Using an Internet search tool, locate Procter & Gamble's investor relations web site. Under Financial Reporting, you

Question:

Using an Internet search tool, locate Procter & Gamble's investor relations web site. Under "Financial Reporting," you will find the company's 2009 annual report. In Note 11 of the 2009 annual report, you will find financials by segment. What are the operating margins by segment? Based on operating margins by segment, should Procter & Gamble be valued as a whole, or should individual segments be valued separately?