PEP » Topics » The Pepsi Bottling Group

This excerpt taken from the PEP 10-K filed Feb 22, 2010.

The Pepsi Bottling Group

In addition to approximately 32% and 33% of PBG’s outstanding common stock that we owned at year-end 2009 and 2008, respectively, we owned 100% of PBG’s class B common stock and approximately 7% of the equity of Bottling Group, LLC, PBG’s principal operating subsidiary.

PBG’s summarized financial information is as follows:

 

     2009    2008    2007

Current assets

   $ 3,412    $ 3,141   

Noncurrent assets

     10,158      9,841   
                

Total assets

   $ 13,570    $ 12,982   
                

Current liabilities

   $ 1,965    $ 3,083   

Noncurrent liabilities

     7,896      7,408   
                

Total liabilities

   $ 9,861    $ 10,491   
                

Our investment

   $ 1,775    $ 1,457   
                

Net revenue

   $ 13,219    $ 13,796    $ 13,591

Gross profit

   $ 5,840    $ 6,210    $ 6,221

Operating income

   $ 1,048    $ 649    $ 1,071

Net income attributable to PBG

   $ 612    $ 162    $ 532

 

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Our investment in PBG, which includes the related goodwill, was $463 million and $536 million higher than our ownership interest in their net assets less noncontrolling interests at year-end 2009 and 2008, respectively. Based upon the quoted closing price of PBG shares at year-end 2009, the calculated market value of our shares in PBG exceeded our investment balance, excluding our investment in Bottling Group, LLC, by approximately $1.4 billion.

Additionally, in 2007, we formed a joint venture with PBG, comprising our concentrate and PBG’s bottling businesses in Russia. PBG holds a 60% majority interest in the joint venture and consolidates the entity. We account for our interest of 40% under the equity method of accounting.

During 2008, together with PBG, we jointly acquired Russia’s leading branded juice company, Lebedyansky. Lebedyansky is owned 25% and 75% by PBG and us, respectively. See Note 14 for further information on this acquisition.

This excerpt taken from the PEP 8-K filed Aug 27, 2009.

The Pepsi Bottling Group

In addition to approximately 33% and 35% of PBG’s outstanding common stock that we owned at year-end 2008 and 2007, respectively, we owned 100% of PBG’s class B common stock and approximately 7% of the equity of Bottling Group, LLC, PBG’s principal operating subsidiary.

PBG’s summarized financial information is as follows:

 

     2008    2007    2006

Current assets

   $ 3,141    $ 3,086   

Noncurrent assets

     9,841      10,029   
                

Total assets

   $ 12,982    $ 13,115   
                

Current liabilities

   $ 3,083    $ 2,215   

Noncurrent liabilities

     7,408      7,312   

Minority interest

     1,148      973   
                

Total liabilities

   $ 11,639    $ 10,500   
                

Our investment

   $ 1,457    $ 2,022   
                

Net revenue

   $ 13,796    $ 13,591    $ 12,730

Gross profit

   $ 6,210    $ 6,221    $ 5,830

Operating profit

   $ 649    $ 1,071    $ 1,017

Net income attributable to PBG

   $ 162    $ 532    $ 522

Our investment in PBG, which includes the related goodwill, was $536 million and $507 million higher than our ownership interest in their net assets at year-end 2008 and 2007, respectively. Based upon the quoted closing price of PBG shares at year-end 2008, the calculated market value of our shares in PBG exceeded our investment balance, excluding our investment in Bottling Group, LLC, by approximately $567 million.

Additionally, in 2007, we formed a joint venture with PBG, comprising our concentrate and PBG’s bottling businesses in Russia. PBG holds a 60% majority interest in the joint venture and consolidates the entity. We account for our interest of 40% under the equity method of accounting.

 

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During 2008, together with PBG, we jointly acquired Russia’s leading branded juice company, Lebedyansky. Lebedyansky is owned 25% and 75% by PBG and us, respectively. See Note 14 for further information on this acquisition.

This excerpt taken from the PEP 8-K filed Mar 25, 2009.

The Pepsi Bottling Group

In addition to approximately 33% and 35% of PBG’s outstanding common stock that we owned at year-end 2008 and 2007, respectively, we owned 100% of PBG’s class B common stock and approximately 7% of the equity of Bottling Group, LLC, PBG’s principal operating subsidiary.

 

84


PBG’s summarized financial information is as follows:

 

     2008    2007    2006

Current assets

   $ 3,141    $ 3,086   

Noncurrent assets

     9,841      10,029   
                

Total assets

   $ 12,982    $ 13,115   
                

Current liabilities

   $ 3,083    $ 2,215   

Noncurrent liabilities

     7,408      7,312   

Minority interest

     1,148      973   
                

Total liabilities

   $ 11,639    $ 10,500   
                

Our investment

   $ 1,457    $ 2,022   
                

Net revenue

   $ 13,796    $ 13,591    $ 12,730

Gross profit

   $ 6,210    $ 6,221    $ 5,830

Operating profit

   $ 649    $ 1,071    $ 1,017

Net income

   $ 162    $ 532    $ 522

Our investment in PBG, which includes the related goodwill, was $536 million and $507 million higher than our ownership interest in their net assets at year-end 2008 and 2007, respectively. Based upon the quoted closing price of PBG shares at year-end 2008, the calculated market value of our shares in PBG exceeded our investment balance, excluding our investment in Bottling Group, LLC, by approximately $567 million.

Additionally, in 2007, we formed a joint venture with PBG, comprising our concentrate and PBG’s bottling businesses in Russia. PBG holds a 60% majority interest in the joint venture and consolidates the entity. We account for our interest of 40% under the equity method of accounting.

During 2008, together with PBG, we jointly acquired Russia’s leading branded juice company, Lebedyansky. Lebedyansky is owned 25% and 75% by PBG and us, respectively. See Note 14 for further information on this acquisition.

 

85


This excerpt taken from the PEP 10-K filed Feb 19, 2009.

The Pepsi Bottling Group

In addition to approximately 33% and 35% of PBG’s outstanding common stock that we owned at year-end 2008 and 2007, respectively, we owned 100% of PBG’s class B common stock and approximately 7% of the equity of Bottling Group, LLC, PBG’s principal operating subsidiary.

 

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PBG’s summarized financial information is as follows:

 

     2008    2007    2006

Current assets

   $ 3,141    $ 3,086   

Noncurrent assets

     9,841      10,029   
                

Total assets

   $ 12,982    $ 13,115   
                

Current liabilities

   $ 3,083    $ 2,215   

Noncurrent liabilities

     7,408      7,312   

Minority interest

     1,148      973   
                

Total liabilities

   $ 11,639    $ 10,500   
                

Our investment

   $ 1,457    $ 2,022   
                

Net revenue

   $ 13,796    $ 13,591    $ 12,730

Gross profit

   $ 6,210    $ 6,221    $ 5,830

Operating profit

   $ 649    $ 1,071    $ 1,017

Net income

   $ 162    $ 532    $ 522

Our investment in PBG, which includes the related goodwill, was $536 million and $507 million higher than our ownership interest in their net assets at year-end 2008 and 2007, respectively. Based upon the quoted closing price of PBG shares at year-end 2008, the calculated market value of our shares in PBG exceeded our investment balance, excluding our investment in Bottling Group, LLC, by approximately $567 million.

Additionally, in 2007, we formed a joint venture with PBG, comprising our concentrate and PBG’s bottling businesses in Russia. PBG holds a 60% majority interest in the joint venture and consolidates the entity. We account for our interest of 40% under the equity method of accounting.

During 2008, together with PBG, we jointly acquired Russia’s leading branded juice company, Lebedyansky. Lebedyansky is owned 25% and 75% by PBG and us, respectively. See Note 14 for further information on this acquisition.

 

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Table of Contents
This excerpt taken from the PEP 8-K filed Apr 7, 2008.

The Pepsi Bottling Group

In addition to approximately 35% and 38% of PBG’s outstanding common stock that we own at year-end 2007 and 2006, respectively, we own 100% of PBG’s class B common stock and approximately 7% of the equity of Bottling Group, LLC, PBG’s principal operating subsidiary. Bottling equity income includes $174 million, $186 million and $126 million of pre-tax gains on our sales of PBG stock in 2007, 2006 and 2005, respectively.

 

64


PBG’s summarized financial information is as follows:

 

     2007    2006    2005

Current assets

   $ 3,086    $ 2,749   

Noncurrent assets

     10,029      9,178   
                

Total assets

   $ 13,115    $ 11,927   
                

Current liabilities

   $ 2,215    $ 2,051   

Noncurrent liabilities

     7,312      7,252   

Minority interest

     973      540   
                

Total liabilities

   $ 10,500    $ 9,843   
                

Our investment

   $ 2,022    $ 1,842   
                

Net revenue

   $ 13,591    $ 12,730    $ 11,885

Gross profit

   $ 6,221    $ 5,830    $ 5,540

Operating profit

   $ 1,071    $ 1,017    $ 1,023

Net income

   $ 532    $ 522    $ 466

Our investment in PBG, which includes the related goodwill, was $507 million and $500 million higher than our ownership interest in their net assets at year-end 2007 and 2006, respectively. Based upon the quoted closing price of PBG shares at year-end 2007 and 2006, the calculated market value of our shares in PBG exceeded our investment balance, excluding our investment in Bottling Group, LLC, by approximately $1.7 billion and $1.4 billion, respectively.

Additionally, in 2007, we formed a joint venture with PBG, comprising our concentrate and PBG’s bottling businesses in Russia. PBG holds a 60% majority interest in the joint venture and consolidates the entity. We account for our interest of 40% under the equity method of accounting.

 

65


These excerpts taken from the PEP 10-K filed Feb 15, 2008.

The Pepsi Bottling Group

In addition to approximately 35% and 38% of PBG’s outstanding common stock that we own at year-end 2007 and 2006, respectively, we own 100% of PBG’s class B common stock and approximately 7% of the equity of Bottling Group, LLC, PBG’s principal operating subsidiary. Bottling equity income includes $174 million, $186 million and $126 million of pre-tax gains on our sales of PBG stock in 2007, 2006 and 2005, respectively.

 

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Table of Contents

PBG’s summarized financial information is as follows:

 

     2007    2006    2005

Current assets

   $ 3,086    $ 2,749   

Noncurrent assets

     10,029      9,178   
                

Total assets

   $ 13,115    $ 11,927   
                

Current liabilities

   $ 2,215    $ 2,051   

Noncurrent liabilities

     7,312      7,252   

Minority interest

     973      540   
                

Total liabilities

   $ 10,500    $ 9,843   
                

Our investment

   $ 2,022    $ 1,842   
                

Net revenue

   $ 13,591    $ 12,730    $ 11,885

Gross profit

   $ 6,221    $ 5,830    $ 5,540

Operating profit

   $ 1,071    $ 1,017    $ 1,023

Net income

   $ 532    $ 522    $ 466

Our investment in PBG, which includes the related goodwill, was $507 million and $500 million higher than our ownership interest in their net assets at year-end 2007 and 2006, respectively. Based upon the quoted closing price of PBG shares at year-end 2007 and 2006, the calculated market value of our shares in PBG exceeded our investment balance, excluding our investment in Bottling Group, LLC, by approximately $1.7 billion and $1.4 billion, respectively.

Additionally, in 2007, we formed a joint venture with PBG, comprising our concentrate and PBG’s bottling businesses in Russia. PBG holds a 60% majority interest in the joint venture and consolidates the entity. We account for our interest of 40% under the equity method of accounting.

 

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The Pepsi Bottling
Group

In addition to approximately 35% and 38% of PBG’s outstanding common stock that we own at year-end 2007 and 2006,
respectively, we own 100% of PBG’s class B common stock and approximately 7% of the equity of Bottling Group, LLC, PBG’s principal operating subsidiary. Bottling equity income includes $174 million, $186 million and $126 million of pre-tax
gains on our sales of PBG stock in 2007, 2006 and 2005, respectively.

 


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PBG’s summarized financial information is as follows:

STYLE="font-size:12px;margin-top:0px;margin-bottom:0px"> 


















































































































































































































   2007  2006  2005

Current assets

  $3,086  $2,749  

Noncurrent assets

   10,029   9,178  
          

Total assets

  $13,115  $11,927  
          

Current liabilities

  $2,215  $2,051  

Noncurrent liabilities

   7,312   7,252  

Minority interest

   973   540  
          

Total liabilities

  $10,500  $9,843  
          

Our investment

  $2,022  $1,842  
          

Net revenue

  $13,591  $12,730  $11,885

Gross profit

  $6,221  $5,830  $5,540

Operating profit

  $1,071  $1,017  $1,023

Net income

  $532  $522  $466

Our investment in PBG, which includes the related goodwill, was $507 million and $500 million
higher than our ownership interest in their net assets at year-end 2007 and 2006, respectively. Based upon the quoted closing price of PBG shares at year-end 2007 and 2006, the calculated market value of our shares in PBG exceeded our investment
balance, excluding our investment in Bottling Group, LLC, by approximately $1.7 billion and $1.4 billion, respectively.

Additionally, in
2007, we formed a joint venture with PBG, comprising our concentrate and PBG’s bottling businesses in Russia. PBG holds a 60% majority interest in the joint venture and consolidates the entity. We account for our interest of 40% under the
equity method of accounting.

 


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