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Restructuring and Impairment Charges | 8 Months Ended
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Sep. 06, 2025
Restructuring and Related Activities [Abstract] |
Restructuring and Impairment Charges | Restructuring and Impairment Charges 2019 Multi-Year Productivity Plan (2019 Productivity Plan) The 2019 Productivity Plan leverages new technology and business models to further simplify, harmonize and automate processes; re-engineers our go-to-market and information systems, including deploying the right automation for each market; and simplifies our organization and optimizes our manufacturing and supply chain footprint. To build on the successful implementation of the 2019 Productivity Plan, in 2024, we further expanded and extended the plan through the end of 2030 to take advantage of additional opportunities within the initiatives described above. As a result, we expect to incur pre-tax charges of approximately $6.15 billion, including cash expenditures of approximately $5.1 billion. These pre-tax charges are expected to consist of approximately 50% of severance and other employee-related costs, 10% for asset impairments (all non-cash) resulting from plant closures and related actions, and 40% for other costs associated with the implementation of our initiatives. The total plan pre-tax charges are expected to be incurred by segment approximately as follows:
| PFNA |  | PBNA |  | IB Franchise |  | EMEA |  | LatAm Foods |  | Asia Pacific Foods |  | Corporate
Expected pre-tax charges | 20 | % |  | 25 | % |  | 2 | % |  | 25 | % |  | 10 | % |  | 3 | % |  | 15 | %
A summary of our 2019 Productivity Plan charges is as follows:
| 12 Weeks Ended |  | 36 Weeks Ended
| 9/6/2025 |  | 9/7/2024 |  | 9/6/2025 |  | 9/7/2024
Cost of sales | $ | 16 |  |  | $ | 10 |  |  | $ | 119 |  |  | $ | 16 |
Selling, general and administrative expenses | 126 |  |  | 214 |  |  | 435 |  |  | 363 |
Impairment of intangible assets | — |  |  | 14 |  |  | — |  |  | 14 |
Other pension and retiree medical benefits (income)/expense (a) | (1) |  |  | 7 |  |  | 13 |  |  | 22 |
Total restructuring and impairment charges | $ | 141 |  |  | $ | 245 |  |  | $ | 567 |  |  | $ | 415 |
After-tax amount | $ | 116 |  |  | $ | 195 |  |  | $ | 467 |  |  | $ | 325 |
Impact on net income attributable to PepsiCo per common share | $ | (0.08) |  |  | $ | (0.14) |  |  | $ | (0.34) |  |  | $ | (0.24) |
| 12 Weeks Ended |  | 36 Weeks Ended |  | Plan-to-Date
| 9/6/2025 |  | 9/7/2024 |  | 9/6/2025 |  | 9/7/2024 |  | through 9/6/2025
PFNA | $ | 32 |  |  | $ | 8 |  |  | $ | 147 |  |  | $ | 47 |  |  | $ | 579 |
PBNA | 19 |  |  | 128 |  |  | 192 |  |  | 143 |  |  | 697 |
IB Franchise | 2 |  |  | 15 |  |  | 7 |  |  | 15 |  |  | 58 |
EMEA | 69 |  |  | 35 |  |  | 118 |  |  | 75 |  |  | 879 |
LatAm Foods | 17 |  |  | 11 |  |  | 36 |  |  | 32 |  |  | 283 |
Asia Pacific Foods | 5 |  |  | 2 |  |  | 9 |  |  | 6 |  |  | 96 |
Corporate (a) | (2) |  |  | 39 |  |  | 45 |  |  | 75 |  |  | 463 |
| 142 |  |  | 238 |  |  | 554 |  |  | 393 |  |  | 3,055 |
Other pension and retiree medical benefits (income)/expense (a) | (1) |  |  | 7 |  |  | 13 |  |  | 22 |  |  | 139 |
Total | $ | 141 |  |  | $ | 245 |  |  | $ | 567 |  |  | $ | 415 |  |  | $ | 3,194 |
(a)Income amount represents adjustments for changes in estimates of previously recorded amounts.
| 12 Weeks Ended |  | 36 Weeks Ended |  | Plan-to-Date
| 9/6/2025 |  | 9/7/2024 |  | 9/6/2025 |  | 9/7/2024 |  | through 9/6/2025
Severance and other employee costs | $ | 46 |  |  | $ | 151 |  |  | $ | 168 |  |  | $ | 233 |  |  | $ | 1,602 |
Asset impairments | 22 |  |  | 30 |  |  | 109 |  |  | 34 |  |  | 415 |
Other costs | 73 |  |  | 64 |  |  | 290 |  |  | 148 |  |  | 1,177 |
Total | $ | 141 |  |  | $ | 245 |  |  | $ | 567 |  |  | $ | 415 |  |  | $ | 3,194 |
Severance and other employee costs primarily include severance and other termination benefits, as well as voluntary separation arrangements. Other costs primarily include costs associated with the implementation of our initiatives, including contract termination costs, consulting and other professional fees. A summary of our 2019 Productivity Plan activity for the 36 weeks ended September 6, 2025 is as follows:
| Severance and Other Employee Costs |  | Asset Impairments |  | Other Costs |  | Total
Liability as of December 28, 2024 | $ | 338 |  |  | $ | — |  |  | $ | 26 |  |  | $ | 364 |
2025 restructuring charges | 168 |  |  | 109 |  |  | 290 |  |  | 567 |
Cash payments (a) | (245) |  |  | — |  |  | (309) |  |  | (554) |
Non-cash charges and translation | (1) |  |  | (109) |  |  | (1) |  |  | (111) |
Liability as of September 6, 2025 | $ | 260 |  |  | $ | — |  |  | $ | 6 |  |  | $ | 266 |
(a)Excludes cash expenditures of $8 million reported in the cash flow statement in pension and retiree medical contributions. The majority of the restructuring accrual at September 6, 2025 is expected to be paid within a year. Other Productivity Initiatives There were no material charges related to other productivity and efficiency initiatives outside the scope of the 2019 Productivity Plan. We regularly evaluate different productivity initiatives beyond the productivity plan and other initiatives described above. For information on additional impairment charges, see Notes 1 and 4 for impairment and other charges taken primarily related to the impairments of the Rockstar and Be & Cheery brands.

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- Definition The entire disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. + References No definition available. + Details
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