Snapple 2014 Annual Report Download - page 30

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27
RESULTS OF OPERATIONS
Executive Summary - 2014 Financial Overview and Recent Developments
• Net sales totaled $6,121 million for the year ended December 31, 2014, an increase of $124 million, or approximately
2%, from the year ended December 31, 2013.
• Net income for the year ended December 31, 2014 was $703 million, compared to $624 million for the year ended
December 31, 2013, an increase of $79 million, or approximately 13%.
• Diluted earnings per share was $3.56 for the year ended December 31, 2014 and $3.05 for the year ago period, an increase
of $0.51, or approximately 17%.
• During 2014, our Board declared aggregate dividends of $1.64 per share on outstanding common stock, as compared to
$1.52 per share on outstanding common stock during 2013. Dividends declared per share for the year ended December 31,
2014 increased approximately 8%.
• During the years ended December 31, 2014 and 2013, we repurchased 6.8 million and 8.7 million shares of our common
stock, respectively, valued at approximately $400 million for both years.
• On October 31, 2014, we acquired certain assets of Davis Beverage Group, Inc. and Davis Bottling Co, Inc. ("Davis")
in exchange for $19 million in cash and a $2 million holdback liability to satisfy any working capital adjustments and
applicable indemnification claims, pursuant to the terms of the purchase agreement.
• During the first quarter of 2015, our Board declared a dividend of $0.48 per share, which will be paid on April 7, 2015,
to shareholders of record as of March 16, 2015. The dividend declared during the first quarter of 2015 increased
approximately 17% compared to the dividend declared in the previous quarter.
• During the first quarter of 2015, our Board authorized the additional repurchase of an aggregate amount of $1 billion of
our outstanding common stock.
References in the financial tables to percentage changes that are not meaningful are denoted by "NM."