Kraft 2009 Annual Report Download - page 237
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Gross profit $ 3,301 $ 3,868 $ 3,305 $ 3,370
Earnings from
continuing
operations $ 547 $ 678 $ 520 $ 103
Earnings and gain
from discontinued
operations, net of
income taxes 54 69 845 77
Net earnings 601 747 1,365 180
Noncontrolling
interest 2 2 3 2
Net earnings
attributable to
Kraft Foods $ 599 $ 745 $ 1,362 $ 178
Weighted-average
shares for diluted
EPS 1,542 1,532 1,503 1,481
Per share data:
Basic EPS
attributable to
Kraft Foods:
Continuing
operations $ 0.35 $ 0.44 $ 0.34 $ 0.07
Discontinued
operations 0.04 0.05 0.57 0.05
Net earnings
attributable to
Kraft Foods $ 0.39 $ 0.49 $ 0.91 $ 0.12
Diluted EPS
attributable to
Kraft Foods:
Continuing
operations $ 0.35 $ 0.44 $ 0.34 $ 0.07
Discontinued
operations 0.04 0.05 0.57 0.05
Net earnings
attributable to
Kraft Foods $ 0.39 $ 0.49 $ 0.91 $ 0.12
Dividends
declared $ 0.27 $ 0.27 $ 0.29 $ 0.29
Market price -
high $ 32.85 $ 32.99 $ 34.97 $ 34.05
Market price -
low $ 28.63 $ 28.33 $ 28.04 $ 24.75
Basic and diluted EPS are computed independently for each of the periods presented. Accordingly, the sum of the
quarterly EPS amounts may not equal the total for the year.
During the fourth quarter of 2008, we increased our gain on discontinued operations by $77 million to correct for a
deferred tax liability related to the split-off of the Post cereals business. As such, our gain from the split-off of the Post
cereals business was $926 million.
During 2008, we recorded the following pre-tax charges / (gains) in earnings from continuing operations:
2008 Quarters
First Second Third Fourth
(in millions)
Asset impairment
and exit costs $ 80 $ 103 $ 123 $ 718
(Gains) / losses on
divestitures, net 18 74 1 (1)
$ 98 $ 177 $ 124 $ 717
Source: KRAFT FOODS INC, 10-K, February 25, 2010 Powered by Morningstar® Document Research℠