PURE FOODS SINCE 1869 - Heinz

FINANCIAL HIGHLIGHTS
H.J. Heinz Company and Subsidiaries
2007 2006
(DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS) (52 WEEKS) (53 WEEKS)
Sales $ 9,001,630 $ 8,643,438
Operating income (1) 1,446,715 1,113,612
Income from continuing operations (2) 791,602 442,761
Net income (3) 785,746 645,603
Per common share amounts:
Income from continuing operations - diluted $ 2.38 $ 1.29
Net income - diluted 2.36 1.89
Cash dividends 1.40 1.20
Cash from operations $ 1,062,288 $ 1,074,961
Capital expenditures 244,562 230,577
Proceeds from disposals of property, plant and equipment 60,661 19,373
Depreciation and amortization 266,197 247,433
Property, plant and equipment, net 1,998,153 1,900,557
Cash, cash equivalents and short-term investments $ 652,896 $ 445,427
Cash conversion cycle (days) 49 56
Total debt 4,881,884 4,411,982
Shareholders’ equity 1,841,683 2,048,823
Average common shares outstanding - diluted 332,468 342,121
Return on average invested capital (“ROIC”) 15.8% 13.1%
Debt/invested capital 72.6% 68.3%
Dividend/share 1.40 1.20
Share repurchases $ 760,686 $ 823,370
(1) Operating income in Fiscal Year 2006 was impacted by special charges of $236.4 million. There were no special charges in Fiscal 2007.
(2) Income from continuing operations in Fiscal Year 2006 was impacted by special charges of $274.9 million. There were no special charges in Fiscal 2007.
(3) Net income in Fiscal Years 2007 and 2006 includes (loss)/income from discontinued operations of ($5.9) million and $202.8 million, respectively.
See Management’s Discussion and Analysis for details.
About the cover: Heinz employees prepare a pasta meal with Classico ® Spicy Tomato Basil sauce and Heinz ® Vinegar.
(From left): Heinz North America Promotions Assistant Frank Lubsey, World Headquarters Senior Counsel Leslie Britton,
Finance Manager Kevin Gieder and Human Resources Specialist Joeleen Pedley.
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SCS-COC-00648