Snapple 2012 Annual Report Download - page 43

Download and view the complete annual report

Please find page 43 of the 2012 Snapple annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 135

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135

25
RESULTS OF OPERATIONS
Executive Summary — 2012 Financial Overview and Recent Developments
• Net sales totaled $5,995 million for the year ended December 31, 2012, an increase of $92 million, or 2%, from the year
ended December 31, 2011.
• Net income for the year ended December 31, 2012 was $629 million, compared to $606 million for the year ended
December 31, 2011, an increase of $23 million, or 4%.
• Diluted earnings per share was $2.96 for the year ended December 31, 2012 and $2.74 for the year ended December 31,
2011. The diluted earnings per share for the year ended December 31, 2012 increased by 8%.
• During 2012, our Board of Directors (our "Board") declared dividends of $1.36 per share on outstanding common stock,
as compared to $1.21 per share on outstanding common stock during 2011. Dividends declared per share for the year
ended December 31, 2012 increased by 12%.
• During the three and twelve months ended December 31, 2012, we repurchased 3.2 million and 9.5 million shares,
respectively, of our common stock valued at approximately $138 million and $400 million, respectively.
• On October 26, 2012, Standard & Poor's ("S&P") affirmed our debt rating of BBB and revised its outlook to positive
from stable.
• On November 20, 2012, the Company completed the issuance of $500 million aggregate principal amount of senior
unsecured notes consisting of $250 million aggregate principal amount of 2.00% senior notes due January 15, 2020 (the
"2020 Notes") and $250 million aggregate principal amount of 2.70% senior notes due November 15, 2022 (the "2022
Notes"). The net proceeds from the issuance were used to repay the aggregate principal amount of the 2.35% senior notes
due December 21, 2012 (the "2012 Notes") at maturity and for general corporate purposes.
• On January 1, 2013, we launched five new additions (7UP, Sunkist soda, A&W, Canada Dry and RC Cola) to our TEN
platform, which uses a unique blend of sweeteners developed by us to achieve a low-calorie option with the full flavor
of the regular option.
• During the first quarter of 2013, our Board declared a dividend of $0.38 per share, which will be paid on April 5, 2013,
to shareholders of record as of March 15, 2013. The dividend declared during the first quarter of 2013 increased 12%
compared to the dividend declared in the previous quarter.
References in the financial tables to percentage changes that are not meaningful are denoted by "NM."