Tyson Foods 2015 Annual Report Download - page 87
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Please find page 87 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.NOTE 21: QUARTERLY FINANCIAL DATA (UNAUDITED)
inmillions,exceptpersharedata
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
2015
Sales
$ 10,817
$ 9,979
$ 10,071
$ 10,506
Grossprofit
956
989
986
986
Operatingincome
509
547
563
550
Netincome
310
311
344
259
NetincomeattributabletoTyson
309
310
343
258
NetincomepershareattributabletoTyson:
ClassABasic
$ 0.77
$ 0.78
$ 0.86
$ 0.65
ClassBBasic
$ 0.71
$ 0.71
$ 0.78
$ 0.59
Diluted
$ 0.74
$ 0.75
$ 0.83
$ 0.63
2014
Sales
$ 8,761
$ 9,032
$ 9,682
$ 10,105
Grossprofit
685
651
637
712
Operatingincome
412
361
351
306
Netincome
252
210
258
136
NetincomeattributabletoTyson
254
213
260
137
NetincomepershareattributabletoTyson:
ClassABasic(a)
$ 0.76
$ 0.64
$ 0.75
$ 0.37
ClassBBasic
$ 0.68
$ 0.58
$ 0.68
$ 0.32
Diluted(a)
$ 0.72
$ 0.60
$ 0.73
$ 0.35
(a)ThesumofthequarterlyearningspershareamountswillnotequalthetotalfortheyearduetotheeffectsofroundinganddilutionimpactasaresultofissuingClassA
sharesandtangibleequityunitsinthefourthquarteroffiscal2014.
Firstquarterfiscal2015netincomeincluded$19millionpretaxexpenserelatedtomergerandintegration,$36millionpretaxlossduetocostsrelatedtoalegacy
HillshireBrandsplantfireanda$26millionunrecognizedtaxbenefitgain.
Secondquarterfiscal2015netincomeincluded$14millionpretaxexpenserelatedtomergerandintegrationand$8millionpretaxgainduetoinsuranceproceeds
(netofcosts)relatedtoalegacyHillshireBrandsplantfire.
Thirdquarterfiscal2015netincomeincluded$16millionpretaxexpenserelatedtomergerandintegration,$11millionpretaxgainsduetoinsuranceproceeds(net
ofcosts)relatedtoalegacyHillshireBrandsplantfireand$21millionpretaxgainsonsaleofequitysecurities.
Fourthquarterfiscal2015netincomeincluded$8millionpretaxexpenserelatedtomergerandintegration,$25millionpretaxgainsduetoinsuranceproceeds
relatedtoalegacyHillshireBrandsplantfire,$169millionpretaxChinaimpairmentcharge,$59millionpretaximpairmentchargesrelatedtoourPreparedFoods
networkoptimization,$12millionpretaxclosureandimpairmentchargesrelatedtotheDenisonplantclosure,$161millionpretaxgainonthesaleoftheMexico
operationand$39millionpretaxgainrelatedtoouraccountingcycleresultingina53-weekyearinfiscal2015.
Thirdquarterfiscal2014netincomeincluded$29millionofpretaxexpenserelatedtotheHillshireBrandsacquisitionfeespaidtothirdparties,$49millionof
pretaxexpenserelatedtotheclosureofthreePreparedFoodsfacilitiesanda$40millionunrecognizedtaxbenefitgain.
Fourthquarterfiscal2014netincomeincludeda$42millionpretaximpairmentandothercostsrelatedtothesaleofourBraziloperationandMexico's
undistributedearningstax,$119millionpretaxexpenserelatedtotheHillshireBrandsacquisition,integrationandcostsassociatedwithourPreparedFoods
improvementplan,$40millionpretaxexpenserelatedtotheHillshireBrandspost-closingresults,purchasepriceaccountingadjustmentsandongoingcostsrelated
toalegacyHillshireBrandsplantfire,$27millionpretaxexpenserelatedtotheHillshireBrandsacquisitionfinancingincrementalinterestcostanda$12million
unrecognizedtaxbenefitgain.
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