Pepsi 2012 Annual Report Download - page 75

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Consolidated Statement of Equity PepsiCo, Inc. and Subsidiaries
Fiscal years ended December29, 2012, December31, 2011
and December25, 2010
(in millions)
2012 2011 2010
Shares Amount Shares Amount Shares Amount
Preferred Stock 0.8 $ 41 0.8 $ 41 0.8 $ 41
Repurchased Preferred Stock
Balance, beginning of year (0.6) (157) (0.6) (150) (0.6) (145)
Redemptions – (7) – (7) – (5)
Balance, end of year (0.6) (164) (0.6) (157) (0.6) (150)
Common Stock
Balance, beginning of year 1,565 26 1,582 26 1,566 26
Repurchased common stock (21) – (17) – (67) (1)
Shares issued in connection with our acquisitions of
PBG and PAS – – – – 83 1
Balance, end of year 1,544 26 1,565 26 1,582 26
Capital in Excess of Par Value
Balance, beginning of year 4,461 4,527 250
Stock-based compensation expense 278 326 299
Stock option exercises/RSUs converted(a) (431) (361) (500)
Withholding tax on RSUs converted (70) (56) (68)
Equity issued in connection with our acquisitions of
PBG and PAS – – 4,451
Other (60) 25 95
Balance, end of year 4,178 4,461 4,527
Retained Earnings
Balance, beginning of year 40,316 37,090 33,805
Net income attributable to PepsiCo 6,178 6,443 6,320
Cash dividends declared —  common (3,312) (3,192) (3,028)
Cash dividends declared —  preferred (1) (1) (1)
Cash dividends declared —  RSUs (23) (24) (12)
Other – – 6
Balance, end of year 43,158 40,316 37,090
Accumulated Other Comprehensive Loss
Balance, beginning of year (6,229) (3,630) (3,794)
Currency translation adjustment 742 (1,529) 312
Cash flow hedges, net of tax:
Net derivative losses (40) (83) (46)
Reclassification of net losses to net income 58 9 50
Pension and retiree medical, net of tax:
Net pension and retiree medical losses (493) (1,110) (280)
Reclassification of net losses to net income 421 133 166
Unrealized gains/(losses) on securities, net of tax 18 (8) 23
Other 36 (11) (61)
Balance, end of year (5,487) (6,229) (3,630)
Repurchased Common Stock
Balance, beginning of year (301) (17,870) (284) (16,740) (217) (13,379)
Share repurchases (47) (3,219) (39) (2,489) (76) (4,977)
Stock option exercises 24 1,488 20 1,251 24 1,487
Other 2 143 2 108 (15) 129
Balance, end of year (322) (19,458) (301) (17,870 ) (284) (16,740)
Total PepsiCo Common Shareholders’ Equity 22,417 20,704 21,273
Noncontrolling Interests
Balance, beginning of year 311 312 638
Net income attributable to noncontrolling interests 36 19 18
Distributions to noncontrolling interests, net (37) (24) (6)
Currency translation adjustment (5) 65 (13)
Acquisitions and divestitures (200) (57) (326)
Other, net – (4) 1
Balance, end of year 105 311 312
Total Equity $ 22,399 $ 20,899 $ 21,476
(a) Includes total tax benefits of $84million in 2012, $43million in 2011 and $75million in 2010.
See accompanying notes to consolidated financial statements.
2012 PEPSICO ANNUAL REPORT 73