PepsiCo, Inc. (PEP) FY2025 Q3 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2025-06-15 to 2025-09-06

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PepsiCo, Inc. cash flow reconciliation, Jun 15, 2025 through Sep 6, 2025One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Net income → Net cash from operating activities: $2,618,000,000.00Depreciation and amortization → Operating adjustments reconciliation: $824,000,000.00Accounts payable and other current liabilities → Operating adjustments reconciliation: $436,000,000.00Inventories → Operating adjustments reconciliation: $351,000,000.00Business Combination, Separately Recognized Transactions, Net Gains and Losses → Operating adjustments reconciliation: $308,000,000.00Deferred income taxes and other tax charges and credits → Operating adjustments reconciliation: $290,000,000.00Operating lease right-of-use asset amortization → Operating adjustments reconciliation: $174,000,000.00Restructuring and impairment charges → Operating adjustments reconciliation: $141,000,000.00Prepaid expenses and other current assets → Operating adjustments reconciliation: $131,000,000.00Impairment and other charges → Operating adjustments reconciliation: $100,000,000.00Share-based compensation expense → Operating adjustments reconciliation: $76,000,000.00Pension and retiree medical plan expenses → Operating adjustments reconciliation: $65,000,000.00Operating adjustments reconciliation → Net cash from operating activities: $1,854,000,000.00Operating adjustments reconciliation → Income taxes payable: $409,000,000.00Operating adjustments reconciliation → Other, net: $172,000,000.00Operating adjustments reconciliation → Cash payments for restructuring charges: $167,000,000.00Operating adjustments reconciliation → Accounts and notes receivable: $165,000,000.00Operating adjustments reconciliation → Payments for Merger Related Costs: $80,000,000.00Operating adjustments reconciliation → Pension and retiree medical plan contributions: $46,000,000.00Operating adjustments reconciliation → Payments for product recall-related impact: $3,000,000.00Sales of property, plant and equipment → investing reconciliation: $103,000,000.00Payments for (Proceeds from) Short-term investments, three months or less, net → investing reconciliation: $21,000,000.00investing reconciliation → Capital spending: $992,000,000.00investing reconciliation → Payments to Acquire Short-Term Investments: $190,000,000.00investing reconciliation → Acquisitions, net of cash acquired, investments in noncontrolled affiliates and purchases of intangible and other assets: $46,000,000.00investing reconciliation → Other investing, net: $6,000,000.00Net cash used in financing activities → financing reconciliation: $2,876,000,000.00Proceeds from issuances of long-term debt → financing reconciliation: $4,658,000,000.00More than three months - proceeds → financing reconciliation: $277,000,000.00Proceeds from exercises of stock options → financing reconciliation: $18,000,000.00financing reconciliation → More than three months - payments: $2,925,000,000.00financing reconciliation → Three months or less, net: $1,993,000,000.00financing reconciliation → Cash dividends paid: $1,949,000,000.00financing reconciliation → Payments of long-term debt: $702,000,000.00financing reconciliation → Share repurchases: $258,000,000.00financing reconciliation → Withholding tax payments on restricted stock units (RSUs) and performance stock units (PSUs) converted: $1,000,000.00financing reconciliation → Other financing: $1,000,000.00Net cash used in investing activities → investing reconciliation: $1,110,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $7,712,000,000.00Net cash from operating activities → Cash sources and uses: $4,472,000,000.00Cash sources and uses → Exchange-rate effect: $27,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $8,171,000,000.00Cash sources and uses → Net cash used in investing activities: $1,110,000,000.00Cash sources and uses → Net cash used in financing activities: $2,876,000,000.00Net income: $2,618,000,000.00Net income+$2.62 BDepreciation and amortization: $824,000,000.00Depreciation & amortization+$824.00 MImpairment and other charges: $100,000,000.00Impairment and other charges+$100.00 MProduct recall-related impact: $0.00Payments for product recall-related impact: -$3,000,000.00Payments for product recall-related impact−$3.00 MOperating lease right-of-use asset amortization: $174,000,000.00Operating lease amortization+$174.00 MShare-based compensation expense: $76,000,000.00Stock-based compensation+$76.00 MRestructuring and impairment charges: $141,000,000.00Restructuring & impairment+$141.00 MCash payments for restructuring charges: -$167,000,000.00Restructuring payments−$167.00 MBusiness Combination, Separately Recognized Transactions, Net Gains and Losses: $308,000,000.00Acquisition-related gain & loss+$308.00 MPayments for Merger Related Costs: -$80,000,000.00Deal-related charges paid−$80.00 MPension and retiree medical plan expenses: $65,000,000.00Pension & postretirement expense+$65.00 MPension and retiree medical plan contributions: -$46,000,000.00Pension & retiree contributions−$46.00 MDeferred income taxes and other tax charges and credits: $290,000,000.00Deferred taxes & credits+$290.00 MTax payments related to the Tax Cuts and Jobs Act (TCJ Act): $0.00Accounts and notes receivable: -$165,000,000.00Accounts & notes receivable−$165.00 MInventories: $351,000,000.00Inventories+$351.00 MPrepaid expenses and other current assets: $131,000,000.00Prepaid & other assets+$131.00 MAccounts payable and other current liabilities: $436,000,000.00Payables & accrued liabilities+$436.00 MIncome taxes payable: -$409,000,000.00Income taxes payable−$409.00 MOther, net: -$172,000,000.00Other operating, net−$172.00 MNet cash from operating activities: $4,472,000,000.00Operating cash+$4.47 BOperating adjustments reconciliation: $2,896,000,000.00Proceeds from issuances of long-term debt: $4,658,000,000.00Long-term debt issued+$4.66 BPayments of long-term debt: -$702,000,000.00Long-term debt repaid−$702.00 MMore than three months - proceeds: $277,000,000.00Short-term debt issued, 90+ days+$277.00 MMore than three months - payments: -$2,925,000,000.00Short-term debt repaid, 90+ days−$2.93 BThree months or less, net: -$1,993,000,000.00Short-term debt ≤3 months, net−$1.99 BCash dividends paid: -$1,949,000,000.00Dividends paid−$1.95 BShare repurchases: -$258,000,000.00Common stock repurchases−$258.00 MProceeds from exercises of stock options: $18,000,000.00Stock option exercises+$18.00 MWithholding tax payments on restricted stock units (RSUs) and performance stock units (PSUs) converted: -$1,000,000.00Stock-award tax withholding−$1.00 MOther financing: -$1,000,000.00Other financing, net−$1.00 MNet cash used in financing activities: -$2,876,000,000.00. Cash required to fund net payments.Financing cash−$2.88 Bfinancing reconciliation: $7,829,000,000.00Capital spending: -$992,000,000.00Capital expenditures−$992.00 MSales of property, plant and equipment: $103,000,000.00Asset sales+$103.00 MAcquisitions, net of cash acquired, investments in noncontrolled affiliates and purchases of intangible and other assets: -$46,000,000.00Acquisitions & investments, net−$46.00 MDivestitures, sales of investments in noncontrolled affiliates and other assets: $0.00Payments to Acquire Short-Term Investments: -$190,000,000.00Short-term investment purchases−$190.00 MMore than three months - maturities: $0.00Payments for (Proceeds from) Short-term investments, three months or less, net: $21,000,000.00Short-term investments, net+$21.00 MOther investing, net: -$6,000,000.00Other investing, net−$6.00 MNet cash used in investing activities: -$1,110,000,000.00. Cash required to fund net payments.Investing cash−$1.11 Binvesting reconciliation: $1,234,000,000.00Cash sources and uses: $12,184,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $7,712,000,000.00Beginning cash$7.71 BEnding cash: Cash, cash equivalents, and restricted cash: $8,171,000,000.00Ending cash$8.17 BExchange-rate effect: -$27,000,000.00FX effect−$27.00 MCASH RECONCILIATIONOperatingflowsInvestingflowsFinancingflowsFree cash flow$3.48 BOperating cash − cash spent on productive assetsCash flow / Net income1.71×Operating cash flow ÷ net incomeNet cash change+$459.00 MEnding cash − beginning cash
Chart details

PepsiCo, Inc. cash flow reconciliation, Jun 15, 2025 through Sep 6, 2025

Cash flows for Jun 15, 2025 through Sep 6, 2025. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Jun 14, 2025. Ending cash: Sep 6, 2025. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Jun 14, 2025
7,712,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
4,472,000,000 US dollars. Net cash provided.
Net income
2,618,000,000 US dollars
Depreciation and amortization
824,000,000 US dollars
Impairment and other charges
100,000,000 US dollars
Product recall-related impact
0 US dollars
Payments for product recall-related impact
negative 3,000,000 US dollars
Operating lease right-of-use asset amortization
174,000,000 US dollars
Share-based compensation expense
76,000,000 US dollars
Restructuring and impairment charges
141,000,000 US dollars
Cash payments for restructuring charges
negative 167,000,000 US dollars
Business Combination, Separately Recognized Transactions, Net Gains and Losses
308,000,000 US dollars
Payments for Merger Related Costs
negative 80,000,000 US dollars
Pension and retiree medical plan expenses
65,000,000 US dollars
Pension and retiree medical plan contributions
negative 46,000,000 US dollars
Deferred income taxes and other tax charges and credits
290,000,000 US dollars
Tax payments related to the Tax Cuts and Jobs Act (TCJ Act)
0 US dollars
Accounts and notes receivable
negative 165,000,000 US dollars
Inventories
351,000,000 US dollars
Prepaid expenses and other current assets
131,000,000 US dollars
Accounts payable and other current liabilities
436,000,000 US dollars
Income taxes payable
negative 409,000,000 US dollars
Other, net
negative 172,000,000 US dollars
Investing activities
negative 1,110,000,000 US dollars. Net cash used.
Capital spending
negative 992,000,000 US dollars
Sales of property, plant and equipment
103,000,000 US dollars
Acquisitions, net of cash acquired, investments in noncontrolled affiliates and purchases of intangible and other assets
negative 46,000,000 US dollars
Divestitures, sales of investments in noncontrolled affiliates and other assets
0 US dollars
Payments to Acquire Short-Term Investments
negative 190,000,000 US dollars
More than three months - maturities
0 US dollars
Payments for (Proceeds from) Short-term investments, three months or less, net
21,000,000 US dollars
Other investing, net
negative 6,000,000 US dollars
Financing activities
negative 2,876,000,000 US dollars. Net cash used.
Proceeds from issuances of long-term debt
4,658,000,000 US dollars
Payments of long-term debt
negative 702,000,000 US dollars
More than three months - proceeds
277,000,000 US dollars
More than three months - payments
negative 2,925,000,000 US dollars
Three months or less, net
negative 1,993,000,000 US dollars
Cash dividends paid
negative 1,949,000,000 US dollars
Share repurchases
negative 258,000,000 US dollars
Proceeds from exercises of stock options
18,000,000 US dollars
Withholding tax payments on restricted stock units (RSUs) and performance stock units (PSUs) converted
negative 1,000,000 US dollars
Other financing
negative 1,000,000 US dollars
Operating adjustment reconciliation
2,896,000,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
7,829,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
1,234,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
negative 27,000,000 US dollars
Ending cash on Sep 6, 2025
8,171,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
12,184,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
459,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
1.71×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
Operating cash flow
4,472,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
cash spent on productive assets
992,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
3,480,000,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $1.85B after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced cash receipts.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash spent on productive assets equals free cash flow: 4,472,000,000 US dollars minus 992,000,000 US dollars equals 3,480,000,000 US dollars.
PepsiCo, Inc. (PEP) FY2025 Q3 Statement of Cash Flows Sankey chart
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