v3.26.1
Segments (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule of segment reporting information, by segment
Information about our operations and significant expenses by reportable segment is as follows:
(in millions)U.S. Refreshment BeveragesU.S. CoffeeKDP International
JDE Peet's(1)
Total
Second Quarter of 2026
Net sales$2,925 $918 $664 $2,802 $7,309 
Cost of sales1,225 564 342 2,084 
SG&A expenses843 159 170 785 
Other segment expense (income) — 46 — (5)
Income (loss) from operations - reportable segments$857 $149 $152 $(62)$1,096 
Unallocated corporate costs(468)
Income from operations628 
Interest expense, net336 
Other income, net(13)
Income before provision for income taxes$305 
Second Quarter of 2025
Net sales$2,660 $948 $555 $—$4,163 
Cost of sales1,099 551 260 —
SG&A expenses815 163 152 —
Other segment expense— 1 — —
Income from operations - reportable segments$746 $233 $143 $—$1,122 
Unallocated corporate costs(224)
Income from operations898 
Interest expense, net180 
Income before provision for income taxes$718 
(1)The JDE Peet's segment was acquired on April 1, 2026. As such, amounts presented above only include activity subsequent to the date of acquisition. For selected pro forma information, refer to Note 2.
(in millions)U.S. Refreshment BeveragesU.S. CoffeeKDP International
JDE Peet's(1)
Total
First Six Months of 2026
Net sales$5,524 $1,775 $1,184 $2,802 $11,285 
Cost of sales2,291 1,103 632 2,084 
SG&A expenses1,655 317 315 785 
Other segment expense (income)— 46 — (5)
Income (loss) from operations - reportable segments$1,578 $309 $237 $(62)$2,062 
Unallocated corporate costs(678)
Income from operations1,384 
Interest expense, net617 
Other expense, net105 
Income before provision for income taxes$662 
First Six Months of 2025
Net sales$4,983 $1,825 $990 $—$7,798 
Cost of sales2,036 1,074 488 —
SG&A expenses1,548 314 271 —
Other segment (income) expense(1)2 (2)—
Income from operations - reportable segments$1,400 $435 $233 $—$2,068 
Unallocated corporate costs(369)
Income from operations1,699 
Interest expense, net328 
Other income, net(7)
Income before provision for income taxes$1,378
(1)The JDE Peet's segment was acquired on April 1, 2026. As such, amounts presented above only include activity subsequent to the date of acquisition. For selected pro forma information, refer to Note 2.
Reconciliation of operating profit (loss) from segments to consolidated
Information about our operations and significant expenses by reportable segment is as follows:
(in millions)U.S. Refreshment BeveragesU.S. CoffeeKDP International
JDE Peet's(1)
Total
Second Quarter of 2026
Net sales$2,925 $918 $664 $2,802 $7,309 
Cost of sales1,225 564 342 2,084 
SG&A expenses843 159 170 785 
Other segment expense (income) — 46 — (5)
Income (loss) from operations - reportable segments$857 $149 $152 $(62)$1,096 
Unallocated corporate costs(468)
Income from operations628 
Interest expense, net336 
Other income, net(13)
Income before provision for income taxes$305 
Second Quarter of 2025
Net sales$2,660 $948 $555 $—$4,163 
Cost of sales1,099 551 260 —
SG&A expenses815 163 152 —
Other segment expense— 1 — —
Income from operations - reportable segments$746 $233 $143 $—$1,122 
Unallocated corporate costs(224)
Income from operations898 
Interest expense, net180 
Income before provision for income taxes$718 
(1)The JDE Peet's segment was acquired on April 1, 2026. As such, amounts presented above only include activity subsequent to the date of acquisition. For selected pro forma information, refer to Note 2.
(in millions)U.S. Refreshment BeveragesU.S. CoffeeKDP International
JDE Peet's(1)
Total
First Six Months of 2026
Net sales$5,524 $1,775 $1,184 $2,802 $11,285 
Cost of sales2,291 1,103 632 2,084 
SG&A expenses1,655 317 315 785 
Other segment expense (income)— 46 — (5)
Income (loss) from operations - reportable segments$1,578 $309 $237 $(62)$2,062 
Unallocated corporate costs(678)
Income from operations1,384 
Interest expense, net617 
Other expense, net105 
Income before provision for income taxes$662 
First Six Months of 2025
Net sales$4,983 $1,825 $990 $—$7,798 
Cost of sales2,036 1,074 488 —
SG&A expenses1,548 314 271 —
Other segment (income) expense(1)2 (2)—
Income from operations - reportable segments$1,400 $435 $233 $—$2,068 
Unallocated corporate costs(369)
Income from operations1,699 
Interest expense, net328 
Other income, net(7)
Income before provision for income taxes$1,378
(1)The JDE Peet's segment was acquired on April 1, 2026. As such, amounts presented above only include activity subsequent to the date of acquisition. For selected pro forma information, refer to Note 2.