Stock Analysis on Net
Stock Analysis on Net

PepsiCo Inc. (NASDAQ:PEP)

Income Statement
Quarterly Data

Beginner level

The income statement presents information on the financial results of a company’s business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

PepsiCo Inc., consolidated income statement (quarterly data)

US$ in millions

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3 months ended: Mar 21, 2020 Dec 28, 2019 Sep 7, 2019 Jun 15, 2019 Mar 23, 2019 Dec 29, 2018 Sep 8, 2018 Jun 16, 2018 Mar 24, 2018 Dec 30, 2017 Sep 9, 2017 Jun 17, 2017 Mar 25, 2017 Dec 31, 2016 Sep 3, 2016 Jun 11, 2016 Mar 19, 2016 Dec 26, 2015 Sep 5, 2015 Jun 13, 2015 Mar 21, 2015
Net revenue 13,881  20,640  17,188  16,449  12,884  19,524  16,485  16,090  12,562  19,526  16,240  15,710  12,049  19,515  16,027  15,395  11,862  18,585  16,331  15,923  12,217 
Cost of sales (6,127) (9,346) (7,694) (7,404) (5,688) (8,936) (7,527) (7,263) (5,655) (9,077) (7,366) (7,056) (5,286) (8,944) (7,284) (6,830) (5,151) (8,380) (7,395) (7,167) (5,442)
Gross profit 7,754  11,294  9,494  9,045  7,196  10,588  8,958  8,827  6,907  10,449  8,874  8,654  6,763  10,571  8,743  8,565  6,711  10,205  8,936  8,756  6,775 
Selling, general and administrative expenses (5,830) (8,595) (6,639) (6,316) (5,188) (8,157) (6,114) (5,799) (5,100) (7,856) (5,881) (5,664) (4,830) (8,190) (5,922) (5,601) (5,092) (7,965) (6,161) (5,856) (4,978)
Venezuela impairment charges —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  —  (1,359) —  — 
Operating profit 1,924  2,699  2,855  2,729  2,008  2,431  2,844  3,028  1,807  2,593  2,993  2,990  1,933  2,381  2,821  2,964  1,619  2,240  1,416  2,900  1,797 
Other pension and retiree medical benefits income 77  (207) 38  61  64  67  74  82  75  —  —  —  —  —  —  —  —  —  —  —  — 
Interest expense (290) (345) (262) (261) (267) (621) (302) (308) (294) (365) (269) (265) (252) (594) (247) (255) (246) (317) (225) (217) (211)
Interest income and other —  61  38  38  63  58  81  98  69  103  52  49  40  44  30  22  14  28  14  15 
Income before income taxes 1,711  2,208  2,669  2,567  1,868  1,935  2,697  2,900  1,657  2,331  2,776  2,774  1,721  1,831  2,604  2,731  1,387  1,951  1,193  2,697  1,601 
(Provision for) benefit from income taxes (360) (430) (559) (524) (446) 4,932  (188) (1,070) (304) (3,026) (620) (656) (392) (414) (600) (718) (442) (218) (650) (703) (370)
Net income 1,351  1,778  2,110  2,043  1,422  6,867  2,509  1,830  1,353  (695) 2,156  2,118  1,329  1,417  2,004  2,013  945  1,733  543  1,994  1,231 
Net income attributable to noncontrolling interests (13) (12) (10) (8) (9) (13) (11) (10) (10) (15) (12) (13) (11) (16) (12) (8) (14) (15) (10) (14) (10)
Net income attributable to PepsiCo 1,338  1,766  2,100  2,035  1,413  6,854  2,498  1,820  1,343  (710) 2,144  2,105  1,318  1,401  1,992  2,005  931  1,718  533  1,980  1,221 
Preferred shares, dividends and redemption premium —  —  —  —  —  —  —  —  (2) (1) (1) —  (2) (3) (1) (1) (1) (2) (2) (1) (1)
Net income available for PepsiCo common shareholders 1,338  1,766  2,100  2,035  1,413  6,854  2,498  1,820  1,341  (711) 2,143  2,105  1,316  1,398  1,991  2,004  930  1,716  531  1,979  1,220 

Based on: 10-Q (filing date: 2020-04-28), 10-K (filing date: 2020-02-13), 10-Q (filing date: 2019-10-03), 10-Q (filing date: 2019-07-09), 10-Q (filing date: 2019-04-17), 10-K (filing date: 2019-02-15), 10-Q (filing date: 2018-10-02), 10-Q (filing date: 2018-07-10), 10-Q (filing date: 2018-04-26), 10-K (filing date: 2018-02-13), 10-Q (filing date: 2017-10-04), 10-Q (filing date: 2017-07-11), 10-Q (filing date: 2017-04-26), 10-K (filing date: 2017-02-15), 10-Q (filing date: 2016-09-29), 10-Q (filing date: 2016-07-07), 10-Q (filing date: 2016-04-18), 10-K (filing date: 2016-02-11), 10-Q (filing date: 2015-10-06), 10-Q (filing date: 2015-07-09), 10-Q (filing date: 2015-04-23).

Income statement item Description The company
Net revenue Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. PepsiCo Inc.’s net revenue increased from Q3 2019 to Q4 2019 but then decreased significantly from Q4 2019 to Q1 2020.
Operating profit The net result for the period of deducting operating expenses from operating revenues. PepsiCo Inc.’s operating profit decreased from Q3 2019 to Q4 2019 and from Q4 2019 to Q1 2020.
Income before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. PepsiCo Inc.’s income before income taxes decreased from Q3 2019 to Q4 2019 and from Q4 2019 to Q1 2020.
Net income attributable to PepsiCo The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. PepsiCo Inc.’s net income attributable to PepsiCo decreased from Q3 2019 to Q4 2019 and from Q4 2019 to Q1 2020.