Pepsi 2014 Annual Report Download - page 87

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67
Consolidated Statement of Income
PepsiCo, Inc. and Subsidiaries
Fiscal years ended December 27, 2014, December 28, 2013 and December 29, 2012
(in millions except per share amounts)
2014 2013 2012
Net Revenue $ 66,683 $ 66,415 $ 65,492
Cost of sales 30,884 31,243 31,291
Gross profit 35,799 35,172 34,201
Selling, general and administrative expenses 26,126 25,357 24,970
Amortization of intangible assets 92 110 119
Operating Profit 9,581 9,705 9,112
Interest expense (909) (911) (899)
Interest income and other 85 97 91
Income before income taxes 8,757 8,891 8,304
Provision for income taxes 2,199 2,104 2,090
Net income 6,558 6,787 6,214
Less: Net income attributable to noncontrolling interests 45 47 36
Net Income Attributable to PepsiCo $ 6,513 $ 6,740 $ 6,178
Net Income Attributable to PepsiCo per Common Share
Basic $ 4.31 $ 4.37 $ 3.96
Diluted $ 4.27 $ 4.32 $ 3.92
Weighted-average common shares outstanding
Basic 1,509 1,541 1,557
Diluted 1,527 1,560 1,575
Cash dividends declared per common share $ 2.5325 $ 2.24 $ 2.1275
See accompanying notes to the consolidated financial statements.