Heinz H J (HNZ) 8-K Heinz Reports Strong Third-Quarter Results with EPS from Continuing Operations up 9% to $0.83

Exhibit 99.2

H.J. Heinz Company
Income Statement
(Unaudited)
(In Millions, Except per Share Amounts)		2006			2007			2008		Q109			Q209			Q309			Q409				2009		Q110			Q210			Q310
Category Sales:
Ketchup and Sauces	$	3,530.3		$	3,682.1		$	4,081.9		$	1,098.6		$	1,077.1		$	1,000.4		$	1,075.5		$	4,251.6		$	1,068.8		$	1,110.1		$	1,087.2
Meals and Snacks		3,703.3			3,824.7			4,336.5			1,017.9			1,134.7			1,036.3			1,036.3			4,225.1			924.2			1,105.2			1,176.5
Infant/Nutrition		863.9			929.1			1,089.5			309.5			268.0			252.8			275.1			1,105.3			292.0			291.6			280.5
Other		372.4			364.3			377.7			117.0			93.2			90.2			128.9			429.3			156.7			139.9			137.6
Total Sales		8,470.0			8,800.1			9,885.6			2,542.9			2,572.9			2,379.7			2,515.8			10,011.3			2,441.7			2,646.8			2,681.7
Cost of products sold		5,418.6			5,452.8			6,233.4			1,613.8			1,659.3			1,529.0			1,640.0			6,442.1			1,569.4			1,693.5			1,676.4
Gross Profit		3,051.4			3,347.2			3,652.1			929.1			913.7			850.7			875.7			3,569.3			872.3			953.3			1,005.3
Gross Margin		36.0	%		38.0	%		36.9	%		36.5	%		35.5	%		35.7	%		34.8	%		35.7	%		35.7	%		36.0	%		37.5	%
Selling, general and adminstrative expenses		1,958.3			1,919.0			2,081.8			535.3			527.5			467.3			536.8			2,066.8			503.2			544.9			568.8
Operating Income		1,093.1			1,428.2			1,570.3			393.9			386.2			383.4			339.0			1,502.4			369.1			408.4			436.5
Net Interest Expense		283.1			291.2			323.3			63.2			73.1			70.2			69.0			275.5			54.3			64.1			67.8
Asset impairment charges for cost and equity investments		111.0			-			-			-			-			-			-			-			-			-			-
Other (Expense)/Income, net		(20.3	)		(16.7	)		(16.3	)		(2.7	)		82.3			17.5			(4.2	)		92.9			(5.4	)		(9.6	)		(2.4	)
Income from Continuing Operations before income taxes		678.7			1,120.4			1,230.8			328.0			395.4			330.7			265.8			1,319.9			309.3			334.7			366.3
Provision for income taxes		243.5			326.0			372.6			92.5			112.7			85.7			84.6			375.5			88.1			85.7			99.5
Income from continuing operations		435.2			794.4			858.2			235.5			282.7			245.1			181.2			944.4			221.3			249.0			266.7
Income/(loss) from discontinued operations, net of tax		216.2			5.6			(1.7	)		(1.2	)		(0.2	)		(1.3	)		(3.8	)		(6.4	)		(2.2	)		(11.6	)		(35.6	)
Net Income		651.3			800.0			856.5			234.3			282.5			243.8			177.4			938.0			219.1			237.3			231.1
Less: Net income attributable to the noncontrolling interest		(5.7	)		(14.3	)		(11.6	)		(5.3	)		(5.7	)		(1.5	)		(2.3	)		(14.9	)		(6.5	)		(5.9	)		(2.6	)
Net income attributable to H.J. Heinz Company	$	645.6		$	785.7		$	844.9		$	229.0		$	276.7		$	242.3		$	175.1		$	923.1		$	212.6		$	231.4		$	228.5
Income/(loss) per common share - Diluted
Continuing operations	$	1.25		$	2.34		$	2.62		$	0.72		$	0.87		$	0.76		$	0.56		$	2.91		$	0.68		$	0.76		$	0.83
Discontinued operations		0.63			0.02			(0.01	)		-			-			-			(0.01	)		(0.02	)		(0.01	)		(0.04	)		(0.11	)
Net Income	$	1.88		$	2.36		$	2.61		$	0.72		$	0.87		$	0.76		$	0.55		$	2.89		$	0.67		$	0.73		$	0.72
Average common shares outstanding - diluted		342.1			332.5			321.7			316.8			318.4			318.7			318.3			318.1			317.2			317.4			318.0
Income/(loss) per common share - Basic
Continuing operations	$	1.26		$	2.37		$	2.65		$	0.73		$	0.88		$	0.77		$	0.57		$	2.95		$	0.68		$	0.77		$	0.83
Discontinued operations		0.64			0.02			(0.01	)		-			-			-			(0.01	)		(0.02	)		(0.01	)		(0.04	)		(0.11	)
Net Income	$	1.90		$	2.39		$	2.65		$	0.73		$	0.88		$	0.77		$	0.55		$	2.93		$	0.67		$	0.73		$	0.72
Average common shares outstanding - basic		339.1			328.6			317.0			312.0			313.7			314.5			314.8			313.7			315.1			315.5			316.0
Fiscal year 2006 contains special items. Please refer to published financial statements for further information.
Amounts have been restated for the disposals of the private label frozen desserts business in the U.K. as well as the Kabobs and Appetizers And, Inc. businesses in the U.S., which were all reported in discontinued operations in Fiscal 2010.
(Totals may not add due to rounding)

H. J. Heinz Company
Continuing Operations, Excluding Special Items
(Unaudited)
(In Millions, Except per Share Amounts)		2006			2007			2008		Q109			Q209			Q309			Q409				2009		Q110			Q210			Q310
Reported results from continuing operations
Net Sales	$	8,470.0		$	8,800.1		$	9,885.6		$	2,542.9		$	2,572.9		$	2,379.7		$	2,515.8		$	10,011.3		$	2,441.7		$	2,646.8		$	2,681.7
Gross Profit	$	3,051.4		$	3,347.2		$	3,652.1		$	929.1		$	913.7		$	850.7		$	875.7		$	3,569.3		$	872.3		$	953.3		$	1,005.3
Separation, downsizing and integration		17.0			-			-			-			-			-			-			-			-			-			-
Net loss on disposals & impairments		74.1			-			-			-			-			-			-			-			-			-			-
Gross Profit excluding special items	$	3,142.6		$	3,347.2		$	3,652.1		$	929.1		$	913.7		$	850.7		$	875.7		$	3,569.3		$	872.3		$	953.3		$	1,005.3
Operating Income	$	1,093.1		$	1,428.2		$	1,570.3		$	393.9		$	386.2		$	383.4		$	339.0		$	1,502.4		$	369.1		$	408.4		$	436.5
Separation, downsizing and integration		146.3			-			-			-			-			-			-			-			-			-			-
Net loss on disposals & impairments		89.7			-			-			-			-			-			-			-			-			-			-
Operating Income excluding special items	$	1,329.1		$	1,428.2		$	1,570.3		$	393.9		$	386.2		$	383.4		$	339.0		$	1,502.4		$	369.1		$	408.4		$	436.5
Income from continuing operations attributable to H.J. Heinz Company	$	429.4		$	780.1		$	846.6		$	230.1		$	276.9		$	243.5		$	178.9		$	929.5		$	214.7		$	243.1		$	264.1
Separation, downsizing and integration		96.4			-			-			-			-			-			-			-			-			-			-
Net loss on disposals & impairments		48.3			-			-			-			-			-			-			-			-			-			-
Asset impairment charges for cost and equity investments		105.6			-			-			-			-			-			-			-			-			-			-
American jobs creation act		24.4			-			-			-			-			-			-			-			-			-			-
Income from continuing operations attributable to H.J. Heinz Company
excluding special items	$	704.1		$	780.1		$	846.6		$	230.1		$	276.9		$	243.5		$	178.9		$	929.5		$	214.7		$	243.1		$	264.1
Earnings per share from continuing operations attributable to H.J. Heinz Company	$	1.25		$	2.34		$	2.62		$	0.72		$	0.87		$	0.76		$	0.56		$	2.91		$	0.68		$	0.76		$	0.83
Separation, downsizing and integration		0.28			0.00			0.00			0.00			0.00			0.00			0.00			0.00			0.00			0.00			0.00
Net loss on disposals & impairments		0.14			0.00			0.00			0.00			0.00			0.00			0.00			0.00			0.00			0.00			0.00
Asset impairment charges for cost and equity investments		0.31			0.00			0.00			0.00			0.00			0.00			0.00			0.00			0.00			0.00			0.00
American jobs creation act		0.07			0.00			0.00			0.00			0.00			0.00			0.00			0.00			0.00			0.00			0.00
Earnings per share from continuing operations attributable to H.J. Heinz Company excluding special items	$	2.06		$	2.34		$	2.62		$	0.72		$	0.87		$	0.76		$	0.56		$	2.91		$	0.68		$	0.76		$	0.83
Segment Operating Income/(Loss), excluding special items:
North American Consumer Products	$	590.0		$	625.7		$	678.4		$	168.1		$	191.5		$	191.4		$	173.7		$	724.8		$	184.2		$	200.9		$	207.0
Europe		517.6			563.3			646.3			158.6			137.7			136.0			138.8			571.1			128.3			135.7			156.1
Asia / Pacific		126.6			150.2			194.9			66.5			50.7			31.5			33.8			182.5			53.3			53.0			47.6
U.S. Foodservice		201.0			202.5			163.0			24.9			36.0			35.5			32.9			129.4			31.8			42.5			42.4
Rest of World		31.6			39.5			45.4			12.7			14.9			11.8			13.0			52.3			18.1			20.9			16.8
Other:
Non-operating		(137.7	)		(152.9	)		(157.8	)		(37.0	)		(44.6	)		(22.8	)		(53.3	)		(157.6	)		(30.9	)		(44.5	)		(33.4	)
Streamling costs (a)		-			-			-			-			-			-			-			-			(15.7	)		-			-
Total Operating Income	$	1,329.1		$	1,428.2		$	1,570.3		$	393.9		$	386.2		$	383.4		$	339.0		$	1,502.4		$	369.1		$	408.4		$	436.5
(a) First Quarter ended July 29, 2009- Includes costs associated with targeted workforce reductions and asset write-offs that were part of a corporation-wide initiative to improve productivity.
Fiscal year 2006 contains special items. Please refer to published financial statements for further information.
Amounts have been restated for the disposals of the private label frozen desserts business in the U.K. as well as the Kabobs and Appetizers And, Inc. businesses in the U.S., which were all reported in discontinued operations in Fiscal 2010.
(Totals may not add due to rounding)

H. J. Heinz Company
Sales Variance Analysis
(Unaudited)
(Dollars in Millions)	2006**			2007**				2008		Q109			Q209			Q309			Q409				2009		Q110			Q210			Q310
Net external sales:
North American Consumer Products	$	2,554.1		$	2,739.5		$	3,011.5		$	741.2		$	827.3		$	761.6		$	805.9		$	3,136.0		$	727.2		$	791.5		$	815.0
Europe		2,872.2			2,956.3			3,418.2			893.3			866.7			783.7			785.4			3,329.0			772.9			841.9			878.3
Asia / Pacific		1,221.1			1,319.2			1,599.9			457.8			386.2			354.4			429.0			1,627.4			469.2			492.0			500.1
U.S. Foodservice		1,511.9			1,475.3			1,488.2			338.0			372.7			366.2			374.0			1,450.9			336.2			373.3			355.1
Rest of World		310.7			309.8			367.7			112.6			120.1			113.8			121.4			468.0			136.1			148.2			133.2
Sales (Net Revenue)	$	8,470.0		$	8,800.1		$	9,885.6		$	2,542.9		$	2,572.9		$	2,379.7		$	2,515.8		$	10,011.3		$	2,441.7		$	2,646.8		$	2,681.7
Sales Variance by Segment:
North American Consumer Products:
Volume		7.7	%		2.6	%		3.5	%		4.7	%		2.9	%		(7.6	%)		(0.3	%)		(0.4	%)		(4.9	%)		(8.0	%)		2.8	%
Price		0.4	%		2.1	%		3.5	%		5.6	%		8.0	%		5.8	%		7.6	%		6.8	%		5.4	%		3.3	%		1.0	%
Acquisition		3.9	%		1.9	%		0.7	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.3	%
Divestiture		(0.1	%)		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%
Exchange		1.3	%		0.7	%		2.2	%		1.3	%		(1.5	%)		(3.8	%)		(4.3	%)		(2.3	%)		(2.4	%)		0.4	%		3.0	%
Total Change in Net Sales		13.2	%		7.3	%		9.9	%		11.5	%		9.4	%		(5.7	%)		2.9	%		4.1	%		(1.9	%)		(4.3	%)		7.0	%
Total Organic Growth (a)		8.1	%		4.7	%		7.0	%		10.3	%		10.9	%		(1.8	%)		7.3	%		6.4	%		0.5	%		(4.7	%)		3.8	%
Europe:
Volume		1.2	%		(2.4	%)		4.9	%		7.2	%		(2.2	%)		(4.5	%)		(1.1	%)		(0.5	%)		(3.7	%)		(1.6	%)		3.0	%
Price		(1.5	%)		1.8	%		3.5	%		4.5	%		7.3	%		9.6	%		6.7	%		7.1	%		5.1	%		3.8	%		(0.5	%)
Acquisition		9.5	%		2.0	%		0.1	%		1.3	%		3.6	%		3.3	%		2.1	%		2.6	%		2.3	%		0.1	%		0.0	%
Divestiture		(1.9	%)		(5.8	%)		(1.5	%)		(0.1	%)		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		(0.1	%)		(0.1	%)
Exchange		(4.3	%)		7.3	%		8.6	%		8.3	%		(5.9	%)		(20.7	%)		(24.5	%)		(11.8	%)		(17.1	%)		(5.0	%)		9.7	%
Total Change in Net Sales		2.9	%		2.9	%		15.6	%		21.2	%		2.7	%		(12.3	%)		(16.8	%)		(2.6	%)		(13.5	%)		(2.9	%)		12.1	%
Total Organic Growth (a)		(0.3	%)		(0.6	%)		8.4	%		11.7	%		5.1	%		5.1	%		5.6	%		6.6	%		1.4	%		2.2	%		2.5	%
Asia/Pacific:
Volume		8.1	%		4.6	%		6.5	%		10.2	%		(3.7	%)		(7.6	%)		(3.8	%)		(1.4	%)		(2.2	%)		(0.3	%)		2.5	%
Price		0.0	%		2.3	%		2.8	%		5.6	%		5.2	%		7.2	%		6.4	%		6.1	%		4.1	%		3.4	%		0.3	%
Acquisition		2.3	%		0.0	%		2.8	%		1.8	%		(0.1	%)		8.9	%		15.4	%		6.8	%		12.7	%		20.3	%		18.5	%
Divestiture		(1.3	%)		(0.3	%)		(1.2	%)		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%
Exchange		(0.9	%)		1.5	%		10.4	%		5.8	%		(3.9	%)		(16.9	%)		(21.8	%)		(9.8	%)		(12.0	%)		4.0	%		19.9	%
Total Change in Net Sales		8.2	%		8.0	%		21.3	%		23.3	%		(2.4	%)		(8.3	%)		(3.8	%)		1.7	%		2.5	%		27.4	%		41.1	%
Total Organic Growth (a)		8.1	%		6.9	%		9.3	%		15.8	%		1.5	%		(0.4	%)		2.6	%		4.7	%		1.9	%		3.1	%		2.8	%
U.S. Foodservice:
Volume		0.2	%		(0.4	%)		(0.5	%)		(3.7	%)		(4.6	%)		(8.0	%)		(4.9	%)		(5.3	%)		(4.9	%)		(4.9	%)		(7.3	%)
Price		0.3	%		1.7	%		1.8	%		1.5	%		2.8	%		5.1	%		5.4	%		3.7	%		6.0	%		5.0	%		4.3	%
Acquisition		0.5	%		0.2	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%
Divestiture		0.0	%		(3.9	%)		(0.4	%)		0.0	%		(1.4	%)		(1.0	%)		(1.2	%)		(0.9	%)		(1.6	%)		0.0	%		0.0	%
Exchange		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%
Total Change in Net Sales		0.9	%		(2.4	%)		0.9	%		(2.2	%)		(3.2	%)		(3.9	%)		(0.7	%)		(2.5	%)		(0.5	%)		0.1	%		(3.0	%)
Total Organic Growth (a)		0.5	%		1.3	%		1.3	%		(2.2	%)		(1.8	%)		(2.9	%)		0.5	%		(1.6	%)		1.1	%		0.1	%		(3.0	%)
Rest of World:
Volume		2.6	%		5.0	%		6.3	%		12.6	%		6.3	%		2.7	%		(1.9	%)		4.6	%		(3.3	%)		0.7	%		1.6	%
Price		6.4	%		8.9	%		13.6	%		24.6	%		27.2	%		29.5	%		28.8	%		27.6	%		26.2	%		22.6	%		19.0	%
Acquisition		4.9	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.8	%		0.2	%		1.0	%		1.0	%		1.0	%
Divestiture		(8.3	%)		(11.8	%)		(1.7	%)		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%		0.0	%
Exchange		(3.9	%)		(2.3	%)		0.6	%		(0.9	%)		(3.5	%)		(9.7	%)		(6.0	%)		(5.2	%)		(3.1	%)		(1.0	%)		(4.6	%)
Total Change in Net Sales		1.7	%		(0.3	%)		18.7	%		36.4	%		30.0	%		22.4	%		21.7	%		27.3	%		20.9	%		23.3	%		17.1	%
Total Organic Growth (a)		8.9	%		13.8	%		19.9	%		37.2	%		33.5	%		32.2	%		26.9	%		32.2	%		22.9	%		23.3	%		20.6	%
Total Heinz:
Volume		3.9	%		0.8	%		3.9	%		5.4	%		(0.9	%)		(6.2	%)		(1.9	%)		(1.1	%)		(3.9	%)		(3.8	%)		1.2	%
Price		(0.1	%)		2.2	%		3.5	%		5.3	%		7.2	%		8.1	%		7.6	%		7.1	%		6.0	%		4.6	%		1.8	%
Acquisition		5.0	%		1.3	%		0.7	%		0.7	%		1.2	%		2.5	%		3.4	%		2.0	%		3.1	%		3.1	%		2.9	%
Divestiture		(1.2	%)		(3.1	%)		(0.8	%)		0.0	%		(0.2	%)		(0.1	%)		(0.2	%)		(0.1	%)		(0.2	%)		0.0	%		0.0	%
Exchange		(1.4	%)		2.8	%		5.2	%		4.1	%		(3.2	%)		(11.3	%)		(13.9	%)		(6.6	%)		(9.0	%)		(1.0	%)		6.9	%
Total Change in Net Sales		6.1	%		3.9	%		12.3	%		15.5	%		4.0	%		(7.1	%)		(5.0	%)		1.3	%		(4.0	%)		2.9	%		12.7	%
Total Organic Growth (a)		3.8	%		3.0	%		7.4	%		10.7	%		6.3	%		1.9	%		5.7	%		6.0	%		2.1	%		0.8	%		3.0	%
(a) Organic sales growth is a non-GAAP measure that excludes the impact of foreign currency exchange rates and acquisitions/divestitures.
** Fiscal 2007 had one less week than Fiscal 2006
Amounts have been restated for the disposals of the private label frozen desserts business in the U.K. as well as the Kabobs and Appetizers And, Inc. businesses in the U.S., which were all reported in discontinued operations in Fiscal 2010.
(Totals may not add due to rounding)

H. J. Heinz Company
Consolidated Balance Sheets
(Unaudited)
(In millions)		2006		2007		2008		2009	Q310
Current assets:
Cash and cash equivalents	$	445.4	$	652.9	$	617.7	$	373.1	$	562.3
Trade receivables, net		773.8		812.2		919.4		881.2		784.9
Other receivables, net		228.3		184.7		242.1		290.6		293.8
Inventories		1,073.7		1,198.0		1,378.2		1,237.6		1,376.2
Prepaid expenses		139.7		132.6		139.5		125.8		131.8
Other current assets		43.0		38.7		28.7		36.7		107.7
Total current assets		2,703.9		3,019.0		3,325.6		2,945.0		3,256.6
Property, plant and equipment, net		1,900.6		1,998.2		2,104.7		1,978.3		2,058.6
Other non-current assets:
Goodwill		2,822.6		2,834.6		2,997.5		2,687.8		2,826.8
Trademarks, net		776.9		892.7		957.1		889.8		918.2
Other intangibles, net		269.6		412.5		456.9		405.4		415.4
Long-term restricted cash		-		-		-		192.7		-
Other non-current assets		1,264.3		876.0		723.2		565.2		595.6
Total other non-current assets		5,133.3		5,015.9		5,134.8		4,740.9		4,756.0
Total assets	$	9,737.8	$	10,033.0	$	10,565.0	$	9,664.2	$	10,071.2
Current liabilities:
Short-term debt	$	54.1	$	165.1	$	124.3	$	61.3	$	43.6
Portion of long-term debt due within one year		0.9		303.2		328.4		4.3		4.9
Trade payables		879.5		972.5		1,125.0		955.4		917.8
Other payables		155.6		208.6		122.5		157.9		135.0
Salaries and wages		84.8		85.8		92.6		91.3		89.4
Accrued marketing		216.3		262.2		298.3		233.3		318.1
Other accrued liabilities		476.7		414.1		487.7		485.4		491.0
Income taxes		150.4		93.6		91.3		73.9		88.7
Total current liabilities		2,018.2		2,505.1		2,670.1		2,062.8		2,088.5
Long-term debt and other liabilities:
Long-term debt		4,357.0		4,413.6		4,730.9		5,076.2		4,764.2
Deferred income taxes		518.7		463.7		409.2		345.7		533.7
Other liabilities		674.8		710.6		801.3		900.3		794.6
Total long-term debt and other liabilities		5,550.6		5,587.9		5,941.4		6,322.2		6,092.5
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		665.7
Retained earnings		5,454.1		5,778.6		6,129.0		6,525.7		6,798.0
Less:
Treasury shares, at cost		3,852.2		4,406.1		4,905.8		4,881.8		4,818.3
Unearned compensation		32.8		-		-		-		-
Accumulated other comprehensive loss		130.4		219.3		61.1		1,269.7		929.6
Total H.J. Heinz Company shareholders'equity		2,048.8		1,841.7		1,887.8		1,219.9		1,823.7
Noncontrolling interest		120.2		98.3		65.7		59.2		66.5
Total shareholders' equity		2,169.0		1,940.0		1,953.5		1,279.1		1,890.1
Total liabilities and shareholder's equity	$	9,737.8	$	10,033.0	$	10,565.0	$	9,664.2	$	10,071.2
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)
Fiscal 2010: Kabobs (D- U.S.), U.K. private label frozen desserts (D- U.K.), Appetizers And (D- U.S.), Arthur's Fresh (A- Canada)
(Totals may not add due to rounding)

H. J. Heinz Company
Consolidated Statements of Cash Flows
(Unaudited)
(In Millions)	2006 (a)(b)				2007 (b)			2008 (b)			2009 (b)		Nine Mo. FY10 (b)
Cash Flows from Operating Activities
Net income	$	651.3		$	800.0		$	856.5		$	938.0		$	687.6
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation		227.5			233.4			250.8			241.3			183.9
Amortization		36.4			32.8			38.1			40.1			35.5
Deferred tax (benefit)/provision		(57.7	)		52.2			18.5			109.0			204.2
Other items, net		81.3			(4.6	)		(4.9	)		(225.2	)		(95.7	)
Changes in current assets and liabilities, excluding effects of acquisitions and divestitures:
Receivables securitization facility		-			-			-			-			146.8
Receivables		115.6			11.0			(55.8	)		(10.9	)		11.1
Inventories		(47.4	)		(82.5	)		(133.6	)		50.7			(81.2	)
Prepaid expenses and other current assets		13.6			14.2			5.7			1.0			6.2
Accounts payable		56.5			56.5			89.2			(62.9	)		(112.5	)
Accrued liabilities		57.4			(4.5	)		28.3			24.6			61.2
Income taxes		(59.5	)		(46.3	)		95.6			61.2			(45.1	)
Cash provided by operating activities		1,075.0			1,062.3			1,188.3			1,166.9			1,002.1
Investing activities:
Capital expenditures		(230.6	)		(244.6	)		(301.6	)		(292.1	)		(150.4	)
Proceeds from disposals of property, plant and equipment		19.4			60.7			8.5			5.4			1.3
Operating Free Cash Flow		863.8			878.4			895.2			880.2			853.0
Acquisitions, net of cash acquired		(1,100.4	)		(89.0	)		(151.6	)		(293.9	)		(73.4	)
Net proceeds/(payments) related to divestitures		856.7			(4.1	)		63.5			13.4			18.4
Change in restricted cash		-			-			-			(192.7	)		192.7
Other items, net		3.1			(49.2	)		(173.0	)		(1.2	)		(5.3	)
Cash used for investing activities		(451.8	)		(326.2	)		(554.2	)		(761.2	)		(16.6	)
Financing activities:
Payments on long-term debt		(727.8	)		(52.1	)		(368.2	)		(427.4	)		(622.7	)
Proceeds from long-term debt		230.8			-			-			853.1			440.1
Proceeds/(payments) from commercial paper and short-term debt, net		298.5			384.1			483.7			(483.7	)		(253.2	)
Dividends		(408.2	)		(461.2	)		(485.2	)		(525.3	)		(399.6	)
Purchase of treasury stock		(823.4	)		(760.7	)		(580.7	)		(181.4	)		-
Exercise of stock options		142.0			259.8			78.6			264.9			22.5
Other items, net		18.5			9.2			113.7			(16.5	)		9.3
Cash used for financing activities		(1,269.4	)		(620.9	)		(758.1	)		(516.3	)		(803.6	)
Cash provided by operating activities of discontinued operations spun-off to Del Monte		13.3			33.5			-			-			-
Effect of exchange rate changes on cash and cash equivalents		(5.4	)		58.8			88.8			(133.9	)		7.2
Net (decrease)/increase in cash and cash equivalents		(638.3	)		207.5			(35.2	)		(244.5	)		189.2
Cash and cash equivalents at beginning of year		1,083.7			445.4			652.9			617.7			373.1
Cash and cash equivalents at end of year	$	445.4		$	652.9		$	617.7		$	373.1		$	562.3
(a) Includes amounts from the European seafood and Tegel® poultry businesses that were discontinued in Fiscal 2006.
(b) Includes amounts from the Kabobs business that was discontinued in the second quarter of Fiscal 2010 and the U.K. private label frozen desserts and Appetizers And businesses which were discontinued in the third quarter of Fiscal 2010.
(Totals may not add due to rounding)