Pepsi 2013 Annual Report Download - page 135

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117
Five-Year Summary
(unaudited)
2013 2012 2011 2010 2009
Net revenue $ 66,415 $ 65,492 $ 66,504 $ 57,838 $ 43,232
Net income attributable to PepsiCo $ 6,740 $ 6,178 $ 6,443 $ 6,320 $ 5,946
Net income attributable to PepsiCo per common
share – basic $ 4.37 $ 3.96 $ 4.08 $ 3.97 $ 3.81
Net income attributable to PepsiCo per common
share – diluted $ 4.32 $ 3.92 $ 4.03 $ 3.91 $ 3.77
Cash dividends declared per common share $ 2.24 $ 2.1275 $ 2.025 $ 1.890 $ 1.775
Total assets $ 77,478 $ 74,638 $ 72,882 $ 68,153 $ 39,848
Long-term debt $ 24,333 $ 23,544 $ 20,568 $ 19,999 $ 7,400
Return on invested capital(a) 14.0% 13.7% 14.3% 17.0% 27.5%
(a) Return on invested capital is defined as adjusted net income attributable to PepsiCo divided by the sum of average common shareholders’
equity and average total debt. Adjusted net income attributable to PepsiCo is defined as net income attributable to PepsiCo plus interest
expense after-tax. Interest expense after-tax was $583 million in 2013, $576 million in 2012, $548 million in 2011, $578 million in 2010
and $254 million in 2009.
• Includes mark-to-market net losses/(gains) of:
2013 2012 2011 2010 2009
Pre-tax $72
$(65) $ 102 $ (91)$ (274)
After-tax $44
$(41) $ 71 $ (58)$ (173)
Per share $ 0.03 $(0.03) $ 0.04 $ (0.04)$ (0.11)
• In 2013, we incurred merger and integration charges of $10 million ($8 million after-tax or $0.01 per share) related to our
acquisition of WBD.
• Includes restructuring and impairment charges of:
2013 2012 2011 2009
Pre-tax $ 163 $ 279 $ 383 $ 36
After-tax $ 129 $ 215 $ 286 $ 29
Per share $ 0.08 $ 0.14 $ 0.18 $ 0.02
• In 2013, we recorded a $111 million net charge related to the devaluation of the bolivar for our Venezuela businesses. $124
million of this charge was recorded in corporate unallocated expenses, with the balance (equity income of $13 million) recorded
in our PAB segment. In total, this net charge had an after-tax impact of $111 million or $0.07 per share.
• In 2013, we recognized a pre- and after-tax gain of $137 million (or $0.09 per share) in connection with the refranchising of
our beverage business in Vietnam, which was offset by incremental investments in our business.
• In 2013, we recognized a non-cash tax benefit of $209 million ($0.13 per share) associated with our agreement with the IRS
resolving all open matters related to the audits for taxable years 2003 through 2009, which reduced our reserves for uncertain
tax positions for the tax years 2003 through 2012.
• In 2012, we incurred merger and integration charges of $16 million ($12 million after-tax or $0.01 per share) related to our
acquisition of WBD.
• In 2012, we recorded restructuring and other charges of $150 million ($176 million after-tax or $0.11 per share) related to
the transaction with Tingyi.
• In 2012, we recorded a pension lump sum settlement charge of $195 million ($131 million after-tax or $0.08 per share).
• In 2012, we recognized a non-cash tax benefit of $217 million ($0.14 per share) associated with a favorable tax court decision
related to the classification of financial instruments.
• In 2011, we incurred merger and integration charges of $329 million ($271 million after-tax or $0.17 per share) related to our
acquisitions of PBG, PAS and WBD.