The adjustments below are based upon available information and certain assumptions that we believe are reasonable. The unaudited pro forma condensed consolidated financial information and unaudited pro forma adjusted condensed financial information are for illustrative and informational purposes only and do not purport to represent what our financial position or results of operations would have been if we had operated as a stand-alone public company during the periods presented or if the transactions had actually occurred as of the dates indicated, nor do they project our financial position at any future date or our results of operations or cash flows for any future period.
The pro forma adjustments to our historical financial information reflect the separation of our business from Dean Foods’ other businesses, the contribution of our business to us by Dean Foods and the subsequent elimination of Dean Foods’ net investment in us and other adjustments described in the notes to the tables presented.
The additional adjustments to our historical financial information reflect the incremental impact of the transitional sales agreements, stand-alone public company costs, and non-recurring transition costs, all of which are described in the notes to the tables presented. The additional adjustments are incremental to those adjustments applied in the preparation of the "Unaudited Pro Forma Condensed Consolidated Financial Information" in the Prospectus.
For the Year Ended December 31, 2011
Pro FormaAdjustedFY 2011
|(Dollars in Thousands, Except Share and Per Share Data)|
|Total net sales||$||2,025,751||$||26,837||
|Cost of sales||1,341,310||9,898||(a)||1,351,208||(21,779||)||(e)||1,329,429|
|Related party license income||42,680||(42,680||)||(b)||-||-||-|
|Operating costs and expenses:|
|Selling and distribution||414,724||-||414,724||(1,946||)||(e)||412,778|
|General and administrative||136,703||9,825||(c)||146,528||13,461||(f)||159,989|
|Total operating costs and expenses||551,427||9,825||561,252||11,515||572,767|
|Other expense, net||122||-||122||-||122|
|Total other expense||9,271||14,317||23,588||534||24,122|
Income from continuing operations before income taxes
|Income tax expense||52,089||(17,459||)||(h)||34,630||3,602||(h)||38,232|
|Income from continuing operations||$||114,334||$||(32,424||)||$||81,910||$||(2,654||)||$||79,256|
|Earnings per Share, Basic and Diluted:|
|Weighted Average Shares Outstanding, Basic and Diluted:|