minority interest 5,267 3,447 3,415 3,040 2,999
Pre-tax profit margin 17.7% 11.8% 14.9% 13.0% 12.4%
Provision for income taxes 1,869 1,565 1,414 1,287 1,367
Net earnings 3,394 1,882 2,001 1,753 1,632
Basic EPS 1.96 1.17 1.38 1.20 1.12
Diluted EPS 1.96 1.17 1.38 1.20 1.12
Dividends declared per share 0.56 0.26
———
Weighted average shares (millions)—Basic 1,734 1,610 1,455 1,455 1,455
Weighted average shares (millions)—Diluted 1,736 1,610 1,455 1,455 1,455
Capital expenditures 1,184 1,101 906 860 841
Depreciation 709 680 499 491 494
Property, plant and equipment, net 9,559 9,109 9,405 6,526 6,494
Inventories 3,382 3,026 3,041 2,563 2,570
Total assets 57,100 55,798 52,071 30,336 31,391
Long-term debt 10,416 8,134 2,695 433 483
Notes payable to Altria Group, Inc. and affiliates 2,560 5,000 21,407 6,602 6,234
Total debt 14,443 16,007 25,826 7,828 7,168
Total deferred income taxes 4,917 4,565 942 789 707
Shareholders’ equity 25,832 23,478 14,048 13,461 15,134
Common dividends declared as a % of Basic EPS 28.6% 22.2%
———
Common dividends declared as a % of Diluted EPS 28.6% 22.2%
———
Book value per common share outstanding 14.92 13.53 9.65 9.25 10.40
Market price per Class A common share—high/low 43.95-32.50 35.57-29.50
———
Closing price of Class A common share at year end 38.93 34.03
———
Price/earnings ratio at year end—Basic 20 29
———
Price/earnings ratio at year end—Diluted 20 29
———
Number of common shares outstanding at
year end (millions) 1,731 1,735 1,455 1,455 1,455
Number of employees 109,000 114,000 117,000 71,000 78,000
* Kraft Foods Inc. adopted Emerging Issues Task Force (“EITF”) statements relating to the classification of vendor consideration and certain sales incentives resulting in a reclassification of prior period data.
The adoption of the EITF statements had no impact on operating income, net earnings, or basic and diluted EPS.