Snapple 2009 Annual Report Download - page 15
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DR PEPPER SNAPPLE GROUP, INC.
RECONCILIATION OF GAAP AND NON-GAAP INFORMATION
Twelve Months Ended December 31, 2009 and 2008
(Unaudited)
The Company reports its financial results in accordance with accounting principles generally accepted in the
United States of America (“U.S. GAAP”). However, management believes that certain non-GAAP measures that
reflect the way management evaluates the business may provide investors with additional information regarding the
company’s results, trends and ongoing performance on a comparable basis. Specifically, investors should consider
the following with respect to our year-end results:
2009 2008
Percent
Change
For the Twelve Months Ended
December 31,
Segment Results — Segment Operating Profit (“SOP”)
Beverage Concentrates ................................... $ 683 $ 622 10%
Packaged Beverages ..................................... 573 483 19%
Latin America Beverages ................................. 54 86 (37)%
Total SOP .............................................. 1,310 1,191 10%
Unallocated corporate costs ............................... 265 259
Impairment of goodwill and intangible assets .................. — 1,039
Restructuring costs...................................... — 57
Other operating expense (income), net ....................... (40) 4
Income (loss) from operations ............................... $1,085 $ (168)
Net sales and SOP, as adjusted: Net sales and SOP exclude the loss of Hansen product distribution and are on
a currency neutral basis.
Net Sales SOP
For the Twelve
Months Ended
December 31,
Percent change — 2009 vs. 2008
As reported ..................................................... (3)% 10%
Impact of loss of Hansen product distribution ........................... 4% 4%
Impact of foreign currency ......................................... 1% 3%
As adjusted ..................................................... 2% 17%
Diluted earnings per share (“EPS”) excluding certain items: Reported EPS adjusted for: 1) the net gain
related to the Hansen contract termination payment as well as the sale of assets in 2009, 2) certain separation-related
tax items in 2009 and 3) restructuring costs in 2008.
2009 2008
Percent
Change
For the Twelve Months Ended
December 31,
Reported EPS ........................................... $2.17 $(1.23) NM
Net gain on Hansen termination and sale of certain intangible assets. . (0.15) —
Impairment of goodwill and intangible assets ................... — 2.74
Restructuring costs . . .................................... — 0.14
Transaction and other one time separation costs ................. — 0.08
Bridge loan fees and expenses .............................. — 0.06
Separation-related tax items ................................ (0.05) 0.06
EPS, excluding certain items................................ $1.97 $ 1.85 6%
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