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Basis of Presentation (Tables)
 6 Months Ended
Jun. 11, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]
Net revenue of each division is as follows:
12 Weeks Ended24 Weeks Ended
6/11/20226/12/20216/11/20226/12/2021
FLNA$5,181 $4,552 $10,020 $8,788 
QFNA675 575 1,388 1,221 
PBNA6,120 6,156 11,473 11,230 
LatAm2,415 1,967 3,889 3,209 
Europe3,023 3,286 4,820 5,081 
AMESA1,696 1,602 2,700 2,485 
APAC1,115 1,079 2,135 2,023 
Total$20,225 $19,217 $36,425 $34,037 
Disaggregation of Revenue [Table Text Block] The following tables reflect the approximate percentage of net revenue generated between our beverage business and our convenient food business for each of our international divisions, as well as our consolidated net revenue:
12 Weeks Ended
6/11/20226/12/2021
Beverages(a)
Convenient Foods
Beverages(a)
Convenient Foods
LatAm10 %90 %10 %90 %
Europe50 %50 %55 %45 %
AMESA35 %65 %35 %65 %
APAC25 %75 %25 %75 %
PepsiCo45 %55 %45 %55 %
24 Weeks Ended
6/11/20226/12/2021
Beverages(a)
Convenient Foods
Beverages(a)
Convenient Foods
LatAm10 %90 %10 %90 %
Europe50 %50 %55 %45 %
AMESA30 %70 %30 %70 %
APAC20 %80 %20 %80 %
PepsiCo45 %55 %45 %55 %
(a)Beverage revenue from company-owned bottlers, which primarily includes our consolidated bottling operations in our PBNA and Europe divisions, is over 35% of our consolidated net revenue in the 12 and 24 weeks ended June 11, 2022, and approximately 40% of our consolidated net revenue in the 12 and 24 weeks ended June 12, 2021. Generally, our finished goods beverage operations produce higher net revenue but lower operating margin as compared to concentrate sold to authorized bottling partners for the manufacture of finished goods beverages.
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]
Operating profit of each division is as follows:
12 Weeks Ended24 Weeks Ended
6/11/20226/12/20216/11/20226/12/2021
FLNA$1,448 $1,382 $2,744 $2,622 
QFNA135 128 294 278 
PBNA (a) (b)
651 809 4,085 1,175 
LatAm (c)
420 356 743 574 
Europe (a) (d)
(797)405 (933)536 
AMESA290 256 470 394 
APAC206 192 421 400 
Total divisions2,353 3,528 7,824 5,979 
Corporate unallocated expenses (e) (f)
(276)(399)(480)(538)
Total$2,077 $3,129 $7,344 $5,441 
(a)In the 24 weeks ended June 11, 2022, we recorded a gain of $3.0 billion and $298 million in our PBNA and Europe divisions, respectively, associated with the Juice Transaction. The total after-tax amount was $2.9 billion or $2.07 per share. See Note 11 for further information.
(b)In the 12 and 24 weeks ended June 11, 2022, we decided to terminate our agreement with Vital Pharmaceuticals, Inc. (Vital) to distribute Bang Energy drinks in our PBNA division. As a result, we recognized pre-tax impairment and other charges (Brand Portfolio Impairment Charges) of $141 million ($107 million after-tax or $0.08 per share) primarily related to the write-off of distribution rights, with $8 million recorded in cost of sales, $7 million recorded in selling, general and administrative expenses and $126 million recorded in impairment of intangible assets. See Note 3 for further information.
(c)In the 12 and 24 weeks ended June 11, 2022, we made the decision to sell or discontinue certain non-strategic brands in our LatAm division. As a result, we recognized pre-tax impairment and other charges (Brand Portfolio Impairment Charges) of $83 million ($56 million after-tax or $0.04 per share) primarily related to property, plant and equipment and intangible assets, with $47 million recorded in selling, general and administrative expenses and $36 million recorded in impairment of intangible assets. See Note 3 for further information.
(d)In the 24 weeks ended June 11, 2022, we recorded pre-tax impairment charges (Brand Portfolio Impairment Charges) of $241 million ($193 million after-tax or $0.14 per share) in impairment of intangible assets related to the discontinuation or repositioning of certain juice and dairy brands in Russia. See Note 3 for further information. Also see below for charges taken as a result of the Russia-Ukraine conflict.
(e)In the 12 weeks ended June 11, 2022, we recorded a pre-tax loss on certain equity investments of $56 million ($42 million after-tax or $0.03 per share) in selling, general and administrative expenses. In the 24 weeks ended June 11, 2022, we recorded a pre-tax loss on certain equity investments of $64 million ($48 million after-tax or $0.03 per share) in selling, general and administrative expenses.
(f)In the 12 weeks ended June 12, 2021, we sold our short-term investment in a publicly traded company and recorded a pre-tax loss on the sale of $39 million ($30 million after-tax or $0.02 per share), net of discounts, in selling, general and administrative expenses. The 24 weeks ended June 12, 2021 include a pre-tax net gain of $69 million ($52 million after-tax or $0.04 per share) associated with this sale.
Schedule of Unusual or Infrequent Items, or Both [Table Text Block] in our Europe division as a result of the Russia-Ukraine conflict is as follows:
6/11/2022
12 Weeks Ended24 Weeks Ended
Impairment charges related to intangible assets (a)
$1,197 $1,198 
Impairment charges related to property, plant and equipment— 123 
(Recovery of)/allowance for expected credit losses (b)
(11)26 
(Recovery of)/allowance for inventory write-downs (b)
(8)25 
Other (b)
(13)34 
Total$1,165 $1,406 
After-tax amount$927 $1,168 
Impact on net income attributable to PepsiCo per common share$(0.67)$(0.84)
6/11/2022
12 Weeks Ended24 Weeks Ended
Cost of sales (b)
$(7)$133 
Selling, general and administrative expenses (b)
(25)75 
Impairment of intangible assets (a)
1,197 1,198 
Total $1,165 $1,406 
(a)See Note 3 for further information. For information on our policies for indefinite-lived intangible assets, refer to Note 2 to our consolidated financial statements in our 2021 Form 10-K.
(b)Income amounts primarily relate to changes in estimates.
A summary of pre-tax charges related to the impairment of intangible assets is as follows:
6/11/2022
12 Weeks Ended24 Weeks Ended
Russia-Ukraine conflict impairment charges$1,197 $1,198 
Brand Portfolio Impairment Charges162 403 
Total $1,359 $1,601 
Operating profit includes certain pre-tax charges taken as a result of the COVID-19 pandemic, primarily related to incremental employee compensation costs, such as certain leave benefits and labor costs, and employee protection costs. These pre-tax charges by division are as follows:
12 Weeks Ended24 Weeks Ended
6/11/20226/12/20216/11/20226/12/2021
FLNA$5 $14 $19 $38 
QFNA— 1 1 3 
PBNA (a)
1 (11)11 2 
LatAm4 17 10 32 
Europe2 9 3 15 
AMESA1 3 3 2 
APAC11 2 13 4 
Total$24 $35 $60 $96 
(a)Income amount primarily relates to allowances for expected credit losses and upfront payments to customers, due to improved projected default rates and lower at-risk balances.