BRK's Heinz Deal

7/28/2019 BRK's Heinz Deal

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termination fee: $750 mil

J.P. Morgan and Wells Fargo have committed to provide $14.1 billion of new debt financterm loan B-1 and B-2 facilities, $2.0 billion of Euro/ British Pounds senior secured term

facility and a $2.1 billion second lien bridge loan facility. The obligation of J.P. Morgan

of customary conditions, including, without limitation, execution and delivery of certain

commitment is November 13, 2013. Additionally, Parent also intends to roll over certai

subject to acceleration upon a change of control and that either does not contain chang

to have such indebtedness repurchased in a change of control offer. Any existing indebt

equally and ratably secured with the new debt financing as the new debt financing is no

cannot be pledged without triggering the equal and ratable clauses under the rolled oveuse its reasonable best efforts to obtain the financing on the terms and conditions descr

Merger Sub to consummate the Merger is not subject to a financing condition.

Each of Berkshire Hathaway and 3G Capital, has entered into an equity commitment lett

forth in the equity commitment letters, $12.12 billion and $4.12 billion, respectively, of

the consideration payable at the closing of, the Merger. Berkshire expects at the compl

equity securities consisting of preferred and common stock and warrants issued by Pare

will pay or accrue a 9% dividend, and will be redeemable at the request of Parent or Berof the transaction to invest $4.12 billion to acquire common stock issued by Parent.


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ing for the transaction, consisting of $8.5 billion of USD senior securedloan B-1 and B-2 facilities, a $1.5 billion senior secured revolving

and Wells Fargo to provide this debt financing is subject to a number

definitive documentation. The final termination date for the debt

of the Companys current outstanding indebtedness that is not

e of control repurchase obligations or where the holders do not elect

edness of the Company that remains outstanding would not be

t expected to be secured by principal property or other assets that

r existing indebtedness. The Merger Agreement requires Parent toibed in the financing commitments. The obligation of Parent and

er with Parent to purchase, subject to the terms and conditions set

equity securities of Parent in connection with, and to partially fund

etion of the transaction to invest $12.12 billion to acquire a package of

nt. The preferred stock will have a liquidation preference of $8 billion,

kshire in certain circumstances. 3G Capital expects at the completion


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As of Jan. 27, 2013 Sources UsesCapital Structure (pre-Deal) Pro Forma Equity Ownserhip Up to*: Market Cap.

Take-Out PRICE $ 72.50 Common Equity: USD Sr. Secured 8,500 Net Debt

Shares Out. 320.7 Berkshire 50.0% Euro Sr. Secured 2,000 Fees / Other (est.)

3G Capital 50.0% Second Lien Bridge 2,100 Excess Cash (est.)

Market Capitalization** 23,247 Total 100.0% Total DEBT 12,600 Total

- Cash & Short Term Investments (1,101)

+ Total Debt 4,969 Common & Pref. Equity Berkshire - Preferred (9%) 8,000

+ Total Minority Interest 51 Berkshire 74.6% Berkshire Hathaway 4,120 PF Credit Metrics

= Total Enterprise Value (TEV) 27,166 3G Capital 25.4% 3G Capial 4,120 1st Lien, Net

Total 100.0% NEW Equity / Pref. 16,240 Total Debt, NetEV / EBITDA (LTM) 13.5x Note: BRK also has warrants Debt & Pref., Net

Total EV 28,840 Total EV, Net

Equity / Debt

* Depends on how much existing is rolled

Historical Wall St. Estimates

pr- pr- pr- pr- pr- pr- pr- pr-

Revenues 9,886 10,011 10,495 10,707 11,649 11,741 12,227 12,739

EBITDA 1,859 1,784 1,862 1,958 2,018 2,054 2,173 2,309

CapEx (302) (292) (278) (336) (419) (430) (450) (450)

CF, Pre-Tax 1,558 1,492 1,584 1,623 1,600 1,624 1,723 1,859

PF Interest (567) (567) (567) (567) (567) (567) (567) (567)

16.5% Taxes (163) (152) (168) (174) (170) (174) (191) (213)

Free Cash Flow 827 772 850 882 862 883 966 1,079

9.0% Preferred Div. (720) (720) (720) (720) (720) (720) (720) (720)FCF, to Common 107 52 130 162 142 163 246 359

Key Operating Metrics Apr-08 Apr-09 Apr-10 Apr-11 Apr-12 Apr-13 Apr-14 Apr-15

Revs y/y % 1.3% 4.8% 2.0% 8.8% 0.8% 4.1% 4.2%

EBITDA y/y % -4.1% 4.4% 5.2% 3.1% 1.8% 5.8% 6.3%

EBITDA Margin % 18.8% 17.8% 17.7% 18.3% 17.3% 17.5% 17.8% 18.1%

CF, Margin % 15.8% 14.9% 15.1% 15.2% 13.7% 13.8% 14.1% 14.6%

Return on Investment Apr-08 Apr-09 Apr-10 Apr-11 Apr-12 Apr-13 Apr-14 Apr-15

Return on Preferred 9.0% 9.0% 9.0%

Return on Common 2.0% 3.0% 4.4%

Return to Berkshire (Blended Return) 6.6% 7.0% 7.4%


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H. J. Heinz Company (NYSE:HNZ) > Financials > Key Stats

In Millions of the trading currency, except per share items. Currency: Trading Currency Conversion: Historical

Order: Latest on Right Units: S&P Capital IQ (Defaul

Decimals: Capital IQ (Default)

Key Financials

For the Fiscal Period Ending 12 months

Apr-29-2009A

12 months

Apr-28-2010A

12 months

Apr-27-2011A

12 months

Apr-29-2012A

LTM

12 months

Oct-28-2012A

Currency USD USD USD USD USD

Total Revenue 10,011.3 10,495.0 10,706.6 11,649.1 11,621.0

Growth Over Prior Year 1.3% 4.8% 2.0% 8.8% 3.2%

Gross Profit 3,569.3 3,794.3 3,952.5 4,139.4 4,144.7

Margin % 35.7% 36.2% 36.9% 35.5% 35.7%

EBITDA 1,783.8 1,862.1 1,958.2 2,018.3 2,016.8

Margin % 17.8% 17.7% 18.3% 17.3% 17.4%

EBIT 1,502.4 1,559.2 1,659.5 1,675.5 1,671.0

Margin % 15.0% 14.9% 15.5% 14.4% 14.4%

Earnings from Cont. Ops. 944.4 931.9 1,005.9 939.9 1,042.2

Margin % 9.4% 8.9% 9.4% 8.1% 9.0%

Net Income 923.1 864.9 989.5 923.2 1,007.5

Margin % 9.2% 8.2% 9.2% 7.9% 8.7%

Diluted EPS Excl. Extra Items 2.91 2.87 3.06 2.85 3.18Growth Over Prior Year 11.1% (1.4%) 6.6% (6.9%) 7.4%


Exchange Rate 1.0 1.0 1.0 1.0 1.0

Conversion Method H H H H H

All results are taken from the most recently filed statement for each period. When there has been more than one, earlier filings can be viewed on the individual statement pages.

Growth rates for the LTM period are calculated against the LTM period ending 12 months before.

All forward period figures are consensus mean estimates provided by the brokers and may not be on a comparable basis as financials.Growth rates for forward periods are calculated against prior period estimates or actual pro forma results as disclosed on the Estimates Consensus page.

Growth Rates are calculated in originally reported currency only and will not reflect any currency conversion selected above.


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Latest Capitalization (Millions of USD)

Currency USD

Share Price as of Feb-15-2013 $72.5Shares Out. 320.7

Market Capitalization** 23,177.2

- Cash & Short Term Investments 1,013.3

+ Total Debt 5,043.5

+ Pref. Equity -

+ Total Minority Interest 76.7

= Total Enterprise Value (TEV) 27,284.2

Book Value of Common Equity 2,865.4

+ Pref. Equity -

+ Total Minority Interest 76.7

+ Total Debt 5,043.5

= Total Capital 7,985.6

**For companies that have multiple share classes that publicly trade,

we are incorporating the different prices to calculate our company

level market capitalization. Please click on the value to see the

detailed calculation. Prices shown on this page are the close price of

the companys primary stock class. Shares shown on this page are

total company as-reported share values.


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Total Liability includes Total Debt, Minority Interest and Pref. Equity.

Net Liability includes Total Liability, net of Cash and Short Term Investments.

TEV includes Market Cap and Net Liability.

Total Capital includes Common Equity and Total Liability.

Valuation Multiples based on Latest Capitalization as of Feb-15-2013


Apr-29-2012A

LTM

12 months

Oct-28-2012A

12 months

Apr-30-2013E

12 months

Apr-30-2014E

12 months

Apr-30-2015E

TEV/Total Revenue 2.3x 2.3x 2.3x 2.2x 2.1x

TEV/EBITDA 13.4x 13.5x 13.3x 12.6x 11.8x

TEV/EBIT 16.2x 16.3x - - -

P/Diluted EPS Before Extra 25.4x 22.7x 20.4x 19.1x 17.7x

P/BV 8.4x 8.1x - - -

Price/Tang BV NM NM - - -

Financial data provided by

Estimate data provided by


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lt)

12 months

Apr-30-2013E

12 months

Apr-30-2014E

12 months

Apr-30-2015E

USD USD USD

11,740.8 12,227.3 12,739.4

0.79% 4.14% 4.19%

- - -

- - -

2,054.2 2,173.3 2,309.3

17.5% 17.8% 18.1%

- - -

- - -

- - -

- - -

- - -

- - -

3.54 3.79 4.075.59% 7.13% 7.50%

USD USD USD

1.0 1.0 1.0

S S S


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H. J. Heinz Company (NYSE:HNZ) > Financials > Income Statement

In Millions of the reported currency, except per share items. Template: Standard Restatement: Latest FilingsPeriod Type: Annual Order: Latest on Right

Currency: Reported Currency Conversion: Historical

Units: S&P Capital IQ (Defau Decimals: Capital IQ (Default)

Income Statement

For the Fiscal Period Ending

Restated

12 months

Apr-30-2008

Restated

12 months

Apr-29-2009

Reclassified

12 months

Apr-28-2010

Reclassified

12 months

Apr-27-2011

12 months

Apr-29-2012


Revenue 9,885.6 10,011.3 10,495.0 10,706.6 11,649.1

Other Revenue - - - - -

Total Revenue 9,885.6 10,011.3 10,495.0 10,706.6 11,649.1

Cost Of Goods Sold 6,233.4 6,442.1 6,700.7 6,754.0 7,509.7

Gross Profit 3,652.1 3,569.3 3,794.3 3,952.5 4,139.4

Selling General & Admin Exp. 2,081.8 2,066.8 2,235.1 2,293.1 2,463.9

R & D Exp. - - - - -

Depreciation & Amort. - - - - -

Other Operating Expense/(Income) - - - - -

Other Operating Exp., Total 2,081.8 2,066.8 2,235.1 2,293.1 2,463.9

Operating Income 1,570.3 1,502.4 1,559.2 1,659.5 1,675.5

Interest Expense (364.8) (339.6) (295.7) (275.4) (294.1)

Interest and Invest. Income 41.5 64.2 45.1 22.6 34.6Net Interest Exp. (323.3) (275.5) (250.6) (252.8) (259.5)

Currency Exchange Gains (Loss) - 49.4 (11.6) 39.1 31.2

Other Non-Operating Inc. (Exp.) (16.3) 43.6 (6.6) (60.3) (39.5)

EBT Excl. Unusual Items 1,230.8 1,319.9 1,290.5 1,385.5 1,407.8

Restructuring Charges - - - - (224.3)

Merger & Related Restruct. Charges - - - (11.3) -

Impairment of Goodwill - - - - -

Other Unusual Items - - - - -EBT Incl. Unusual Items 1,230.8 1,319.9 1,290.5 1,374.2 1,183.4


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Income Tax Expense 372.6 375.5 358.5 368.2 243.5

Earnings from Cont. Ops. 858.2 944.4 931.9 1,005.9 939.9

Earnings of Discontinued Ops. (1.7) (6.4) (49.6) - -Extraord. Item & Account. Change - - - - -

Net Income to Company 856.5 938.0 882.3 1,005.9 939.9

Minority Int. in Earnings (11.6) (14.9) (17.5) (16.4) (16.7)

Net Income 844.9 923.1 864.9 989.5 923.2

Pref. Dividends and Other Adj. 5.2 4.1 2.2 1.8 1.9

NI to Common Incl Extra Items 839.7 918.9 862.7 987.8 921.2

NI to Common Excl. Extra Items 841.4 925.4 912.3 987.8 921.2

Per Share Items

Basic EPS $2.65 $2.93 $2.73 $3.09 $2.87

Basic EPS Excl. Extra Items 2.65 2.95 2.89 3.09 2.87

Weighted Avg. Basic Shares Out. 317.0 313.7 315.9 320.1 320.7

Diluted EPS $2.61 $2.89 $2.71 $3.06 $2.85

Diluted EPS Excl. Extra Items 2.62 2.91 2.87 3.06 2.85

Weighted Avg. Diluted Shares Out. 321.7 318.1 318.1 323.0 323.3

Normalized Basic EPS $2.39 $2.58 $2.5 $2.65 $2.69

Normalized Diluted EPS 2.36 2.55 2.48 2.63 2.67

Dividends per Share $1.52 $1.66 $1.68 $1.8 $1.92

Payout Ratio % 57.4% 56.9% 61.7% 58.6% 67.1%

Supplemental Items

EBITDA 1,859.2 1,783.8 1,862.1 1,958.2 2,018.3

EBITA 1,608.4 1,542.5 1,607.5 1,702.9 1,722.6EBIT 1,570.3 1,502.4 1,559.2 1,659.5 1,675.5

EBITDAR 1,965.6 1,897.2 1,981.2 2,073.3 2,176.7

Effective Tax Rate % 30.3% 28.4% 27.8% 26.8% 20.6%

Current Domestic Taxes 94.5 75.3 (25.3) 53.2 122.4

Current Foreign Taxes 261.0 192.8 163.2 161.3 215.9

Total Current Taxes 355.5 268.1 138.0 214.5 338.4

Deferred Domestic Taxes 15.9 81.4 173.3 119.3 (12.1)

Deferred Foreign Taxes 1.2 26.0 47.2 34.4 (82.7)

Total Deferred Taxes 17.1 107.4 220.5 153.7 (94.8)

Normalized Net Income 757.7 810.0 789.1 849.5 863.1

Interest Capitalized NA NA 2.7 1.9 0.5

Non-Cash Pension Expense (32.6) (28.5) (5.1) (4.9) (8.3)


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Filing Date Jun-17-2010 Jun-16-2011 Jun-15-2012 Jun-15-2012 Jun-15-2012

Restatement Type RS RS RC RC O

Calculation Type REP REP REP REP REP

Supplemental Operating Expense Items

Advertising Exp. 338.7 303.1 375.8 369.6 442.0

Selling and Marketing Exp. 219.8 197.8 266.9 250.6 290.5

Net Rental Exp. 106.4 113.4 119.1 115.1 158.4

Imputed Oper. Lease Interest Exp. 63.8 59.7 58.2 55.2 76.9

Imputed Oper. Lease Depreciation 42.6 53.7 60.9 59.9 81.5

Stock-Based Comp., SG&A Exp. 55.5 55.3 54.1 54.2 54.9

Stock-Based Comp., Total 55.5 55.3 54.1 54.2 54.9

Note: For multiple class companies, per share items are primary class equivalent, and for foreign companies listed as primary ADRs, per share items are ADR-equivalent.



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LTM

12 months

Oct-28-2012

USD

11,621.0

-

11,621.0

7,476.3

4,144.7

2,473.7-

-

-

2,473.7

1,671.0

(291.3)

31.8(259.5)

34.7

(45.9)

1,400.3

(146.5)

-

-

-

1,253.9


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211.7

1,042.2

(21.1)-

1,021.1

(13.6)

1,007.5

1.2

1,006.3

1,027.5

$3.14

3.21

320.3

$3.11

3.18

322.9

$2.69

2.67

$1.99

63.7%

2,016.8

1,719.21,671.0

NA

16.9%

122.4

215.9

338.4

(12.1)

(82.7)

(94.8)

861.6

NA

-


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Nov-20-2012

O

LTM

NA

290.5

NA

-

-

55.2

55.2


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H. J. Heinz Company (NYSE:HNZ) > Financials > Balance Sheet




Balance Sheet

Balance Sheet as of:

Apr-30-2008 Apr-29-2009 Apr-28-2010 Apr-27-2011 Apr-29-2012


ASSETS

Cash And Equivalents 617.7 373.1 483.3 724.3 1,330.4

Trading Asset Securities - 64.5 70.7 38.7 25.1

Total Cash & ST Investments 617.7 437.6 554.0 763.0 1,355.5

Accounts Receivable 1,161.5 881.2 794.8 1,039.1 815.6

Other Receivables - 186.1 171.8 149.8 130.5

Total Receivables 1,161.5 1,067.2 966.6 1,188.9 946.1

Inventory 1,378.2 1,237.6 1,249.1 1,451.5 1,329.4

Prepaid Exp. 139.5 125.8 130.8 159.5 174.8

Other Current Assets 28.7 76.8 150.6 190.6 76.5

Total Current Assets 3,325.6 2,945.0 3,051.1 3,753.5 3,882.2

Gross Property, Plant & Equipment 4,400.3 4,109.6 4,465.6 5,224.7 5,266.6

Accumulated Depreciation (2,295.6) (2,131.3) (2,373.8) (2,719.6) (2,782.4)

Net Property, Plant & Equipment 2,104.7 1,978.3 2,091.8 2,505.1 2,484.1

Long-term Investments - 86.4 38.5 31.6 34.6

Goodwill 2,997.5 2,687.8 2,770.9 3,298.4 3,185.5Other Intangibles 1,414.1 1,295.2 1,297.7 1,598.8 1,498.7

Other Long-Term Assets 723.2 671.5 825.7 1,043.2 898.1

Total Assets 10,565.0 9,664.2 10,075.7 12,230.6 11,983.3

LIABILITIES

Accounts Payable 1,247.5 955.4 1,007.5 1,337.6 1,202.4

Accrued Exp. 878.6 810.0 950.4 1,028.5 950.9

Short-term Borrowings 124.3 61.3 43.9 87.8 46.5

Curr. Port. of LT Debt 328.4 4.3 18.7 1,453.3 203.0

Curr. Port. of Cap. Leases - - - - 9.2Curr. Income Taxes Payable 91.3 73.9 30.6 98.3 101.5

Other Current Liabilities - 157.9 124.3 155.9 134.4


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Total Current Liabilities 2,670.1 2,062.8 2,175.4 4,161.5 2,648.0

Long-Term Debt 4,730.9 5,076.2 4,567.6 3,078.1 4,780.0

Capital Leases - - - - 56.7Pension & Other Post-Retire. Benefits 257.1 214.8 216.4 332.6 404.9

Def. Tax Liability, Non-Curr. 409.2 345.7 665.1 897.2 817.9

Other Non-Current Liabilities 544.3 685.5 502.8 454.1 351.3

Total Liabilities 8,611.5 8,385.1 8,127.2 8,923.5 9,058.7

Pref. Stock, Convertible 0.1 0.1 0.1 0.1 0.1

Total Pref. Equity 0.1 0.1 0.1 0.1 0.1

Common Stock 107.8 107.8 107.8 107.8 107.8

Additional Paid In Capital 617.8 737.9 657.6 629.4 594.6Retained Earnings 6,129.0 6,525.7 6,856.0 7,264.7 7,567.3

Treasury Stock (4,905.8) (4,881.8) (4,750.5) (4,593.4) (4,666.4)

Comprehensive Inc. and Other (61.1) (1,269.7) (979.6) (299.6) (844.7)

Total Common Equity 1,887.7 1,219.9 1,891.3 3,108.9 2,758.5

Minority Interest 65.7 59.2 57.2 198.2 166.0

Total Equity 1,953.5 1,279.1 1,948.5 3,307.1 2,924.6

Total Liabilities And Equity 10,565.0 9,664.2 10,075.7 12,230.6 11,983.3

Supplemental Items

Total Shares Out. on Filing Date 312.6 315.0 318.1 321.3 320.3

Total Shares Out. on Balance Sheet Date 311.5 314.9 317.7 321.3 320.2

Book Value/Share $6.06 $3.87 $5.95 $9.68 $8.61

Tangible Book Value (2,523.8) (2,763.1) (2,177.4) (1,788.3) (1,925.7)

Tangible Book Value/Share ($8.1) ($8.78) ($6.85) ($5.57) ($6.01)

Total Debt 5,183.7 5,141.8 4,630.1 4,619.2 5,095.3

Net Debt 4,566.0 4,704.2 4,076.1 3,856.2 3,739.8

Debt Equiv. of Unfunded Proj. Benefit Obligation 50.1 355.4 (284.0) (496.6) (210.5)

Debt Equivalent Oper. Leases 851.2 907.2 952.8 920.8 1,267.2

Total Minority Interest 65.7 59.2 57.2 198.2 166.0

Inventory Method Avg Cost Avg Cost Avg Cost Avg Cost Avg Cost

Raw Materials Inventory 277.5 263.6 269.6 286.5 247.0

Finished Goods Inventory 1,100.7 974.0 979.5 1,165.1 1,082.3

Land 56.0 76.2 77.2 85.5 81.2

Buildings 842.2 775.2 842.3 1,019.3 1,009.4

Machinery 3,502.1 3,258.2 3,546.0 4,119.9 4,176.0

Full Time Employees 32,500 32,400 29,600 34,800 32,200Accum. Allowance for Doubtful Accts 15.7 10.2 10.2 10.9 10.7


Restatement Type NC NC NC NC O


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Calculation Type RUP RUP RUP REP REP

Note: For multiple class companies, total share counts are primary class equivalent, and for foreign companies listed as primary ADRs, total share counts are ADR-equivalent.



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Oct-28-2012

USD

1,007.2

6.1

1,013.3

922.1

153.9

1,076.0

1,541.1178.9

88.2

3,897.5

5,283.4

(2,841.1)

2,442.3

39.1

3,133.71,454.8

944.5

11,912.0

1,278.0

883.3

49.7

871.0

-76.3

138.1


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3,296.4

4,122.8

-230.8

771.7

548.2

8,969.9

-

-

107.8

608.97,774.2

(4,662.0)

(963.6)

2,865.4

76.7

2,942.1

11,912.0

320.7

320.7

$8.94

(1,723.2)

($5.37)

5,043.5

4,030.3

NA

NA

76.7

NA

300.4

1,240.7

NA

NA

NA

NANA

Nov-20-2012

O


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REP


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H. J. Heinz Company (NYSE:HNZ) > Financials > Cash Flow




Cash Flow


Apr-30-2008

12 months

Apr-29-2009

12 months

Apr-28-2010

12 months

Apr-27-2011

12 months

Apr-29-2012


Net Income 844.9 923.1 864.9 989.5 923.2

Depreciation & Amort. 250.8 241.3 254.5 255.2 295.7

Amort. of Goodwill and Intangibles 38.1 40.1 48.3 43.4 47.1

Depreciation & Amort., Total 288.9 281.4 302.8 298.7 342.8

(Gain) Loss From Sale Of Assets (15.7) (6.4) 44.9 - -

Asset Writedown & Restructuring Costs - - - - 58.7

Net Cash From Discontinued Ops. - - - - -

Other Operating Activities 40.9 (94.9) (211.0) 245.9 (26.2)

Change in Acc. Receivable (55.8) (10.9) 121.4 (91.1) 171.8

Change In Inventories (133.6) 50.7 48.5 (80.8) 60.9

Change in Acc. Payable 89.2 (62.9) (2.8) 233.3 (72.4)

Change in Inc. Taxes 95.6 61.2 (5.1) 50.7 65.8

Change in Other Net Operating Assets 34.0 25.6 98.6 (62.5) (31.6)

Cash from Ops. 1,188.3 1,166.9 1,262.2 1,583.6 1,493.1

Capital Expenditure (301.6) (292.1) (277.6) (335.6) (418.7)

Sale of Property, Plant, and Equipment 8.5 5.4 96.5 13.2 9.8

Cash Acquisitions (151.6) (293.9) (11.4) (618.3) (3.3)

Divestitures 63.5 13.4 18.6 1.9 3.8

Invest. in Marketable & Equity Securt. - - - - 56.8

Net (Inc.) Dec. in Loans Originated/Sold - - - - -

Other Investing Activities (173.0) (193.9) 187.4 (10.8) (50.4)

Cash from Investing (554.2) (761.2) 13.4 (949.6) (402.0)

Short Term Debt Issued - - - - -

Long-Term Debt Issued 483.7 853.1 447.1 229.9 1,912.5

Total Debt Issued 483.7 853.1 447.1 229.9 1,912.5Short Term Debt Repaid - - - - -

Long-Term Debt Repaid (368.2) (911.1) (1,057.6) (239.0) (1,483.5)


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Total Debt Repaid (368.2) (911.1) (1,057.6) (239.0) (1,483.5)

Issuance of Common Stock 78.6 264.9 67.4 154.8 82.7

Repurchase of Common Stock (580.7) (181.4) - (70.0) (201.9)

Common Dividends Paid (485.2) (525.3) (533.5) (579.6) (619.1)

Pref. Dividends Paid 0 0 0 0 0

Common and/or Pref. Dividends Paid - - - - -

Total Dividends Paid (485.2) (525.3) (533.6) (579.6) (619.1)

Special Dividend Paid - - - - -

Other Financing Activities 113.7 (16.5) (71.2) 21.5 (53.5)

Cash from Financing (758.1) (516.3) (1,147.9) (482.5) (362.8)

Foreign Exchange Rate Adj. 88.8 (133.9) (17.6) 89.6 (122.1)

Net Change in Cash (35.2) (244.5) 110.1 241.1 606.1

Supplemental Items

Cash Interest Paid 360.7 310.0 305.3 268.1 278.0

Cash Taxes Paid 261.3 203.3 139.0 154.5 265.5

Levered Free Cash Flow 635.0 751.7 994.9 896.4 1,075.0

Unlevered Free Cash Flow 863.0 963.9 1,179.7 1,068.6 1,258.8

Change in Net Working Capital 161.3 19.6 (125.9) (14.2) (232.7)

Net Debt Issued 115.5 (58.0) (610.6) (9.1) 429.0Filing Date Jun-17-2010 Jun-16-2011 Jun-15-2012 Jun-15-2012 Jun-15-2012

Restatement Type NC NC NC NC O

Calculation Type REP REP REP REP REP

EBITDA 1,859.2 1,783.8 1,862.1 1,958.2 2,018.3

D&A (288.9) (281.4) (302.8) (298.7) (342.8)

Interest (360.7) (310.0) (305.3) (268.1) (278.0)

Taxable Income 1,209.6 1,192.4 1,253.9 1,391.4 1,397.5

Cash Taxes 261.3 203.3 139.0 154.5 265.5

Cash Tax Rate 21.6% 17.0% 11.1% 11.1% 19.0%



24/75

LTM

12 months

Oct-28-2012

USD

1,007.5

297.6

48.2

345.8

-

58.7

20.9

(88.7)

(95.2)

41.7

104.0

(26.9)

19.1

1,386.9

(419.2)

18.8(3.3)

19.9

56.8

-

(61.6)

(388.6)

-

-

820.8-

-


25/75

(823.1)

88.5

(121.8)

(619.1)

0

(22.8)

(641.9)

-

(83.2)

(760.7)

(88.5)

149.2

278.0

265.5

864.6

1,046.6

(20.5)

(2.3)Nov-20-2012

O

LTM

2,016.8

(345.8)

(278.0)

1,393.1

265.5

19.1% 16.5%


26/75

H. J. Heinz Company (NYSE:HNZ) > Financials > Multiples

View: Data Frequency: Quarterly

Order: Latest on Right Decimals: Capital IQ (Default)

Multiples Detail

For Quarter Ending Mar-30-2012 Jun-29-2012 Sep-28-2012 Dec-31-2012

TEV/LTM Total Revenue Average 1.86x 1.85x 1.87x 1.95x

High 1.90x 1.91x 1.92x 2.01x

Low 1.84x 1.79x 1.83x 1.91x

Close 1.87x 1.83x 1.90x 1.94x

TEV/NTM Total Revenues Average 1.78x 1.79x 1.84x 1.90x

High 1.85x 1.84x 1.89x 1.94x

Low 1.76x 1.75x 1.80x 1.87x

Close 1.79x 1.80x 1.86x 1.89x

TEV/LTM EBITDA Average 10.77x 10.70x 10.79x 11.22x

High 11.61x 11.07x 11.05x 11.55x

Low 10.63x 10.34x 10.56x 10.98x

Close 10.79x 10.57x 10.93x 11.21x

TEV/NTM EBITDA Average 10.07x 10.06x 10.41x 10.88x

High 10.44x 10.32x 10.78x 11.10x

Low 9.91x 9.83x 10.11x 10.68x

Close 10.07x 10.11x 10.67x 10.75x

TEV/LTM EBIT Average 12.95x 12.87x 13.00x 13.54x

High 14.16x 13.34x 13.31x 13.94x

Low 12.79x 12.45x 12.72x 13.23x

Close 13.01x 12.73x 13.17x 13.53x

P/LTM EPS Average 17.71x 18.23x 19.10x 18.70x

High 18.16x 19.37x 20.14x 19.44x

Low 17.45x 17.32x 18.37x 17.99x

Close 17.85x 19.08x 18.53x 18.14x

P/NTM EPS Average 15.46x 15.38x 15.75x 16.49x

High 16.02x 16.07x 16.28x 17.10x

Low 15.17x 14.83x 15.35x 16.04x

Close 15.57x 15.35x 15.95x 16.48x


27/75

P/LTM Normalized EPS Average 20.29x 20.27x 20.78x 21.61x

High 22.65x 21.10x 21.51x 22.43x

Low 19.94x 19.67x 20.36x 21.01x

Close 20.44x 20.37x 20.88x 21.61x

P/BV Average 5.94x 6.04x 6.60x 6.85x

High 6.15x 6.41x 7.03x 7.29x

Low 5.84x 5.83x 6.31x 6.40x

Close 6.01x 6.31x 6.94x 6.45x

P/Tangible BV Average NM NM NM NM

High NM NM NM NM

Low NM NM NM NM

Close NM NM NM NM

TEV/LTM Unlevered FCF Average 23.96x 24.21x 17.94x 20.68x

High 26.52x 27.12x 19.57x 22.26x

Low 21.62x 16.58x 16.93x 19.46x

Close 26.44x 16.94x 19.36x 21.60x

Market Cap/LTM Levered FCF Average 24.05x 24.64x 17.29x 20.34x

High 27.33x 28.10x 19.04x 22.20x

Low 21.06x 15.78x 16.19x 18.91x

Close 27.23x 16.20x 18.79x 21.39x

Average multiples are calculated using positive close values on each trading day within the frequency periods selected. Negative values are excluded from the calculation. When the Multi

When a mismatch exists between the currency of the equity listing and the reported financial results such results are translated into the currency of the listing at the exchange rate applica


Estimate data provided by

Historical Equity Pricing Data supplied by


28/75

Feb-15-2013

2.03x

2.35x

1.96x

2.35x

1.98x

2.29x

1.89x

2.29x

11.68x

13.56x

11.27x13.53x

11.30x

13.02x

10.75x

12.92x

14.10x

16.37x

13.60x16.33x

19.08x

22.80x

18.25x

22.73x

17.50x

20.69x

16.48x20.58x


29/75

22.73x

27.17x

21.75x

27.08x

6.79x

8.11x

6.50x

8.09x

NM

NM

NM

NM

22.51x

26.14x

21.71x

26.07x

22.50x

26.89x

21.53x

26.81x

les are not meaningful, due to negative values, then they will not be displayed in the chart.

ble on the financial period end date.


30/75

H. J. Heinz Company (NYSE:HNZ) > Financials > Historical Capitalization

In Millions of the trading currency, except per share items. Frequency: Quarterly Order: Latest on RightCurrency: Trading Currency Conversion: Historical


Historical Capitalization

Balance Sheet as of:

Jul-27-2011 Oct-26-2011 Jan-25-2012 Apr-29-2012 Jul-29-2012

Pricing as of* Aug-26-2011 Nov-22-2011 Feb-21-2012 Jun-15-2012 Aug-29-2012


Capitalization DetailShare Price $51.1 $50.72 $53.62 $54.55 $56.12

Shares Out. 321.0 320.2 319.9 320.3 320.2

Market Capitalization 16,405.4 16,242.3 17,152.6 17,474.4 17,971.5

- Cash & Short Term Investments 700.5 901.2 882.9 1,355.5 985.4

+ Total Debt 4,683.1 5,057.3 5,028.1 5,095.3 5,036.5

+ Pref. Equity - - - 0.1 -

+ Total Minority Interest 209.0 161.3 165.3 166.0 82.9

= Total Enterprise Value (TEV) 20,597.0 20,559.8 21,463.1 21,380.3 22,105.5

Book Value of Common Equity 3,140.5 2,834.3 2,850.3 2,758.5 2,580.4

+ Pref. Equity - - - 0.1 -

+ Total Minority Interest 209.0 161.3 165.3 166.0 82.9

+ Total Debt 4,683.1 5,057.3 5,028.1 5,095.3 5,036.5

= Total Capital 8,032.6 8,052.9 8,043.7 8,019.9 7,699.8

* Pricing as of the filing date of the balance sheet period end date. For

TEV calculation purposes on this page Capital IQ only uses balance

sheet components from the original filing that is publicly available as

of a given pricing date and does not use restated balance sheet data

from a later filing. In the cases where a company did not disclose

balance sheet values for a particular period, TEV is calculated using

balance sheet components from the last reported balance sheet as of

this date. The table above is organized along period end dates.


31/75

** For companies that have multiple share classes that publicly trade,

we are incorporating the different prices to calculate our company

level market capitalization. Please click on the value to see the

detailed calculation. Prices shown on this page are the close price of

the companys primary stock class. Shares shown on this page are

total company as-reported share values.


Historical Equity Pricing Data supplied by


32/75

Oct-28-2012

Nov-20-2012

USD

$57.43

320.7

18,415.4

1,013.3

5,043.5

-

76.7

22,522.4

2,865.4

-

76.7

5,043.5

7,985.6


33/75


34/75

H. J. Heinz Company (NYSE:HNZ) > Financials > Capital Structure Summary

In Millions of the reported currency, except ratios and % of Total

values. Restatement: Latest Filings

Period Type: Annual



Order: Latest on Right

Capital Structure Data


Currency USD USD USD

Units Millions % of Total Millions % of Total Millions

Total Debt 4,619.2 58.3% 5,095.3 63.5% 5,043.5

Total Common Equity 3,108.9 39.2% 2,758.5 34.4% 2,865.4

Total Preferred Equity 0.1 0.0% 0.1 0.0% -

Total Minority Interest 198.2 2.5% 166.0 2.1% 76.7

Total Capital 7,926.3 100.0% 8,019.9 100.0% 7,985.6

Debt Summary Data


Currency USD USD USD

Units Millions % of Total Millions % of Total Millions

Total Commercial Paper 0 0.0% 0 0.0% 17.0

Total Revolving Credit 377.3 8.2% 386.2 7.6% 386.2

Total Term Loans 87.8 1.9% 46.5 0.9% 49.7

Total Senior Bonds and Notes 3,466.6 75.0% 4,008.4 78.7% 4,013.2Total Capital Leases - - 65.9 1.3% -

General/Other Borrowings 530.8 11.5% 457.2 9.0% 457.2

Total Principal Due 4,462.5 96.6% 4,964.1 97.4% 4,923.3

Total Adjustments 156.7 3.4% 131.2 2.6% 120.2

Total Debt Outstanding 4,619.2 100.0% 5,095.3 100.0% 5,043.5

Available Credit

Undrawn Revolving Credit - - 500.0 - 500.0

Total Undrawn Credit - - 500.0 - 500.0

Additional Totals

12 months Apr-27-2011 12 months Apr-29-2012 3 months

12 months Apr-27-2011 12 months Apr-29-2012 3 months


35/75

Total Cash & ST Investments 763.0 - 1,355.5 - 1,013.3

Net Debt 3,856.2 - 3,739.8 - 4,030.3

Total Senior Debt 4,462.5 96.6% 4,964.1 97.4% 4,923.3

Total Short-Term Borrowings 87.8 1.9% 46.5 0.9% 49.7

Curr. Port. of LT Debt/Cap. Leases 1,453.3 31.5% 212.2 4.2% 871.0

Long-Term Debt (Incl. Cap. Leases) 3,078.1 66.6% 4,836.7 94.9% 4,122.8

Total Bank Debt 465.1 10.1% 432.7 8.5% 435.9

Total Secured Debt - - 65.9 1.3% -

Total Senior Secured Debt - - 65.9 1.3% -

Total Unsecured Debt 4,462.5 96.6% 4,898.2 96.1% 4,923.3

Senior Unsecured Bonds and Notes 3,466.6 75.0% 4,008.4 78.7% 4,013.2

Fixed Rate Debt 3,904.4 84.5% 4,404.8 86.4% 4,412.9

Variable Rate Debt 377.3 8.2% 386.2 7.6% 403.2

Hedging Activities 156.7 3.4% 131.2 2.6% 7.1

Credit Ratios

Net Debt/EBITDA 2.0x - 1.9x - 2.1x

Total Debt/EBITDA 2.4x - 2.5x - 2.6x

Total Senior Debt/EBITDA 2.3x - 2.5x - 2.6x

Total Senior Secured/EBITDA - - 0.0x - -

Net Debt/(EBITDA-CAPEX) 2.4x - 2.3x - 2.6x

Total Debt/(EBITDA-CAPEX) 2.8x - 3.2x - 3.3x

Total Senior Debt/(EBITDA-CAPEX) 2.8x - 3.1x - 3.2x

Total Senior Secured/(EBITDA-CAPEX) - - 0.0x - -

Fixed Payment Schedule

LT Debt (Incl. Cap. Leases) Due +1 1,512.4 32.7% 209.5 4.1% -

LT Debt (Incl. Cap. Leases) Due +2 242.5 5.3% 1,103.6 21.7% -

LT Debt (Incl. Cap. Leases) Due +3 1,100.3 23.8% 70.0 1.4% -

LT Debt (Incl. Cap. Leases) Due +4 12.2 0.3% 15.1 0.3% -

LT Debt (Incl. Cap. Leases) Due +5 12.4 0.3% 743.9 14.6% -

LT Debt (Incl. Cap. Leases) Due, Next 5 Yrs 2,879.9 62.3% 2,142.0 42.0% -

LT Debt (Incl. Cap. Leases) Due, After 5 Yrs 1,628.0 35.2% 2,775.6 54.5% -

Cap. Lease Payment Due +1 65.3 - 9.2 - -





Cap. Lease Payment Due, Next 5 Yrs 113.7 - 48.2 - -

Cap. Lease Payment Due, After 5 Yrs 19.4 - 17.7 - -

Operating Lease Commitment Due +1 90.8 - 96.4 - -





36/75


Operating Lease Commitment Due, Next 5 Yrs 330.0 - 319.7 - -

Operating Lease Commitment Due, After 5 Yrs 194.4 - 172.9 - -

Contractual Obligations Due +1 1,056.8 - 1,136.3 - -

Contractual Obligations Due + 2 479.5 - 537.2 - -




Contractual Obligations Due, Next 5 Yrs 2,400.0 - 2,608.4 - -

Contractual Obligations Due, After 5 Yrs 211.9 - 344.7 - -

Total Contractual Obligations 2,611.9 - 2,953.0 - -

Interest Rate Data

W/Avg. Interest Rate - Long-term Debt 4.2% - 4.3% - -

Filing Date Jun-15-2012 - Jun-15-2012 - Nov-20-2012



37/75

% of Total

63.2%

35.9%

-

1.0%

100.0%

% of Total

0.3%

7.7%

1.0%

79.6%

-

9.1%

97.6%

2.4%

100.0%

--

ct-28-2012

ct-28-2012


38/75

-

-

97.6%

1.0%

17.3%

81.7%

8.6%

-

-

97.6%

79.6%

87.5%

8.0%

0.1%

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-


39/75

-

-

-

-

-

-

-

-

-

-

-

-

-


40/75

H. J. Heinz Company (NYSE:HNZ) > Financials > Capital Structure Details

Principal Due in Millions of the

reported currency. Period Type: Annual

Source: A 2012 filed Jun-15-2012


Units: S&P Capital IQ (Default) Decimals: Capital IQ (Default)

FY 2012 (Apr-29-2012) Capital Structure As Reported Details

Description Type Principal Due (USD)

Coupon/Base

Rate FloatingRate Maturity Seniority1.50% U.S. Dollar Notes Due

March 2017

Bonds and Notes 299.6 1.500% NA Mar-01-2017 Senior

2.00% Notes Due 2016 Bonds and Notes 299.9 2.000% NA Sep-01-2016 Senior

2.85% U.S. Dollar Notes Due

March 2022


3.125% Notes Due 2021 Bonds and Notes 395.3 3.125% NA Sep-01-2021 Senior

3.38% Private Placement

Notes

Bonds and Notes 100.0 3.380% NA 7-2016 - 2018 Senior


Notes

Bonds and Notes 500.0 3.480% NA 5-2014 - 2021 Senior


July 2013

Bonds and Notes 500.0 5.350% NA Jul-01-2013 Senior


March 2012

Bonds and Notes - 6.000% NA Mar-01-2012 Senior

6.25% British Pound Notes

Due February 2030

Bonds and Notes 202.2 6.250% NA Feb-01-2030 Senior

6.375% U.S. Dollar

Debentures Due July 2028



July 2011

Bonds and Notes - 6.625% NA Jul-01-2011 Senior


March 2032



August 2039

Bonds and Notes 626.7 7.125% NA Aug-01-2039 Senior

8.0% Heinz Finance Preferred

Stock Due July 15, 2013

Other Borrowings 350.0 8.000% NA Jul-15-2013 Senior

Capital Lease Obligations Capital Lease 65.9 NA NA 2016 Senior

Commercial Paper Borrowings Commercial Paper - NA NA Oct-01-2012 Senior


41/75

Japanese Yen Credit

Agreement Due October 2012

Variable Rate

Revolving Credit 186.9 4.450% NA Oct-01-2012 Senior

Other Non-U.S. Dollar Debt

Due May 2012 - May 20233.50%-11.25%

Other Borrowings 64.1 3.500% - 11.250% NA 5-2012 - 2023 Senior

Other U.S. Dollar Debt Due

May 2012 - November 2034

1.08%-7.89%


Short Term Debt from Bank Term Loans 46.5 5.100% NA Oct-28-2013 Senior

U.S. Dollar Remarketable

Securities Due December 1,

2020 6.049%

Bonds and Notes 119.0 6.049% NA Dec-01-2020 Senior

Variable Rate Japanese Yen

Credit Agreement

Revolving Credit 199.3 NA NA Dec-01-2013 Senior

FY 2011 (Apr-27-2011) Capital Structure As Reported Details

Description Type Principal Due (USD)

Coupon/Base

Rate FloatingRate Maturity Seniority


March 2017


2.00% Notes Due 2016 Bonds and Notes - 2.000% NA Sep-01-2016 Senior


March 2022


3.125% Notes Due 2021 Bonds and Notes - 3.125% NA Sep-01-2021 Senior


Notes

Bonds and Notes - 3.380% NA 7-2016 - 2018 Senior

3.48% Private PlacementNotes Bonds and Notes - 3.480% NA 5-2014 - 2021 Senior


July 2013



March 2012


6.25% British Pound Notes

Due February 2030

Bonds and Notes 206.6 6.250% NA Feb-01-2030 Senior

6.375% U.S. Dollar

Debentures Due July 2028


6.625% U.S. Dollar Notes DueJuly 2011



42/75


March 2032



August 2039

Bonds and Notes 625.6 7.125% NA Aug-01-2039 Senior

8.0% Heinz Finance PreferredStock Due July 15, 2013

Other Borrowings 350.0 8.000% NA Jul-15-2013 Senior

Commercial Paper Borrowings Commercial Paper - NA NA Oct-01-2012 Senior

Japanese Yen Credit

Agreement Due October 2012

Variable Rate

Revolving Credit 182.6 4.450% NA Oct-01-2012 Senior

Other Non-U.S. Dollar Debt

Due May 2012 - May 2023

3.50%-11.25%


Other U.S. Dollar Debt Due

May 2012 - November 2034

1.08%-7.89%


Short Term Debt from Bank Term Loans 87.8 5.100% NA Oct-28-2013 Senior

U.S. Dollar Remarketable

Securities Due December 1,

2020 6.049%

Bonds and Notes 119.0 6.049% NA Dec-01-2020 Senior

Variable Rate Japanese Yen

Credit Agreement

Revolving Credit 194.7 NA NA Dec-01-2013 Senior



43/75

Secured Convertible

Repaymen

t Currency

No No USD

No No USD

No No USD

No No USD

No No USD

No No USD

No No USD

No No USD

No No USD

No No USD

No No USD

No No USD

No No USD

No No USD

Yes No USD

No No USD


44/75

No No JPY

No No USD

No No USD

No No USD

No No USD

No No JPY

Secured Convertible

Repaymen

t Currency

No No USD

No No USD

No No USD

No No USD

No No USD

No No USD

No No USD

No No USD

No No USD

No No USD

No No USD


45/75

No No USD

No No USD

No No USD

No No USD

No No JPY

No No USD

No No USD

No No USD

No No USD

No No JPY


46/75

H. J. Heinz Company (NYSE:HNZ) > Financials > Ratios

Restatement: Latest Filings Period Type: Annual

Order: Latest on Right Decimals: Capital IQ (Default)

Ratios


Apr-30-2008

12 months

Apr-29-2009

12 months

Apr-28-2010

12 months

Apr-27-2011

12 months

Apr-29-2012

Profitability

Return on Assets % 9.5% 9.3% 9.9% 9.3% 8.6%

Return on Capital % 14.1% 13.9% 15.0% 14.3% 13.1%

Return on Equity % 40.7% 58.4% 57.7% 38.3% 30.2%

Return on Common Equity % 45.1% 59.6% 58.6% 39.5% 31.4%

Margin Analysis

Gross Margin % 36.9% 35.7% 36.2% 36.9% 35.5%

SG&A Margin % 21.1% 20.6% 21.3% 21.4% 21.2%

EBITDA Margin % 18.8% 17.8% 17.7% 18.3% 17.3%

EBITA Margin % 16.3% 15.4% 15.3% 15.9% 14.8%

EBIT Margin % 15.9% 15.0% 14.9% 15.5% 14.4%

Earnings from Cont. Ops Margin % 8.7% 9.4% 8.9% 9.4% 8.1%

Net Income Margin % 8.5% 9.2% 8.2% 9.2% 7.9%

Net Income Avail. for Common Margin % 8.5% 9.2% 8.7% 9.2% 7.9%

Normalized Net Income Margin % 7.7% 8.1% 7.5% 7.9% 7.4%

Levered Free Cash Flow Margin % 6.4% 7.5% 9.5% 8.4% 9.2%

Unlevered Free Cash Flow Margin % 8.7% 9.6% 11.2% 10.0% 10.8%

Asset Turnover

Total Asset Turnover 1.0x 1.0x 1.1x 1.0x 1.0x

Fixed Asset Turnover 4.8x 4.9x 5.2x 4.7x 4.7x

Accounts Receivable Turnover 9.2x 9.8x 12.5x 11.7x 12.6xInventory Turnover 4.8x 4.9x 5.4x 5.0x 5.4x

Short Term Liquidity

Current Ratio 1.2x 1.4x 1.4x 0.9x 1.5x

Quick Ratio 0.7x 0.7x 0.7x 0.5x 0.9x

Cash from Ops. to Curr. Liab. 0.4x 0.6x 0.6x 0.4x 0.6x

Avg. Days Sales Out. 39.7 37.1 29.1 31.2 29.3

Avg. Days Inventory Out. 75.2 73.9 67.5 72.8 68.1

Avg. Days Payable Out. 68.9 63.6 53.2 61.4 63.3

Avg. Cash Conversion Cycle 46.0 47.4 43.4 42.6 34.2


47/75

Long Term Solvency

Total Debt/Equity 265.3% 402.0% 237.6% 139.7% 174.2%

Total Debt/Capital 72.6% 80.1% 70.4% 58.3% 63.5%

LT Debt/Equity 242.2% 396.9% 234.4% 93.1% 165.4%

LT Debt/Capital 66.3% 79.1% 69.4% 38.8% 60.3%Total Liabilities/Total Assets 81.5% 86.8% 80.7% 73.0% 75.6%

EBIT / Interest Exp. 4.3x 4.4x 5.3x 6.0x 5.7x

EBITDA / Interest Exp. 5.1x 5.3x 6.3x 7.1x 6.9x

(EBITDA-CAPEX) / Interest Exp. 4.3x 4.4x 5.4x 5.9x 5.4x

Total Debt/EBITDA 2.8x 2.9x 2.5x 2.4x 2.5x

Net Debt/EBITDA 2.5x 2.6x 2.2x 2.0x 1.9x

Total Debt/(EBITDA-CAPEX) 3.3x 3.4x 2.9x 2.8x 3.2x

Net Debt/(EBITDA-CAPEX) 2.9x 3.2x 2.6x 2.4x 2.3x

Altman Z Score 3.33 3.56 3.56 3.14 3.56

Growth Over Prior Year

Total Revenue 9.8% 1.3% 4.8% 2.0% 8.8%

Gross Profit 7.6% (2.3%) 6.3% 4.2% 4.7%

EBITDA 8.5% (4.1%) 4.4% 5.2% 3.1%

EBITA 8.7% (4.1%) 4.2% 5.9% 1.2%

EBIT 8.5% (4.3%) 3.8% 6.4% 1.0%

Earnings from Cont. Ops. 8.4% 10.0% (1.3%) 7.9% (6.6%)

Net Income 7.5% 9.2% (6.3%) 14.4% (6.7%)

Normalized Net Income 7.8% 6.9% (2.6%) 7.7% 1.6%

Diluted EPS before Extra 10.1% 11.1% (1.4%) 6.6% (6.9%)

Accounts Receivable 16.5% (24.1%) (9.8%) 30.7% (21.5%)

Inventory 15.0% (10.2%) 0.9% 16.2% (8.4%)

Net PP&E 5.3% (6.0%) 5.7% 19.8% (0.8%)

Total Assets 5.3% (8.5%) 4.3% 21.4% (2.0%)

Tangible Book Value NM NM NM NM NMCommon Equity 2.5% (35.4%) 55.0% 64.4% (11.3%)

Cash from Ops. 8.4% (1.8%) 8.2% 25.5% (5.7%)

Capital Expenditures 23.3% (3.1%) (5.0%) 20.9% 24.8%

Levered Free Cash Flow (13.0%) 18.4% 32.4% (9.9%) 19.9%

Unlevered Free Cash Flow (8.0%) 11.7% 22.4% (9.4%) 17.8%

Dividend per Share 8.6% 9.2% 1.2% 7.1% 6.7%

Compound Annual Growth Rate Over Two Years

Total Revenue 6.9% 5.5% 3.0% 3.4% 5.4%

Gross Profit 7.1% 2.6% 1.9% 5.2% 4.4%EBITDA 7.3% 2.0% 0.1% 4.8% 4.1%

EBITA 7.7% 2.1% (0.0%) 5.1% 3.5%


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EBIT 7.9% 1.9% (0.4%) 5.1% 3.7%

Earnings from Cont. Ops. 39.2% 9.2% 4.2% 3.2% 0.4%

Net Income 14.4% 8.4% 1.2% 3.5% 3.3%

Normalized Net Income 7.6% 7.4% 2.1% 2.4% 4.6%

Diluted EPS before Extra 42.5% 10.6% 4.7% 2.5% (0.3%)

Accounts Receivable 7.7% (6.0%) (17.3%) 8.6% 1.3%

Inventory 13.3% 1.6% (4.8%) 8.3% 3.2%

Net PP&E 5.2% (0.5%) (0.3%) 12.5% 9.0%

Total Assets 4.2% (1.9%) (2.3%) 12.5% 9.1%

Tangible Book Value NM NM NM NM NM

Common Equity (4.0%) (18.6%) 0.1% 59.6% 20.8%

Cash from Ops. 4.5% 3.2% 3.1% 16.5% 8.8%

Capital Expenditures 14.4% 9.3% (4.1%) 7.2% 22.8%

Levered Free Cash Flow (17.5%) 1.5% 25.2% 9.2% 4.0%

Unlevered Free Cash Flow (12.6%) 1.4% 16.9% 5.3% 3.3%


Compound Annual Growth Rate Over Three Years

Total Revenue 6.9% 5.0% 5.2% 2.7% 5.2%

Gross Profit 6.4% 3.9% 3.8% 2.7% 5.1%

EBITDA 6.6% 3.4% 2.8% 1.7% 4.2%

EBITA 7.2% 3.6% 2.8% 1.9% 3.7%

EBIT 7.0% 3.6% 2.5% 1.9% 3.7%

Earnings from Cont. Ops. 7.6% 28.7% 5.6% 5.4% (0.2%)

Net Income 3.9% 12.7% 3.3% 5.4% 0.0%

Normalized Net Income 4.5% 7.4% 3.9% 3.9% 2.1%

Diluted EPS before Extra 10.3% 31.1% 6.4% 5.3% (0.7%)

Accounts Receivable 2.1% (4.2%) (7.3%) (3.6%) (2.5%)

Inventory 3.1% 4.9% 1.4% 1.7% 2.4%

Net PP&E (0.9%) 1.3% 1.5% 6.0% 7.9%

Total Assets (0.0%) (0.3%) 0.1% 5.0% 7.4%


Common Equity (10.2%) (15.9%) 0.9% 18.1% 31.3%

Cash from Ops. (0.0%) 2.4% 4.8% 10.0% 8.6%

Capital Expenditures 7.8% 8.2% 4.3% 3.6% 12.8%

Levered Free Cash Flow 7.0% (6.9%) 10.9% 12.2% 12.7%

Unlevered Free Cash Flow 9.2% (5.2%) 7.9% 7.4% 9.3%


Compound Annual Growth Rate Over Five YearsTotal Revenue 3.7% 5.6% 5.3% 4.4% 5.3%

Gross Profit 4.1% 4.3% 4.6% 4.4% 4.1%

EBITDA 3 4% 3 1% 4 0% 3 9% 3 3%


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EBITDA 3.4% 3.1% 4.0% 3.9% 3.3%

EBITA 3.1% 3.2% 4.2% 4.2% 3.1%

EBIT 2.9% 3.0% 4.0% 4.2% 3.0%

Earnings from Cont. Ops. 9.1% 5.7% 6.3% 17.8% 3.5%

Net Income 8.3% 2.8% 2.8% 8.9% 3.3%Normalized Net Income 2.0% 3.6% 3.5% 5.4% 4.2%

Diluted EPS before Extra 10.8% 7.6% 8.0% 18.9% 3.7%

Accounts Receivable (0.1%) (4.2%) (6.2%) 0.7% (3.9%)

Inventory 3.6% 1.4% (0.1%) 6.2% 2.1%

Net PP&E 1.5% (0.8%) (0.7%) 5.7% 4.5%

Total Assets 2.8% (0.4%) (1.0%) 4.7% 3.6%


Common Equity 9.5% (8.4%) (6.2%) 8.7% 8.4%Cash from Ops. 3.3% (1.4%) 1.2% 7.8% 6.4%

Capital Expenditures 14.4% 4.7% 2.9% 7.8% 11.4%

Levered Free Cash Flow (15.0%) (5.8%) 14.0% (0.8%) 8.1%

Unlevered Free Cash Flow (11.3%) (3.4%) 12.2% (1.1%) 6.1%




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LTM

12 months

Oct-28-2012

8.7%

13.0%

35.1%

36.1%

35.7%

21.3%

17.4%

14.8%

14.4%

9.0%8.7%

8.8%

7.4%

7.4%

9.0%

1.0x

4.8x

13.0x4.7x

1.2x

0.6x

0.4x

28.3

77.9

62.1

44.0


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171.4%

63.2%

140.1%

51.6%75.3%

5.7x

6.9x

5.5x

2.5x

2.0x

3.2x

2.5x

3.57

3.2%

1.4%

2.4%

1.8%

1.7%

6.4%

4.9%

1.7%

7.4%

6.8%

(5.0%)

1.6%

(1.6%)

NM1.1%

2.8%

7.9%

9.0%

7.6%

7.0%

5.2%

3.6%2.4%

1.4%

1.4%


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4.0%

5.1%

2.1%

3.6%

7.0%

6.5%

7.0%

6.8%

NM

9.5%

0.1%

17.5%(13.7%)

(11.4%)

6.9%

5.2%

5.2%

3.9%

3.3%

3.3%

5.1%

5.4%

3.9%

4.8%

4.6%

0.8%

4.9%

5.1%

NM

14.1%

(1.7%)

16.7%

(4.0%)

(4.1%)

6.0%

4.2%

3.2%

2.2%


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1.8%

1.8%

4.6%

3.9%3.1%

4.5%

(4.4%)

0.3%

3.3%

2.0%

NM

7.4%6.5%

7.8%

12.8%

8.3%

6.4%


54/75

H. J. Heinz Company (NYSE:HNZ) > Financials > Supplemental

In Millions of the reported currency, except per share items. Restatement: Latest Filings Period Type: Annual

Currency: Reported Currency Conversion: HistoricalOrder: Latest on Right Units: S&P Capital IQ (Defau


Supplemental


May-02-2007

12 months

Apr-30-2008

12 months

Apr-29-2009

12 months

Apr-28-2010

12 months

Apr-27-2011


Options Outstanding

Options Out. at the Beginning of the Period 31.5 24.8 22.1 14.1 12.9

Options Granted During the Period 0.9 1.4 1.6 1.8 1.7

Options Exercised During the Period 7.3 2.1 6.7 2.9 4.8

Options Cancelled During the Period 0.3 1.9 2.9 0.0 0.1

Options Out. at the End of the Period 24.8 22.1 14.1 12.9 9.8

W/Avg. Strike Price of Out. at the End of the Period $40.39 $40.06 $38.59 $39.36 $42.38

W/Avg. Strike Price of Granted $41.92 $45.54 $50.91 $39.12 $46.42

Options Outstanding - All Classes

Options Out. at the Beginning of the Period 31.5 24.8 22.1 14.1 12.9

Options Granted During the Period 0.9 1.4 1.6 1.8 1.7

Options Exercised During the Period 7.3 2.1 6.7 2.9 4.8

Options Cancelled During the Period 0.3 1.9 2.9 0.0 0.1

Options Out. at the End of the Period 24.8 22.1 14.1 12.9 9.8

Stock Based Compensation

Restr. Stock Comp. Exp., Before Tax 18.7 21.1 26.6 24.8 23.2

Stock Based Comp. Exp., Before Tax 46.2 55.5 55.3 54.1 54.2

Stock Based Comp. Exp. Tax Effect (16.6) (19.2) (18.7) (17.3) (17.8)

Stock Based Comp. Exp., After Tax 29.6 36.3 36.6 36.8 36.4

Loss Carry Forward Related Items

NOL C/F, After Five Years 46.1 70.9 145.7 193.2 288.8

NOL C/F, No Expiration 73.4 54.3 140.1 119.5 130.4

Total NOL C/F 119.5 125.2 285.8 312.7 419.2

Tax Benefit C/F, After Five Years - - 34.7 62.3 18.1

Total Tax Benefit C/F - - 34.7 62.3 18.1

Max. Year for Tax Benefit C/F - - - - 2020

Adoption of FIN 48 Related Items

Impact on Retained Earnings - 11.0 - - -


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Unrecognized Tax Benefits - Beginning of Period - 183.7 129.1 86.6 57.1

Increase in Unrecog. Tax Benefits - Current Yr. - 9.9 13.1 10.4 10.8

Increase in Unrecog. Tax Benefits - Prior Yrs. - 10.6 9.4 3.7 13.5Decrease in Unrecog. Tax Benefits - Prior Yrs. - (31.0) (59.5) (35.4) (26.0)

Settlements with Tax Authorities - (41.0) (0.8) (0.8) (5.4)

Lapse of Statute of Limitations - (3.1) (8.5) (7.4) (6.2)

Unrecog. Tax Benefits - Other Adjustments - - 3.8 - 26.9

Unrecognized Tax Benefits - End of Period - 129.1 86.6 57.1 70.7

Interest and Penalties Recog. on IS - Before Tax - 11.3 2.5 (4.2) (1.2)

Interest and Penalties Recog. on BS - Before Tax - - - - 48.4

Changes in Unrecog. Tax Benefit w/in 1 Year - Max - - - - -Unrecog. Tax Benefit Impacting Effective Tax Rate - - - - 56.5

Capitalized Interest Data

Interest Capitalized - - - 2.7 1.9

Interest Capitalized, Expensed 2.8 1.4 0.6 0.4 0.8

Fair Value Measurements

Level 1 Assets - Quoted Prices - - - - 60.1

Level 2 Assets - Observable Prices - - 219.8 133.8 115.7

Fair Value of Assets - - 219.8 133.8 175.8

Level 2 Liabilities - Observable Prices - - 12.8 36.0 43.0

Level 3 Liabilities - Unobservable Prices - - - - 45.3

Fair Value of Liabilities - - 12.8 36.0 88.3




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lt)

12 months

Apr-29-2012

USD

9.8

1.6

2.8

0.0

8.6

$45.69

$52.19

9.81.6

2.8

0.0

8.6

25.7

54.9

(18.5)

36.4

252.7

240.7

493.4

49.1

49.1

2022

-


57/75

70.7

3.7

5.2(18.0)

(2.2)

(6.7)

-

52.7

(4.8)

29.8

(26.2)38.9

0.5

0.8

-

90.2

90.2

15.4

46.9

62.3

Jun-15-2012

H J Heinz Company (NYSE:HNZ) > Financials > Pension/OPEB


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H. J. Heinz Company (NYSE:HNZ) > Financials > Pension/OPEB

In Millions of the reported currency, except per share items. Restatement: Latest Filings Period Type: Annual

Currency: Reported Currency Conversion: HistoricalOrder: Latest on Right Units: S&P Capital IQ (Defau


Pension/OPEB


May-02-2007

12 months

Apr-30-2008

12 months

Apr-29-2009

12 months

Apr-28-2010

12 months

Apr-27-2011


Pension Information - Total

Defined Benefit Net Periodic Cost

Def. Benefit Service Cost 42.9 39.8 33.3 30.5 32.3

Def. Benefit Plan Interest Cost 136.0 152.1 143.6 149.6 142.1

Def. Benefit Plan Return on Assets (198.5) (227.4) (207.8) (211.4) (229.3)

Def. Benefit Plan Other Cost 51.2 42.7 35.6 56.7 82.2

Def. Benefit Plan Total Cost 31.6 7.3 4.8 25.4 27.4

Def. Contribution Plan Cost 34.9 34.0 36.4 47.4 49.1

Total Pension Expense 66.5 41.3 41.2 72.7 76.5

Defined Benefit Obligation

Beg. Def. Benefit Obligation 2,601.2 2,794.7 2,843.2 2,230.1 2,586.0


Def. Benefit Interest Cost 136.0 152.1 143.6 149.6 142.1

Def. Benefit Employee Contributions 10.3 13.1 8.0 2.7 2.4

Def. Benefit Actuarial Gain/Losses 21.3 (89.8) (133.2) 238.2 (8.5)

Def. Benefits Paid (143.3) (149.0) (149.1) (156.8) (159.3)

Def. Benefit Settlement/Curtailment (10.7) - (8.7) (8.6) (3.3)

Other Adj. To Def. Benefit Obligation 136.9 82.3 (507.0) 100.3 173.5

Proj. Benefit Obligation (Pension) 2,794.7 2,843.2 2,230.1 2,586.0 2,765.3

Accum. Benefit Obligation 2,561.1 2,600.2 2,092.1 2,414.3 2,602.0

Plan Assets

Beg. Plan Assets 2,621.2 2,888.8 2,793.1 1,874.7 2,870.0

Actual Return on Plan Assets 207.5 (79.8) (411.6) 562.0 318.5

Employer Contributions 62.5 59.8 133.7 539.9 22.4

Participant Contributions 10.3 13.1 8.0 2.7 2.4

Benefits Paid (143.3) (149.0) (149.1) (156.8) (159.3)

Foreign Exchange Adjustments 141.4 60.3 (487.4) 52.5 -Plan Settlement/Curtailment (10.7) - (8.7) (4.7) (3.3)

Other Plan Adjustments (0.2) - (3.4) (0.4) 211.1

Total Plan Assets 2,888.8 2,793.1 1,874.7 2,870.0 3,261.9


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Total Plan Assets 2,888.8 2,793.1 1,874.7 2,870.0 3,261.9

Weighted Avg. Assumptions on Net Periodic Cost

Net Periodic Cost Disc. Rate - Min 5.3% 5.5% 6.1% 6.5% 5.6%Net Periodic Cost Disc. Rate - Max 5.3% 5.5% 6.1% 6.5% 5.6%

Rate of Comp. Increase - Min 4.0% 5.0% 4.5% 4.3% 4.0%

Rate of Comp. Increase - Max 4.0% 5.0% 4.5% 4.3% 4.0%

Exp. Long-Term Rate of Return on Assets - Min 8.2% 8.2% 8.2% 8.1% 8.2%

Exp. Long-Term Rate of Return on Assets - Max 8.2% 8.2% 8.2% 8.1% 8.2%

Breakdown of Plan Assets

Plan Assets - Equities (%) 68.0% 65.0% 58.0% 58.0% 62.0%

Plan Assets - Fixed Income (%) 29.0% 32.0% 37.0% 29.0% 32.0%

Plan Assets- Real Estate (%) 1.0% 1.0% 1.0% 1.0% 3.0%Other Plan Assets (%) 2.0% 2.0% 4.0% 12.0% 3.0%

Breakdown of Plan Assets

Plan Assets - Equities 1,964.4 1,815.5 1,087.3 1,664.6 2,022.4

Plan Assets - Fixed Income 837.7 893.8 693.6 832.3 1,043.8

Plan Assets- Real Estate 28.9 27.9 18.7 28.7 97.9

Other Plan Assets 57.8 55.9 75.0 344.4 97.9

Weighted Avg. Assumptions on Def. Benefit Obligation

PBO Assumed Rate of Return - Min - - - - 5.5%

PBO Assumed Rate of Return - Max - - - - 5.5%

Rate of PBO Compensation Increase - Min - - - - 3.8%

Rate of PBO Compensation Increase - Max - - - - 3.8%

Estimated Future Benefits Paid

Est. Future Benefits Paid - 1st Yr 146.7 168.8 165.8 169.3 201.9

Est. Future Benefits Paid - 2nd Yr 154.0 166.0 156.2 188.1 189.0

Est. Future Benefits Paid - 3rd Yr 155.5 168.3 153.0 176.9 192.7

Est. Future Benefits Paid - 4th Yr 158.9 172.5 152.2 180.8 188.4


Est. Future Benefits Paid - Thereafter 951.3 879.3 785.5 940.3 1,008.9

Balance Sheet Reconciliation Items

Accrued Benefit Liability - - (22.5) (12.8) (31.6)

Adj. for Liability Recognized on Balance Sheet

Net Asset/Liability Recognized on Balance Sheet 94.1 (50.1) (355.4) 284.0 496.6

Other Compr. Income Components Recognized on the BSNet Actuarial Loss/Gain 633.5 802.7 1,258.5 1,085.5 909.8

Prior Service Cost/Benefit 11.7 25.6 24.9 30.7 28.6

Net Amount Recognized 645.2 828.3 1,283.4 1,116.2 938.4


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Consolidated Balance Sheet Amounts

Long Term Assets 284.6 191.1 37.3 424.6 644.6

Current Liabilities (8.5) (19.8) (22.5) (12.8) (31.6)Long Term Liabilities (182.0) (221.3) (370.2) (127.7) (116.4)

Net Periodic Benefit Cost to be Recognized in the Subsequent Period

Prior Service Cost/Credit - 3.6 2.0 2.4 2.0

Net Actuarial Loss/Gain - 36.5 51.2 77.0 85.9

Total Amount to be Recognized - 40.1 53.2 79.3 88.0

Other Pension Related Items

Est. Contributions - Next Year 55.0 60.0 250.0 50.0 40.0

Benefit Info Date - - Apr-30-2009 Apr-28-2010 Apr-27-2011

OPEB Information - Total




Def. Benefit Other Cost (0.6) (0.2) (0.1) (3.3) (3.6)

Def. Benefit Total Cost 21.5 21.9 21.7 17.8 15.5

Total OPEB Expense 21.5 21.9 21.7 17.8 15.5


Beg. Def. Benefit Obligation 273.4 273.2 276.6 234.2 235.3




Def. Benefit Actuarial Gain/Losses (2.3) (5.5) (37.8) 9.7 (3.8)


Other Adj. To Def. Benefit Obligation 0.1 6.3 (8.7) (12.2) 0.1

Proj. Benefit Obligation 273.2 276.6 234.2 235.3 234.4

Plan Assets

Employer Contributions - - 17.8 17.5 16.2

Participant Contributions - - 0.8 0.9 0.8

Benefits Paid - - (18.6) (18.4) (17.0)

Weighted Avg. Assumptions on Net Periodic Cost

Net Periodic Cost Disc. Rate - Min 6.1% 5.9% 5.9% 6.4% 5.5%

Net Periodic Cost Disc. Rate - Max 6.1% 5.9% 5.9% 6.4% 5.5%

Weighted Avg. Assumptions on Def. Benefit Obligation

PBO Assumed Rate of Return - Min - - - - 5.0%

PBO Assumed Rate of Return - Max - - - - 5.0%


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Est. Future Benefits Paid - 2nd Yr 21.5 22.6 19.1 19.3 18.4Est. Future Benefits Paid - 3rd Yr 22.5 23.8 20.0 19.4 18.8



Est. Future Benefits Paid - Thereafter 118.6 132.2 107.6 102.5 101.1




Net Asset/Liability Recognized on Balance Sheet (273.2) (276.6) (234.2) (235.3) (234.4)

Benefits Sensitivity Analysis

1% Increase - Effect on Service and Interest Cost - - - - -

1% Increase - Effect on PBO - - - - -

1% Decrease - Effect on Service and Interest Cost - - - - -

1% Decrease - Effect on PBO - - - - -

Other Compr. Income Components Recognized on the BS

Net Actuarial Loss/Gain 59.7 50.3 8.1 17.2 11.8

Prior Service Cost/Benefit (14.0) (8.2) (4.5) (21.8) (20.3)

Net Amount Recognized 45.7 42.1 3.6 (4.6) (8.5)


Current Liabilities (20.1) (19.5) (19.4) (18.9) (18.3)

Long Term Liabilities (253.1) (257.1) (214.8) (216.4) (216.2)


Prior Service Cost/Benefit - (3.8) (3.8) (5.2) (6.1)


Total Amount to be Recognized - (0.1) (3.3) (3.6) (5.0)

Other Post-Retirement Benefit Related Items

Health Care Cost Trend Rate, Initial - - - - -

Health Care Cost Trend Rate, Ultimate - - - - -

Benefit Info Date - - Apr-30-2009 Apr-28-2010 Apr-27-2011

Pension Information - Domestic


Def. Benefit Service Cost 42.9 39.8 33.3 30.5 32.3Def. Benefit Interest Cost 136.0 152.1 143.6 149.6 142.1

Def. Benefit Return On Assets (198.5) (227.4) (207.8) (211.4) (229.3)

Def. Benefit Other Cost 51.2 42.7 35.6 56.7 82.2



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Beg. Def. Benefit Obligation 2,601.2 2,794.7 2,843.2 2,230.1 2,586.0Def. Benefit Service Cost 42.9 39.8 33.3 30.5 32.3



Def. Benefit Actuarial Gain/Losses 21.3 (89.8) (133.2) 238.2 (8.5)


Def. Benefit Settlement/Curtailment (10.7) - (8.7) (8.6) (3.3)

Other Adj. To Def. Benefit Obligation 136.9 82.3 (507.0) 100.3 173.5

Proj. Benefit Obligation (Pension) - Domestic 2,794.7 2,843.2 2,230.1 2,586.0 2,765.3

Accum. Benefit Obligation 2,561.1 2,600.2 2,092.1 2,414.3 2,602.0

Plan Assets

Beg. Plan Assets 2,621.2 2,888.8 2,793.1 1,874.7 2,870.0

Actual Return on Plan Assets 207.5 (79.8) (411.6) 562.0 318.5

Employer Contributions 62.5 59.8 133.7 539.9 22.4

Participant Contributions 10.3 13.1 8.0 2.7 2.4

Benefits Paid (143.3) (149.0) (149.1) (156.8) (159.3)

Foreign Exchange Adjustments 141.4 60.3 (487.4) 52.5 -

Plan Settlement/Curtailment (10.7) - (8.7) (4.7) (3.3)

Other Plan Adjustments (0.2) - (3.4) (0.4) 211.1Total Plan Assets 2,888.8 2,793.1 1,874.7 2,870.0 3,261.9







Est. Future Benefits Paid - Thereafter 951.3 879.3 785.5 940.3 1,008.9




Net Asset/Liability Recognized on Balance Sheet 94.1 (50.1) (355.4) 284.0 496.6


Net Actuarial Loss/Gain 633.5 802.7 1,258.5 1,085.5 909.8

Prior Service Cost/Benefit 11.7 25.6 24.9 30.7 28.6Net Amount Recognized 645.2 828.3 1,283.4 1,116.2 938.4


Long Term Assets 284.6 191.1 37.3 424.6 644.6

C t Li biliti (8 5) (19 8) (22 5) (12 8) (31 6)


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Prior Service Cost/Credit - 3.6 2.0 2.4 2.0


Total Amount to be Recognized - 40.1 53.2 79.3 88.0


Est. Contributions - Next Year 55.0 60.0 250.0 50.0 40.0

Benefit Info Date Apr-30-2007 Apr-30-2008 Apr-30-2009 Apr-28-2010 Apr-27-2011

OPEB Information - DomesticDefined Benefit Net Periodic Cost



Def. Benefit Other Cost (0.6) (0.2) (0.1) (3.3) (3.6)



Beg. Def. Benefit Obligation 273.4 273.2 276.6 234.2 235.3


Def. Benefit Interest Cost 15.9 15.6 15.4 15.1 12.7Def. Benefit Employee Contributions 0.9 1.0 0.8 0.9 0.8

Def. Benefit Actuarial Gain/Losses (2.3) (5.5) (37.8) 9.7 (3.8)


Other Adj. To Def. Benefit Obligation 0.1 6.3 (8.7) (12.2) 0.1

Proj. Benefit Obligation 273.2 276.6 234.2 235.3 234.4

Plan Assets

Employer Contributions - - 17.8 17.5 16.2

Participant Contributions - - 0.8 0.9 0.8

Benefits Paid - - (18.6) (18.4) (17.0)







Est. Future Benefits Paid - Thereafter 118.6 132.2 107.6 102.5 101.1




Net Asset/Liability Recognized on Balance Sheet (273 2) (276 6) (234 2) (235 3) (234 4)


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Net Asset/Liability Recognized on Balance Sheet (273.2) (276.6) (234.2) (235.3) (234.4)

Benefits Sensitivity Analysis1% Increase - Effect on Service and Interest Cost - - - - -

1% Increase - Effect on PBO - - - - -

1% Decrease - Effect on Service and Interest Cost - - - - -

1% Decrease - Effect on PBO - - - - -


Net Actuarial Loss/Gain 59.7 50.3 8.1 17.2 11.8

Prior Service Cost/Benefit (14.0) (8.2) (4.5) (21.8) (20.3)

Net Amount Recognized 45.7 42.1 3.6 (4.6) (8.5)





Prior Service Cost/Credit - (3.8) (3.8) (5.2) (6.1)


Total Amount to be Recognized - (0.1) (3.3) (3.6) (5.0)

Other Post-Retirement Benefit Related ItemsBenefit Info Date Apr-30-2007 Apr-30-2008 Apr-30-2009 Apr-28-2010 Apr-27-2011

Pension Information - Foreign


Benefit Info Date Mar-31-2007 Mar-31-2008 Apr-30-2009 Apr-28-2010 Apr-27-2011

OPEB Information - Foreign

Other Post-Retirement Benefit Related Items

Benefit Info Date Mar-31-2007 Mar-31-2008 Apr-30-2009 Apr-28-2010 Apr-27-2011



65/75

lt)

12 months

Apr-29-2012

USD

33.7

139.5

(234.7)

86.9

25.4

46.6

72.0

2,765.3

33.7

139.5

2.3

196.6

(152.3)

(1.9)

(52.9)

2,930.3

2,791.8

3,261.9

84.0

23.5

2.3

(152.3)

-(1.9)

(76.6)

3,140.8


66/75

4.8%

4.8%

3.4%

3.4%

8.2%

8.2%

61.0%

31.0%

7.0%1.0%

1,915.9

973.7

219.9

31.4

4.8%4.8%

3.4%

3.4%

171.5

186.6

171.4

174.1

174.5

891.7

(15.9)

210.5

1,174.2

30.1

1,204.3


67/75

399.9

(15.9)

(173.4)

2.6

77.2

79.8

80.0

Apr-29-2012

6.0

11.5

(5.0)

12.4

12.4

234.4

6.0

11.5

0.7

17.3

(19.6)

(1.3)

249.0

18.9

0.7

(19.6)

4.1%

4.1%

4.1%

4.1%


68/75

17.6

18.3

18.7

19.2

19.8

99.8

(17.6)

(249.0)

1.6

17.5

(1.4)

(15.9)

28.0

(13.5)14.5

(17.6)

(231.5)

(6.2)

1.8

(4.4)

7.1%

4.8%

Apr-29-2012

33.7139.5

(234.7)

86.9

25.4


69/75

2,765.3

33.7

139.5

2.3

196.6

(152.3)

(1.9)

(52.9)

2,930.3

2,791.8

3,261.9

84.0

23.5

2.3

(152.3)

-

(1.9)

(76.6)3,140.8

171.5

186.6

171.4

174.1

174.5

891.7

(15.9)

210.5

1,174.2

30.1

1,204.3

399.9

(15.9)

(173 4)


70/75

(173.4)

2.6

77.2

79.8

80.0

Apr-29-2012

6.0

11.5

(5.0)

12.4

234.4

6.0

11.50.7

17.3

(19.6)

(1.3)

249.0

18.9

0.7

(19.6)

17.6

18.3

18.7

19.2

19.8

99.8

(17.6)

(249.0)


71/75

1.6

17.5

(1.4)

(15.9)

28.0

(13.5)

14.5

(17.6)

(231.5)

(6.2)

1.8

(4.4)

Apr-29-2012

Apr-29-2012

Apr-29-2012

H. J. Heinz Company (NYSE:HNZ) > Financials > Segments

I Milli f th t d Vi B Li It R t t t L t t Fili


72/75

In Millions of the reported currency. View By: Line Items Restatement: Latest Filings

Period Type: Annual Order: Latest on RightCurrency: Reported Currency Conversion: Historical


Business Segments


May-02-2007

Restated

12 months

Apr-30-2008

Restated

12 months

Apr-29-2009

Reclassified

12 months

Apr-28-2010

Reclassified

12 months

Apr-27-2011


RevenuesNorth American Consumer Products 2,739.5 3,011.5 3,136.0 3,192.2 3,265.9

Europe 3,076.8 3,418.2 3,329.0 3,332.6 3,236.8

Asia/Pacific 1,319.2 1,599.9 1,627.4 2,007.3 2,320.8

U.S. Foodservice 1,556.3 1,488.2 1,450.9 1,429.5 1,413.5

Rest of World 309.8 367.7 468.0 533.4 469.7

Total Revenues 9,001.6 9,885.6 10,011.3 10,495.0 10,706.6

Operating Profit Before Tax

North American Consumer Products 625.7 678.4 724.8 771.5 832.7

Europe 566.4 646.3 571.1 554.3 581.1Asia/Pacific 150.2 194.9 182.5 195.3 221.6

U.S. Foodservice 216.1 163.0 129.4 150.6 176.0

Rest of World 39.5 45.4 52.3 69.2 53.4

Corporate (151.1) (157.8) (157.6) (181.7) (216.6)

Total Operating Profit Before Tax 1,446.7 1,570.3 1,502.4 1,559.2 1,648.2

Assets

North American Consumer Products 3,752.0 3,719.8 3,605.7 3,532.5 3,633.3

Europe 4,166.2 4,731.8 3,602.8 3,815.2 4,398.9

Asia/Pacific 1,213.9 1,433.5 1,505.9 1,869.6 2,424.7

Rest of World 189.5 235.6 292.3 276.9 1,149.8

Corporate 711.4 444.4 657.6 581.6 623.9

Total Assets 10,033.0 10,565.0 9,664.2 10,075.7 12,230.6

Depreciation & Amortization

North American Consumer Products 112.0 118.9 122.2 122.8 123.8

Europe 108.5 111.5 101.9 105.7 91.2

Asia/Pacific 29.4 35.4 36.0 47.0 53.3

Rest of World 5.0 5.7 5.7 6.6 6.3

Corporate 11.3 10.0 8.3 17.0 24.0

Total Depreciation & Amortization 266.2 281.5 274.1 299.1 298.7

Capital Expenditure

North American Consumer Products (98.0) (121.9) (87.9) (88.8) (101.0)


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o e ca Co su e oduc s (98 0) ( 9) (8 9) (88 8) ( 0 0)

Europe (99.9) (119.4) (91.9) (74.1) (98.0)

Asia/Pacific (36.9) (36.4) (39.3) (46.1) (71.4)

Rest of World (7.6) (10.1) (15.6) (11.8) (12.8)

Corporate (2.2) (13.8) (57.5) (56.8) (52.4)

Total Capital Expenditure (244.6) (301.6) (292.1) (277.6) (335.6)


Geographic Segments


May-02-2007

Restated

12 months

Apr-30-2008

Restated

12 months

Apr-29-2009

Reclassified

12 months

Apr-28-2010

Reclassified

12 months

Apr-27-2011


Revenues

United States 3,809.8 3,900.2 4,019.0 3,993.7 3,991.3

United Kingdom 1,643.3 1,729.9 1,534.4 1,519.3 1,506.6

Other 3,548.6 4,255.5 4,458.0 4,982.0 5,208.6

Total Revenues 9,001.6 9,885.6 10,011.3 10,495.0 10,706.6

Assets

United States 2,377.9 2,393.7 2,402.8 2,403.1 2,425.4

United Kingdom 1,588.2 1,582.1 1,166.1 1,151.7 1,245.0

Other 2,171.9 2,540.4 2,392.4 2,605.7 3,731.8

Total Assets 6,138.0 6,516.2 5,961.3 6,160.4 7,402.3




74/75

12 months

Apr-29-2012

USD

3,241.5

3,441.3

2,568.7

1,419.0

978.6

11,649.1

812.1

608.8

206.3

166.3

105.1

(447.4)

1,451.2

3,394.4

4,158.3

2,544.3

1,145.7

740.5

11,983.3

133.6

98.4

63.1

19.328.4

342.8

(104.0)


75/75

(113.4)

(99.9)

(38.5)

(62.9)

(418.7)

Jun-15-2012

12 months

Apr-29-2012

USD

3,958.3

1,611.2

6,079.6

11,649.1

2,419.5

1,207.9

3,540.9

7,168.4

Jun-15-2012

Documents

BRK's Heinz Deal