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This excerpt taken from the PBG 8-K filed Sep 16, 2009. Basis of
Consolidation – We consolidate in our
financial statements entities in which we have a controlling
financial interest, as well as variable interest entities where
we are the primary beneficiary. Noncontrolling interests in
earnings and ownership has been recorded for the percentage of
these entities not owned by PBG. We have eliminated all
intercompany accounts and transactions in consolidation.
These excerpts taken from the PBG 10-K filed Feb 20, 2009. Basis of
Consolidation – We consolidate in our
financial statements entities in which we have a controlling
financial interest, as well as variable interest entities where
we are the primary beneficiary. Minority interest in earnings
and ownership has been recorded for the percentage of these
entities not owned by PBG. We have eliminated all intercompany
accounts and transactions in consolidation.
Basis of Consolidation – We consolidate in our financial statements entities in which we have a controlling financial interest, as well as variable interest entities where we are the primary beneficiary. Minority interest in earnings and ownership has been recorded for the percentage of these entities not owned by PBG. We have eliminated all intercompany accounts and transactions in consolidation. These excerpts taken from the PBG 10-K filed Feb 27, 2008. Basis of
Consolidation – We consolidate in our
financial statements, entities in which we have a controlling
financial interest, as well as variable interest entities where
we are the primary beneficiary. Minority interest in earnings
and ownership has been recorded for the percentage of these
entities not owned by PBG. We have eliminated all intercompany
accounts and transactions in consolidation.
On March 1, 2007, together with PepsiCo we formed PR
Beverages Limited (“PR Beverages”), a venture that
will enable us to strategically invest in Russia to accelerate
our growth. In connection with the formation of this venture,
PBG contributed its business in Russia to PR Beverages, and
PepsiCo entered into bottling agreements with PR Beverages for
PepsiCo beverage products sold in Russia on the same terms as in
effect for PBG immediately prior to the venture. PepsiCo granted
PR Beverages an exclusive license to manufacture and sell the
concentrate for such products. PR Beverages has contracted
with a PepsiCo subsidiary to manufacture such concentrate.
PepsiCo also agreed to contribute in the future an additional
$83 million to the venture in the form of property, plant
and equipment, of which $15 million was contributed in
fiscal year 2007.
We have a majority interest in the venture and maintain
management of the day-to-day operations. As a result of the
formation of PR Beverages, we fully consolidate the
venture’s financial results and record minority interest
related to PepsiCo’s 40 percent interest in the
venture. For further information about the PR Beverages venture
see Note 6.
Basis of Consolidation – We consolidate in our financial statements, entities in which we have a controlling financial interest, as well as variable interest entities where we are the primary beneficiary. Minority interest in earnings and ownership has been recorded for the percentage of these entities not owned by PBG. We have eliminated all intercompany accounts and transactions in consolidation. On March 1, 2007, together with PepsiCo we formed PR Beverages Limited (“PR Beverages”), a venture that will enable us to strategically invest in Russia to accelerate our growth. In connection with the formation of this venture, PBG contributed its business in Russia to PR Beverages, and PepsiCo entered into bottling agreements with PR Beverages for PepsiCo beverage products sold in Russia on the same terms as in effect for PBG immediately prior to the venture. PepsiCo granted PR Beverages an exclusive license to manufacture and sell the concentrate for such products. PR Beverages has contracted with a PepsiCo subsidiary to manufacture such concentrate. PepsiCo also agreed to contribute in the future an additional $83 million to the venture in the form of property, plant and equipment, of which $15 million was contributed in fiscal year 2007. We have a majority interest in the venture and maintain management of the day-to-day operations. As a result of the formation of PR Beverages, we fully consolidate the venture’s financial results and record minority interest related to PepsiCo’s 40 percent interest in the venture. For further information about the PR Beverages venture see Note 6. | EXCERPTS ON THIS PAGE:
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