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Management's Discussion and Analysis
RESULTS OF OPERATIONS
Business Segments (a)
(a) Certain reclassifications were made to 1997 through 1994 amounts to conform with the 1998 presentation and to maintain comparability.
($ in millions)
1998
1997
.
1996
.
1995
1994
NET SALES
.
.
Pepsi-Cola
.
.
.
North America (b)
$
8,266
.
$
7,899
.
$
7,788
.
$
7,485
$
7,119
.
International
.
2,385
.
.
2,642
.
.
2,799
.
2,982
.
2,535
.
.
10,651
.
.
10,541
.
.
10,587
.
10,467
.
9,654
Frito-Lay
.
.
.
North America (b)
.
7,474
.
.
6,967
.
6,628
.
5,873
.
5,379
.
International
.
3,501
.
.
3,409
.
.
3,122
.
2,727
.
2,951
.
.
10,975
.
.
10,376
.
.
9,750
.
8,600
.
8,330
Tropicana (c)
.
722
.
.
-
.
.
-
.
-
.
-
Combined Segments
$
22,348
.
$
20,917
.
$
20,337
.
$
19,067
$
17,984
OPERATING PROFIT (d)
.
.
Pepsi-Cola
.
.
.
North America (b)
$
1,211
.
$
1,274
.
$
1,428
.
$
1,249
$
1,115
.
International
.
(219
)
.
(144
)
.
(846
)
.
117
.
136
.
.
992
.
.
1,130
.
.
582
.
1,366
.
1,251
Frito-Lay
.
.
.
North America (b)
.
1,424
.
.
1,388
.
1,286
.
1,149
.
1,043
.
International
.
367
.
.
318
.
.
346
.
301
.
354
.
.
1,791
.
.
1,706
.
.
1,632
.
1,450
.
1,397
Tropicana (c)
.
40
.
.
-
.
.
-
.
-
.
-
Combined Segments
$
2,823
.
$
2,836
.
$
2,214
.
$
2,816
$
2,648
(b) North America is composed of operations in the U.S. and Canada.
(c) Represents results since the acquisition date. See Management's Discussion and Analysis Acquisitions on page 13.
(d) Represents reported amounts. See Note 16 Business Segments for 1998, 1997 and 1996 impairment and restructuring charges by segment. In addition, 1995 segment operating profit excludes the $66 charge for the initial, noncash impact of adopting SFAS 121 and 1994 includes an $18 gain on a stock offering by BAESA in Pepsi-Cola International.