Tyson Foods 2004 Annual Report Download - page 2

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Tyson Foods, Inc., founded in 1935 with headquarters in Springdale, Arkansas, is the world’s
largest processor and marketer of chicken, beef and pork and the second-largest food
company in the Fortune 500. The Company produces a wide variety of protein-based
and prepared food products, which are marketed under the “Powered by Tyson™”
strategy. Tyson is the recognized market leader in the retail and foodservice markets it
serves, providing products and service to customers throughout the United States and
more than 80 countries. Tyson has approximately 114,000 Team Members employed at
300 facilities and offices in 27 states and 20 countries.
Our vision is to be the world’s first choice for protein solutions while maximizing
shareholder value.
CONTENTS
02 Letter to Shareholders
06 Consumers Tyson’s protein-packed
products give people the energy to do
the things they have to do and the
things they want to do.
08 Food Service For customers from
the smallest to the largest, the
Tyson brand means one company
supplying chicken, beef, pork and
prepared foods.
10 Retail Tyson developed nearly 100
new retail products including new
versions of old favorites.
12 International Tyson Foods is
expanding our international business
by diversifying our customer base
through exports, in-country presence
and joint ventures.
14 Team Members Team members
power Tyson Foods, and Tyson
powers the world.
16 Communities Our team members
make a huge impact on communities
throughout the United States through
public service and volunteerism.
17 Financials
Robert L. Peterson 1932-2004 Bob Peterson, a legendary figure in the protein industry,
built the former IBP, inc. into the world leader in the beef and pork industries. He served as
chairman and chief executive officer for more than 20 years until Tyson Foods acquired IBP
in September 2001. Bob remained active in the new company, serving on the Tyson Foods
Board of Directors until he retired in November 2003. “Bob was a giant in our industry, and
a key figure in IBP’s rise to greatness,” Chairman and CEO John Tyson said. “His vision and
dedication helped IBP grow from its roots as a small regional company to the world’s
largest producer of beef and pork.”
2004 FINANCIAL HIGHLIGHTS
TYSON FOODS, INC. 2004 ANNUAL REPORT
in millions, except per share data 2004 2003 2002
Sales $26,441 $24,549 $23,367
Gross profit 1,891 1,744 1,817
Operating income 925 837 887
Income before income taxes 635 523 593
Provision for income taxes 232 186 210
Net income 403 337 383
Diluted earnings per share 1.13 0.96 1.08
Shareholders’ equity 4,292 3,954 3,662
Book value per share 12.19 11.21 10.37
Total assets 10,464 10,486 10,372
Depreciation and amortization 490 458 467
Total debt 3,362 3,604 3,987
Cash provided by operating activities 932 820 1,174
Capital expenditures $ 486 $ 402 $ 433
Year end shares outstanding 353 353 353
Diluted average shares outstanding 357 352 355