Pepsi 2015 Annual Report Download - page 90

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Table of Contents
73
Consolidated Statement of Income
PepsiCo, Inc. and Subsidiaries
Fiscal years ended December 26, 2015, December 27, 2014 and December 28, 2013
(in millions except per share amounts)
2015 2014 2013
Net Revenue $ 63,056 $ 66,683 $ 66,415
Cost of sales 28,384 30,884 31,243
Gross profit 34,672 35,799 35,172
Selling, general and administrative expenses 24,885 26,126 25,357
Venezuela impairment charges 1,359 ——
Amortization of intangible assets 75 92 110
Operating Profit 8,353 9,581 9,705
Interest expense (970) (909) (911)
Interest income and other 59 85 97
Income before income taxes 7,442 8,757 8,891
Provision for income taxes 1,941 2,199 2,104
Net income 5,501 6,558 6,787
Less: Net income attributable to noncontrolling interests 49 45 47
Net Income Attributable to PepsiCo $ 5,452 $ 6,513 $ 6,740
Net Income Attributable to PepsiCo per Common Share
Basic $ 3.71 $ 4.31 $ 4.37
Diluted $ 3.67 $ 4.27 $ 4.32
Weighted-average common shares outstanding
Basic 1,469 1,509 1,541
Diluted 1,485 1,527 1,560
Cash dividends declared per common share $ 2.7625 $ 2.5325 $ 2.24
See accompanying notes to the consolidated financial statements.