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Consolidated Statement of Income - USD ($)
shares in Millions, $ in Millions
12 Months Ended
Dec. 29, 2018
Dec. 30, 2017
Dec. 31, 2016
Income Statement [Abstract]      
Revenues $ 64,661 [1] $ 63,525 $ 62,799
Cost of sales 29,381 28,796 28,222
Gross Profit 35,280 34,729 34,577
Selling, general and administrative expenses 25,170 24,453 24,773
Operating Profit [2] 10,110 10,276 [3] 9,804 [3]
Net Periodic Defined Benefits Expense (Reversal of Expense), Excluding Service Cost Component 298 233 (19)
Interest expense (1,525) (1,151) (1,342)
Interest and Other Income 306 244 110
Income before income taxes 9,189 9,602 8,553
(Benefit from)/provision for income taxes (See Note 5) (3,370) 4,694 2,174
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 12,559 4,908 6,379
Less: Net income attributable to noncontrolling interests 44 51 50
Net Income Attributable to PepsiCo $ 12,515 $ 4,857 $ 6,329
Net Income Attributable to PepsiCo per Common Share      
Basic $ 8.84 $ 3.40 $ 4.39
Diluted $ 8.78 $ 3.38 $ 4.36
Weighted-average common shares outstanding      
Basic [4] 1,415 1,425 1,439
Diluted [4] 1,425 1,438 1,452
[1] Our primary performance obligation is the distribution and sales of beverage products and food and snack products to our customers, each comprising approximately 50% of our consolidated net revenue. Internationally, our Latin America segment is predominantly a food and snack business, ESSA’s beverage business and food and snack business are each approximately 50% of the segment’s net revenue and AMENA’s beverage business and food and snack business are approximately 35% and 65%, respectively, of the segment’s net revenue. Beverage revenue from company-owned bottlers, which primarily includes our consolidated bottling operations in our NAB and ESSA segments, is approximately 40% of our consolidated net revenue. 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. See Note 2 for additional information.
[2] For further unaudited information on certain items that impacted our financial performance, see “Item 6. Selected Financial Data.”
[3] Reflects the retrospective adoption of guidance requiring the presentation of non-service cost components of net periodic benefit cost below operating profit. See Note 2 for additional information.
[4] Weighted-average common shares outstanding (in millions).