Snapple 2010 Annual Report Download - page 128

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DR PEPPER SNAPPLE GROUP, INC.
NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
23. Guarantor and Non-Guarantor Financial Information
The Company’s 2011, 2012, 2013, 2018 and 2038 Notes (collectively, the “Notes”) are fully and unconditionally guaranteed by
substantially all of the Company’s existing and future direct and indirect domestic subsidiaries (except two immaterial subsidiaries
associated with the Company’scharitable foundations) (the “Guarantors”), as defined in the indenture governing the notes. The Guarantors
are wholly-owned either directly or indirectly by the Company and jointly and severally on a full and unconditional basis guarantee the
Company’s obligations under the notes. None of the Company’s subsidiaries organized outside of the United States guarantee the notes
(collectively, the “Non-Guarantors”).
The following schedules present the information for the Guarantors and Non-Guarantors for the years ended December 31, 2010,
2009 and 2008 and as of December 31, 2010 and 2009. The consolidating schedules are provided in accordance with the reporting
requirements for guarantor subsidiaries.
On May 7, 2008, Cadbury plc transferred its Americas Beverages business to Dr Pepper Snapple Group, Inc., which became an
independent publicly-traded company. Prior to the transfer, Dr Pepper Snapple Group, Inc. did not have any operations. Accordingly,
activity for Dr Pepper Snapple Group, Inc. (the “Parent”) is reflected in the consolidating statements from May 7, 2008 forward.
Net sales
Cost of sales
Gross profit
Selling, general and administrative expenses
Depreciation and amortization
Other operating expense (income), net
Income (loss) from operations
Interest expense
Interest income
Loss on early extinguishment of debt
Other (income) expense, net
Income (loss) before provision for income taxes and
equity in earnings of subsidiaries
Provision for income taxes
Income (loss) before equity in earnings of
subsidiaries
Equity in earnings (loss) of consolidated
subsidiaries, net of tax
Equity in earnings of unconsolidated subsidiaries,
net of tax
Net income (loss)
Condensed Consolidating Statement of Operations
For the Year Ended December 31, 2010
Parent
(In millions)
$—
—
—
—
—
—
—
128
(75)
100
(20)
(133)
(52)
(81)
609
—
$ 528
Guarantors
$ 5,129
2,026
3,103
2,019
122
8
954
78
(2)
—
(3)
881
327
554
55
—
$ 609
Non-Guarantors
$ 534
244
290
214
5
—
71
—
(4)
—
2
73
19
54
—
1
$55
Eliminations
$(27)
(27)
—
—
—
—
—
(78)
78
—
—
—
—
—
(664)
—
$(664)
Total
$ 5,636
2,243
3,393
2,233
127
8
1,025
128
(3)
100
(21)
821
294
527
—
1
$ 528
108