|
2019
2018
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Net revenue
$ 12,884 $ 16,449 $ 17,188 $ 20,640 $ 12,562 $ 16,090 $16,485 $19,524
Gross profit
$ 7,196 $ 9,045 $ 9,494 $ 11,294 $ 6,907 $ 8,827 $ 8,958 $10,588
Operating profit
$ 2,008 $ 2,729 $ 2,855 $ 2,699 $ 1,807 $ 3,028 $ 2,844 $ 2,431
Mark-to-market net impact
(a)
$
60 $
(6) $
(4) $
62 $
(31) $
3 $
(29) $ (106)
Restructuring and impairment
charges
(b)
$
(26) $ (158) $
(98) $
(88) $
(12) $
(32) $
(35) $ (229)
Inventory fair value adjustments and
merger and integration charges
(c)
$
(15) $
(24) $
(7) $
(9)
—
—
— $
(75)
Pension-related settlement charges
(d)
—
—
— $ (273)
—
—
—
—
Net tax related to the TCJ Act
(e)
$
29
—
— $
(21) $
(1) $ (777) $
(76) $ 882
Gains on sale of assets
(f)
— $
32
— $
45 $
18 $
9 $
37 $
12
Other net tax benefits
(g)
—
—
—
—
— $
314 $ 364 $ 4,386
Charges related to cash tender and
exchange offers
(h)
—
—
—
—
—
—
— $ (253)
Tax reform bonus
(i)
—
—
—
— $
(87)
—
—
—
Gains on beverage refranchising
(j)
—
—
—
—
— $
144
— $
58
Provision for/(benefit from) income
taxes
(e)(f)
$
446 $
524 $
559 $
430 $
304 $ 1,070 $ 188 $ (4,932)
Net income attributable to PepsiCo
$ 1,413 $ 2,035 $ 2,100 $ 1,766 $ 1,343 $ 1,820 $ 2,498 $ 6,854
Net income attributable to PepsiCo
per common share
Basic
$ 1.01 $ 1.45 $ 1.50 $ 1.27 $ 0.94 $ 1.28 $ 1.77 $ 4.86
Diluted
$ 1.00 $ 1.44 $ 1.49 $ 1.26 $ 0.94 $ 1.28 $ 1.75 $ 4.83
Cash dividends declared per common
share
$ 0.9275 $ 0.955 $ 0.955 $ 0.955 $ 0.805 $ 0.9275 $0.9275 $0.9275
(a) Mark-to-market net gains and losses on commodity derivatives in corporate unallocated expenses.
(b) Expenses related to the 2019 and 2014 Productivity Plans. See Note 3 to our consolidated financial statements for further information.
122
(c) In 2019, inventory fair value adjustments and merger and integration charges primarily related to our acquisition of SodaStream. In 2018,
merger and integration charges related to our acquisition of SodaStream. See Note 14 to our consolidated financial statements for further
information.
(d) In 2019, pension settlement charges of $220 million related to the purchase of a group annuity contract and settlement charges of $53 million
related to one-time lump sum payments to certain former employees who had vested benefits, recorded in other pension and retiree medical
benefits expense/income. See Note 7 to our consolidated financial statements for further information.
(e) Net tax related to the TCJ Act. See Note 5 to our consolidated financial statements for further information.
(f) In 2019, gains associated with the sale of assets in the following segments: $31 million in FLNA and $46 million in PBNA. In 2018, gains
associated with the sale of assets in the following segments: $64 million in PBNA and $12 million in AMESA.
(g) In 2018, other net tax benefits of $4.3 billion resulting from the reorganization of our international operations, including the intercompany
transfer of certain intangible assets. Also in 2018, non-cash tax benefits of $717 million associated with both the conclusion of certain
international tax audits and our agreement with the IRS resolving all open matters related to the audits of taxable years 2012 and 2013. See
Note 5 to our consolidated financial statements for further information.
(h) In 2018, interest expense in connection with our cash tender and exchange offers, primarily representing the tender price paid over the
carrying value of the tendered notes. See Note 8 to our consolidated financial statements for further information.
(i) In 2018, bonus extended to certain U.S. employees related to the TCJ Act in the following segments: $44 million in FLNA, $2 million in
QFNA and $41 million in PBNA.
(j) In 2018, gains of $58 million and $144 million associated with refranchising our entire beverage bottling operations and snack distribution
operations in CHS in the Europe segment and refranchising a portion of our beverage business in Thailand in the APAC segment, respectively.
See Note 14 to our consolidated financial statements for further information.
123
Do'stlaringiz bilan baham: |
