Solution-Financial and the accompanying notes and schedules

Financial and the accompanying notes and schedules

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Reference no: EM13850587

Based on the information in these financial and the accompanying notes and schedules, compute the following values for each company in 2011

THE HERSHEY COMPANY
CONSOLIDATED BALANCE SHEETS

December 31,		2010
In thousands of dollars ASSETS 2011		2010
Current Assets:
Cash and cash equivalents	$693,686	$884,642
Accounts receivable-trade	399,499	390,061
Inventories	648,953	533,622
Deferred income taxes	136,861	55,760
Prepaid expenses and other	167,559	141,132
Total current assets	2,046,558	2,005,217
Property, Plant and Equipment, Net	1,559,717	1,437,702
Goodwill	516,745	524,134
Other Intangibles	111,913	123,080
Deferred Income Taxes	38,544	21,387
Other Assets	138,722	161,212
Total assets	$4,412,199	$4,272,732

Liabilities and stockholderenquity

Current Liabilities:
Accounts payable	$420,017	5410,655
Accrued liabilities	612,186	593,308
Accrued income taxes	1,899	9,402
Short-term debt	42,080	24,088
Current portion of long-term debt	97,593	261,392
Total current liabilities	1,173,775	1,298,845
Long-term Debt	1,748,500	1,541,825
Other Long-term Liabilities	617,276	494,461
Total liabilities	3,539,551	3,335,131
Commitments and Contingencies
Stockholders' Equity:
The Hershey Company Stockholders' Equity
Preferred Stock, shares issued: none in 2011 and 2010
Common Stock, shares issued: 299,269,702 in 2011 and 299,195,325 in 2010	299,269	299,195
Class B Common Stock, shares issued: 60,632,042 in 2011 and 60,706,419 in 2010	60,632	60,706
Additional paid-in capital	490,817	434,865
Retained earnings	4,699,597	4,374,718
Treasury-Common Stock shares, at cost: 134,695,826 in 2011 and 132,871,512 in 2010	(4,258,962)	(4,052,101)
Accumulated other comprehensive loss	(442,3311	(215,067)
The Hershey Company stockholders' equity	849,022	902,316
Noncontrolling interests in subsidiaries	23,626	35,285
Total stockholders' equity	872,648	937,601
Total liabilities and stodcholders'equity	$4,412,199	$4,272,732

THE HERSHEY COMPANY
CONSOLIDATED STATEMENTS OF CASH FLOWS

For the years ended December 31, a	2011	2010	2009
In thousands of dollars	2011	2010	2009
Cash Flows Provided from (Used by) Operating Activities
Net .ncome	$628,962	5509,799	5435,994
Adjustments to reconcile net income to net cash provided from operations:
Depreciation and amortization	215,763	197,116	182,411
Stock-based compensation expense, net of tax of $15,127, 517,413 and $19,223, respectively	28,341	32,055	34,927
Excess tax benefits from stock-based compensation	(13,997)	(1,385)	(4,455)
Deferred income taxes	33,611	(18,654)	(40,578)
Gain on sale of trademark licensing rights, net of tax of $5,962	(11,072)
Business realignment and impairment charges, net of tax of $18,333, $20,635 and 538,308, respectively	30,838	77,935	60,823
Contributions to pension plans	(8,861)	(6,073)	(54,457)
Changes in assets and liabilities, net of effects from business acquisitions and divestitures:
Accounts receivable-trade	(9,438)	20,329	46,584
Inventories	(115,331)	(13,910)	74,000
Accounts payable	7,860	90,434	37,228
Other assets and liabilities	(205,809)	13,777	293,272
Net Cash Provided from Operating Activities	580,867	901,423	1,065,749
Cash Flows Provided from (Used by) Investing Activities
Capital additions	(323,961)	(179,538)	(126,324)
Capitalized software additions	(23,606)	(21,949)	(19,146)
Proceeds from sales of property, plant and equipment	312	2,201	10,364
Proceeds from sales of trademark licensing rights	20,000
Business acquisitions	(5,750)		(15,220)
Net Cash (Used by) Investing Activities	(333,005)	(199,286)	(150,326)

Cash Flows Provided from (Used by) Financing Activities
Net change in short-term borrowings	10,834	1,156	(458,047)
Long-term borrowings	249,126	48,208	-
Repayment of long-term debt	(256,189)	(71,548)	(8,252)
Proceeds from lease financing agreement	47,601		-
Cash dividends paid	(304,083)	283,434)	(263,403)
Exercise of stock options	184,411	92,033	28,318
Excess tax benefits from stock-based compensation	13,997	1,385	4,455
Contributions from noncontrolling interests in subsidiaries	-	10,199	7,322
Repurchase of Common Stock	(384,515)	169,099	(9,314)
Net Cash (Used by) Financing Activities	(438,818)	71,100	(698,921)
(Decrease) Increase in Cash and Cash Equivalents	(190,956)	631,037	216,502
Cash and Cash Equivalents as of January 1	884,642	253,605	37,103
Cash and Cash Equivalents as of December 31	$693,686	$884,642	$253,605
Interest Paid	597,892	597,932	591,623
Income Taxes Paid	292,315	350,948	252,230

TOOTSIE ROLL INDUSTRIES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF

Earnings, comprehensive Earnings and Retained earnings(in thousands expert per share data)
	the year ended December 31,
	2011	2010	2009
Net product sales	$528,369	5517,149	5495,592
Rental and royalty revenue	4.136	4,299	3,739
Total revenue	532,505	521,448	499,331
Product cost of goods sold	365,225	349,334	319,775
Rental and royalty cost	1,038	1,088	852
Total costs	366.263	350,422	320,627
Product gross margin	163,144	167,815	175,817
Rental and royalty gross margin	3,098	3,211	2,887
Total gross margin	166.242	171,026	178,704
Selling, marketing and administrative expenses	108,276	106,316	103,755
Impairment charges			14,000
Earnings from operations	57,966	64,710	60,949
Other income (expense), net	2,946	8,358	2,100
Earnings before income taxes	60.912	73,068	63,049
Provision for income taxes	16,974	20,005	9,892
Net earnings	$43,938	553,063	$53,157
Net earnings	$43,938	$53,063	$53,157
Other comprehensive earnings (loss)	(8,740)	1,183	2,845
Comprehensive earnings	$35,198	$54,246	556,002
Retained earnings at beginning of year.	$135,866	$147,687	$144,949
Net earnings	43,938	53,063	53,157
Cash dividends	(18,360)	(18,078)	(17,790)
Stock dividends	(47,175)	(46,806)	(32,629)
Retained earnings at end of year	$114,269	$135,866	$147,687

Reference no: EM13850587

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Financial and the accompanying notes and schedules

Reference no: EM13850587

Reference no: EM13850587

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