Basis of Presentation and Our Divisions (Tables)

6 Months Ended

Jun. 13, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Net Revenue, Significant Expenses and Operating Profit/(Loss) by Segment


	12 Weeks Ended 6/13/2026
	PFNA		PBNA		IB Franchise		EMEA		LatAm Foods		Asia Pacific Foods		Total
Net revenue	$	6,368	$	7,243	$	1,523	$	4,983	$	2,940	$	1,124	$	24,181
Segment cost of sales (a)	2,498		3,420		437		2,839		1,179		690
Segment selling, general and administrative expenses (a)	2,501		2,831		448		1,377		1,141		300
Restructuring and impairment charges (b)	26		(15)		1		16		4		7
Acquisition and divestiture-related charges/credits (c)	1		(46)		—		—		—		—


Segment operating profit	$	1,342	$	1,053	$	637	$	751	$	616	$	127	$	4,526
Corporate unallocated expenses													(503)
Operating profit													4,023
Other pension and retiree medical benefits income													59
Net interest expense and other													(230)
Income before income taxes													$	3,852


	12 Weeks Ended 6/14/2025
	PFNA		PBNA		IB Franchise		EMEA		LatAm Foods		Asia Pacific Foods		Total
Net revenue	$	6,476	$	6,796	$	1,368	$	4,536	$	2,548	$	1,002	$	22,726
Segment cost of sales (a)	2,471		2,990		400		2,638		1,074		627
Segment selling, general and administrative expenses (a)	2,517		2,812		430		1,241		929		282
Restructuring and impairment charges (b)	91		48		3		36		12		3
Acquisition and divestiture-related charges/credits (c)	6		56		—		—		—		—
Impairment and other charges (d)	—		1,529		—		251		—		80

Segment operating profit/(loss)	$	1,391	$	(639)	$	535	$	370	$	533	$	10	$	2,200
Corporate unallocated expenses													(411)
Operating profit													1,789
Other pension and retiree medical benefits income													42
Net interest expense and other													(260)
Income before income taxes													$	1,571


	24 Weeks Ended 6/13/2026
	PFNA		PBNA		IB Franchise		EMEA		LatAm Foods		Asia Pacific Foods		Total
Net revenue	$	12,700	$	13,634	$	2,347	$	7,806	$	4,874	$	2,263	$	43,624
Segment cost of sales (a)	4,890		6,412		671		4,512		1,959		1,347
Segment selling, general and administrative expenses (a)	4,936		5,591		710		2,226		1,864		564
Restructuring and impairment charges (b)	101		2		8		39		7		8
Acquisition and divestiture-related charges/credits (c)	2		(160)		—		—		—		—


Segment operating profit	$	2,771	$	1,789	$	958	$	1,029	$	1,044	$	344	$	7,935
Corporate unallocated expenses													(699)
Operating profit													7,236
Other pension and retiree medical benefits income													117
Net interest expense and other													(531)
Income before income taxes													$	6,822


	24 Weeks Ended 6/14/2025
	PFNA		PBNA		IB Franchise		EMEA		LatAm Foods		Asia Pacific Foods		Total
Net revenue	$	12,689	$	12,672	$	2,127	$	6,924	$	4,209	$	2,024	$	40,645
Segment cost of sales (a)	4,819		5,649		612		4,045		1,772		1,239
Segment selling, general and administrative expenses (a)	4,807		5,434		698		1,989		1,541		531
Restructuring and impairment charges (b)	115		173		5		49		19		4
Acquisition and divestiture-related charges/credits (c)	21		66		—		—		—		—
Impairment and other charges (d)	—		1,529		—		251		—		80


Segment operating profit/(loss)	$	2,927	$	(179)	$	812	$	590	$	877	$	170	$	5,197
Corporate unallocated expenses													(825)
Operating profit													4,372
Other pension and retiree medical benefits income													65
Net interest expense and other													(524)
Income before income taxes													$	3,913

(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/credits and impairment and other charges lines of these tables.

(b)See Note 3 for further information related to restructuring and impairment charges. Income amount represents adjustments for changes in estimates of previously recorded amounts.

(c)See Note 11 for further information related to acquisition and divestiture-related charges/credits.

(d)In the 12 and 24 weeks ended June 14, 2025, we recorded pre-tax charges of $1,860 million ($1,447 million after-tax or $1.05 per share), of which $1,780 million is related to the impairment of the Rockstar brand in our PBNA and EMEA segments. The remaining $80 million is related to the impairment of the Be & Cheery brand in our Asia Pacific Foods segment. See Note 4 for further information.

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
	6/13/2026				6/14/2025
	Beverages(a)		Convenient Foods		Beverages(a)		Convenient Foods




North America	53	%	47	%	51	%	49	%
International (b)	32	%	68	%	33	%	67	%
PepsiCo	44	%	56	%	43	%	57	%


	24 Weeks Ended
	6/13/2026				6/14/2025
	Beverages(a)		Convenient Foods		Beverages(a)		Convenient Foods




North America	52	%	48	%	50	%	50	%
International (b)	30	%	70	%	31	%	69	%
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 36% of our consolidated net revenue in each of the 12 and 24 weeks ended June 13, 2026 and June 14, 2025. 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 37% and 63% of EMEA net revenue, respectively, in the 12 weeks ended June 13, 2026, 38% and 62% of EMEA net revenue, respectively, in the 12 weeks ended June 14, 2025 and 36% and 64% of EMEA net revenue, respectively, in each of the 24 weeks ended June 13, 2026 and June 14, 2025.

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

Other Segment Information

Capital spending and depreciation and amortization of each segment are as follows:


	12 Weeks Ended
	Capital Spending(a)				Depreciation and Amortization
	6/13/2026		6/14/2025		6/13/2026		6/14/2025
PFNA	$	211	$	230	$	229	$	230
PBNA	261		283		275		241
IB Franchise	20		30		28		27
EMEA	151		137		160		135
LatAm Foods	107		115		123		100
Asia Pacific Foods	35		68		42		38
Total segment	785		863		857		771
Corporate	34		41		40		36
Total	$	819	$	904	$	897	$	807


	24 Weeks Ended
	Capital Spending(a)				Depreciation and Amortization
	6/13/2026		6/14/2025		6/13/2026		6/14/2025
PFNA	$	321	$	425	$	456	$	440
PBNA	444		531		527		494
IB Franchise	29		46		46		46
EMEA	217		187		261		216
LatAm Foods	148		161		203		162
Asia Pacific Foods	51		92		70		61
Total segment	1,210		1,442		1,563		1,419
Corporate	56		65		76		72
Total	$	1,266	$	1,507	$	1,639	$	1,491

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

- Definition

Tabular disclosure of segment reporting. Includes, but is not limited to, reconciliation of reportable segment amount to corresponding consolidated total.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-31

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
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-Publisher FASB
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
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Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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-Topic 280
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-15

+ Details