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Consolidated Statement of Income
(in millions except per share amounts)
[Liquidity and Capital Resources]
[Consolidated Statement of Cash Flows]
PepsiCo, Inc. and Subsidiaries
Fiscal years ended December 26, 1998, December 27, 1997 and December 28, 1996
1998
.
1997
1996
Net Sales
$
22,348
.
$
20,917
.
$
20,337
Costs and Expenses, net
.
Cost of sales
9,330
.
8,525
8,452
Selling, general and administrative expenses
9,924
.
9,241
9,063
Amortization of intangible assets
222
.
199
206
Unusual impairment and other items
288
.
290
576
Operating Profit
2,584
.
2,662
2,040
Interest expense
(395
)
(478
)
(565
)
Interest income
74
.
125
91
Income from Continuing Operations Before Income Taxes
2,263
.
2,309
1,566
Provision for Income Taxes
270
.
818
624
Income from Continuing Operations
1,993
.
1,491
942
Income from Discontinued Operations, net of tax
-
.
651
207
Net Income
$
1,993
.
$
2,142
.
$
1,149
.
Income Per Share - Basic
.
Continuing Operations
$
1.35
.
$
0.98
.
$
0.60
Discontinued Operations
-
.
0.42
0.13
Net Income
$
1.35
.
$
1.40
.
$
0.73
Average shares outstanding
1,480
.
1,528
1,564
.
Income Per Share - Assuming Dilution
.
Continuing Operations
$
1.31
.
$
0.95
.
$
0.59
Discontinued Operations
-
.
0.41
0.13
Net Income
$
1.31
.
$
1.36
.
$
0.72
Average shares outstanding
1,519
.
1,570
1,606
See accompanying Notes to Consolidated Financial Statements.