PepsiCo, Inc. (PEP) FY2026 Q1 Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2025-12-28 to 2026-03-21

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PepsiCo, Inc. cash flow reconciliation, Dec 28, 2025 through Mar 21, 2026One 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: $41,000,000.00Net income → Operating adjustments reconciliation: $2,297,000,000.00Depreciation and amortization → Operating adjustments reconciliation: $742,000,000.00Deferred income taxes and other tax charges and credits → Operating adjustments reconciliation: $226,000,000.00Operating lease right-of-use asset amortization → Operating adjustments reconciliation: $162,000,000.00Restructuring and impairment charges → Operating adjustments reconciliation: $133,000,000.00Income taxes payable → Operating adjustments reconciliation: $131,000,000.00Share-based compensation expense → Operating adjustments reconciliation: $93,000,000.00Pension and retiree medical plan expenses → Operating adjustments reconciliation: $13,000,000.00Operating adjustments reconciliation → Accounts payable and other current liabilities: $1,847,000,000.00Operating adjustments reconciliation → Accounts and notes receivable: $530,000,000.00Operating adjustments reconciliation → Prepaid expenses and other current assets: $406,000,000.00Operating adjustments reconciliation → Inventories: $315,000,000.00Operating adjustments reconciliation → Pension and retiree medical plan contributions: $270,000,000.00Operating adjustments reconciliation → Other, net: $157,000,000.00Operating adjustments reconciliation → Cash payments for restructuring charges: $145,000,000.00Operating adjustments reconciliation → Acquisition and divestiture-related charges/credits: $113,000,000.00Operating adjustments reconciliation → Payments for Merger Related Costs: $14,000,000.00Proceeds from issuances of long-term debt → financing reconciliation: $2,964,000,000.00More than three months - proceeds → financing reconciliation: $1,937,000,000.00Three months or less, net → financing reconciliation: $1,198,000,000.00Proceeds from exercises of stock options → financing reconciliation: $93,000,000.00financing reconciliation → Net cash from financing activities: $1,662,000,000.00financing reconciliation → Cash dividends paid: $1,966,000,000.00financing reconciliation → Payments of long-term debt: $1,629,000,000.00financing reconciliation → More than three months - payments: $676,000,000.00financing reconciliation → Share repurchases: $182,000,000.00financing reconciliation → Withholding tax payments on restricted stock units (RSUs) and performance stock units (PSUs) converted: $76,000,000.00financing reconciliation → Other financing: $1,000,000.00Net cash used in investing activities → investing reconciliation: $477,000,000.00Other investing, net → investing reconciliation: $19,000,000.00Proceeds from Sale of Debt Securities, Available-for-Sale → investing reconciliation: $14,000,000.00Sales of property, plant and equipment → investing reconciliation: $13,000,000.00investing reconciliation → Capital spending: $447,000,000.00investing reconciliation → Acquisitions, net of cash acquired, investments in noncontrolled affiliates and purchases of intangible and other assets: $67,000,000.00investing reconciliation → Payments for (Proceeds from) Short-term investments, three months or less, net: $9,000,000.00Exchange-rate effect → Cash sources and uses: $121,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $9,204,000,000.00Net cash from operating activities → Cash sources and uses: $41,000,000.00Net cash from financing activities → Cash sources and uses: $1,662,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $10,551,000,000.00Cash sources and uses → Net cash used in investing activities: $477,000,000.00Net income: $2,338,000,000.00Net income+$2.34 BDepreciation and amortization: $742,000,000.00Depreciation & amortization+$742.00 MOperating lease right-of-use asset amortization: $162,000,000.00Operating lease amortization+$162.00 MShare-based compensation expense: $93,000,000.00Stock-based compensation+$93.00 MRestructuring and impairment charges: $133,000,000.00Restructuring & impairment+$133.00 MCash payments for restructuring charges: -$145,000,000.00Restructuring payments−$145.00 MAcquisition and divestiture-related charges/credits: -$113,000,000.00Acquisition-related gain & loss−$113.00 MPayments for Merger Related Costs: -$14,000,000.00Deal-related charges paid−$14.00 MPension and retiree medical plan expenses: $13,000,000.00Pension & postretirement expense+$13.00 MPension and retiree medical plan contributions: -$270,000,000.00Pension & retiree contributions−$270.00 MDeferred income taxes and other tax charges and credits: $226,000,000.00Deferred taxes & credits+$226.00 MAccounts and notes receivable: -$530,000,000.00Accounts & notes receivable−$530.00 MInventories: -$315,000,000.00Inventories−$315.00 MPrepaid expenses and other current assets: -$406,000,000.00Prepaid & other assets−$406.00 MAccounts payable and other current liabilities: -$1,847,000,000.00Payables & accrued liabilities−$1.85 BIncome taxes payable: $131,000,000.00Income taxes payable+$131.00 MOther, net: -$157,000,000.00Other operating, net−$157.00 MNet cash from operating activities: $41,000,000.00Operating cash+$41.00 MOperating adjustments reconciliation: $3,797,000,000.00Proceeds from issuances of long-term debt: $2,964,000,000.00Long-term debt issued+$2.96 BPayments of long-term debt: -$1,629,000,000.00Long-term debt repaid−$1.63 BMore than three months - proceeds: $1,937,000,000.00Short-term debt issued, 90+ days+$1.94 BMore than three months - payments: -$676,000,000.00Short-term debt repaid, 90+ days−$676.00 MThree months or less, net: $1,198,000,000.00Short-term debt ≤3 months, net+$1.20 BCash dividends paid: -$1,966,000,000.00Dividends paid−$1.97 BShare repurchases: -$182,000,000.00Common stock repurchases−$182.00 MProceeds from exercises of stock options: $93,000,000.00Stock option exercises+$93.00 MWithholding tax payments on restricted stock units (RSUs) and performance stock units (PSUs) converted: -$76,000,000.00Stock-award tax withholding−$76.00 MOther financing: -$1,000,000.00Other financing, net−$1.00 MNet cash from financing activities: $1,662,000,000.00Financing cash+$1.66 Bfinancing reconciliation: $6,192,000,000.00Capital spending: -$447,000,000.00Capital expenditures−$447.00 MSales of property, plant and equipment: $13,000,000.00Asset sales+$13.00 MAcquisitions, net of cash acquired, investments in noncontrolled affiliates and purchases of intangible and other assets: -$67,000,000.00Acquisitions & investments, net−$67.00 MMore than three months - maturities: $0.00Proceeds from Sale of Debt Securities, Available-for-Sale: $14,000,000.00AFS securities sales+$14.00 MPayments for (Proceeds from) Short-term investments, three months or less, net: -$9,000,000.00Short-term investments, net−$9.00 MOther investing, net: $19,000,000.00Other investing, net+$19.00 MNet cash used in investing activities: -$477,000,000.00. Cash required to fund net payments.Investing cash−$477.00 Minvesting reconciliation: $523,000,000.00Cash sources and uses: $11,028,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $9,204,000,000.00Beginning cash$9.20 BEnding cash: Cash, cash equivalents, and restricted cash: $10,551,000,000.00Ending cash$10.55 BExchange-rate effect: $121,000,000.00FX effect+$121.00 MCASH RECONCILIATIONOperatingflowsFinancingflowsInvestingflowsFree cash flow−$406.00 MOperating cash − cash spent on productive assetsCash flow / Net income0.02×Operating cash flow ÷ net incomeNet cash change+$1.35 BEnding cash − beginning cash
Chart details

PepsiCo, Inc. cash flow reconciliation, Dec 28, 2025 through Mar 21, 2026

Cash flows for Dec 28, 2025 through Mar 21, 2026. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 27, 2025. Ending cash: Mar 21, 2026. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 27, 2025
9,204,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
41,000,000 US dollars. Net cash provided.
Net income
2,338,000,000 US dollars
Depreciation and amortization
742,000,000 US dollars
Operating lease right-of-use asset amortization
162,000,000 US dollars
Share-based compensation expense
93,000,000 US dollars
Restructuring and impairment charges
133,000,000 US dollars
Cash payments for restructuring charges
negative 145,000,000 US dollars
Acquisition and divestiture-related charges/credits
negative 113,000,000 US dollars
Payments for Merger Related Costs
negative 14,000,000 US dollars
Pension and retiree medical plan expenses
13,000,000 US dollars
Pension and retiree medical plan contributions
negative 270,000,000 US dollars
Deferred income taxes and other tax charges and credits
226,000,000 US dollars
Accounts and notes receivable
negative 530,000,000 US dollars
Inventories
negative 315,000,000 US dollars
Prepaid expenses and other current assets
negative 406,000,000 US dollars
Accounts payable and other current liabilities
negative 1,847,000,000 US dollars
Income taxes payable
131,000,000 US dollars
Other, net
negative 157,000,000 US dollars
Investing activities
negative 477,000,000 US dollars. Net cash used.
Capital spending
negative 447,000,000 US dollars
Sales of property, plant and equipment
13,000,000 US dollars
Acquisitions, net of cash acquired, investments in noncontrolled affiliates and purchases of intangible and other assets
negative 67,000,000 US dollars
More than three months - maturities
0 US dollars
Proceeds from Sale of Debt Securities, Available-for-Sale
14,000,000 US dollars
Payments for (Proceeds from) Short-term investments, three months or less, net
negative 9,000,000 US dollars
Other investing, net
19,000,000 US dollars
Financing activities
1,662,000,000 US dollars. Net cash provided.
Proceeds from issuances of long-term debt
2,964,000,000 US dollars
Payments of long-term debt
negative 1,629,000,000 US dollars
More than three months - proceeds
1,937,000,000 US dollars
More than three months - payments
negative 676,000,000 US dollars
Three months or less, net
1,198,000,000 US dollars
Cash dividends paid
negative 1,966,000,000 US dollars
Share repurchases
negative 182,000,000 US dollars
Proceeds from exercises of stock options
93,000,000 US dollars
Withholding tax payments on restricted stock units (RSUs) and performance stock units (PSUs) converted
negative 76,000,000 US dollars
Other financing
negative 1,000,000 US dollars
Operating adjustment reconciliation
3,797,000,000 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
6,192,000,000 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
523,000,000 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
121,000,000 US dollars
Ending cash on Mar 21, 2026
10,551,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
11,028,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
1,347,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
0.02×. 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
41,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
cash spent on productive assets
447,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
negative 406,000,000 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 exceeds operating cash. The diagram allocates $41.00M of net income directly to operating cash and $2.30B to the adjustment junction, where it combines with other additions to reconcile deductions. This is an accounting presentation, not a tracing of 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: 41,000,000 US dollars minus 447,000,000 US dollars equals negative 406,000,000 US dollars.
PepsiCo, Inc. (PEP) FY2026 Q1 Statement of Cash Flows Sankey chart
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