Snapple 2009 Annual Report Download - page 48

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• During the fourth quarter of 2009, the Company’s Board of Directors (the “Board”) declared DPS’ first
dividend of $0.15 per share, payable in the first quarter of 2010. Subsequent to December 31, 2009, the
Board declared another dividend of $0.15 per share, payable in the second quarter of 2010.
• During the fourth quarter of 2009, the Board authorized the repurchase of up to $200 million of the
Company’s outstanding common stock. Subsequent to December 31, 2009, the Board authorized the
repurchase of an additional $800 million of the Company’s outstanding common stock, for a total of
$1 billion authorized.
• DPS agreed to license certain brands to PepsiCo as a result of PepsiCo’s acquisitions of PBG and
PepsiAmericas, Inc in February 2010. As part of the transaction, DPS received a one-time cash payment
of $900 million, which will be recorded as deferred revenue in 2010 and recognized as net sales ratably over
the estimated 25-year life of the customer relationship.
• DPS completed the issuance of $850 million aggregate principal amount of senior unsecured notes
consisting of $400 million of 1.70% senior notes (the “2011 Notes”) and $450 million of 2.35% senior
notes (the “2012 Notes”) due December 21, 2011 and December 21, 2012, respectively. Proceeds from the
issuance, as well as funds from the revolving credit facility (the “Revolver”), were used to make optional
repayments of $1,805 million, which represented the remaining principal balance on the senior unsecured
term loan A (“Term Loan A”) for the year ended December 31, 2009.
• Subsequent to December 31, 2009, the Company made optional repayments of $405 million, which
represented the outstanding principal balance on the Revolver as of December 31, 2009.
For the periods prior to May 7, 2008, our consolidated financial statements have been prepared on a “carve-
out” basis from Cadbury’s consolidated financial statements using 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. We
eliminate from our financial results all intercompany transactions between entities included in the combination and
the intercompany transactions with our equity method investees. On May 7, 2008, we became an independent
company.
References in the financial tables to percentage changes that are not meaningful are denoted by “NM.”
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