1) The cumulative total return assumes reinvestment of dividends.
(2) The total return is weighted according to market capitalization of each company at the beginning of each year.
(f) Purchases of Equity Securities by the Issuer and Affiliated Purchasers We have not repurchased any of our common stock since the Company filed its initial registration statement on March 16, 2011.
(g) Securities Authorized for Issuance Under Equity Compensation Plans A description of securities authorized for issuance under our equity compensation plans will be incorporated herein by reference to the Proxy Statement for the 2012 Annual Meeting of Stockholders to be filed within 120 days after the end of the Company’s fiscal year.
ITEM 6.
SELECTED FINANCIAL DATA
## Table 0 ##
(1) Long-term debt does not include amounts payable to our former parent as of and before December 31, 2010, as these amounts were due upon demand and included in current liabilities.
(2) Free cash flow is a non-GAAP financial measure and represents cash from operating activities less capital expenditures.
See Liquidity and Capital Resources in Item 7 for more information on this measure.
distribution channels), the level of required maintenance expenditures, and the expected lives of other related groups of assets.
At December 30, 2006, intangible assets, net, were $4.9 billion, consisting primarily of goodwill and trademarks associated with the 2001 acquisition of Keebler Foods Company.
Within this total, approximately $1.4 billion of non-goodwill intangible assets were classified as indefinitelived, comprised principally of Keebler trademarks.
While we currently believe that the fair value of all of our intangibles exceeds carrying value and that those intangibles so classified will contribute indefinitely to the cash flows of the Company, materially different assumptions regarding future performance of our North American snacks business or the weighted-average cost of capital used in the valuations could result in significant impairment losses and/or amortization expense.
Stock compensation In December 2004, the FASB issued SFAS No.123(R) “ShareBased Payment,” which generally requires public companies to measure the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value and to recognize this cost over the requisite service period.
We adopted SFAS No.123(R) as of the beginning of our 2006 fiscal year, using the modified prospective method.
Accordingly, prior years were not restated, but our 2006 results include compensation expense associated with unvested equity-based awards, which were granted prior to 2006.
With the adoption of this pronouncement, stock-based compensation represents a critical accounting policy of the Company, which is further described in Note 1 within Notes to the Consolidated Financial Statements.
For 2006, our adoption of SFAS No.123(R) has resulted in an increase in the Company’s corporate SGA expense and a corresponding reduction to earnings and net earnings per share, due primarily to recognition of compensation expense associated with employee and director stock option grants.
No such expense was recognized under our previous accounting method in pre-2006 periods; however, we were required to disclose pro forma results under the alternate fair value method prescribed by SFAS No.123 “Accounting for Stock-Based Compensation.
” Using reported results for 2006 and pro forma results for 2005, the comparable impact of stock compensation expense is presented in the following table:
## Table 1 ##
As illustrated in the preceding table, the pro forma incremental impact of stock compensation was $.09 per share for 2005 versus an $.11 impact of adopting SFAS No.123(R) in 2006.
The $.02 year-over-year increase in the per-share impact is due principally to an increase in the number of options granted during 2006 and a lower average number of shares outstanding on which the calculation is based.
As explained in the following paragraphs, the amount of stock compensation recognized for any particular year is highly dependent on market conditions and other factors outside of our control.
Based on historical patterns and predicted market conditions existing at December 30, 2006, we currently expect the 2007 earnings per share impact of stock option expense to be within the range of actual 2005 and 2006 results.
Accounting for stock compensation under SFAS No.123(R) represents a critical accounting estimate, which requires significant judgments and assumptions likely to have a material impact on our financial statements.
Due to the need to determine the grant-date fair value of equity instruments that have not yet been awarded, the actual impact on future results will depend, in part, on actual awards during any reporting period and various market factors that affect the fair value of those awards.
Additionally, while the timing and volume of grants associated with a particular year’s long-term incentive compensation are within our control, the timing and volume of “reload” option grants are not.
Reload options are awarded to eligible employees and directors to replace previously-owned Company stock used by those individuals to pay the exercise price, including related employment taxes, of vested pre-2004 option awards containing this accelerated ownership feature.
Under SFAS No.123(R), these reload options result in additional compensation expense in the year of grant and for 2006, represented approximately onethird of the Company’s total stock option expense.
The
Note 2 Acquisitions, other investments, and intangibles Acquisitions In order to support the continued growth of its North American fruit snacks business, the Company completed two separate business acquisitions during 2005 for a total of approximately $50 million in cash, including related transaction costs.
In June 2005, the Company acquired a fruit snacks manufacturing facility and related assets from Kraft Foods Inc.
The facility is located in Chicago, Illinois and employs approximately 400 active hourly and salaried employees.
In November 2005, the Company acquired substantially all of the assets and certain liabilities of a Washington State-based manufacturer of natural and organic fruit snacks.
Assets, liabilities, and results of the acquired businesses have been included in the Company’s consolidated financial statements since the respective dates of acquisition.
The combined purchase price for both transactions was allocated to property ($22 million); goodwill and other indefinite-lived intangibles ($16 million); and inventory and other working capital ($12 million).
Joint venture arrangement In early 2006, a subsidiary of the Company formed a joint venture with a third-party company domiciled in Turkey, for the purpose of selling co-branded products in the surrounding region.
As of December 30, 2006, the Company had contributed approximately $3.5 million in cash for a 50% equity interest in this arrangement.
The Turkish joint venture is reflected in the consolidated financial statements on the equity basis of accounting.
Accordingly, the Company records its share of the earnings or loss from this arrangement as well as other direct transactions with or on behalf of the joint venture entity such as product sales and certain administrative expenses.
Summary financial information for one hundred percent of the joint venture is as follows:
## Table 2 ##
Goodwill and other intangible assets For 2004, the Company recorded in selling, general, and administrative expense impairment losses of $10.4 million to write off the remaining carrying value of a $7.9 million contract-based intangible asset in North America and $2.5 million of goodwill in Latin America.
For the periods presented, the Company’s intangible assets consisted of the following:
## Table 3 ##
(a) The currently estimated aggregate amortization expense for each of the four succeeding fiscal years is approximately $1.5 per year and $1.1 for the fifth succeeding fiscal year.
## Table 4 ##
(a) The Company adopted SFAS No.158 “Employers’ Accounting for Defined Benefit Pension and Other Postretirement Plans” as of the end of its 2006 fiscal year.
The standard generally requires company plan sponsors to reflect the net over- or under-funded position of a defined postretirement benefit plan as an asset or liability on the balance sheet.
Accordingly, the pension-related intangible included in the preceding table for 2005 was eliminated by the adoption of this standard.
Refer to Note 1 for further information.
## Table 5 ##
(a) Includes Australia and Asia.
(b) Relates principally to the recognition of an acquired tax benefit arising from the purchase of Keebler Foods Company in 2001.

<table><tr><td></td><td>Year Ended December 31</td></tr><tr><td>($ in millions, except per share amounts)</td><td>2011</td><td>2010</td><td>2009</td><td>2008</td><td>2007</td></tr><tr><td>Sales and Service Revenues</td><td>$6,575</td><td>$6,723</td><td>$6,292</td><td>$6,189</td><td>$5,692</td></tr><tr><td>Goodwill Impairment</td><td>290</td><td>0</td><td>0</td><td>2,490</td><td>0</td></tr><tr><td>Operating income (loss)</td><td>110</td><td>248</td><td>211</td><td>-2,354</td><td>447</td></tr><tr><td>Net earnings (loss)</td><td>-94</td><td>135</td><td>124</td><td>-2,420</td><td>276</td></tr><tr><td>Total assets</td><td>6,001</td><td>5,203</td><td>5,036</td><td>4,760</td><td>7,658</td></tr><tr><td>Long-term debt -1</td><td>1,830</td><td>105</td><td>283</td><td>283</td><td>283</td></tr><tr><td>Total long-term obligations</td><td>3,757</td><td>1,559</td><td>1,645</td><td>1,761</td><td>1,790</td></tr><tr><td>Free cash flow -2</td><td>331</td><td>168</td><td>-269</td><td>121</td><td>364</td></tr><tr><td>Basic earnings (loss) per share</td><td>$-1.93</td><td>$2.77</td><td>$2.54</td><td>$-49.61</td><td>$5.65</td></tr><tr><td>Diluted earnings (loss) per share</td><td>$-1.93</td><td>$2.77</td><td>$2.54</td><td>$-49.61</td><td>$5.65</td></tr></table>
<table><tr><td></td><td colspan="2">Stock-based  compensation expense</td><td>Diluted EPS </td></tr><tr><td>(millions, except per share data)</td><td>Pre-tax</td><td>Net of tax</td><td>impact</td></tr><tr><td> 2006:</td><td></td><td></td><td></td></tr><tr><td>As reported comparable</td><td>$30.3</td><td>$19.3</td><td>$.04</td></tr><tr><td>SFAS No. 123(R) adoption impact</td><td>65.4</td><td>42.4</td><td>.11</td></tr><tr><td>As reported total</td><td>$95.7</td><td>$61.7</td><td>$.15</td></tr><tr><td> 2005:</td><td></td><td></td><td></td></tr><tr><td>As reported comparable</td><td>$18.5</td><td>$11.8</td><td>$.03</td></tr><tr><td>Pro forma incremental</td><td>57.9</td><td>36.9</td><td>.09</td></tr><tr><td>Pro forma total</td><td>$76.4</td><td>$48.7</td><td>$.12</td></tr></table>
<table><tr><td>(millions)</td><td>2006</td></tr><tr><td>Net sales</td><td>$6.0</td></tr><tr><td>Gross profit</td><td>1.9</td></tr><tr><td>Net earnings (loss)</td><td>-1.9</td></tr><tr><td>Current assets</td><td>5.9</td></tr><tr><td>Noncurrent assets</td><td>—</td></tr><tr><td>Current liabilities</td><td>1.3</td></tr><tr><td>Noncurrent liabilities</td><td>—</td></tr></table>
<table><tr><td>(millions)</td><td colspan="2">Gross carrying  amount</td><td colspan="2">Accumulated  amortization</td></tr><tr><td></td><td> 2006</td><td>2005</td><td> 2006</td><td>2005</td></tr><tr><td>Trademarks</td><td>$29.5</td><td>$29.5</td><td>$21.6</td><td>$20.5</td></tr><tr><td>Other</td><td>29.1</td><td>29.1</td><td>27.5</td><td>27.1</td></tr><tr><td>Total</td><td>$58.6</td><td>$58.6</td><td>$49.1</td><td>$47.6</td></tr></table>
<table><tr><td>(millions)</td><td colspan="2">Total carrying amount</td></tr><tr><td></td><td> 2006</td><td>2005</td></tr><tr><td>Trademarks</td><td>$1,410.2</td><td>$1,410.2</td></tr><tr><td>Pension (a)</td><td>—</td><td>17.0</td></tr><tr><td>Total</td><td>$1,410.2</td><td>$1,427.2</td></tr></table>
<table><tr><td></td><td></td><td></td><td></td><td>Asia </td><td></td></tr><tr><td></td><td rowspan="2">United  States</td><td></td><td rowspan="2">Latin  America(a)</td><td>Pacific </td><td rowspan="2">Consoli-  dated</td></tr><tr><td>(millions)</td><td>Europe</td><td></td></tr><tr><td>January 1, 2005</td><td>$3,443.3</td><td>—</td><td>—</td><td>$2.2</td><td>$3,445.5</td></tr><tr><td>Acquisitions</td><td>10.2</td><td>—</td><td>—</td><td>—</td><td>10.2</td></tr><tr><td>Other</td><td>-.3</td><td>—</td><td>—</td><td>-.1</td><td>-.4</td></tr><tr><td>December 31, 2005</td><td>$3,453.2</td><td>—</td><td>—</td><td>$2.1</td><td>$3,455.3</td></tr><tr><td>Purchase accounting adjustments (b)</td><td>-7.0</td><td> —</td><td> —</td><td>—</td><td>-7.0</td></tr><tr><td>Other</td><td>-.1</td><td> —</td><td> —</td><td>.1</td><td>—</td></tr><tr><td> December 30, 2006</td><td>$3,446.1</td><td> —</td><td> —</td><td>$2.2</td><td>$3,448.3</td></tr></table>

Question: How many Consoli- dated exceed the average of Consoli- dated in 2005?
Answer: 1