Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

PepsiCo Inc., consolidated balance sheet: assets

US$ in millions

	Dec 28, 2024	Dec 30, 2023	Dec 31, 2022	Dec 25, 2021	Dec 26, 2020
Cash and cash equivalents	8,505)	9,711)	4,954)	5,596)	8,185)
Short-term investments	761)	292)	394)	392)	1,366)
Accounts and notes receivable, net	10,333)	10,815)	10,163)	8,680)	8,404)
Inventories	5,306)	5,334)	5,222)	4,347)	4,172)
Prepaid expenses and other current assets	921)	798)	806)	980)	874)
Assets held for sale	—)	—)	—)	1,788)	—)
Current assets	25,826)	26,950)	21,539)	21,783)	23,001)
Property, plant and equipment, net	28,008)	27,039)	24,291)	22,407)	21,369)
Amortizable intangible assets, net	1,102)	1,199)	1,277)	1,538)	1,703)
Goodwill	17,534)	17,728)	18,202)	18,381)	18,757)
Other indefinite-lived intangible assets	13,699)	13,730)	14,309)	17,127)	17,612)
Intangible assets	32,335)	32,657)	33,788)	37,046)	38,072)
Investments in noncontrolled affiliates	1,985)	2,714)	3,073)	2,350)	2,792)
Deferred income taxes	4,362)	4,474)	4,204)	4,310)	4,372)
Noncurrent notes and accounts receivable	111)	200)	202)	111)	109)
Deferred marketplace spending	100)	103)	123)	119)	130)
Pension plans	1,190)	1,057)	948)	1,260)	910)
Operating lease right-of-use assets	3,383)	2,905)	2,373)	2,020)	1,670)
Other investments	1,346)	1,616)	813)	277)	—)
Other	821)	780)	833)	694)	493)
Other assets	6,951)	6,661)	5,292)	4,481)	3,312)
Noncurrent assets	73,641)	73,545)	70,648)	70,594)	69,917)
Total assets	99,467)	100,495)	92,187)	92,377)	92,918)

Based on: 10-K (reporting date: 2024-12-28), 10-K (reporting date: 2023-12-30), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-25), 10-K (reporting date: 2020-12-26).

The financial data over the five-year period presents several notable trends and structural changes in the company's asset composition.

Liquidity and Current Assets: Cash and cash equivalents experienced a decline from 2020 through 2022, reaching the lowest level in 2022, before significantly increasing in 2023 and slightly decreasing in 2024, yet remaining above 2022 levels. Similarly, short-term investments decreased sharply from 2020 to 2023 but rebounded in 2024. Accounts and notes receivable, net, steadily increased annually until 2023, with a slight decrease in 2024. Inventories showed a consistent upward trend from 2020 to 2023, stabilizing slightly in 2024. Prepaid expenses and other current assets fluctuated moderately but exhibited an overall increase by 2024. The presence of assets held for sale was noted only in 2021, indicating a one-time adjustment. Overall, current assets fluctuated but trended upward, especially with a marked increase in 2023, indicative of enhanced short-term asset availability.
Long-Term and Noncurrent Assets: Property, plant, and equipment, net demonstrated a strong and consistent increase year-over-year, reflecting ongoing investment or asset growth. In contrast, amortizable intangible assets, net, showed a persistent decline, suggesting amortization or disposal of intangible assets. Goodwill decreased steadily each year, as did other indefinite-lived intangible assets, leading to a pronounced reduction in total intangible assets over the period. Investments in noncontrolled affiliates displayed volatility with a peak in 2022 before decreasing sharply by 2024. Deferred income taxes remained relatively stable throughout the period, showing minor fluctuations. Noncurrent notes and accounts receivable increased until 2022 then declined, while deferred marketplace spending steadily decreased over time. Pension plan assets rose notably in 2021, declined in 2022, then gradually increased through 2024. Operating lease right-of-use assets consistently increased each year, indicating growing lease commitments. Other investments showed a rising trend, particularly between 2021 and 2023, before a slight downturn in 2024. Other and other assets steadily increased year-over-year, contributing to overall growth in long-term asset holdings. Noncurrent assets demonstrated a gradual increase overall, reflecting expansion in the company's asset base beyond current assets.
Total Assets: Total assets experienced a slight downward movement from 2020 to 2022, with a notable increase in 2023, followed by a small decrease in 2024. The surge in 2023 aligns with the increases in both current and noncurrent assets, driven by higher cash balances, property and equipment, and other assets. The figures indicate a reinforcement of the asset base in the most recent years after a relatively stable or declining trend in the earlier part of the period.

Overall, the data reveals strategic asset growth focused on physical and long-term assets, a nuanced approach to managing liquidity, and a gradual reduction in intangible asset values. The increase in operating lease right-of-use assets suggests a shift towards leasing arrangements. The fluctuations in investments and receivables point to dynamic adjustments in financial management and operational credit terms. The notable increase in cash and cash equivalents and total asset base in 2023 indicates strengthened financial positioning during that year.

Assets: Selected Items

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Current Assets: Selected Items

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PepsiCo Inc. (NASDAQ:PEP)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items