< Previous | 1 of 4 | Next >

Financial Highlights

                 
PepsiCo, Inc. and subsidiaries
(in millions except per share data; all per share amounts assume dilution)
 
2008
   
2007
   
Chg
(a)
Summary of Operations
               
Total net revenue
$
43,251
 
$
39,474
   
10
%
Core division operating profit(b)
$
8,475
 
$
8,025
   
6
%
Core total operating profit(c)
$
7,824
 
$
7,253
   
8
%
Core net income(d)
$
5,887
 
$
5,587
   
5
%
Core earnings per share(d)
$
3.68
 
$
3.37
   
9
%
Other Data
               
Management operating cash flow(e)
$
4,651
 
$
4,551
   
2
%
Net cash provided by operating activities
$
6,999
 
$
6,934
   
1
%
Capital spending
$
2,446
 
$
2,430
   
1
%
Common share repurchases
$
4,720
 
$
4,300
   
10
%
Dividends paid
$
2,541
 
$
2,204
   
15
%
Long-term debt
$
7,858
 
$
4,203
   
87
%
(a) Percentage changes are based on unrounded amounts.
(b) Excludes corporate unallocated expenses and restructuring and impairment charges. See “Reconciliation of GAAP and Non-GAAP Information” for a reconciliation to the most directly comparable financial measure in accordance with GAAP.
(c) Excludes restructuring and impairment charges and the net mark-to-market impact of our commodity hedges. See “Reconciliation of GAAP and Non-GAAP Information” for a reconciliation to the most directly comparable financial measure in accordance with GAAP.
(d) Excludes restructuring and impairment charges, our share of The Pepsi Bottling Group’s restructuring and impairment charge, the net mark-to-market impact of our commodity hedges and certain tax items. See “Reconciliation of GAAP and Non-GAAP Information” for a reconciliation to the most directly comparable financial measure in accordance with GAAP.
(e) Includes the impact of net capital spending. Also, see “Our Liquidity and Capital Resources” in Management’s Discussion and Analysis.