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  • Pillsbury Analysis

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    General Mills reported net sales of $11.64 billion in 2006, up 3.52% from 2005. Total costs and expenses were $10.07 billion, an increase of 6.83% driven by higher costs of sales and selling expenses. This resulted in earnings before taxes of $1.57 billion, down 13.66% from the previous year. After accounting for taxes and earnings from joint ventures, net earnings were $1.09 billion in 2006.

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    Pillsbury income statement analysis

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    General Mills reported net sales of $11.64 billion in 2006, up 3.52% from 2005. Total costs and expenses were $10.07 billion, an increase of 6.83% driven by higher costs of sales and selling expenses. This resulted in earnings before taxes of $1.57 billion, down 13.66% from the previous year. After accounting for taxes and earnings from joint ventures, net earnings were $1.09 billion in 2006.

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    30 views1 page

    Pillsbury Analysis

    Uploaded by

    ivana
    General Mills reported net sales of $11.64 billion in 2006, up 3.52% from 2005. Total costs and expenses were $10.07 billion, an increase of 6.83% driven by higher costs of sales and selling expenses. This resulted in earnings before taxes of $1.57 billion, down 13.66% from the previous year. After accounting for taxes and earnings from joint ventures, net earnings were $1.09 billion in 2006.

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    of 1

    General Mills Consolidated Statement of Earnings

    in Millions

    2006

    Net Sales
    Costs and Expenses

    Change

    11,640.00

    Cost of Sales
    Selling, General and Administrative

    $
    $

    Interest, net
    Restructuring and other exit costs
    Divestitures (gain)

    $
    $
    $

    Debt repurchase costs


    Total Costs and Expenses

    2005

    Change

    3.52% $

    11,244.00

    6,966.00
    2,678.00

    1.93% $
    10.75% $

    6,834.00
    2,418.00

    399.00
    30.00
    -

    -12.31% $
    $
    $

    $
    $

    10,073.00

    $
    6.83% $

    Earnings Before Income Taxes


    Income Taxes

    $
    $

    1,567.00
    541.00

    After Tax Earnings from Joint Ventures

    64.00

    1,090.00

    Net Earnings

    2004
    1.57% $

    11,070.00

    3.80% $
    -1.02% $

    6,584.00
    2,443.00

    -10.43% $
    $
    $

    508.00
    26.00
    -

    137.00
    9,429.00

    $
    -1.38% $

    9,561.00

    -13.66% $
    $

    1,815.00
    664.00

    20.28% $
    $

    1,509.00
    528.00

    89.00

    74.00

    -12.10% $

    1,240.00

    17.54% $

    1,055.00

    455.00
    84.00
    (499.00)

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