Tyson Foods 2009 Annual Report Download - page 57

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57
Condensed Consolidating Statement of Income for the year ended October 3, 2009
in millions
2014 Guarantors
TFI
Parent
TFM
Parent
Guar-
antors
Elimin-
ations
Subtotal
Non-
Guar-
antors
Elimin-
ations
Total
Net Sales
$
11
$
14,504
$
12,245
$
(725
)
$
26,024
$
709
$
(40
)
$
26,704
Cost of Sales
132
13,970
11,526
(725
)
24,771
638
(40
)
25,501
(121
)
534
719
-
1,253
71
-
1,203
Operating Expenses:
Selling, general and administrative
132
187
450
-
637
72
-
841
Goodwill impairment
-
560
-
-
560
-
-
560
Other charges
-
-
17
-
17
-
-
17
Operating Income (Loss)
(253
)
(213
)
252
-
39
(1
)
-
(215
)
Other (Income) Expense:
Interest expense, net
268
13
20
-
33
(8
)
-
293
Other, net
11
(3
)
(6
)
-
(9
)
16
-
18
Equity in net earnings of subsidiaries
157
(32
)
44
13
25
(17
)
(165
)
-
436
(22
)
58
13
49
(9
)
(165
)
311
Income (Loss) from Continuing Operations
before Income Taxes and Minority
Interest
(689
)
(191
)
194
(13
)
(10
)
8
165
(526
)
Income Tax Expense (Benefit)
(131
)
111
34
-
145
-
-
14
Income (Loss) from Continuing Operations
before Minority Interest
(558
)
(302
)
160
(13
)
(155
)
8
165
(540
)
Minority Interest
-
-
-
-
-
(4
)
-
(4
)
Income (Loss) from Continuing Operations
(558
)
(302
)
160
(13
)
(155
)
12
165
(536
)
Income (Loss) from Discontinued Operation
21
5
-
-
5
(27
)
-
(1
)
Net Income (Loss)
$
(537
)
$
(297
)
$
160
$
(13
)
$
(150
)
$
(15
)
$
165
$
(537
)
Condensed Consolidating Statement of Income for the year ended September 27, 2008
in millions
2014 Guarantors
TFI
Parent
TFM
Parent
Guar-
antors
Elimin-
ations
Subtotal
Non-
Guar-
antors
Elimin-
ations
Total
Net Sales
$
19
$
15,638
$
11,463
$
(811
)
$
26,290
$
580
$
(27
)
$
26,862
Cost of Sales
74
15,105
10,796
(811
)
25,090
479
(27
)
25,616
(55
)
533
667
-
1,200
101
-
1,246
Operating Expenses:
Selling, general and administrative
83
208
533
-
741
55
-
879
Other charges
1
18
17
-
35
-
-
36
Operating Income (Loss)
(139
)
307
117
-
424
46
-
331
Other (Income) Expense:
Interest expense, net
181
17
16
-
33
(8
)
-
206
Other, net
(13
)
(5
)
(11
)
-
(16
)
-
-
(29
)
Equity in net earnings of subsidiaries
(285
)
(27
)
5
18
(4
)
(9
)
298
-
(117
)
(15
)
10
18
13
(17
)
298
177
Income (Loss) from Continuing Operations
before Income Taxes
(22
)
322
107
(18
)
411
63
(298
)
154
Income Tax Expense (Benefit)
(108
)
116
37
-
153
23
-
68
Income from Continuing Operations
86
206
70
(18
)
258
40
(298
)
86
Income from Discontinued Operation
-
-
-
-
-
-
-
-
Net Income
$
86
$
206
$
70
$
(18
)
$
258
$
40
$
(298
)
$
86