DOCSLIB.ORG

2020 Annual Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
2020 Annual Report Faster, Stronger, Better. PepsiCo Annual Report 2020 Annual Report 2020 Creating More ® ® Smiles with BRAND ® Every Sip and BRAND Every Bite SM A LEMON LIME SOD 2020 Financial Highlights Net Revenue Operating Profit by Division 5 Frito-Lay North America 26% 5 Frito-Lay North America 46% 6 5 26 Quaker Foods North America 4% Quaker Foods North America 6% 12 17 PepsiCo Beverages PepsiCo Beverages North America 32% North America 17% 46 4 Latin America 10% 9 Latin America 9% 10 Europe 17% Europe 12% Africa, Middle East and 17 Africa, Middle East and 32 South Asia 6% 6 South Asia 5% Asia Pacific, Australia and Asia Pacific, Australia and New Zealand and China Region 5% New Zealand and China Region 5% Mix of Net Revenue 45 42 55 58 Food 55% U.S. 58% Beverage 45% Outside U.S. 42% PepsiCo, Inc. & Consolidated Subsidiaries (in millions, except per share data; all per share amounts assume dilution) Summary of Operations 2020 2019 % Chg(a) Net revenue $70,372 $67,161 5% (a) Percentage changes are based on unrounded amounts. Core operating profit(b) $10,531 $10,602 (1)% (b) Excludes the mark-to-market net impact of our commodity derivatives, restructuring and impairment charges, as well as inventory fair value Reported earnings per share $5.12 $5.20 (2)% adjustments and merger and integration charges. See page 128 “Reconciliation of GAAP and Non-GAAP Information” for a reconciliation to the most directly comparable financial measure in accordance with GAAP. 2020 Core earnings per share(c) $5.52 $5.53 – reported operating profit decreased 2%. (c) Excludes the mark-to-market net impact of our commodity derivatives, Free cash flow(d) $6,428 $5,587 15% restructuring and impairment charges, inventory fair value adjustments and merger and integration charges, as well as pension-related settlement charges. In 2019, also excludes net tax related to the Tax Cuts and Jobs Capital spending $4,240 $4,232 – Act (TCJ Act). See page 128 “Reconciliation of GAAP and Non-GAAP Information” for a reconciliation to the most directly comparable financial measure in accordance with GAAP. Common share repurchases $2,000 $3,000 (33)% (d) Includes the impact of net capital spending. See page 128 “Reconciliation of GAAP and Non-GAAP Information” for a reconciliation to the most Dividends paid $5,509 $5,304 4% directly comparable financial measure in accordance with GAAP. 2020 net cash provided by operating activities increased 10%. Sustainability & Community Highlights We continue to make progress in our sustainability journey, using positive outcomes for all our stakeholders. At the same time, we our scale, reach, and expertise to help build a more sustainable remain committed to addressing systemic barriers to opportunity food system that can meet 21st century needs. We are committed through our Racial Equality Journey, and we continue to support to setting and working toward goals around climate, agriculture, communities in need through The PepsiCo Foundation. For more water, packaging, people, and products, while partnering with information on our Sustainability progress, Racial Equality Journey, peers, governments, and nongovernmental organizations to deliver and The PepsiCo Foundation, please visit www.pepsico.com. CLIMATE AGRICULTURE WATER In 2020, we achieved 100% OF OUR DIRECT As of 2020, our operational 100% RENEWABLE COMMODITIES1 ARE WATER-USE EFFICIENCY ELECTRICITY FOR OUR SUSTAINABLY SOURCED IMPROVED BY 15% U.S. DIRECT OPERATIONS IN 28 COUNTRIES, in high water-risk areas since 2015, progress toward our goal of 25% by 2025. and announced plans to transition to 100% and globally, nearly 86% of our direct renewable electricity globally. commodities are sustainably sourced as The Pioneer Foods acquisition is included in the Approximately 57% of our global electricity of 2020. presented metric and contributed 3 percentage points needs were met by renewable sources in 2020. We achieved our goal to source 100% to the improved progress against the 2015 baseline year. The SodaStream acquisition is not included in Bonsucro certified sustainable cane sugar the presented metric because data was not readily globally by 2020 and achieved 99% RSPO2 available; this exclusion is estimated to be not physically certified palm oil as of 2020. statistically consequential. PACKAGING PEOPLE PRODUCTS We are transitioning several brands to WOMEN HOLD 41% We’ve continued to expand our portfolio of improved choices for consumers. No-sugar BOTTLES MADE OF 100% OF OUR GLOBAL Pepsi Black (also known as Pepsi Zero 3 4 Sugar or Pepsi MAX), which had double- rPET ACROSS 22 MANAGER POSITIONS digit volume growth in 2020, is available in GLOBAL MARKETS, and continue to be paid within 1% of men in 71 countries (representing 99% of 118 GLOBAL MARKETS. in key packaging sizes, to help drive a our salaried employee population), after circular economy and ensure packaging Quaker showed strong growth across all key controlling for legitimate drivers of pay never becomes waste. markets in 2020 and gained market share such as job level, geographic location, in the cereals category in the U.S. We are also investing in strategies beyond and performance ratings.5 the bottle through reusable platforms like SodaStream, a business that delivered double-digit net revenue growth in 2020. RACIAL EQUALITY DIVERSITY COVID-19 RELIEF In 2020, together with The PepsiCo In 2020, we set new targets to Together with The PepsiCo Foundation, Foundation, we committed to investing we invested more than $60 million INCREASE OUR BLACK & globally and provided over MORE THAN $570 HISPANIC MANAGERIAL MILLION OVER 5 YEARS 145 MILLION MEALS POPULATIONS to communities and families impacted to lift up Black and Hispanic businesses in the U.S. to 10% of our workforce by COVID-19 in 2020. and communities, address issues of over the next five years. inequality, and create opportunity. 1Potatoes, whole corn, oats, and oranges 2Roundtable on Sustainable Palm Oil 3Recycled PET 4Based on full-time and part-time employees 5Based on base compensation Organizational changes (e.g., acquisitions, mergers, divestitures) are evaluated to determine if they have a statistically significant impact to sustainability metric performance. Dear Fellow Shareholders, When I wrote to you the challenge, creating smiles for our fellow associates, our communities, our consumers, our customers, the planet, and, of course, our shareholders. last Spring, few could In doing so, we welcomed the opportunity to drive positive change among have imagined what ourselves and in the wider world. Our commitment to transparency in our 2020 had in store reporting underpins this aspiration to be not just a successful company, for our company and but a sustainable one. our world. From a global pandemic that Smiles for Our Associates cost millions of lives and Communities and unleashed an economic catastrophe, We know that our company can only succeed when the society we serve flourishes. That’s why we are focused on creating to tragic examples smiles for our associates and communities by: of systemic racial Working to ensure safe working environments through social inequality, to an distancing and distribution of personal protective equipment (PPE), escalating climate especially for our frontline workers, and donating PPE to fellow crisis, and even the passing of PepsiCo’s patriarch and frontline workers around the world; first CEO, Donald M. Kendall, the past 12 months have Expanding benefits for associates who were diagnosed with COVID-19 or had to care for a sick family member; been among the most challenging in recent memory. Working with The PepsiCo Foundation to invest more than $60 million and provide over 145 million meals to hungry families And yet, despite all the heartache and pain, all the volatility and impacted by COVID-19 in 2020, with a special focus on providing disruption, I am extremely proud to tell you that PepsiCo continues nutritious meals for students who usually get meals through school; to persevere. Our strategy to become Faster, Stronger, and Better has proven to be the right one, in good times and bad—enabling us to be there Launching our Racial Equality Journey to elevate diverse voices for our communities when they need us most, whilst accelerating our within our company, our supply chain partners, and communities, growth and gaining share in many key markets. whilst helping break down longstanding racial barriers. In 2020, we began with a $400 million set of initiatives focused on increasing 1 In 2020 : Black representation at PepsiCo, supporting Black-owned businesses, Our organic revenue growth accelerated to 5.7 percent in Q4, with and lifting up Black communities over five years. We built on this 5 percent growth in global snacks and foods and 6 percent growth in with a further $172 million set of initiatives over five years focused global beverages, and mid-single digit growth in both our international on Hispanic Americans, in addition to spending $224 million with developed markets and developing and emerging markets. Hispanic suppliers in 2020; and We delivered 4.3 percent organic revenue growth for the full year, Celebrating success through our internal Smiles initiative, which which is a true testament to the dedication and efforts of our encourages associates to send smiles to each other for living our employees during a global pandemic, our diversified portfolio and PepsiCo Way behaviors and to commemorate special events. In 2020, channel mix, and our agile supply chain and go-to-market systems. we created more than 240,000 smiles on the platform. We gained or held share in most of our top markets in both snacks These efforts were recognized by our associates in our annual and beverages. organizational health survey. In 2020, we achieved our highest-ever engagement score, which is a measure of the energy, pride, and Core constant currency EPS increased 2 percent for the full year.
Load more

Recommended publications
  • Case 23 Pepsico's
    BFV GROUP : Beatrice Teresa Colantoni, Francesco Morgia, Valentina Palmerio. PepsiCo’s Business Case – CASE 23 PEPSICO’S HISTORY. PepsiCo, Inc., was established in 1965 when PepsiCola and Frito-Lay shareholders agreed to a merger between the salty-snack icon and soft-drink giant. The new company was founded with annual revenues of $510 million and such well-known brands as Pepsi-Cola, Mountain Dew, Fritos, Lay’s, Cheetos, Ruffles, and Rold Gold. By 1971, PepsiCo had more than doubled its revenues to reach $1 billion. The company began to pursue growth through acquisitions outside snacks and beverages as early as 1968, but its 1977 acquisition of Pizza Hut significantly shaped the strategic direction of PepsiCo for the next 20 years. The acquisitions of Taco Bell in 1978 and Kentucky Fried Chicken in 1986 created a business portfolio described by Wayne Calloway (PepsiCo’s CEO between 1986 and 1996) as a balanced three-legged stool. Calloway believed the combination of snack foods, soft drinks, and fast food offered considerable cost sharing and skill transfer opportunities. PepsiCo strengthened its portfolio of snack foods and beverages during the 1980s and 1990s, adding also quick-service restaurant. By 1996 it had become clear to PepsiCo management that the potential strategic-fit benefits existing between restaurants and PepsiCo’s core beverage and snack businesses were difficult to capture. In 1997, CEO Roger Enrico spun off the company’s restaurants as an independent, publicly traded company to focus PepsiCo on food and beverages. Soon after the spinoff of PepsiCo’s fast-food restaurants was completed, Enrico acquired Cracker Jack, Tropicana, Smith’s Snackfood Company in Australia, SoBe teas and alternative beverages, Tasali Snack Foods (the leader in the Saudi Arabian salty-snack market), and the Quaker Oats Company.
    [Show full text]
  • Research Supports Health Benefits of Substituting Unsaturated Fat for Saturated and Trans Fat
    Research Supports Health Benefits of Substituting Unsaturated Fat for Saturated and Trans Fat “Considerable recent research, including controlled feeding and epidemiological studies, has provided pretty good NuSun™ oil is the “new” mid-oleic evidence that replacing saturated and trans fats with mono- sunflower oil used in Frito-Lay’s and poly-unsaturated fats can significantly reduce important SUNCHIPS® Multigrain Snacks. health risks. According to some studies, this substitution can potentially reduce the risk of heart disease by up to 30-40 percent.” • NuSun™ is lower in saturated fat (less than 10%) than Mark B McClellan, MD, PhD linoleic sunflower oil and has higher oleic levels (55- Commissioner, Food and Drug Administration 75%) • NuSun™ oil does not need hydrogenation and allows for the production of stable products without any trans fat • This oil incorporates a healthy balance of unsaturated fats (mono- and polyunsaturated) ® A recent study found that incorporating NuSun™sunflower oil into a healthy diet significantly reduced total and LDL cholesterol compared to olive oil and the typical American TM diet. Source: Balance of Unsaturated Fatty Acids Is Important to a Cholesterol- Lowering Diet: Comparison of Mid-Oleic Sunflower Oil and Olive Oil on Cardiovascular Disease Risk Factors. Journal of the American Dietetic Association 2005;105:1080-1086 Did you know that Frito-Lay brand snacks including DORITOS®, TOSTITOS®, CHEETOS®, and FRITOS® are made with 100% corn oil? What’s so great about corn oil you ask? Corn oil contains more than 85% unsaturated fats. Health experts recommend vegetables oils as part of a healthy diet because of the health benefits of replacing saturated and trans fats with oils higher in unsaturated fats - such as corn oil.
    [Show full text]
  • Financial Reporting: Who Does What? FUTURE of AUDIT FINANCIAL REPORTING: WHO DOES WHAT?
    ICAEW THOUGHT LEADERSHIP FUTURE OF AUDIT Financial reporting: who does what? FUTURE OF AUDIT FINANCIAL REPORTING: WHO DOES WHAT? This publication explains in simple terms who does what in the financial reporting system for UK companies with full main market listings. It is intended to serve as background reading for our 2019/20 ‘The future of audit’ thought leadership essays. They, inter alia, are designed to inform the various inquiries relevant to audit and regulation in progress at the time of writing, including by Sir Donald Brydon, Sir John Kingman, the CMA and BEIS. We hope this background paper will help directors, politicians, investors and policymakers understand the complex relationships between boards, auditors, shareholders and others, and the regulatory regime within which those relationships operate. © ICAEW 2019 All rights reserved. If you want to reproduce or redistribute any of the material in this publication, you should first get ICAEW’s permission in writing. ICAEW will not be liable for any reliance you place on the information in this publication. You should seek independent advice. 2 FUTURE OF AUDIT FINANCIAL REPORTING: WHO DOES WHAT? Financial statements: at the heart of the financial reporting system Financial reporting needs to improve, and everyone involved – preparers, auditors, audit committees, shareholders – needs to do more. This is no mere exhortation: all of these players are required by law, regulation and various codes to play an active part in ensuring that the financial statements, which sit at the heart of the system, pass the test required of them by law, which is that they give a ‘true and fair’ view.
    [Show full text]
  • Frito-Lay Peanut/Tree Nut Free Processing Facilities – Information Sheet
    Frito-Lay Peanut/Tree Nut Free Processing Facilities – Information Sheet As of February 27, 2014 the following Food Service/Vend products DO NOT CONTAIN PEANUT AND/OR TREE NUT INGREDIENTS AND ARE NOT PRODUCED IN PEANUT/TREE NUT MANUFACTURING FACILITIES*: Baked! Cheetos® Cheese Snacks Fritos® Corn Chips Baked! Doritos® Tortilla Chips Funyuns® Onion Snacks Baked! Lay’s® Potato Chips Lay’s® Potato Chips Baked! Ruffles® Ridged Potato Chips Lay’s® Kettle Cooked Potato Chips Baked! Tostitos® Scoops® Tortilla Chips Miss Vickies® Kettle Cooked Potato Chips Baken-ets® Pork Skins Ruffles® Ridged Potato Chips Cheetos® and RF Cheetos® Cheese Snacks Santitas® Tortilla Chips Cheetos® Fantastix® Snacks SunChips® Multigrain Chips Chester’s® Hot Fries Smartfood® Delight White Cheddar Popcorn Doritos® and RF Doritos® Tortilla Chips Tostitos® Tortilla Chips and RF Tostitos® Tortilla Chips As of February 27, 2014, the following Food Service/Vend products DO NOT CONTAIN PEANUT AND/OR TREE NUTS.* HOWEVER, THEY MAY BE PRODUCED IN FACILITIES WHERE PRODUCTS CONTAINING PEANUT AND/OR TREE NUT INGREDIENTS ARE ALSO PRODUCED. Munchies® Snack Mixes Smartfood® White Cheddar Popcorn Quaker® Kids Snack Mixes Rold Gold® Pretzels Stacy’s® Pita Chips As of February 27, 2014 the following Food Service/Vend products CONTAIN PEANUT AND/OR TREE NUT INGREDIENTS AND/OR ARE PRODUCED IN FACILITIES WHERE PRODUCTS CONTAINING PEANUT AND/OR TREE NUT INGREDIENTS ARE PROCESSED. Frito-Lay® Nuts Grandma’s® Cookies Munchies® Crackers *The products listed do not contain Peanut or Tree Nut Ingredients; however, they have not been tested for the inadvertent presence of Peanuts and/or Tree Nuts Ingredients. .
    [Show full text]
  • Sunrise Beverage 2021 Craft Soda Price Guide Office 800.875.0205
    SUNRISE BEVERAGE 2021 CRAFT SODA PRICE GUIDE OFFICE 800.875.0205 Donnie Shinn Sales Mgr 704.310.1510 Ed Saul Mgr 336.596.5846 BUY 20 CASES GET $1 OFF PER CASE Email to:[email protected] SODA PRICE QUANTITY Boylan Root Beer 24.95 Boylan Diet Root Beer 24.95 Boylan Black Cherry 24.95 Boylan Diet Black Cherry 24.95 Boylan Ginger Ale 24.95 Boylan Diet Ginger Ale 24.95 Boylan Creme 24.95 Boylan Diet Creme 24.95 Boylan Birch 24.95 Boylan Creamy Red Birch 24.95 Boylan Cola 24.95 Boylan Diet Cola 24.95 Boylan Orange 24.95 Boylan Grape 24.95 Boylan Sparkling Lemonade 24.95 Boylan Shirley Temple 24.95 Boylan Original Seltzer 24.95 Boylan Raspberry Seltzer 24.95 Boylan Lime Seltzer 24.95 Boylan Lemon Seltzer 24.95 Boylan Heritage Tonic 10oz 29.95 Uncle Scott’s Root Beer 28.95 Virgil’s Root Beer 26.95 Virgil’s Black Cherry 26.95 Virgil’s Vanilla Cream 26.95 Virgil’s Orange 26.95 Flying Cauldron Butterscotch Beer 26.95 Bavarian Nutmeg Root Beer 16.9oz 39.95 Reed’s Original Ginger Brew 26.95 Reed’s Extra Ginger Brew 26.95 Reed’s Zero Extra Ginger Brew 26.95 Reed’s Strongest Ginger Brew 26.95 Virgil’s Zero Root Beer Cans 17.25 Virgil’s Zero Black Cherry Cans 17.25 Virgil’s Zero Vanilla Cream Cans 17.25 Virgil’s Zero Cola Cans 17.25 Reed’s Extra Cans 26.95 Reed’s Zero Extra Cans 26.95 Reed’s Real Ginger Ale Cans 16.95 Reed’s Zero Ginger Ale Cans 16.95 Maine Root Mexican Cola 28.95 Maine Root Lemon Lime 28.95 Maine Root Root Beer 28.95 Maine Root Sarsaparilla 28.95 Maine Root Mandarin Orange 28.95 Maine Root Spicy Ginger Beer 28.95 Maine Root Blueberry 28.95 Maine Root Lemonade 12ct 19.95 Blenheim Regular Ginger Ale 28.95 Blenheim Hot Ginger Ale 28.95 Blenheim Diet Ginger Ale 28.95 Cock & Bull Ginger Beer 24.95 Cock & Bull Apple Ginger Beer 24.95 Double Cola 24.95 Sunkist Orange 24.95 Vernor’s Ginger Ale 24.95 Red Rock Ginger Ale 24.95 Cheerwine 24.95 Diet Cheerwine 24.95 Sundrop 24.95 RC Cola 24.95 Nehi Grape 24.95 Nehi Orange 24.95 Nehi Peach 24.95 A&W Root Beer 24.95 Dr.
    [Show full text]
  • ENERGY DRINK Buyer’S Guide 2007
    ENERGY DRINK buyer’s guide 2007 DIGITAL EDITION SPONSORED BY: OZ OZ3UGAR&REE OZ OZ3UGAR&REE ,ITER ,ITER3UGAR&REE -ANUFACTUREDFOR#OTT"EVERAGES53! !$IVISIONOF#OTT"EVERAGES)NC4AMPA &, !FTERSHOCKISATRADEMARKOF#OTT"EVERAGES)NC 777!&4%23(/#+%.%2'9#/- ENERGY DRINK buyer’s guide 2007 OVER 150 BRANDS COMPLETE LISTINGS FOR Introduction ADVERTISING EDITORIAL 1123 Broadway 1 Mifflin Place The BEVNET 2007 Energy Drink Buyer’s Guide is a comprehensive compilation Suite 301 Suite 300 showcasing the energy drink brands currently available for sale in the United States. New York, NY Cambridge, MA While we have added some new tweaks to this year’s edition, the layout is similar to 10010 02138 our 2006 offering, where brands are listed alphabetically. The guide is intended to ph. 212-647-0501 ph. 617-715-9670 give beverage buyers and retailers the ability to navigate through the category and fax 212-647-0565 fax 617-715-9671 make the tough purchasing decisions that they believe will satisfy their customers’ preferences. To that end, we’ve also included updated sales numbers for the past PUBLISHER year indicating overall sales, hot new brands, and fast-moving SKUs. Our “MIA” page Barry J. Nathanson in the back is for those few brands we once knew but have gone missing. We don’t [email protected] know if they’re done for, if they’re lost, or if they just can’t communicate anymore. EDITORIAL DIRECTOR John Craven In 2006, as in 2005, niche-marketed energy brands targeting specific consumer [email protected] interests or demographics continue to expand. All-natural and organic, ethnic, EDITOR urban or hip-hop themed, female- or male-focused, sports-oriented, workout Jeffrey Klineman “fat-burners,” so-called aphrodisiacs and love drinks, as well as those risqué brand [email protected] names aimed to garner notoriety in the media encompass many of the offerings ASSOCIATE PUBLISHER within the guide.
    [Show full text]
  • View Annual Report
    2 Letter to Shareholders 10–11 Financial Highlights 12 The Breadth of the PepsiCo Portfolio 14 Reinforcing Existing Value Drivers 18 Migrating Our Portfolio Towards High-Growth Spaces Table 22 Accelerating the Benefits of of Contents One PepsiCo 24 Aggressively Building New Capabilities 28 Strengthening a Second-to-None Team and Culture 30 Delivering on the Promise of Performance with Purpose 33 PepsiCo Board of Directors 34 PepsiCo Leadership 35 Financials Dear Fellow Shareholders, Running a company for the long • We delivered +$1 billion savings term is like driving a car in a race in the first year of our productiv- that has no end. To win a long race, ity program and remain on track you must take a pit stop every now to deliver $3 billion by 2015; and then to refresh and refuel your • We achieved a core net return car, tune your engine and take other on invested capital3 (roic) of actions that will make you even 15 percent and core return on faster, stronger and more competi- equity3 (roe) of 28 percent; tive over the long term. That’s what • Management operating cash we did in 2012—we refreshed and flow,4 excluding certain items, refueled our growth engine to help reached $7.4 billion; and drive superior financial returns in • $6.5 billion was returned to our the years ahead. shareholders through share repurchases and dividends. We invested significantly behind our brands. We changed the operating The actions we took in 2012 were model of our company from a loose all designed to take us one step federation of countries and regions further on the transformation to a more globally integrated one to journey of our company, which enable us to build our brands glob- we started in 2007.
    [Show full text]
  • Matt Alfano & Brittany Masi Frito Lay Replenishment Manager: Jeff Arndt
    Senior Design Spring 2010 Matt Alfano & Brittany Masi Frito Lay Replenishment Manager: Jeff Arndt Corporate Structure PepsiCo Americas PepsiCo Americas PepsiCo Foods Beverages International Our food, snack and • Frito-Lay North America • Pepsi-Cola North America beverage businesses in: •Quaker • Gatorade •U.K. •Sabritas •Tropicana •Europe •Gamesa • Latin American beverage •Asia • Latin American food businesses businesses • North America foodservice • Middle East • Power of One retail •Africa sales teams Frito-Lay North America represents 37% of PepsiCo’s profit and about 29% of its revenues. * * PepsiCo 2008 Annual Report Frito-Lay North America • Convenient foods leader • $11 billion in annual sales • Division of PepsiCo • 48,000+ employees • Headquartered in Plano, TX • 70+ year history – 30+ plants and 200 distribution centers across the U.S. and Canada. – One of the largest private fleets in North America Brands Category Leader #1 Potato Chips #1 Corn Chips #1 Extruded Snack #1 Tortilla Chips #2 Pretzels #1 Premium Meats #1 Dips/Salsas #1 Branded Nuts #1 Pita Chips Background & Problem Situations Out of Stock (OOS) issues due to: • Little or no control over RSRs (route sales rep.) • Outdated OOS Tools and Server • Unknown appropriate delivery frequencies • Unknown Inventory levels needed per club, per SKU Goals & General Approach • Create a single, user-friendly database/server to make sales information and reports more readily and easily available • Update OOS Analysis Tools Modeling tools used for accomplishing goals and fixing
    [Show full text]
  • Box O' Sandwiches
    Name ___________________________________________________________ 300 Ren Center , Ste 1304 Page of (Renaissance Center) Company _________________________________________________________ Address __________________________________________________________ (313) 566-0028 (313) 567-6527 City ___________________________ Phone ____________________________ Fax your order, then call to confirm your order. Fax your order ahead for pick-up. No need to wait in line — go right to the register. Desired date __________ Desired time ________ am / pm PICK-UP or DELIVERY Order online at * Payment: Cash Credit (please have credit card info ready when calling to confirm) *Delivery varies by location, call your local shop for more info. Potbelly.com ORIGINALS SKINNYS Drinks Shakes /Malts /Smoothies Turkey Breast CANNED SODA LOW_FAT A Wreck® How many of FLAVOR ShAKE MALT Circle your choice Less meat & cheese Coke Diet SmoothIE 1 Italian on“Thin-Cut” bread 2 each sandwich? Box O’ Sandwiches Chocolate Roast Beef with 25% less fat REGULAR OR Wheat BOTTLED DRINKS of Box below Meatball than Originals 20oz Coke Diet Chicken Salad Strawberry T-K-Y TURKEY BREAST ______R _____ W Smoked Ham 20oz Coke Zero Mushroom Melt ® Tuna Salad A WRECK ______R _____ W Vanilla Hammie 20oz Sprite Vegetarian italian ______R _____ W 500ml Crystal Geyser Water Pizza Sandwich Banana Grilled Chicken ROAST BEEF ______R _____ W 750ml Crystal Geyser Water MeatbaLL ______R _____ W Boylan Black Cherry Oreo® FULL BELLY CHICKEN SALAD ______R _____ W If you ordered IBC Cream Soda Sandwich, Deli
    [Show full text]
  • The Disclosure in the Annual Reports by the Listed Companies on the Ho Chi Minh Stock Exchange
    International Journal of Business and Social Science Vol. 6, No. 12; December 2015 The Disclosure in the Annual Reports by the Listed Companies on the Ho Chi Minh Stock Exchange Vo Thi Thuy Trang Nha Trang Uinversity, Nha Trang Viet Nam Nguyen Cong Phuong College of Economics, Da Nang University Da Nang Viet Nam Abstract Purpose: This study aims to examine levels of the disclosure in the annual reports of the listed companies on the HOSE. Design/methodology/approach: This paper applies disclosure indexes to measure the amount information that is disclosure in the annual report of companies listed on HOSE in 2013. The disclosure index is designed basing on 94 disclosure items. Findings: The results show that the levels of the voluntary disclosure in the annual report by the listed companies is low, only at 23,9%. Research limitation: Information disclosure is an abstract concept and cannot be measured directly due to researchers’ subjective opinions. Originality/value: This research contributes to the literature by showing that although the existence of regulations and a monitoring system by regulatory authorities, voluntary disclosure by listed companies in a developing country such as Vietnam is low which influences company’s transparency. The results of this research provide useful information for the State agencies to review, modify and develop disclosure regulations in the future. The paper also can be used as an useful materials for teaching. Keywords: Voluntary Disclosure, Corporate Governance, Annual Report, listed companies 1. Introduction This paper aims to measure the level of information disclosure of the companies listed on the stock market of Vietnam.
    [Show full text]
  • AICPA 2018-19 Peer Review Board Annual Report on Oversight
    ANNUAL REPORT ON OVERSIGHT Issued May 8, 2020 Copyright © 2020 by American Institute of Certified Public Accountants, Inc. New York, NY 10036-8775 All rights reserved. For information about the procedure for requesting permission to make copies of any part of this work, please email [email protected] with your request. Otherwise, requests should be written and mailed to the Permissions Department, 220 Leigh Farm Road, Durham, NC 27707-8110. Table of Contents Introduction ................................................................................................................................i Letter to the Peer Review Board .............................................................................................1 Peer Review Program ..............................................................................................................3 Exhibit 1 Administering Entities Approved to Administer the Program in 2018 and 2019 ....... 15 Exhibit 2 Results by Type of Peer Review and Report Issued ............................................... 16 Exhibit 3 Type and Number of Reasons for Report Modifications ......................................... 17 Exhibit 4 Number of Engagements Not Performed in Accordance with Professional Standards in All Material Respects ....................................................................................................... 18 Exhibit 5 Summary of Required Follow-Up Actions ............................................................... 19 Exhibit 6 On-Site Oversights
    [Show full text]
  • “INITIAL REPORT of SIP” by Saurabh Srivastava (Reg No- 5116
    “INITIAL REPORT OF SIP” BY Saurabh Srivastava (Reg No- 5116) Of Vishwa Vishwani Institute of Systems and Management Under the guidance of (Mrs.Sunita Ratnamakar) Prof- Marketing A Project Report Submitted to the Faculty of Business Management In partial fulfillment of the requirements For the award of the Post Graduate Diploma in Management July 2010 Boston House, Thumkunta, Hakimpet(Via), Hyderabad 500078 Phone: 08418- 247222,247522,247622, Fax: 08418- 247166 www.vishwavishwani.ac.in ORIGIN OF A COMPANY:- It can be said with absolute certainty that the RKJ Group has carved out a special niche for itself. Its services touch different aspects of commercial and civilian domains like those of bottling, Food Chain and Education. Headed by Mr. R. K. Jaipuria, the group as on today can laid claim to expertise and leadership in the fields of education, food and beverages. The business of the company was started in 1991 with a tie-up with Pepsi Foods Limited to manufacture and market Pepsi brand of beverages in geographically pre-defined territories in which brand and technical support was provided by the Principals viz., Pepsi Foods Limited. The manufacturing facilities were restricted at Agra Plant only. Varun Beverages Ltd. is the flagship company of the group. The group also became the first franchisee for Yum Restaurants International [formerly PepsiCo Restaurants (India) Private Limited] in India. It has exclusive franchise rights for Northern & Eastern India. It has total 46 Pizza Hut Restaurants & 1 KFC Restaurant under its company. It diversified into education by opening our first school in Gurgaon under management of Delhi Public School Society.
    [Show full text]