Under the pep+ strategy, PepsiCo said it made a $120 million investment with Walmart in 2023 to support regenerative agriculture on more than two million acres of farmland in the United States and Canada, and a $216 million investment with 3 farmer-facing organizations.

10-KAnnual reportFiled Feb 9, 2024Period of report Dec 30, 2023Summary published (UTC) Oct 24, 2026

Key points

AI summary

Under the pep+ strategy, PepsiCo said it made a $120 million investment with Walmart in 2023 to support regenerative agriculture on more than two million acres of farmland in the United States and Canada, and a $216 million investment with 3 farmer-facing organizations.
PepsiCo said its Russia business accounted for 4% of consolidated net revenue in 2023 and 5% in 2022, and that Ukraine accounted for 0.3% and 0.2%, respectively. The company said it has suspended sales of Pepsi-Cola and certain of its other global beverage brands in Russia.
The company said it sold its Tropicana, Naked and other juice brands to PAI Partners in Q1 2022 for about $3.5 billion in cash and a 39% noncontrolling interest in TBG. It said the gain recognized in 2022 includes $520 million related to the remeasurement of its 39% stake in TBG at fair value.
PepsiCo said that as of both December 30, 2023 and December 31, 2022, $1.7 billion of its accounts payable related to suppliers participating in supply chain financing arrangements. The company said it is not a party to these arrangements and does not provide any guarantees to third parties in connection with them.

Key figures

Fiscal year ended December 30, 2023

Revenue: $91.5B
Operating income: $12.0B
Net income: $9.1B
EPS: $6.56
Gross profit: $49.6B
Operating cash flow: $13.4B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

pep+ Strategy and Regenerative Agriculture Investments

Under the pep+ strategy, PepsiCo said it made a $120 million investment with Walmart in 2023 to support regenerative agriculture on more than two million acres of farmland in the United States and Canada, and a $216 million investment with 3 farmer-facing organizations.

Source · Based on the MD&A text of the filing

Russia and Ukraine Share of Business

PepsiCo said its Russia business accounted for 4% of consolidated net revenue in 2023 and 5% in 2022, and that Ukraine accounted for 0.3% and 0.2%, respectively. The company said it has suspended sales of Pepsi-Cola and certain of its other global beverage brands in Russia.

Source · Based on the MD&A text of the filing

Juice Transaction Details

The company said it sold its Tropicana, Naked and other juice brands to PAI Partners in Q1 2022 for about $3.5 billion in cash and a 39% noncontrolling interest in TBG. It said the gain recognized in 2022 includes $520 million related to the remeasurement of its 39% stake in TBG at fair value.

Source · Based on the MD&A text of the filing

Accounts Payable Tied to Supply Chain Finance Arrangements

PepsiCo said that as of both December 30, 2023 and December 31, 2022, $1.7 billion of its accounts payable related to suppliers participating in supply chain financing arrangements. The company said it is not a party to these arrangements and does not provide any guarantees to third parties in connection with them.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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