Snapple 2012 Annual Report Download - page 57

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Common Stock Repurchases
During 2009, 2010 and 2011, our Board authorized the repurchase of up to $3,000 million of the Company's outstanding
common stock. For the years ended December 31, 2012 and 2011, the Company repurchased and retired 9.5 million and 14 million
shares of common stock, respectively, valued at approximately $400 million and $522 million, respectively. Refer to Part II, Item 5
"Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchase of Equity Securities" of this Annual
Report on Form 10-K for additional information regarding these repurchases.
Contractual Commitments and Obligations
We enter into various contractual obligations that impact, or could impact, our liquidity. The following table summarizes our
contractual obligations and contingencies as of December 31, 2012. Based on our current and anticipated level of operations, we
believe that our proceeds from operating cash flows will be sufficient to meet our anticipated obligations. To the extent that our
operating cash flows are not sufficient to meet our liquidity needs, we may utilize cash on hand or amounts available under our
financing arrangements, if necessary. Refer to Note 8 of the Notes to our Audited Consolidated Financial Statements for additional
information regarding the senior unsecured notes payments described in this table.
Payments Due in Year
Total 2013 2014 2015 2016 2017 After
2017
Senior unsecured notes(1) $ 2,724 $ 250 $ — $ — $ 500 $ — $ 1,974
Capital leases(2) 856666655
Operating leases(3) 256 56 48 39 30 23 60
Purchase obligations(4) 597 461 81 25 13 12 5
Interest payments(5) 990 108 101 102 96 92 491
Payable to 105 7 7 7 7 7 70
Total $ 4,757 $ 888 $ 243 $ 179 $ 652 $ 140 $ 2,655
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(1) Amounts represent payment for the senior unsecured notes issued by us. Please refer to Note 8 of the Notes to our Audited
Consolidated Financial Statements for further information.
(2) Amounts represent our contractual payment obligations for our lease arrangements classified as a capital lease.
(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 our estimated interest payments based on specified interest rates for fixed rate debt and debt amortization
schedules.
In accordance with U.S. GAAP, we had $574 million of non-current unrecognized tax benefits, related interest and penalties
as of December 31, 2012 classified as a long-term liability. The table above does not reflect any payments related to these amounts
where it is not possible to make a reasonable estimate of the amount or timing of the payment.
The total accrued benefit liability representing the underfunded position for pension and other postretirement benefit plans
recognized as of December 31, 2012 was approximately $56 million. Refer to Note 12 of the Notes to our Audited Consolidated
Financial Statements. This amount is impacted by, among other items, funding levels, plan amendments, changes in plan
assumptions and the investment return on plan assets. We did not include estimated payments related to our total accrued benefit
liability in the table above.
The Pension Protection Act of 2006 was enacted in August 2006 and established, among other things, new standards for
funding of U.S. defined benefit pension plans. We generally expect to fund all future contributions with cash flows from operating
activities. Our international pension plans are generally funded in accordance with local laws and income tax regulations. Refer
to Note 12 of the Notes to our Audited Consolidated Financial Statements. We did not include our estimated contributions to our
various single employer plans in the table above.