XML 37 R25.htm IDEA: XBRL DOCUMENT
v3.24.3

Basis of Presentation and Our Divisions (Tables) | 8 Months Ended
--- | ---
Sep. 07, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Summary of Segment Reporting Information By Net Revenue | Net revenue of each division is as follows:
| 12 Weeks Ended |  | 36 Weeks Ended
| 9/7/2024 |  | 9/9/2023 |  | 9/7/2024 |  | 9/9/2023
FLNA | $ | 5,888 |  |  | $ | 5,954 |  |  | $ | 17,438 |  |  | $ | 17,441 |
QFNA | 648 |  |  | 747 |  |  | 1,802 |  |  | 2,208 |
PBNA | 7,175 |  |  | 7,161 |  |  | 19,860 |  |  | 19,714 |
LatAm | 2,915 |  |  | 3,055 |  |  | 8,027 |  |  | 7,688 |
Europe | 3,946 |  |  | 3,704 |  |  | 9,397 |  |  | 9,018 |
AMESA | 1,552 |  |  | 1,615 |  |  | 4,184 |  |  | 4,202 |
APAC | 1,195 |  |  | 1,217 |  |  | 3,362 |  |  | 3,350 |
Total | $ | 23,319 |  |  | $ | 23,453 |  |  | $ | 64,070 |  |  | $ | 63,621 |
Summary of Segment Reporting Information by Percentage of Disaggregated Net Revenue | Our primary performance obligation is the distribution and sales of beverage and convenient food products to our customers. The following tables reflect the percentage of net revenue generated between our beverage business and our convenient food business for each of our international divisions, as well as our consolidated net revenue:
| 12 Weeks Ended
| 9/7/2024 |  | 9/9/2023
| Beverages(a) |  | Convenient Foods |  | Beverages(a) |  | Convenient Foods
LatAm | 10 | % |  | 90 | % |  | 10 | % |  | 90 | %
Europe | 51 | % |  | 49 | % |  | 50 | % |  | 50 | %
AMESA | 31 | % |  | 69 | % |  | 31 | % |  | 69 | %
APAC | 26 | % |  | 74 | % |  | 27 | % |  | 73 | %
PepsiCo | 44 | % |  | 56 | % |  | 43 | % |  | 57 | %
| 36 Weeks Ended
| 9/7/2024 |  | 9/9/2023
| Beverages(a) |  | Convenient Foods |  | Beverages(a) |  | Convenient Foods
LatAm | 10 | % |  | 90 | % |  | 9 | % |  | 91 | %
Europe | 48 | % |  | 52 | % |  | 49 | % |  | 51 | %
AMESA | 32 | % |  | 68 | % |  | 31 | % |  | 69 | %
APAC | 23 | % |  | 77 | % |  | 23 | % |  | 77 | %
PepsiCo | 43 | % |  | 57 | % |  | 42 | % |  | 58 | %
(a)Beverage revenue from company-owned bottlers, which primarily includes our consolidated bottling operations in our PBNA and Europe divisions, was 37% and 36% of our consolidated net revenue in the 12 and 36 weeks ended September 7, 2024, respectively, and 36% of our consolidated net revenue in the 12 and 36 weeks ended September 9, 2023. Generally, our finished goods beverage operations produce higher net revenue but lower operating margin as compared to concentrate sold to authorized bottling partners for the manufacture of finished goods beverages.
Summary of Segment Reporting Information by Operating Profit | Operating profit of each division is as follows:
| 12 Weeks Ended |  | 36 Weeks Ended
| 9/7/2024 |  | 9/9/2023 |  | 9/7/2024 |  | 9/9/2023
FLNA | $ | 1,523 |  |  | $ | 1,669 |  |  | $ | 4,669 |  |  | $ | 4,915 |
QFNA (a) | 97 |  |  | 135 |  |  | 133 |  |  | 452 |
PBNA (b) | 914 |  |  | 970 |  |  | 2,411 |  |  | 2,176 |
LatAm | 595 |  |  | 593 |  |  | 1,717 |  |  | 1,549 |
Europe | 728 |  |  | 659 |  |  | 1,550 |  |  | 1,206 |
AMESA | 197 |  |  | 238 |  |  | 590 |  |  | 656 |
APAC | 262 |  |  | 239 |  |  | 718 |  |  | 689 |
Total divisions | 4,316 |  |  | 4,503 |  |  | 11,788 |  |  | 11,643 |
Corporate unallocated expenses (c) | (444) |  |  | (488) |  |  | (1,151) |  |  | (1,340) |
Total | $ | 3,872 |  |  | $ | 4,015 |  |  | $ | 10,637 |  |  | $ | 10,303 |
(a)In the 36 weeks ended September 7, 2024, we recorded a pre-tax charge of $184 million ($141 million after-tax or $0.10 per share) associated with a previously announced voluntary recall of certain bars and cereals in our QFNA division (Quaker Recall) with $174 million recorded in cost of sales related to property, plant and equipment write-offs, employee severance costs and other costs, $7 million recorded in selling, general and administrative expenses and $3 million recorded in other pension and retiree medical benefits income, which is not included in operating profit. (b)In the 36 weeks ended September 9, 2023, we recorded our proportionate 39% share of Tropicana Brands Group’s (TBG) impairment of indefinite-lived intangible assets, and recorded an other-than-temporary impairment of our equity method investment, both of which resulted in pre-tax impairment charges of $113 million ($86 million after-tax or $0.06 per share), recorded in selling, general and administrative expenses. See Note 9 for further information. (c)In the 36 weeks ended September 7, 2024 and September 9, 2023, we recorded a pre-tax gain of $76 million ($57 million after-tax or $0.04 per share) and $85 million ($65 million after-tax or $0.05 per share), respectively, in selling, general and administrative expenses as a result of the sale of corporate assets.

X
- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-5 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfRevenueFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration