Tyson Foods 2015 Annual Report Download - page 22
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Please find page 22 of the 2015 Tyson Foods annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.ITEM 6. SELECTED FINANCIAL DATA
FIVE-YEAR FINANCIAL SUMMARY
inmillions,exceptpershare,percentageandratiodata
2015
2014
2013
2012
2011
Summary of Operations
Sales $ 41,373
$ 37,580
$ 34,374
$ 33,055
$ 32,032
Operatingincome 2,169
1,430
1,375
1,286
1,289
Netinterestexpense 284
125
138
344
231
Incomefromcontinuingoperations 1,224
856
848
614
738
Lossfromdiscontinuedoperation,netoftax —
—
(70)
(38)
(5)
Netincome 1,224
856
778
576
733
NetincomeattributabletoTyson 1,220
864
778
583
750
DilutednetincomepershareattributabletoTyson:
Incomefromcontinuingoperations 2.95
2.37
2.31
1.68
1.98
Lossfromdiscontinuedoperation —
—
(0.19)
(0.10)
(0.01)
Netincome 2.95
2.37
2.12
1.58
1.97
Dividendsdeclaredpershare:
ClassA 0.425
0.325
0.310
0.160
0.160
ClassB 0.383
0.294
0.279
0.144
0.144
Balance Sheet Data
Cashandcashequivalents $ 688
$ 438
$ 1,145
$ 1,071
$ 716
Totalassets 23,004
23,956
12,177
11,896
11,071
Totaldebt 6,725
8,178
2,408
2,432
2,182
Shareholders’equity 9,706
8,904
6,233
6,042
5,685
Other Key Financial Measures
Depreciationandamortization $ 711
$ 530
$ 519
$ 499
$ 506
Capitalexpenditures 854
632
558
690
643
EBITDA 2,906
1,897
1,818
1,731
1,767
Returnoninvestedcapital 13.4%
11.8%
18.5%
17.7%
18.5%
Effectivetaxrateforcontinuingoperations 36.3%
31.6%
32.6%
36.4%
31.6%
Totaldebttocapitalization 40.9%
47.9%
27.9%
28.7%
27.7%
Bookvaluepershare $ 23.36
$ 23.70
$ 18.13
$ 16.84
$ 15.38
Stockpricehigh 45.10
44.24
32.40
21.06
20.12
Stockpricelow 37.02
27.33
15.93
14.07
14.59
NotestoFive-YearFinancialSummary
a. Fiscal2015wasa53-weekyear,whiletheotheryearspresentedwere52-weekyears.
b. Fiscal2015includeda$169millionpretaximpairmentchargerelatedtoourChinaoperation,$57millionpretaxexpenserelatedtomergerandintegrationcosts,$59millionpretaximpairmentchargesrelated
toourPreparedFoodsnetworkoptimization,$12millionpretaxchargesrelatedtoDenisonimpairmentandplantclosurecosts,$8millionpretaxgainrelatedtonetinsuranceproceeds(netofcosts)relatedto
alegacyHillshireBrandsplantfire,$21millionpretaxgainonthesaleofequitysecurities,$161millionpretaxgainonthesaleoftheMexicooperation,$39millionpretaxgainrelatedtotheimpactofthe
additionalweekinfiscal2015and$26millionunrecognizedtaxbenefitgain.
c. Fiscal2014includeda$42millionpretaximpairmentchargeandothercostsrelatedtothesaleofourBraziloperationandMexico'sundistributedearningstax,$197millionpretaxexpenserelatedtothe
HillshireBrandsacquisition,integrationandcostsassociatedwithourPreparedFoodsimprovementplan,$40millionpretaxexpenserelatedtotheHillshireBrandspost-closingresults,purchaseprice
accounting,andcostsrelatedtoalegacyHillshireBrandsplantfire,$27millionpretaxexpenserelatedtotheHillshireBrandsacquisitionfinancingincrementalinterestcostand$52millionunrecognizedtax
benefitgain.
d. Fiscal2013includeda$19millioncurrencytranslationadjustmentgainrecognizedinconjunctionwiththereceiptofproceedsconstitutingthefinalresolutionofourinvestmentinCanada.Additionallyin
fiscal2013,wedeterminedourWeifangoperation(Weifang)wasnolongercoretotheexecutionofourstrategyinChina.InJuly2013,wecompletedthesaleofWeifang.Non-cashchargesrelatedtothe
impairmentofassetsinWeifangamountedto$56millionand$15millioninfiscal2013and2012,respectively.
e. Fiscal2012includedapretaxchargeof$167millionrelatedtotheearlyextinguishmentofdebt.
f. Fiscal2011includedan$11millionnon-operatinggainrelatedtothesaleofinterestinanequitymethodinvestmentanda$21millionreductiontoincometaxexpenserelatedtoareversalofreservesfor
foreignuncertaintaxpositions.
g. Returnoninvestedcapitaliscalculatedbydividingoperatingincomebythesumoftheaverageofbeginningandendingtotaldebtandshareholders’equitylesscashandcashequivalents.
h. Forthetotaldebttocapitalizationcalculation,capitalizationisdefinedastotaldebtplustotalshareholders’equity.
i. "EBITDA"isaNon-GAAPmeasureanddefinedasnetincomelessinterestincome,plusinterest,taxes,depreciationandamortization.AreconciliationofnetincometoEBITDAimmediatelyfollows.
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