Pepsi 2011 Annual Report Download - page 56

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Fiscal years ended December31, 2011, December25, 2010 and December26, 2009
(in millions) 2010 2009
2011
Shares Amount Shares Amount Shares Amount
Preferred Stock 0.8 $ 41 0.8 $ 41 0.8 $ 41
Repurchased Preferred Stock
Balance, beginning of year (0.6) (150) (0.6) (145) (0.5) (138)
Redemptions (−) (7) (−) (5) (0.1) (7)
Balance, end of year (0.6) (157) (0.6) (150) (0.6) (145)
Common Stock
Balance, beginning of year 1,865 31 1,782 30 1,782 30
Shares issued in connection with our acquisitions of PBG and PAS – – 83 1 − −
Balance, end of year 1,865 31 1,865 31 1,782 30
Capital in Excess of Par Value
Balance, beginning of year 4,527 250 351
Stock- based compensation expense 326 299 227
Stock option exercises/RSUs converted(a) (361) (500) (292)
Withholding tax on RSUs converted (56) (68) (36)
Equity issued in connection with our acquisitions of PBG and PAS – 4,451 −
Other 25 95 −
Balance, end of year 4,461 4,527 250
Retained Earnings
Balance, beginning of year 37,090 33,805 30,638
Net income attributable to PepsiCo 6,443 6,320 5,946
Cash dividends declared — common (3,192) (3,028) (2,768)
Cash dividends declared — preferred (1) (1) (2)
Cash dividends declared — RSUs (24) (12) (9)
Other – 6 −
Balance, end of year 40,316 37,090 33,805
Accumulated Other Comprehensive Loss
Balance, beginning of year (3,630) (3,794) (4,694)
Currency translation adjustment (1,529) 312 800
Cashow hedges, net of tax:
Net derivative losses (83) (111) (55)
Reclassication of net losses to net income 14 53 28
Pension and retiree medical, net of tax:
Net pension and retiree medical (losses)/gains (1,110) (280) 21
Reclassication of net losses to net income 133 166 86
Unrealized (losses)/gains on securities, net of tax (8) 23 20
Other (16) 1 −
Balance, end of year (6,229) (3,630) (3,794)
Repurchased Common Stock
Balance, beginning of year (284) (16,745) (217) (13,383) (229) (14,122)
Share repurchases (39) (2,489) (76) (4,978) − −
Stock option exercises 20 1,251 24 1,487 11 649
Other 2 108 (15) 129 1 90
Balance, end of year (301) (17,875) (284) (16,745) (217) (13,383)
Total Common Shareholders’ Equity 20,704 21,273 16,908
Noncontrolling Interests
Balance, beginning of year 312 638 476
Net income attributable to noncontrolling interests 19 18 33
Distributions to noncontrolling interests, net (24) (6) −
Currency translation adjustment 65 (13) (12)
Acquisitions and divestitures (57) (326) 150
Other, net (4) 1 (9)
Balance, end of year 311 312 638
Total Equity $ 20,899 $ 21,476 $ 17,442
(a) Includes total tax benets of $43million in 2011, $75million in 2010 and $31million in 2009.
(Continued on following page)
Consolidated Statement of Equity PepsiCo, Inc. and Subsidiaries
PepsiCo, Inc.  Annual Report
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