Kraft 2009 Annual Report Download - page 228
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Commitments and Contingencies:
Commitments and Contingencies:
(USD $)
12 Months Ended
12/31/2009
Commitments and Contingencies: Note 13. Commitments and Contingencies:
Legal Proceedings:
We are involved, from time to time, in legal proceedings, claims, and governmental inspections or investigations,
arising in the ordinary course of our business. While we cannot predict with certainty the results of these matters,
we do not expect that the ultimate costs to resolve these matters will have a material effect on our financial
results.
In 2009, we recorded an additional $50 million of charges for legal matters related to certain of our European
operations. See Part I Item 3. Legal Proceedings for a description of these matters. In 2008, we recorded
charges of $72 million for legal matters related to certain of our U.S. and European operations, including U.S.
coffee operations.
Third-Party Guarantees:
We have third-party guarantees primarily covering the long-term obligations of our vendors. As part of those
transactions, we guarantee that third parties will make contractual payments or achieve performance measures.
At December 31, 2009, the carrying amount of our third-party guarantees on our consolidated balance sheet and
the maximum potential payment under these guarantees was $29 million. Substantially all of these guarantees
expire at various times through 2018.
Leases:
Rental expenses were $505 million in 2009, $505 million in 2008 and $433 million in 2007. As of December 31,
2009, minimum rental commitments under non-cancelable operating leases in effect at year-end were (in
millions):
2010 $ 306
2011 243
2012 185
2013 103
2014 76
Thereafter 212
Source: KRAFT FOODS INC, 10-K, February 25, 2010 Powered by Morningstar® Document Research℠