Proctor and Gamble 2012 Annual Report Download - page 75
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Amounts in millions of dollars except per share amounts or as otherwise specified.
included in Corporate. In determining after-tax earnings for
the businesses, we eliminate the share of earnings applicable
to other ownership interests, in a manner similar to
noncontrolling interest and apply statutory tax rates.
Adjustments to arrive at our effective tax rate are also
included in Corporate.
Corporate includes certain operating and non-operating
activities that are not reflected in the operating results used
internally to measure and evaluate the businesses, as well as
eliminations to adjust management reporting principles to
U.S. GAAP. Operating activities in Corporate include the
results of incidental businesses managed at the corporate
level along with the elimination of individual revenues and
expenses generated by certain unconsolidated investees,
discussed in the preceding paragraph, over which we exert
significant influence, but do not control. Operating elements
also include certain employee benefit costs, the costs of
certain restructuring-type activities to maintain a competitive
cost structure, including manufacturing and workforce
rationalization, and other general Corporate items. The non-
operating elements in Corporate primarily include interest
expense, divestiture gains and interest and investing income.
In addition, Corporate includes the historical results of
certain divested businesses.
Total assets for the reportable segments include those assets
managed by the reportable segment, primarily inventory,
fixed assets and intangible assets. Other assets, primarily
including cash, accounts receivable, investment securities
and goodwill, are included in Corporate.
In 2012, 2011 and 2010, nine product categories individually
accounted for 5% or more of consolidated net sales as
follows:
% of Sales by Product
Category
2012 2011 2010
Fabric Care 20% 20% 20%
Baby Care 13% 12% 12%
Hair Care 11% 11% 11%
Male Grooming 9% 9% 9%
Beauty Care 7% 7% 7%
Home Care 7% 7% 7%
Family Care 6% 7% 7%
Oral Care 6% 6% 6%
Feminine Care 6% 6% 6%
All Other 15% 15% 15%
Total 100% 100% 100%
The Company had net sales in the U.S. of $29.5 billion,
$29.9 billion and $29.5 billion for the years ended June 30,
2012, 2011 and 2010, respectively. Assets in the U.S.
totaled $68.0 billion and $70.3 billion as of June 30, 2012
and 2011, respectively. No other country's net sales or assets
exceed 10% of the Company.
Our largest customer, Wal-Mart Stores, Inc. and its affiliates,
accounted for 14%, 15% and 16% of consolidated net sales
in 2012, 2011 and 2010, respectively.