Innovation. Creating what consumers want next.

Snacks
Net Revenues $9.2 Billion
As the pace of life quickens, the snacking trend continues to grow. People want snacks that taste good, but they also want convenient, better-for-you snacks that bridge the growing mealtime gap.

Beverages
Net Revenues $6.1 Billion
Kraft offers more than just “something to drink.” We have beverages that refresh, relax, energize and help people meet their nutritional needs. More and more, people are looking to Kraft to quench their thirst.

Grocery
Net Revenues $5.2 Billion
At Kraft, sometimes innovation means thinking outside the box – and inside the cup, bottle, packet or jar. No matter what form or flavor, Kraft innovations in quality and taste are as close as the nearest grocery aisle.

Cheese & Dairy
Net Revenues $5.6 Billion
Carb-conscious consumers are choosing the calcium-rich goodness of cheese. And Kraft is there to offer it to them – their way. Around the world, we meet local needs to satisfy the global appetite for cheese.

Convenient Meals
Net Revenues $4.9 Billion
To help take the stress out of mealtime, Kraft offers a wide variety of easy meal options for the whole family. With our broad menu of meals, we’ve got the great tastes that make even the most finicky, time-pressed eater run to the table.

Download Kraft Foods Inc. 2003 Annual Report

PDF format, 2MB, 66Pages.

Kraft Coupons

Don't Miss Out!
Coupon savings available while supplies last.

Kraft Foods Magazine

Kraft Foods Inc. (“Kraft”), together with its subsidiaries (collectively referred to as the “Company”), is the largest branded food and beverage company headquartered in the United States. Prior to June 13, 2001, Kraft was a wholly-owned subsidiary of Altria Group, Inc. On June 13, 2001, Kraft completed an initial public offering (“IPO”) of 280,000,000 shares of its Class A common stock at a price of $31.00 per share.

The IPO proceeds, net of the underwriting discount and expenses, of $8.4 billion were used to retire a portion of an $11.0 billion long-term note payable to Altria Group, Inc., incurred in connection with the acquisition of Nabisco Holdings Corp. (“Nabisco”). After the IPO, Altria Group, Inc. owned approximately 83.9% of the outstanding shares of Kraft’s capital stock through its ownership of 49.5% of Kraft’s Class A common stock and 100% of Kraft’s Class B common stock.

Kraft’s Class A common stock has one vote per share, while Kraft’s Class B common stock has ten votes per share. At December 31, 2003, Altria Group, Inc. held 97.9% of the combined voting power of Kraft’s outstanding capital stock and owned approximately 84.6% of the outstanding shares of Kraft’s capital stock.

The Company conducts its global business through two subsidiaries: Kraft Foods North America, Inc. (“KFNA”) and Kraft Foods International, Inc. (“KFI”). KFNA manages its operations principally by product category, while KFI manages its operations by geographic region. During 2003, 2002 and 2001, KFNA’s segments were Cheese, Meals and Enhancers; Biscuits, Snacks and Confectionery; Beverages, Desserts and Cereals; and Oscar Mayer and Pizza. KFNA’s food service business within the United States and its businesses in Canada, Mexico and Puerto Rico were reported through the Cheese, Meals and Enhancers segment. KFI’s segments were Europe, Middle East and Africa; and Latin America and Asia Pacific.

During January 2004, the Company announced a new global organizational structure, which will result in new segments for financial reporting purposes. Beginning in 2004, the Company’s new segments will be U.S. Beverages & Grocery; U.S. Snacks; U.S. Cheese, Canada & North America Foodservice; U.S. Convenient Meals; Europe, Middle East & Africa; and Latin America & Asia Pacific. The new segment structure in North America reflects a shift of certain divisions and brands between segments to align businesses with consumer targets. Results for the Mexico and Puerto Rico businesses will be reported in the Latin America and Asia Pacific segment.

The Company’s 2003, 2002 and 2001 results by segment are discussed herein under the reporting structure in place during 2003. The Company will report financial results in the new segment structure beginning with the results for the first quarter of 2004, and historical amounts will be restated.

Comments (0)

Name

Email

Comment

smaller | bigger

Add Comment