Campbell Soup (CPB) 8-K Consolidated Statements of Earnings

Exhibit 99.1

CAMPBELL SOUP COMPANY

Consolidated Statements of Earnings

Recast for Discontinued Operations

(millions, except per share amounts)

(unaudited)

	Three Months Ended			Three Months Ended			Six Months Ended			Three Months Ended			Nine Months Ended			Three Months Ended			Twelve Months Ended
	October 28, 2012			January 27, 2013			January 27, 2013			April 28, 2013			April 28, 2013			July 28, 2013			July 28, 2013
Net sales	$	2,205		$	2,162		$	4,367		$	1,962		$	6,329		$	1,723		$	8,052
Costs and expenses
Cost of products sold	1,384			1,400			2,784			1,256			4,040			1,100			5,140
Marketing and selling expenses	236			275			511			245			756			191			947
Administrative expenses	155			163			318			164			482			195			677
Research and development expenses	27			32			59			35			94			34			128
Other expenses / (income)	13			7			20			4			24			5			29
Restructuring charges	22			8			30			1			31			20			51
Total costs and expenses	1,837			1,885			3,722			1,705			5,427			1,545			6,972
Earnings before interest and taxes	368			277			645			257			902			178			1,080
Interest expense	36			33			69			33			102			33			135
Interest income	3			2			5			2			7			3			10
Earnings before taxes	335			246			581			226			807			148			955
Taxes on earnings	105			78			183			59			242			33			275
Earnings from continuing operations	230			168			398			167			565			115			680
Earnings (loss) from discontinued operations	13			19			32			12			44			(275		)	(231		)
Net earnings (loss)	243			187			430			179			609			(160		)	449
Less: Net earnings (loss) attributable to noncontrolling interests	(2		)	(3		)	(5		)	(2		)	(7		)	(2		)	(9		)
Net earnings (loss) attributable to Campbell Soup Company	$	245		$	190		$	435		$	181		$	616		$	(158	)	$	458
Per Share — Basic
Earnings from continuing operations	$	0.74		$	0.54		$	1.28		$	0.54		$	1.82		$	0.37		$	2.19
Earnings (loss) from discontinued operations	0.04			0.06			0.10			0.04			0.14			(0.88		)	(0.74		)
Net earnings (loss) attributable to Campbell Soup Company	$	0.78		$	0.61		$	1.39		$	0.58		$	1.96		$	(0.50	)	$	1.46
Weighted average shares outstanding — basic	314			314			314			314			314			314			314
Per Share — Assuming Dilution
Earnings from continuing operations	$	0.73		$	0.54		$	1.28		$	0.53		$	1.80		$	0.37		$	2.17
Earnings (loss) from discontinued operations	0.04			0.06			0.10			0.04			0.14			(0.87		)	(0.73		)
Net earnings (loss) attributable to Campbell Soup Company	$	0.78		$	0.60		$	1.38		$	0.57		$	1.94		$	(0.50	)	$	1.44
Weighted average shares outstanding — assuming dilution	316			316			316			317			317			317			317

The sum of the individual per share amounts may not add due to rounding.

CAMPBELL SOUP COMPANY

Consolidated Statements of Earnings

Recast for Discontinued Operations

(millions, except per share amounts)

(unaudited)

	Three Months Ended			Three Months Ended			Six Months Ended			Three Months Ended			Nine Months Ended			Three Months Ended			Twelve Months Ended
	October 30, 2011			January 29, 2012			January 29, 2012			April 29, 2012			April 29, 2012			July 29, 2012			July 29, 2012
Net sales	$	2,015		$	1,943		$	3,958		$	1,698		$	5,656		$	1,519		$	7,175
Costs and expenses
Cost of products sold	1,213			1,193			2,406			1,033			3,439			926			4,365
Marketing and selling expenses	240			272			512			238			750			191			941
Administrative expenses	137			145			282			135			417			163			580
Research and development expenses	28			27			55			30			85			31			116
Other expenses / (income)	—			1			1			6			7			4			11
Restructuring charges	2			1			3			3			6			1			7
Total costs and expenses	1,620			1,639			3,259			1,445			4,704			1,316			6,020
Earnings before interest and taxes	395			304			699			253			952			203			1,155
Interest expense	30			28			58			29			87			27			114
Interest income	2			2			4			2			6			2			8
Earnings before taxes	367			278			645			226			871			178			1,049
Taxes on earnings	119			93			212			59			271			54			325
Earnings from continuing operations	248			185			433			167			600			124			724
Earnings from discontinued operations	15			16			31			8			39			1			40
Net earnings	263			201			464			175			639			125			764
Less: Net earnings (loss) attributable to noncontrolling interests	(2		)	(4		)	(6		)	(2		)	(8		)	(2		)	(10		)
Net earnings attributable to Campbell Soup Company	$	265		$	205		$	470		$	177		$	647		$	127		$	774
Per Share — Basic
Earnings from continuing operations	$	0.78		$	0.59		$	1.37		$	0.53		$	1.90		$	0.40		$	2.30
Earnings from discontinued operations	0.05			0.05			0.10			0.03			0.12			—			0.12
Net earnings attributable to Campbell Soup Company	$	0.82		$	0.64		$	1.46		$	0.56		$	2.03		$	0.40		$	2.43
Weighted average shares outstanding — basic	320			318			319			316			318			315			317
Per Share — Assuming Dilution
Earnings from continuing operations	$	0.77		$	0.59		$	1.36		$	0.53		$	1.89		$	0.39		$	2.29
Earnings from discontinued operations	0.05			0.05			0.10			0.03			0.12			—			0.12
Net earnings attributable to Campbell Soup Company	$	0.82		$	0.64		$	1.45		$	0.55		$	2.01		$	0.40		$	2.41
Weighted average shares outstanding — assuming dilution	322			320			321			318			320			317			319

The sum of the individual per share amounts may not add due to rounding.

2

CAMPBELL SOUP COMPANY

Business Segments

Recast for Discontinued Operations

(millions)

(unaudited)

	Three Months Ended		Three Months Ended		Six Months Ended		Three Months Ended		Nine Months Ended		Three Months Ended		Twelve Months Ended
	October 28, 2012		January 27, 2013		January 27, 2013		April 28, 2013		April 28, 2013		July 28, 2013		July 28, 2013
Net sales
U.S. Simple Meals	$	896	$	833	$	1,729	$	627	$	2,356	$	493	$	2,849
Global Baking and Snacking	574		561		1,135		568		1,703		570		2,273
International Simple Meals and Beverages	223		234		457		225		682		187		869
U.S. Beverages	189		182		371		198		569		173		742
Bolthouse and Foodservice	323		352		675		344		1,019		300		1,319
Total	$	2,205	$	2,162	$	4,367	$	1,962	$	6,329	$	1,723	$	8,052

Earnings before interest and taxes
U.S. Simple Meals	$	274		$	191		$	465		$	156		$	621		$	110		$	731
Global Baking and Snacking	85			74			159			73			232			84			316
International Simple Meals and Beverages	33			33			66			28			94			14			108
U.S. Beverages	30			37			67			33			100			20			120
Bolthouse and Foodservice	34			30			64			27			91			25			116
Corporate	(66		)	(80		)	(146		)	(59		)	(205		)	(55		)	(260		)
Restructuring charges	(22		)	(8		)	(30		)	(1		)	(31		)	(20		)	(51		)
Total	$	368		$	277		$	645		$	257		$	902		$	178		$	1,080

3

CAMPBELL SOUP COMPANY

Business Segments

Recast for Discontinued Operations

(millions)

(unaudited)

	Three Months Ended		Three Months Ended		Six Months Ended		Three Months Ended		Nine Months Ended		Three Months Ended		Twelve Months Ended
	October 30, 2011		January 29, 2012		January 29, 2012		April 29, 2012		April 29, 2012		July 29, 2012		July 29, 2012
Net sales
U.S. Simple Meals	$	874	$	824	$	1,698	$	567	$	2,265	$	461	$	2,726
Global Baking and Snacking	568		526		1,094		543		1,637		556		2,193
International Simple Meals and Beverages	213		233		446		226		672		200		872
U.S. Beverages	198		187		385		208		593		181		774
Bolthouse and Foodservice	162		173		335		154		489		121		610
Total	$	2,015	$	1,943	$	3,958	$	1,698	$	5,656	$	1,519	$	7,175

Earnings before interest and taxes
U.S. Simple Meals	$	260		$	174		$	434		$	120		$	554		$	104		$	658
Global Baking and Snacking	88			71			159			73			232			83			315
International Simple Meals and Beverages	25			35			60			28			88			18			106
U.S. Beverages	30			34			64			45			109			25			134
Bolthouse and Foodservice	27			28			55			20			75			10			85
Corporate	(33		)	(37		)	(70		)	(30		)	(100		)	(36		)	(136		)
Restructuring charges	(2		)	(1		)	(3		)	(3		)	(6		)	(1		)	(7		)
Total	$	395		$	304		$	699		$	253		$	952		$	203		$	1,155

4

Reconciliation of 2013 GAAP to Non-GAAP Financial Measures Recast for Discontinued Operations (unaudited)

Campbell Soup Company uses certain non-GAAP financial measures as defined by the Securities and Exchange Commission in certain communications. These non-GAAP financial measures are measures of performance not defined by accounting principles generally accepted in the United States and should be considered in addition to, not in lieu of, GAAP reported measures.

The company believes that financial information excluding certain transactions that are not considered to be part of the ongoing business improves the comparability of year-to-year results. Consequently, the company believes that investors may be able to better understand its gross margin and earnings results excluding these transactions.

The tables below reconcile financial information, presented in accordance with GAAP, to financial information excluding certain transactions for 2013.

	Three Months Ended			Three Months Ended			Six Months Ended			Three Months Ended			Nine Months Ended			Three Months Ended			Twelve Months Ended
(millions, except per share amounts)	October 28, 2012			January 27, 2013			January 27, 2013			April 28, 2013			April 28, 2013			July 28, 2013			July 28, 2013
Gross margin, as reported	$	821		$	762		$	1,583		$	706		$	2,289		$	623		$	2,912
Add: Restructuring-related costs (1)	21			40			61			20			81			10			91
Adjusted Gross margin	$	842		$	802		$	1,644		$	726		$	2,370		$	633		$	3,003
Adjusted Gross margin percentage	38.2		%	37.1		%	37.6		%	37.0		%	37.4		%	36.7		%	37.3		%
Earnings before interest and taxes, as reported	$	368		$	277		$	645		$	257		$	902		$	178		$	1,080
Add: Restructuring charges and related costs (1)	43			48			91			21			112			30			142
Add: Acquisition transaction costs (2)	10			—			10			—			10			—			10
Adjusted Earnings before interest and taxes	$	421		$	325		$	746		$	278		$	1,024		$	208		$	1,232
Interest, net, as reported	$	33		$	31		$	64		$	31		$	95		$	30		$	125
Adjusted Earnings before taxes	$	388		$	294		$	682		$	247		$	929		$	178		$	1,107
Taxes on earnings, as reported	$	105		$	78		$	183		$	59		$	242		$	33		$	275
Add: Tax benefit from restructuring charges and related costs (1)	16			18			34			7			41			11			52
Add: Tax benefit from acquisition transaction costs (2)	3			—			3			—			3			—			3
Adjusted Taxes on earnings	$	124		$	96		$	220		$	66		$	286		$	44		$	330
Adjusted effective income tax rate	32.0		%	32.7		%	32.3		%	26.7		%	30.8		%	24.7		%	29.8		%
Earnings from continuing operations, as reported	$	230		$	168		$	398		$	167		$	565		$	115		$	680
Deduct: Net loss from noncontrolling interests	(2		)	(3		)	(5		)	(2		)	(7		)	(2		)	(9		)
Earnings from continuing operations attributable to Campbell Soup Company	$	232		$	171		$	403		$	169		$	572		$	117		$	689
Add: Net adjustment from restructuring charges and related costs (1)	27			30			57			14			71			19			90
Add: Net adjustment from acquisition transaction costs (2)	7			—			7			—			7			—			7
Adjusted Earnings from continuing operations attributable to Campbell Soup Company	$	266		$	201		$	467		$	183		$	650		$	136		$	786
Earnings (loss) from discontinued operations, as reported	$	13		$	19		$	32		$	12		$	44		$	(275	)	$	(231	)
Add: Net impairment on European business (3)	—			—			—			—			—			263			263
Add: Tax expense on book and tax differences (3)	—			—			—			—			—			18			18
Adjusted Earnings from discontinued operations	$	13		$	19		$	32		$	12		$	44		$	6		$	50

5

	Three Months Ended		Three Months Ended		Six Months Ended		Three Months Ended		Nine Months Ended		Three Months Ended			Twelve Months Ended
(millions, except per share amounts)	October 28, 2012		January 27, 2013		January 27, 2013		April 28, 2013		April 28, 2013		July 28, 2013			July 28, 2013
Adjusted Net earnings attributable to Campbell Soup Company	$	279	$	220	$	499	$	195	$	694	$	142		$	836
Diluted earnings per share - continuing operations, as reported	$	.73	$	.54	$	1.28	$	.53	$	1.80	$	.37		$	2.17
Add: Net adjustment from restructuring charges and related costs (1)	.09		.09		.18		.04		.22		.06			.28
Add: Net adjustment from acquisition transaction costs (2)	.02		—		.02		—		.02		—			.02
Adjusted Diluted earnings per share - continuing operations*	$	.84	$	.64	$	1.48	$	.58	$	2.05	$	.43		$	2.48
Diluted earnings (loss) per share - discontinued operations, as reported	$	.04	$	.06	$	.10	$	.04	$	.14	$	(.87	)	$	(.73	)
Add: Impairment on European business (3)	—		—		—		—		—		.83			.83
Add: Tax expense on book and tax differences (3)	—		—		—		—		—		.06			.06
Adjusted Diluted earnings per share - discontinued operations	$	.04	$	.06	$	.10	$	.04	$	.14	$	.02		$	.16
Diluted net earnings (loss) per share attributable to Campbell Soup Company, as reported*	$	.78	$	.60	$	1.38	$	.57	$	1.94	$	(.50	)	$	1.44
Add: Net adjustment from restructuring charges and related costs (1)	.09		.09		.18		.04		.22		.06			.28
Add: Net adjustment from acquisition transaction costs (2)	.02		—		.02		—		.02		—			.02
Add: Net impairment on European business (3)	—		—		—		—		—		.83			.83
Add: Tax expense on book and tax differences (3)	—		—		—		—		—		.06			.06
Adjusted Diluted net earnings per share attributable to Campbell Soup Company*	$	.88	$	.70	$	1.58	$	.62	$	2.19	$	.45		$	2.64
*The sum of the individual per share amounts may not add due to rounding.

(1) The company recorded restructuring charges and restructuring-related costs associated with initiatives to improve its U.S. supply chain cost structure and increase asset utilization across its U.S. thermal plant network; expand access to manufacturing and distribution capabilities in Mexico; improve its Pepperidge Farm bakery supply chain cost structure; and reduce overhead costs in North America.

(2) The company recorded transaction costs associated with the Bolthouse Farms acquisition.

(3) Commencing with the fourth quarter of 2013, the company has reflected the results of its simple meals business in Europe as discontinued operations. The company recorded an impairment charge on the intangible assets of this business, and recorded tax charges representing taxes on the difference between the book value and tax basis of the business.

6