Snapple 2008 Annual Report Download - page 68

we may utilize amounts available under our revolving credit facility. Refer to Notes 11 and 15 of the Notes to our
Audited Consolidated Financial Statements for additional information regarding the items described in this table.
Total 2009 2010 2011 2012 2013
After
2013
Payments Due in Year
Senior unsecured credit facility ............ $1,805 $ — $292 $330 $ 908 $275 $ —
Senior unsecured notes .................. 1,700 — — — — 250 1,450
Capital leases(1) ....................... 19 2 3 3 4 4 3
Interest payments(2) .................... 1,657 203 181 177 159 112 825
Operating leases(3) ..................... 280 66 56 41 31 27 59
Purchase obligations(4) .................. 436 236 40 36 33 28 63
Other long-term liabilities(5) .............. 207 16 18 18 18 22 115
Short-term tax reserves .................. 2 2 — — — — —
Payable to Cadbury(6) .................. 125 24 8 8 8 8 69
Total ............................... $6,231 $549 $598 $613 $1,161 $726 $2,584
(1) Amounts represent capitalized lease obligations, net of interest. Interest in respect of capital leases is included
under the caption “Interest payments” on this table.
(2) Amounts represent our estimated interest payments based on: (a) projected interest rates for floating rate debt,
(b) the impact of interest rate swaps which convert variable interest rates to fixed rates, (c) specified interest
rates for fixed rate debt, (d) capital lease amortization schedules and (e) debt amortization schedules.
(3) Amounts represent minimum rental commitment under non-cancelable operating leases.
(4) Amounts represent payments under agreements to purchase goods or services that are legally binding and that
specify all significant terms, including capital obligations and long-term contractual obligations.
(5) Amounts represent estimated pension and postretirement benefit payments for U.S. and non-U.S. defined
benefit plans.
(6) Additional amounts payable to Cadbury of approximately $11 million are excluded from the table above. Due
to uncertainty regarding the timing of payments associated with these liabilities, we are unable to make a
reasonable estimate of the amount and period in which these liabilities might be paid.
In accordance with the provisions of FASB Interpretation No. 48, Accounting for Uncertainty in Income
Taxes — an Interpretation of FASB Statement 109, we had $515 million of unrecognized tax benefits as of
December 31, 2008, classified as a long-term liability. The table above does not reflect any payments related to tax
reserves if it is not possible to make a reasonable estimate of the amount or timing of the payment.
Off-Balance Sheet Arrangements
There are no off-balance sheet arrangements that have or are reasonably likely to have a current or future
material effect on our results of operations, financial condition, liquidity, capital expenditures or capital resources.
Critical Accounting Estimates
The process of preparing our consolidated financial statements in conformity with U.S. GAAP requires the use
of estimates and judgments that affect the reported amounts of assets, liabilities, revenue, and expenses. Critical
accounting estimates are both fundamental to the portrayal of a company’s financial condition and results and
require difficult, subjective or complex estimates and assessments. These estimates and judgments are based on
historical experience, future expectations and other factors and assumptions we believe to be reasonable under the
circumstances. The most significant estimates and judgments are reviewed on an ongoing basis and revised when
necessary. Actual amounts may differ from these estimates and judgments. We have identified the policies
described below as our critical accounting estimates. See Note 2 to our Consolidated Financial Statements for a
discussion of these and other accounting policies.
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