Question
Consolidated Balance Sheet PepsiCo, Inc. and Subsidiaries December 27, 2014 and December 28, 2013 (in millions except per share amounts) THE COCA-COLA COMPANY AND SUBSIDIARIES
Consolidated Balance Sheet
PepsiCo, Inc. and Subsidiaries
December 27, 2014 and December 28, 2013
(in millions except per share amounts)
THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS | ||
December 31, | 2014 | 2013 |
(In millions except par value) | ||
ASSETS | ||
CURRENT ASSETS | ||
Cash and cash equivalents | $8,958 | $10,414 |
Short-term investments | 9,052 | 6,707 |
TOTAL CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS | 18,010 | 17,121 |
Marketable securities | 3,665 | 3,147 |
Trade accounts receivable, less allowances of $331 and $61, respectively | 4,466 | 4,873 |
Inventories | 3,100 | 3,277 |
Prepaid expenses and other assets | 3,066 | 2,886 |
Assets held for sale | 679 | |
TOTAL CURRENT ASSETS | 32,986 | 31,304 |
EQUITY METHOD INVESTMENTS | 9,947 | 10,393 |
OTHER INVESTMENTS | 3,678 | 1,119 |
OTHER ASSETS | 4,407 | 4,661 |
PROPERTY, PLANT AND EQUIPMENT net | 14,633 | 14,967 |
TRADEMARKS WITH INDEFINITE LIVES | 6,533 | 6,744 |
BOTTLERS' FRANCHISE RIGHTS WITH INDEFINITE LIVES | 6,689 | 7,415 |
GOODWILL | 12,100 | 12,312 |
OTHER INTANGIBLE ASSETS | 1,050 | 1,140 |
TOTAL ASSETS | $92,023 | $90,055 |
LIABILITIES AND EQUITY | ||
CURRENT LIABILITIES | ||
Accounts payable and accrued expenses | $9,234 | $9,577 |
Loans and notes payable | 19,130 | 16,901 |
Current maturities of long-term debt | 3,552 | 1,024 |
Accrued income taxes | 400 | 309 |
Liabilities held for sale | 58 | |
TOTAL CURRENT LIABILITIES | 32,374 | 27,811 |
LONG-TERM DEBT | 19,063 | 19,154 |
OTHER LIABILITIES | 4,389 | 3,498 |
DEFERRED INCOME TAXES | 5,636 | 6,152 |
THE COCA-COLA COMPANY SHAREOWNERS' EQUITY | ||
Common stock, $0.25 par value; Authorized 11,200 shares; | ||
Issued 7,040 and 7,040 shares, respectively | 1,760 | 1,760 |
Capital surplus | 13,154 | 12,276 |
Reinvested earnings | 63,408 | 61,660 |
Accumulated other comprehensive income (loss) | (5,777) | (3,432) |
Treasury stock, at cost 2,674 and 2,638 shares, respectively | (42,225) | (39,091) |
EQUITY ATTRIBUTABLE TO SHAREOWNERS OF THE COCA-COLA COMPANY | 30,320 | 33,173 |
EQUITY ATTRIBUTABLE TO NONCONTROLLING INTERESTS | 241 | 267 |
TOTAL EQUITY | 30,561 | 33,440 |
TOTAL LIABILITIES AND EQUITY | $92,023 | $90,055
|
The Coca-Cola Company and PepsiCo, Inc.
The financial statements of Coca-Cola and PepsiCo are presented in Appendices C and D, respectively. The companies' complete annual reports, including the notes to the financial statements, are available online.
Instructions
(d)For year-end 2014, what amounts were reported by Coca-Cola and PepsiCo as (1) gross deferred tax assets and (2) gross deferred tax liabilities?
(e)Do either Coca-Cola or PepsiCo disclose any net operating loss carrybacks and/or carryforwards at year-end 2014? What are the amounts, and when do the carryforwards expire?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started