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These excerpts taken from the PBG 10-K filed Feb 27, 2008. Other
Related Party Transactions
Bottling LLC will distribute pro-rata to PepsiCo and PBG, based
upon membership interest, sufficient cash such that aggregate
cash distributed to us will enable us to pay our income taxes
and interest on our $1 billion 7% senior notes due
2029. PepsiCo’s pro-rata cash distribution during 2007,
2006 and 2005 from Bottling LLC was $17 million,
$19 million and $12 million, respectively.
In accordance with our tax separation agreement with PepsiCo, in
2006 PBG reimbursed PepsiCo $5 million for our obligations
with respect to certain IRS matters relating to the tax years
1998 through March 1999.
There are certain manufacturing cooperatives whose assets,
liabilities and results of operations are consolidated in our
financial statements. Concentrate purchases from PepsiCo by
these cooperatives, not included in the table above, for the
years ended 2007, 2006 and 2005 were $143 million,
$72 million and $25 million, respectively.
As of December 29, 2007 and December 30, 2006, the
receivables from PepsiCo and its affiliates were
$188 million and $168 million, respectively. Our
receivables from PepsiCo are shown as part of accounts
receivable in our Consolidated Financial Statements. As of
December 29, 2007 and December 30, 2006, the payables
to PepsiCo and its affiliates were $255 million and
$234 million, respectively. Our payables to PepsiCo are
shown as part of accounts payable and other current liabilities
in our Consolidated Financial Statements.
On March 1, 2007, we and PepsiCo formed PR Beverages
Limited, a joint venture comprising PepsiCo’s concentrate
and our bottling businesses in Russia. For further details
regarding this transaction, see Note 2 and Note 6.
One of our board members has been designated by PepsiCo. This
board member, who retired from PepsiCo in June 2007, does not
serve on our Audit and Affiliated Transactions Committee,
Compensation and Management Development Committee or Nominating
and Corporate Governance Committee. In addition, one of the
managing directors of Bottling LLC is an officer of PepsiCo.
Other Related Party Transactions Bottling LLC will distribute pro-rata to PepsiCo and PBG, based upon membership interest, sufficient cash such that aggregate cash distributed to us will enable us to pay our income taxes and interest on our $1 billion 7% senior notes due 2029. PepsiCo’s pro-rata cash distribution during 2007, 2006 and 2005 from Bottling LLC was $17 million, $19 million and $12 million, respectively. In accordance with our tax separation agreement with PepsiCo, in 2006 PBG reimbursed PepsiCo $5 million for our obligations with respect to certain IRS matters relating to the tax years 1998 through March 1999. There are certain manufacturing cooperatives whose assets, liabilities and results of operations are consolidated in our financial statements. Concentrate purchases from PepsiCo by these cooperatives, not included in the table above, for the years ended 2007, 2006 and 2005 were $143 million, $72 million and $25 million, respectively. As of December 29, 2007 and December 30, 2006, the receivables from PepsiCo and its affiliates were $188 million and $168 million, respectively. Our receivables from PepsiCo are shown as part of accounts receivable in our Consolidated Financial Statements. As of December 29, 2007 and December 30, 2006, the payables to PepsiCo and its affiliates were $255 million and $234 million, respectively. Our payables to PepsiCo are shown as part of accounts payable and other current liabilities in our Consolidated Financial Statements. On March 1, 2007, we and PepsiCo formed PR Beverages Limited, a joint venture comprising PepsiCo’s concentrate and our bottling businesses in Russia. For further details regarding this transaction, see Note 2 and Note 6. One of our board members has been designated by PepsiCo. This board member, who retired from PepsiCo in June 2007, does not serve on our Audit and Affiliated Transactions Committee, Compensation and Management Development Committee or Nominating and Corporate Governance Committee. In addition, one of the managing directors of Bottling LLC is an officer of PepsiCo. | EXCERPTS ON THIS PAGE:
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