Basis of Presentation and Our Divisions (Tables)

8 Months Ended

Sep. 05, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Net Revenue, Significant Expenses and Operating Profit by Segment


	12 Weeks Ended 9/5/2026
	PFNA		PBNA		IB Franchise		EMEA		LatAm Foods		Asia Pacific Foods		Total
Net revenue	$	6,504	$	7,706	$	1,401	$	5,413	$	3,021	$	1,229	$	25,274
Segment cost of sales (a)	2,576		3,535		409		3,041		1,234		731
Segment selling, general and administrative expenses (a)	2,546		3,159		428		1,432		1,161		319
Restructuring and impairment charges (b)	48		53		2		43		2		5
Acquisition and divestiture-related charges/credits (c)	1		(97)		—		—		—		—


Segment operating profit	$	1,333	$	1,056	$	562	$	897	$	624	$	174	$	4,646
Corporate unallocated expenses													(386)
Operating profit													4,260
Other pension and retiree medical benefits expense													(114)
Net interest expense and other													(242)
Income before income taxes													$	3,904


	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/credits (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


	36 Weeks Ended 9/5/2026
	PFNA		PBNA		IB Franchise		EMEA		LatAm Foods		Asia Pacific Foods		Total
Net revenue	$	19,204	$	21,340	$	3,748	$	13,219	$	7,895	$	3,492	$	68,898
Segment cost of sales (a)	7,466		9,947		1,080		7,553		3,193		2,078
Segment selling, general and administrative expenses (a)	7,482		8,750		1,138		3,658		3,025		883
Restructuring and impairment charges (b)	149		55		10		82		9		13
Acquisition and divestiture-related charges/credits (c)	3		(257)		—		—		—		—


Segment operating profit	$	4,104	$	2,845	$	1,520	$	1,926	$	1,668	$	518	$	12,581
Corporate unallocated expenses													(1,085)
Operating profit													11,496
Other pension and retiree medical benefits income													3
Net interest expense and other													(773)
Income before income taxes													$	10,726


	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/credits (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

(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, impairment and other charges and indirect and income tax impact lines of these tables.

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

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

(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.

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
	9/5/2026				9/6/2025
	Beverages(a)		Convenient Foods		Beverages(a)		Convenient Foods




North America	54	%	46	%	53	%	47	%
International (b)	33	%	67	%	33	%	67	%
PepsiCo	45	%	55	%	45	%	55	%


	36 Weeks Ended
	9/5/2026				9/6/2025
	Beverages(a)		Convenient Foods		Beverages(a)		Convenient Foods




North America	53	%	47	%	51	%	49	%
International (b)	31	%	69	%	32	%	68	%
PepsiCo	44	%	56	%	43	%	57	%

(a)Beverage revenue from company-owned bottlers, which includes our consolidated bottling operations in our PBNA and EMEA segments, was 38% of our consolidated net revenue in each of the 12 weeks ended September 5, 2026 and September 6, 2025, and 37% of our consolidated net revenue in each of the 36 weeks ended September 5, 2026 and September 6, 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 41% and 59% of EMEA net revenue, respectively, in each of the 12 weeks ended September 5, 2026 and September 6, 2025, and 38% and 62% of EMEA net revenue, respectively, in each of the 36 weeks ended September 5, 2026 and September 6, 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
	9/5/2026		9/6/2025		9/5/2026		9/6/2025
PFNA	$	214	$	220	$	224	$	237
PBNA	321		278		277		236
IB Franchise	22		31		25		29
EMEA	159		167		151		142
LatAm Foods	110		178		127		105
Asia Pacific Foods	43		60		44		38
Total segment	869		934		848		787
Corporate	47		58		44		37
Total	$	916	$	992	$	892	$	824


	36 Weeks Ended
	Capital Spending(a)				Depreciation and Amortization
	9/5/2026		9/6/2025		9/5/2026		9/6/2025
PFNA	$	535	$	645	$	680	$	677
PBNA	765		809		804		730
IB Franchise	51		77		71		75
EMEA	376		354		412		358
LatAm Foods	258		339		330		267
Asia Pacific Foods	94		152		114		99
Total segment	2,079		2,376		2,411		2,206
Corporate	103		123		120		109
Total	$	2,182	$	2,499	$	2,531	$	2,315

(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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-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-34

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
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-Name Accounting Standards Codification
-Section 50
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-26A

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 280
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-Name Accounting Standards Codification
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-Topic 280
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

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