Tyson Foods 2008 Annual Report Download - page 2

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2008 FINANCIAL HIGHLIGHTS
in millions, except per share data 2008 2007 2006
Sales $26,862 $25,729 $24,589
Gross profi t 1,246 1,429 950
Operating income (loss) 331 613 (50)
Income tax expense (benefi t) 68 142 (94)
Loss from discontinued operation, net of tax – – (17)
Cumulative effect of change in accounting
principle, net of tax – – (5)
Net income (loss) 86 268 (196)
Diluted earnings (loss) per share 0.24 0.75 (0.58)
Total assets 10,850 10,227 11,121
Total debt 2,896 2,779 3,979*
Shareholders’ equity 5,014 4,731 4,440
Book value per share 13.28 13.31 12.51
Cash provided by operating activities 288 678 372
Depreciation and amortization 493 514 517
Capital expenditures $ 425 $ 285 $ 531
Year end shares outstanding 377 356 355
Diluted average shares outstanding 356 355 345
* Total debt was $3.2 billion in 2006 when adjusted for a $750 million short-term investment held on deposit for payment of Notes due the fi rst day of
fi scal 2007.
ABOUT TYSON
Tyson Foods, Inc. [NYSE: TSN], founded in 1935 with headquarters in Springdale, Arkansas, is the world’s
largest processor and marketer of chicken, beef and pork, the second-largest food production company in
the Fortune 500 and a member of the S&P 500. The Company produces a wide variety of protein-based and
prepared food products and is the recognized market leader in the retail and foodservice markets it serves.
Tyson provides products and service to customers throughout the United States and more than 90 countries.
The Company has approximately 107,000 team members employed at more than 300 facilities and offi ces in
the United States and around the world. Through its Core Values, Code of Conduct and Team Member Bill of
Rights, Tyson strives to operate with integrity and trust and is committed to creating value for its shareholders,
customers and team members. The Company also strives to be faith-friendly, provide a safe work environment
and serve as stewards of the animals, land and environment entrusted to it.
CONTENTS
1 Letter to Shareholders
2 The Strategic Difference
Q&A with President and CEO
Richard L. Bond
4 The Creative Difference
Tyson is fi nding innovative ways to
convert non-prime products into
fuel, pet food products and other
high-margin commercial products.
7 The Global Difference
Tyson has made signifi cant
progress toward building a
multinational enterprise by
moving into Brazil and India and
expanding operations in China.
9 Financial Table of Contents