Tyson Foods 2013 Annual Report Download - page 77

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77
Condensed Consolidating Statement of Income and Comprehensive Income for the year ended September 29, 2012 in millions
TFI
Parent TFM
Parent Non-
Guarantors Eliminations Total
Sales $ 352 $ 18,832 $ 15,152 $ (1,281) $ 33,055
Cost of Sales (4) 18,088 14,061 (1,280) 30,865
Gross Profit 356 744 1,091 (1) 2,190
Selling, General and Administrative 59 205 641 (1) 904
Operating Income 297 539 450 — 1,286
Other (Income) Expense:
Interest expense, net 49 143 152 — 344
Other, net 1 — (24) — (23)
Equity in net earnings of subsidiaries (427) (43) — 470 —
Total Other (Income) Expense (377) 100 128 470 321
Income from Continuing Operations before Income Taxes 674 439 322 (470) 965
Income Tax Expense 91 130 130 — 351
Income from Continuing Operations 583 309 192 (470) 614
Loss from Discontinued Operation, Net of Tax — — (38) — (38)
Net Income 583 309 154 (470) 576
Less: Net Loss Attributable to Noncontrolling Interests — — (7) — (7)
Net Income Attributable to Tyson $ 583 $ 309 $ 161 $ (470) $ 583
Comprehensive Income (Loss) $ 599 $ 324 $ 166 $ (497) $ 592
Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interests — — (7) — (7)
Comprehensive Income (Loss) Attributable to Tyson $ 599 $ 324 $ 173 $ (497) $ 599
Condensed Consolidating Statement of Income and Comprehensive Income for the year ended October 1, 2011 in millions
TFI
Parent TFM
Parent Non-
Guarantors Eliminations Total
Sales $ 157 $ 18,636 $ 14,466 $ (1,227) $ 32,032
Cost of Sales 29 17,461 13,574 (1,227) 29,837
Gross Profit 128 1,175 892 — 2,195
Selling, General and Administrative 52 215 639 — 906
Operating Income 76 960 253 — 1,289
Other (Income) Expense:
Interest expense, net (26) 148 109 — 231
Other, net (9) — (11) — (20)
Equity in net earnings of subsidiaries (673) (115) — 788 —
Total Other (Income) Expense (708) 33 98 788 211
Income from Continuing Operations before Income Taxes 784 927 155 (788) 1,078
Income Tax Expense 34 272 34 — 340
Income from Continuing Operations 750 655 121 (788) 738
Loss from Discontinued Operation, Net of Tax — — (5) — (5)
Net Income 750 655 116 (788) 733
Less: Net Loss Attributable to Noncontrolling Interests — — (17) — (17)
Net Income Attributable to Tyson $ 750 $ 655 $ 133 $ (788) $ 750
Comprehensive Income (Loss) $ 671 $ 606 $ 77 $ (700) $ 654
Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interests — — (17) — (17)
Comprehensive Income (Loss) Attributable to Tyson $ 671 $ 606 $ 94 $ (700) $ 671