PURE FOODS SINCE 1869 - Heinz

Item 6. Selected Financial Data.
The following table presents selected consolidated financial data for the Company and its
subsidiaries for each of the five fiscal years 2003 through 2007. All amounts are in thousands except
per share data.
May 2,
2007
(52 Weeks)
May 3,
2006
(53 Weeks)
Fiscal Year Ended
April 27,
2005
(52 Weeks)
April 28,
2004
(52 Weeks)
April 30,
2003
(52 Weeks)
Sales(1) . . . . . . . . . . . . . . . $ 9,001,630 $8,643,438 $ 8,103,456 $7,625,831 $7,566,800
Interest expense(1) . . . . . . 333,270 316,296 232,088 211,382 222,729
Income from continuing
operations(1) . . . . . . . . . 791,602 442,761 688,004 715,451 478,303
Income from continuing
operations per share —
diluted(1) . . . . . . . . . . . . 2.38 1.29 1.95 2.02 1.35
Income from continuing
operations per share —
basic(1) . . . . . . . . . . . . . . 2.41 1.31 1.97 2.03 1.36
Short-term debt and
current portion of longterm
debt . . . . . . . . . . . . 468,243 54,969 573,269 436,450 154,786
Long-term debt, exclusive
of current portion(2). . . . 4,413,641 4,357,013 4,121,984 4,537,980 4,776,143
Total assets(3) . . . . . . . . . . 10,033,026 9,737,767 10,577,718 9,877,189 9,224,751
Cash dividends per
common share . . . . . . . . 1.40 1.20 1.14 1.08 1.485
(1) Amounts exclude the operating results related to the Company’s European seafood business and
Tegel» poultry businesses in New Zealand which were divested in Fiscal 2006 and have been
presented as discontinued operations.
(2) Long-term debt, exclusive of current portion, includes $71.0 million, ($1.4) million, $186.1 million,
$125.3 million, and $294.8 million of hedge accounting adjustments associated with interest rate
swaps at May 2, 2007, May 3, 2006, April 27, 2005, April 28, 2004, and April 30, 2003, respectively.
Long-term debt reflects the prospective classification of Heinz Finance Company’s $325 million of
mandatorily redeemable preferred shares from minority interest to long-term debt beginning in
the second quarter of Fiscal 2004 as a result of the adoption of Statement of Financial Accounting
Standards (“SFAS”) No. 150.
(3) Fiscal 2007 reflects the adoption of SFAS No. 158, “Employers’ Accounting for Defined Benefit
Pension and Other Postretirement Plans — an amendment of FASB Statements No. 87, 88, 106,
and 132(R).” See Note 2, “Recently Issued Accounting Standards” in Item 8 — “Financial Statements
and Supplementary Data.”
As a result of the Company’s strategic transformation, the Fiscal 2006 results from continuing
operations include $124.7 million pretax ($80.3 million after tax) for targeted workforce reductions
consistent with the Company’s goals to streamline its businesses and $22.0 million pretax ($16.3 million
after tax) for strategic review costs related to the potential divestiture of several businesses. Also,
$206.5 million pretax ($153.9 million after tax) was recorded for net losses on non-core businesses
and product lines which were sold and asset impairment charges on non-core businesses and product
lines which were sold in Fiscal 2007. Also during 2006, the Company reversed valuation allowances of
$27.3 million primarily related to The Hain Celestial Group, Inc. (“Hain”). In addition, results include
$24.4 million of tax expense relating to the impact of the American Jobs Creation Act. For more
details regarding these items, see pages 46 to 47 in Note 4, “Fiscal 2006 Transformation Costs” in
Item 8 — “Financial Statements and Supplementary Data.”
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