Snapple 2008 Annual Report Download - page 134
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Parent Guarantor Non-Guarantor Eliminations Total
Condensed Consolidating Statement of Operations
For the Year Ended December 31, 2008
(In millions)
Net sales ................................. $ — $5,137 $587 $ (14) $5,710
Cost of sales............................... — 2,348 256 (14) 2,590
Gross profit ............................. — 2,789 331 — 3,120
Selling, general and administrative expenses ....... — 1,875 200 — 2,075
Depreciation and amortization .................. — 105 8 — 113
Impairment of goodwill and intangible assets....... — 1,039 — — 1,039
Restructuring costs .......................... — 55 2 — 57
Other operating expense (income) ............... — 6 (2) — 4
Income (loss) from operations ................ — (291) 123 — (168)
Interest expense ............................ 192 321 — (256) 257
Interest income ............................. (132) (148) (8) 256 (32)
Other (income) expense ...................... (19) — 1 — (18)
(Loss) income before provision for income taxes
and equity in earnings of subsidiaries ......... (41) (464) 130 — (375)
Provision for income taxes .................... (24) (78) 41 — (61)
(Loss) income before equity in earnings of
subsidiaries ............................ (17) (386) 89 — (314)
Equity in (loss) earnings of consolidated
subsidiaries .............................. (414) 65 — 349 —
Equity in earnings of unconsolidated subsidiaries, net
oftax.................................. — — 2 — 2
Net (loss) income ........................... $(431) $ (321) $ 91 $ 349 $ (312)
Parent Guarantor Non-Guarantor Eliminations Total
Condensed Consolidating Statement of Operations
For the Year Ended December 31, 2007
(In millions)
Net sales . ................................ $— $5,131 $575 $(11) $5,695
Cost of sales............................... — 2,336 239 (11) 2,564
Gross profit.............................. — 2,795 336 — 3,131
Selling, general and administrative expenses ....... — 1,828 190 — 2,018
Depreciation and amortization .................. — 91 7 — 98
Impairment of intangible assets ................. — 6 — — 6
Restructuring costs .......................... — 63 13 — 76
Other operating (income) expense ............... — (71) — — (71)
Income from operations..................... — 878 126 — 1,004
Interest expense ............................ — 224 29 — 253
Interest income ............................. — (48) (16) — (64)
Other (income) expense ...................... — — (2) — (2)
Income before provision for income taxes and
equity in earnings of subsidiaries ............ — 702 115 — 817
Provision for income taxes .................... — 280 42 — 322
Income before equity in earnings of subsidiaries . . — 422 73 — 495
Equity in earnings of consolidated subsidiaries ..... — 1 — (1) —
Equity in earnings of unconsolidated subsidiaries, net
oftax.................................. — — 2 — 2
Net income................................ $— $ 423 $ 75 $ (1) $ 497
110
DR PEPPER SNAPPLE GROUP, INC.
NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS — (Continued)