XML 72 R30.htm IDEA: XBRL DOCUMENT v2.4.1.9
Divestitures and Acquisitions (Tables)
 12 Months Ended
Dec. 31, 2014
Summary of Spin-Off Costs within Pre-Tax Earnings

We have recorded Spin-Off Costs of $35 million in 2014, $62 million in 2013 and $1,053 million in 2012 in pre-tax earnings as follows:

 

                                                        
     For the Years Ended December 31,  
     2014      2013      2012  
     (in millions)  

Selling, general and administrative expenses

    $ 35       $ 62       $ 444   

Interest and other expense, net

      –         –         609   
  

 

 

     

 

 

     

 

 

  

Spin-Off Costs

 $ 35    $ 62    $ 1,053   
  

 

 

     

 

 

     

 

 

  
Kraft Foods Group  
Summary Results of Operations

A summary of results related to the discontinued operation of Kraft Foods Group within our historical results is presented below:

 

                                     
     Fourth Quarter Ended      Nine Months Ended  
     December 31, 2013      October 1, 2012  
     (in millions)  

Net revenues

    $ –       $ 13,768   
  

 

 

     

 

 

  

Earnings before income taxes

 $ 2,522    $ 2,266   

Provision for income taxes

   919      778   
  

 

 

     

 

 

  

Earnings from discontinued operations, net of income taxes

 $ 1,603    $ 1,488   
  

 

 

     

 

 

  
Interest Expense Relating to Debt including Results from Discontinued Operations

Interest expense relating to debt Kraft Foods Group incurred or assumed through the Distribution Date has been included in the results from discontinued operations for all periods presented and as follows:

 

                  
     Nine Months Ended  
     October 1, 2012  
     (in millions)  

$ 6.0 billion note issuance in June 2012

    $ 70   

$ 3.6 billion notes exchanged in July 2012

      171   

$ 0.4 billion debt transferred in October 2012

      24   

Capital leases and other

      13   
  

 

 

  
$ 278