SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to
Section 13 or 15(d) of the
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 24, 2006
KRAFT FOODS INC.
(Exact name of registrant as specified in its charter)
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Virginia |
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001-16483 |
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52-2284372 |
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(State or other jurisdiction |
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(Commission |
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(I.R.S. Employer |
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of incorporation) |
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File Number) |
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Identification No.) |
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Three Lakes Drive, Northfield, Illinois |
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60093-2753 |
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(Address of Principal executive offices) |
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(Zip Code) |
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Registrant’s Telephone number, including area code: (847) 646-2000
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.02. Results of Operations and Financial Conditions; Item 7.01. Regulation FD Disclosure; and Item 8.01. Other Events.
As disclosed in Kraft Foods Inc.’s (the “Company”) Annual Report on Form 10-K, filed with the SEC on March 10, 2006, the Company has announced certain organizational changes and realignments that result in changes to its business segment reporting structure, beginning in the first quarter of 2006.
These changes are:
• To better integrate the Canadian business into the Company’s North American Business by product category, the operating results of the Company’s Canadian business will be reported throughout the North American food segments.
• Reflecting a reorganization within Europe, the operating results of the Company’s international businesses will be reported in two revised segments—European Union; and Developing Markets, Oceania and North Asia, the latter including the former Eastern Europe, Middle East and Africa, Latin America and Asia Pacific regions.
Attached as Exhibit 99.1 to this Current Report on Form 8-K are the Company’s unaudited financial schedules which provide information regarding volume, net revenues and operating companies income for 2003, 2004 and 2005, reconciling the prior reporting segments structure with the new reporting segments structure. All amounts are reported figures in accordance with U.S. GAAP, including all restructuring and impairment charges.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
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The following exhibit is being filed with this Current Report on Form 8-K: |
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99.1 |
Financial Schedules |
2
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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KRAFT FOODS INC. |
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/s/ James P. Dollive |
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Name: |
James P. Dollive |
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Title: |
Executive
Vice President and |
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Date: March 24, 2006
3
EXHIBIT INDEX
|
Exhibit |
|
Description |
|
|
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|
|
99.1 |
|
Financial Schedules |
4
Exhibit 99.1
KRAFT FOODS INC.
and Subsidiaries
Segment Realignment - Volume
Full Year 2003 and Quarterly 2004
(lbs in millions)
(Unaudited)
|
|
|
2003 |
|
2004 |
|
||||||||
|
|
|
Year |
|
Q1 |
|
Q2 |
|
Q3 |
|
Q4 |
|
Year |
|
|
Volume (lbs)- As Reported |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Beverages |
|
2,634 |
|
666 |
|
907 |
|
738 |
|
657 |
|
2,968 |
|
|
U.S. Cheese, Canada & North America Foodservice |
|
4,373 |
|
1,079 |
|
1,147 |
|
1,069 |
|
1,232 |
|
4,527 |
|
|
U.S. Convenient Meals |
|
2,171 |
|
555 |
|
562 |
|
558 |
|
530 |
|
2,205 |
|
|
U.S. Grocery |
|
1,678 |
|
404 |
|
510 |
|
364 |
|
412 |
|
1,690 |
|
|
U.S. Snacks & Cereals |
|
2,389 |
|
582 |
|
597 |
|
613 |
|
632 |
|
2,424 |
|
|
Europe, Middle East & Africa |
|
2,953 |
|
654 |
|
729 |
|
695 |
|
837 |
|
2,915 |
|
|
Latin America & Asia Pacific |
|
2,295 |
|
501 |
|
589 |
|
542 |
|
641 |
|
2,273 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Volume (lbs)- As Reported |
|
18,493 |
|
4,441 |
|
5,041 |
|
4,579 |
|
4,941 |
|
19,002 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Segment Realignment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Cheese, Canada & North America Foodservice |
|
(1,300 |
) |
(316 |
) |
(331 |
) |
(293 |
) |
(356 |
) |
(1,296 |
) |
|
Beverages |
|
220 |
|
62 |
|
61 |
|
47 |
|
53 |
|
223 |
|
|
Convenient Meals |
|
131 |
|
28 |
|
32 |
|
31 |
|
35 |
|
126 |
|
|
Grocery |
|
725 |
|
176 |
|
180 |
|
162 |
|
205 |
|
723 |
|
|
Snacks & Cereals |
|
224 |
|
50 |
|
58 |
|
53 |
|
63 |
|
224 |
|
|
European Union (from EMEA) |
|
(553 |
) |
(118 |
) |
(151 |
) |
(150 |
) |
(163 |
) |
(582 |
) |
|
Developing Markets, Oceania & North Asia (from LAAP) |
|
553 |
|
118 |
|
151 |
|
150 |
|
163 |
|
582 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Volume (lbs)- Restated |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beverages |
|
2,854 |
|
728 |
|
968 |
|
785 |
|
710 |
|
3,191 |
|
|
Cheese & Foodservice |
|
3,073 |
|
763 |
|
816 |
|
776 |
|
876 |
|
3,231 |
|
|
Convenient Meals |
|
2,302 |
|
583 |
|
594 |
|
589 |
|
565 |
|
2,331 |
|
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Grocery |
|
2,403 |
|
580 |
|
690 |
|
526 |
|
617 |
|
2,413 |
|
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Snacks & Cereals |
|
2,613 |
|
632 |
|
655 |
|
666 |
|
695 |
|
2,648 |
|
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European Union |
|
2,400 |
|
536 |
|
578 |
|
545 |
|
674 |
|
2,333 |
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Developing Markets, Oceania & North Asia |
|
2,848 |
|
619 |
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740 |
|
692 |
|
804 |
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2,855 |
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|
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|
|
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|
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Volume (lbs)- Restated |
|
18,493 |
|
4,441 |
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5,041 |
|
4,579 |
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4,941 |
|
19,002 |
|
KRAFT FOODS INC.
and Subsidiaries
Segment Realignment - Net Revenues
Full Year 2003 and Quarterly 2004
($ in millions)
(Unaudited)
|
|
|
2003 |
|
2004 |
|
||||||||||||||
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|
|
Year |
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Q1 |
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Q2 |
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Q3 |
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Q4 |
|
Year |
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||||||
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Net Revenues - As Reported |
|
|
|
|
|
|
|
|
|
|
|
|
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||||||
|
U.S. Beverages |
|
$ |
2,433 |
|
$ |
671 |
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$ |
683 |
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$ |
607 |
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$ |
594 |
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$ |
2,555 |
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|
U.S. Cheese, Canada & North America Foodservice |
|
6,716 |
|
1,708 |
|
1,838 |
|
1,788 |
|
2,086 |
|
7,420 |
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||||||
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U.S. Convenient Meals |
|
4,058 |
|
1,048 |
|
1,053 |
|
1,088 |
|
1,061 |
|
4,250 |
|
||||||
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U.S. Grocery |
|
2,388 |
|
591 |
|
689 |
|
520 |
|
625 |
|
2,425 |
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||||||
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U.S. Snacks & Cereals |
|
5,342 |
|
1,274 |
|
1,333 |
|
1,368 |
|
1,435 |
|
5,410 |
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||||||
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Europe, Middle East & Africa |
|
7,014 |
|
1,713 |
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1,812 |
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1,736 |
|
2,261 |
|
7,522 |
|
||||||
|
Latin America & Asia Pacific |
|
2,547 |
|
570 |
|
683 |
|
611 |
|
722 |
|
2,586 |
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||||||
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|
|
|
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|
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||||||
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Net Revenues - As Reported |
|
$ |
30,498 |
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$ |
7,575 |
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$ |
8,091 |
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$ |
7,718 |
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$ |
8,784 |
|
$ |
32,168 |
|
|
|
|
|
|
|
|
|
|
|
|
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|
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||||||
|
Segment Realignment |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
U.S. Cheese, Canada & North America Foodservice |
|
$ |
(1,317 |
) |
$ |
(317 |
) |
$ |
(362 |
) |
$ |
(320 |
) |
$ |
(400 |
) |
$ |
(1,399 |
) |
|
Beverages |
|
172 |
|
47 |
|
51 |
|
39 |
|
50 |
|
187 |
|
||||||
|
Convenient Meals |
|
186 |
|
43 |
|
47 |
|
47 |
|
58 |
|
195 |
|
||||||
|
Grocery |
|
554 |
|
130 |
|
157 |
|
131 |
|
166 |
|
584 |
|
||||||
|
Snacks & Cereals |
|
405 |
|
97 |
|
107 |
|
103 |
|
126 |
|
433 |
|
||||||
|
European Union (from EMEA) |
|
(892 |
) |
(196 |
) |
(249 |
) |
(259 |
) |
(314 |
) |
(1,018 |
) |
||||||
|
Developing Markets, Oceania & North Asia (from LAAP) |
|
892 |
|
196 |
|
249 |
|
259 |
|
314 |
|
1,018 |
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Net Revenues - Restated |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Beverages |
|
$ |
2,605 |
|
$ |
718 |
|
$ |
734 |
|
$ |
646 |
|
$ |
644 |
|
$ |
2,742 |
|
|
Cheese & Foodservice |
|
5,399 |
|
1,391 |
|
1,476 |
|
1,468 |
|
1,686 |
|
6,021 |
|
||||||
|
Convenient Meals |
|
4,244 |
|
1,091 |
|
1,100 |
|
1,135 |
|
1,119 |
|
4,445 |
|
||||||
|
Grocery |
|
2,942 |
|
721 |
|
846 |
|
651 |
|
791 |
|
3,009 |
|
||||||
|
Snacks & Cereals |
|
5,747 |
|
1,371 |
|
1,440 |
|
1,471 |
|
1,561 |
|
5,843 |
|
||||||
|
European Union |
|
6,122 |
|
1,517 |
|
1,563 |
|
1,477 |
|
1,947 |
|
6,504 |
|
||||||
|
Developing Markets, Oceania & North Asia |
|
3,439 |
|
766 |
|
932 |
|
870 |
|
1,036 |
|
3,604 |
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Net Revenues - Restated |
|
$ |
30,498 |
|
$ |
7,575 |
|
$ |
8,091 |
|
$ |
7,718 |
|
$ |
8,784 |
|
$ |
32,168 |
|
KRAFT FOODS INC.
and Subsidiaries
Segment Realignment - Operating Companies Income
Full Year 2003 and Quarterly 2004
($ in millions)
(Unaudited)
|
|
|
2003 |
|
2004 |
|
||||||||||||||
|
|
|
Year |
|
Q1 |
|
Q2 |
|
Q3 |
|
Q4 |
|
Year |
|
||||||
|
Operating Companies Income - As Reported |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
U.S. Beverages |
|
$ |
630 |
|
$ |
169 |
|
$ |
139 |
|
$ |
118 |
|
$ |
53 |
|
$ |
479 |
|
|
U.S. Cheese, Canada & North America Foodservice |
|
1,271 |
|
203 |
|
215 |
|
279 |
|
292 |
|
989 |
|
||||||
|
U.S. Convenient Meals |
|
817 |
|
197 |
|
187 |
|
209 |
|
178 |
|
771 |
|
||||||
|
U.S. Grocery |
|
894 |
|
212 |
|
268 |
|
196 |
|
218 |
|
894 |
|
||||||
|
U.S. Snacks & Cereals |
|
1,046 |
|
52 |
|
225 |
|
254 |
|
206 |
|
737 |
|
||||||
|
Europe, Middle East & Africa |
|
1,002 |
|
155 |
|
140 |
|
167 |
|
221 |
|
683 |
|
||||||
|
Latin America & Asia Pacific |
|
391 |
|
33 |
|
81 |
|
57 |
|
79 |
|
250 |
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Operating Companies Income - As Reported |
|
$ |
6,051 |
|
$ |
1,021 |
|
$ |
1,255 |
|
$ |
1,280 |
|
$ |
1,247 |
|
$ |
4,803 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Segment Realignment |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
U.S. Cheese, Canada & North America Foodservice |
|
$ |
(257 |
) |
$ |
(34 |
) |
$ |
(39 |
) |
$ |
(63 |
) |
$ |
(60 |
) |
$ |
(196 |
) |
|
Beverages |
|
24 |
|
5 |
|
(18 |
) |
2 |
|
1 |
|
(10 |
) |
||||||
|
Convenient Meals |
|
46 |
|
6 |
|
5 |
|
9 |
|
9 |
|
29 |
|
||||||
|
Grocery |
|
122 |
|
18 |
|
44 |
|
42 |
|
25 |
|
129 |
|
||||||
|
Snacks & Cereals |
|
65 |
|
5 |
|
8 |
|
10 |
|
25 |
|
48 |
|
||||||
|
European Union (from EMEA) |
|
(61 |
) |
5 |
|
(13 |
) |
(15 |
) |
30 |
|
7 |
|
||||||
|
Developing Markets, Oceania & North Asia (from LAAP) |
|
61 |
|
(5 |
) |
13 |
|
15 |
|
(30 |
) |
(7 |
) |
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Operating Companies Income - Restated |
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Beverages |
|
$ |
654 |
|
$ |
174 |
|
$ |
121 |
|
$ |
120 |
|
$ |
54 |
|
$ |
469 |
|
|
Cheese & Foodservice |
|
1,014 |
|
169 |
|
176 |
|
216 |
|
232 |
|
793 |
|
||||||
|
Convenient Meals |
|
863 |
|
203 |
|
192 |
|
218 |
|
187 |
|
800 |
|
||||||
|
Grocery |
|
1,016 |
|
230 |
|
312 |
|
238 |
|
243 |
|
1,023 |
|
||||||
|
Snacks & Cereals |
|
1,111 |
|
57 |
|
233 |
|
264 |
|
231 |
|
785 |
|
||||||
|
European Union |
|
941 |
|
160 |
|
127 |
|
152 |
|
251 |
|
690 |
|
||||||
|
Developing Markets, Oceania & North Asia |
|
452 |
|
28 |
|
94 |
|
72 |
|
49 |
|
243 |
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
|
Operating Companies Income - Restated |
|
$ |
6,051 |
|
$ |
1,021 |
|
$ |
1,255 |
|
$ |
1,280 |
|
$ |
1,247 |
|
$ |
4,803 |
|
KRAFT FOODS INC.
and Subsidiaries
Segment Realignment - Volume
Quarterly 2005
(lbs in millions)
(Unaudited)
|
|
|
Q1 |
|
Q2 |
|
Q3 |
|
Q4 |
|
Year |
|
|
2005 Volume (lbs)- As Reported |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Beverages |
|
749 |
|
876 |
|
784 |
|
700 |
|
3,109 |
|
|
U.S. Cheese, Canada & North America Foodservice |
|
1,082 |
|
1,101 |
|
1,037 |
|
1,273 |
|
4,493 |
|
|
U.S. Convenient Meals |
|
555 |
|
571 |
|
559 |
|
582 |
|
2,267 |
|
|
U.S. Grocery |
|
411 |
|
495 |
|
364 |
|
439 |
|
1,709 |
|
|
U.S. Snacks & Cereals |
|
591 |
|
612 |
|
622 |
|
684 |
|
2,509 |
|
|
Europe, Middle East & Africa |
|
662 |
|
700 |
|
663 |
|
837 |
|
2,862 |
|
|
Latin America & Asia Pacific |
|
496 |
|
566 |
|
564 |
|
637 |
|
2,263 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2005 Volume (lbs)- As Reported |
|
4,546 |
|
4,921 |
|
4,593 |
|
5,152 |
|
19,212 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment Realignment |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Cheese, Canada & North America Foodservice |
|
(294 |
) |
(324 |
) |
(290 |
) |
(358 |
) |
(1,266 |
) |
|
Beverages |
|
48 |
|
59 |
|
56 |
|
56 |
|
219 |
|
|
Convenient Meals |
|
30 |
|
31 |
|
32 |
|
38 |
|
131 |
|
|
Grocery |
|
167 |
|
177 |
|
147 |
|
198 |
|
689 |
|
|
Snacks & Cereals |
|
49 |
|
57 |
|
55 |
|
66 |
|
227 |
|
|
European Union (from EMEA) |
|
(132 |
) |
(162 |
) |
(149 |
) |
(173 |
) |
(616 |
) |
|
Developing Markets, Oceania & North Asia (from LAAP) |
|
132 |
|
162 |
|
149 |
|
173 |
|
616 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2005 Volume (lbs)- Restated |
|
|
|
|
|
|
|
|
|
|
|
|
Beverages |
|
797 |
|
935 |
|
840 |
|
756 |
|
3,328 |
|
|
Cheese & Foodservice |
|
788 |
|
777 |
|
747 |
|
915 |
|
3,227 |
|
|
Convenient Meals |
|
585 |
|
602 |
|
591 |
|
620 |
|
2,398 |
|
|
Grocery |
|
578 |
|
672 |
|
511 |
|
637 |
|
2,398 |
|
|
Snacks & Cereals |
|
640 |
|
669 |
|
677 |
|
750 |
|
2,736 |
|
|
European Union |
|
530 |
|
538 |
|
514 |
|
664 |
|
2,246 |
|
|
Developing Markets, Oceania & North Asia |
|
628 |
|
728 |
|
713 |
|
810 |
|
2,879 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2005 Volume (lbs)- Restated |
|
4,546 |
|
4,921 |
|
4,593 |
|
5,152 |
|
19,212 |
|
KRAFT FOODS INC.
and Subsidiaries
Segment Realignment - Net Revenues
Quarterly 2005
($ in millions)
(Unaudited)
|
|
|
Q1 |
|
Q2 |
|
Q3 |
|
Q4 |
|
Year |
|
|||||
|
2005 Net Revenues - As Reported |
|
|
|
|
|
|
|
|
|
|
|
|||||
|
U.S. Beverages |
|
$ |
732 |
|
$ |
713 |
|
$ |
671 |
|
$ |
736 |
|
$ |
2,852 |
|
|
U.S. Cheese, Canada & North America Foodservice |
|
1,816 |
|
1,875 |
|
1,819 |
|
2,264 |
|
7,774 |
|
|||||
|
U.S. Convenient Meals |
|
1,090 |
|
1,096 |
|
1,118 |
|
1,193 |
|
4,497 |
|
|||||
|
U.S. Grocery |
|
582 |
|
667 |
|
512 |
|
660 |
|
2,421 |
|
|||||
|
U.S. Snacks & Cereals |
|
1,333 |
|
1,400 |
|
1,431 |
|
1,585 |
|
5,749 |
|
|||||
|
Europe, Middle East & Africa |
|
1,888 |
|
1,907 |
|
1,798 |
|
2,406 |
|
7,999 |
|
|||||
|
Latin America & Asia Pacific |
|
618 |
|
676 |
|
708 |
|
819 |
|
2,821 |
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
2005 Net Revenues - As Reported |
|
$ |
8,059 |
|
$ |
8,334 |
|
$ |
8,057 |
|
$ |
9,663 |
|
$ |
34,113 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Segment Realignment |
|
|
|
|
|
|
|
|
|
|
|
|||||
|
U.S. Cheese, Canada & North America Foodservice |
|
$ |
(326 |
) |
$ |
(388 |
) |
$ |
(360 |
) |
$ |
(456 |
) |
$ |
(1,530 |
) |
|
Beverages |
|
40 |
|
58 |
|
46 |
|
60 |
|
204 |
|
|||||
|
Convenient Meals |
|
50 |
|
50 |
|
54 |
|
68 |
|
222 |
|
|||||
|
Grocery |
|
137 |
|
163 |
|
134 |
|
169 |
|
603 |
|
|||||
|
Snacks & Cereals |
|
99 |
|
117 |
|
126 |
|
159 |
|
501 |
|
|||||
|
European Union (from EMEA) |
|
(274 |
) |
(318 |
) |
(299 |
) |
(394 |
) |
(1,285 |
) |
|||||
|
Developing Markets, Oceania & North Asia (from LAAP) |
|
274 |
|
318 |
|
299 |
|
394 |
|
1,285 |
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
2005 Net Revenues - Restated |
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Beverages |
|
$ |
772 |
|
$ |
771 |
|
$ |
717 |
|
$ |
796 |
|
$ |
3,056 |
|
|
Cheese & Foodservice |
|
1,490 |
|
1,487 |
|
1,459 |
|
1,808 |
|
6,244 |
|
|||||
|
Convenient Meals |
|
1,140 |
|
1,146 |
|
1,172 |
|
1,261 |
|
4,719 |
|
|||||
|
Grocery |
|
719 |
|
830 |
|
646 |
|
829 |
|
3,024 |
|
|||||
|
Snacks & Cereals |
|
1,432 |
|
1,517 |
|
1,557 |
|
1,744 |
|
6,250 |
|
|||||
|
European Union |
|
1,614 |
|
1,589 |
|
1,499 |
|
2,012 |
|
6,714 |
|
|||||
|
Developing Markets, Oceania & North Asia |
|
892 |
|
994 |
|
1,007 |
|
1,213 |
|
4,106 |
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
2005 Net Revenues - Restated |
|
$ |
8,059 |
|
$ |
8,334 |
|
$ |
8,057 |
|
$ |
9,663 |
|
$ |
34,113 |
|
KRAFT FOODS INC.
and Subsidiaries
Segment Realignment - Operating Companies Income
Quarterly 2005
($ in millions)
(Unaudited)
|
|
|
Q1 |
|
Q2 |
|
Q3 |
|
Q4 |
|
Year |
|
|||||
|
2005 Operating Companies Income - As Reported |
|
|
|
|
|
|
|
|
|
|
|
|||||
|
U.S. Beverages |
|
$ |
163 |
|
$ |
126 |
|
$ |
105 |
|
$ |
64 |
|
$ |
458 |
|
|
U.S. Cheese, Canada & North America Foodservice |
|
251 |
|
287 |
|
252 |
|
228 |
|
1,018 |
|
|||||
|
U.S. Convenient Meals |
|
191 |
|
176 |
|
186 |
|
188 |
|
741 |
|
|||||
|
U.S. Grocery |
|
108 |
|
241 |
|
165 |
|
229 |
|
743 |
|
|||||
|
U.S. Snacks & Cereals |
|
197 |
|
228 |
|
240 |
|
206 |
|
871 |
|
|||||
|
Europe, Middle East & Africa |
|
253 |
|
160 |
|
163 |
|
222 |
|
798 |
|
|||||
|
Latin America & Asia Pacific |
|
40 |
|
87 |
|
89 |
|
108 |
|
324 |
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
2005 Operating Companies Income - As Reported |
|
$ |
1,203 |
|
$ |
1,305 |
|
$ |
1,200 |
|
$ |
1,245 |
|
$ |
4,953 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Segment Realignment |
|
|
|
|
|
|
|
|
|
|
|
|||||
|
U.S. Cheese, Canada & North America Foodservice |
|
$ |
(32 |
) |
$ |
(56 |
) |
$ |
(58 |
) |
$ |
49 |
|
$ |
(97 |
) |
|
Beverages |
|
(1 |
) |
0 |
|
1 |
|
5 |
|
5 |
|
|||||
|
Convenient Meals |
|
7 |
|
8 |
|
12 |
|
25 |
|
52 |
|
|||||
|
Grocery |
|
24 |
|
38 |
|
32 |
|
(113 |
) |
(19 |
) |
|||||
|
Snacks & Cereals |
|
2 |
|
10 |
|
13 |
|
34 |
|
59 |
|
|||||
|
European Union (from EMEA) |
|
(8 |
) |
(18 |
) |
(20 |
) |
(30 |
) |
(76 |
) |
|||||
|
Developing Markets, Oceania & North Asia (from LAAP) |
|
8 |
|
18 |
|
20 |
|
30 |
|
76 |
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
2005 Operating Companies Income - Restated |
|
|
|
|
|
|
|
|
|
|
|
|||||
|
Beverages |
|
$ |
162 |
|
$ |
126 |
|
$ |
106 |
|
$ |
69 |
|
$ |
463 |
|
|
Cheese & Foodservice |
|
219 |
|
231 |
|
194 |
|
277 |
|
921 |
|
|||||
|
Convenient Meals |
|
198 |
|
184 |
|
198 |
|
213 |
|
793 |
|
|||||
|
Grocery |
|
132 |
|
279 |
|
197 |
|
116 |
|
724 |
|
|||||
|
Snacks & Cereals |
|
199 |
|
238 |
|
253 |
|
240 |
|
930 |
|
|||||
|
European Union |
|
245 |
|
142 |
|
143 |
|
192 |
|
722 |
|
|||||
|
Developing Markets, Oceania & North Asia |
|
48 |
|
105 |
|
109 |
|
138 |
|
400 |
|
|||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||
|
2005 Operating Companies Income - Restated |
|
$ |
1,203 |
|
$ |
1,305 |
|
$ |
1,200 |
|
$ |
1,245 |
|
$ |
4,953 |
|
KRAFT FOODS INC.
and Subsidiaries
Volume by Business Segment
For the Years Ended December 31,
(pounds in millions)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Kraft |
|
|
|
Developing |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
North |
|
|
|
Markets, |
|
Kraft |
|
|
|
|
|
|
|
|
Cheese & |
|
Convenient |
|
|
|
Snacks & |
|
America |
|
European |
|
Oceania & |
|
Int’l |
|
Total |
|
|
|
|
Beverages |
|
Foodservice |
|
Meals |
|
Grocery |
|
Cereals |
|
Commercial |
|
Union |
|
North Asia |
|
Commercial |
|
Kraft |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Volume |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2004 Volume |
|
3,191 |
|
3,231 |
|
2,331 |
|
2,413 |
|
2,648 |
|
13,814 |
|
2,333 |
|
2,855 |
|
5,188 |
|
19,002 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2003 Volume |
|
2,854 |
|
3,073 |
|
2,302 |
|
2,403 |
|
2,613 |
|
13,245 |
|
2,400 |
|
2,848 |
|
5,248 |
|
18,493 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
% Change |
|
11.8 |
% |
5.1 |
% |
1.3 |
% |
0.4 |
% |
1.3 |
% |
4.3 |
% |
(2.8 |
)% |
0.2 |
% |
(1.1 |
)% |
2.8 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Divested Businesses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- Divested Businesses - 2004 |
|
— |
|
(123 |
) |
— |
|
(37 |
) |
— |
|
(160 |
) |
(38 |
) |
(1 |
) |
(39 |
) |
(199 |
) |
|
- Divested Businesses - 2003 |
|
— |
|
(144 |
) |
— |
|
(43 |
) |
— |
|
(187 |
) |
(85 |
) |
(2 |
) |
(87 |
) |
(274 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ongoing Volume - Including Acquisitions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2004 Volume |
|
3,191 |
|
3,108 |
|
2,331 |
|
2,376 |
|
2,648 |
|
13,654 |
|
2,295 |
|
2,854 |
|
5,149 |
|
18,803 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2003 Volume |
|
2,854 |
|
2,929 |
|
2,302 |
|
2,360 |
|
2,613 |
|
13,058 |
|
2,315 |
|
2,846 |
|
5,161 |
|
18,219 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
% Change |
|
11.8 |
% |
6.1 |
% |
1.3 |
% |
0.7 |
% |
1.3 |
% |
4.6 |
% |
(0.9 |
)% |
0.3 |
% |
(0.2 |
)% |
3.2 |
% |
KRAFT FOODS INC.
and Subsidiaries
Net Revenues by Business Segment
For the Years Ended December 31,
($ in millions)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Kraft |
|
|
|
Developing |
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
North |
|
|
|
Markets, |
|
Kraft |
|
|
|
||||||||||
|
|
|
|
|
Cheese & |
|
Convenient |
|
|
|
Snacks & |
|
America |
|
European |
|
Oceania & |
|
Int’l |
|
Total |
|
||||||||||
|
|
|
Beverages |
|
Foodservice |
|
Meals |
|
Grocery |
|
Cereals |
|
Commercial |
|
Union |
|
North Asia |
|
Commercial |
|
Kraft |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
2004 Net Revenues |
|
$ |
2,742 |
|
$ |
6,021 |
|
$ |
4,445 |
|
$ |
3,009 |
|
$ |
5,843 |
|
$ |
22,060 |
|
$ |
6,504 |
|
$ |
3,604 |
|
$ |
10,108 |
|
$ |
32,168 |
|
|
2003 Net Revenues |
|
2,605 |
|
5,399 |
|
4,244 |
|
2,942 |
|
5,747 |
|
20,937 |
|
6,122 |
|
3,439 |
|
9,561 |
|
30,498 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
% Change |
|
5.3 |
% |
11.5 |
% |
4.7 |
% |
2.3 |
% |
1.7 |
% |
5.4 |
% |
6.2 |
% |
4.8 |
% |
5.7 |
% |
5.5 |
% |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Reconciliation: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
2003 Net Revenues |
|
$ |
2,605 |
|
$ |
5,399 |
|
$ |
4,244 |
|
$ |
2,942 |
|
$ |
5,747 |
|
$ |
20,937 |
|
$ |
6,122 |
|
$ |
3,439 |
|
$ |
9,561 |
|
$ |
30,498 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Divested Businesses - 2003 |
|
— |
|
(109 |
) |
— |
|
(96 |
) |
— |
|
(205 |
) |
(180 |
) |
(49 |
) |
(229 |
) |
(434 |
) |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Divested Businesses - 2004 |
|
— |
|
91 |
|
— |
|
75 |
|
— |
|
166 |
|
72 |
|
36 |
|
108 |
|
274 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Implementation Costs - 2004 |
|
(1 |
) |
— |
|
— |
|
(1 |
) |
(5 |
) |
(7 |
) |
— |
|
— |
|
— |
|
(7 |
) |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Currency |
|
16 |
|
56 |
|
15 |
|
44 |
|
33 |
|
164 |
|
605 |
|
60 |
|
665 |
|
829 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Operations |
|
122 |
|
584 |
|
186 |
|
45 |
|
68 |
|
1,005 |
|
(115 |
) |
118 |
|
3 |
|
1,008 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
2004 Net Revenues |
|
$ |
2,742 |
|
$ |
6,021 |
|
$ |
4,445 |
|
$ |
3,009 |
|
$ |
5,843 |
|
$ |
22,060 |
|
$ |
6,504 |
|
$ |
3,604 |
|
$ |
10,108 |
|
$ |
32,168 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Memo: Ongoing, Constant Currency Revenues (1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
% Change |
|
4.7 |
% |
11.0 |
% |
4.4 |
% |
1.6 |
% |
1.2 |
% |
4.8 |
% |
(1.9 |
)% |
3.5 |
% |
0.0 |
% |
3.4 |
% |
||||||||||
(1) The company’s top-line guidance measure is ongoing, constant currency revenue growth, which includes acquisitions and excludes divestitures and implementation costs associated with the company’s restructuring program. The company believes this measure better represents the revenue growth prospects of the business on a go-forward basis, and provides improved comparability of results.
KRAFT FOODS INC.
and Subsidiaries
Operating Companies Income by Business Segment
For the Years Ended December 31,
($ in millions)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Kraft |
|
|
|
Developing |
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
North |
|
|
|
Markets, |
|
Kraft |
|
|
|
||||||||||
|
|
|
|
|
Cheese & |
|
Convenient |
|
|
|
Snacks & |
|
America |
|
European |
|
Oceania & |
|
Int’l |
|
Total |
|
||||||||||
|
|
|
Beverages |
|
Foodservice |
|
Meals |
|
Grocery |
|
Cereals |
|
Commercial |
|
Union |
|
North Asia |
|
Commercial |
|
Kraft |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
2004 Operating Companies Income |
|
$ |
469 |
|
$ |
793 |
|
$ |
800 |
|
$ |
1,023 |
|
$ |
785 |
|
$ |
3,870 |
|
$ |
690 |
|
$ |
243 |
|
$ |
933 |
|
$ |
4,803 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
2003 Operating Companies Income |
|
654 |
|
1,014 |
|
863 |
|
1,016 |
|
1,111 |
|
4,658 |
|
941 |
|
452 |
|
1,393 |
|
6,051 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
% Change |
|
(28.3 |
)% |
(21.8 |
)% |
(7.3 |
)% |
0.7 |
% |
(29.3 |
)% |
(16.9 |
)% |
(26.7 |
)% |
(46.2 |
)% |
(33.0 |
)% |
(20.6 |
)% |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Reconciliation: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
2003 Operating Companies Income |
|
$ |
654 |
|
$ |
1,014 |
|
$ |
863 |
|
$ |
1,016 |
|
$ |
1,111 |
|
$ |
4,658 |
|
$ |
941 |
|
$ |
452 |
|
$ |
1,393 |
|
$ |
6,051 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Divested Businesses - 2003 |
|
— |
|
(16 |
) |
— |
|
(19 |
) |
— |
|
(35 |
) |
(42 |
) |
(3 |
) |
(45 |
) |
(80 |
) |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- (Gains)/Losses on Sales of Businesses - 2003 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
(31 |
) |
— |
|
(31 |
) |
(31 |
) |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Asset Impairment and Exit Costs - 2003 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
6 |
|
— |
|
6 |
|
6 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Integration Costs - 2003 |
|
(3 |
) |
(1 |
) |
(2 |
) |
(7 |
) |
— |
|
(13 |
) |
— |
|
— |
|
— |
|
(13 |
) |
||||||||||
|
|
|
(3 |
) |
(17 |
) |
(2 |
) |
(26 |
) |
— |
|
(48 |
) |
(67 |
) |
(3 |
) |
(70 |
) |
(118 |
) |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Divested Businesses - 2004 |
|
— |
|
8 |
|
— |
|
3 |
|
— |
|
11 |
|
28 |
|
— |
|
28 |
|
39 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Gains/(Losses) on Sales of Businesses - 2004 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
5 |
|
(8 |
) |
(3 |
) |
(3 |
) |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Asset Impairment and Exit Costs - 2004 |
|
(36 |
) |
(76 |
) |
(41 |
) |
(16 |
) |
(222 |
) |
(391 |
) |
(180 |
) |
(32 |
) |
(212 |
) |
(603 |
) |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Implementation Costs - 2004 |
|
(5 |
) |
(6 |
) |
(4 |
) |
(7 |
) |
(18 |
) |
(40 |
) |
(8 |
) |
(2 |
) |
(10 |
) |
(50 |
) |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Investment Impairment - 2004 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
(47 |
) |
(47 |
) |
(47 |
) |
||||||||||
|
|
|
(41 |
) |
(74 |
) |
(45 |
) |
(20 |
) |
(240 |
) |
(420 |
) |
(155 |
) |
(89 |
) |
(244 |
) |
(664 |
) |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Currency |
|
2 |
|
9 |
|
3 |
|
10 |
|
5 |
|
29 |
|
78 |
|
(11 |
) |
67 |
|
96 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Operations |
|
(143 |
) |
(139 |
) |
(19 |
) |
43 |
|
(91 |
) |
(349 |
) |
(107 |
) |
(106 |
) |
(213 |
) |
(562 |
) |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
2004 Operating Companies Income |
|
$ |
469 |
|
$ |
793 |
|
$ |
800 |
|
$ |
1,023 |
|
$ |
785 |
|
$ |
3,870 |
|
$ |
690 |
|
$ |
243 |
|
$ |
933 |
|
$ |
4,803 |
|
KRAFT FOODS INC.
and Subsidiaries
Volume By Business Segment
For the Quarters Ended March 31,
(pounds in millions)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Kraft |
|
|
|
Developing |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
North |
|
|
|
Markets, |
|
Kraft |
|
|
|
|
|
|
|
|
Cheese & |
|
Convenient |
|
|
|
Snacks & |
|
America |
|
European |
|
Oceania & |
|
Int’l |
|
Total |
|
|
|
|
Beverages |
|
Foodservice |
|
Meals |
|
Grocery |
|
Cereals |
|
Commercial |
|
Union |
|
North Asia |
|
Commercial |
|
Kraft |
|
|
Volume |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2005 Volume |
|
797 |
|
788 |
|
585 |
|
578 |
|
640 |
|
3,388 |
|
530 |
|
628 |
|
1,158 |
|
4,546 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2004 Volume |
|
728 |
|
763 |
|
583 |
|
580 |
|
632 |
|
3,286 |
|
536 |
|
619 |
|
1,155 |
|
4,441 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
% Change |
|
9.5 |
% |
3.3 |
% |
0.3 |
% |
(0.3 |
)% |
1.3 |
% |
3.1 |
% |
(1.1 |
)% |
1.5 |
% |
0.3 |
% |
2.4 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Divested Businesses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- Divested Businesses - 2005 |
|
— |
|
(31 |
) |
— |
|
(12 |
) |
— |
|
(43 |
) |
(7 |
) |
— |
|
(7 |
) |
(50 |
) |
|
- Divested Businesses - 2004 |
|
— |
|
(35 |
) |
— |
|
(10 |
) |
— |
|
(45 |
) |
(9 |
) |
— |
|
(9 |
) |
(54 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ongoing Volume - Including Acquisitions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2005 Volume |
|
797 |
|
757 |
|
585 |
|
566 |
|
640 |
|
3,345 |
|
523 |
|
628 |
|
1,151 |
|
4,496 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2004 Volume |
|
728 |
|
728 |
|
583 |
|
570 |
|
632 |
|
3,241 |
|
527 |
|
619 |
|
1,146 |
|
4,387 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
% Change |
|
9.5 |
% |
4.0 |
% |
0.3 |
% |
(0.7 |
)% |
1.3 |
% |
3.2 |
% |
(0.8 |
)% |
1.5 |
% |
0.4 |
% |
2.5 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Memo: Acquired Businesses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Volume |
|
103 |
|
16 |
|
— |
|
— |
|
— |
|
119 |
|
— |
|
3 |
|
3 |
|
122 |
|
KRAFT FOODS INC.
and Subsidiaries
Net Revenues by Business Segment
For the Quarters Ended March 31,
($ in millions)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Kraft |
|
|
|
Developing |
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
North |
|
|
|
Markets, |
|
Kraft |
|
|
|
||||||||||
|
|
|
|
|
Cheese & |
|
Convenient |
|
|
|
Snacks & |
|
America |
|
European |
|
Oceania & |
|
Int’l |
|
Total |
|
||||||||||
|
|
|
Beverages |
|
Foodservice |
|
Meals |
|
Grocery |
|
Cereals |
|
Commercial |
|
Union |
|
North Asia |
|
Commercial |
|
Kraft |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
2005 Net Revenues |
|
$ |
772 |
|
$ |
1,490 |
|
$ |
1,140 |
|
$ |
719 |
|
$ |
1,432 |
|
$ |
5,553 |
|
$ |
1,614 |
|
$ |
892 |
|
$ |
2,506 |
|
$ |
8,059 |
|
|
2004 Net Revenues |
|
718 |
|
1,391 |
|
1,091 |
|
721 |
|
1,371 |
|
5,292 |
|
1,517 |
|
766 |
|
2,283 |
|
7,575 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
% Change |
|
7.5 |
% |
7.1 |
% |
4.5 |
% |
(0.3 |
)% |
4.4 |
% |
4.9 |
% |
6.4 |
% |
16.4 |
% |
9.8 |
% |
6.4 |
% |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Reconciliation: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
2004 Net Revenues |
|
$ |
718 |
|
$ |
1,391 |
|
$ |
1,091 |
|
$ |
721 |
|
$ |
1,371 |
|
$ |
5,292 |
|
$ |
1,517 |
|
$ |
766 |
|
$ |
2,283 |
|
$ |
7,575 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Divested Businesses - 2004 |
|
— |
|
(26 |
) |
— |
|
(20 |
) |
— |
|
(46 |
) |
(17 |
) |
(11 |
) |
(28 |
) |
(74 |
) |
||||||||||
|
- Divested Businesses - 2005 |
|
— |
|
24 |
|
— |
|
25 |
|
— |
|
49 |
|
12 |
|
5 |
|
17 |
|
66 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Acquired Businesses |
|
34 |
|
7 |
|
— |
|
— |
|
— |
|
41 |
|
— |
|
1 |
|
1 |
|
42 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Currency |
|
2 |
|
11 |
|
3 |
|
13 |
|
5 |
|
34 |
|
111 |
|
18 |
|
129 |
|
163 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Operations |
|
18 |
|
83 |
|
46 |
|
(20 |
) |
56 |
|
183 |
|
(9 |
) |
113 |
|
104 |
|
287 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
2005 Net Revenues |
|
$ |
772 |
|
$ |
1,490 |
|
$ |
1,140 |
|
$ |
719 |
|
$ |
1,432 |
|
$ |
5,553 |
|
$ |
1,614 |
|
$ |
892 |
|
$ |
2,506 |
|
$ |
8,059 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Memo: Ongoing, Constant Currency Revenues (1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
% Change |
|
7.2 |
% |
6.6 |
% |
4.2 |
% |
(2.9 |
)% |
4.1 |
% |
4.3 |
% |
(0.6 |
)% |
15.1 |
% |
4.7 |
% |
4.4 |
% |
||||||||||
(1) The company’s top-line guidance measure is ongoing, constant currency revenue growth, which includes acquisitions and excludes divestitures and implementation costs associated with the company’s restructuring program. The company believes this measure better represents the revenue growth prospects of the business on a go-forward basis, and provides improved comparability of results.
KRAFT FOODS INC.
and Subsidiaries
Operating Companies Income by Business Segment
For the Quarters Ended March 31,
($ in millions)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Kraft |
|
|
|
Developing |
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
North |
|
|
|
Markets, |
|
Kraft |
|
|
|
||||||||||
|
|
|
|
|
Cheese & |
|
Convenient |
|
|
|
Snacks & |
|
America |
|
European |
|
Oceania & |
|
Int’l |
|
Total |
|
||||||||||
|
|
|
Beverages |
|
Foodservice |
|
Meals |
|
Grocery |
|
Cereals |
|
Commercial |
|
Union |
|
North Asia |
|
Commercial |
|
Kraft |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
2005 Operating Companies Income |
|
$ |
162 |
|
$ |
219 |
|
$ |
198 |
|
$ |
132 |
|
$ |
199 |
|
$ |
910 |
|
$ |
245 |
|
$ |
48 |
|
$ |
293 |
|
$ |
1,203 |
|
|
2004 Operating Companies Income |
|
174 |
|
169 |
|
203 |
|
230 |
|
57 |
|
833 |
|
160 |
|
28 |
|
188 |
|
1,021 |
|
||||||||||
|
% Change |
|
(6.9 |
)% |
29.6 |
% |
(2.5 |
)% |
(42.6 |
)% |
100+ |
% |
9.2 |
% |
53.1 |
% |
71.4 |
% |
55.9 |
% |
17.8 |
% |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Reconciliation: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
2004 Operating Companies Income |
|
$ |
174 |
|
$ |
169 |
|
$ |
203 |
|
$ |
230 |
|
$ |
57 |
|
$ |
833 |
|
$ |
160 |
|
$ |
28 |
|
$ |
188 |
|
$ |
1,021 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Divested Businesses - 2004 |
|
— |
|
(3 |
) |
— |
|
2 |
|
— |
|
(1 |
) |
(6 |
) |
— |
|
(6 |
) |
(7 |
) |
||||||||||
|
- Asset Impairment and Exit Costs - 2004 |
|
6 |
|
53 |
|
9 |
|
18 |
|
159 |
|
245 |
|
32 |
|
14 |
|
46 |
|
291 |
|
||||||||||
|
- Implementation Costs - 2004 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
1 |
|
— |
|
1 |
|
1 |
|
||||||||||
|
|
|
6 |
|
50 |
|
9 |
|
20 |
|
159 |
|
244 |
|
27 |
|
14 |
|
41 |
|
285 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Divested Businesses - 2005 |
|
— |
|
2 |
|
— |
|
2 |
|
— |
|
4 |
|
3 |
|
— |
|
3 |
|
7 |
|
||||||||||
|
- Gains/(Losses) on Sales of Businesses - 2005 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
115 |
|
1 |
|
116 |
|
116 |
|
||||||||||
|
- Asset Impairment and Exit Costs - 2005 |
|
(3 |
) |
(7 |
) |
(2 |
) |
(101 |
) |
(4 |
) |
(117 |
) |
(30 |
) |
(3 |
) |
(33 |
) |
(150 |
) |
||||||||||
|
- Implementation Costs - 2005 |
|
(1 |
) |
(3 |
) |
(1 |
) |
— |
|
(9 |
) |
(14 |
) |
(4 |
) |
(1 |
) |
(5 |
) |
(19 |
) |
||||||||||
|
|
|
(4 |
) |
(8 |
) |
(3 |
) |
(99 |
) |
(13 |
) |
(127 |
) |
84 |
|
(3 |
) |
81 |
|
(46 |
) |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Currency |
|
— |
|
1 |
|
— |
|
3 |
|
1 |
|
5 |
|
13 |
|
4 |
|
17 |
|
22 |
|
||||||||||
|
- Operations |
|
(14 |
) |
7 |
|
(11 |
) |
(22 |
) |
(5 |
) |
(45 |
) |
(39 |
) |
5 |
|
(34 |
) |
(79 |
) |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
2005 Operating Companies Income |
|
$ |
162 |
|
$ |
219 |
|
$ |
198 |
|
$ |
132 |
|
$ |
199 |
|
$ |
910 |
|
$ |
245 |
|
$ |
48 |
|
$ |
293 |
|
$ |
1,203 |
|
KRAFT FOODS INC.
and Subsidiaries
Volume by Business Segment
For the Quarters Ended June 30,
(pounds in millions)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Kraft |
|
|
|
Developing |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
North |
|
|
|
Markets, |
|
Kraft |
|
|
|
|
|
|
|
|
Cheese & |
|
Convenient |
|
|
|
Snacks & |
|
America |
|
European |
|
Oceania & |
|
Int’l |
|
Total |
|
|
|
|
Beverages |
|
Foodservice |
|
Meals |
|
Grocery |
|
Cereals |
|
Commercial |
|
Union |
|
North Asia |
|
Commercial |
|
Kraft |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Volume |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2005 Volume |
|
935 |
|
777 |
|
602 |
|
672 |
|
669 |
|
3,655 |
|
538 |
|
728 |
|
1,266 |
|
4,921 |
|
|
2004 Volume |
|
968 |
|
816 |
|
594 |
|
690 |
|
655 |
|
3,723 |
|
578 |
|
740 |
|
1,318 |
|
5,041 |
|
|
% Change |
|
(3.4 |
)% |
(4.8 |
)% |
1.3 |
% |
(2.6 |
)% |
2.1 |
% |
(1.8 |
)% |
(6.9 |
)% |
(1.6 |
)% |
(3.9 |
)% |
(2.4 |
)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Divested Businesses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- Divested Businesses - 2005 |
|
— |
|
(1 |
) |
— |
|
(12 |
) |
— |
|
(13 |
) |
— |
|
— |
|
— |
|
(13 |
) |
|
- Divested Businesses - 2004 |
|
— |
|
(34 |
) |
— |
|
(8 |
) |
— |
|
(42 |
) |
(8 |
) |
(1 |
) |
(9 |
) |
(51 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ongoing Volume - Including Acquisitions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2005 Volume |
|
935 |
|
776 |
|
602 |
|
660 |
|
669 |
|
3,642 |
|
538 |
|
728 |
|
1,266 |
|
4,908 |
|
|
2004 Volume |
|
968 |
|
782 |
|
594 |
|
682 |
|
655 |
|
3,681 |
|
570 |
|
739 |
|
1,309 |
|
4,990 |
|
|
% Change |
|
(3.4 |
)% |
(0.8 |
)% |
1.3 |
% |
(3.2 |
)% |
2.1 |
% |
(1.1 |
)% |
(5.6 |
)% |
(1.5 |
)% |
(3.3 |
)% |
(1.6 |
)% |
KRAFT FOODS INC.
and Subsidiaries
Net Revenues by Business Segment
For the Quarters Ended June 30,
($ in millions)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Kraft |
|
|
|
Developing |
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
North |
|
|
|
Markets, |
|
Kraft |
|
|
|
||||||||||
|
|
|
|
|
Cheese & |
|
Convenient |
|
|
|
Snacks & |
|
America |
|
European |
|
Oceania & |
|
Int’l |
|
Total |
|
||||||||||
|
|
|
Beverages |
|
Foodservice |
|
Meals |
|
Grocery |
|
Cereals |
|
Commercial |
|
Union |
|
North Asia |
|
Commercial |
|
Kraft |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
2005 Net Revenues |
|
$ |
771 |
|
$ |
1,487 |
|
$ |
1,146 |
|
$ |
830 |
|
$ |
1,517 |
|
$ |
5,751 |
|
$ |
1,589 |
|
$ |
994 |
|
$ |
2,583 |
|
$ |
8,334 |
|
|
2004 Net Revenues |
|
734 |
|
1,476 |
|
1,100 |
|
846 |
|
1,440 |
|
5,596 |
|
1,563 |
|
932 |
|
2,495 |
|
8,091 |
|
||||||||||
|
% Change |
|
5.0 |
% |
0.7 |
% |
4.2 |
% |
(1.9 |
)% |
5.3 |
% |
2.8 |
% |
1.7 |
% |
6.7 |
% |
3.5 |
% |
3.0 |
% |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Reconciliation: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
2004 Net Revenues |
|
$ |
734 |
|
$ |
1,476 |
|
$ |
1,100 |
|
$ |
846 |
|
$ |
1,440 |
|
$ |
5,596 |
|
$ |
1,563 |
|
$ |
932 |
|
$ |
2,495 |
|
$ |
8,091 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Divested Businesses - 2004 |
|
— |
|
(24 |
) |
— |
|
(19 |
) |
— |
|
(43 |
) |
(14 |
) |
(13 |
) |
(27 |
) |
(70 |
) |
||||||||||
|
- Divested Businesses - 2005 |
|
— |
|
1 |
|
— |
|
19 |
|
— |
|
20 |
|
— |
|
5 |
|
5 |
|
25 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Implementation Costs - 2005 |
|
— |
|
— |
|
— |
|
— |
|
(1 |
) |
(1 |
) |
— |
|
— |
|
— |
|
(1 |
) |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Currency |
|
5 |
|
17 |
|
5 |
|
10 |
|
12 |
|
49 |
|
109 |
|
27 |
|
136 |
|
185 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Operations |
|
32 |
|
17 |
|
41 |
|
(26 |
) |
66 |
|
130 |
|
(69 |
) |
43 |
|
(26 |
) |
104 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
2005 Net Revenues |
|
$ |
771 |
|
$ |
1,487 |
|
$ |
1,146 |
|
$ |
830 |
|
$ |
1,517 |
|
$ |
5,751 |
|
$ |
1,589 |
|
$ |
994 |
|
$ |
2,583 |
|
$ |
8,334 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Memo: Ongoing, Constant Currency Revenues (1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
% Change |
|
4.4 |
% |
1.2 |
% |
3.7 |
% |
(3.1 |
)% |
4.6 |
% |
2.3 |
% |
(4.5 |
)% |
4.7 |
% |
(1.1 |
)% |
1.3 |
% |
||||||||||
(1) The company’s top-line guidance measure is ongoing, constant currency revenue growth, which includes acquisitions and excludes divestitures and implementation costs associated with the company’s restructuring program. The company believes this measure better represents the revenue growth prospects of the business on a go-forward basis, and provides improved comparability of results.
KRAFT FOODS INC.
and Subsidiaries
Operating Companies Income by Business Segment
For the Quarters Ended June 30,
($ in millions)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Kraft |
|
|
|
Developing |
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
North |
|
|
|
Markets, |
|
Kraft |
|
|
|
||||||||||
|
|
|
|
|
Cheese & |
|
Convenient |
|
|
|
Snacks & |
|
America |
|
European |
|
Oceania & |
|
Int’l |
|
Total |
|
||||||||||
|
|
|
Beverages |
|
Foodservice |
|
Meals |
|
Grocery |
|
Cereals |
|
Commercial |
|
Union |
|
North Asia |
|
Commercial |
|
Kraft |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
2005 Operating Companies Income |
|
$ |
126 |
|
$ |
231 |
|
$ |
184 |
|
$ |
279 |
|
$ |
238 |
|
$ |
1,058 |
|
$ |
142 |
|
$ |
105 |
|
$ |
247 |
|
$ |
1,305 |
|
|
2004 Operating Companies Income |
|
121 |
|
176 |
|
192 |
|
312 |
|
233 |
|
1,034 |
|
127 |
|
94 |
|
221 |
|
1,255 |
|
||||||||||
|
% Change |
|
4.1 |
% |
31.2 |
% |
(4.2 |
)% |
(10.6 |
)% |
2.1 |
% |
2.3 |
% |
11.8 |
% |
11.7 |
% |
11.8 |
% |
4.0 |
% |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Reconciliation: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
2004 Operating Companies Income |
|
$ |
121 |
|
$ |
176 |
|
$ |
192 |
|
$ |
312 |
|
$ |
233 |
|
$ |
1,034 |
|
$ |
127 |
|
$ |
94 |
|
$ |
221 |
|
$ |
1,255 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Divested Businesses - 2004 |
|
— |
|
1 |
|
— |
|
(2 |
) |
— |
|
(1 |
) |
(6 |
) |
(2 |
) |
(8 |
) |
(9 |
) |
||||||||||
|
- Asset Impairment and Exit Costs - 2004 |
|
31 |
|
|
|
(1 |
) |
|
|
9 |
|
39 |
|
81 |
|
9 |
|
90 |
|
129 |
|
||||||||||
|
- Implementation Costs - 2004 |
|
— |
|
1 |
|
— |
|
2 |
|
6 |
|
9 |
|
— |
|
— |
|
— |
|
9 |
|
||||||||||
|
|
|
31 |
|
2 |
|
(1 |
) |
— |
|
15 |
|
47 |
|
75 |
|
7 |
|
82 |
|
129 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Divested Businesses - 2005 |
|
— |
|
1 |
|
— |
|
(3 |
) |
— |
|
(2 |
) |
— |
|
— |
|
— |
|
(2 |
) |
||||||||||
|
- Gains/(Losses) on Sales of Businesses - 2005 |
|
— |
|
1 |
|
— |
|
(2 |
) |
— |
|
(1 |
) |
— |
|
— |
|
— |
|
(1 |
) |
||||||||||
|
- Asset Impairment and Exit Costs - 2005 |
|
(1 |
) |
(1 |
) |
— |
|
(3 |
) |
— |
|
(5 |
) |
(17 |
) |
(7 |
) |
(24 |
) |
(29 |
) |
||||||||||
|
- Implementation Costs - 2005 |
|
(2 |
) |
(1 |
) |
(1 |
) |
— |
|
(14 |
) |
(18 |
) |
(6 |
) |
(2 |
) |
(8 |
) |
(26 |
) |
||||||||||
|
|
|
(3 |
) |
— |
|
(1 |
) |
(8 |
) |
(14 |
) |
(26 |
) |
(23 |
) |
(9 |
) |
(32 |
) |
(58 |
) |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Currency |
|
— |
|
3 |
|
2 |
|
3 |
|
1 |
|
9 |
|
10 |
|
5 |
|
15 |
|
24 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Operations |
|
(23 |
) |
50 |
|
(8 |
) |
(28 |
) |
3 |
|
(6 |
) |
(47 |
) |
8 |
|
(39 |
) |
(45 |
) |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
2005 Operating Companies Income |
|
$ |
126 |
|
$ |
231 |
|
$ |
184 |
|
$ |
279 |
|
$ |
238 |
|
$ |
1,058 |
|
$ |
142 |
|
$ |
105 |
|
$ |
247 |
|
$ |
1,305 |
|
KRAFT FOODS INC.
and Subsidiaries
Volume by Business Segment
For the Quarters Ended September 30,
(pounds in millions)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Kraft |
|
|
|
Developing |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
North |
|
|
|
Markets, |
|
Kraft |
|
|
|
|
|
|
|
|
Cheese & |
|
Convenient |
|
|
|
Snacks & |
|
America |
|
European |
|
Oceania & |
|
Int’l |
|
Total |
|
|
|
|
Beverages |
|
Foodservice |
|
Meals |
|
Grocery |
|
Cereals |
|
Commercial |
|
Union |
|
North Asia |
|
Commercial |
|
Kraft |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Volume |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2005 Volume |
|
840 |
|
747 |
|
591 |
|
511 |
|
677 |
|
3,366 |
|
514 |
|
713 |
|
1,227 |
|
4,593 |
|
|
2004 Volume |
|
785 |
|
776 |
|
589 |
|
526 |
|
666 |
|
3,342 |
|
545 |
|
692 |
|
1,237 |
|
4,579 |
|
|
% Change |
|
7.0 |
% |
(3.7 |
)% |
0.3 |
% |
(2.9 |
)% |
1.7 |
% |
0.7 |
% |
(5.7 |
)% |
3.0 |
% |
(0.8 |
)% |
0.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Divested Businesses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- Divested Businesses - 2004 |
|
— |
|
(28 |
) |
— |
|
(10 |
) |
— |
|
(38 |
) |
(7 |
) |
— |
|
(7 |
) |
(45 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ongoing Volume - Including Acquisitions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2005 Volume |
|
840 |
|
747 |
|
591 |
|
511 |
|
677 |
|
3,366 |
|
514 |
|
713 |
|
1,227 |
|
4,593 |
|
|
2004 Volume |
|
785 |
|
748 |
|
589 |
|
516 |
|
666 |
|
3,304 |
|
538 |
|
692 |
|
1,230 |
|
4,534 |
|
|
% Change |
|
7.0 |
% |
(0.1 |
)% |
0.3 |
% |
(1.0 |
)% |
1.7 |
% |
1.9 |
% |
(4.5 |
)% |
3.0 |
% |
(0.2 |
)% |
1.3 |
% |
KRAFT FOODS INC.
and Subsidiaries
Net Revenues by Business Segment
For the Quarters Ended September 30,
($ in millions)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Kraft |
|
|
|
Developing |
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
North |
|
|
|
Markets, |
|
Kraft |
|
|
|
||||||||||
|
|
|
|
|
Cheese & |
|
Convenient |
|
|
|
Snacks & |
|
America |
|
European |
|
Oceania & |
|
Int’l |
|
Total |
|
||||||||||
|
|
|
Beverages |
|
Foodservice |
|
Meals |
|
Grocery |
|
Cereals |
|
Commercial |
|
Union |
|
North Asia |
|
Commercial |
|
Kraft |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
2005 Net Revenues |
|
$ |
717 |
|
$ |
1,459 |
|
$ |
1,172 |
|
$ |
646 |
|
$ |
1,557 |
|
$ |
5,551 |
|
$ |
1,499 |
|
$ |
1,007 |
|
$ |
2,506 |
|
$ |
8,057 |
|
|
2004 Net Revenues |
|
646 |
|
1,468 |
|
1,135 |
|
651 |
|
1,471 |
|
5,371 |
|
1,477 |
|
870 |
|
2,347 |
|
7,718 |
|
||||||||||
|
% Change |
|
11.0 |
% |
(0.6 |
)% |
3.3 |
% |
(0.8 |
)% |
5.8 |
% |
3.4 |
% |
1.5 |
% |
15.7 |
% |
6.8 |
% |
4.4 |
% |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Reconciliation: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2004 Net Revenues |
|
$ |
646 |
|
$ |
1,468 |
|
$ |
1,135 |
|
$ |
651 |
|
$ |
1,471 |
|
$ |
5,371 |
|
$ |
1,477 |
|
$ |
870 |
|
$ |
2,347 |
|
$ |
7,718 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Divested Businesses - 2004 |
|
— |
|
(21 |
) |
— |
|
(18 |
) |
— |
|
(39 |
) |
(14 |
) |
(8 |
) |
(22 |
) |
(61 |
) |
||||||||||
|
- Divested Businesses - 2005 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
5 |
|
5 |
|
5 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Implementation Costs - 2004 |
|
— |
|
— |
|
— |
|
— |
|
5 |
|
5 |
|
— |
|
— |
|
— |
|
5 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Currency |
|
4 |
|
15 |
|
3 |
|
13 |
|
10 |
|
45 |
|
15 |
|
57 |
|
72 |
|
117 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Operations |
|
67 |
|
(3 |
) |
34 |
|
— |
|
71 |
|
169 |
|
21 |
|
83 |
|
104 |
|
273 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
2005 Net Revenues |
|
$ |
717 |
|
$ |
1,459 |
|
$ |
1,172 |
|
$ |
646 |
|
$ |
1,557 |
|
$ |
5,551 |
|
$ |
1,499 |
|
$ |
1,007 |
|
$ |
2,506 |
|
$ |
8,057 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Memo: Ongoing, Constant Currency Revenues (1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
% Change |
|
10.4 |
% |
(0.2 |
)% |
3.0 |
% |
(0.0 |
)% |
4.8 |
% |
3.2 |
% |
1.4 |
% |
9.6 |
% |
4.5 |
% |
3.6 |
% |
||||||||||
(1) The company’s top-line guidance measure is ongoing, constant currency revenue growth, which includes acquisitions and excludes divestitures and implementation costs associated with the company’s restructuring program. The company believes this measure better represents the revenue growth prospects of the business on a go-forward basis, and provides improved comparability of results.
KRAFT FOODS INC.
and Subsidiaries
Operating Companies Income by Business Segment
For the Quarters Ended September 30,
($ in millions)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Kraft |
|
|
|
Developing |
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
North |
|
|
|
Markets, |
|
Kraft |
|
|
|
||||||||||
|
|
|
|
|
Cheese & |
|
Convenient |
|
|
|
Snacks & |
|
America |
|
European |
|
Oceania & |
|
Int’l |
|
Total |
|
||||||||||
|
|
|
Beverages |
|
Foodservice |
|
Meals |
|
Grocery |
|
Cereals |
|
Commercial |
|
Union |
|
North Asia |
|
Commercial |
|
Kraft |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
2005 Operating Companies Income |
|
$ |
106 |
|
$ |
194 |
|
$ |
198 |
|
$ |
197 |
|
$ |
253 |
|
$ |
948 |
|
$ |
143 |
|
$ |
109 |
|
$ |
252 |
|
$ |
1,200 |
|
|
2004 Operating Companies Income |
|
120 |
|
216 |
|
218 |
|
238 |
|
264 |
|
1,056 |
|
152 |
|
72 |
|
224 |
|
1,280 |
|
||||||||||
|
% Change |
|
(11.7 |
)% |
(10.2 |
)% |
(9.2 |
)% |
(17.2 |
)% |
(4.2 |
)% |
(10.2 |
)% |
(5.9 |
)% |
51.4 |
% |
12.5 |
% |
(6.3 |
)% |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Reconciliation: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2004 Operating Companies Income |
|
$ |
120 |
|
$ |
216 |
|
$ |
218 |
|
$ |
238 |
|
$ |
264 |
|
$ |
1,056 |
|
$ |
152 |
|
$ |
72 |
|
$ |
224 |
|
$ |
1,280 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Divested Businesses - 2004 |
|
|
|
(2 |
) |
— |
|
— |
|
— |
|
(2 |
) |
(6 |
) |
2 |
|
(4 |
) |
(6 |
) |
||||||||||
|
- (Gains)/Losses on Sales of Businesses - 2004 |
|
|
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
8 |
|
8 |
|
8 |
|
||||||||||
|
- Asset Impairment and Exit Costs - 2004 |
|
|
|
1 |
|
— |
|
— |
|
4 |
|
5 |
|
35 |
|
4 |
|
39 |
|
44 |
|
||||||||||
|
- Implementation Costs - 2004 |
|
|
|
1 |
|
— |
|
— |
|
3 |
|
4 |
|
2 |
|
1 |
|
3 |
|
7 |
|
||||||||||
|
|
|
— |
|
— |
|
— |
|
— |
|
7 |
|
7 |
|
31 |
|
15 |
|
46 |
|
53 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Asset Impairment and Exit Costs - 2005 |
|
1 |
|
(1 |
) |
— |
|
(1 |
) |
(1 |
) |
(2 |
) |
(20 |
) |
(4 |
) |
(24 |
) |
(26 |
) |
||||||||||
|
- Implementation Costs - 2005 |
|
(2 |
) |
(2 |
) |
— |
|
(1 |
) |
(6 |
) |
(11 |
) |
(4 |
) |
(1 |
) |
(5 |
) |
(16 |
) |
||||||||||
|
|
|
(1 |
) |
(3 |
) |
— |
|
(2 |
) |
(7 |
) |
(13 |
) |
(24 |
) |
(5 |
) |
(29 |
) |
(42 |
) |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Currency |
|
1 |
|
1 |
|
— |
|
4 |
|
2 |
|
8 |
|
4 |
|
15 |
|
19 |
|
27 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Operations |
|
(14 |
) |
(20 |
) |
(20 |
) |
(43 |
) |
(13 |
) |
(110 |
) |
(20 |
) |
12 |
|
(8 |
) |
(118 |
) |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
2005 Operating Companies Income |
|
$ |
106 |
|
$ |
194 |
|
$ |
198 |
|
$ |
197 |
|
$ |
253 |
|
$ |
948 |
|
$ |
143 |
|
$ |
109 |
|
$ |
252 |
|
$ |
1,200 |
|
KRAFT FOODS INC.
and Subsidiaries
Volume by Business Segment*
For the Quarters Ended December 31,
(pounds in millions)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Kraft |
|
|
|
Developing |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
North |
|
|
|
Markets, |
|
Kraft |
|
|
|
|
|
|
|
|
Cheese & |
|
Convenient |
|
|
|
Snacks & |
|
America |
|
European |
|
Oceania & |
|
Int’l |
|
Total |
|
|
|
|
Beverages |
|
Foodservice |
|
Meals |
|
Grocery |
|
Cereals |
|
Commercial |
|
Union |
|
North Asia |
|
Commercial |
|
Kraft |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Volume |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2005 Volume |
|
756 |
|
915 |
|
620 |
|
637 |
|
750 |
|
3,678 |
|
664 |
|
810 |
|
1,474 |
|
5,152 |
|
|
2004 Volume |
|
710 |
|
876 |
|
565 |
|
617 |
|
695 |
|
3,463 |
|
674 |
|
804 |
|
1,478 |
|
4,941 |
|
|
% Change |
|
6.5 |
% |
4.5 |
% |
9.7 |
% |
3.2 |
% |
7.9 |
% |
6.2 |
% |
(1.5 |
)% |
0.7 |
% |
(0.3 |
)% |
4.3 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Divested Businesses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- Divested Businesses - 2004 |
|
— |
|
(26 |
) |
— |
|
(9 |
) |
— |
|
(35 |
) |
(14 |
) |
— |
|
(14 |
) |
(49 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ongoing Volume - Including Acquisitions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2005 Volume |
|
756 |
|
915 |
|
620 |
|
637 |
|
750 |
|
3,678 |
|
664 |
|
810 |
|
1,474 |
|
5,152 |
|
|
2004 Volume |
|
710 |
|
850 |
|
565 |
|
608 |
|
695 |
|
3,428 |
|
660 |
|
804 |
|
1,464 |
|
4,892 |
|
|
% Change |
|
6.5 |
% |
7.6 |
% |
9.7 |
% |
4.8 |
% |
7.9 |
% |
7.3 |
% |
0.6 |
% |
0.7 |
% |
0.7 |
% |
5.3 |
% |
(*) The company’s fourth quarter 2005 results include an extra shipping week. The company estimates that this week represents 7 pp. of volume growth on the quarter.
KRAFT FOODS INC.
and Subsidiaries
Net Revenues by Business Segment*
For the Quarters Ended December 31,
($ in millions)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Kraft |
|
|
|
Developing |
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
North |
|
|
|
Markets, |
|
Kraft |
|
|
|
||||||||||
|
|
|
|
|
Cheese & |
|
Convenient |
|
|
|
Snacks & |
|
America |
|
European |
|
Oceania & |
|
Int’l |
|
Total |
|
||||||||||
|
|
|
Beverages |
|
Foodservice |
|
Meals |
|
Grocery |
|
Cereals |
|
Commercial |
|
Union |
|
North Asia |
|
Commercial |
|
Kraft |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
2005 Net Revenues |
|
$ |
796 |
|
$ |
1,808 |
|
$ |
1,261 |
|
$ |
829 |
|
$ |
1,744 |
|
$ |
6,438 |
|
$ |
2,012 |
|
$ |
1,213 |
|
$ |
3,225 |
|
$ |
9,663 |
|
|
2004 Net Revenues |
|
644 |
|
1,686 |
|
1,119 |
|
791 |
|
1,561 |
|
5,801 |
|
1,947 |
|
1,036 |
|
2,983 |
|
8,784 |
|
||||||||||
|
% Change |
|
23.6 |
% |
7.2 |
% |
12.7 |
% |
4.8 |
% |
11.7 |
% |
11.0 |
% |
3.3 |
% |
17.1 |
% |
8.1 |
% |
10.0 |
% |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Reconciliation: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
2004 Net Revenues |
|
$ |
644 |
|
$ |
1,686 |
|
$ |
1,119 |
|
$ |
791 |
|
$ |
1,561 |
|
$ |
5,801 |
|
$ |
1,947 |
|
$ |
1,036 |
|
$ |
2,983 |
|
$ |
8,784 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Divested Businesses - 2004 |
|
— |
|
(20 |
) |
— |
|
(18 |
) |
— |
|
(38 |
) |
(27 |
) |
(4 |
) |
(31 |
) |
(69 |
) |
||||||||||
|
- Divested Businesses - 2005 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
4 |
|
4 |
|
4 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Implementation Costs - 2004 |
|
1 |
|
— |
|
— |
|
1 |
|
— |
|
2 |
|
— |
|
— |
|
— |
|
2 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Implementation Costs - 2005 |
|
1 |
|
— |
|
— |
|
(2 |
) |
— |
|
(1 |
) |
— |
|
— |
|
— |
|
(1 |
) |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Currency |
|
3 |
|
15 |
|
5 |
|
12 |
|
9 |
|
44 |
|
(37 |
) |
61 |
|
24 |
|
68 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Operations |
|
147 |
|
127 |
|
137 |
|
45 |
|
174 |
|
630 |
|
129 |
|
116 |
|
245 |
|
875 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
2005 Net Revenues |
|
$ |
796 |
|
$ |
1,808 |
|
$ |
1,261 |
|
$ |
829 |
|
$ |
1,744 |
|
$ |
6,438 |
|
$ |
2,012 |
|
$ |
1,213 |
|
$ |
3,225 |
|
$ |
9,663 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Memo: Ongoing, Constant Currency Revenues (1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
% Change |
|
22.8 |
% |
7.6 |
% |
12.2 |
% |
5.8 |
% |
11.1 |
% |
10.9 |
% |
6.7 |
% |
11.2 |
% |
8.3 |
% |
10.0 |
% |
||||||||||
(1) The company’s top-line guidance measure is ongoing, constant currency revenue growth, which includes acquisitions and excludes divestitures and implementation costs associated with the company’s restructuring program. The company believes this measure better represents the revenue growth prospects of the business on a go-forward basis, and provides improved comparability of results.
(*) The company’s fourth quarter 2005 results include an extra shipping week. The company estimates that this week represents 7 pp. of revenue growth on the quarter.
KRAFT FOODS INC.
and Subsidiaries
Operating Companies Income by Business Segment
For the Quarters Ended December 31,
($ in millions)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Kraft |
|
|
|
Developing |
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
North |
|
|
|
Markets, |
|
Kraft |
|
|
|
||||||||||
|
|
|
|
|
Cheese & |
|
Convenient |
|
|
|
Snacks & |
|
America |
|
European |
|
Oceania & |
|
Int’l |
|
Total |
|
||||||||||
|
|
|
Beverages |
|
Foodservice |
|
Meals |
|
Grocery |
|
Cereals |
|
Commercial |
|
Union |
|
North Asia |
|
Commercial |
|
Kraft |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
2005 Operating Companies Income |
|
$ |
69 |
|
$ |
277 |
|
$ |
213 |
|
$ |
116 |
|
$ |
240 |
|
$ |
915 |
|
$ |
192 |
|
$ |
138 |
|
$ |
330 |
|
$ |
1,245 |
|
|
2004 Operating Companies Income |
|
54 |
|
232 |
|
187 |
|
243 |
|
231 |
|
947 |
|
251 |
|
49 |
|
300 |
|
1,247 |
|
||||||||||
|
% Change |
|
27.8 |
% |
19.4 |
% |
13.9 |
% |
(52.3 |
)% |
3.9 |
% |
(3.4 |
)% |
(23.5 |
)% |
100+ |
% |
10.0 |
% |
(0.2 |
)% |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Reconciliation: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
2004 Operating Companies Income |
|
$ |
54 |
|
$ |
232 |
|
$ |
187 |
|
$ |
243 |
|
$ |
231 |
|
$ |
947 |
|
$ |
251 |
|
$ |
49 |
|
$ |
300 |
|
$ |
1,247 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Divested Businesses - 2004 |
|
|
|
(4 |
) |
|
|
(3 |
) |
— |
|
(7 |
) |
(10 |
) |
— |
|
(10 |
) |
(17 |
) |
||||||||||
|
- (Gains)/Losses on Sales of Businesses - 2004 |
|
|
|
|
|
|
|
|
|
|
|
— |
|
(5 |
) |
— |
|
(5 |
) |
(5 |
) |
||||||||||
|
- Asset Impairment and Exit Costs - 2004 |
|
(1 |
) |
22 |
|
33 |
|
(2 |
) |
50 |
|
102 |
|
32 |
|
5 |
|
37 |
|
139 |
|
||||||||||
|
- Implementation Costs - 2004 |
|
5 |
|
4 |
|
4 |
|
5 |
|
9 |
|
27 |
|
5 |
|
1 |
|
6 |
|
33 |
|
||||||||||
|
- Investment Impairment - 2004 |
|
|
|
|
|
|
|
|
|
|
|
— |
|
— |
|
47 |
|
47 |
|
47 |
|
||||||||||
|
|
|
4 |
|
22 |
|
37 |
|
— |
|
59 |
|
122 |
|
22 |
|
53 |
|
75 |
|
197 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Divested Businesses - 2005 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
1 |
|
1 |
|
1 |
|
||||||||||
|
- Gains/(Losses) on Sales of Businesses - 2005 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
(1 |
) |
(6 |
) |
(7 |
) |
(7 |
) |
||||||||||
|
- Asset Impairment and Exit Costs - 2005 |
|
(8 |
) |
(6 |
) |
(11 |
) |
(122 |
) |
(64 |
) |
(211 |
) |
(60 |
) |
(3 |
) |
(63 |
) |
(274 |
) |
||||||||||
|
- Implementation Costs - 2005 |
|
(5 |
) |
2 |
|
(5 |
) |
(7 |
) |
3 |
|
(12 |
) |
(6 |
) |
(8 |
) |
(14 |
) |
(26 |
) |
||||||||||
|
|
|
(13 |
) |
(4 |
) |
(16 |
) |
(129 |
) |
(61 |
) |
(223 |
) |
(67 |
) |
(16 |
) |
(83 |
) |
(306 |
) |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Currency |
|
1 |
|
3 |
|
2 |
|
1 |
|
2 |
|
9 |
|
— |
|
8 |
|
8 |
|
17 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Operations |
|
23 |
|
24 |
|
3 |
|
1 |
|
9 |
|
60 |
|
(14 |
) |
44 |
|
30 |
|
90 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
2005 Operating Companies Income |
|
$ |
69 |
|
$ |
277 |
|
$ |
213 |
|
$ |
116 |
|
$ |
240 |
|
$ |
915 |
|
$ |
192 |
|
$ |
138 |
|
$ |
330 |
|
$ |
1,245 |
|
(*) The company’s fourth quarter 2005 results include an extra shipping week. The company estimates that this week represents 7 pp. of operating companies income growth on the quarter.
KRAFT FOODS INC.
and Subsidiaries
Volume by Business Segment*
For the Years Ended December 31,
(pounds in millions)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Kraft |
|
|
|
Developing |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
North |
|
|
|
Markets, |
|
Kraft |
|
|
|
|
|
|
|
|
Cheese & |
|
Convenient |
|
|
|
Snacks & |
|
America |
|
European |
|
Oceania & |
|
Int’l |
|
Total |
|
|
|
|
Beverages |
|
Foodservice |
|
Meals |
|
Grocery |
|
Cereals |
|
Commercial |
|
Union |
|
North Asia |
|
Commercial |
|
Kraft |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Volume |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2005 Volume |
|
3,328 |
|
3,227 |
|
2,398 |
|
2,398 |
|
2,736 |
|
14,087 |
|
2,246 |
|
2,879 |
|
5,125 |
|
19,212 |
|
|
2004 Volume |
|
3,191 |
|
3,231 |
|
2,331 |
|
2,413 |
|
2,648 |
|
13,814 |
|
2,333 |
|
2,855 |
|
5,188 |
|
19,002 |
|
|
% Change |
|
4.3 |
% |
(0.1 |
)% |
2.9 |
% |
(0.6 |
)% |
3.3 |
% |
2.0 |
% |
(3.7 |
)% |
0.8 |
% |
(1.2 |
)% |
1.1 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Divested Businesses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
- Divested Businesses - 2005 |
|
— |
|
(32 |
) |
— |
|
(24 |
) |
— |
|
(56 |
) |
(7 |
) |
— |
|
(7 |
) |
(63 |
) |
|
- Divested Businesses - 2004 |
|
— |
|
(123 |
) |
— |
|
(37 |
) |
— |
|
(160 |
) |
(38 |
) |
(1 |
) |
(39 |
) |
(199 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ongoing Volume - Including Acquisitions |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2005 Volume |
|
3,328 |
|
3,195 |
|
2,398 |
|
2,374 |
|
2,736 |
|
14,031 |
|
2,239 |
|
2,879 |
|
5,118 |
|
19,149 |
|
|
2004 Volume |
|
3,191 |
|
3,108 |
|
2,331 |
|
2,376 |
|
2,648 |
|
13,654 |
|
2,295 |
|
2,854 |
|
5,149 |
|
18,803 |
|
|
% Change |
|
4.3 |
% |
2.8 |
% |
2.9 |
% |
(0.1 |
)% |
3.3 |
% |
2.8 |
% |
(2.4 |
)% |
0.9 |
% |
(0.6 |
)% |
1.8 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Memo: Acquired Businesses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Volume |
|
103 |
|
16 |
|
— |
|
— |
|
— |
|
119 |
|
— |
|
3 |
|
3 |
|
122 |
|
(*) The company’s full year 2005 results include an extra shipping week. The company estimates that this week represents 2 pp. of volume growth on the full year.
KRAFT FOODS INC.
and Subsidiaries
Net Revenues by Business Segment*
For the Years Ended December 31,
($ in millions)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Kraft |
|
|
|
Developing |
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
North |
|
|
|
Markets, |
|
Kraft |
|
|
|
||||||||||
|
|
|
|
|
Cheese & |
|
Convenient |
|
|
|
Snacks & |
|
America |
|
European |
|
Oceania & |
|
Int’l |
|
Total |
|
||||||||||
|
|
|
Beverages |
|
Foodservice |
|
Meals |
|
Grocery |
|
Cereals |
|
Commercial |
|
Union |
|
North Asia |
|
Commercial |
|
Kraft |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
2005 Net Revenues |
|
$ |
3,056 |
|
$ |
6,244 |
|
$ |
4,719 |
|
$ |
3,024 |
|
$ |
6,250 |
|
$ |
23,293 |
|
$ |
6,714 |
|
$ |
4,106 |
|
$ |
10,820 |
|
$ |
34,113 |
|
|
2004 Net Revenues |
|
2,742 |
|
6,021 |
|
4,445 |
|
3,009 |
|
5,843 |
|
22,060 |
|
6,504 |
|
3,604 |
|
10,108 |
|
32,168 |
|
||||||||||
|
% Change |
|
11.5 |
% |
3.7 |
% |
6.2 |
% |
0.5 |
% |
7.0 |
% |
5.6 |
% |
3.2 |
% |
13.9 |
% |
7.0 |
% |
6.0 |
% |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Reconciliation: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
2004 Net Revenues |
|
$ |
2,742 |
|
$ |
6,021 |
|
$ |
4,445 |
|
$ |
3,009 |
|
$ |
5,843 |
|
$ |
22,060 |
|
$ |
6,504 |
|
$ |
3,604 |
|
$ |
10,108 |
|
$ |
32,168 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Divested Businesses - 2004 |
|
— |
|
(91 |
) |
— |
|
(75 |
) |
— |
|
(166 |
) |
(72 |
) |
(36 |
) |
(108 |
) |
(274 |
) |
||||||||||
|
- Divested Businesses - 2005 |
|
— |
|
25 |
|
— |
|
44 |
|
— |
|
69 |
|
12 |
|
19 |
|
31 |
|
100 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Acquired Businesses |
|
34 |
|
7 |
|
— |
|
— |
|
— |
|
41 |
|
— |
|
1 |
|
1 |
|
42 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Implementation Costs - 2004 |
|
1 |
|
— |
|
— |
|
1 |
|
5 |
|
7 |
|
— |
|
— |
|
— |
|
7 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Implementation Costs - 2005 |
|
1 |
|
— |
|
— |
|
(2 |
) |
(1 |
) |
(2 |
) |
— |
|
— |
|
— |
|
(2 |
) |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Currency |
|
14 |
|
58 |
|
16 |
|
48 |
|
36 |
|
172 |
|
198 |
|
163 |
|
361 |
|
533 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Operations |
|
264 |
|
224 |
|
258 |
|
(1 |
) |
367 |
|
1,112 |
|
72 |
|
355 |
|
427 |
|
1,539 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
2005 Net Revenues |
|
$ |
3,056 |
|
$ |
6,244 |
|
$ |
4,719 |
|
$ |
3,024 |
|
$ |
6,250 |
|
$ |
23,293 |
|
$ |
6,714 |
|
$ |
4,106 |
|
$ |
10,820 |
|
$ |
34,113 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Memo: Ongoing, Constant Currency Revenues (1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
% Change |
|
10.9 |
% |
3.9 |
% |
5.8 |
% |
(0.0 |
)% |
6.3 |
% |
5.3 |
% |
1.1 |
% |
10.0 |
% |
4.3 |
% |
5.0 |
% |
||||||||||
(1) The company’s top-line guidance measure is ongoing, constant currency revenue growth, which includes acquisitions and excludes divestitures and implementation costs associated with the company’s restructuring program. The company believes this measure better represents the revenue growth prospects of the business on a go-forward basis, and provides improved comparability of results.
(*) The company’s full year 2005 results include an extra shipping week. The company estimates that this week represents 2 pp. of revenue growth on the full year.
KRAFT FOODS INC.
and Subsidiaries
Operating Companies Income by Business Segment*
For the Years Ended December 31,
($ in millions)
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
Kraft |
|
|
|
Developing |
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
North |
|
|
|
Markets, |
|
Kraft |
|
|
|
||||||||||
|
|
|
|
|
Cheese & |
|
Convenient |
|
|
|
Snacks & |
|
America |
|
European |
|
Oceania & |
|
Int’l |
|
Total |
|
||||||||||
|
|
|
Beverages |
|
Foodservice |
|
Meals |
|
Grocery |
|
Cereals |
|
Commercial |
|
Union |
|
North Asia |
|
Commercial |
|
Kraft |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
2005 Operating Companies Income |
|
$ |
463 |
|
$ |
921 |
|
$ |
793 |
|
$ |
724 |
|
$ |
930 |
|
$ |
3,831 |
|
$ |
722 |
|
$ |
400 |
|
$ |
1,122 |
|
$ |
4,953 |
|
|
2004 Operating Companies Income |
|
469 |
|
793 |
|
800 |
|
1,023 |
|
785 |
|
3,870 |
|
690 |
|
243 |
|
933 |
|
4,803 |
|
||||||||||
|
% Change |
|
(1.3 |
)% |
16.1 |
% |
(0.9 |
)% |
(29.2 |
)% |
18.5 |
% |
(1.0 |
)% |
4.6 |
% |
64.6 |
% |
20.3 |
% |
3.1 |
% |
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Reconciliation: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
2004 Operating Companies Income |
|
$ |
469 |
|
$ |
793 |
|
$ |
800 |
|
$ |
1,023 |
|
$ |
785 |
|
$ |
3,870 |
|
$ |
690 |
|
$ |
243 |
|
$ |
933 |
|
$ |
4,803 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Divested Businesses - 2004 |
|
— |
|
(8 |
) |
— |
|
(3 |
) |
— |
|
(11 |
) |
(28 |
) |
— |
|
(28 |
) |
(39 |
) |
||||||||||
|
- (Gains)/Losses on Sales of Businesses - 2004 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
(5 |
) |
8 |
|
3 |
|
3 |
|
||||||||||
|
- Asset Impairment and Exit Costs - 2004 |
|
36 |
|
76 |
|
41 |
|
16 |
|
222 |
|
391 |
|
180 |
|
32 |
|
212 |
|
603 |
|
||||||||||
|
- Implementation Costs - 2004 |
|
5 |
|
6 |
|
4 |
|
7 |
|
18 |
|
40 |
|
8 |
|
2 |
|
10 |
|
50 |
|
||||||||||
|
- Investment Impairment - 2004 |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
— |
|
47 |
|
47 |
|
47 |
|
||||||||||
|
|
|
41 |
|
74 |
|
45 |
|
20 |
|
240 |
|
420 |
|
155 |
|
89 |
|
244 |
|
664 |
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
- Divested Businesses - 2005 |
|
— |
|
3 |
|
— |
|
(1 |
) |
— |
|
2 |
|
3 |
|
1 |
|
4 |
|
6 |
|
||||||||||
|
- Gains/(Losses) on Sales of Businesses - 2005 |
|
— |
|
1 |
|
— |
|
(2 |
) |
— |
|
(1 |
) |
114 |
|
(5 |
) |
109 |
|
108 |
|
||||||||||
|
- Asset Impairment and Exit Costs - 2005 |
|
(11 |
) |
(15 |
) |
(13 |
) |
(227 |
) |
(69 |
) |
(335 |
) |
(127 |
) |
(17 |
) |
(144 |
) |
(479 |
) |
||||||||||
|
- Implementation Costs - 2005 |
|
(10 |
) |
(4 |
) |
(7 |
) |
(8 |
) |
(26 |
) |
(55 |
) |
(20 |
) |
(12 |
) |
(32 |
) |
(87 |
) |
||||||||||
|
|
|
(21 |
) |
(15 |
) |
(20 |
) |
(238 |
) |
(95 |
) |
(389 |
) |
(30 |
) |
(33 |
) |
(63 |
) |
(452 |
) |
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|
- Currency |
|
2 |
|
8 |
|
4 |
|
11 |
|
6 |
|
31 |
|
27 |
|
32 |
|
59 |
|
90 |
|
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|
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|
- Operations |
|
(28 |
) |
61 |
|
(36 |
) |
(92 |
) |
(6 |
) |
(101 |
) |
(120 |
) |
69 |
|
(51 |
) |
(152 |
) |
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|
|
|
|
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|
2005 Operating Companies Income |
|
$ |
463 |
|
$ |
921 |
|
$ |
793 |
|
$ |
724 |
|
$ |
930 |
|
$ |
3,831 |
|
$ |
722 |
|
$ |
400 |
|
$ |
1,122 |
|
$ |
4,953 |
|
(*) The company’s full year 2005 results include an extra shipping week. The company estimates that this week represents 2 pp. of operating companies income growth on the full year.