In fiscal 2013, the company recorded pre-tax restructuring charges of $22 and restructuring-related costs of $21 in Unallocated corporate expenses (aggregate impact of $27 after tax or $.09 per share) associated with the initiatives announced in September 2012 to improve its U.S. supply chain cost structure and increase asset utilization across its U.S. thermal plant network.
|CAMPBELL SOUP COMPANY|
|CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)|
|October 28, 2012||October 30, 2011|
|Plant assets, net||2,409||2,057|
|Intangible assets, net||3,802||2,619|
|Total liabilities and equity||$||8,747||$||6,948|
|Cash and cash equivalents||$||361||$||285|
Reconciliation of GAAP to Non-GAAP Financial Measures
First Quarter Ended October 28, 2012
Campbell Soup Company uses certain non-GAAP financial measures as defined by the Securities and Exchange Commission in certain communications. These non-GAAP financial measures are measures of performance not defined by accounting principles generally accepted in the United States and should be considered in addition to, not in lieu of, GAAP reported measures.