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PEP

PEPSICO INCeval run
10-K for period ending 2025-12-27gpt-6-luna@none · prompt v4$0.00105.9sfiling on sec.gov ↗

figures

fieldvaluestatement rowprintedSEC
Total revenue$93.9BR1 Net Revenue93,925 millions$93.9B ✓
Operating income$11.5BR6 Operating Profit11,498 millions$11.5B ✓
Net income attributable to the company$8.2BR13 Net Income Attributable to PepsiCo8,240 millions$8.2B ✓
Diluted EPS$6.00R16 Diluted6.00$6.00 ✓
Cash and cash equivalents$9.2BR3 Cash and cash equivalents9,159 millions$9.2B ✓
Total assets$107.4BR20 Total Assets107,399 millions$107.4B ✓
Total liabilities$86.9BR29 Total Liabilities86,852 millions$86.9B ✓
Total shareholders' equity attributable to the company$20.4BR37 Total PepsiCo Common Shareholders’ Equity20,406 millions$20.4B ✓
Net cash from operating activities$12.1BR24 Net Cash Provided by Operating Activities12,087 millions$12.1B ✓
Net cash from investing activities-$6.9BR36 Net Cash Used for Investing Activities(6,879) millions-$6.9B ✓
Net cash from financing activities-$5.0BR50 Net Cash Used for Financing Activities(4,979) millions-$5.0B ✓

checks

  • assets = liabilities + equity · total assets equals total liabilities and equity
  • equity excludes minority interests · totalEquity excludes noncontrolling interests
  • net income is before preferred dividends · net income is not the after-preferred-dividends line
  • diluted EPS is for total net income · diluted EPS is for total net income
  • net income excludes minority interests · netIncome excludes noncontrolling interests
  • cash flows tie to the change in cash · operating + investing + financing (+ FX) equals the net change in cash

management's claims

Found 6 claims, none about a company-wide figure the statements can confirm.

trace

  1. 0locator (code)0.17s
    {
  "tables": 109,
  "exhibits": [],
  "documents": 1
}
    {
  "income": {
    "rows": 20,
    "scale": 1000000,
    "score": 49.5,
    "heading": "ies Fiscal years ended December 27, 2025, December 28, 2024 and December 30, 2023 (in millions except per share amounts)",
    "tableIndex": 25,
    "runnerUpScore": 30
  },
  "balance": {
    "rows": 41,
    "scale": 1000000,
    "score": 53.5,
    "heading": "ance Sheet PepsiCo, Inc. and Subsidiaries December 27, 2025 and December 28, 2024 (in millions except per share amounts)",
    "tableIndex": 28,
    "runnerUpScore": 23
  },
  "cashflow": {
    "rows": 55,
    "scale": 1000000,
    "score": 55,
    "heading": "psiCo, Inc. and Subsidiaries Fiscal years ended December 27, 2025, December 28, 2024 and December 30, 2023 (in millions)",
    "tableIndex": 27,
    "runnerUpScore": 10
  }
}
  2. 1balance sheet agent1.49s · 1460 tokens · $0.0002
    {
  "rows": 41,
  "retryHint": null,
  "tableIndex": 28
}
    {
  "figures": [
    {
      "note": "This is the balance sheet’s cash and cash equivalents line.",
      "field": "cash",
      "scale": 1000000,
      "value": 9159000000,
      "printed": "9,159",
      "rowIndex": 3,
      "rowLabel": "Cash and cash equivalents",
      "priorValue": 8505000000,
      "agentPrinted": "9,159",
      "failedChecks": [],
      "priorPrinted": "8,505",
      "groundingMismatch": false
    },
    {
      "note": "This row prints Total Assets.",
      "field": "totalAssets",
      "scale": 1000000,
      "value": 107399000000,
      "printed": "107,399",
      "rowIndex": 20,
      "rowLabel": "Total Assets",
      "priorValue": 99467000000,
      "agentPrinted": "107,399",
      "failedChecks": [],
      "priorPrinted": "99,467",
      "groundingMismatch": false
    },
    {
      "note": "This is the explicit Total Liabilities line, not liabilities and equity.",
      "field": "totalLiabilities",
      "scale": 1000000,
      "value": 86852000000,
      "printed": "86,852",
      "rowIndex": 29,
      "rowLabel": "Total Liabilities",
      "priorValue": 81296000000,
      "agentPrinted": "86,852",
      "failedChecks": [],
      "priorPrinted": "81,296",
      "groundingMismatch": false
    },
    {
      "note": "This is PepsiCo’s company-attributable shareholders’ equity, excluding noncontrolling interests.",
      "field": "totalEquity",
      "scale": 1000000,
      "value": 20406000000,
      "printed": "20,406",
      "rowIndex": 37,
      "rowLabel": "Total PepsiCo Common Shareholders’ Equity",
      "priorValue": 18041000000,
      "agentPrinted": "20,406",
      "failedChecks": [],
      "priorPrinted": "18,041",
      "groundingMismatch": false
    }
  ],
  "statement": "balance",
  "tableIndex": 28,
  "priorColumn": 1,
  "currentColumn": 0
}
  3. 2income statement agent1.71s · 1394 tokens · $0.0002
    {
  "rows": 20,
  "retryHint": null,
  "tableIndex": 25
}
    {
  "figures": [
    {
      "note": "Net Revenue is the company-wide revenue total.",
      "field": "revenue",
      "scale": 1000000,
      "value": 93925000000,
      "printed": "93,925",
      "rowIndex": 1,
      "rowLabel": "Net Revenue",
      "priorValue": 91854000000,
      "agentPrinted": "93,925",
      "failedChecks": [],
      "priorPrinted": "91,854",
      "groundingMismatch": false
    },
    {
      "note": "Operating Profit is the statement’s operating income line.",
      "field": "operatingIncome",
      "scale": 1000000,
      "value": 11498000000,
      "printed": "11,498",
      "rowIndex": 6,
      "rowLabel": "Operating Profit",
      "priorValue": 12887000000,
      "agentPrinted": "11,498",
      "failedChecks": [],
      "priorPrinted": "12,887",
      "groundingMismatch": false
    },
    {
      "note": "This line excludes net income attributable to noncontrolling interests.",
      "field": "netIncome",
      "scale": 1000000,
      "value": 8240000000,
      "printed": "8,240",
      "rowIndex": 13,
      "rowLabel": "Net Income Attributable to PepsiCo",
      "priorValue": 9578000000,
      "agentPrinted": "8,240",
      "failedChecks": [],
      "priorPrinted": "9,578",
      "groundingMismatch": false
    },
    {
      "note": "This is the diluted per-common-share amount.",
      "field": "epsDiluted",
      "scale": 1,
      "value": 6,
      "printed": "6.00",
      "rowIndex": 16,
      "rowLabel": "Diluted",
      "priorValue": 6.95,
      "agentPrinted": "6.00",
      "failedChecks": [],
      "priorPrinted": "6.95",
      "groundingMismatch": false
    }
  ],
  "statement": "income",
  "tableIndex": 25,
  "priorColumn": 1,
  "currentColumn": 0
}
  4. 3cash flow agent1.76s · 1813 tokens · $0.0002
    {
  "rows": 55,
  "retryHint": null,
  "tableIndex": 27
}
    {
  "figures": [
    {
      "note": "This is the operating activities section total, including changes in assets and liabilities.",
      "field": "operatingCashFlow",
      "scale": 1000000,
      "value": 12087000000,
      "printed": "12,087",
      "rowIndex": 24,
      "rowLabel": "Net Cash Provided by Operating Activities",
      "priorValue": 12507000000,
      "agentPrinted": "12,087",
      "failedChecks": [],
      "priorPrinted": "12,507",
      "groundingMismatch": false
    },
    {
      "note": "This is the investing activities section total.",
      "field": "investingCashFlow",
      "scale": 1000000,
      "value": -6879000000,
      "printed": "(6,879)",
      "rowIndex": 36,
      "rowLabel": "Net Cash Used for Investing Activities",
      "priorValue": -5472000000,
      "agentPrinted": "(6,879)",
      "failedChecks": [],
      "priorPrinted": "(5,472)",
      "groundingMismatch": false
    },
    {
      "note": "This is the financing activities section total.",
      "field": "financingCashFlow",
      "scale": 1000000,
      "value": -4979000000,
      "printed": "(4,979)",
      "rowIndex": 50,
      "rowLabel": "Net Cash Used for Financing Activities",
      "priorValue": -7556000000,
      "agentPrinted": "(4,979)",
      "failedChecks": [],
      "priorPrinted": "(7,556)",
      "groundingMismatch": false
    }
  ],
  "statement": "cashflow",
  "tableIndex": 27,
  "priorColumn": 1,
  "currentColumn": 0
}
  5. 4reconciler (code)0.00s
    null
    [
  {
    "name": "balance_identity",
    "detail": "total assets equals total liabilities and equity",
    "fields": [
      "totalAssets"
    ],
    "passed": true,
    "skipped": false,
    "statement": "balance"
  },
  {
    "name": "totalEquity_attribution",
    "detail": "totalEquity excludes noncontrolling interests",
    "fields": [
      "totalEquity"
    ],
    "passed": true,
    "skipped": false,
    "statement": "balance"
  },
  {
    "name": "netIncome_before_preferred",
    "detail": "net income is not the after-preferred-dividends line",
    "fields": [
      "netIncome"
    ],
    "passed": true,
    "skipped": false,
    "statement": "income"
  },
  {
    "name": "epsDiluted_total",
    "detail": "diluted EPS is for total net income",
    "fields": [
      "epsDiluted"
    ],
    "passed": true,
    "skipped": false,
    "statement": "income"
  },
  {
    "name": "netIncome_attribution",
    "detail": "netIncome excludes noncontrolling interests",
    "fields": [
      "netIncome"
    ],
    "passed": true,
    "skipped": false,
    "statement": "income"
  },
  {
    "name": "cash_flow_tie",
    "detail": "operating + investing + financing (+ FX) equals the net change in cash",
    "fields": [
      "operatingCashFlow",
      "investingCashFlow",
      "financingCashFlow"
    ],
    "passed": true,
    "skipped": false,
    "statement": "cashflow"
  }
]
  6. 5MD&A claims agent3.70s · 2287 tokens · $0.0004
    null
    [
  {
    "kind": "percent_change",
    "field": "revenue",
    "quote": "Net revenue increased 1.5%, primarily driven by effective net pricing, partially offset by an organic volume decline.",
    "scope": "consolidated",
    "actual": null,
    "reason": "Total revenue: the sentence is about a region, segment or adjusted measure",
    "claimed": null,
    "verdict": "not_checked",
    "asWritten": "1.5%",
    "tolerance": null,
    "quoteVerified": true
  },
  {
    "kind": "percent_change",
    "field": "revenue",
    "quote": "Net revenue increased 2%, primarily reflecting effective net pricing.",
    "scope": "segment_or_non_gaap",
    "actual": null,
    "reason": "Total revenue: about a segment, region or non-GAAP measure, which the statements can't confirm",
    "claimed": null,
    "verdict": "not_checked",
    "asWritten": "2%",
    "tolerance": null,
    "quoteVerified": true
  },
  {
    "kind": "percent_change",
    "field": "operatingIncome",
    "quote": "Operating profit increased 21%, primarily reflecting a favorable impact of a prior-year indirect tax reserve, the net revenue growth and lower advertising and marketing costs, partially offset by an impairment charge related to the Rockstar brand.",
    "scope": "segment_or_non_gaap",
    "actual": null,
    "reason": "Operating income: about a segment, region or non-GAAP measure, which the statements can't confirm",
    "claimed": null,
    "verdict": "not_checked",
    "asWritten": "21%",
    "tolerance": null,
    "quoteVerified": true
  },
  {
    "kind": "percent_change",
    "field": "revenue",
    "quote": "Net revenue increased 8%, primarily reflecting effective net pricing and a 2.5-percentage-point impact of favorable foreign exchange translation, partially offset by an organic volume decline.",
    "scope": "segment_or_non_gaap",
    "actual": null,
    "reason": "Total revenue: about a segment, region or non-GAAP measure, which the statements can't confirm",
    "claimed": null,
    "verdict": "not_checked",
    "asWritten": "8%",
    "tolerance": null,
    "quoteVerified": true
  },
  {
    "kind": "percent_change",
    "field": "revenue",
    "quote": "Net revenue increased 2%, primarily reflecting organic volume growth, partially offset by unfavorable net pricing.",
    "scope": "segment_or_non_gaap",
    "actual": null,
    "reason": "Total revenue: about a segment, region or non-GAAP measure, which the statements can't confirm",
    "claimed": null,
    "verdict": "not_checked",
    "asWritten": "2%",
    "tolerance": null,
    "quoteVerified": true
  },
  {
    "kind": "percent_change",
    "field": "operatingIncome",
    "quote": "Operating profit decreased 11%, primarily driven by certain operating cost increases, impairment charges related to the Rockstar brand, a decline in organic volume, a 5-percentage-point impact of higher commodity costs and higher acquisition and divestiture-related charges. These impacts were partially offset by productivity savings and effective net pricing. Additionally, a favorable impact of prior-year impairment and other charges associated with our TBG investment and receivables related to the sale of Tropicana, Naked and other select juice brands (Juice Transaction) and lower advertising and marketing expenses contributed to the decline.",
    "scope": "consolidated",
    "actual": null,
    "reason": "Operating income: the sentence is about a region, segment or adjusted measure",
    "claimed": null,
    "verdict": "not_checked",
    "asWritten": "11%",
    "tolerance": null,
    "quoteVerified": true
  }
]

Income statement

table #25 · current period is figure column 1
0202520242023
1Net Revenue← Total revenue93,92591,85491,471
2Cost of sales43,06641,74441,881
3Gross profit50,85950,11049,590
4Selling, general and administrative expenses37,36837,19036,677
5Impairment of intangible assets (see Notes 1 and 4)1,99333927
6Operating Profit← Operating income11,49812,88711,986
7Other pension and retiree medical benefits (expense)/income(133)(22)250
8Net interest expense and other(1,121)(919)(819)
9Income before income taxes10,24411,94611,417
10Provision for income taxes1,9492,3202,262
11Net income8,2959,6269,155
12Less: Net income attributable to noncontrolling interests554881
13Net Income Attributable to PepsiCo← Net income attributable to the company8,2409,5789,074
14Net Income Attributable to PepsiCo per Common Share
15Basic6.026.976.59
16Diluted← Diluted EPS6.006.956.56
17Weighted-average common shares outstanding
18Basic1,3691,3731,376
19Diluted1,3731,3781,383

Balance sheet

table #28 · current period is figure column 1
020252024
1ASSETS
2Current Assets
3Cash and cash equivalents← Cash and cash equivalents9,1598,505
4Short-term investments371761
5Accounts and notes receivable, net11,50610,333
6Inventories
7Raw materials and packaging2,5812,440
8Work-in-process143104
9Finished goods3,1212,762
105,8455,306
11Prepaid expenses and other current assets1,068921
12Total Current Assets27,94925,826
13Property, Plant and Equipment, net29,90528,008
14Amortizable Intangible Assets, net1,2191,102
15Goodwill18,91617,534
16Other Indefinite-Lived Intangible Assets13,84713,699
17Investments in Noncontrolled Affiliates2,0381,985
18Deferred Income Taxes4,5414,362
19Other Assets8,9846,951
20Total Assets← Total assets107,39999,467
21LIABILITIES AND EQUITY
22Current Liabilities
23Short-term debt obligations6,8617,082
24Accounts payable and other current liabilities25,90324,454
25Total Current Liabilities32,76431,536
26Long-Term Debt Obligations42,32137,224
27Deferred Income Taxes3,8023,484
28Other Liabilities7,9659,052
29Total Liabilities← Total liabilities86,85281,296
30Commitments and contingencies
31PepsiCo Common Shareholders’ Equity
32Common stock, par value 12/3¢ per share (authorized 3,600 shares; issued, net of repurchased common stock at par value: 1,367 and 1,372 shares, respectively)2323
33Capital in excess of par value4,4514,385
34Retained earnings72,78872,266
35Accumulated other comprehensive loss(15,024)(17,612)
36Repurchased common stock, in excess of par value 500 and 495 shares, respectively)(41,832)(41,021)
37Total PepsiCo Common Shareholders’ Equity← Total shareholders' equity attributable to the company20,40618,041
38Noncontrolling interests141130
39Total Equity20,54718,171
40Total Liabilities and Equity107,39999,467

Cash flow statement

table #27 · current period is figure column 1
0202520242023
1Operating Activities
2Net income8,2959,6269,155
3Depreciation and amortization3,4513,1602,948
4Impairment and other charges1,9467141,230
5Product recall-related impact-187136
6Cash payments for product recall-related impact(6)(148)-
7Operating lease right-of-use asset amortization727655570
8Share-based compensation expense288362380
9Restructuring and impairment charges983727445
10Cash payments for restructuring charges(796)(436)(434)
11Acquisition and divestiture-related charges4532241
12Cash payments for acquisition and divestiture-related charges(228)(18)(41)
13Pension and retiree medical plan expenses504414150
14Pension and retiree medical plan contributions(472)(348)(410)
15Deferred income taxes and other tax charges and credits71(42)(271)
16Tax payments related to the TCJ Act(772)(579)(309)
17Change in assets and liabilities:
18Accounts and notes receivable(580)(138)(793)
19Inventories(150)(314)(261)
20Prepaid expenses and other current assets19540(13)
21Accounts payable and other current liabilities(677)(943)420
22Income taxes payable(433)(123)310
23Other, net(712)(311)189
24Net Cash Provided by Operating Activities← Net cash from operating activities12,08712,50713,442
25Investing Activities
26Capital spending(4,415)(5,318)(5,518)
27Sales of property, plant and equipment528342198
28Acquisitions, net of cash acquired, investments in noncontrolled affiliates and purchases of intangible and other assets(3,391)(256)(314)
29Divestitures, sales of investments in noncontrolled affiliates and other assets3916675
30Short-term investments, by original maturity:
31More than three months - purchases(190)(425)(555)
32More than three months - maturities605-556
33More than three months - sales--12
34Three months or less, net4553
35Other investing, net(100)1448
36Net Cash Used for Investing Activities← Net cash from investing activities(6,879)(5,472)(5,495)
37202520242023
38Financing Activities
39Proceeds from issuances of long-term debt8,1894,0425,482
40Payments of long-term debt(4,082)(3,886)(3,005)
41Short-term borrowings, by original maturity:
42More than three months - proceeds6,3915,7865,428
43More than three months - payments(7,920)(5,639)(3,106)
44Three months or less, net1,170392(29)
45Cash dividends paid(7,638)(7,229)(6,682)
46Share repurchases(1,000)(1,000)(1,000)
47Proceeds from exercises of stock options97166116
48Withholding tax payments on restricted stock units (RSUs) and performance stock units (PSUs) converted(113)(135)(140)
49Other financing(73)(53)(73)
50Net Cash Used for Financing Activities← Net cash from financing activities(4,979)(7,556)(3,009)
51Effect of exchange rate changes on cash and cash equivalents and restricted cash422(687)(277)
52Net Increase/(Decrease) in Cash and Cash Equivalents and Restricted Cash651(1,208)4,661
53Cash and Cash Equivalents and Restricted Cash, Beginning of Year8,5539,7615,100
54Cash and Cash Equivalents and Restricted Cash, End of Year9,2048,5539,761