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Divestitures and Acquisitions (Tables)
 9 Months Ended
Sep. 30, 2015
Pre-tax Earnings and Major Classes of Assets and Liabilities

Our coffee business results are reflected in our consolidated financial statements for all periods prior to the July 2, 2015 closing date. The pre-tax earnings of the coffee businesses were:

 

                                                                           
     For the Three Months Ended      For the Nine Months Ended  
     September 30,      September 30,  
     2015      2014      2015      2014  
     (in millions)  

Earnings before income taxes

    $ –       $ 184       $ 342       $ 494   

On July 2, 2015, we deconsolidated the following assets and liabilities:

 

                  
     As of July 2,  
     2015  
     (in millions)  

Assets

   

Cash and cash equivalents

    $ 488   

Trade receivables

      468   

Other receivables

      24   

Inventories, net

      469   

Deferred income taxes

      6   

Other current assets

      44   
  

 

 

  

Current assets

      1,499   

Property, plant and equipment, net

      751   

Goodwill

      1,664   

Intangible assets, net

      –   

Other assets

      35   
  

 

 

  

Noncurrent assets

      2,450   
  

 

 

  

Total assets

    $ 3,949   
  

 

 

  

Liabilities

   

Accounts payable

    $ 438   

Accrued marketing

      290   

Accrued employment costs

      29   

Other current liabilities

      63   
  

 

 

  

Current liabilities

      820   

Deferred income taxes

      63   

Accrued pension costs

      146   

Other liabilities

      4   
  

 

 

  

Noncurrent liabilities

      213   
  

 

 

  

Total liabilities

    $ 1,033   
  

 

 

  

Net assets deconsolidated

    $ 2,916