1999 Annual Report
[Financial Highlights]
[Letter from the Chairman]
[Corporate Citizenship]
[Principal Divisions and Corporate Officers]
[Board of Directors]
[Financial Review]
[Selected Financial Data]
[Capital Stock Information/Stock Performance]
[Shareholder Information]

Click here to download the 1999 Annual Report as a PDF file.
Selected Financial Data

(in millions except per share, unaudited)
PepsiCo, Inc. and Subsidiaries

  1999 (a)(b) 1998 (b)(c) 1997 (b) 1996 (b) 1995 (d)

Net sales    $ 20,367   22,348   20,917   20,337   19,067  
Income from continuing operations    $ 2,050   1,993   1,491   942   1,422  
Income per share - continuing operations
    - basic
   $ 1.40   1.35   0.98   0.60   0.90  
Income per share - continuing operations
    - assuming dilution
   $ 1.37   1.31   0.95   0.59   0.88  
Cash dividends declared per share    $ 0.535   0.515   0.49   0.445   0.39  
Total assets (e)    $ 17,551   22,660   20,101   22,160   22,944  
Long-term debt    $ 2,812   4,028   4,946   8,174   8,248  

As a result of the deconsolidation of PBG and other bottling operations in 1999 and the Tropicana acquisition late in 1998, the data provided above is not comparable (see Note 1).

In 1997, we disposed of our restaurants segment and accounted for the disposal as discontinued operations (see Note 5). Accordingly, all information has been restated for the years 1997 and prior. Per share amounts reflect a two-for-one stock split in 1996.

(a) Includes a net gain on bottling transactions in 1999 of $1.0 billion ($270 million after-tax or $0.18 per share) and a tax provision related to the PepCom transaction of $25 million ($0.02 per share).
(b) Includes asset impairment and restructuring charges of $65 million ($40 million after-tax or $0.03 per share) in 1999, $288 million ($261 million after-tax or $0.17 per share) in 1998, $290 million ($239 million after-tax or $0.15 per share) in 1997 and $576 million ($527 million after-tax or $0.33 per share) in 1996 (see Note 4).
(c) Includes a tax benefit of $494 million (or $0.32 per share) (see Note 14).
(d) Includes the initial, noncash charge of $66 million ($64 million after-tax or $0.04 per share) upon adoption in 1995 of Statement of Financial Accounting Standards No. 121, Accounting for the Impairment of Long-Lived Assets and for Long-Lived Assets to Be Disposed Of.
(e) Includes net assets of discontinued operations in 1996 and 1995.

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