Pepsi 2015 Annual Report Download - page 163

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Return on Invested Capital (ROIC) Growth Reconciliation
Year Ended
12/26/15
Growth
2012–2015
Reported ROIC Growth(b) (13) bps (55) bps
Impact of:
Cash, Cash Equivalents and Short-Term
Investments 68 260
Interest Income After Tax 2 4
Commodity Mark-to- Market Net Impact (11) 5
Restructuring and Impairment Charges (25) (9)
Pension- Related Settlement (Benefits)/
Charges (24) (37)
Restructuring and Other Charges Related to
the Transaction with Tingyi 16 (18)
Venezuela Impairment Charges 270 270
Venezuela Remeasurement Charges (20) (3)
Tax Benefits (51) –
Merger and Integration Charges – 13
Core Net ROIC Growth(c) 212 bps 430 bps
(b) The impact of all other reconciling items to reported ROIC round to zero.
(c) Core Net ROIC represents core net income attributable to PepsiCo plus after-tax core net
interest expense, divided by a quarterly average of invested capital less cash, cash equiva-
lents and short-term investments adjusted for non-core items.
Diluted EPS Growth Reconciliation
Year Ended Growth
12/26/15 12/27/14 12/28/13 12/29/12 2015 2014 2013
Reported Diluted EPS $ 3.67 $ 4.27 $ 4.32 $ 3.92 (14)% (1)% 10%
Commodity Mark-to- Market Net Impact – 0.03 0.03 (0.03)
Restructuring and Impairment Charges 0.12 0.21 0.08 0.14
Pension- Related Settlement (Benefits)/Charges (0.03) 0.06 – 0.08
Charges Related to the Transaction with Tingyi 0.05 – – 0.11
Venezuela Impairment Charges 0.91 – – –
Venezuela Remeasurement Charges – 0.07 0.07 –
Merger and Integration Charges – – 0.01 0.01
Tax Benefits (0.15) – (0.13) (0.14 )
Core Diluted EPS $ 4.57 $ 4.63 $ 4.37 $ 4.10 (1) 6 7
Impact of Foreign Exchange Translation 11 3 2
Core Constant Currency Diluted EPS Growth 10% 9% 9%
Total Operating Profi t Reconciliation
Year Ended
12/26/15 12/27/14 Growth
Reported Operating Profit $ 8,353 $ 9,581 (13)%
Commodity Mark-to- Market Net Impact (11) 68
Restructuring and Impairment Charges 230 418
Charge Related to the Transaction with
Tingyi 73 –
Pension- Related Settlement (Benefits)/
Charge (67) 141
Venezuela Impairment Charges 1,359 –
Venezuela Remeasurement Charges – 105
Core Operating Profit $ 9,937 $ 10,313 (4)%
Note – Certain amounts above may not sum due to rounding.
2015 ANNUAL REPORT  145