Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Keurig Dr Pepper Inc., consolidated cash flow statement

US$ in millions

12 months ended:	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Net income attributable to KDP	2,146)	1,325)	1,254)	589)
Depreciation expense	410)	362)	358)	233)
Amortization of intangibles	134)	133)	126)	121)
Other amortization expense	164)	158)	214)	108)
Provision for sales returns	63)	54)	43)	54)
Deferred income taxes	31)	(51)	(23)	(81)
Employee stock-based compensation expense	88)	85)	64)	35)
Loss on early extinguishment of debt	105)	4)	11)	13)
Gain on sale of equity method investment	(524)	—)	—)	—)
Gain on step acquisition of unconsolidated subsidiaries	—)	—)	—)	(18)
(Gain) loss on disposal of property, plant and equipment	(75)	(36)	(14)	5)
Unrealized (gain) loss on foreign currency	9)	(1)	(24)	28)
Unrealized (gain) loss on derivatives	(70)	8)	36)	49)
Equity in losses of unconsolidated affiliates	5)	20)	51)	17)
Impairment of intangible assets	—)	67)	—)	—)
Impairment on investments and note receivable of unconsolidated affiliates	17)	102)	—)	—)
Other, net	20)	60)	12)	3)
Trade accounts receivable	(152)	(5)	(7)	82)
Inventories	(133)	(107)	(24)	185)
Income taxes receivable and payables, net	114)	(91)	36)	71)
Other current and non-current assets	(243)	(435)	(324)	(49)
Accounts payable and accrued expenses	762)	624)	583)	206)
Other current and non-current liabilities	3)	180)	102)	(38)
Net change in operating assets and liabilities	351)	166)	366)	457)
Adjustments to reconcile net income to net cash provided by operating activities	728)	1,131)	1,220)	1,024)
Net cash provided by operating activities	2,874)	2,456)	2,474)	1,613)
Proceeds from sale of investment in unconsolidated affiliates	578)	—)	—)	—)
Purchases of property, plant and equipment	(423)	(461)	(330)	(180)
Proceeds from sales of property, plant and equipment	122)	203)	247)	3)
Purchases of intangibles	(32)	(56)	(35)	—)
Acquisitions of businesses	—)	—)	(8)	(19,114)
Cash acquired in acquisitions	—)	—)	—)	169)
Issuance of related party note receivable	(19)	(6)	(32)	(11)
Investments in unconsolidated affiliates	—)	(5)	(16)	(39)
Proceeds from capital distributions from investments in unconsolidated affiliates	—)	—)	—)	35)
Other, net	(16)	9)	24)	6)
Net cash (used in) provided by investing activities	210)	(316)	(150)	(19,131)
Proceeds from issuance of Notes	2,150)	1,500)	—)	8,000)
Repayment of Notes	(3,595)	(250)	(250)	—)
Proceeds from issuance of commercial paper	5,406)	7,288)	16,197)	1,080)
Repayments of commercial paper	(5,257)	(8,534)	(16,030)	—)
Proceeds from KDP Revolver	—)	1,850)	—)	1,900)
Repayment of KDP Revolver	—)	(1,850)	—)	(1,900)
Proceeds from term loan	—)	—)	2,000)	2,700)
Repayments of term loan	(425)	(955)	(3,203)	(3,447)
Proceeds from issuance of common stock	140)	—)	—)	9,000)
Proceeds from structured payables	156)	171)	330)	526)
Payments on structured payables	(167)	(341)	(531)	—)
Cash dividends paid	(955)	(846)	(844)	(232)
Tax withholdings related to net share settlements	(125)	—)	—)	—)
Payments on finance leases	(54)	(52)	(38)	(17)
Cash contributions from redeemable non-controlling interest shareholders	—)	—)	—)	18)
Proceeds from controlling shareholder stock transactions	—)	29)	—)	—)
Other, net	(36)	—)	5)	(51)
Net cash provided by (used in) financing activities	(2,762)	(1,990)	(2,364)	17,577)
Effect of exchange rate changes	(9)	(6)	12)	(15)
Net change from operating, investing and financing activities	313)	144)	(28)	44)
Beginning of period	255)	111)	139)	95)
End of period	568)	255)	111)	139)

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).

Download chart

Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	Keurig Dr Pepper Inc. net cash provided by operating activities decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.
Net cash (used in) provided by investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	Keurig Dr Pepper Inc. net cash (used in) provided by investing activities decreased from 2019 to 2020 but then increased from 2020 to 2021 exceeding 2019 level.
Net cash provided by (used in) financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	Keurig Dr Pepper Inc. net cash provided by (used in) financing activities increased from 2019 to 2020 but then decreased significantly from 2020 to 2021.

Keurig Dr Pepper Inc. (NASDAQ:KDP)

Cash Flow Statement