Snapple 2009 Annual Report Download - page 148

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25. Selected Quarterly Financial Data (unaudited)
The following table summarizes the Company’s information on net sales, gross profit, net income and earnings
per share by quarter for the years ended December 31, 2009 and 2008. This data was derived from the Company’s
unaudited consolidated financial statements.
For periods prior to May 7, 2008, DPS’ financial data has been prepared on a “carve-out” basis from Cadbury’s
consolidated financial statements using the historical results of operations, assets and liabilities attributable to
Cadbury’s Americas Beverages business and including allocations of expenses from Cadbury. The historical
Cadbury’s Americas Beverages information is the Company’s predecessor financial information. The results
included below are not necessarily indicative of DPS’ future performance and may not reflect the Company’s
financial performance had the Company been an independent, publicly-traded company.
For the Year Ended December 31,
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
(In millions, except per share data)
2009
Net sales ................................... $ 1,260 $ 1,481 $ 1,434 $ 1,356
Gross profit ................................. 729 885 855 828
Net income ................................. 132 158 151 114
Basic earnings per common share ................. 0.52 0.62 0.59 0.45
Diluted earnings per common share ............... 0.52 0.62 0.59 0.44
Dividend declared per share ..................... 0.00 0.00 0.00 0.15
Common stock price
High .................................... 17.87 23.21 28.75 30.09
Low..................................... 11.90 17.40 21.65 26.19
2008
Net sales ................................... $ 1,295 $ 1,545 $ 1,494 $ 1,376
Gross profit ................................. 730 851 785 754
Net income ................................. 95 108 106 (621)
Basic earnings per common share(2) ............... 0.38 0.42 0.41 (2.44)
Diluted earnings per common share(2) ............. 0.38 0.42 0.41 (2.44)
Dividend declared per share ..................... 0.00 0.00 0.00 0.00
Common stock price(1)
High .................................... N/A 26.50 26.52 26.13
Low..................................... N/A 20.98 20.18 13.78
(1) No common stock of DPS was traded prior to May 7, 2008, and no DPS equity awards were outstanding for the
prior periods. As of May 7, 2008, the number of basic shares includes approximately 500,000 shares related to
former Cadbury benefit plans converted to DPS shares on a daily volume weighted average.
(2) In connection with the separation from Cadbury on May 7, 2008, DPS distributed to Cadbury shareholders the
common stock of DPS. On the date of the distribution 253.7 million shares of common stock were issued. As a
result, on May 7, 2008, the Company had 253.7 million shares of common stock outstanding and this share
amount is being utilized for the calculation of basic earnings per common share for all periods presented prior to
the date of the Distribution. The same number of shares is being used for diluted earnings per common share as
for basic earnings per common share as no common stock of DPS was traded prior to May 7, 2008, and no DPS
equity awards were outstanding for the prior periods.
128
DR PEPPER SNAPPLE GROUP, INC.
NOTES TO AUDITED CONSOLIDATED FINANCIAL STATEMENTS — (Continued)