Summary - Funding Rounds

Founding Date

2008
Dr Pepper Snapple is a subsidiary of Keurig Green Mountain

Dr Pepper Snapple Financials

Dr Pepper Snapple Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Revenue

6 b6.1 b6.3 b6.4 b6.7 b

Revenue growth, %

2%3%3%

Cost of goods sold

2.5 b2.5 b2.6 b2.6 b2.7 b

Gross profit

3.5 b3.6 b3.7 b3.9 b4 b

Gross profit Margin, %

58%59%59%60%60%

General and administrative expense

2.6 b

Operating expense total

2.6 b

Depreciation and amortization

102 m

EBIT

1 b1.2 b1.3 b1.4 b1.4 b

EBIT margin, %

17%19%21%22%21%

Interest expense

123 m109 m117 m147 m164 m

Interest income

2 m2 m2 m3 m3 m

Pre tax profit

542 m1.1 b1.2 b1.3 b

Income tax expense

(81 m)371 m420 m434 m95 m

Net Income

624 m703 m764 m847 m1.1 b

Quarterly

USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Revenue

1.7 b1.6 b1.5 b1.7 b1.7 b1.5 b1.8 b1.7 b1.6 b

Cost of goods sold

674 m673 m602 m670 m683 m607 m718 m707 m681 m

Gross profit

981 m957 m885 m1 b997 m903 m1.1 b1 b913 m

Gross profit Margin, %

59%59%60%60%59%60%60%59%57%

General and administrative expense

586 m592 m546 m590 m603 m621 m683 m640 m626 m

Operating expense total

586 m592 m546 m590 m603 m621 m683 m640 m626 m

Depreciation and amortization

27 m

EBIT

369 m337 m313 m412 m373 m285 m373 m367 m259 m

EBIT margin, %

22%21%21%24%22%19%21%21%16%

Interest expense

28 m28 m33 m33 m33 m40 m44 m40 m41 m

Interest income

1 m1 m1 m1 m1 m1 m1 m

Income tax expense

121 m106 m99 m142 m102 m71 m94 m114 m54 m

Net Income

365 m553 m157 m220 m202 m182 m260 m240 m177 m188 m203 m159 m

Dr Pepper Snapple Balance Sheet

Annual

usdY, 2009Y, 2010Y, 2011Y, 2012FY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Cash

280 m315 m701 m366 m153 m237 m911 m1.8 b61 m

Inventories

200 m204 m209 m202 m229 m

Current Assets

1.1 b1.2 b1.8 b2.7 b1.1 b

PP&E

1.2 b1.1 b1.2 b1.1 b1.2 b

Goodwill

3 b3 b3 b3 b3.6 b

Total Assets

8.2 b8.3 b8.9 b9.8 b10 b

Accounts Payable

271 m289 m277 m303 m365 m

Short-term debt

66 m3 m507 m10 m

Current Liabilities

1 b1 b1.6 b1.1 b1.2 b

Long-term debt

2.5 b2.6 b2.9 b4.5 b

Total Debt

2.6 b2.6 b3.4 b4.5 b

Total Liabilities

7.7 b7.6 b

Additional Paid-in Capital

970 m658 m211 m95 m

Retained Earnings

1.4 b1.8 b2.2 b2.3 b2.7 b

Total Equity

2.3 b2.3 b2.2 b2.1 b2.5 b

Debt to Equity Ratio

1.1 x1.1 x1.5 x2.1 x

Debt to Assets Ratio

0.3 x0.3 x0.4 x0.5 x

Financial Leverage

3.6 x3.6 x4.1 x4.6 x4.1 x

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Cash

119 m120 m135 m266 m93 m127 m207 m275 m245 m620 m73 m286 m66 m13 m

Inventories

196 m226 m213 m191 m228 m217 m201 m235 m236 m226 m246 m267 m261 m243 m

Current Assets

1.1 b1.2 b1.2 b1.2 b1.2 b1.3 b1.2 b1.3 b1.3 b1.6 b1.2 b1.6 b1.3 b1.2 b

PP&E

1.2 b1.1 b1.1 b1.1 b1.1 b1.1 b1.1 b1.1 b1.1 b1.1 b1.1 b1.1 b1.1 b1.2 b

Goodwill

3 b3 b3 b3 b3 b3 b3 b3 b3 b3 b3.6 b3.6 b3.6 b3.6 b

Total Assets

8.1 b8.2 b8.2 b8.3 b8.3 b8.3 b8.2 b8.4 b8.4 b8.7 b10 b10.3 b10 b10.2 b

Accounts Payable

271 m295 m313 m319 m350 m305 m310 m357 m359 m311 m353 m367 m387 m377 m

Current Liabilities

956 m1.1 b1.1 b1 b1.6 b1.6 b1.6 b1.2 b1.2 b1.5 b1.1 b1.6 b1.4 b1.6 b

Long-term debt

2.1 b2.1 b

Total Debt

2.1 b2.1 b

Total Liabilities

5.8 b6 b6 b5.9 b6 b6 b6 b6.3 b6.3 b6.5 b7.8 b8.2 b7.9 b7.7 b

Additional Paid-in Capital

1.1 b939 m808 m758 m546 m447 m313 m93 m94 m94 m61 m

Retained Earnings

1.3 b1.5 b1.6 b1.7 b1.8 b2 b2.1 b2.2 b2.2 b2.2 b2.3 b2.3 b2.3 b2.7 b

Total Equity

2.3 b2.2 b2.3 b2.4 b2.2 b2.3 b2.2 b2.1 b2.1 b2.1 b2.2 b2.2 b2.1 b2.5 b

Financial Leverage

3.5 x3.7 x3.6 x3.5 x3.7 x3.7 x3.7 x4 x3.9 x4.1 x4.6 x4.8 x4.7 x4.1 x

Dr Pepper Snapple Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017

Net Income

624 m703 m764 m847 m1.1 b

Depreciation and Amortization

191 m198 m

Accounts Receivable

(13 m)(26 m)(31 m)(47 m)

Inventories

(3 m)(8 m)(11 m)3 m

Accounts Payable

(6 m)29 m(9 m)32 m24 m

Cash From Operating Activities

866 m1 b991 m939 m1 b

Purchases of PP&E

(179 m)(170 m)(179 m)(180 m)

Cash From Investing Activities

(195 m)(185 m)(194 m)(189 m)(1.8 b)

Dividends Paid

(302 m)(317 m)(355 m)(386 m)(414 m)

Cash From Financing Activities

(880 m)(747 m)(114 m)130 m(907 m)

Quarterly

USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018

Net Income

468 m155 m365 m553 m157 m377 m579 m182 m442 m682 m177 m365 m568 m159 m

Depreciation and Amortization

146 m50 m99 m148 m48 m96 m143 m48 m95 m142 m49 m98 m147 m50 m

Accounts Receivable

21 m6 m(25 m)15 m(19 m)(78 m)(25 m)(5 m)(74 m)(14 m)18 m(72 m)(34 m)(30 m)

Inventories

1 m(26 m)(13 m)8 m(26 m)(16 m)(2 m)(25 m)(29 m)(19 m)(16 m)(35 m)(29 m)(13 m)

Accounts Payable

(1 m)32 m48 m49 m67 m18 m25 m81 m81 m35 m19 m24 m41 m17 m

Cash From Operating Activities

616 m129 m438 m769 m101 m349 m723 m177 m407 m683 m97 m410 m732 m103 m

Cash From Investing Activities

(128 m)(38 m)(68 m)(100 m)(40 m)(47 m)(95 m)(40 m)(79 m)(119 m)(1.6 b)(1.6 b)(1.6 b)(68 m)

Dividends Paid

(225 m)(75 m)(157 m)(237 m)(79 m)(172 m)(264 m)(90 m)(190 m)(288 m)(97 m)(204 m)(309 m)(104 m)

Cash From Financing Activities

(732 m)(123 m)(388 m)(553 m)(202 m)(409 m)(648 m)(775 m)(995 m)(854 m)(142 m)(220 m)(717 m)(73 m)
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