Kraft 2006 Annual Report Download - page 99

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Third-Party Guarantees:
At December 31, 2006, the Company's third-party guarantees, which are primarily derived from acquisition and divestiture activities, approximated
$21 million, of which $8 million have no specified expiration dates. Substantially all of the remainder expire through 2016, with no guarantees expiring during
2007. The Company is required to perform under these guarantees in the event that a third party fails to make contractual payments or achieve performance
measures. The Company has a liability of $16 million on its consolidated balance sheet at December 31, 2006, relating to these guarantees.
Note 19. Quarterly Financial Data (Unaudited):
2006 Quarters
First
Second
Third
Fourth
(in millions, except per share data)
Net revenues $ 8,123 $ 8,619 $ 8,243 $ 9,371
Gross profit $ 2,932 $ 3,184 $ 3,000 $ 3,300
Net earnings $ 1,006 $ 682 $ 748 $ 624
Weighted average shares for diluted EPS 1,662 1,656 1,648 1,642
Per share data:
Basic EPS $ 0.61 $ 0.41 $ 0.46 $ 0.38
Diluted EPS $ 0.61 $ 0.41 $ 0.45 $ 0.38
Dividends declared $ 0.23 $ 0.23 $ 0.25 $ 0.25
Market price—high $ 31.25 $ 33.31 $ 36.47 $ 36.67
—low $ 27.44 $ 28.97 $ 29.50 $ 33.48
94
Source: KRAFT FOODS INC, 10-K, March 01, 2007