Snapple 2009 Annual Report Download - page 42

ITEM 6. SELECTED FINANCIAL DATA
The following table presents selected historical financial data as of December 31, 2009, 2008, 2007, 2006 and
January 1, 2006 (the last day of fiscal 2005). All the selected historical financial data has been derived from our
Audited Consolidated Financial Statements and is stated in millions of dollars except for per share information.
For periods prior to May 7, 2008, our financial data have 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 our predecessor financial information. The results included below
and elsewhere in this document are not necessarily indicative of our future performance and do not reflect our
financial performance had we been an independent, publicly-traded company during the periods prior to May 7,
2008. You should read this information along with the information included in Item 7, “Management’s Discussion
and Analysis of Financial Condition and Results of Operations,” and our Audited Consolidated Financial
Statements and the related notes thereto included elsewhere in this Annual Report on Form 10-K.
We made three bottler acquisitions in 2006 and one bottler acquisition in 2007. Each of these four acquisitions
is included in our consolidated financial statements beginning on its date of acquisition. As a result, our financial
data is not comparable on a period-to-period basis.
2009 2008 2007 2006 2005
Fiscal Year
Statements of Operations Data:
Net sales ............................. $ 5,531 $ 5,710 $ 5,695 $ 4,700 $ 3,205
Gross profit ........................... 3,297 3,120 3,131 2,741 2,085
Income (loss) from operations(1)............ 1,085 (168) 1,004 1,018 906
Net income (loss)(1) ..................... $ 555 $ (312) $ 497 $ 510 $ 477
Basic earnings (loss) per share(2) ........... $ 2.18 $ (1.23) $ 1.96 $ 2.01 $ 1.88
Diluted earnings (loss) per share(2) .......... $ 2.17 $ (1.23) $ 1.96 $ 2.01 $ 1.88
Dividends declared per share .............. $ 0.15 $ — $ — $ — $ —
Balance Sheet Data:
Total assets ........................... $ 8,776 $ 8,638 $ 10,528 $ 9,346 $ 7,433
Current portion of long-term obligations ...... — — 126 708 404
Long-term obligations.................... 2,960 3,522 2,912 3,084 2,858
Other non-current liabilities ............... 1,775 1,708 1,460 1,321 1,013
Total stockholders’ equity ................. 3,187 2,607 5,021 3,250 2,426
Statements of Cash Flows:
Cash provided by (used in):
Operating activities .................... $ 865 $ 709 $ 603 $ 581 $ 583
Investing activities .................... (251) 1,074 (1,087) (502) 283
Financing activities .................... (554) (1,625) 515 (72) (815)
(1) The 2008 loss from operations and net loss reflect non-cash impairment charges of $1,039 million and
$696 million ($1,039 million net of tax benefit of $343 million), respectively. Refer to Note 7 of the Notes to our
Audited Consolidated Financial Statements for further information.
(2) Earnings (loss) per share (“EPS”) are computed by dividing net income (loss) by the weighted average number
of common shares outstanding for the period. For all periods prior to May 7, 2008, the number of basic shares
used is the number of shares outstanding on May 7, 2008, as no common stock of DPS was traded prior to
May 7, 2008 and no DPS equity awards were outstanding for the prior periods. Subsequent to May 7, 2008, the
number of basic shares includes approximately 500,000 shares related to former Cadbury Schweppes benefit
plans converted to DPS shares on a daily volume weighted average.
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