Pepsi 2014 Annual Report Download - page 132

Download and view the complete annual report

Please find page 132 of the 2014 Pepsi 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.

Page out of 166

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166

112
The following table summarizes other supplemental information:
2014 2013 2012
Other supplemental information
Rent expense $ 707 $ 639 $ 581
Interest paid $ 925 $ 1,007 $ 1,074
Income taxes paid, net of refunds $ 1,847 $ 3,076 $ 1,840
Note 15 — Acquisitions and Divestitures
Tingyi-Asahi Beverages Holding Co. Ltd.
On March 31, 2012, we completed a transaction with Tingyi. Under the terms of the agreement, we contributed
our Company-owned and joint venture bottling operations in China to Tingyi’s beverage subsidiary, Tingyi-
Asahi Beverages Holding Co. Ltd. (TAB), and received as consideration a 5% indirect equity interest in
TAB. As a result of this transaction, TAB is now our franchise bottler in China. We also have a call option
to increase our indirect holding in TAB to 20% by the fourth quarter of 2015. We recorded restructuring and
other charges of $150 million ($176 million after-tax or $0.11 per share), primarily consisting of employee-
related charges, in our 2012 results. This charge is reflected in items affecting comparability. See additional
unaudited information in “Items Affecting Comparability” in Management’s Discussion and Analysis of
Financial Condition and Results of Operations.
Suntory Holdings Limited
During our second quarter of 2013, as part of the refranchising of our beverage business in Vietnam, we
completed a transaction with Suntory Holdings Limited. Under the terms of the agreement, we sold a
controlling interest in our Vietnam bottling operations. The alliance serves as the franchise bottler for both
companies. As a result of this transaction, we recorded a pre- and after-tax gain of $137 million (or $0.09
per share) in our 2013 results.
Table of Contents