H. J. Heinz Company |
Consolidated Balance Sheets |
(Unaudited) |
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(In millions) | | | 2006 | | | 2007 | | | 2008 | | | 2009 | | Q110 |
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Current assets: | | | | | | | | | | |
Cash and cash equivalents | | $ | 445.4 | | $ | 652.9 | | $ | 617.7 | | $ | 373.1 | | $ | 550.7 |
Trade receivables, net | | | 773.8 | | | 812.2 | | | 919.4 | | | 881.2 | | | 756.5 |
Other receivables, net | | | 228.3 | | | 184.7 | | | 242.1 | | | 290.6 | | | 296.0 |
Inventories | | | 1,073.7 | | | 1,198.0 | | | 1,378.2 | | | 1,237.6 | | | 1,333.5 |
Prepaid expenses | | | 139.7 | | | 132.6 | | | 139.5 | | | 125.8 | | | 172.9 |
Short-term restricted cash | | | - | | | - | | | - | | | - | | | 192.7 |
Other current assets | | | 43.0 | | | 38.7 | | | 28.7 | | | 36.7 | | | 45.2 |
Total current assets | | | 2,703.9 | | | 3,019.0 | | | 3,325.6 | | | 2,945.0 | | | 3,347.5 |
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Property, plant and equipment, net | | | 1,900.6 | | | 1,998.2 | | | 2,104.7 | | | 1,978.3 | | | 2,068.6 |
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Other non-current assets: | | | | | | | | | | |
Goodwill | | | 2,822.6 | | | 2,834.6 | | | 2,997.5 | | | 2,687.8 | | | 2,817.3 |
Trademarks, net | | | 776.9 | | | 892.7 | | | 957.1 | | | 889.8 | | | 934.5 |
Other intangibles, net | | | 269.6 | | | 412.5 | | | 456.9 | | | 405.4 | | | 424.8 |
Long-term restricted cash | | | - | | | - | | | - | | | 192.7 | | | - |
Other non-current assets | | | 1,264.3 | | | 876.0 | | | 723.2 | | | 565.2 | | | 556.4 |
Total other non-current assets | | | 5,133.3 | | | 5,015.9 | | | 5,134.8 | | | 4,740.9 | | | 4,733.0 |
Total assets | | $ | 9,737.8 | | $ | 10,033.0 | | $ | 10,565.0 | | $ | 9,664.2 | | $ | 10,149.0 |
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Current liabilities: | | | | | | | | | | |
Short-term debt | | $ | 54.1 | | $ | 165.1 | | $ | 124.3 | | $ | 61.3 | | $ | 90.9 |
Portion of long-term debt due within one year | | | 0.9 | | | 303.2 | | | 328.4 | | | 4.3 | | | 4.6 |
Trade payables | | | 879.5 | | | 972.5 | | | 1,125.0 | | | 955.4 | | | 947.9 |
Other payables | | | 155.6 | | | 208.6 | | | 122.5 | | | 157.9 | | | 136.5 |
Salaries and wages | | | 84.8 | | | 85.8 | | | 92.6 | | | 91.3 | | | 88.1 |
Accrued marketing | | | 216.3 | | | 262.2 | | | 298.3 | | | 233.3 | | | 247.8 |
Other accrued liabilities | | | 476.7 | | | 414.1 | | | 487.7 | | | 485.4 | | | 394.4 |
Income taxes | | | 150.4 | | | 93.6 | | | 91.3 | | | 73.9 | | | 124.4 |
Total current liabilities | | | 2,018.2 | | | 2,505.1 | | | 2,670.1 | | | 2,062.8 | | | 2,034.7 |
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Long-term debt and other liabilities: | | | | | | | | | | |
Long-term debt | | | 4,357.0 | | | 4,413.6 | | | 4,730.9 | | | 5,076.2 | | | 5,234.5 |
Deferred income taxes | | | 518.7 | | | 463.7 | | | 409.2 | | | 345.7 | | | 350.5 |
Other liabilities | | | 674.8 | | | 710.6 | | | 801.3 | | | 900.3 | | | 827.8 |
Total long-term debt and other liabilities | | | 5,550.6 | | | 5,587.9 | | | 5,941.4 | | | 6,322.2 | | | 6,412.8 |
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Shareholders' equity: | | | | | | | | | | |
Preferred stock | | | 0.1 | | | 0.1 | | | 0.1 | | | 0.1 | | | 0.1 |
Common stock | | | 107.8 | | | 107.8 | | | 107.8 | | | 107.8 | | | 107.8 |
Additional capital | | | 502.2 | | | 580.6 | | | 617.8 | | | 737.9 | | | 725.2 |
Retained earnings | | | 5,454.1 | | | 5,778.6 | | | 6,129.0 | | | 6,525.7 | | | 6,605.2 |
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Less: | | | | | | | | | | |
Treasury shares, at cost | | | 3,852.2 | | | 4,406.1 | | | 4,905.8 | | | 4,881.8 | | | 4,866.6 |
Unearned compensation | | | 32.8 | | | - | | | - | | | - | | | - |
Accumulated other comprehensive loss | | | 130.4 | | | 219.3 | | | 61.1 | | | 1,269.7 | | | 938.8 |
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Total H.J. Heinz Company shareholders'equity | | | 2,048.8 | | | 1,841.7 | | | 1,887.8 | | | 1,219.9 | | | 1,632.9 |
Noncontrolling interest | | | 120.2 | | | 98.3 | | | 65.7 | | | 59.2 | | | 68.7 |
Total shareholders' equity | | | 2,169.0 | | | 1,940.0 | | | 1,953.5 | | | 1,279.1 | | | 1,701.6 |
Total liabilities and shareholder's equity | | $ | 9,737.8 | | $ | 10,033.0 | | $ | 10,565.0 | | $ | 9,664.2 | | $ | 10,149.0 |
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The following are acquisitions (A) and divestitures (D) that occurred during the respective years: |
Fiscal 2006: HP Foods (A-U.K., U.S. and Canada), Petrosoyuz (A-Russia), Nancy's Specialty Foods, Inc. (A-U.S. and Canada), Kabobs, Inc. (A-U.S. Foodservice), European seafood (D), |
Tegel® poultry (D- New Zealand), Hain equity investment (D-U.S.) and HAK® vegetable product line (D- Northern Europe). |
Fiscal 2007: Renee's Gourmet Foods (A-Canada), non-core U.S. Foodservice product line (D), U.K. frozen and chilled product line (D) and Argentina pet food business (D). |
Fiscal 2008: Cottee's® and Rose's® license (A-Australia and New Zealand), Wyko® brand and sauce business (A- Netherlands) and Portugal tomato paste business (D). |
Fiscal 2009: Benedicta (A- France), La Bonne Cuisine (A- New Zealand), Golden Circle (A- Australia) and Papillion (A- South Africa) |
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Amounts and presentation has been restated pursuant with the Fiscal 2010 adoption of FAS 160. |
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(Totals may not add due to rounding) |