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Item 6. Selected Financial Data. | | EXHIBIT 99.1 |
Kraft Foods Inc.
Selected Financial Data – Five Year Review
(in millions of dollars, except per share and employee data)
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| | 2008 | | 2007 | | 2006 | | 2005 | | | 2004 |
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Summary of Operations: | | | | | | | | | | | | | | | | |
Net revenues | | $ | 41,932 | | $ | 35,858 | | $ | 33,018 | | $ | 32,779 | | | $ | 30,859 |
Cost of sales | | | 28,088 | | | 23,656 | | | 21,190 | | | 21,115 | | | | 19,474 |
Operating income | | | 3,843 | | | 4,176 | | | 4,158 | | | 4,373 | | | | 4,327 |
Operating margin | | | 9.2% | | | 11.6% | | | 12.6% | | | 13.3% | | | | 14.0% |
Interest and other expense, net | | | 1,240 | | | 604 | | | 510 | | | 635 | | | | 666 |
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Earnings from continuing operations before income taxes | | | 2,603 | | | 3,572 | | | 3,648 | | | 3,738 | | | | 3,661 |
Provision for income taxes | | | 755 | | | 1,080 | | | 816 | | | 1,066 | | | | 1,165 |
Earnings / (loss) from discontinued operations, net of income taxes | | | 1,045 | | | 232 | | | 233 | | | (33 | ) | | | 219 |
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Net earnings | | | 2,893 | | | 2,724 | | | 3,065 | | | 2,639 | | | | 2,715 |
Noncontrolling interest | | | 9 | | | 3 | | | 5 | | | 3 | | | | 3 |
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Net earnings attributable to Kraft Foods | | | 2,884 | | | 2,721 | | | 3,060 | | | 2,636 | | | | 2,712 |
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Basic EPS attributable to Kraft Foods: | | | | | | | | | | | | | | | | |
Continuing operations | | | 1.22 | | | 1.56 | | | 1.70 | | | 1.57 | | | | 1.45 |
Discontinued operations | | | 0.70 | | | 0.15 | | | 0.14 | | | (0.02 | ) | | | 0.13 |
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Net earnings attributable to Kraft Foods | | | 1.92 | | | 1.71 | | | 1.84 | | | 1.55 | | | | 1.58 |
Diluted EPS attributable to Kraft Foods: | | | | | | | | | | | | | | | | |
Continuing operations | | | 1.21 | | | 1.56 | | | 1.70 | | | 1.57 | | | | 1.45 |
Discontinued operations | | | 0.69 | | | 0.14 | | | 0.14 | | | (0.02 | ) | | | 0.13 |
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Net earnings attributable to Kraft Foods | | | 1.90 | | | 1.70 | | | 1.84 | | | 1.55 | | | | 1.58 |
Dividends declared per share | | | 1.12 | | | 1.04 | | | 0.96 | | | 0.87 | | | | 0.77 |
Dividends declared as a % of Basic EPS | | | 58.3% | | | 60.8% | | | 52.2% | | | 56.1% | | | | 48.7% |
Dividends declared as a % of Diluted EPS | | | 58.9% | | | 61.2% | | | 52.2% | | | 56.1% | | | | 48.7% |
Weighted-average shares – Basic | | | 1,505 | | | 1,591 | | | 1,659 | | | 1,699 | | | | 1,720 |
Weighted-average shares – Diluted | | | 1,515 | | | 1,600 | | | 1,661 | | | 1,699 | | | | 1,720 |
Net cash provided by operating activities | | | 4,141 | | | 3,571 | | | 3,720 | | | 3,464 | | | | 4,008 |
Capital expenditures | | | 1,367 | | | 1,241 | | | 1,169 | | | 1,171 | | | | 1,006 |
Depreciation | | | 963 | | | 873 | | | 884 | | | 869 | | | | 868 |
Property, plant and equipment, net | | | 9,917 | | | 10,778 | | | 9,693 | | | 9,817 | | | | 9,985 |
Inventories, net | | | 3,881 | | | 4,238 | | | 3,436 | | | 3,272 | | | | 3,365 |
Total assets | | | 63,173 | | | 68,132 | | | 55,548 | | | 57,597 | | | | 59,905 |
Long-term debt | | | 18,589 | | | 12,902 | | | 7,081 | | | 8,475 | | | | 9,723 |
Total debt | | | 20,251 | | | 21,009 | | | 10,821 | | | 11,200 | | | | 12,518 |
Total long-term liabilities | | | 29,773 | | | 23,574 | | | 16,520 | | | 19,285 | | | | 20,903 |
Total Kraft Foods Shareholders’ Equity | | | 22,295 | | | 27,407 | | | 28,536 | | | 29,574 | | | | 29,888 |
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Total Equity | | | 22,356 | | | 27,445 | | | 28,562 | | | 29,600 | | | | 29,924 |
Book value per common share outstanding | | | 15.18 | | | 17.87 | | | 17.44 | | | 17.71 | | | | 17.53 |
Market price per Common Stock share – high / low | | | 34.97–24.75 | | | 37.20–29.95 | | | 36.67–27.44 | | | 35.65–27.88 | | | | 36.06–29.45 |
Closing price of Common Stock at year end | | | 26.85 | | | 32.63 | | | 35.70 | | | 28.17 | | | | 35.61 |
Price / earnings ratio at year end – Basic | | | 14 | | | 19 | | | 19 | | | 18 | | | | 23 |
Price / earnings ratio at year end – Diluted | | | 14 | | | 19 | | | 19 | | | 18 | | | | 23 |
Number of common shares outstanding at year end | | | 1,469 | | | 1,534 | | | 1,636 | | | 1,670 | | | | 1,705 |
Number of employees | | | 98,000 | | | 103,000 | | | 90,000 | | | 94,000 | | | | 98,000 |
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