Kraft 2014 Annual Report Download - page 20

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Item 6. Selected Financial Data.
Kraft Foods Group, Inc.
Selected Financial Data – Five Year Review
Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations.
The following discussion should be read in conjunction with the other sections of this Annual Report on Form 10-K, including the
consolidated financial statements and related notes contained in Item 8.
Description of the Company
We manufacture and market food and beverage products, including cheese, meats, refreshment beverages, coffee, packaged
dinners, refrigerated meals, snack nuts, dressings, and other grocery products, primarily in the United States and Canada. Our
product categories span breakfast, lunch, and dinner meal occasions.
16
December 27,
2014
December 28,
2013
December 29,
2012
(1)
December 31,
2011
(1)
December 31,
2010
(1)
(in millions of dollars, except per share data)
Year Ended:
Net revenues $ 18,205 $ 18,218 $ 18,271 $ 18,576 $ 17,739
Earnings from continuing operations 1,043 2,715 1,642 1,775 1,890
Earnings and gain from discontinued
operations, net of income taxes — — — — 1,644
Net earnings $1,043 $2,715 $1,642 $ 1,775 $ 3,534
Earnings from continuing operations per
share
(2)
:
Basic $1.75 $4.55 $2.77 $ 3.00 $ 3.20
Diluted $1.74
$4.51
$2.75
$ 3.00
$ 3.20
Net cash provided by operating activities $2,020 $2,043 $3,035 $ 2,664 $ 828
Capital expenditures 535 557 440 401 448
Depreciation and amortization 385 393 428 364 354
As of:
Total assets 22,947 23,148 23,179 21,389 21,448
Long-term debt
(3)
8,627 9,976 9,966 27 31
Total equity 4,365 5,187 3,572 16,588 17,037
Dividends declared per share $2.15 $2.05 $0.50 $ — $ —
(1) Prior to the Spin-Off on October 1, 2012, our financial statements were prepared on a stand-alone basis and were derived from the consolidated financial
statements and accounting records of MondelƝz International. Our financial statements for the years ended December 29, 2012, December 31, 2011 and
December 31, 2010 included certain expenses of MondelƝz International that were allocated to us. These allocations were not necessarily indicative of the
actual expenses we would have incurred as an independent public company or of the costs we will incur in the future, and may differ substantially from the
allocations we agreed to in the various separation agreements.
(2) On October 1, 2012, MondelƝz International distributed 592 million shares of Kraft Foods Group common stock to MondelƝz International’s shareholders.
Basic and diluted earnings per common share and the average number of common shares outstanding were retrospectively restated for the years ended
December 31, 2011 and December 31, 2010 for the number of Kraft Foods Group shares outstanding immediately following the Spin-Off.
(3) Excludes current portion of long-term debt.