Pepsi Bottling Group (PBG)

 

In the fiscal year ended December 27, 2008, approximately 34% of our net revenues were generated in territories outside the United States. Social, economic and political developments in our international markets (including Russia, Mexico, Canada, Spain, Turkey and Greece) may adversely affect our business and financial results. These developments may lead to new product pricing, tax or other policies and monetary fluctuations that may adversely impact our business and financial results. The overall risks to our international businesses also include changes in foreign governmental policies. In addition, we are expanding our investment and sales and marketing efforts in certain emerging markets, such as Russia. Expanding our business into emerging markets may present additional risks beyond those associated with more developed international markets. For example, Russia has been a significant source of our profit growth, but is now experiencing an economic downturn, which if sustained may have a material adverse impact on our business and financial results. Additionally, our cost of goods, our results of operations and the value of our foreign assets are affected by fluctuations in foreign currency exchange rates. For example, the recent weakening of foreign currencies negatively impacted our earnings in 2008 compared with the prior year.

 

 

In the fiscal year ended December 27, 2008, approximately
34% of our net revenues were generated in territories outside
the United States. Social, economic and political developments
in our international markets (including Russia, Mexico, Canada,
Spain, Turkey and Greece) may adversely affect our business and
financial results. These developments may lead to new product
pricing, tax or other policies and monetary fluctuations that
may adversely impact our business and financial results. The
overall risks to our international businesses also include
changes in foreign governmental policies. In addition, we are
expanding our investment and sales and marketing efforts in
certain emerging markets, such as Russia. Expanding our business
into emerging markets may present additional risks beyond those
associated with more developed international markets. For
example, Russia has been a significant source of our profit
growth, but is now experiencing an economic downturn, which if
sustained may have a material adverse impact on our business and
financial results. Additionally, our cost of goods, our results
of operations and the value of our foreign assets are affected
by fluctuations in foreign currency exchange rates. For example,
the recent weakening of foreign currencies negatively impacted
our earnings in 2008 compared with the prior year.

 

 

In the fiscal year ended December 29, 2007, approximately 32% of our net revenues and approximately 26% of our operating income

10