Kraft 2004 Annual Report Download - page 26

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During 2003, the Company sold a European rice business and a branded fresh cheese business in
Italy. The aggregate proceeds received from sales of businesses were $96 million, on which the
Company recorded pre-tax gains of $31 million.
During 2002, the Company sold several small North American food businesses, some of which had
been previously classified as businesses held for sale arising from the acquisition of Nabisco. In
addition, the Company sold its Latin American yeast and industrial bakery ingredients business for
approximately $110 million and recorded a pre-tax gain of $69 million. The aggregate proceeds received
from sales of businesses were $219 million, on which the Company recorded pre-tax gains of
$80 million.
The operating results of the businesses acquired and sold, excluding the sugar confectionery
business, were not material to the Company’s consolidated financial position, results of operations or
cash flows in any of the periods presented.
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