Snapple 2008 Annual Report Download - page 132

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The Company had other related party receivables of $66 million as of December 31, 2007, which primarily
related to taxes, accrued interest receivable from the notes with wholly owned subsidiaries of Cadbury and other
operating activities.
Payables
As of December 31, 2007, the Company had a related party payable balance of $175 million which represented
non-interest bearing payable balances with companies owned by Cadbury, related party accrued interest payable
associated with interest bearing notes and related party payables for sales of goods and services with companies
owned by Cadbury.
Long-term Obligations
Prior to separation, the Company had a variety of debt agreements with other wholly-owned subsidiaries of
Cadbury that were unrelated to the Company’s business. As of December 31, 2007, outstanding debt totaled
$3,019 million with $126 million recorded in current portion of long-term debt payable to related parties. The
Company recorded interest expense of $67 million, $227 million and $217 million for the years ended December 31,
2008, 2007 and 2006, respectively, related to interest bearing related party debt.
Cadbury Ireland Limited (“CIL”)
As of December 31, 2007, the principal owed to CIL was $40 million. The debt incurred interest at a floating
rate based on three-month LIBOR. The outstanding principal balance was payable on demand and is included in
current portion of long-term debt on the Consolidated Balance Sheet. The Company recorded $1 million of interest
expense related to the debt for 2008 and $2 million of interest expense for both 2007 and 2006.
Cadbury Schweppes Finance plc, (“CSFPLC”)
As of December 31, 2007, the Company had a variety of debt agreements with CSFPLC with maturity dates
ranging from May 2008 to May 2011 with combined outstanding principal balance of $511 million. The debt
incurred interest at a floating rate ranging between LIBOR plus 1.5% to LIBOR plus 2.5%. The Company recorded
$12 million, $65 million and $175 million of interest expense related to these notes for 2008, 2007 and 2006,
respectively.
Cadbury Schweppes Americas Holding BV (“CSAHBV”)
As of December 31, 2007, the Company had a variety of debt agreements with CSAHBV with maturity dates
ranging from 2009 to 2017 with a combined outstanding principal balance of $2,468 million. The debt incurred
interest at a floating rate ranging between six-month USD LIBOR plus 0.75% to six-month USD LIBOR plus
1.75%. The Company recorded $54 million and $149 million of interest expense related to these notes for 2008 and
2007, respectively.
The Company also had additional debt agreements with other wholly-owned subsidiaries of Cadbury that were
unrelated to the Company’s business that incurred interest expense of $11 million and $40 million in 2007 and 2006,
respectively.
108
DR PEPPER SNAPPLE GROUP, INC.
NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS — (Continued)