Snapple 2008 Annual Report Download - page 77
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DR PEPPER SNAPPLE GROUP, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
For the Years Ended December 31, 2008, 2007 and 2006
2008 2007 2006
For the Year Ended
December 31,
(In millions, except per share
data)
Net sales ...................................................... $5,710 $5,695 $4,700
Cost of sales ................................................... 2,590 2,564 1,959
Gross profit .................................................. 3,120 3,131 2,741
Selling, general and administrative expenses ............................ 2,075 2,018 1,659
Depreciation and amortization ...................................... 113 98 69
Impairment of goodwill and intangible assets ........................... 1,039 6 —
Restructuring costs .............................................. 57 76 27
Other operating expense (income) ................................... 4 (71) (32)
(Loss) income from operations .................................... (168) 1,004 1,018
Interest expense ................................................. 257 253 257
Interest income ................................................. (32) (64) (46)
Other (income) expense ........................................... (18) (2) 2
(Loss) income before provision for income taxes and equity in earnings of
unconsolidated subsidiaries ..................................... (375) 817 805
Provision for income taxes ......................................... (61) 322 298
(Loss) income before equity in earnings of unconsolidated subsidiaries ...... (314) 495 507
Equity in earnings of unconsolidated subsidiaries, net of tax ................ 2 2 3
Net (loss) income ............................................... $ (312) $ 497 $ 510
(Loss) earnings per common share:
Basic ....................................................... $(1.23) $ 1.96 $ 2.01
Diluted ..................................................... $(1.23) $ 1.96 $ 2.01
Weighted average common shares outstanding:
Basic ....................................................... 254.0 253.7 253.7
Diluted ..................................................... 254.0 253.7 253.7
The accompanying notes are an integral part of these consolidated financial statements.
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