Tyson Foods 2009 Annual Report Download - page 58

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58
Condensed Consolidating Statement of Income for the year ended September 29, 2007
in millions
2014 Guarantors
TFI
Parent
TFM
Parent
Guar-
antors
Elimin-
ations
Subtotal
Non-
Guar-
antors
Elimin-
ations
Total
Net Sales
$
154
$
15,189
$
10,793
$
(736
)
$
25,246
$
482
$
(153
)
$
25,729
Cost of Sales
(90
)
14,849
10,040
(736
)
24,153
390
(153
)
24,300
244
340
753
-
1,093
92
-
1,429
Operating Expenses:
Selling, general and administrative
104
176
483
-
659
51
-
814
Other charges
1
1
-
-
1
-
-
2
Operating Income
139
163
270
-
433
41
-
613
Other (Income) Expense:
Interest expense, net
186
29
18
-
47
(9
)
-
224
Other, net
(1
)
(24
)
(8
)
-
(32
)
12
-
(21
)
Equity in net earnings of subsidiaries
(285
)
(94
)
(9
)
77
(26
)
(18
)
329
-
(100
)
(89
)
1
77
(11
)
(15
)
329
203
Income from Continuing Operations before
Income Taxes
239
252
269
(77
)
444
56
(329
)
410
Income Tax Expense (Benefit)
(29
)
53
110
-
163
8
-
142
Income from Continuing Operations
268
199
159
(77
)
281
48
(329
)
268
Income from Discontinued Operation
-
-
-
-
-
-
-
-
Net Income
$
268
$
199
$
159
$
(77
)
$
281
$
48
$
(329
)
$
268
Condensed Consolidating Balance Sheet as of October 3, 2009
in millions
2014 Guarantors
TFI
Parent
TFM
Parent
Guar-
antors
Elimin-
ations
Subtotal
Non-
Guar-
antors
Elimin-
ations
Total
Assets
Current Assets:
Cash and cash equivalents
$
-
$
-
$
788
$
-
$
788
$
216
$
-
$
1,004
Restricted cash
-
-
140
-
140
-
-
140
Accounts receivable, net
2
418
3,309
(7
)
3,720
116
(2,738
)
1,100
Inventories, net
1
586
1,239
-
1,825
183
-
2,009
Other current assets
198
89
29
(17
)
101
36
(213
)
122
Total Current Assets
201
1,093
5,505
(24
)
6,574
551
(2,951
)
4,375
Restricted cash
-
-
-
-
-
43
-
43
Net Property, Plant and Equipment
40
883
2,256
-
3,139
397
-
3,576
Goodwill
-
881
977
-
1,858
59
-
1,917
Intangible Assets
-
42
59
-
101
86
-
187
Other Assets
211
120
37
-
157
346
(217
)
497
Investment in Subsidiaries
10,038
1,763
674
(1,597
)
840
296
(11,174
)
-
Total Assets
$
10,490
$
4,782
$
9,508
$
(1,621
)
$
12,669
$
1,778
$
(14,342
)
$
10,595
Liabilities and Shareholders’ Equity
Current Liabilities:
Current debt
$
3
$
140
$
-
$
-
$
140
$
76
$
-
$
219
Trade accounts payable
15
375
550
-
925
73
-
1,013
Other current liabilities
2,790
251
296
(24
)
523
399
(2,951
)
761
Total Current Liabilities
2,808
766
846
(24
)
1,588
548
(2,951
)
1,993
Long-Term Debt
3,187
15
180
-
195
131
(180
)
3,333
Deferred Income Taxes
-
108
182
-
290
27
(37
)
280
Other Liabilities
143
161
202
-
363
33
-
539
Minority Interest
-
-
-
-
-
98
-
98
Shareholders’ Equity
4,352
3,732
8,098
(1,597
)
10,233
941
(11,174
)
4,352
Total Liabilities and Shareholders’ Equity
$
10,490
$
4,782
$
9,508
$
(1,621
)
$
12,669
$
1,778
$
(14,342
)
$
10,595