Exhibit 99.1
Selected Financial Data—Five-Year Review(in millions of dollars, except per share data)
2007 | 2006 | 2005 | 2004 | 2003 | ||||||
Summary of Operations: | ||||||||||
Net revenues | $18,664 | $18,790 | $18,452 | $17,901 | $17,424 | |||||
Cost of sales | 7,827 | 7,387 | 7,274 | 6,956 | 6,649 | |||||
Excise taxes on products | 3,452 | 3,617 | 3,659 | 3,694 | 3,698 | |||||
Operating income | 4,373 | 4,518 | 4,104 | 4,082 | 3,696 | |||||
Interest and other debt expense, net | 205 | 225 | 427 | 506 | 502 | |||||
Equity earnings in SABMiller | 510 | 460 | 446 | 507 | 296 | |||||
Earnings from continuing operations before income taxes | 4,678 | 4,753 | 4,123 | 4,083 | 3,490 | |||||
Pre-tax profit margin from continuing operations | 25.1% | 25.3% | 22.3% | 22.8% | 20.0% | |||||
Provision for income taxes | 1,547 | 1,571 | 1,574 | 1,502 | 1,199 | |||||
Earnings from continuing operations | 3,131 | 3,182 | 2,549 | 2,581 | 2,291 | |||||
Earnings from discontinued operations, net of income taxes and minority interest | 6,655 | 8,840 | 7,886 | 6,835 | 6,913 | |||||
Net earnings | 9,786 | 12,022 | 10,435 | 9,416 | 9,204 | |||||
Basic earnings per share - continuing operations | 1.49 | 1.52 | 1.23 | 1.26 | 1.13 | |||||
- discontinued operations | 3.17 | 4.24 | 3.81 | 3.34 | 3.41 | |||||
- net earnings | 4.66 | 5.76 | 5.04 | 4.60 | 4.54 | |||||
Diluted earnings per share - continuing operations | 1.48 | 1.51 | 1.22 | 1.25 | 1.12 | |||||
- discontinued operations | 3.14 | 4.20 | 3.77 | 3.31 | 3.40 | |||||
- net earnings | 4.62 | 5.71 | 4.99 | 4.56 | 4.52 | |||||
Dividends declared per share | 3.05 | 3.32 | 3.06 | 2.82 | 2.64 | |||||
Weighted average shares (millions) - Basic | 2,101 | 2,087 | 2,070 | 2,047 | 2,028 | |||||
Weighted average shares (millions) - Diluted | 2,116 | 2,105 | 2,090 | 2,063 | 2,038 | |||||
Capital expenditures | 386 | 399 | 299 | 243 | 303 | |||||
Depreciation | 232 | 255 | 269 | 269 | 257 | |||||
Property, plant and equipment, net (consumer products) | 2,422 | 2,343 | 2,259 | 2,278 | 2,400 | |||||
Inventories (consumer products) | 1,254 | 1,605 | 1,821 | 1,780 | 1,924 | |||||
Total assets | 57,211 | 104,270 | 107,949 | 101,648 | 96,175 | |||||
Total long-term debt | 2,385 | 5,195 | 6,459 | 8,960 | 9,571 | |||||
Total debt - consumer products | 4,239 | 4,580 | 6,462 | 7,740 | 9,223 | |||||
- financial services | 500 | 1,119 | 2,014 | 2,221 | 2,210 | |||||
Stockholders’ equity | 18,554 | 39,619 | 35,707 | 30,714 | 25,077 | |||||
Common dividends declared as a % of Basic EPS | 65.5% | 57.6% | 60.7% | 61.3% | 58.1% | |||||
Common dividends declared as a % of Diluted EPS | 66.0% | 58.1% | 61.3% | 61.8% | 58.4% | |||||
Book value per common share outstanding | 8.80 | 18.89 | 17.13 | 14.91 | 12.31 | |||||
Market price per common share - high/low | 90.50-63.13 | 86.45-68.36 | 78.68-60.40 | 61.88-44.50 | 55.03-27.70 | |||||
Closing price of common share at year end | 75.58 | 85.82 | 74.72 | 61.10 | 54.42 | |||||
Price/earnings ratio at year end - Basic | 16 | 15 | 15 | 13 | 12 | |||||
Price/earnings ratio at year end - Diluted | 16 | 15 | 15 | 13 | 12 | |||||
Number of common shares outstanding at year end (millions) | 2,108 | 2,097 | 2,084 | 2,060 | 2,037 | |||||
Number of employees | 84,000 | 175,000 | 199,000 | 156,000 | 165,000 |