Financial Highlights*
(1) Amounts are continuing operations, FY06 EPS excludes special items
(2) Operating Free Cash Flow is cash from operations less capital expenditures net of proceeds from disposal of PP&E
(3) After discretionary pension funding of $475 million in FY10
(4) CAGR = Compound Annual Growth Rate
(5) Volume plus price
| H.J. Heinz Company and Subsidiaries | ||
|---|---|---|
| 2010 | 2009 | |
| (Dollars in thousands, except per share amounts) | (52 Weeks) | (52 Weeks) |
| Sales(1) | $10,494,983 | $10,011,331 |
| Operating income(1) | 1,559,228 | 1,502,446 |
| Income from continuing operations, net of tax(1)(2) | 914,489 | 929,511 |
| Per common share amounts: | ||
| Income from continuing operations(1)(2) — diluted | $ 2.87 | $ 2.91 |
| Cash dividends | $ 1.68 | $ 1.66 |
| Cash from operations | $ 1,262,197 | $ 1,166,882 |
| Capital expenditures | 277,642 | 292,121 |
| Proceeds from disposals of property, plant and equipment | 96,493 | 5,407 |
| Depreciation and amortization(1) | 299,050 | 274,107 |
| Property, plant and equipment, net | 2,091,796 | 1,978,302 |
| Cash and cash equivalents | $ 483,253 | $ 373,145 |
| Cash conversion cycle (days) | 47 | 55 |
| Total debt | 4,618,172 | 5,141,824 |
| H.J. Heinz Company Shareholders’ equity | 1,891,345 | 1,219,938 |
| Average common shares outstanding — diluted (in thousands) | 318,113 | 318,063 |
| Return on average invested capital (“ROIC”) | 18.7%(3) | 18.4% |
| Debt/invested capital | 70.9% | 80.8% |
See Management’s Discussion and Analysis for details.
(1) Continuing operations
(2) Amounts are attributable to H.J. Heinz Company Shareholders
(3) Excludes 90 basis point impact of losses from discontinued operations
*Please refer to the non-GAAP Performance Ratios at the end of this Annual Report for reconciliations of non-GAAP amounts.