XML 46 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Income (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Dec. 28, 2013
Dec. 29, 2012
Dec. 28, 2013
Dec. 29, 2012
Continuing Operations        
Net sales $ 1,082 $ 1,060 $ 2,066 $ 2,034
Cost of sales 757 728 1,476 1,408
Selling, general and administrative expenses 202 224 409 437
Net charges for exit activities, asset and business dispositions 7 9 10 6
Operating income 116 99 171 183
Interest expense 12 11 25 22
Interest income (3) (1) (5) (3)
Income from continuing operations before income taxes 107 89 151 164
Income tax expense (benefit) (7) 31 8 57
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest 114 58 143 107
Discontinued operations        
Income from discontinued operations, net of tax expense (benefit) of $1, $(3), $1 and $(2) 1 7 1 9
Gain on sale of discontinued operations, net of tax expense of nil, nil, nil and $1 0 0 0 2
Net income from discontinued operations 1 7 1 11
Net income 115 65 144 118
Amounts attributable to Hillshire Brands:        
Income (Loss) from Continuing Operations Attributable to Parent 114 58 143 107
Net income from discontinued operations 1 7 1 11
Net income $ 115 $ 65 $ 144 $ 118
Earnings per share of common stock Basic        
Income from continuing operations $ 0.92 $ 0.47 $ 1.16 $ 0.88
Net income $ 0.93 $ 0.53 $ 1.17 $ 0.97
Average shares outstanding 123 123 123 122
Diluted        
Income from continuing operations $ 0.91 $ 0.47 $ 1.15 $ 0.87
Net income $ 0.92 $ 0.53 $ 1.16 $ 0.96
Average shares outstanding 124 123 124 123
Cash dividends declared per share of common stock $ 0.175 $ 0.125 $ 0.350 $ 0.250