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48
DR PEPPER SNAPPLE GROUP, INC.
CONSOLIDATED STATEMENTS OF INCOME
For the Years Ended December 31, 2012, 2011 and 2010
(in millions, except per share data)
For the
Year Ended
December 31,
2012 2011 2010
Net sales $ 5,995 $ 5,903 $ 5,636
Cost of sales 2,500 2,485 2,243
Gross profit 3,495 3,418 3,393
Selling, general and administrative expenses 2,268 2,257 2,233
Depreciation and amortization 124 126 127
Other operating expense, net 11 11 8
Income from operations 1,092 1,024 1,025
Interest expense 125 114 128
Interest income (2)(3)(3)
Loss on early extinguishment of debt —— 100
Other income, net (9)(12)(21)
Income before provision for income taxes and equity in earnings
of unconsolidated subsidiaries 978 925 821
Provision for income taxes 349 320 294
Income before equity in earnings of unconsolidated subsidiaries 629 605 527
Equity in earnings of unconsolidated subsidiaries, net of tax —1 1
Net income $ 629 $ 606 $ 528
Earnings per common share:
Basic $ 2.99 $ 2.77 $ 2.19
Diluted 2.96 2.74 2.17
Weighted average common shares outstanding:
Basic 210.6 218.7 240.4
Diluted 212.3 221.2 242.6
Cash dividends declared per common share $ 1.36 $ 1.21 $ 0.90
The accompanying notes are an integral part of these consolidated financial statements.