Kraft 2005 Annual Report Download - page 30

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MERRILL CORPORATION ABLIJDE// 7-MAR-06 14:42 DISK126:[06CHI5.06CHI1135]DI1135A.;10
mrll.fmt Free: 4550DM/0D Foot: 0D/ 0D VJ RSeq: 10 Clr: 0
DISK024:[PAGER.PSTYLES]UNIVERSAL.BST;51
KRAFT FOODS-FSC CERTIFIED-10K/AR Proj: P1102CHI06 Job: 06CHI1135 File: DI1135A.;10
Merrill Corporation/Chicago (312) 786-6300 Page Dim: 8.250X 10.750Copy Dim: 38. X 54.3
announced the sales of certain Canadian assets and a small U.S. biscuit brand, and incurred pre-tax
asset impairment charges of $176 million in recognition of these sales. These transactions closed in the
first quarter of 2006.
During 2004, the Company sold a Brazilian snack nuts business and trademarks associated with a
candy business in Norway. The aggregate proceeds received from the sales of these businesses were
$18 million, on which pre-tax losses of $3 million were recorded.
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.
The operating results of the businesses acquired and sold, excluding the sugar confectionery
business, in the aggregate, were not material to the Company’s consolidated financial position, results
of operations or cash flows in any of the periods presented.
29
6 C Cs: 40236