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Kellogg Company has its headquarters in Battle Creek, Michigan. The company manufactures and sells ready-to-eat breakfast cereals and convenience foods including cookies, toaster pastries, and cereal bars.

Selected data from Kellogg Company's 2011 annual report follows (dollar amounts in millions).


2011 2010 2009
Sales $13,198.00
$12,397.00
$12,575.00

Gross profit % 41.28
42.66
42.87

Operating profit 1,976.00
1,990.00
2,001.00

Net cash flow less capital expenditures 1,001.00
534.00
1,266.00

Net earnings 1,231.00
1,247.00
1,212.00


In its annual reports, Kellogg Company has indicated that it plans to achieve sustainability of its operating results with operating principles that emphasize profit-rich, sustainable sales growth, as well as cash flow and return on invested capital. Kellogg believes its steady earnings growth, strong cash flow, and continued investment during a multi-year period demonstrates the strength and flexibility of its business model.

(a)Compute the percentage change in sales, operating profit, net cash flow less capital expenditures, and net earnings from year to year for the years presented

 

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M946224

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