Snapple 2009 Annual Report Download - page 79
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DR PEPPER SNAPPLE GROUP, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
For the Years Ended December 31, 2009, 2008 and 2007
2009 2008 2007
For the Year Ended December 31,
(In millions, except per share data)
Net sales ................................................... $ 5,531 $ 5,710 $ 5,695
Cost of sales ................................................ 2,234 2,590 2,564
Gross profit ............................................... 3,297 3,120 3,131
Selling, general and administrative expenses ......................... 2,135 2,075 2,018
Depreciation and amortization ................................... 117 113 98
Impairment of goodwill and intangible assets ........................ — 1,039 6
Restructuring costs ............................................ — 57 76
Other operating (income) expense ................................. (40) 4 (71)
Income (loss) from operations .................................. 1,085 (168) 1,004
Interest expense .............................................. 243 257 253
Interest income .............................................. (4) (32) (64)
Other income, net ............................................ (22) (18) (2)
Income (loss) before provision for income taxes and equity in earnings of
unconsolidated subsidiaries .................................. 868 (375) 817
Provision for income taxes ...................................... 315 (61) 322
Income (loss) before equity in earnings of unconsolidated subsidiaries .... 553 (314) 495
Equity in earnings of unconsolidated subsidiaries, net of tax ............. 2 2 2
Net income (loss) ............................................. $ 555 $ (312) $ 497
Earnings (loss) per common share:
Basic .................................................... $ 2.18 $ (1.23) $ 1.96
Diluted................................................... $ 2.17 $ (1.23) $ 1.96
Weighted average common shares outstanding:
Basic .................................................... 254.2 254.0 253.7
Diluted................................................... 255.2 254.0 253.7
The accompanying notes are an integral part of these consolidated financial statements.
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