Post on 20-Dec-2015
description
GAAP to Non-GAAP Reconciliation
Net Revenues to Organic Net RevenuesFor the Three Months Ended
($ in millions, except percentages) (Unaudited)
% Change
June 30, 2010
Kraft Foods Europe 2,793 - (662) 52 2,183 34.1% 5.2%
June 30, 2009
Kraft Foods Europe 2,083 (7) - - 2,076
March 31, 2010
Kraft Foods Europe 2,709 - (589) (151) 1,969 40.5% 2.5%
March 31, 2009
Kraft Foods Europe 1,928 (7) - - 1,921
December 31, 2009
Kraft Foods Europe 2,687 - - (225) 2,462 8.0% (0.3)%
December 31, 2008
Kraft Foods Europe 2,489 (20) - - 2,469
September 30, 2009
Kraft Foods Europe 2,070 (1) - 199 2,268 (11.5)% (0.8)%
September 30, 2008
Kraft Foods Europe 2,338 (52) - - 2,286
June 30, 2009
Kraft Foods Europe 2,083 (7) - 376 2,452 (17.4)% 0.4%
June 30, 2008
Kraft Foods Europe 2,521 (79) - - 2,442
As Reported (GAAP)
Impact of Divestitures
Impact of Acquisitions
Impact of Currency
Organic (Non-GAAP)
As Reported (GAAP)
Organic (Non-GAAP)
GAAP to Non-GAAP Reconciliation
Operating Income Margins($ in millions, except percentages) (Unaudited)
Kraft Foods EuropeNet Revenues $ 2,338 - - - $ 2,338 Operating Income $ 115 35 57 - $ 207
Operating Income Margin 4.9% 8.9%
Kraft Foods EuropeNet Revenues $ 2,489 - - - $ 2,489 Operating Income $ (166) 358 39 (1) $ 230
Operating Income Margin (6.7)% 9.2%
Integration Costs Cadbury
Kraft Foods EuropeNet revenues $ 2,709 $ - $ - $ (589) $ 2,120 Operating Income $ 289 $ 1 $ 23 $ (88) $ 225
Operating Income Margin 10.7% 10.6%
Kraft Foods EuropeNet revenues $ 2,793 $ - $ - $ (662) $ 2,131 Operating Income $ 335 $ 33 $ - $ (107) $ 261
Operating Income Margin 12.0% 12.2%
(1) Acquisition-related costs include transaction advisory fees, U.K. stamp taxes and the impact of the Cadbury inventory revaluation.
As Reported (GAAP)
Asset Impairment, Exit and Implementation
Costs - Restructuring
Asset Impairments / Other Expenses - Non-Restructuring
(Gains) / Losses on Divestitures, net
Excluding Items (Non-GAAP)
For the Three Months Ended September 30, 2008
For the Three Months Ended December 31, 2008
As Reported (GAAP)
Acquisition-Related Costs (1)
Base Kraft Foods (Non-
GAAP)
For the Three Months Ended March 31, 2010
For the Three Months Ended June 30, 2010
Cash FlowsFor the Twelve Months Ending December 31,
Kraft Foods Inc.2007 2008 2009
$ 3.6 $ 4.1 $ 5.1
(1.2) (1.4) (1.3)
$ 2.3 $ 2.8 $ 3.8
GAAP to Non-GAAP Reconciliation
Net Revenues Growth(Unaudited)
Kraft Foods Inc.
For the Twelve Months Ended:
December 31, 2007 8.6% (0.6)pp 0.8pp 3.1pp 5.3%
December 31, 2008 16.9% (0.8)pp 8.9pp 2.0pp 6.8%
December 31, 2009 (3.7)% (0.7)pp 0.0pp (4.5)pp 1.5%
Compound Annual Growth Rate, 2006 - 2009: 6.9% 4.5%
As Reported (GAAP)(1)
Impact of Divestitures /
OtherImpact of
AcquisitionsImpact of Currency
Organic (Non-GAAP)
(1) Includes the results of the frozen pizza business
GAAP to Non-GAAP Reconciliation
Net Revenues Growth(Unaudited)
Kraft Foods Developing Markets
For the Twelve Months Ended:
December 31, 2007 18.0% 0.0pp 0.2pp
December 31, 2008 38.0% (0.1)pp 4.7pp
December 31, 2009 (3.5)% (0.5)pp 0.0pp
Compound Annual Growth Rate, 2006 - 2009: 16.3%
As Reported (GAAP)
Impact of Divestitures /
OtherImpact of
Acquisitions
GAAP to Non-GAAP Reconciliation
Net Revenues Growth(Unaudited)
Kraft Foods Developing Markets
6.5pp 11.3%
15.9pp 17.5%
(12.9)pp 9.9%
12.9%
Impact of Currency
Organic (Non-GAAP)