Snapple 2009 Annual Report Download - page 58
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2008 2007
For the Year Ended
December 31,
SOP
Beverage Concentrates .......................................... $ 622 $ 608
Packaged Beverages ............................................ 483 564
Latin America Beverages ........................................ 86 96
Total SOP ................................................ 1,191 1,268
Unallocated corporate costs ....................................... 259 253
Impairment of goodwill and intangible assets.......................... 1,039 6
Restructuring costs ............................................. 57 76
Other operating expense (income) .................................. 4 (71)
(Loss) income from operations ..................................... (168) 1,004
Interest expense, net .......................................... (225) (189)
Other income (expense) ........................................ 18 2
(Loss) income before provision for income taxes and equity in earnings of
unconsolidated subsidiaries ...................................... $ (375) $ 817
Beverage Concentrates
The following table details our Beverage Concentrates segment’s net sales and SOP for 2008 and 2007 (dollars
in millions):
2008 2007
Amount
Change
For the Year Ended
December 31,
Net sales ............................................. $ 983 $ 984 $ (1)
SOP................................................ 622 608 14
Net sales for 2008 decreased $1 million compared with 2007 primarily due to an increase in fountain food
service channel discounts. This decrease was partially offset by price increases and a favorable timing change of
concentrate sales as bottlers purchased more concentrate in advance of planned concentrate price increases.
Concentrate price increases were effective in January 2009 compared with price increases which were effective in
February 2008.
SOP increased $14 million for 2008 as compared with 2007 driven by lower personnel costs, primarily due to
savings generated from restructuring initiatives, and lower marketing costs.
Volume (BCS) was flat in 2008. Dr Pepper volumes were flat as a 1% gain in the fountain foodservice channel
offset declines in the “Soda Fountain Classics” line. The Core 4 brands were flat with declines in 7UP as the brand
cycled the final stages of launch support for 7UP with 100% Natural Flavors and the re-launch of Diet 7UP, partially
offset by a 3% increase in Canada Dry resulting from the launch of Canada Dry Green Tea Ginger Ale.
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