Snapple 2008 Annual Report Download - page 142

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presentation in the previously reported net sales and cost of sales captions on the Statement of Operations. The
Company did not eliminate certain intercompany net sales and cost of sales. The Company will restate its unaudited
interim Condensed Consolidated Statement of Operations on Form 10-Qs during fiscal year 2009 to reflect the
restatements shown below. These adjustments to the unaudited interim Condensed Consolidated Statements of
Operations do not affect the Company’s Condensed Consolidated Balance Sheets, Condensed Consolidated
Statements of Changes in Stockholders’ Equity, Condensed Consolidated Statements of Cash Flows, gross profit,
income from operations or net income. The quarterly net sales detailed above reflect the restatement.
The following is a summary of the effect of the correction associated with Company’s unaudited Condensed
Consolidated Statements of Operations for the interim periods of 2008 and 2007 (in millions):
2008 Net Sales Cost of Sales Net Sales Cost of Sales
As Previously Reported As Restated
Three months ended March 31 ............... $1,307 $ 577 $1,295 $ 565
Three months ended June 30 ................ 1,557 706 1,545 694
Six months ended June 30 .................. 2,864 1,283 2,840 1,259
Three months ended September 30 ............ 1,505 720 1,494 709
Nine months ended September 30............. 4,369 2,003 4,334 1,968
2007 Net Sales Cost of Sales Net Sales Cost of Sales
As Previously Reported As Restated
Three months ended March 31 ............... $1,269 $ 572 $1,257 $ 560
Three months ended June 30 ................ 1,543 693 1,529 679
Six months ended June 30 .................. 2,812 1,265 2,786 1,239
Three months ended September 30 ............ 1,535 719 1,521 705
Nine months ended September 30............. 4,347 1,984 4,307 1,944
Three months ended December 31 ............ 1,401 633 1,388 620
118
DR PEPPER SNAPPLE GROUP, INC.
NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS — (Continued)