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Basis of Presentation and Our Divisions (Tables)

8 Months Ended

Sep. 06, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Segment Reporting Information, by Segment

Net Revenue, Significant Expenses and Operating Profit by Segment

			12 Weeks Ended 9/6/2025
			PFNA						PBNA						IB Franchise						EMEA						LatAm Foods						Asia Pacific Foods						Total
Net revenue			$	6,526					$	7,327					$	1,291					$	5,022					$	2,656					$	1,115					$	23,937
Segment cost of sales (a)			2,557						3,407						405						2,864						1,134						666
Segment selling, general and administrative expenses (a)			2,399						2,945						375						1,350						999						293
Restructuring and impairment charges (b)			32						19						2						69						17						5
Acquisition and divestiture-related charges (c)			2						219						—						—						—						—
Impairment and other charges (d)			—						8						73						19						—						—
Indirect and income tax impact (e)			—						—						—						—						82						—
Segment operating profit			$	1,536					$	729					$	436					$	720					$	424					$	151					$	3,996
Corporate unallocated expenses																																							(427)
Operating profit																																							3,569
Other pension and retiree medical benefits income																																							26
Net interest expense and other																																							(264)
Income before income taxes																																							$	3,331

			12 Weeks Ended 9/7/2024
			PFNA						PBNA						IB Franchise						EMEA						LatAm Foods						Asia Pacific Foods						Total
Net revenue			$	6,536					$	7,175					$	1,290					$	4,612					$	2,615					$	1,091					$	23,319
Segment cost of sales (a)			2,489						3,188						386						2,578						1,092						635
Segment selling, general and administrative expenses (a)			2,420						2,940						431						1,276						1,032						325
Restructuring and impairment charges (b)			8						128						15						35						11						2
Acquisition and divestiture-related charges (c)			—						5						—						—						—						—
Impairment and other charges			—						—						—						10						—						—
Product recall-related impact			(1)						—						—						—						—						—
Segment operating profit			$	1,620					$	914					$	458					$	713					$	480					$	129					$	4,314
Corporate unallocated expenses																																							(442)
Operating profit																																							3,872
Other pension and retiree medical benefits income																																							41
Net interest expense and other																																							(219)
Income before income taxes																																							$	3,694

			36 Weeks Ended 9/6/2025
			PFNA						PBNA						IB Franchise						EMEA						LatAm Foods						Asia Pacific Foods						Total
Net revenue			$	19,215					$	19,999					$	3,418					$	11,946					$	6,865					$	3,139					$	64,582
Segment cost of sales (a)			7,376						9,056						1,017						6,909						2,906						1,905
Segment selling, general and administrative expenses (a)			7,206						8,379						1,073						3,339						2,540						824
Restructuring and impairment charges (b)			147						192						7						118						36						9
Acquisition and divestiture-related charges (c)			23						285						—						—						—						—
Impairment and other charges (d)			—						1,537						73						270						—						80
Indirect and income tax impact (e)			—						—						—						—						82						—
Segment operating profit			$	4,463					$	550					$	1,248					$	1,310					$	1,301					$	321					$	9,193
Corporate unallocated expenses																																							(1,252)
Operating profit																																							7,941
Other pension and retiree medical benefits income																																							91
Net interest expense and other																																							(788)
Income before income taxes																																							$	7,244

			36 Weeks Ended 9/7/2024
			PFNA						PBNA						IB Franchise						EMEA						LatAm Foods						Asia Pacific Foods						Total
Net revenue			$	19,240					$	19,860					$	3,355					$	11,228					$	7,254					$	3,133					$	64,070
Segment cost of sales (a)			7,091						8,993						1,003						6,455						3,002						1,842
Segment selling, general and administrative expenses (a)			7,119						8,306						1,116						3,179						2,784						878
Restructuring and impairment charges (b)			47						143						15						75						32						6
Acquisition and divestiture-related charges (c)			—						7						—						—						—						—
Impairment and other charges			—						—						—						10						—						—
Product recall-related impact (f)			181						—						—						—						—						—
Segment operating profit			$	4,802					$	2,411					$	1,221					$	1,509					$	1,436					$	407					$	11,786
Corporate unallocated expenses (g)																																							(1,149)
Operating profit																																							10,637
Other pension and retiree medical benefits income																																							155
Net interest expense and other																																							(655)
Income before income taxes																																							$	10,137

(a)Does not include items recorded in the cost of sales or selling, general and administrative expenses lines on our income statement that are presented in the restructuring and impairment charges, acquisition and divestiture-related charges, impairment and other charges, indirect and income tax impact and product recall-related impact lines of these tables.

(b)See Note 3 for further information related to restructuring and impairment charges.

(c)See Note 12 for further information related to acquisitions and divestiture-related charges.

(d)In the 12 weeks ended September 6, 2025, we recorded pre-tax charges of $100 million ($92 million after tax or $0.07 per share), primarily related to the impairment of the Rockstar brand in our IB Franchise and PBNA segments, with $83 million recorded in impairment of intangible assets and $17 million recorded in selling, general and administrative expenses. In the 36 weeks ended September 6, 2025, we recorded pre-tax charges of $1,960 million ($1,539 million after-tax or $1.12 per share), primarily related to the impairment of the Rockstar brand in our PBNA, EMEA and IB Franchise segments and the Be & Cheery brand in our Asia Pacific Foods segment, with $1,943 million recorded in impairment of intangible assets and $17 million recorded in selling, general and administrative expenses. See Note 4 for further information.

(e)In the 12 and 36 weeks ended September 6, 2025, we recorded a pre-tax charge of $82 million in selling, general and administrative expenses and income tax expense of $47 million in provision for income taxes (collectively, $0.09 per share) related to an indirect and income tax audit settlement in our LatAm Foods segment.

(f)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 PFNA segment (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.

(g)In the 36 weeks ended September 7, 2024, we recorded a pre-tax gain of $76 million ($57 million after-tax or $0.04 per share) in selling, general and administrative expenses as a result of the sale of a corporate asset.

Summary of Segment Reporting Information by Percentage of Disaggregated Net Revenue

Disaggregation of 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:

			12 Weeks Ended
			9/6/2025												9/7/2024
			Beverages(a)						Convenient Foods						Beverages(a)						Convenient Foods
North America			53		%				47		%				52		%				48		%
International (b)			33		%				67		%				32		%				68		%
PepsiCo			45		%				55		%				44		%				56		%

			36 Weeks Ended
			9/6/2025												9/7/2024
			Beverages(a)						Convenient Foods						Beverages(a)						Convenient Foods
North America			51		%				49		%				51		%				49		%
International (b)			32		%				68		%				30		%				70		%
PepsiCo			43		%				57		%				43		%				57		%

(a)Beverage revenue from company-owned bottlers, which includes our consolidated bottling operations in our PBNA and EMEA segments, was 38% and 37% of our consolidated net revenue in the 12 and 36 weeks ended September 6, 2025, respectively, and 37% and 36% of our consolidated net revenue in the 12 and 36 weeks ended September 7, 2024, respectively. Generally, our finished goods beverage operations produce higher net revenue but lower operating margins as compared to concentrate sold to authorized bottling partners for the manufacture of finished goods beverages.

(b)Beverage and convenient foods revenue generated from our EMEA segment was 41% and 59% of EMEA net revenue, respectively, in the 12 weeks ended September 6, 2025, 38% and 62% of EMEA net revenue, respectively, in the 36 weeks ended September 6, 2025, 39% and 61% of EMEA net revenue, respectively, in the 12 weeks ended September 7, 2024 and 36% and 64% of EMEA net revenue, respectively, in the 36 weeks ended September 7, 2024.

Schedule Of Segment Reporting Information By Capital Spending, Amortization Of Intangible Assets And Depreciation And Other Amortization

Other Segment Information

Capital spending, amortization of intangible assets, and depreciation and other amortization of each segment are as follows:

			12 Weeks Ended
			Capital Spending(a)												Amortization of  Intangible Assets												Depreciation and Other Amortization
			9/6/2025						9/7/2024						9/6/2025						9/7/2024						9/6/2025						9/7/2024
PFNA			$	220					$	253					$	4					$	2					$	233					$	190
PBNA			278						313						7						5						229						234
IB Franchise			31						33						4						4						25						24
EMEA			167						189						4						4						138						117
LatAm Foods			178						207						—						—						105						96
Asia Pacific Foods			60						96						2						2						36						32
Total segment			934						1,091						21						17						766						693
Corporate			58						58						—						—						37						29
Total			$	992					$	1,149					$	21					$	17					$	803					$	722

			36 Weeks Ended
			Capital Spending(a)												Amortization of  Intangible Assets												Depreciation and Other Amortization
			9/6/2025						9/7/2024						9/6/2025						9/7/2024						9/6/2025						9/7/2024
PFNA			$	645					$	788					$	12					$	8					$	665					$	564
PBNA			809						791						17						15						713						713
IB Franchise			77						77						11						11						64						61
EMEA			354						436						10						11						348						303
LatAm Foods			339						413						1						1						266						262
Asia Pacific Foods			152						167						5						5						94						81
Total segment			2,376						2,672						56						51						2,150						1,984
Corporate			123						178						—						—						109						83
Total			$	2,499					$	2,850					$	56					$	51					$	2,259					$	2,067

(a) Asset and other balance sheet information for segments is not provided to our chief operating decision maker.

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Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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