Snapple 2013 Annual Report Download - page 50

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Cash and Cash Equivalents
As a result of the above items, cash and cash equivalents decreased $213 million since December 31, 2012 to $153 million
as of December 31, 2013 primarily driven by our decision to hold a minimum amount of cash in the U.S. and use Commercial
Paper as needed for our operating needs.
Our cash balances are used to fund working capital requirements, scheduled debt and interest payments, capital expenditures,
income tax obligations, dividend payments and repurchases of our common stock. Cash generated by our foreign operations is
generally repatriated to the U.S. annually except when required to fund working capital requirements in those jurisdictions. Foreign
cash balances were $65 million and $109 million as of December 31, 2013 and 2012, respectively. We accrue tax costs for
repatriation, as applicable, as cash is generated in those foreign jurisdictions.
Acquisitions
On February 25, 2013, we acquired certain assets of DP/7UP West to strengthen our route to market in the U.S. and support
efforts to build and enhance our leading brands. The fair value of the consideration paid for this acquisition was $23 million
consisting of the issuance by us of 313,105 shares of common stock to DP/7UP West and the assumption of certain liabilities of
DP/7UP West to consummate the transaction.
During the first quarter of 2013, we also reacquired the distribution rights for Snapple and several other NCB brands in parts
of Asia-Pacific from
We may continue to make future acquisitions, such as acquisitions of regional bottling companies, distributors and/or
distribution rights to further extend our geographic coverage. Any acquisitions may require additional funding for future capital
expenditures and possibly restructuring expenses.
Dividends
Our Board declared aggregate dividends aggregating of $1.52, $1.36 and $1.21 per share on outstanding common stock during
the years ended December 31, 2013, 2012 and 2011, respectively.
Our fourth quarter 2013 dividend was paid on January 3, 2014, to shareholders of record on December 16, 2013.
Common Stock Repurchases
As previously disclosed, our Board has authorized us to purchase an aggregate amount of up to $3,000 million of our outstanding
common stock. We repurchased and retired 8.7 million shares of common stock valued at approximately $400 million, 9.5 million
shares of common stock valued at approximately $400 million and 13.7 million shares of common stock valued at approximately
$522 million for the years ended December 31, 2013, 2012 and 2011, respectively. Refer to Part II, Item 5 "Market for Registrant's
Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities" of this Annual Report on Form 10-K
for additional information regarding these repurchases.