Kraft 2006 Annual Report Download - page 25

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Item 6. Selected Financial Data.
KRAFT FOODS INC.
Selected Financial Data—Five Year Review (in millions of dollars, except per share data)
2006
2005
2004
2003
2002
Summary of Operations:
Net revenues $ 34,356 $ 34,113 $ 32,168 $ 30,498 $ 29,248
Cost of sales 21,940 21,845 20,281 18,531 17,463
Operating income 4,526 4,752 4,612 5,860 5,961
Interest and other debt expense, net 510 636 666 665 847
Earnings from continuing operations, before
income taxes and minority interest 4,016 4,116 3,946 5,195 5,114
Pre-tax profit margin from continuing
operations 11.7% 12.1% 12.3% 17.0% 17.5%
Provision for income taxes 951 1,209 1,274 1,812 1,813
Minority interest in earnings from
continuing operations, net 5 3 3 4 4
(Loss) earnings from discontinued
operations, net of income taxes — (272) (4) 97 97
Net earnings 3,060 2,632 2,665 3,476 3,394
Basic EPS:
Continuing operations 1.86 1.72 1.56 1.95 1.90
Discontinued operations — (0.16) — 0.06 0.06
Net earnings 1.86 1.56 1.56 2.01 1.96
Diluted EPS:
Continuing operations 1.85 1.72 1.55 1.95 1.90
Discontinued operations — (0.17) — 0.06 0.06
Net earnings 1.85 1.55 1.55 2.01 1.96
Dividends declared per share 0.96 0.87 0.77 0.66 0.56
Weighted average shares (millions)—Basic 1,643 1,684 1,709 1,727 1,734
Weighted average shares
(millions)—Diluted 1,655 1,693 1,714 1,728 1,736
Capital expenditures 1,169 1,171 1,006 1,085 1,184
Depreciation 884 869 868 804 709
Property, plant and equipment, net 9,693 9,817 9,985 10,155 9,559
Inventories 3,506 3,343 3,447 3,343 3,382
Total assets 55,574 57,628 59,928 59,285 57,100
Long-term debt 7,081 8,475 9,723 11,591 10,416
Notes payable to Altria Group, Inc. and
affiliates — — — — 2,560
Total debt 10,821 11,200 12,518 13,462 14,443
Shareholders' equity 28,555 29,593 29,911 28,530 25,832
Common dividends declared as a % of
Basic EPS 51.6% 55.8% 49.4% 32.8% 28.6%
Common dividends declared as a % of
Diluted EPS 51.9% 56.1% 49.7% 32.8% 28.6%
Book value per common share outstanding 17.45 17.72 17.54 16.57 14.92
Market price per Class A common
share—high/low 36.67-27.44 35.65-27.88 36.06-29.45 39.40-26.35 43.95-32.50
Closing price of Class A common share at
year end 35.70 28.17 35.61 32.22 38.93
Price/earnings ratio at year end—Basic 19 18 23 16 20
Price/earnings ratio at year end—Diluted 19 18 23 16 20
Number of common shares outstanding at
year end (millions) 1,636 1,670 1,705 1,722 1,731
Number of employees 90,000 94,000 98,000 106,000 109,000
21
Source: KRAFT FOODS INC, 10-K, March 01, 2007