Kraft 2009 Annual Report Download - page 101
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Note 15. Earnings Per Share:
Basic and diluted EPS from continuing and discontinued operations were calculated using the following:
For the Years Ended December 31,
2009 2008 2007
(in millions, except per share data)
Earnings from continuing operations $ 3,028 $ 1,848 $ 2,492
Earnings and gain from discontinued
operations, net of income taxes - 1,045 232
Net earnings 3,028 2,893 2,724
Noncontrolling interest 7 9 3
Net earnings attributable to Kraft
Foods $ 3,021 $ 2,884 $ 2,721
Weighted-average shares for basic EPS 1,478 1,505 1,591
Plus incremental shares from assumed
conversions of stock options and
long-term incentive plan shares 8 10 9
Weighted-average shares for diluted EPS 1,486 1,515 1,600
Basic earnings per share attributable
to Kraft Foods:
Continuing operations $ 2.04 $ 1.22 $ 1.56
Discontinued operations - 0.70 0.15
Net earnings attributable to Kraft
Foods $ 2.04 $ 1.92 $ 1.71
Diluted earnings per share attributable to
Kraft Foods:
Continuing operations $ 2.03 $ 1.21 $ 1.56
Discontinued operations - 0.69 0.14
Net earnings attributable to Kraft
Foods $ 2.03 $ 1.90 $ 1.70
We exclude antidilutive Kraft Foods stock options from our calculation of weighted-average shares for diluted EPS. We excluded 23.0 million
antidilutive options for the year ended December 31, 2009 and 11.3 million antidilutive options for the year ended December 31, 2008. We
excluded an insignificant number of antidilutive options for the year ended December 31, 2007.
Note 16. Segment Reporting:
Kraft Foods manufactures and markets packaged food products, including snacks, beverages, cheese, convenient meals and various packaged
grocery products. We manage and report operating results through three geographic units: Kraft Foods North America, Kraft Foods Europe and
Kraft Foods Developing Markets. We manage the operations of Kraft Foods North America and Kraft Foods Europe by product category, and we
manage the operations of Kraft Foods Developing Markets by location. Our reportable segments are U.S. Beverages, U.S. Cheese, U.S.
Convenient Meals, U.S. Grocery, U.S. Snacks, Canada & N.A. Foodservice, Kraft Foods Europe (formerly known as European Union) and Kraft
Foods Developing Markets.
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Source: KRAFT FOODS INC, 10-K, February 25, 2010 Powered by Morningstar® Document Research℠