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Accumulated Other Comprehensive Loss Attributable to PepsiCo (Tables)
 6 Months Ended
Jun. 15, 2024
Equity [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Loss Attributable to PepsiCo
The changes in the balances of each component of accumulated other comprehensive loss attributable to PepsiCo are as follows:
Currency Translation AdjustmentCash Flow HedgesPension and Retiree Medical
Available-for-Sale Debt Securities and Other(a)
Accumulated Other Comprehensive Loss Attributable to PepsiCo
Balance as of December 30, 2023 (b)
$(13,255)$(31)$(2,719)$471 $(15,534)
Other comprehensive (loss)/income before reclassifications (c)
(168)(47)4 685 474 
Amounts reclassified from accumulated other comprehensive loss— 51 9 — 60 
Net other comprehensive (loss)/income(168)4 13 685 534 
Tax amounts(14)(1)(2)(162)(179)
Balance as of March 23, 2024 (b)
(13,437)(28)(2,708)994 (15,179)
Other comprehensive (loss)/income before reclassifications (d)
(295)3 (1)(511)(804)
Amounts reclassified from accumulated other comprehensive loss
— 53 12 — 65 
Net other comprehensive (loss)/income(295)56 11 (511)(739)
Tax amounts28 (14)(2)120 132 
Balance as of June 15, 2024 (b)
$(13,704)$14 $(2,699)$603 $(15,786)
(a)The movements during the quarters primarily represent fair value changes in available-for-sale debt securities, including our investment in Celsius convertible preferred stock. See Note 9 for further information.
(b)Pension and retiree medical amounts are net of taxes of $1,282 million as of December 30, 2023, $1,280 million as of March 23, 2024 and $1,278 million as of June 15, 2024.
(c)Currency translation adjustment primarily reflects depreciation of the South African rand, Canadian dollar and Russian ruble.
(d)Currency translation adjustment primarily reflects depreciation of the Egyptian pound.
Currency Translation AdjustmentCash Flow HedgesPension and Retiree MedicalAvailable-for-Sale Debt Securities and OtherAccumulated Other Comprehensive Loss Attributable
to PepsiCo
Balance as of December 31, 2022 (a)
$(12,948)$1 $(2,361)$6 $(15,302)
Other comprehensive (loss) before reclassifications (b)
(350)(92)(9)(1)(452)
Amounts reclassified from accumulated other comprehensive loss (c)
108 13 5 — 126 
Net other comprehensive (loss)(242)(79)(4)(1)(326)
Tax amounts7 20 — — 27 
Balance as of March 25, 2023 (a)
(13,183)(58)(2,365)5 (15,601)
Other comprehensive (loss)/income before reclassifications (d)
(215)19 (14)1 (209)
Amounts reclassified from accumulated other comprehensive loss
— 12 5 — 17 
Net other comprehensive (loss)/income(215)31 (9)1 (192)
Tax amounts17 (7)3 — 13 
Balance as of June 17, 2023 (a)
$(13,381)$(34)$(2,371)$6 $(15,780)
(a)Pension and retiree medical amounts are net of taxes of $1,184 million as of both December 31, 2022 and March 25, 2023 and $1,187 million as of June 17, 2023.
(b)Currency translation adjustment primarily reflects depreciation of the Egyptian pound and Russian ruble.
(c)Release of currency translation adjustment is in relation to the sale of a non-strategic brand and an investment within our AMESA division.
(d)Currency translation adjustment primarily reflects depreciation of the Russian ruble.
The reclassifications from accumulated other comprehensive loss to the income statement are summarized as follows:
12 Weeks Ended24 Weeks Ended
6/15/20246/17/20236/15/20246/17/2023Affected Line Item in the Income Statement
Currency translation:
Divestitures$— $— $— $108 
Selling, general and administrative expenses
Cash flow hedges:
Foreign exchange contracts$— $(1)$— $(3)Net revenue
Foreign exchange contracts
9 15 18 18 Cost of sales
Interest rate derivatives
14 (30)35 (27)
Selling, general and administrative expenses
Commodity contracts
30 28 51 38 Cost of sales
Commodity contracts— — — (1)
Selling, general and administrative expenses
Net losses before tax53 12 104 25 
Tax amounts
(14)(3)(27)(7)
Net losses after tax$39 $9 $77 $18 
Pension and retiree medical items:
Amortization of prior service credits$(7)$(8)$(14)$(15)Other pension and retiree medical benefits income
Amortization of net losses17 13 33 25 Other pension and retiree medical benefits income
Settlement losses2 — 2 — Other pension and retiree medical benefits income
Net losses before tax12 5 21 10 
Tax amounts
(2)(1)(4)(2)
Net losses after tax$10 $4 $17 $8 
Total net losses reclassified, net of tax$49 $13 $94 $134 
Reclassifications out of Accumulated Other Comprehensive Loss
The reclassifications from accumulated other comprehensive loss to the income statement are summarized as follows:
12 Weeks Ended24 Weeks Ended
6/15/20246/17/20236/15/20246/17/2023Affected Line Item in the Income Statement
Currency translation:
Divestitures$— $— $— $108 
Selling, general and administrative expenses
Cash flow hedges:
Foreign exchange contracts$— $(1)$— $(3)Net revenue
Foreign exchange contracts
9 15 18 18 Cost of sales
Interest rate derivatives
14 (30)35 (27)
Selling, general and administrative expenses
Commodity contracts
30 28 51 38 Cost of sales
Commodity contracts— — — (1)
Selling, general and administrative expenses
Net losses before tax53 12 104 25 
Tax amounts
(14)(3)(27)(7)
Net losses after tax$39 $9 $77 $18 
Pension and retiree medical items:
Amortization of prior service credits$(7)$(8)$(14)$(15)Other pension and retiree medical benefits income
Amortization of net losses17 13 33 25 Other pension and retiree medical benefits income
Settlement losses2 — 2 — Other pension and retiree medical benefits income
Net losses before tax12 5 21 10 
Tax amounts
(2)(1)(4)(2)
Net losses after tax$10 $4 $17 $8 
Total net losses reclassified, net of tax$49 $13 $94 $134