BROWN & VOLLIAMSON TOBACCQ
AULAMARY INCOME STATEld
I ABSOLUTE VA-R-lAt-4C-F--S----j
MAY. 1991
(DOMMInrMum"
CU
RRENTMONTH
I
YEAR-TO-DATE
----I
CHANGEPROM-
DESCRIPTION
CHANGE FROM:
AMAL
BUDGET
LAST
T&AR I
I
OF1055 3ALE3 U
NITS: affiwo"
ACTUAL BUDGET
L"T
YEAR
ft
6.519
91
* 522 1
DOMESTIC
17.932 * 1,692
416
2.41
t 3,068 1
$74
* 1821
INTERNATIONAL
14,9491- 3.477
-
1.519
9.21
L V@W 1
- 483
- 7041
TOTAL
32.881 5.059
1,102
3.21
IGROSS PAID SALES:
256,=
2,739
1,712
DOMESTIC
815.5116
92.M
82,509
11.31
$3.417
10,654
is
INTERNATIONAL
26615"
56204
-
5.195
1.91
1 6.6991
5=
3.528
ELY (EXCLUDES BWT) 1
07.925
1?
17,375
2.027
3.11
3117.0"
2,5511
5.222
TOTAL U.S. BASIS 1
1,150.070
_
ISOMM"
130.L
79.341 1
7A
TWINS PROFIT:
11111
18.225
DOMESM CONTRIBUTION
190=4
$6.932
SA44
LS
km
am?
NTERNATIONAL CoNyA.
77.504
10.79f
4.519
5.5
@
968
1.596
1 COC MANUFACTURING
55.5" 1
7.944
1 4.4310
7.71
64"4
64 4
an
515
ELT CONTRIBUTION
SAN
I'su
IASI
Ll
8.124
Sol
1,120
CDC OTHER
20.M
5.544
4"
ILS
400
-
-
NOU UFO
2.040
- 4
- I
r
$0.967
6.161
21=
U.S-TRAOM PROFIT
185.719 l
* 31 AM 1
. 2.5211
IA
I W.M @W"%v rrlwr4l
CD
Nola: AnLitorMbileonanunfavmwcoqarimonftspoW (we accompanying commaniM
On SURWN" InWM StAt0meftt U.S. Acminting Basis). co
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LA.T INDUSTRIES P.L.C. MWGSOTA DEpoWrM COPY - PRODUCED PURSUAwT To I V11M. OF
CoNsENT JUDGMENT DATED slavvie IN Sun og ftwesom ET AL K MORRA ET AL. CASE NO. Cl 44-N"
C014MENTS ON SUMMARY INCOME STATEMENT
U.S. BASIS - I NCES
i!1M1
(Dollar A iTjEi:::jA
MAY. 1991 VERSUS BUDGET
May, 1991 Trading Profit of $81.0 was $6.2 lower than budget, due to the
following:
Domestic profit contribution of S91.4 was $3.3 lower than budget. Marketing
expenses were $4.2 greater than budget due in large measure to the timing of
media and promotion expenditures ($2.2) and higher loss on returns expense
(S2.3). Variable Margin was favorable $1.4 due mainly to the favorable
effect of the March price increase ($6.3), which was partially offset by in
unfavorable mix variance as the margin impact of lower than budgeted Full
Revenue (-.1 billion) and Low Price Branded volumes (- .1 billion) more than
offset the effect of increased GPC volumes (+.3 billion units).
International profit contribution was SS.1 below budget due to unfavorable
variable margin ($5.4) resulting from below budget volumes (.6 billion,
mainly The Levant Group. Singapore, Hong Kong and Japan).
MAY, 1991 YEAR-TO-DATE VERSUS BUDGET
Year-to-date trading profit of $185.7 was $31.1 below budget due to the
following:
Domestic profit contribution of $190.2 was $36.9 below budget due to an
unfavorable variable margin (-562.1) resulting principally from an unfavorable
volume/mix variance:
VOL/NIX
VOLUMES VARIANCE
Full Revenue -1.7 -62.6
Low Price Branded -1.0 -23.8
Extra Low price +1.1 +10.7
Marketing expenses were favorable $24.1 due mainly to timing of expenditures
associated with RICHLAND, CAPRI, RALEIGH EXTRA and VICEROY, offset partially
by unfavorable expenses associated with loss on returns ($10.1).
International profit contribution of $77.5 was $10.8 unfavorable due to an
unfavorable volume/mix variance ($30.4) resulting from lower volumes (-3.5
billion, mainly in the Far East), offset somewhat by a favorable spending
variance due to cost standards ($4.6) and favorable advert is Ing/promoti on
07.1, due to timing).
Comm operating costs - manufacturing were $7.9 favorable due to the timing
of overhead cost assigned to Finished Goods and Macon overhead spending.
mainly maintenance and overhaul.
ELT profit contribution was $1.9 favorable due to increased sales volumes to
Germany, Hong Kong and BAT W&E.
Common operating costs - other were favorable S6.8 due to lower legal (S3.6).
damaged & obsolete materials ($.9), research and development (S.9) and profit PQ
sharing ($1.0) expenses. C>
(Continued) co
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B.A.T INDUSTFUES P.LC. - Mp#ggarA DMKWrM Copy - PRODUCED PuRwAMT To I VII.D. OF
CoNsEW JUDGMENT DATED 5/6W IN SrATE OF UNNESOTA, ET AL V. pp&ip Akgm, ET A" CAsE No. C14K-MG
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BAT IMMMIES P.LC. - MwmEsoTA DEpowom Copy - PwwcED PuRSUMT To I VII.D. OF
ComsENT JuDawNr DATEo SAM iN SrArE oF Aftwsom ET AL v. Pmv Atom& ET CME No. Cl-94-6565
C"ENTS ON SU " WVA STATEMENJ
U.S. BASIS MOLIN LRIANCES
(Dal) rs In "illjonal
_T
May's year-to-date trading profit of $185.7 was S2.5 lower than last year due
to the following:
Domestic profit contribution was $5.4 lower than last year due mainly to
higher marketing expons as (S35.4), offset by higher variable margin (S31.5)
as the impact of the increased pricing was partially offset by an unfavorable
volume/mix variance. The unfavorabl 0 volume/mix variance resulted from the
sales mix shift from Full Revenue (-I billion to Value-for Money (+2.3
billion). The higher marketing expen;.' is maiNy associated with increased
promotional activities (primarily VICEROY and RALEIGH EXTRA) and loss on
returns (S12.0).
International profit contribution was $4.5 lower due mainly to higher
International Brand Management and Selling Allowances. offset somewhat by
higher Licensee Income (mainly HILTON in the Far East).
Common operating costs - manufacturing were S4.6 lower due mainly to lower
cost variances and the favorable impact of higher overhead cost assigned to
Finished Goods, somewhat offset by higher other overhead spending.
ELT profit contribution was SI.5 less than last year due primarily to sales
to SAT UXLE of both 2909 and the majority of the 1990 crop flue-cured
requirements in 1990 ($1.5).
Common operating costs - other were lower $4.3 due mainly to legal expenses.
-Ib-
C:0
B.A.T ImMMIES P.LC. MPNEWA OPCOffORY COPY PwoucEo PuRsuAmr To I VILD. OF
CoNsENT iweww DATEo &VU iN SrATE oF Atywsom ETAL V. PHILP UOROW, ETA CAsEft.CI-944M5
BROWN AND WILLIAMSON TOBACCO
MANAGEMENT INCOME STATEMENT
JOPERA FiNG
(DoIIws in Thouonft)
curi
vw
mowrm
YmTOI1AT1E
VAMANCE
ON
VARIANCE
I
LAST
Acrol
AMOM
%
%
AMOM
AMOAL
YEAR
me=
Va
1.11%
GROSSPAIDSALESDOMESM
1411%
um
0&11311
?XLm
2
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1.353
&9%
VARIAIRE MAFGIN
110
OL130
4a4w
451.9"
'
J
J
1
SIX"
&402
U
SPECIFIC IRMO EVWfSES
52
Din
1OZ446
13LBM"
--
:
4
1111,671
.Do
.
ILj
111PANDCONIFIKITION
(A"ER RETLOWS)
I 19-j
71.705
1
:
F319.371
1
1
NON-SPECIFIC
5
21.471
115
1
0
MARKEnw
I.M
Imirl
SGAW
J
GENERAL&
6
SAM
iss
3
ADMINIEWTIVE
&2%
9"
SUN
V.202
PROFTr
m
a
w
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7
SUN
1.118
om
o
m
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SLS%
WAS2
19DA4
looms
a
12.101
4.0V
IS."
WrIINNATIONALPROPIT
0ONTRIBIJI'M
17im
8116023
COMMONOPERNTING
9
UAo
m
5.1%
OOXrS4AANLIFAcnw4Ne
AIM
am.
aLm
4min
tw
a"
m
IwM
ILTPNWCONrmovlm
COMMON OPEPAIM
I I
Llld
173
Lo"
008731-OTHEIR
34AN
12
401
1
NBULN4047DW
Loo
U40
13
80,0117
Uls
41
TFADINGPOWFIT
C%
NCFM- AN ASTOW MWICATES AN UWAVORABLE VARIANCEWITHIN THIS 1181AMI 'TIMAPOPARYVANANCWHAVE
11MECOLIJI)IN) FWNTHIS SCHEDtAE AND WOSEOUEMrSCHMM PFMM=WffMrr§S REPORT
_2a_
B.A.T INDLISTRIES P.L.C. - MINNESOTA DEPOSITORY Copy - PRODUCED PURSUANT TO I VII.D. OF
CONSENT JUDOWNT DATED SAM IN STATE OF AtimmsorA, ET AL v. PHxp Afogim Er CASE No. C14M4M5
MAY YTO
Trading Profit - Absolute Variance 6115lu S311090U
Less Temporary Variances 2,63SU 4S.729F
Line 13 Trading Profit - Operating Variance S 3,516
=1Y Of_ Tfum"'I'AC"
tic '"
ix 51128U 76,49910
0, Vo lHi
Variable Margin Spending 6.4BOF 14,368F
Specific grand Expenses 21402U IS75U
MwSpecific Marketing Expenses IISF 1:25SF
General L Administrative Expenses 183U 959F
International Profit Contribution 4,027U 17,25lu
Coma Operating Costs - Manufacturing 791F 2,655F
ELT Profit Contribution 665F 1.852F
Common Operating Costs - Other 173F 5.416F
Total IM"
Line Z ,
o.s! MARGIN VOLLIMUMIX for the month and year
foliAll -to-date was as
"011th r-to-nate,
(Units in millions) Units bl-Lmix- Eg@! Val. /141 K
Full Revenue Brands 130U TX-IU 2,6501) 62.SB4U
Low Price Brands 143U 3,194U 98JU 23,90611
Extra Low Price 362F 3,67OF 1,061F 10,703F
2,r,j,elt I&rajzLSoj!jdjag,for the year-to-date ($13.657F) results
y frL
am favorable pr cing versus budget.
Line 3 TOTAL SPECIFIC BRAND EXPENSES were $2,402 and $9,515 unfavorable for
the month and year-to-date, respectively, due mainly to higher than
budgeted Loss on Returns expanses.
Lin@ & :"-1PUIFf.CMARI1,1,T,15 "plN,,ES were SI,255 favorable year-to-dat* due
inly to or t budget elling Field expenses.
Line 6 I'M- NISTRAUVE EXPENSES were favorable $ISO yter-to-date
due n rytnh' timing of expenses associated with Quality promotion
activities vorable Professional Fees (mainly Government
Affairs), 6f;'i
ce Supplies and Bad Debts.
Lirw 8 fffIFRNATIONJL PRW IT RIJTION was unfavorable $4.027 for the moth
due to a volume/mil vViffice resulting from unfavorable volumes (-.6
billion, mainly the Levant Group, Singapore, Hong Kong and Japan).
The unfavorable SI7.2SI y*ar-to-date variance was due to an
unfavorable volume/mix variance resulting frm lower volomes (-3.5
billion. mainly China/Mong Kong. the Levant Grmp. Singapore and
Ipan), offset somewhat by a favorable rate variance :nd gains
aNociated with foreign exchange revaluations. The f vorable rate
variance was due to lower variable manufacturing cost versus budget.
Line 9 ' 5 re favorable for the month
=AVEte EeSTLT, lytotfial""po"flucon branch maintenance
'Wr
spending.
Line 10 FLT PROFIT CO@TRIBUTION was favorable $1,11SI y*ar-to-datt due
primarily to increased sales to Germany, Hm* Kong and SAT UUE.
Line 11 OW OPERATING 4 were S5.416 favorable year-to-date due
to lower LOP
main) too . ;S=OTgm:d A Obsolete Materials, Research and
Devolyopment and Profit Sharing expenses.
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BAT INDUSTRIO P.L.C. - MINNESOTA DEPOSITM COPY PWWCED PuRwANT To VILD. oF
comsENT JummENT DATED 5098 IN STATE OF AWKSOTA, IT 61- K PHUP MOR38, IT CASE NO. C1414-MIS
goo
goo
1
,
0
_
.
840
:
0
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. IIIIIIIast WW E0 Budget AGN&I
-
400
740
-
-
750
Too
-
-
A
700 I
'
I
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-
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460
-
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-
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340
0
300
-
-
"oo
3
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-
-
260
200
-
-
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160
I
-
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100
L
, K
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40
h
-
Im
-
60
-
m-
0
,
=
.40
--A--..L- @- J
-60
JAN FEE MAR APR MAY JUN JUL AUG SEP OCT NOW DEC
BROWN & WILLIAMSON TRADING PROFIT
(DOLLARS IN THOUSANDS)
ACTUAL
OPERATING
VARIANCE
LAST
YEAR
JANUARY
S 6,357
S17,197U
($25,560)
FEBRUARY
5,310
21.563U
9,850
MARCH
63,572
4,8881)
79.157
APRIL
29,525
31,0211)
22,777
14AY
80,957
3,516U
102,01A
YEAR-TO-DATE
185,719
76,819U (a)
188,240
(a) May not add due to reclassifications of variances.
00
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C:)
B.A.T INDUSTRIES P.Lc. - MINNESOTA DEPOSITORY Copy - PRODUCED PuRwANT To I VILD. OF
ComsExt JuDamENT DATED 5008 IN STATE OF AIIAMSOTA, ET AL V. PNXlP MORRB, ET CASE NO. Cl 94 8565
BROWN & WILLIAMSON TOBACCO
CUMULATIVE TRADING PROFIT
1991
BROWN & WILLIAMSON TOBACCO
MONTHLY TRADING PROFIT
loci
ISO
IGO
too
140
-
- Actual Budget
150
140
M ISO
-
130 M
120
-
190
110
-
110
loo
:
IOD
90
so
so
-
l
80
t
70
-
70
So
A
-
so Do
so
-
so is
40
40 a
30
30
20
i
20
10
10
0
Jon Fab Mar Apr May Jun Jul AM Sop Oct Nov Doe
0
BROWN & WILUAMSON TOBACCO
MONTHLY TRADING PROFIT
1901
IGO
too
ISO
-
160
140
- IM Last Year IIIIIIIIActual
140
ISO
.
130
M
120
.
120
110
,
110
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.
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so
-
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90
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A.T IMUSMIES p.LC. - MsvlWTA DVOS1`110" CO" pmmco puFtsuAmT To I VILD. OF
TA, Er At- V. Pmxp AkRm& ET CASE No. CI-94-MS
CONSEW JUMMEW DAUD "M IN STATE (W 111,111"0
Domestic Sala Quantities
may, 1991
corent Month -Yeg-To-Dow
+ or -
+or-
+ or -
+or-
Actual
Budget
1990
Description
AcUW
Budget
1990
3.009
(00)
(1,046)
cinrettes nn minionsi
Full Ravowe
9.MS
(1.66%
(1,M
Value For Mawy
2,015
(143)
(237)
Price BraWW
3,430
(911)
(M
1 1,4041
362
761
LOW Price
S.274
1.061
1.982
1 2,5101
220
5241
Valve FW 36UMY
0.703
A
79
2=
1 $.SIP 1
90
(522)l
ToW CUnnew
17.932
(1,5M
416
1 "31 (20)1 (15) ISM PMdW& (h nmmd- Pow*) 1- -2.0441
53.0291 6.M 1 4811 Vokatry Sake T 193,3231 IXU r-(9-.-4275)
W WILM SAM hmou
5.7%
-1.1%
-2.0%
FuU Rxvmw
4.1
-0.91
-0.7%
V" For Moemy
1.9%
-0.6%
-O.S%
Low Price BnLWW
1.8
-0j%
-03
2.2%
0.4%
1.4%
Extra LOW Prim
2.7*
0.5%
1.6%
4.7!h
-0.2%
1.0
Vohs For MM
-4jY4
9.0%
13%
1 30.4%]
-13%1
-1.3Sj
TaWMwjw Shm Avow
9.31N
-0-9L
I
.61
S
UW's shipments for the month totaled 5.5 billion units, Indexing 102 to
budget. ThIsi;trong performance resulted partially from anticipatory buying by
the trade, tr gored by PH's price increase announcement. UW's lowest priced
products, GPC and RALEIGH Extra also continued to exceed budgeted trends. NSA
market share for the month was 10.41%
UW's yoar-to-date volume indexed 92 to budget and 102 to last year. Resulting
NSA market share for total S&W was 9.27%. For the twelve months endin Kay,
SLW's 1991 NSA share at 10.56% was slightly (.18 points) below last yelar.
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MR&UMA DEPOSITOW Copy - PnODUCED PURSUANT TO I V11-0- OF
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COMSENT JUDGMENr DATED 5401 IN SUTE OF MWESOTA, Er AL V. PHLV UORFIJ& ST CASE NO. CI-944"5
Dortattic SWo Qmtities
may, 1991
cmmt month
-
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(325)
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177
(34)
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36
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B.A.T INDusrR*s P.LC. - MWESOTA DEPOSITORY COPY - PRMCED PURSUmT To I VILD. oF
CoNsENT JuDowNT OATEo SAM im SrATE oF A*NNEsoTA, ET AL v. PHILP AkRm& ET CASE NO. C14M4M5
Domestic sales Qkwtities
May, 1991
Cmmt month
-
Year-TO-Date
-
+
'w
+or-
AMW
B
u
dget
1990
i I
D
+or-
I
+or-
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)
AcOW
Budget
199D
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(M)
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l
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197
216
(71)
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(95)
(91
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Box Kinp
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c=)
B.A.T ImusmiEs P.LC. MMESOTA DOXWORY COPY - PRMCED PURMANT TO I VII.D. OF
CoNsENT JuoommT DATEo 5/8M iN SrATE oFA*NwsorA. ETAL V. PNXP NORM, ETA CASENO.Cl4M4W5
MarbWq Eq=se
(Dollars in Thousands)
INUY. 1991
Year-T&-Daft
Specific Amid E=Mft
8.80
mWill
=tb-
33,128
25.209
21,102
I
(62)1
Specific
SU
%.050
95"
1SS
-
covp= Promadcom
774
924
30,0631
(941
radspni (SIN&VANINIM)
SU
t2P.M
112,101
6.116
aX9)
Lm w Romw -
(10,109)
32.494
20,472
36.rn 1
(4401)I
rbW$ mWEVeemw
pod& A
(9473)
162.446
LV.M
Total Marketing Expenit was S2,296 and $8,320 Unfavorable for May and the
YWA048t* due to higher than budgeted Loss on Returns expense associated
with higher return units from the trade (S2,339 month; $10,109 year). The
yoar-to-date unfavorable variance was reduced, somewhat, by lower thin budgeted
Stm ng Field expense ($1,25S) associated mainly with lower than budgeted
Training and Miscellaneous Operating expense.
NJ
C"
_N;
Copy D pUMAW To VILD. OF
Mg*MWA DEPOSITORY pRMCr CAsE Mo. ci44-MS
B.A.T INDUSTNES P-LC- V. Pmtp hu"WOMMRAM
cotmw JUDWANT DATED SISVMW IN TE OF SoTA, ET AL
58" c'mirow RNt"Ing Xxpg@ J!@j 264,477
Specific MarbAng Expea By Bmnd
(Excluding Rtum)
May. 1991
Current Month Year-To-Daw
Actni
I Opm*
Variance
I Desaiption
Opmtins
Achal
FAUADVMW
1
91031
-
Kod
-
36,219
31,119
95
-
R"A
-
413
2,3%
55
-
B"r
-
7
297
S
2
I.SS2
I
-
Bartuy
-
17
17
US
3.1"
-
cmi
-
17.123
23
18.374
12,Sj
-
roadFaUitsmam -
-
12S
34A" I
value Far maw
1"@ price BAW"
2.238
-
MY
23,138
10.8%
M
-
lklair
l
9,408
17.130
1.89s
-
NeWaad
17,027
min
12.013
- , 1
7bwj LOW hime amm"
SO.M.
maps
Exft
LOW MOD
-
U99
-
0. P. C.
7.3241
14.
3.701
-
Rattio
7.026
3.
Sim
- I
TOW EM LOW Price
24.350
-is
17.3131
TOW vk. rw maw 74.6231 56-,_07S
makeft
By MW Caegory M=bmft LA= Do Raw=)
Year-TO-Date
(Doom in Tbammb)
Ac" P
AMWI
MOO
74 U.0k
zs U.V
&
9,571 US
12.091 7A
101a:5 94
MM.
0
14,319 11.41
20,?V 12.1
7.40 6.1
Pftdwdm
2.U9 2.2%
4,066 LS
1.171 1.0
F"
4,6V 1,69
4,42S 2.7
3.6V 3.2
.2
AD Odw
10MAMMMIrAW
I'm 0.9%
ji'lza AM 5
I'm 0.2
-a
1,760 1.6
mow oil GOMPOSS &'VFK
FM md SaMples
PSYMMU
11.VW
41114
@13,4
3.2
OY.971
4,113
47_3
%
2.3
.77Z
.00
43.3
7.1
mawials
10.752
83
@
3911"
11's
@
10.6n
93
Pmadmi kyrmau
1.453
1.1
8.291
5.2 S
MUS
11.9
AD Odor
7,766
6.05
It.309
31.)
SIM
4.7
raw P, g - g Pi , SJ*d&
-96.050
73.9
%
11$-919
73.2
-95,961
7&7%
CO
PAMI pmwm proffrani
774
0.6%
1
775
0.5
%1
924
0.1
GAW T"d spacirk EXPOM
M 1
129.952
JOD.O%j 162.426
100.094
112.101
100.0%
B.A.'T INOtMTRIES P.LC. MMESOTA DEPOsITOW CWV pWMUCED pURwAmT To I VILE). OF
COMENT JUDGMEwT DATED $ISM IN STATE OF OOTA, ET AL v.-PHZIP "M ET Al- CAM No- C1444063
Brand Contzibution
(Befom Rcwm)
(DOUM W ThOUSIDds)
May, 1991
CwTent Mooth Year-To-Daw
AcW
I
1
0
V= I
Actal I
Lam
79.312
(2.931)
Fau "w"s
KOW
(39.90)
22S.6t2
236,610
5,856
(852)
PAIcialz
(7.322)
17,33.4
25.626
4,131
312
B412k
(1,173)
12, 664
15,617
3.729
111
Bamlay
(1.636)
11,430
12,416
5,696
--VF.TKI
340
F:* reu Siam
(5,W)
(53.7U3
14.40S
--Zgr.W
5,790
W
Who FW maw
14.352
1,671
(1.617)
167
(372)
(723)
V=
Belak LPS
EkbInd
(11,972)
1
27.353
(S12)
263
.
26,394
01136)
16,189
9.374)l
(
34
.IU41
310,447
026
4.162
M.65Y
2,9111
2.284
3.277 J
.. LOW FMC
Raleigh Enm
TCWr=@@
1.979]
4
20,11W
8,447
"'mv
(634)
aa@
MWI)
751UP6 1 4.345 1 I-ow yshofw Afftw (31749)1 W.3521 36'Z-0M'
U 1 - IN-FladwLIPWAtFolew - 1 411 tyj)i
1n.972 1 I.4M 1 ToW Be= 1 (61,451)1 34S.3371 331.912
SneciaW TabowD Phmbwm
.UU
1.166
66
1
(AY)
071)
I
M-Your-Owo
103
(574)
MA
51"
IM
4,727
169
169
@
(24)
Ch*wWS Tobee"
$5
733
749
-
(
$1
SMIT
209
331
093
1.6151
(1401
TOWMA0*0
4a
9
8,147
719"
125.427 1
1.291 f
roWAI/Miodaw
-
-
L61:M
353AU
339,10
@gldnoIrtl hut ion was $61,596 unfavorable for May year-to-date due to selling
as its an bud eted of Full Revenue ($51,371 year, mainly KDOL, RALEIGH
and CAPRI) and Low Mce Brands ($23,806 year, mainly VICEROY and RICHLAND).
These unfavorable variances were offset somewhat by favorable volume sales of
Extra Low Price brands (SIO.703 year) mainly SK and the impact of higher than
budgeted pricing ($11,834).
-7a-
rQ
S.A. .T IMMYRIES P-Lr- Mn#nwA DEPOSITOM Copy pwWCED pWmAoT To VILD. OF
CONSENT juDwmmr DATED SM IN !LATE OF A*MNE$O'rA. ET AL v. Pwv WOMM Er A" CASE No. CI-94-MS
cunut Month Bmod Coatribution Year-T&-Dmte
pfke
chm9es
cost
Manges
vohlmel
Mix _
I Spcific
MarblitIt
I Varb=" i Spedfic
mieming
I V oluml
mix
Cost
onnes
I price
Manges
nu ROVMUO
(151)
(4,665)
-
KoW
-
(44,841)
1,141
3.731
131
(19)
(964)
-
,4
Rakish
-
(7.538)
(22)
239
92
(2)
222
-
Balair
1B
-
(1.34S)
1
(1)
173
95
(4)
loo
-
B
B&MJSY
-
(I'M)
4
IS3
212
362
(194)
-
c
-
(7,068)
1.175
289
V.1- 12- U-
1=1
226
529
(25)
(a)
4
(1,331)
(93)
(1,255)
1 l
1
Manded
mercy
Bobir LPB
Richland
7-OW UWX@@
-
-
-
-
(14@"4)
(2.184)
(7,OM2S
(36)
2'0
2.7S$
CS
1.067
-
WO)l
(P)l
4.M
o 19)
F
1,68SI
-
13
231
-
3,095
575
1
Low Aft-
Extra I
I
143
9.
1.5591
1"
1-03
(4w)j
3.2851,
--t
T%FT
-- J.Gru
i
-row fim LOW Met I
- I
Sul JU3
--w
21"6-
1 131 1 Toml VOW Swr Umv I - 1 ).116
il%W PMdUet Dovok"Wt I - I
US 1 1951 (5,01S)l - I (7S.a7)1 2,SM T 11.701 1
V.1- F- bA-
2SAII
IIA
13.21
1:.41
S138
14.03
24.101
PA
13.39
3041
5.80
14.0
24 *"
"
(1.42)
1.0
MIA!
(11.
Adak
25.U
12.50
IL76
30.14
"
(6.1m
23.70
16.61
7.01
19.77
124
1133
KWUNA
34.01
.16.36
8.31
Will
ICU
13.06
34.40
Kid 1
9.45
720
LAw Prbm kmW
34.861
11.93 1
_ ILPI
311M I
L57
11.64
JIM
2.40
1
6.80
1
(0-M
1
, , 1
r
C.
,p@-
0.34
1
1
3.11
1
7.23
1
7 W
'
1
31S
*
1
3
11.80
7.89
3.91
M.
.
,
.1.29
7.03
4-M
72
G
8
01
(2
4.671
-
5AI 1
#32 1
8.27
-
F--(IM)I
-
T LOW 1
10.371
3.011
5.791
6.91 1
-TJ6 I
-
-
-
-
T
I-
&,w T
3.5Z
7
V.
V3
imw
7
A
1
I.JS 114.131
I Mve
O.Yo
value For 1 13.161 4.40 t 9ju 1 ".91
1
4AS 0.621 4,041 4.551 GM; 3.71 IStP 1 4.SIj 0.401 3.94 1 clo 1 9.33 1 M., 4=1
B.A.'T IMUSTFIES P.Lr- - MWMWA DEPOWrm Copy PRIMICED PURWAw To VILD. OF
CONUNT JUDOWNT DAMD WM IN STATE OF MINNESOTA, ET AL V, PMLip UORRAL U-66 CASE No. Cl-94-66"
WAS 5.141 nAl I W8 1 3.741 211,44 31121 1 3.191 34." 1 3IA31 2.221 31.211
JIM L97 33*0 31,79 2,92 0,17 It"A 37JP - "-41 32." 0," 32M
MAI 0.91 35.72 31.79 2.92 28.97 ld* 37A3 - 370 U117 0.37 32.50
35M 0.05 35M WIN 1.79 29.21 Mrday M37 - UM 32.09 0.18 31.90
33.561 Ism 15.33 29.1141 22.70 tif cand nA$ 12.65 20.39 20.17 Jim 17.74
r%j
c:)
00
C)
C=)
114
c7%
ILA.T INDusmas P.LC. - MW*SWA DomffoRy Copy - PRMcED PURSUANT To I VILD. oF
CoNsENTJuDowNTOATrcDS/MiNSrATEoFA*Nwso,rA.ErALv.PmLpAfmgn,ErA CASEHO.Cl-94-8465
DOMEMC GENERAL A ADMIMSTRATME EXPENSES
(DOLLARS IN THOUSANDS)
MAY. 1991
CURRENT
M
YSAR-
TO-DAT3
ACTUAL
VARIANCE
DESCRIPTION
VARIANCE
1AR
OAL
EAST VEX
ZJ17
0 U
SALARIES A EbOWYEE WELYARE EXPENSES
592
13.610
13,M0
52P
46
OTHER MOLOYEE RELATED EXPENSES
322
2.782
2.711
IdDs
207
GENERAL OVERHEAD
565
5.10
3,446
3M
* 39
COMMUNITY & INDUSTRY RELATIONS
32
2.SU
2.MS
1.03
0 221
OUTSIDE SERVICES
261
3.156
4.743
412
- M
NUSCELLANEOUS OPERA71NO EXPENSES
35D
I.Sa
irgs
(6071
* 9
TRANSFER CHARGES
M
(3.3"
(3.109)
1
TOTAL DOMMM GENERAL &
I
3.6"
184
ADM3NISMTTVE EXPENSES
M
M725
SA;AITFS A DIPLOYFF WFLFARF ggPENSFS were unfavorable S592 for the yoar-to-dat* due
mainly to hIgher Employ" Welfare expenses associated with payroll taxes, Pension& and
group Life lusuranc*.
OTME! IMPLOYFF MATED UPENSFS were S382 favorable for the year-to-dato due mainly to
the Quality Recognition Event being hold in June but budgeted in January, and favorable
Office Supplies expense.
GENERAL OVERHEAD was favorable $207 for the month due primarily to favorable
maintenance. The year-to-date favorable variance of $565 was due mainly to favorable
Hariat insurance discounts. Kaintenance expenses and Taxes (primarily associated with
timing of sales and use taxes).
OLITSIDE SERVIM won unfavorable $221 for the month due to timing of Professional
Fees &
& Services associated with Government Affairs and Numan Resources. The favorable
S161 variance for the year-to-date was due to favorable Professional Fees & Services
associated with Government Affairs.
MISCELLANEOUS QPERATrKC -EXPENSES were favorable $350 year-to-date due to favorable 8ad
Debts and Postage expenses.
00
C:)
pMMCED pURWAw To VILD. OF
B.A.T IMUST!MES P.LC. MMNESQTA DOMWORY Copy ip ANORM ET At- CASE No. CI-94-M5
CONSENT jUDGMNT DATED WM IN STATE OF ANNNESOTA, Er AL V. PH&
STATEXENT OF INTMWATIONAL
PROFIT CONTRIBUTION
WAY 1991
I-POLLASS IN THOVSANDS)
CURRENT MONTS
TSAR-TO-O&TE
VARIANCE
VARIANCE
LAST
ACTUAL
AMOUNT
DESCRIPTION
AMOUNT
ACTUAL
TEAR
3.062
s74
* z5.o%
zxpoimtcam VOLmEs
a 18.9%
* 3.477
14.949
16,457
2,753
00
3.0%
LICENSEE VOLUMES
2.7%
362
13.625
11,671
5,821
494
0 7.8%
TOTAL VOLUXES
a 9.1%
& 3,115
28,574
21.14S
.3.417
1. 20.654
* 16.6%
NET SAM VALUE
* 17.4%
* 56.205
266,600
271,796
27
;004:j
* 5.412
0.014
* 16.7%
VARIABLE KAROW
% OF lVT'L SALES
* 15.8%
* 2S.101
I.OQ
137,767
51.71
137.217
SO.5
10,316
* 71
& 0.6%
SPECIFIC BRAND
EXPENSE
2.5%
792
44.449
43.803
497
1.172
70.2%
SELLING COMMISSIONS/
ALLOWANCESAOSS ON
RZ*ORMS/?OXZIQM ZXCJ1C
72.1%
51980
2.317
342 1
2.549
12-8-
5.2%
LICENSEE INCOME
6.9%
850
13,132
10.921
11650
45
2.7% S
EIZING FIELD
4.8%
399
7sS19
6,937
17,130
4.144
* 19.3% R
EGIONAL COM.
a 16.5%
* 27.773
96.144
97.028
..--3,060
0
0.0% I
NT, L ZRAND 190T
O.Ork
0
94213
6,332
Sol
its
10.6% 0
"/*"=
10.2%
$47
4.122
4. 213
909
1
* 0.1% A
MONT Of TWZKWK
* 0.2%
0 10
4.530
4.54S
3
UK m
isc. (INC)/EZP
*1$4.0%
* is
5
24
12,110
4,027
23.3% I
NT'L PROFIT COW.R.
0 19.5%
* 17,251
77,504
12,023'
L 11.9%1
- 3.7%
%
1&
OF TOTAL DOMESTIC
INT'L CONTRIBUTION1
1.0%1
-2p. 0%1
29.5%1
NOTts AS ASTERISK INDICATES AN UNFAVORABLE VARIANCr. 'TEMPORUTO VARIANCSS
%Ayr Btu nclvDtD.
9&
co
C)
c:)
co
MIWAOTA DEPOSMORY Copy PMMCED PURSUAW TO W1.0. OF
B.A.T INDWMIES P-L-C@ V. pMXjp AkRn ET Al- CASE NO- C1 94 "US
ComENT JUDOMEW DATFO 5"s iN VATE OF sou ET AL. -
2999M ON
MHU71=101RAL P NUTION
UX 1991
International Profit Contribution of $12,180 is $4,027
unfavorable for the month. Year-to-date Profit Contribution of
$77,504 is $17,251 below budget. Major variances are outlined
below:
Variable Margin of $27,049 is $5,412 below budget due to a
$6,291 unfavorable volume/mix variance and a $879 favorable
rate variance. The volum*/mix variance is due largely to
below budgeted shipments of 574 Million units mainly in the
'Levant Group of 309 million units ($1,601), Singapore of
135 Million units ($1,293), Hong Kong of 92 million units
($1,067) and Japan of 62 million units ($1,174). The
favorable rate variance is due mainly to lower variable
manufacturing cost versus budget.
Ytar-to-date Variable Margin of $137,767 is $25,201 below
budget due to a $30,409 unfavorable volume/nix variance and
a $4,607 favorable rate vari&nce. The unfavorable
volume/nix variance is largely due to below budgeted
volumes of 3,477 million units mainly in the Levant Group
of 1,182 million units ($4,971), Singapore of 570 million
units ($5,795). Hong Kong of 427 million units ($5,083),
.7apan of 345 million units ($4,915), China of 307 Million
units ($2,974), Thailand of 159 million units ($2,002) and
The Zest Bloc of 209 million units ($1,736). The favorable
rate variance is due mainly to lower variable Manufacturing
cost versus budget.
Selling Comissions/kIlowances/Loss; an R*turns/For*iqn
Exchange are $1,172 favorable for the month and $5,980
favorable y"r-to-dato due to the following:
FoXeian Exchange is $535 favorable for the month and
$4,153 favorable year-to-date due mainly to timing of
gains associated with foreign *xch " a revaluations and
the recognition of a deferred gain from 1990. The
revaluation gains are partially offset in other
functional accounts.
Selling C22ni&a;U= are $1,129 favorable year to date due
mainly to below budget shipments mainly in Europe.
r1j
C:)
9
MINNOWA DEPOSITOW COpV _ pr4mcED pUFMANT To VILD. OF 5
B.A.T IMSMIES P-LC V, pmtp UORW& XT-AA@ CASE NO- C144-M
CONSENT juowmw DATED 518011 IN STATE OF At 50 ET AL - -
INTRR
NATIONAL SALS
O OVANT
IT22s
(21hyam mmwxz
MAT MI
r&
zxPORT, IWORT
VOL
MM ANALTS19)
CIORMT
AS=
CONNUT
VIRZANCE
_
czautrrrlg In JULL2002)
Dan=
Tin
A=N&
JAELUU
722.0
33.5
3S.0
DOL.1
43.$
42.2
32.4
136.3
- 92.3
- 5.6
- 91.9
2.7
- &35.2
0.1
CWWA
NOW xams
Saw Rom son
J"Ax
IM,
SXXGAPM
farlar
A" amn IpAg MAST
307.1
427.0
36::GO
33.5
$69.9
16.0
3.401.3
307.2
4.13ja:::
211.4
219.5
102.2
3. 103. 1
SS8.I
3. n=:
279.6
409.0
at.#
1.422.3
. 186.9
TOTAL VAR %ANT
1ns.$
9. Sao, v
6734
50.0
ILA
- 309.0
- 33.7
L4
Lrimm/igam" camp
SAUDI GM,
ALL OTM KTDLUTIAMM
XoI8213
96.0
0 14A
3,309.7
338.9
1&2
0
4,019.7
579.6
,
ALU
7se.4
0 332.9
TOTAL MWOLZ
0 1.293-9
3771.6
41931.8
34.4
34.6
125.9
41.0
JLU
- 29.9
3.1
83.4
- 3.1
. MA
ZUT Mae
rM=
URU& daw
gamy
AW&AZELAUM
200.5
3:S
14 a
21.1
JL4
131.1
151
3331
2773
310.7
259 2
394:4
3007.5
209.1
212.1
5.8
TOTAL rmtv
304.6
29.9
47.0
14.4
2.0
A"
9.9
4.9
39.3
5.1
ua
cnu no
GUAMU 4am
PARAOUT
629my
44.9
29.3
4.9
19.9
Ud
ISO.*
104.8
289.9
3.9
ULI
132.1
335.6
345.2
372.6
lH,&
228.2
45.1
Tom ANMCU
411-4
"S' 1
A
lM
L
--
A
.
6
32.0
AU
27.2
JLj
U.B. MUna DVUMS
ALL gnu 2.2.
Rtnum
45.7
Ll
247.4
196.4
-
1=
AnA
52.9
15.7
= U.S. OMUTIOM
40.3
418.5
374.6
. @
3.967.7
TOM VOLVAU
16.461.0
co
B.A.T IMMMES P.LC. - MMWLWTA DEPOWORY COPY PWWCSD PuRwAmT To VILD. OF
CotMNT juDGMEW DATEID 51&" im srATE oF MMmsoTA, ET AL v. FWXlP NORM IT CAsE No. CI-944US
201800121
":"W:g
A r.a 41 A
RIC
014 .1
W!4! w.I
of
" ""1"0
aa""P.;
41
no"
X :1 4" 6;
Is
Jill
HUMP
so"
A A f.
a w r. "-1 1.0 0 a a a La
o"'O
Woo"
0 @l
C!lI
n
EXPORTLEAFTOBA920
STATEMENT OF PROFIT CONTRIJIU71ON
MAY. 1991
(DOLLARS IN THOUSANDSi
C
URRENT MO
NTH
YEAR,-T
O-DATE
I CHANG
E FROM:
VAR
E
i
ACTUAL
I AMOUNT
I
DESCRIPTION
%
AMOUNT
ACTUAL
LAST YEAR
S-087
1 71916
lss.s
NET SALES POUNDS M
WONT 1
78.6
19.916
45"
$4.701
41W
496
SPECIAL ACCOUNTS
31.9
3.$48
15.101
6.1160
I.=
-
1.108
MJ
STOCKPILE
44.0
1.1513 1
4.948
14.1851
-
F
-
-
OTHER
1.9
26
I,S67
1,720
3.08=3
33M
22&1
TOTAL NET SALES - POUNDS
80.4
25.103
65,6831
WAS11
2.0112
73
3A
ET ULFS QQLLM
am
1105.6
51.6"
100.M
67.M
1."6
lim
-
I SPECIAL ACCOUNTS
36.1
IL756
48,044
17.7m
4.013
3A7'1
NILG I
STOCKPILE
45.6
4.911
15.491
1 43.152 1
- -
-
OTHER
6-5
293
4,1"
slon I
Cm
130.7
TOTAL NET SALES
69.4
$9,042
Iasi$
133
$40
$1141
V7.1
GROSS PROFIT ON SALES
3ILS
I.M
GA17
7.m
SELLING & ADMN. AND
107
47
19.3
OTHER (INCOME) A EXPENSE
6.0
so
ton
Ws
643
m
NIM
PROFIT CONTRIBUTION
52A
I.W
54115
6.835
INDIO' An savisk kxlmn an wftvmW wmpmm on ws pqw.
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NJ
NO
B.A."T INDUSTRIES P.Lc. - MONESOTA, DEPOSITORY COPY - PFAWCED PURWAlff TO VILD. OF
ip AWRm& ET CASE No. cl4m-ms
Cot=NT JUDGMENT DATED 500 IN STATE OF ONNESOTA, ET AL. V. PHILIP---
"P0,T "A' 811PP11 PAU11A
ACTUAL RESUL 07 DPFRATT
L 5ai4.a
a
(001. IS SANDS)
May's Profit Contribution was $665 greater than budget due to the following
variances:
Special Accounts gross profit was $146 favorable due to a timing variance on
sales of Maryland strips to Switzerland (S136) which was budgeted to occur in
June, 1991.
Stockpile Accounts gross profit was S541 favorable due primarily to in
unbudgeted sale of flue-cured products from dealer purchases to BAT UK&E
Mao).
Year-to-date Profit Contribution was S1,852 greater than budget due to the
following variances:
Special Accounts gross profit was $1,092 favorable due primarily to increased
sales volumes to Germany S(477) and Hong Kong (3361) of domestic burlay
products.
Stockpile Accounts gross profit was S927 favorable due primarily to realizing
$926 gross profit on unbudgeted sales to BAT UK&E.
r-j
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00
CD
CD
1*_j
r%j
IES p.LC. - MROMOTA DV`OSWOIW Copy pp,=cgo PUIRSLIANr TO I VILD. OF
B.A.T INDUSM . v. PmLp WNW$. ST-A" CASE NO, C144-85"
CONSENT juoGmW DATED 5/8190 IN STATE OF ET AL -
COMN19N OPERATING COSTS - MANUEaCTURINO
(DOLLARS IN THOUSANDS)
MAY. 1991
CURRE
NT MONTH
YEAR-TO-OATE
ACTUAL
VARIANCE
DESCRIPTION
VARIANCE
1ACTUAL
ILASTYEAR
11.177
559
OVERHEAD SPENDIING
2.797
$4,847
62.092
382
164
COST VARIANCES
351
$47
1.780
(420)
41
WENTORY ADJUSTMENTS
424
(17.556)
(10.313)
3.
109
DEPRECIATION, RENTS. ETC.
633.
17AS3
16.11IN
TOTAL COMMON OPERATNG
1
1
I
14.590
791
COST - MFa.
2.6541
55472
soj92
QVFRUFAD SPENDING was fa orable $5S9 for May and $2,797 for the year-to-date due
mainly to Macon manufacturing overhead. For the month and year-to-date, Macon
maintenance expense was S26S and $2,214 favorable, respectively, for the matt part
due to timing. Additionally, for the year-to-d&te, Macon indirect labor was $462
below budget due mainly to favorable training.
COST VART rJ were $164 favorable for the month du to labor ($305F), primarily
attributable to efficiencies, and favorable leaf lo:ses and yields ($247F).
Offsettirtthe favorable variances for the month was wrapping ($382U) mainly due to
prices. a ytar-to-date was $351 unfavorable due to I abor (S28W) and direct
materials (S34311), partially offset by favorable leaf losses and yields ($272F).
Labor was primarily impacted by higher manning in Fab 8 due to requiring additional
people for filter handling and hand casing resulting from overhaul and installation
activities. Direct materials was attributable to unfavorable price and label and
carton substitutions.
=14TORI ADJUMENTS were S424 unfavorable for the year-to-date. Variable
facturing cost standards were lower year-to-date resulting from lower than
budgeted direct material prices. Thus. existing finished goods were valued at the
lower standard cost, which created an unfavorable offset In inventory adjustments.
DEPUCTATION, RENTS, ETC, were $109 and $633 favorable for the month and
year-to-date. respectively, primarily due to depreciation and amortization ($154F -
month, $429F yoar-to-date) resulting from lower than budgeted caoltalizations. 7h*
year-to-date was also impacted by lower leaf storage expense (S195F).
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B.A.*T INDUSTRIES P.LC- - MININESOTA DEPOSITORY COPY - PAMCFD PURSUANT To VILD. OF
CONSENT JUDGMENT DATED WN IN STATE OF A0006SOTA, ErAL v. Pmtr MORRIM ErA CASE 140. C11-9441565
CIGARETTE PRODUCTION PER HOURLY MAN HOURS WORKED
300001 130000
28000
-
.
28000
DOMESTIC
20000
.
26000
A 24000
240,00
]
22000
22000
21DOOD . . . . . . . . . . . ... . . I I I . 1 20000
JFMAMJJASONDJFMAMJJASOND
voo I lool
CIGARETTE PRODUCTION
(DOMESTIC AND EXPORT)
10
10
.
9
.
3
TOML k
4
VoMMC
.
4
A
1
8
lix"n?
.
3
T
2
.
2
.... . . .
. . . .
JFMAMJJASCMDJFMAMJJASOND
on I ml
C)
-12-
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PWDIJCED puFmAoff To VILD. OF
B.A.T ImousmiES P.I-C. - MOVIEWTA DEPOSITORY COPY ETA" CASE 140- CI-944"5
COMEW JUDGMEW DATED &W N STATE OF A,*,-,,Tl ET AL V,
I".)
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-`4
I'lo
cm
BAT lNDusTaiEs P.Lc. - MmEsoTA DEpowroRy Copy - PRMCED PURSUANT To I VILD. oF
CoNsENT JuDowNT DATED 5/8/90 IN STATE oF A#NwsorA, Er AL v. Pmxp Alogan, rr CASE No. C14M4M5
COMMON OPERATING COSTS - OTHER
9=LUDING C.O.C. - MANUFACTURING
POLLARS IN THOUSANDS)
MAY, 1991
CURRE
NT MONTH
YE
AR-TO-D
ATE
ACTUAL
VARIANCE
DESCRIPTION
VARIANCE
jZffA-L
LASTYEAA
5.=
309
COMMON OPERATING COST - CORP.
2,670
24.W4
98560
2.504
109
PROFIT SHARING
9X$
5.742
5.817
244
OTHER (INCOME) & 00PENSE
389
I
(EXCLUDES INTEREST)
1
8.124
174 1
TOTAL BWT COMMON COST
5.4171
29.792
34.085
In RA ING COSTS - I RPO?ATE were favorable S2,670 year-to-date due mainly
to pavooralblie Legal Professional Fees, Damaged & Obsolete Haterials and Research
and Development expenses.
OTHER (11CON11 :0 InIlIffIS1 was favorable $369 for the year-to-date due mainly to
nt f a nsur
the settle* rance claim for the fire at the Antwerp warehouse.
NORT SHARING was favorable $2.378 year-to-date due to reduced Trading Profit.
-13-
cc
C=
BJLT INDLWMIES P.I-C. M114"OTA DEP09ffWY Copy PP4WCED PURSUANT To VILD. OF
CONSEHT jUDGMENT DATED SIM 114 SrATE OF AtKNESOTA, ST AL V- PUSE VORRAL 11 CAsE No. CI-94-MB
S E L L I N fi P R I C E C H A N G E A N N 0 U N C E K E N T S
(Dollars in Thousands)
PRIMARY
MOUTH DEPT. DESCRIPTION EFFECT ON 1991
REPORTED INVOLVED BUDGETED IffM
.1%nuary Marketing OW's domestic cigarette selling prices
increased S.10 per thouswW cigarettes
for all styles effective with shipments
on Friday, February 1, 1991.
March Marketing OW's domestic cigarette selling prices
increased effective 3:00 p.m., March
211 1991.
Kay Marketing OW's domestic cigarette selling prices
increased effective June 13, 1991.
Sao analysis on page 14
-14a-
B.A.T INIXXMIES P.Lr- MINNESOTA DOPOSITIM CM PR=cEiD PURSUANT To VII.D. OF
CONSENT JUDGMENT OATED 5/SM IN STATE OF UNNESCITA. Er AL V. pN&jp Akgm_ ET As- CASE No. C14M41565
SELLING PRICE CH"F ANNQUNCENENTS
(Dollars in Thousands)
may, 1991
BW announced the following Domestic cigarette selling price increases
effective Monday. June 10, 1991:
Amount of increase per I CloarittL 8 t
Announc Year-to-date udg* Increase
June S. 1991 Priem Incrgase Assumation July I
Full Revenue Kings &'Longs
S
1.75
$ 2.60
S 2.50
CAPRI 100's
S
3.25
S 4.10
S 2.50
RICHLAND 20's, VICEROY, and BELAIR LP
$
4.00
S 6.60
S 2.50
RICHLAND 25's
S
1.40
$ 2.08
S 2.50
GPC Approved Kings and Longs
$
1.25
$ 1.35
$ 2.50
RALEIGH Extra and BELAIR Extra Low Price
$
4.00
$ 7.10
S 2.50
(Maine test only)
The impact of the above price Increases on budgeted variable margin based an budgeted
volumes is estimated to be:
Margin
Full Revenue S 9,600
Low Price Branded 36.000
Extra Low Price 17,000
$44M&
However, the price increases In the domestic arketplace have increased competitive
promotional activity which in turn will increase coupon rates, thus partially offsetting
the margin Impacts noted above.
-14-
CO
B.A.T INDUSTRIES P.L.C. MINNESOTA DEPOSITORY CO" PRODUCED PURSUANT TO VILD. OF
CONSENT JUDWANT DATED 54W IN STATE OF A*NAESOTA4 ET AL v. PmxP Aidgm. ET AL CASE No. C14144W5
rl-j
00
c:)
LN
B.A.T INDUSTRIES P.LC. - MINNESOTA DEPOSITORY COPY - PmwcEo PURSUANT To I VILD. OF
CONSENT JUDGMENT DATED SAM IN SrATEoFAIWAiEsou, ErAL v. PmxpUoggx, ErA CASENO.Cl-944W5
C)
co
C:@
C)
-@4
B.A.T INDusmas P.LC. MINNEWTA DEposrroRy COPY PWWCED PuRsuANT To VILD. oF
CoNsENT JuoomENT DATED SIVOIS IN SrATE oF MMmsoTA, ET AL v. PHxv Akngm ET AL CAsE No. C14M4015