In fiscal 2013, the company recorded pre-tax restructuring charges of $22 and restructuring-related costs of $21 in Cost of products sold (aggregate impact of $27 after tax or $.09 per share) associated with the initiatives announced in September 2012 to improve its U.S. supply chain cost structure and increase asset utilization across its U.S. thermal plant network.
|CAMPBELL SOUP COMPANY|
|CONSOLIDATED SUPPLEMENTAL SCHEDULE OF SALES AND EARNINGS (unaudited)|
|(millions, except per share amounts)|
|THREE MONTHS ENDED|
|October 28, 2012||October 30, 2011||Change|
|U.S. Simple Meals||$||896||$||874||3||%|
|Global Baking and Snacking||574||568||1||%|
|International Simple Meals and Beverages||354||359||(1||)%|
|Bolthouse and Foodservice||323||162||99||%|
|U.S. Simple Meals||$||274||$||260||5||%|
|Global Baking and Snacking||85||88||(3||)%|
|International Simple Meals and Beverages||47||43||9||%|
|Bolthouse and Foodservice||34||27||26||%|
|Total operating earnings||470||448||5||%|
|Unallocated corporate expenses||63||30|
|Earnings before interest and taxes||385||416||(7||)%|
|Taxes on earnings||109||125|
|Net loss attributable to noncontrolling interests||2||2|
|Net earnings attributable to Campbell Soup Company||$||245||$||265||(8||)%|
|Per share - assuming dilution|
|Net earnings attributable to Campbell Soup Company||$||.78||$||.82||(5||)%|
In fiscal 2013, the company recorded pre-tax transaction costs of $10 ($7 after tax or $.02 per share) associated with the acquisition of Bolthouse Farms, which closed on August 6, 2012. The costs are included in Unallocated corporate expenses.
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