Adjustments to Current Assets
Adjustments to Total Assets
Adjustments to Current Liabilities
Adjustments to Total Liabilities
Adjustments to Stockholders’ Equity
Adjustments to Capitalization Table
Adjustments to Reported Income

Keurig Dr Pepper Inc., adjusted current assets

US$ in millions

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Current assets	3,057)	2,388)	2,273)	2,159)
Adjustments
Add: Allowance for expected credit losses	7)	21)	9)	8)
After Adjustment
Adjusted current assets	3,064)	2,409)	2,282)	2,167)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

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Keurig Dr Pepper Inc., adjusted total assets

US$ in millions

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Total assets	50,598)	49,779)	49,518)	48,918)
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)¹	—)	—)	—)	246)
Add: Allowance for expected credit losses	7)	21)	9)	8)
Less: Deferred tax assets²	42)	45)	29)	26)
After Adjustment
Adjusted total assets	50,563)	49,755)	49,498)	49,146)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

¹ Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

² Deferred tax assets. See details »

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Keurig Dr Pepper Inc., adjusted current liabilities

US$ in millions

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Current liabilities	6,485)	7,694)	6,474)	5,702)
Adjustments
Less: Current product warranties	13)	10)	8)	8)
Less: Current restructuring liabilities	19)	14)	15)	29)
After Adjustment
Adjusted current liabilities	6,453)	7,670)	6,451)	5,665)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

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Keurig Dr Pepper Inc., adjusted total liabilities

US$ in millions

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Total liabilities	25,626)	25,949)	26,261)	26,385)
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	246)
Less: Deferred tax liabilities²	5,986)	5,993)	6,030)	5,923)
Less: Product warranties	13)	10)	8)	8)
Less: Restructuring liabilities	19)	14)	15)	29)
After Adjustment
Adjusted total liabilities	19,608)	19,932)	20,208)	20,671)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Deferred tax liabilities. See details »

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Keurig Dr Pepper Inc., adjusted stockholders’ equity

US$ in millions

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Stockholders’ equity	24,972)	23,829)	23,257)	22,533)
Adjustments
Less: Net deferred tax assets (liabilities)¹	(5,944)	(5,948)	(6,001)	(5,897)
Add: Allowance for expected credit losses	7)	21)	9)	8)
Add: Product warranties	13)	10)	8)	8)
Add: Restructuring liabilities	19)	14)	15)	29)
Add: Non-controlling interest	—)	1)	—)	—)
After Adjustment
Adjusted total equity	30,955)	29,823)	29,290)	28,475)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

¹ Net deferred tax assets (liabilities). See details »

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Keurig Dr Pepper Inc., adjusted capitalization table

US$ in millions

	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Short-term borrowings and current portion of long-term obligations	304)	2,345)	1,593)	1,458)
Current finance lease liability	79)	44)	41)	26)
Long-term obligations, excluding current portion	11,578)	11,143)	12,827)	14,201)
Non-current finance lease liability	621)	298)	269)	305)
Total reported debt	12,582)	13,830)	14,730)	15,990)
Stockholders’ equity	24,972)	23,829)	23,257)	22,533)
Total reported capital	37,554)	37,659)	37,987)	38,523)
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	246)
Add: Current operating lease liability²	76)	72)	69)	—)
Add: Non-current operating lease liability³	608)	580)	427)	—)
Adjusted total debt	13,266)	14,482)	15,226)	16,236)
Adjustments to Equity
Less: Net deferred tax assets (liabilities)⁴	(5,944)	(5,948)	(6,001)	(5,897)
Add: Allowance for expected credit losses	7)	21)	9)	8)
Add: Product warranties	13)	10)	8)	8)
Add: Restructuring liabilities	19)	14)	15)	29)
Add: Non-controlling interest	—)	1)	—)	—)
Adjusted total equity	30,955)	29,823)	29,290)	28,475)
After Adjustment
Adjusted total capital	44,221)	44,305)	44,516)	44,711)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Current operating lease liability. See details »

³ Non-current operating lease liability. See details »

⁴ Net deferred tax assets (liabilities). See details »

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Keurig Dr Pepper Inc., adjusted net income attributable to KDP

US$ in millions

12 months ended:	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Net income attributable to KDP	2,146)	1,325)	1,254)	586)
Adjustments
Add: Deferred income tax expense (benefit)¹	31)	(51)	(23)	(81)
Add: Increase (decrease) in allowance for expected credit losses	(14)	12)	1)	6)
Add: Increase (decrease) in product warranties	3)	2)	—)	(5)
Add: Increase (decrease) in restructuring liabilities	5)	(1)	(14)	25)
Add: Other comprehensive income (loss)	(103)	(27)	234)	(229)
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest	(1)	—)	—)	3)
After Adjustment
Adjusted net income including non-controlling interest	2,067)	1,260)	1,452)	305)

Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

¹ Deferred income tax expense (benefit). See details »

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Keurig Dr Pepper Inc. (NASDAQ:KDP)

Adjustments to Financial Statements

Adjustments to Current Assets

Adjustments to Total Assets

Adjustments to Current Liabilities

Adjustments to Total Liabilities

Adjustments to Stockholders’ Equity

Adjustments to Capitalization Table

Adjustments to Reported Income