Summary

Other Scenarios:

Buyer: Kraft Foods Inc. (KFT) Last Price: 38.58 Market Cap.: 68.14B
Target: Sara Lee Corp. (SLE) Last Price: 19.80 Market Cap.: 11.58B

Lines of Business Summary:

Product Summary:

Overlap & Complementary Sectors

Sector Buyer Target # of Focused Companies
Consumer 895
Consumer Products and Services 341
Food, Beverage and Agriculture 137
Beverages 41
Food 54
Household Products 45
Household Appliances and Tools 13
Hospitality 185
Food and Beverage Services 61
Food Service Contractors 2
Healthcare   737
Nutritional Health   26
Dietary/Naturopathic Supplements   15
General Health   2

- Focused. Denotes that the company is considered focused in this area. In general, Focused Companies draw the majority of their earnings in the sector/product area specified.

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Sample Products in Similar Lines of Business

Sample Products in Complementary Lines of Business
Buyer (Total: 79)
  • Claussen
  • Taco Bell*
  • Boca
  • Oscar Mayer
Target (Total: 28)
  • Natreen
  • State Fair
  • Jimmy Dean
  • Heiner's
Buyer
  • Maxwell House
  • Gevalia
  • Jacobs
  • Carte Noire
Target
  • Merrild
  • Marcilla
  • Bravo
  • Café Prima

Business Relationship Summary:

Top Key Suppliers

Top Key Customers
Buyer (Total: 39)
  • Marten Transport, Ltd (MRTN)
  • Ford Motor Company (F)
  • The Blackstone Group L.P. (BX)
  • WPP PLC (ADR) (WPPGY)
Target (Total: 7)
  • Huntsman Corp (HUN)
  • DemandTec Inc (DMAN)
  • Schawk, Inc. (SGK)
  • Gladstone Commercial Corp (GOOD)
Buyer (Total: 8)
  • Wal-Mart Stores, Inc. (WMT)
  • Dollar General Corp. (DG)
  • AMCON Distributing Co. (DIT)
  • Ali Zaid Al Quraishi & Brothers Co. Ltd.
Target (Total: 3)
  • Wal-Mart Stores, Inc. (WMT)
  • SYSCO Corporation (SYY)
  • Dunkin' Brands Group Inc (DNKN)

Key Financial Summary:

Key Metrics

  Buyer Target
Number of Employees 127,000 33,400
Revenue Per Employee 438,303.2 266,598.7
Total Revenue 13,226.0 2,081.0
Total Expenses 11,528.0 1,980.0
Other Revenue n/a n/a
Cost of Revenue 8,611.0 1,385.0
SG&A Expense 2,754.0 497.0
Research & Development n/a n/a
Other Operating Expense n/a n/a
Operating Income 1,698.0 101.0
Unusual Income 105.0 98.0
LT Debt to Capital 38.74 49.12
Fwd P/E 15.33 21.71
Fwd P/Rev 1.22 1.46
Book Value 36,592.0 2,004.0
Curr Portion of LTD/Cap Lease 4,843.0 390.0

Individual Company Summary

Focused

Buyer

Focused (): Consumer > Consumer Products and Services > Food, Beverage and Agriculture > Food

Target

Focused (): Consumer > Consumer Products and Services > Food, Beverage and Agriculture > Food

Business Description

Buyer

Kraft Foods Inc. (Kraft Foods) manufactures and markets packaged food products, including biscuits, confectionery, beverages, cheese, convenient meals and various packaged grocery products. The Company sells its products to consumers in approximately 170 countries. Kraft Foods operates in three segments: Kraft Foods North America, Kraft Foods Europe and Kraft Foods Developing Markets. At December 31, 2010, Kraft Foods had operations in more than 75 countries and made its products at 223 manufacturing and processing facilities worldwide. At December 31, 2010, its portfolio included 11 brands Oreo, Nabisco and LU biscuits; Milka and Cadbury chocolates; Trident gum; Jacobs and Maxwell House coffees; Philadelphia cream cheeses; Kraft cheeses, dinners and dressings, and Oscar Mayer meats. In February 2010, the Company announced that it has acquired the control of Cadbury plc. As of June 1, 2010, the Company owned 100% interest of Cadbury ADSs (Cadbury Shares).

Target

Sara Lee Corporation (Sara Lee) is a global manufacturer and marketer of brand-name products for consumers globally focused primarily on the meats, bakery, beverage and household products categories. Its major brands include Ball Park, Douwe Egberts, Hillshire Farm, Jimmy Dean, Senseo and its namesake, Sara Lee. Sara Lee?s operations are organized around five business segments: North American Retail, North American Fresh Bakery, North American Foodservice, International Beverage and International Bakery. During the fiscal year ended July 3, 2010 (fiscal 2010), it divested its Indian insecticides joint venture to Godrej. In July 2010, it completed the sale of its air care business to The Procter & Gamble Company. In December 2010, Unilever plc acquired its Sara Lee Personal Care and European Laundry business. In April 2011, the Company sold its global shoe care business, in a majority of countries, to SC Johnson & Son, Inc. In May 2011, it acquired Aidells Sausage.

Deal Summary

Key Ratios

  Buyer Target
Gross Margin % 35.4 31.91
Operating Margin % 11.96 5.4
Quick Ratio 0.43 1.14
Current Ratio 0.85 1.71
Coverage Ratio n/a n/a
Total Assets 95,832.0 8,186.0
Return on Equity % 35.55 37.52
Return on Assets % 13.57 9.19
Cash+ ST Inv. Per Share 1.11 4.62
Total Debt 28,878.0 2,447.0
Total Debt to Equity % 78.92 122.11
Total Debt to Tangible Equity % n/a 210.04
Debt to Asset % 30.13 29.89

Product Summary

Sector Buyer Target
Consumer
Consumer Products and Services
Food, Beverage and Agriculture
Includes agricultural inputs like livestock and crops, as well as processed food and beverage products. Tobacco growers and cigarette manufacturers are also included.
Household Products
The Household Products sector includes furniture and other home and institutional decorative items, major and small appliances, kitchenware, and other related products.
Hospitality
Food and Beverage Services
Food and Beverage Services consists of restaurants, bars, snack bars, coffeehouses, and other establishments providing food and refreshment.
Healthcare  
Nutritional Health  
Dietary/Naturopathic Supplements
The Dietary/Naturopathic Subsector includes nutritional biochemicals and nutrients derived from natural sources that are intended to support health.
  

- Focused. Denotes that the company is considered focused in this area. In general, Focused Companies draw the majority of their earnings in the sector/product area specified.

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Product Details

Sector Buyer Target
Consumer
Consumer Products and Services
Food, Beverage and Agriculture
Beverages
Non-Alcoholic Beverages
Coffee/Tea/Cocoa
Coffee, Tea and Cocoa Manufacturing.

Buyer Products:

  • Maxwell House
  • Gevalia
  • Jacobs
  • Carte Noire
  • General Foods International
  • Grand Mere
  • Kenco
  • Onko
  • Green & Black's Organic
  • Starbucks*
  • Yuban
  • Seattle's Best*
  • Tazo*

Target Products:

  • Merrild
  • Marcilla
  • Bravo
  • Café Prima
  • Café Pilão
  • Café do Ponto
  • Café Damasco
  • Natreen
  • Kanis & Gunnink
  • Café Caboclo
  • Moccona
  • Senseo
  • Tea Forté
  • Maison du Café
Juice/Soft Drink/Other
Companies which manufacture soda, energy drinks, and fruit juice. Includes energy drinks, as well as mixers for alcoholic drinks.

Buyer Products:

  • Country Time
  • Crystal Light
  • Tang
  • Capri Sun*
  • Kool-Aid

Target Products:

  • Natreen
Food
Canned/Processed Fruit/Vegetable
Canned fruits and vegetables. Also includes fruits and vegetables that are preserved in other forms (e.g. glass jars).

Buyer Products:

  • Claussen

Target Products:

  • Natreen
Convenience Foods/Meals
Chilled Foods
Frozen/refrigerated foods, including chilled/frozen entrees, pizzas, as well as frozen fruit/vegetables.

Buyer Products:

  • Taco Bell*
  • Boca
  • Oscar Mayer

Target Products:

  • State Fair
  • Jimmy Dean
Dry/Shelf-Stable Meals
Complete and semi-complete convenience dry/shelf-stable meals.

Buyer Products:

  • Stove Top
  • Velveeta
  • Simmenthal
  • Kraft
  
Dairy and Dairy Alternative Products
Dairy Products
Includes fresh milk and milk-based products, e.g. yogurt, evaporated/condensed milk, ice cream, butter, cheese, dairy spreads, etc. Also includes infant formulas.

Buyer Products:

  • Cracker Barrel
  • Cheez Whiz
  • Cool Whip
  • Athenos
  • Deli Deluxe
  • Polly-O
  • Velveeta
  • Breakstone's
  • Knudsen
  • Philadelphia
  • Kraft

Target Products:

  • Natreen
Grain-Based Food Products
Bread and Cereal Products
Bread and Tortilla products, including bread, buns, rolls, and tortillas. Also includes breakfast cereals and croutons.

Target Products:

  • Heiner's
  • Sunbeam*
  • Earth Grains
  • Sara Lee
  • Butter-Krust
  • Bony
  • Bon Gateaux
  
Flour, Pasta and Rice
Includes flour, flour mixes, and dough manufacturing for retailers and other manufacturers. Also includes dry pasta (spaghetti, linguine, and macaroni), noodles, rice (jasmine, long grain, quick-cook rice), etc.

Buyer Products:

  • Shake 'n Bake
  • Oscar Mayer
  
Meat and Seafood Products
Beef, Pork, and Other Meats
Companies which manufacture beef or pork into meat products ready for consumption, or as ingredients for further processing.

Buyer Products:

  • Oscar Mayer
  • Louis Rich
  • Simmenthal

Target Products:

  • Jimmy Dean
  • Ball Park
  • Hillshire Farm
  • Kahn's
  • Sara Lee
  • Bryan
Poultry Products
Companies which process poultry into meat products ready for consumption, or as ingredients for further processing.

Buyer Products:

  • Simmenthal

Target Products:

  • Hillshire Farm
  • Ball Park
  • Jimmy Dean
  • Kahn's
  • Bryan
Soups, Sauces, and Condiments  
Sauces/Dressings/Oils
Sauces and dressing, such as vinegar and mayonnaise.

Buyer Products:

  • Grey Poupon
  • A1
  • Kraft
  • Good Seasons
  • Bull's-Eye
  • Miracle Whip
  
Spices/Extracts
Manufacturers of spice, seasonings and other food flavoring enhancers.

Buyer Products:

  • Royal
  
Sweets and Snacks
Cakes
Cakes and pastries.

Target Products:

  • Sara Lee
  
Confectionery
Chocolate and non-chocolate based confectionery manufacturing.

Buyer Products:

  • Hollywood
  • Bassett's
  • Bubbas
  • Green & Black's
  • Maynards
  • Sour Patch Kids
  • Trebor
  • Toblerone
  • Jet-Puffed
  • Stimorol
  • Clorets
  • Stride
  • Swedish Fish
  • Chiclets
  • Milka
  • Baker's
  • The Natural Confectionery Company
  • Marabou
  • Lacta
  • Dentyne
  • Côte d'Or
  • Alpen Gold
  • Trident
  • Cadbury
  
Cookies and Crackers
Cookie and Cracker Manufacturing.

Buyer Products:

  • LU
  • Nabisco
  • Trakinas
  • Club Social
  • Back to Nature
  
Jelly/Syrup/Topping
Jelly, Syrup, and Toppings, used for snacks, desserts, and pancakes. Includes pudding, gelatin, and peanut butter.

Buyer Products:

  • Jell-O

Target Products:

  • Natreen
Snack Foods
Manufacturers of packaged Potato Chips, Peanuts, Trail Mix, Cheese Snacks, Fruit or Vegetable snacks.

Buyer Products:

  • Kraft
  • Nabisco
  • Planters
  • Tiger
  • South Beach Living
  
Sugar/Sweetener
Processing of sugarcane and beet into refined sugar and sugar based syrups, as well as non-sugar sweetener production.

Target Products:

  • Natreen
  
Household Products
Household Appliances and Tools
Small Appliances and Accessories
Other Small Home Appliances
Includes electrical Kitchen/Bath Appliances, such as toasters; juice makers; and food blenders, as well as electrical toothbrushes, hairdryers, and electric massagers. Also includes non-electrical products such as lighters.

Buyer Products:

  • Tassimo

Target Products:

  • Senseo
Hospitality
Food and Beverage Services
Food Service Contractors
Providers of food-related services such as catering, sourcing, and distribution.

Buyer Products:

  • Kraft Canada & N.A. Foodservice

Target Products:

  • Sara Lee Foodservice (Bistro Collection)
Healthcare  
Nutritional Health  
Dietary/Naturopathic Supplements  
General Health
Products consisting of dietary/naturopathic supplements that are intended to support general health.

Buyer Products:

  • Halls
  

- Focused. Denotes that the company is considered focused in this area. In general, Focused Companies draw the majority of their earnings in the sector/product area specified.

- Sector Pure-Plays. Denotes that the company is focused in the selected sector and generates nearly all earnings in the sector/product area specified.

- Sector Participation. Denotes that the company develops products in this line of business.

Relationship Details

Key Competitors

  Name Dir Rel. Revenue % Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Overlap
  Unilever N.V. (ADR) n/a 156,238.508 30.05 15.05 1.98 2.37 n/a
Unilever plc (ADR) n/a 151,974.050 47.81 14.89 2.27 2.30 n/a
Green Mountain Coffee Roasters Inc. n/a 9,621.851 31.14 24.15 2.97 2.30 13.43
TreeHouse Foods Inc. n/a 2,061.305 22.20 17.26 1.02 0.92 n/a
The Hain Celestial Group, Inc. n/a 1,737.178 28.04 23.50 1.38 1.21 n/a
Peet's Coffee & Tea, Inc. n/a 877.105 36.89 37.82 1.95 2.13 5.38
Farmer Brothers Co. n/a 166.753 n/a -5.02 0.34 0.35 1.60
Grupo Bimbo SAB de CV n/a n/a n/a n/a n/a n/a n/a
Buyer
  Unilever N.V. (ADR) n/a 156,238.508 30.05 15.05 1.98 2.37 n/a
The Coca-Cola Company n/a 155,996.762 18.34 16.66 3.35 3.25 39.33
Unilever plc (ADR) n/a 151,974.050 47.81 14.89 2.27 2.30 n/a
Target
  Unilever N.V. (ADR) n/a 156,238.508 30.05 15.05 1.98 2.37 n/a
Unilever plc (ADR) n/a 151,974.050 47.81 14.89 2.27 2.30 n/a
Kraft Foods Inc. n/a 68,136.408 20.94 15.33 1.27 1.22 n/a
Mead Johnson Nutrition CO n/a 15,130.568 29.98 24.26 4.11 3.85 n/a
Green Mountain Coffee Roasters Inc. n/a 9,621.851 31.14 24.15 2.97 2.30 13.43
Tyson Foods, Inc. n/a 7,100.082 11.80 9.42 0.22 0.21 1.90
Flowers Foods, Inc. n/a 2,578.298 19.54 17.82 0.96 0.90 6.48
TreeHouse Foods Inc. n/a 2,061.305 22.20 17.26 1.02 0.92 n/a
The Hain Celestial Group, Inc. n/a 1,737.178 28.04 23.50 1.38 1.21 n/a
Bob Evans Farms, Inc. n/a 1,105.751 21.61 14.09 0.67 0.67 1.78
Peet's Coffee & Tea, Inc. n/a 877.105 36.89 37.82 1.95 2.13 5.38
Farmer Brothers Co. n/a 166.753 n/a -5.02 0.34 0.35 1.60
Grupo Bimbo SAB de CV n/a n/a n/a n/a n/a n/a n/a
Cia Cacique de Cafe Soluvel n/a n/a n/a n/a n/a n/a n/a

- Defined by the Company - Defined by Others

Dependent Suppliers

  Name Dir Rel. Revenue % Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Buyer
  Marten Transport, Ltd 10.00% 472.009 19.45 16.73 0.78 0.73 1.48
Ford Motor Company n/a 47,269.873 7.31 8.57 0.35 0.36 n/a
The Blackstone Group L.P. n/a 18,019.272 1,833.12 9.53 5.34 4.28 n/a
WPP PLC (ADR) n/a 15,512.950 4.09 11.05 1.03 0.93 n/a
Dover Corporation n/a 12,000.363 7.93 13.43 0.87 1.42 n/a
Nielsen Hldg NV n/a 10,211.901 155.33 16.80 1.85 1.77 n/a
Publicis Groupe S.A. (ADR) n/a 9,950.366 12.02 13.05 0.93 1.20 n/a
Crown Holdings, Inc. n/a 5,667.600 20.90 12.44 0.66 0.64 n/a
Weight Watchers International, Inc. n/a 5,486.285 18.87 16.38 3.09 2.84 n/a
NRG Energy, Inc. n/a 4,178.483 14.92 18.77 0.48 0.39 0.91
Genpact Ltd n/a 3,405.226 18.44 18.24 2.13 1.86 8.63
SuccessFactors, Inc. n/a 3,334.688 n/a -58.76 9.28 7.94 77.55
Silgan Holdings Inc. n/a 3,019.456 15.67 15.22 0.86 0.84 4.59
Qlik Technologies Inc n/a 2,469.147 430.89 85.14 8.40 6.36 15.01
Graphic Packaging Holding Company n/a 1,981.261 53.73 11.98 0.48 0.46 n/a
Marfrig Alimentos SA n/a 1,752.269 n/a n/a 0.09 n/a 1.15
Lexington Realty Trust n/a 1,346.663 n/a 9.60 3.23 3.93 1.30
Meredith Corporation n/a 1,222.215 10.79 13.26 0.91 0.90 n/a
Target
  Huntsman Corp n/a 3,220.479 19.18 7.05 0.29 0.28 2.02
DemandTec Inc n/a 429.483 n/a -35.68 4.82 4.70 17.65
Schawk, Inc. n/a 329.386 15.66 11.12 0.73 0.73 7.36
Gladstone Commercial Corp n/a 201.176 148.37 11.61 4.71 4.19 1.87
Farmer Brothers Co. n/a 166.753 n/a -5.02 0.34 0.35 1.60
CEGID GROUP n/a n/a n/a n/a n/a n/a n/a
PT Gema Graha Sarana Tbk n/a n/a n/a n/a n/a n/a n/a

- Defined by the Company - Defined by Others

Key Customers

  Name Dir Rel. Revenue % Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Overlap
  Wal-Mart Stores, Inc. 14.00% 214,951.526 13.16 12.62 0.49 0.46 4.60
Buyer
  Wal-Mart Stores, Inc. 14.00% 214,951.526 13.16 12.62 0.49 0.46 4.60
Dollar General Corp. n/a 14,648.458 21.01 15.75 1.04 0.91 n/a
AMCON Distributing Co. n/a 39.786 5.16 n/a 0.04 n/a 1.10
Ali Zaid Al Quraishi & Brothers Co. Ltd. n/a n/a n/a n/a n/a n/a n/a
Alghanim Industries n/a n/a n/a n/a n/a n/a n/a
The Olayan Group n/a n/a n/a n/a n/a n/a n/a
Aujan Industries n/a n/a n/a n/a n/a n/a n/a
Al Sayer Group n/a n/a n/a n/a n/a n/a n/a
Target
  Wal-Mart Stores, Inc. 12.00% 214,951.526 13.16 12.62 0.49 0.46 4.60
SYSCO Corporation n/a 17,101.767 14.97 15.39 0.42 0.41 5.79
Dunkin' Brands Group Inc n/a 3,369.632 98.85 23.49 5.36 5.28 n/a

- Defined by the Company - Defined by Others

Key Partners

  Name Dir Rel. Revenue % Market Cap. P/E Ratio (TTM) Fwd P/E P/R Ratio (TTM) Fwd P/Rev Price To Tang. Book Value
Overlap
  Dunkin' Brands Group Inc n/a 3,369.632 98.85 23.49 5.36 5.28 n/a
Buyer
  Starbucks Corporation n/a 36,424.602 28.48 26.74 2.99 2.76 8.42
Yum! Brands, Inc. n/a 30,066.059 23.02 19.85 2.38 2.19 35.67
BRF Brasil Foods SA(ADR) n/a 17,301.146 12.67 13.87 0.70 1.16 1.74
Dollar General Corp. n/a 14,648.458 21.01 15.75 1.04 0.91 n/a
The Hershey Company n/a 13,428.817 21.42 19.10 2.21 2.08 55.04
Dr Pepper Snapple Group Inc. n/a 8,355.141 15.53 13.10 1.43 1.36 n/a
Weight Watchers International, Inc. n/a 5,486.285 18.87 16.38 3.09 2.84 n/a
Cia Cervecerias Unidas SA CERVEZAS n/a 4,334.187 0.02 16.68 0.00 2.16 0.01
Dunkin' Brands Group Inc n/a 3,369.632 98.85 23.49 5.36 5.28 n/a
Six Flags Entertainment Corp n/a 2,570.593 n/a 54.93 2.58 2.45 n/a
Senomyx Inc. n/a 130.408 n/a -24.29 4.04 3.76 4.32
AMCON Distributing Co. n/a 39.786 5.16 n/a 0.04 n/a 1.10
Al Sayer Group n/a n/a n/a n/a n/a n/a n/a
Juma Al Majid group n/a n/a n/a n/a n/a n/a n/a
Khalifa A. Algosaibi Holding n/a n/a n/a n/a n/a n/a n/a
Mezzan Holding Company n/a n/a n/a n/a n/a n/a n/a
The Olayan Group n/a n/a n/a n/a n/a n/a n/a
Abdul-Aal Group Holdings n/a n/a n/a n/a n/a n/a n/a
Alghanim Industries n/a n/a n/a n/a n/a n/a n/a
Target
  Koninklijke Philips Electronics NV (ADR) n/a 20,623.653 n/a 20.94 0.69 0.67 15.36
SYSCO Corporation n/a 17,101.767 14.97 15.39 0.42 0.41 5.79
Dunkin' Brands Group Inc n/a 3,369.632 98.85 23.49 5.36 5.28 n/a
Flowers Foods, Inc. n/a 2,578.298 19.54 17.82 0.96 0.90 6.48
Intradevco SA Intrad n/a n/a n/a n/a n/a n/a n/a

- Defined by the Company - Defined by Others

Financials

  Buyer Target Combined Entity
Income Statement
Operating Items
Revenue 53,450.0 9,020.0 62,470.0
Other Revenue n/a n/a n/a
Total Revenue 53,450.0 9,020.0 62,470.0
Cost of Revenue 34,530.0 6,142.0 40,672.0
SG&A Expense 12,155.0 2,077.0 14,232.0
Depreciation & Amortization 237.0 3.0 240.0
Interest Expense n/a 20.0 20.0
Other Operating Expense 6.0 n/a 6.0
Unusual Expense (Income) 132.0 289.0 421.0
Total Expenses 47,060.0 8,533.0 55,593.0
Operating Income 6,390.0 487.0 6,877.0
Non Operating Items
Interest Expense (Inc.), Net Non-Oprtng -1,847.0 n/a -1,847.0
Other, Net 7.0 n/a 7.0
Income Before Taxes 4,550.0 433.0 4,983.0
Income Taxes 1,298.0 245.0 1,543.0
Income After Taxes 3,252.0 188.0 3,440.0
Minority Interest (IS) -15.0 n/a -15.0
Net Income - Excl. Xord. Items 3,237.0 188.0 3,425.0
Discontinued Operations n/a 327.0 327.0
Net Income - Incl. Xord. Items 3,237.0 515.0 3,752.0
Income Avail. to Common 3,237.0 515.0 3,752.0
Share Items
Basic Avg. Shares Outstanding 1,770.0 592.0 2,362.0
Basic EPS - Excl. Xord. Items 1.84 0.29 1.45
Basic EPS - Incl. Xord. Items 1.84 0.84 1.59
Full Dilution Adjustment n/a n/a n/a
Fully Diluted Shares Outstanding 1,777.0 595.0 2,372.0
F.D. EPS - Excl. Xord. Items 1.83 0.29 1.44
F.D. EPS - Incl. Xord. Items 1.83 0.83 1.58
Dividends Per Common Share 1.16 1.38 2.54
Balance Sheet
Assets
Cash and Equivalents 1,976.0 2,751.0 4,727.0
Accounts Receivable 6,835.0 760.0 7,595.0
Inventory 6,399.0 917.0 7,316.0
Other Current Assets 2,119.0 829.0 2,948.0
Current Assets 17,329.0 5,257.0 22,586.0
PPE 23,917.0 3,327.0 27,244.0
Accum D&A -10,061.0 -2,036.0 -12,097.0
PPE, Net 13,856.0 1,291.0 15,147.0
Goodwill & Intangibles 63,008.0 839.0 63,847.0
Other Assets n/a n/a n/a
Other LT Assets 1,639.0 799.0 2,438.0
Total Assets 95,832.0 8,186.0 104,018.0
Liabilities
Accounts Payable 5,293.0 728.0 6,021.0
Payable/Accrued n/a n/a n/a
Accrued Expenses 4,044.0 1,176.0 5,220.0
ST Debt 896.0 122.0 1,018.0
Curr Port of LTD & Cap Lease Oblg 4,843.0 390.0 5,233.0
Other (Current) Liabilities 5,284.0 664.0 5,948.0
Current Liab. 20,360.0 3,080.0 23,440.0
LT Debt 23,139.0 1,935.0 25,074.0
Total LT Debt 23,139.0 1,935.0 25,074.0
Minority Interest (BS) 108.0 29.0 137.0
Deferred Taxes 7,580.0 212.0 7,792.0
Other LT Liab. 8,053.0 955.0 9,008.0
Total Liabilities 59,240.0 6,182.0 65,422.0
Shareholders Equity
Common Stock n/a 6.0 6.0
Additional Paid in Capital 31,279.0 58.0 31,337.0
Retained Earnings 17,695.0 2,009.0 19,704.0
Treasure Stock -7,518.0 n/a -7,518.0
Other Equity -4,864.0 2,004.0 -2,860.0
Total Equity 36,592.0 2,004.0 38,596.0
Total Liab. & Equity 95,832.0 8,186.0 104,018.0
Shares Outstanding 1,748.1 590.7 2,338.8
Cash Flow
Operating Cash Flow
CF Net Income 3,252.0 474.0 3,726.0
CF Depreciation 1,538.0 269.0 1,807.0
CF Amortization n/a 62.0 62.0
CF Deferred Taxes -305.0 -31.0 -336.0
Other Non-Cash Items 571.0 -361.0 210.0
Change in Working Capital -867.0 -166.0 -1,033.0
Total Cash From Operating Activities 4,189.0 247.0 4,436.0
Investing Cash Flow (not calculated)
Capital Expenditures -1,922.0 -340.0 -2,262.0
Other Investing Cash Flows 27.0 1,930.0 1,957.0
Total Cash From Investing Activities -1,895.0 1,590.0 -305.0
Financing Cash Flow (not calculated)
Dividends Paid -2,046.0 -203.0 -2,249.0
Purchase Or Sale of Stock n/a -582.0 -582.0
Purchase and Retirement of Debt -1,036.0 -375.0 -1,411.0
Other Financing Cash Flow 539.0 -10.0 529.0
Total Cash From Financing Activities -2,543.0 -1,170.0 -3,713.0
Exchange Rate Effects -63.0 -67.0 -130.0
Net Change in Cash -312.0 600.0 288.0
Cash Taxes Paid 2,232.0 262.0 2,494.0
Cash Interest Paid 1,593.0 123.0 1,716.0