Snapple 2009 Annual Report Download - page 68

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Contractual Commitments and Obligations
We enter into various contractual obligations that impact, or could impact, our liquidity. The following table
summarizes our contractual obligations and contingencies at December 31, 2009 (in millions). Based on our current
and anticipated level of operations, we believe that our proceeds from operating cash flows will be sufficient to meet
our anticipated obligations. To the extent that our operating cash flows are not sufficient to meet our liquidity needs,
we may utilize amounts available under our Revolver. Refer to Notes 9 and 15 of the Notes to our Audited
Consolidated Financial Statements for additional information regarding the items described in this table.
Total 2010 2011 2012 2013 2014
After
2014
Payments Due in Year
Senior unsecured notes ...... $ 2,550 $ — $ 400 $ 450 $ 250 $ — $ 1,450
Revolver(7)............... 405 — — — 405 — —
Capital leases(1) ........... 16 33442—
Interest payments(2)(7) ...... 1,399 144 158 157 115 101 724
Operating leases(3) ......... 363 72 64 50 44 32 101
Purchase obligations(4) ...... 629 356 109 70 58 17 19
Other long-term liabilities(5) . . 201 16 17 18 20 20 110
Payable to Kraft(6) ......... 127 15 777784
Total.................... $ 5,690 $ 606 $ 758 $ 756 $ 903 $ 179 $ 2,488
(1) Amounts represent capitalized lease obligations, net of interest. Interest in respect of capital leases is included
under the caption “Interest payments” on this table.
(2) Amounts represent our estimated interest payments based on: (a) projected interest rates for floating rate debt,
(b) the impact of interest rate swaps which convert variable interest rates to fixed rates, (c) specified interest
rates for fixed rate debt, (d) capital lease amortization schedules and (e) debt amortization schedules.
(3) Amounts represent minimum rental commitment under non-cancelable operating leases.
(4) Amounts represent payments under agreements to purchase goods or services that are legally binding and that
specify all significant terms, including capital obligations and long-term contractual obligations.
(5) Amounts represent estimated pension and postretirement benefit payments for U.S. and non-U.S. defined
benefit plans.
(6) Additional amounts payable to Kraft of approximately $3 million are excluded from the table above. Due to
uncertainty regarding the timing of payments associated with these liabilities, we are unable to make a
reasonable estimate of the amount and period in which these liabilities might be paid.
(7) 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. Interest payments associated with
the Revolver assumed repayment of the principal balance in 2013 at its maturity. As such, $58 million of interest
payments should be subsequently excluded.
In accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”),
we had $534 million of unrecognized tax benefits, related interest and penalties as of December 31, 2009, classified
as a long-term liability. The table above does not reflect any payments related to tax reserves if it is not possible to
make a reasonable estimate of the amount or timing of the payment.
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