Pepsi 2015 Annual Report Download - page 54

Download and view the complete annual report

Please find page 54 of the 2015 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 168

  • 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
  • 167
  • 168

Table of Contents
37
(h) In 2015, we recognized a non-cash tax benefit of $230 million ($0.15 per share) associated with our agreement with the IRS resolving
substantially all open matters related to the audits for taxable years 2010 through 2011, which reduced our reserve for uncertain tax positions
for the tax years 2010 through 2011.
(i) In 2015, we recognized pre-tax impairment charges of $76 million ($48 million after-tax or $0.03 per share) in the QFNA segment associated
with our MQD joint venture investment, including a fourth quarter charge related to ceasing its operations.
(j) In 2015, we recognized a pre-tax gain of $39 million ($28 million after-tax or $0.02 per share) in the AMENA segment associated with
refranchising a portion of our beverage businesses in India.
(k) In 2015 and 2014, we recorded charges of $90 million ($66 million after-tax or $0.04 per share) and $67 million ($54 million after-tax or
$0.04 per share), respectively, related to other productivity initiatives outside the scope of the 2014 and 2012 Productivity Plans. See Note
3 to our consolidated financial statements.
(l) In 2014, we recorded a pre-tax gain of $31 million ($34 million after-tax or $0.02 per share) in the ESSA segment associated with the sale
of agricultural assets in Russia.
(m) Reflects the quarterly composite high and low sales prices for one share of PepsiCo common stock as reported on the New York Stock
Exchange.