Exhibit 99.2

PepsiCo

Unaudited Information

(in millions, except per share amounts)

	First Quarter						Index	Second Quarter						Index	Third Quarter						Index	Fourth Quarter						Index	Full Year						Index
	2003			2002				2003			2002				2003			2002				2003			2002				2003			2002
Operating Profit
Frito-Lay North America	$	472		$	442		107	$	530		$	496		107	$	577		$	529		109	$	663		$	614		108	$	2,242		$	2,081		108
PepsiCo Beverages North America		321			301		107		475			427		111		503			445		113		391			312		126		1,690			1,485		114
Quaker Foods North America		118			110		107		94			95		99		106			115		92		152			138		110		470			458		103
PepsiCo International		191			165		116		300			260		115		287			251		114		283			234		121		1,061			910		117
Total Division Operating Profit		1,102			1,018		108		1,399			1,278		109		1,473			1,340		110		1,489			1,298		115		5,463			4,934		111
Divested Businesses		26			—		NM		—			9		NM		—			6		NM		—			8		NM		26			23		NM
Merger-Related Costs		(11	)		(36	)	NM		(11	)		(65	)	NM		(9	)		(33	)	NM		(28	)		(90	)	NM		(59	)		(224	)	NM
Impairment and Restructuring Charges		—			—		NM		—			—		NM		—			—		NM		(147	)		—		NM		(147	)		—		NM
Corporate Unallocated		(91	)		(101	)	91		(97	)		(90	)	106		(100	)		(110	)	90		(214	)		(137	)	157		(502	)		(438	)	115
Total Operating Profit		1,026			881		116		1,291			1,132		114		1,364			1,203		113		1,100			1,079		102		4,781			4,295		111
Bottling Equity Income, net		15			27		56		95			94		102		136			130		104		77			29		NM		323			280		116
Interest Expense, net		(30	)		(19	)	158		(22	)		(38	)	58		(30	)		(36	)	83		(30	)		(49	)	62		(112	)		(142	)	79
Income Before Taxes		1,011			889		114		1,364			1,188		115		1,470			1,297		113		1,147			1,059		108		4,992			4,433		113
Provision for Income Taxes		313			287		109		420			380		111		458			413		111		233			353		66		1,424			1,433		99
Net Income	$	698		$	602		116	$	944		$	808		117	$	1,012		$	884		114	$	914		$	706		129	$	3,568		$	3,000		119
Diluted Earnings Per Common Share	$	0.40		$	0.33		120	$	0.54		$	0.45		122	$	0.58		$	0.50		117	$	0.52		$	0.40		130	$	2.05		$	1.68		122
Average shares outstanding—Diluted		1,730			1,796				1,736			1,808				1,745			1,784				1,743			1,749				1,739			1,782

Note: Indices based on unrounded amounts.

PepsiCo

Unaudited Information

(in millions, except per share amounts)

	Full Year									Index
	2003			2002			2001			03 vs 02	02 vs 01
Net Revenue	$	26,971		$	25,112		$	23,512		107	107
Cost of Sales		12,379			11,497			10,750		108	107
Selling, general and administrative expenses		9,460			8,958			8,574		106	104
Amortization of intangibles		145			138			165		105	84
Merger-related costs		59			224			356		NM	NM
Other impairment and restructuring charges		147			—			31		NM	NM
Total costs and expenses		22,190			20,817			19,876		107	105
Total Operating Profit		4,781			4,295			3,636		111	118
Bottling Equity Income, net		323			280			160		116	175
Interest Expense, net		(112	)		(142	)		(152	)	79	94
Income Before Taxes		4,992			4,433			3,644		113	122
Provision for Income Taxes		1,424			1,433			1,244		99	115
Net Income	$	3,568		$	3,000		$	2,400		119	125
Diluted Earnings Per Common Share	$	2.05		$	1.68		$	1.33		122	127
Average shares outstanding—Diluted		1,739			1,782			1,804

Note: Indices based on unrounded amounts.

PepsiCo

Unaudited Information

(in millions, except per share amounts)

	First Quarter									Index		Second Quarter									Index		Third Quarter									Index		Fourth Quarter									Index
	2003			2002			2001			03 vs 02	02 vs 01	2003			2002			2001			03 vs 02	02 vs 01	2003			2002			2001			03 vs 02	02 vs 01	2003			2002			2001			03 vs 02	02 vs 01
Net Revenue	$	5,530		$	5,311		$	4,912		104	108	$	6,538		$	6,119		$	5,807		107	105	$	6,830		$	6,300		$	5,901		108	107	$	8,073		$	7,382		$	6,892		109	107
Cost of Sales		2,534			2,430			2,252		104	108		2,992			2,776			2,638		108	105		3,116			2,873			2,683		108	107		3,737			3,418			3,177		109	108
Selling, general and administrative expenses		1,929			1,936			1,836		100	105		2,209			2,112			2,061		105	102		2,307			2,156			2,061		107	105		3,015			2,754			2,616		109	105
Amortization of intangibles		30			28			36		108	77		35			34			39		102	89		34			35			38		99	89		46			41			52		111	80
Merger-related costs		11			36			—		NM	NM		11			65			—		NM	NM		9			33			235		NM	NM		28			90			121		NM	NM
Other impairment and restructuring charges		—			—			4		—	NM		—			—			4		—	NM		—			—			13		—	NM		147			—			10		NM	NM
Total costs and expenses		4,504			4,430			4,128		102	107		5,247			4,987			4,742		105	105		5,466			5,097			5,030		107	101		6,973			6,303			5,976		111	105
Total Operating Profit		1,026			881			784		116	112		1,291			1,132			1,065		114	106		1,364			1,203			871		113	138		1,100			1,079			916		102	118
Bottling Equity Income, net		15			27			5		56	NM		95			94			63		102	149		136			130			85		104	152		77			29			7		NM	NM
Interest Expense, net		(30	)		(19	)		(32	)	158	59		(22	)		(38	)		(41	)	58	93		(30	)		(36	)		(35	)	83	102		(30	)		(49	)		(44	)	62	114
Income Before Taxes		1,011			889			757		114	117		1,364			1,188			1,087		115	109		1,470			1,297			921		113	141		1,147			1,059			879		108	120
Provision for Income Taxes		313			287			242		109	119		420			380			347		111	109		458			413			365		111	113		233			353			290		66	122
Net Income	$	698		$	602		$	515		116	117	$	944		$	808		$	740		117	109	$	1,012		$	884		$	556		114	159	$	914		$	706		$	589		129	120
Diluted Earnings Per Common Share	$	0.40		$	0.33		$	0.29		120	117	$	0.54		$	0.45		$	0.41		122	109	$	0.58		$	0.50		$	0.31		117	162	$	0.52		$	0.40		$	0.33		130	123
Average shares outstanding—Diluted		1,730			1,796			1,795					1,736			1,808			1,805					1,745			1,784			1,816					1,743			1,749			1,802

Note: Indices based on unrounded amounts.