Snapple 2009 Annual Report Download - page 140
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Parent Guarantors Non-Guarantors Eliminations Total
Condensed Consolidating Statement of Operations
For the Year Ended December 31, 2008
(In millions)
Net sales .......................... $ — $ 5,137 $ 587 $ (14) $ 5,710
Cost of sales ....................... — 2,348 256 (14) 2,590
Gross profit ...................... — 2,789 331 — 3,120
Selling, general and administrative
expenses ........................ — 1,875 200 — 2,075
Depreciation and amortization .......... — 105 8 — 113
Impairment of goodwill and intangible
assets ........................... — 1,039 — — 1,039
Restructuring costs ................... — 55 2 — 57
Other operating expense (income)........ — 6 (2) — 4
(Loss) income from operations ........ — (291) 123 — (168)
Interest expense ..................... 192 321 — (256) 257
Interest income ..................... (132) (148) (8) 256 (32)
Other (income) expense ............... (19) — 1 — (18)
(Loss) income before provision for
income taxes and equity in earnings of
subsidiaries..................... (41) (464) 130 — (375)
Provision for income taxes ............. (24) (78) 41 — (61)
(Loss) income before equity in earnings
of subsidiaries .................. (17) (386) 89 — (314)
Equity in (loss) earnings of consolidated
subsidiaries ...................... (414) 65 — 349 —
Equity in earnings of unconsolidated
subsidiaries, net of tax .............. — — 2 — 2
Net (loss) income.................... $ (431) $ (321) $ 91 $ 349 $ (312)
120
DR PEPPER SNAPPLE GROUP, INC.
NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS — (Continued)