PepsiCo (PEP) 10-Q10 Jul 242024 Q2 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 15, 2024	Jul. 05, 2024
Document and Entity Information [Line Items]
Document Type	10-Q
Document Period End Date	Jun. 15, 2024
Entity File Number	1-1183
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Registrant Name	PepsiCo, Inc.
Entity Incorporation, State or Country Code	NC
Entity Address, City or Town	Purchase
Entity Address, State or Province	NY
Entity Tax Identification Number	13-1584302
Entity Address, Address Line One	700 Anderson Hill Road
Entity Address, Postal Zip Code	10577
City Area Code	914
Local Phone Number	253-2000
Entity Common Stock, Shares Outstanding		1,373,572,400
Entity Central Index Key	0000077476
Current Fiscal Year End Date	--12-28
Document Fiscal Year Focus	2024
Entity Filer Category	Large Accelerated Filer
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Common Stock
Document and Entity Information [Line Items]
Title of 12(b) Security	Common Stock, par value 1-2/3 cents per share
Trading Symbol	PEP
Name of Exchange on which Security is Registered	NASDAQ
2.625% Senior Notes Due 2026
Document and Entity Information [Line Items]
Title of 12(b) Security	2.625% Senior Notes Due 2026
Trading Symbol	PEP26
Name of Exchange on which Security is Registered	NASDAQ
0.750% Senior Notes Due 2027
Document and Entity Information [Line Items]
Title of 12(b) Security	0.750% Senior Notes Due 2027
Trading Symbol	PEP27
Name of Exchange on which Security is Registered	NASDAQ
0.875% Senior Notes Due 2028
Document and Entity Information [Line Items]
Title of 12(b) Security	0.875% Senior Notes Due 2028
Trading Symbol	PEP28
Name of Exchange on which Security is Registered	NASDAQ
0.500% Senior Notes Due 2028
Document and Entity Information [Line Items]
Title of 12(b) Security	0.500% Senior Notes Due 2028
Trading Symbol	PEP28A
Name of Exchange on which Security is Registered	NASDAQ
3.200% Senior Notes Due 2029
Document and Entity Information [Line Items]
Title of 12(b) Security	3.200% Senior Notes Due 2029
Trading Symbol	PEP29
Name of Exchange on which Security is Registered	NASDAQ
1.125% Senior Notes Due 2031
Document and Entity Information [Line Items]
Title of 12(b) Security	1.125% Senior Notes Due 2031
Trading Symbol	PEP31
Name of Exchange on which Security is Registered	NASDAQ
0.400% Senior Notes Due 2032
Document and Entity Information [Line Items]
Title of 12(b) Security	0.400% Senior Notes Due 2032
Trading Symbol	PEP32
Name of Exchange on which Security is Registered	NASDAQ
0.750% Senior Notes Due 2033
Document and Entity Information [Line Items]
Title of 12(b) Security	0.750% Senior Notes Due 2033
Trading Symbol	PEP33
Name of Exchange on which Security is Registered	NASDAQ
3.550% Senior Notes Due 2034
Document and Entity Information [Line Items]
Title of 12(b) Security	3.550% Senior Notes Due 2034
Trading Symbol	PEP34
Name of Exchange on which Security is Registered	NASDAQ
0.875% Senior Notes Due 2039
Document and Entity Information [Line Items]
Title of 12(b) Security	0.875% Senior Notes Due 2039
Trading Symbol	PEP39
Name of Exchange on which Security is Registered	NASDAQ
1.050% Senior Notes Due 2050
Document and Entity Information [Line Items]
Title of 12(b) Security	1.050% Senior Notes Due 2050
Trading Symbol	PEP50
Name of Exchange on which Security is Registered	NASDAQ

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENT OF INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 15, 2024	Jun. 17, 2023	Jun. 15, 2024	Jun. 17, 2023
Net Revenue	$ 22,501	$ 22,322	$ 40,751	$ 40,168
Cost of sales	9,919	10,121	18,167	18,109
Gross profit	12,582	12,201	22,584	22,059
Selling, general and administrative expenses	8,534	8,542	15,819	15,771
Operating Profit	4,048	3,659	6,765	6,288
Other pension and retiree medical benefits income	56	60	114	121
Net interest expense and other	(234)	(201)	(436)	(401)
Income before income taxes	3,870	3,518	6,443	6,008
Provision for income taxes	776	747	1,296	1,293
Net income	3,094	2,771	5,147	4,715
Net Income (Loss) Attributable to Noncontrolling Interest	11	23	22	35
Net Income Attributable to PepsiCo	$ 3,083	$ 2,748	$ 5,125	$ 4,680
Earnings Per Share [Abstract]
Earnings Per Share, Basic (in USD per share)	$ 2.24	$ 1.99	$ 3.73	$ 3.40
Earnings Per Share, Diluted (in USD per share)	$ 2.23	$ 1.99	$ 3.71	$ 3.38
Weighted-average common shares outstanding
Weighted Average Number of Shares Outstanding, Basic (in shares)	1,375	1,378	1,375	1,378
Weighted Average Number of Shares Outstanding, Diluted (in shares)	1,379	1,384	1,380	1,384

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 15, 2024	Jun. 17, 2023	Jun. 15, 2024	Jun. 17, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 3,094	$ 2,771	$ 5,147	$ 4,715
Net currency translation adjustment	(267)	(198)	(449)	(433)
Net change on cash flow hedges	42	24	45	(35)
Net pension and retiree medical adjustments	9	(6)	20	(10)
Net change on available-for-sale debt securities and other	(391)	1	132	0
Other comprehensive loss, net of taxes:	(607)	(179)	(252)	(478)
Comprehensive income	2,487	2,592	4,895	4,237
Less: Comprehensive income attributable to noncontrolling interests	11	23	22	35
Comprehensive Income Attributable to PepsiCo	$ 2,476	$ 2,569	$ 4,873	$ 4,202

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 15, 2024	Jun. 17, 2023
Operating Activities
Net income	$ 5,147	$ 4,715
Depreciation and amortization	1,379	1,268
Impairment and other (credits)/charges	0	97
Product recall-related impact	182	0
Operating lease right-of-use asset amortization	278	248
Share-based compensation expense	183	179
Restructuring and impairment charges	170	204
Cash payments for restructuring charges	(173)	(187)
Payments for product recall-related impact	(135)	0
Pension and retiree medical plan expenses	67	62
Pension and retiree medical plan contributions	(263)	(209)
Deferred income taxes and other tax charges and credits	142	270
Tax payments related to the Tax Cuts and Jobs Act (TCJ Act)	(579)	(309)
Change in assets and liabilities:
Accounts and notes receivable	(1,138)	(1,330)
Inventories	(696)	(851)
Prepaid expenses and other current assets	(365)	(271)
Accounts payable and other current liabilities	(2,968)	(1,960)
Income taxes payable	287	100
Other, net	(203)	(7)
Net Cash Provided by Operating Activities	1,315	2,019
Investing Activities
Capital spending	(1,701)	(1,513)
Sales of property, plant and equipment	127	122
Acquisitions, net of cash acquired, investments in noncontrolled affiliates and purchases of intangible and other assets	(30)	(83)
Other divestitures, sales of investments in noncontrolled affiliates and other assets	135	75
Short-term investments, by original maturity:
More than three months - purchases	0	(435)
More than three months - maturities	0	363
Three months or less, net	1	16
Other investing, net	14	32
Net Cash Used for Investing Activities	(1,454)	(1,423)
Financing Activities
Proceeds from issuances of long-term debt	1,765	2,986
Payments of long-term debt	(2,882)	(2,252)
Short-term borrowings, by original maturity:
More than three months - proceeds	3,080	1,660
More than three months - payments	(2,138)	(26)
Three months or less, net	1,286	2,023
Cash dividends paid	(3,506)	(3,199)
Share repurchases	(461)	(453)
Proceeds from exercises of stock options	107	86
Withholding tax payments on restricted stock units (RSUs) and performance stock units (PSUs) converted	(131)	(119)
Other financing	(20)	(16)
Net Cash (Used for)/Provided by Financing Activities	(2,900)	690
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(304)	(144)
Net (Decrease)/Increase in Cash and Cash Equivalents and Restricted Cash	(3,343)	1,142
Cash and Cash Equivalents and Restricted Cash, Beginning of Year	9,761	5,100
Cash and Cash Equivalents and Restricted Cash, End of Period	6,418	6,242
Supplemental Non-Cash Activity
Right-of-use assets obtained in exchange for lease obligations	541	439
Debt discharged via legal defeasance	$ 0	$ 94

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEET - USD ($) shares in Millions, $ in Millions	Jun. 15, 2024	Dec. 30, 2023
Current Assets
Cash and cash equivalents	$ 6,353	$ 9,711
Short-term investments	315	292
Accounts and Financing Receivable, after Allowance for Credit Loss, Current	11,942	10,815
Inventories:
Raw materials and packaging	2,635	2,388
Work-in-process	121	104
Finished goods	3,131	2,842
Inventory, Net, Total	5,887	5,334
Prepaid expenses and other current assets	1,206	798
Total Current Assets	25,703	26,950
Property, plant and equipment	55,040	54,439
Accumulated depreciation	(27,998)	(27,400)
Property, Plant and Equipment, net	27,042	27,039
Amortizable Intangible Assets, net	1,151	1,199
Goodwill	17,648	17,728
Other Indefinite-Lived Intangible Assets	13,675	13,730
Investments in Noncontrolled Affiliates	2,674	2,714
Deferred Income Taxes	4,465	4,474
Other Assets	7,175	6,661
Total Assets	99,533	100,495
Current Liabilities
Short-term debt obligations	8,289	6,510
Accounts payable and other current liabilities	22,859	25,137
Total Current Liabilities	31,148	31,647
Long-Term Debt Obligations	36,638	37,595
Deferred Income Taxes	3,908	3,895
Other Liabilities	8,259	8,721
Total Liabilities	$ 79,953	$ 81,858
Common stock, issued (in shares)	1,374	1,374
PepsiCo Common Shareholders’ Equity
Common stock, par value 12/3¢ per share (authorized 3,600 shares; issued, net of repurchased common stock at par value: 1,374 shares)	$ 23	$ 23
Capital in excess of par value	4,203	4,261
Retained earnings	71,545	70,035
Accumulated other comprehensive loss	(15,786)	(15,534)
Repurchased common stock, in excess of par value (493 shares)	(40,539)	(40,282)
Total PepsiCo Common Shareholders’ Equity	19,446	18,503
Noncontrolling interests	134	134
Total Equity	19,580	18,637
Total Liabilities and Equity	$ 99,533	$ 100,495
Treasury Stock, Common, Shares	493	493

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEET (Parenthetical) - USD ($) shares in Thousands, $ in Millions	Jun. 15, 2024	Dec. 30, 2023
Statement of Financial Position [Abstract]
Accounts and notes receivable, allowance	$ 180	$ 175
Common stock, par value (in USD per share)	$ 0.0167	$ 0.0167
Common stock, authorized (in shares)	3,600,000	3,600,000
Common stock, issued (in shares)	1,374,000	1,374,000
Treasury Stock, Common, Shares	493,000	493,000

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENT OF EQUITY - USD ($) shares in Millions, $ in Millions		Total	Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Loss	Total PepsiCo Common Shareholders’ Equity	Noncontrolling Interests	Treasury Stock, Common
Common stock, dividends, declared (in USD per share)		$ 2.415
Balance, beginning of period, shares (in shares) at Dec. 31, 2022			1,377
Balance, beginning of period at Dec. 31, 2022			$ 23	$ 4,134	$ 67,800	$ (15,302)		$ 124	$ (39,506)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Changes in repurchased common stock (in shares)			0						(3)
Change in repurchased common stock			$ 0
Share-based compensation expense				179
Stock option exercises, RSUs and PSUs converted				(111)					$ 197
Withholding tax on RSUs and PSUs converted				(119)
Other				(1)
Net income attributable to PepsiCo		$ 4,680			4,680
Cash dividends declared - common	[1]				(3,345)
Other comprehensive loss attributable to PepsiCo						(478)
Balance, beginning of period, shares issued (in shares) at Dec. 31, 2022									(490)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock option exercises, RSUs and PSUs converted (in shares)									3
Other (in shares)									0
Share repurchases									$ (466)
Balance, end of period, shares issued (in shares) at Jun. 17, 2023									(490)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to noncontrolling interest		35						35
Distributions to noncontrolling interests								(15)
Other, net								(4)	$ 0
Balance, end of period, shares (in shares) at Jun. 17, 2023			1,377
Balance, end of period at Jun. 17, 2023		$ 17,825	$ 23	4,082	69,135	(15,780)	$ 17,685	140	(39,775)
Common stock, dividends, declared (in USD per share)		$ 1.265
Balance, beginning of period, shares (in shares) at Mar. 25, 2023			1,378
Balance, beginning of period at Mar. 25, 2023			$ 23	3,996	68,142	(15,601)		133	$ (39,518)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Changes in repurchased common stock (in shares)			(1)						(2)
Change in repurchased common stock			$ 0
Share-based compensation expense				85
Stock option exercises, RSUs and PSUs converted				5					$ 35
Withholding tax on RSUs and PSUs converted				(3)
Other				(1)
Net income attributable to PepsiCo		$ 2,748			2,748
Cash dividends declared - common	[1]				(1,755)
Other comprehensive loss attributable to PepsiCo						(179)
Balance, beginning of period, shares issued (in shares) at Mar. 25, 2023									(489)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock option exercises, RSUs and PSUs converted (in shares)									1
Other (in shares)									0
Share repurchases									$ (292)
Balance, end of period, shares issued (in shares) at Jun. 17, 2023									(490)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to noncontrolling interest		23						23
Distributions to noncontrolling interests								(14)
Other, net								(2)	$ 0
Balance, end of period, shares (in shares) at Jun. 17, 2023			1,377
Balance, end of period at Jun. 17, 2023		$ 17,825	$ 23	4,082	69,135	(15,780)	17,685	140	(39,775)
Common stock, dividends, declared (in USD per share)		$ 2.62
Balance, beginning of period, shares (in shares) at Dec. 30, 2023			1,374
Balance, beginning of period at Dec. 30, 2023		$ 18,637	$ 23	4,261	70,035	(15,534)		134	$ (40,282)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Changes in repurchased common stock (in shares)			0						(3)
Change in repurchased common stock			$ 0
Share-based compensation expense				179
Stock option exercises, RSUs and PSUs converted				(104)					$ 210
Withholding tax on RSUs and PSUs converted				(131)
Other				(2)
Net income attributable to PepsiCo		5,125			5,125
Cash dividends declared - common	[1]				(3,615)
Other comprehensive loss attributable to PepsiCo						(252)
Balance, beginning of period, shares issued (in shares) at Dec. 30, 2023									(493)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock option exercises, RSUs and PSUs converted (in shares)									3
Other (in shares)									0
Share repurchases									$ (468)
Balance, end of period, shares issued (in shares) at Jun. 15, 2024									(493)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to noncontrolling interest		22						22
Distributions to noncontrolling interests								(17)
Other, net								(5)	$ 1
Balance, end of period, shares (in shares) at Jun. 15, 2024			1,374
Balance, end of period at Jun. 15, 2024		$ 19,580	$ 23	4,203	71,545	(15,786)	19,446	134	(40,539)
Common stock, dividends, declared (in USD per share)		$ 1.355
Balance, beginning of period, shares (in shares) at Mar. 23, 2024			1,375
Balance, beginning of period at Mar. 23, 2024			$ 23	4,132	70,331	(15,179)		143	$ (40,260)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Changes in repurchased common stock (in shares)			(1)						(2)
Change in repurchased common stock			$ 0
Share-based compensation expense				87
Stock option exercises, RSUs and PSUs converted				9					$ 31
Withholding tax on RSUs and PSUs converted				(23)
Other				(2)
Net income attributable to PepsiCo		$ 3,083			3,083
Cash dividends declared - common	[1]				(1,869)
Other comprehensive loss attributable to PepsiCo						(607)
Balance, beginning of period, shares issued (in shares) at Mar. 23, 2024									(492)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock option exercises, RSUs and PSUs converted (in shares)									1
Other (in shares)									0
Share repurchases									$ (310)
Balance, end of period, shares issued (in shares) at Jun. 15, 2024									(493)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to noncontrolling interest		11						11
Distributions to noncontrolling interests								(16)
Other, net								(4)	$ 0
Balance, end of period, shares (in shares) at Jun. 15, 2024			1,374
Balance, end of period at Jun. 15, 2024		$ 19,580	$ 23	$ 4,203	$ 71,545	$ (15,786)	$ 19,446	$ 134	$ (40,539)

[1] Cash dividends declared per common share were $1.355 and $1.265 for the 12 weeks ended June 15, 2024 and June 17, 2023, respectively, and $2.62 and $2.415 for the 24 weeks ended June 15, 2024 and June 17, 2023, respectively.

Basis of Presentation and Our D

Basis of Presentation and Our Divisions	6 Months Ended
Basis of Presentation and Our Divisions	Jun. 15, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Other Divisions	Basis of Presentation and Our Divisions Basis of Presentation When used in this report, the terms “we,” “us,” “our,” “PepsiCo” and the “Company” mean PepsiCo, Inc. and its consolidated subsidiaries, collectively. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP) for interim financial information and with the rules and regulations for reporting the Quarterly Report on Form 10-Q (Form 10-Q). Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. The condensed consolidated balance sheet at December 30, 2023 has been derived from the audited consolidated financial statements at that date, but does not include all of the information and footnotes required by GAAP for complete financial statements. These financial statements have been prepared on a basis that is substantially consistent with the accounting principles applied in our Annual Report on Form 10-K for the fiscal year ended December 30, 2023 (2023 Form 10-K). This report should be read in conjunction with our 2023 Form 10-K. In our opinion, these financial statements include all normal and recurring adjustments necessary for a fair presentation. The results for the 12 and 24 weeks ended June 15, 2024 are not necessarily indicative of the results expected for any future period or the full year. Raw materials, direct labor and plant overhead, as well as purchasing and receiving costs, costs directly related to production planning, inspection costs and raw materials handling facilities, are included in cost of sales. The costs of moving, storing and delivering finished product, including merchandising activities, are included in selling, general and administrative expenses. While our financial results in the United States and Canada (North America) are reported on a 12-week basis, all of our international operations are reported on a monthly calendar basis for which the months of March, April and May are reflected in our results for the 12 weeks ended June 15, 2024 and June 17, 2023, and the months of January through May are reflected in our results for the 24 weeks ended June 15, 2024 and June 17, 2023. The preparation of our condensed consolidated financial statements requires management to make estimates and assumptions that affect the amounts reported in our condensed consolidated financial statements and related disclosures. Additionally, the business and economic uncertainty resulting from volatile geopolitical conditions and the high interest rate and inflationary cost environment has made such estimates and assumptions more difficult to calculate. Accordingly, actual results and outcomes could differ from those estimates. Our significant interim accounting policies include the recognition of a pro rata share of certain estimated annual sales incentives and certain advertising and marketing costs in proportion to revenue or volume, as applicable, and the recognition of income taxes using an estimated annual effective tax rate. Unless otherwise noted, tabular dollars are in millions, except per share amounts. All per share amounts reflect common per share amounts, assume dilution unless otherwise noted, and are based on unrounded amounts. Certain reclassifications were made to the prior year’s financial statements to conform to the current year presentation. Our Divisions We are organized into seven reportable segments (also referred to as divisions), as follows: 1) Frito-Lay North America (FLNA), which includes our branded convenient food businesses in the United States and Canada; 2) Quaker Foods North America (QFNA), which includes our branded convenient food businesses, such as cereal, rice, pasta and other branded food, in the United States and Canada; 3) PepsiCo Beverages North America (PBNA), which includes our beverage businesses in the United States and Canada; 4) Latin America (LatAm), which includes all of our beverage and convenient food businesses in Latin America; 5) Europe, which includes all of our beverage and convenient food businesses in Europe; 6) Africa, Middle East and South Asia (AMESA), which includes all of our beverage and convenient food businesses in Africa, the Middle East and South Asia; and 7) Asia Pacific, Australia and New Zealand and China region (APAC), which includes all of our beverage and convenient food businesses in Asia Pacific, Australia and New Zealand, and China region. Net revenue of each division is as follows: 12 Weeks Ended 24 Weeks Ended 6/15/2024 6/17/2023 6/15/2024 6/17/2023 FLNA $ 5,874 $ 5,904 $ 11,550 $ 11,487 QFNA 561 684 1,154 1,461 PBNA 6,811 6,755 12,685 12,553 LatAm 3,045 2,856 5,112 4,633 Europe 3,515 3,428 5,451 5,314 AMESA 1,592 1,568 2,632 2,587 APAC 1,103 1,127 2,167 2,133 Total $ 22,501 $ 22,322 $ 40,751 $ 40,168 Our primary performance obligation is the distribution and sales of beverage and convenient food products to our customers. The following tables reflect the percentage of net revenue generated between our beverage business and our convenient food business for each of our international divisions, as well as our consolidated net revenue: 12 Weeks Ended 6/15/2024 6/17/2023 Beverages (a) Convenient Foods Beverages (a) Convenient Foods LatAm 10 % 90 % 9 % 91 % Europe 48 % 52 % 49 % 51 % AMESA 33 % 67 % 31 % 69 % APAC 28 % 72 % 26 % 74 % PepsiCo 43 % 57 % 42 % 58 % 24 Weeks Ended 6/15/2024 6/17/2023 Beverages (a) Convenient Foods Beverages (a) Convenient Foods LatAm 9 % 91 % 9 % 91 % Europe 47 % 53 % 48 % 52 % AMESA 33 % 67 % 31 % 69 % APAC 21 % 79 % 21 % 79 % PepsiCo 42 % 58 % 42 % 58 % (a) Beverage revenue from company-owned bottlers, which primarily includes our consolidated bottling operations in our PBNA and Europe divisions, was 36% and 35% of our consolidated net revenue in the 12 and 24 weeks ended June 15, 2024, respectively, and 37% and 36% of our consolidated net revenue in the 12 and 24 weeks ended June 17, 2023, respectively. Generally, our finished goods beverage operations produce higher net revenue but lower operating margin as compared to concentrate sold to authorized bottling partners for the manufacture of finished goods beverages. Operating profit of each division is as follows: 12 Weeks Ended 24 Weeks Ended 6/15/2024 6/17/2023 6/15/2024 6/17/2023 FLNA $ 1,592 $ 1,647 $ 3,146 $ 3,246 QFNA (a) 85 129 36 317 PBNA (b) 987 723 1,497 1,206 LatAm 637 592 1,122 956 Europe 620 476 822 547 AMESA 241 250 393 418 APAC 223 223 456 450 Total divisions 4,385 4,040 7,472 7,140 Corporate unallocated expenses (c) (337) (381) (707) (852) Total $ 4,048 $ 3,659 $ 6,765 $ 6,288 (a) In the 12 weeks ended June 15, 2024, we recorded a pre-tax charge of $15 million ($11 million after-tax or $0.01 per share) associated with a previously announced voluntary recall of certain bars and cereals in our QFNA division (Quaker Recall) with $8 million recorded in cost of sales and $7 million recorded in selling, general and administrative expenses. In the 24 weeks ended June 15, 2024, we recorded a pre-tax charge of $182 million ($139 million after-tax or $0.10 per share) associated with the Quaker Recall, with $175 million recorded in cost of sales related to property, plant and equipment write-offs, employee severance costs and other costs and $7 million recorded in selling, general and administrative expenses. (b) In the 12 and 24 weeks ended June 17, 2023, we recorded our proportionate 39% share of Tropicana Brands Group’s (TBG) impairment of indefinite-lived intangible assets, and recorded an other-than-temporary impairment of our equity method investment, both of which resulted in pre-tax impairment charges of $113 million ($86 million after-tax or $0.06 per share), recorded in selling, general and administrative expenses. See Note 9 for further information. (c) In both the 12 and 24 weeks ended June 15, 2024 and June 17, 2023, we recorded a pre-tax gain of $76 million ($57 million after-tax or $0.04 per share) and $85 million ($65 million after-tax or $0.05 per share), respectively, in selling, general and administrative expenses as a result of the sale of corporate assets.

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements (Notes)	6 Months Ended
Recently Issued Accounting Pronouncements (Notes)	Jun. 15, 2024
Accounting Changes and Error Corrections [Abstract]
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Adopted In September 2022, the Financial Accounting Standards Board (FASB) issued guidance to enhance the transparency of supplier finance programs to allow financial statement users to understand the effect on working capital, liquidity and cash flows. The new guidance requires disclosure of key terms of the program, including a description of the payment terms, payment timing and assets pledged as security or other forms of guarantees provided to the finance provider or intermediary. Other requirements include the disclosure of the amount that remains unpaid as of the end of the reporting period, a description of where these obligations are presented in the balance sheet and a rollforward of the obligation during the annual period. We adopted the guidance in the first quarter of 2023, except for the rollforward, which is effective for the current fiscal year 2024. We will adopt the rollforward guidance when it becomes effective in our 2024 annual reporting, on a prospective basis. See Note 12 for disclosures currently required under this guidance. Not Yet Adopted In December 2023, the FASB issued guidance to enhance transparency of income tax disclosures. On an annual basis, the new guidance requires a public entity to disclose: (1) specific categories in the rate reconciliation, (2) additional information for reconciling items that are equal to or greater than 5% of the amount computed by multiplying income (or loss) from continuing operations before income tax expense (or benefit) by the applicable statutory income tax rate, (3) income taxes paid (net of refunds received) disaggregated by federal (national), state, and foreign taxes, with foreign taxes disaggregated by individual jurisdictions in which income taxes paid is equal to or greater than 5% of total income taxes paid, (4) income (or loss) from continuing operations before income tax expense (or benefit) disaggregated between domestic and foreign, and (5) income tax expense (or benefit) from continuing operations disaggregated between federal (national), state and foreign. The guidance is effective for fiscal year 2025 annual reporting, with early adoption permitted, to be applied on a prospective basis, with retrospective application permitted. We will adopt the guidance when it becomes effective, in our 2025 annual reporting, on a prospective basis. In November 2023, the FASB issued guidance to enhance disclosure of expenses of a public entity’s reportable segments. The new guidance requires a public entity to disclose: (1) on an annual and interim basis, significant segment expenses that are regularly provided to the chief operating decision maker (CODM) and included within each reported measure of segment profit or loss, (2) on an annual and interim basis, an amount for other segment items (the difference between segment revenue less the significant expenses disclosed under the significant expense principle and each reported measure of segment profit or loss), including a description of its composition, (3) on an annual and interim basis, information about a reportable segment’s profit or loss and assets previously required to be disclosed only on an annual basis, and (4) the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and how to allocate resources. The new guidance also clarifies that if the CODM uses more than one measure of a segment’s profit or loss, one or more of those measures may be reported and requires that a public entity that has a single reportable segment provide all the disclosures required by the amendments in this update and all existing segment disclosures. The guidance is effective for the current fiscal year 2024 annual reporting, and in the first quarter of 2025 for interim period reporting, with early adoption permitted. Upon adoption, this guidance should be applied retrospectively to all prior periods presented. We will adopt the guidance when it becomes effective in our 2024 annual reporting.

Restructuring and Impairment Ch

Restructuring and Impairment Charges	6 Months Ended
Restructuring and Impairment Charges	Jun. 15, 2024
Restructuring and Related Activities [Abstract]
Restructuring and Impairment Charges	Restructuring and Impairment Charges 2019 Multi-Year Productivity Plan We publicly announced a multi-year productivity plan on February 15, 2019 (2019 Productivity Plan) that leverages new technology and business models to further simplify, harmonize and automate processes; re-engineers our go-to-market and information systems, including deploying the right automation for each market; and simplifies our organization and optimize our manufacturing and supply chain footprint. To build on the successful implementation of the 2019 Productivity Plan, in 2022, we expanded and extended the plan through the end of 2028 to take advantage of additional opportunities within the initiatives described above. As a result, we expect to incur pre-tax charges of approximately $3.65 billion, including cash expenditures of approximately $2.9 billion. These pre-tax charges are expected to consist of approximately 55% of severance and other employee-related costs, 10% for asset impairments (all non-cash) resulting from plant closures and related actions, and 35% for other costs associated with the implementation of our initiatives. The total plan pre-tax charges are expected to be incurred by division approximately as follows: FLNA QFNA PBNA LatAm Europe AMESA APAC Corporate Expected pre-tax charges 10 % 1 % 30 % 10 % 25 % 5 % 4 % 15 % A summary of our 2019 Productivity Plan charges is as follows: 12 Weeks Ended 24 Weeks Ended 6/15/2024 6/17/2023 6/15/2024 6/17/2023 Cost of sales $ — $ 3 $ 6 $ 6 Selling, general and administrative expenses 66 89 149 199 Other pension and retiree medical benefits expense/(income) (a) 8 — 15 (1) Total restructuring and impairment charges $ 74 $ 92 $ 170 $ 204 After-tax amount $ 54 $ 63 $ 130 $ 161 Impact on net income attributable to PepsiCo per common share $ (0.04) $ (0.05) $ (0.09) $ (0.12) 12 Weeks Ended 24 Weeks Ended Plan-to-Date 6/15/2024 6/17/2023 6/15/2024 6/17/2023 through 6/15/2024 FLNA $ 13 $ 6 $ 35 $ 13 $ 287 QFNA — — 4 — 23 PBNA 5 5 15 10 282 LatAm 16 6 21 11 221 Europe 19 52 37 141 603 AMESA 3 — 3 5 100 APAC 4 4 4 5 89 Corporate 6 19 36 20 353 66 92 155 205 1,958 Other pension and retiree medical benefits expense/(income) (a) 8 — 15 (1) 112 Total $ 74 $ 92 $ 170 $ 204 $ 2,070 (a) Income amount represents adjustments for changes in estimates of previously recorded amounts. 12 Weeks Ended 24 Weeks Ended Plan-to-Date 6/15/2024 6/17/2023 6/15/2024 6/17/2023 through 6/15/2024 Severance and other employee costs $ 10 $ 50 $ 82 $ 142 $ 1,132 Asset impairments 3 — 4 — 196 Other costs 61 42 84 62 742 Total $ 74 $ 92 $ 170 $ 204 $ 2,070 Severance and other employee costs primarily include severance and other termination benefits, as well as voluntary separation arrangements. Other costs primarily include costs associated with the implementation of our initiatives, including consulting and other professional fees, as well as contract termination costs. A summary of our 2019 Productivity Plan activity for the 24 weeks ended June 15, 2024 is as follows: Severance and Other Employee Costs Asset Other Costs Total Liability as of December 30, 2023 $ 188 $ — $ 9 $ 197 2024 restructuring charges 82 4 84 170 Cash payments (84) — (89) (173) Non-cash charges and translation (11) (4) 14 (1) Liability as of June 15, 2024 $ 175 $ — $ 18 $ 193 The majority of the restructuring accrual at June 15, 2024 is expected to be paid by the end of 2024. Other Productivity Initiatives There were no material charges related to other productivity and efficiency initiatives outside the scope of the 2019 Productivity Plan. We regularly evaluate different productivity initiatives beyond the productivity plan and other initiatives described above.

Intangible Assets

Intangible Assets	6 Months Ended
Intangible Assets	Jun. 15, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets A summary of our amortizable intangible assets is as follows: 6/15/2024 12/30/2023 Gross Accumulated Amortization Net Gross Accumulated Amortization Net Acquired franchise rights $ 832 $ (219) $ 613 $ 840 $ (214) $ 626 Customer relationships 553 (274) 279 560 (265) 295 Brands 1,081 (986) 95 1,093 (989) 104 Other identifiable intangibles 440 (276) 164 449 (275) 174 Total $ 2,906 $ (1,755) $ 1,151 $ 2,942 $ (1,743) $ 1,199 The change in the book value of indefinite-lived intangible assets is as follows: Balance 12/30/2023 Translation Balance 6/15/2024 FLNA Goodwill $ 453 $ (5) $ 448 Brands 251 — 251 Total 704 (5) 699 QFNA Goodwill 189 — 189 Total 189 — 189 PBNA Goodwill 11,961 (16) 11,945 Reacquired franchise rights 7,114 (29) 7,085 Acquired franchise rights 1,737 (5) 1,732 Brands 2,508 — 2,508 Total 23,320 (50) 23,270 LatAm Goodwill 460 (11) 449 Brands 82 (2) 80 Total 542 (13) 529 Europe Goodwill 3,166 (21) 3,145 Reacquired franchise rights 419 (4) 415 Acquired franchise rights 154 (4) 150 Brands 1,124 (5) 1,119 Total 4,863 (34) 4,829 AMESA Goodwill 991 (16) 975 Brands 137 (2) 135 Total 1,128 (18) 1,110 APAC Goodwill 508 (11) 497 Brands 204 (4) 200 Total 712 (15) 697 Total goodwill 17,728 (80) 17,648 Total reacquired franchise rights 7,533 (33) 7,500 Total acquired franchise rights 1,891 (9) 1,882 Total brands 4,306 (13) 4,293 Total $ 31,458 $ (135) $ 31,323

Income Taxes

Income Taxes	6 Months Ended
Income Taxes	Jun. 15, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesNumerous countries have agreed to a statement in support of the Organization for Economic Co-operation and Development (OECD) model rules that propose a global minimum tax rate of 15%. Certain countries have enacted legislation incorporating the agreed global minimum tax effective in 2024. Legislation enacted as of June 15, 2024 did not have a material impact on our financial statements for the 12 and 24 weeks ended June 15, 2024 and is not expected to have a material impact on our 2024 financial statements.

Share-Based Compensation

Share-Based Compensation	6 Months Ended
Share-Based Compensation	Jun. 15, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Share-Based Compensation The following table summarizes our total share-based compensation expense, which is primarily recorded in selling, general and administrative expenses: 12 Weeks Ended 24 Weeks Ended 6/15/2024 6/17/2023 6/15/2024 6/17/2023 Share-based compensation expense – equity awards $ 86 $ 86 $ 183 $ 179 Share-based compensation expense – liability awards 5 6 10 12 Restructuring charges 1 (1) (4) — Total $ 92 $ 91 $ 189 $ 191 The following table summarizes share-based awards granted under the terms of the PepsiCo, Inc. Long-Term Incentive Plan: 24 Weeks Ended 6/15/2024 6/17/2023 Granted (a) Weighted-Average Grant Price Granted (a) Weighted-Average Grant Price Stock options 1.8 $ 164.25 2.0 $ 171.00 RSUs and PSUs 2.3 $ 164.25 2.1 $ 171.11 (a) In millions. All grant activity is disclosed at target. We granted long-term cash awards to certain executive officers and other senior executives with an aggregate target value of $19 million and $20 million during the 24 weeks ended June 15, 2024 and June 17, 2023, respectively. For the 12 weeks ended June 15, 2024 and June 17, 2023, our grants of stock options, RSUs, PSUs and long-term cash awards were nominal. Our weighted-average Black-Scholes fair value assumptions are as follows: 24 Weeks Ended 6/15/2024 6/17/2023 Expected life 7 years 7 years Risk-free interest rate 4.2 % 4.2 % Expected volatility 16 % 16 % Expected dividend yield 2.9 % 2.7 %

Pension and Retiree Medical Ben

Pension and Retiree Medical Benefits (Notes)	6 Months Ended
Pension and Retiree Medical Benefits (Notes)	Jun. 15, 2024
Pension and Retiree Medical Benefits [Abstract]
Pension and Retiree Medical Benefits	Pension and Retiree Medical Benefits The components of net periodic benefit cost/(income) for pension and retiree medical plans are as follows: 12 Weeks Ended Pension Retiree Medical U.S. International 6/15/2024 6/17/2023 6/15/2024 6/17/2023 6/15/2024 6/17/2023 Service cost $ 80 $ 75 $ 12 $ 10 $ 8 $ 7 Other pension and retiree medical benefits income: Interest cost 135 137 36 34 8 9 Expected return on plan assets (202) (196) (50) (46) (3) (3) Amortization of prior service credits (5) (6) (1) — (1) (2) Amortization of net losses/(gains) 18 16 5 3 (6) (6) Settlement losses — — 2 — — — Special termination benefits 8 — — — — — Total other pension and retiree medical benefits income (46) (49) (8) (9) (2) (2) Total $ 34 $ 26 $ 4 $ 1 $ 6 $ 5 24 Weeks Ended Pension Retiree Medical U.S. International 6/15/2024 6/17/2023 6/15/2024 6/17/2023 6/15/2024 6/17/2023 Service cost $ 160 $ 151 $ 21 $ 18 $ 15 $ 13 Other pension and retiree medical benefits income: Interest cost 270 274 63 59 15 17 Expected return on plan assets (403) (393) (89) (81) (6) (6) Amortization of prior service credits (11) (12) (1) — (2) (3) Amortization of net losses/(gains) 36 32 9 5 (12) (12) Settlement losses — — 2 — — — Special termination benefits 15 (1) — — — — Total other pension and retiree medical benefits income (93) (100) (16) (17) (5) (4) Total $ 67 $ 51 $ 5 $ 1 $ 10 $ 9 We regularly evaluate opportunities to reduce risk and volatility associated with our pension and retiree medical plans.

Debt Obligations

Debt Obligations	6 Months Ended
Debt Obligations	Jun. 15, 2024
Debt Disclosure [Abstract]
Debt Disclosure	Debt Obligations In the 24 weeks ended June 15, 2024, we issued, through our wholly-owned consolidated finance subsidiary, PepsiCo Singapore Financing I Pte. Ltd., the following notes: (a) Interest Rate Maturity Date Principal Amount (b) Floating rate February 2027 $ 300 4.650 % February 2027 $ 550 4.550 % February 2029 $ 450 4.700 % February 2034 $ 450 (a) PepsiCo Singapore Financing I Pte. Ltd. is a finance subsidiary and has no assets, operations, revenues or cash flows other than those related to the issuance, administration and repayment of the notes and any other notes that may be issued in the future. The notes are fully and unconditionally guaranteed by PepsiCo, Inc. on a senior unsecured basis and may be assumed at any time by PepsiCo, Inc. as the primary and sole obligor. (b) Excludes debt issuance costs, discounts and premiums. The net proceeds from the issuances of the above notes were used for general corporate purposes, including the repayment of commercial paper. In the 24 weeks ended June 15, 2024 , $1.3 billion of U.S. dollar-denominated senior notes, €1.0 billion of euro-denominated senior notes and C$0.8 billion of Canadian dollar-denominated senior notes matured and were paid. As of June 15, 2024, we had $4.4 billion of commercial paper outstanding, excluding discounts. In the 12 and 24 weeks ended June 15, 2024, we entered into a new five-year unsecured revolving credit agreement (Five-Year Credit Agreement), which expires on May 24, 2029. The Five-Year Credit Agreement enables us and our borrowing subsidiaries to borrow up to $5.0 billion in U.S. dollars and/or euros, including a $0.75 billion swing line subfacility for euro-denominated borrowings permitted to be borrowed on a same-day basis, subject to customary terms and conditions. We may request that commitments under this agreement be increased up to $5.75 billion (or the equivalent amount in euros). Additionally, we may, up to two times during the term of the 2024 Five-Year Credit Agreement, request renewal of the agreement for an additional one-year period. The Five-Year Credit Agreement replaced our $4.2 billion five-year credit agreement, dated as of May 26, 2023. Also in the 12 and 24 weeks ended June 15, 2024, we entered into a new 364-day unsecured revolving credit agreement (364-Day Credit Agreement), which expires on May 23, 2025. The 364-Day Credit Agreement enables us and our borrowing subsidiaries to borrow up to $5.0 billion in U.S. dollars and/or euros, subject to customary terms and conditions. We may request that commitments under this agreement be increased up to $5.75 billion (or the equivalent amount in euros). We may request renewal of this facility for an additional 364-day period or convert any amounts outstanding into a term loan for a period of up to one year, which term loan would mature no later than the anniversary of the then effective termination date. The 364-Day Credit Agreement replaced our $4.2 billion 364-day credit agreement, dated as of May 26, 2023. Funds borrowed under the Five-Year Credit Agreement and the 364-Day Credit Agreement may be used for general corporate purposes. Subject to certain conditions, we may borrow, prepay and reborrow amounts under these agreements. As of June 15, 2024, there were no outstanding borrowings under the Five-Year Credit Agreement or the 364-Day Credit Agreement.

Financial Instruments

Financial Instruments	6 Months Ended
Financial Instruments	Jun. 15, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments	Financial Instruments We are exposed to market risks arising from adverse changes in: • commodity prices, affecting the cost of our raw materials and energy; • foreign exchange rates and currency restrictions; and • interest rates. There have been no material changes during the 24 weeks ended June 15, 2024 with respect to our risk management policies or strategies and valuation techniques used in measuring the fair value of the financial assets or liabilities disclosed in Note 9 to our consolidated financial statements in our 2023 Form 10-K. Certain of our agreements with our counterparties require us to post full collateral on derivative instruments in a net liability position if our credit rating is at A2 (Moody’s Investors Service, Inc.) or A (S&P Global Ratings) and we have been placed on credit watch for possible downgrade or if our credit rating falls below either of these levels. The fair value of all derivative instruments with credit-risk-related contingent features that were in a net liability position as of June 15, 2024 was $141 million. We have posted no collateral under these contracts and no credit-risk-related contingent features were triggered as of June 15, 2024. The notional amounts of our financial instruments used to hedge the above risks as of June 15, 2024 and December 30, 2023 are as follows: Notional Amounts (a) 6/15/2024 12/30/2023 Commodity $ 1.4 $ 1.7 Foreign exchange $ 3.0 $ 3.8 Interest rate $ 0.7 $ 1.3 Net investment (b) $ 2.9 $ 3.0 (a) In billions. (b) The total notional amount of our net investment hedges consists of non-derivative debt instruments. As of June 15, 2024, approximately 14% of total debt was subject to variable rates, compared to 9% as of December 30, 2023. Debt Securities Held-to-Maturity As of June 15, 2024, we had no investments in held-to-maturity debt securities. As of December 30, 2023, we had $309 million of investments in commercial paper held-to-maturity debt securities recorded in cash and cash equivalents. Held-to-maturity debt securities are recorded at amortized cost, which approximates fair value, and realized gains or losses are reported in earnings. As of December 30, 2023, gross unrecognized gains and losses and the allowance for expected credit losses were not material. Available-for-Sale There were no material impairment charges related to investments in available-for-sale debt securities in both the 24 weeks ended June 15, 2024 and June 17, 2023. There were unrealized gains of $800 million as of June 15, 2024 and no unrealized gains or losses as of June 17, 2023 related to investments in available-for-sale debt securities. Related to our Level 3 (significant unobservable inputs) investment in Celsius Holdings, Inc. (Celsius), we recorded an unrealized loss of $503 million and an unrealized gain of $188 million in other comprehensive income during the 12 and 24 weeks ended June 15, 2024, respectively. Additionally, we recorded a decrease in the investment of $7 million due to cash dividends received during the 12 and 24 weeks ended June 15, 2024. There were no Level 3 investments in available-for-sale debt securities during the 24 weeks ended June 17, 2023. TBG Investment In the 12 and 24 weeks ended June 17, 2023, we recorded our proportionate 39% share of TBG’s impairment of indefinite-lived intangible assets, and recorded an other-than-temporary impairment of our equity method investment, both of which resulted in pre-tax impairment charges of $113 million ($86 million after-tax or $0.06 per share), recorded in selling, general and administrative expenses in our PBNA division. We estimated the fair value of our ownership in TBG using discounted cash flows and an option pricing model related to our liquidation preference in TBG, which we categorized as Level 3 in the fair value hierarchy. There were no impairment charges recorded in the 24 weeks ended June 15, 2024. Recurring Fair Value Measurements The fair values of our financial assets and liabilities as of June 15, 2024 and December 30, 2023 are categorized as follows: 6/15/2024 12/30/2023 Fair Value Hierarchy Levels (a) Assets (a) Liabilities (a) Assets (a) Liabilities (a) Available-for-sale debt securities (b) 2,3 $ 1,519 $ — $ 1,334 $ — Index funds (c) 1 $ 315 $ — $ 292 $ — Prepaid forward contracts (d) 2 $ 13 $ — $ 13 $ — Deferred compensation (e) 2 $ — $ 493 $ — $ 477 Derivatives designated as cash flow hedging instruments: Foreign exchange (f) 2 $ 14 $ 13 $ 3 $ 31 Interest rate (f) 2 — 152 5 135 Commodity (g) 2 23 8 10 24 $ 37 $ 173 $ 18 $ 190 Derivatives not designated as hedging instruments: Foreign exchange (f) 2 $ 14 $ 14 $ 33 $ 38 Commodity (g) 2 7 3 5 13 $ 21 $ 17 $ 38 $ 51 Total derivatives at fair value (h) $ 58 $ 190 $ 56 $ 241 Total $ 1,905 $ 683 $ 1,695 $ 718 (a) Fair value hierarchy levels are categorized consistently by Level 1 (quoted prices in active markets for identical assets), Level 2 (significant other observable inputs) and Level 3 in both years. Unless otherwise noted, financial assets are classified on our balance sheet within prepaid expenses and other current assets and other assets. Financial liabilities are classified on our balance sheet within accounts payable and other current liabilities and other liabilities. (b) Includes Level 2 assets of $182 million and Level 3 assets of $1,337 million as of June 15, 2024, and Level 2 assets of $178 million and Level 3 assets of $1,156 million as of December 30, 2023 . As of June 15, 2024 and December 30, 2023, $1,519 million and $1,334 million were classified as other assets, respectively. The fair values of our Level 2 investments approximate the transaction price and any accrued returns, as well as the amortized cost. The fair value of our Level 3 investment in Celsius is estimated using probability-weighted discounted future cash flows based on a Monte Carlo simulation using significant unobservable inputs such as an 80% probability that a certain market-based condition will be met and an average estimated discount rate of 5.8% and 8.1% as of June 15, 2024 a nd December 30, 2023, respectively, based on Celsius’ estimated synthetic credit rating. An increase in the probability that certain market-based conditions will be met or a decrease in the discount rate would result in a higher fair value measurement, while a decrease in the probability that certain market-based conditions will be met or an increase in the discount rate would result in a lower fair value measurement. (c) Based on the price of index funds. These investments are classified as short-term investments and are used to manage a portion of market risk arising from our deferred compensation liability. (d) Based primarily on the price of our common stock. (e) Based on the fair value of investments corresponding to employees’ investment elections. (f) Based on recently reported market transactions of spot and forward rates. (g) Primarily based on recently reported market transactions of swap arrangements. (h) Derivative assets and liabilities are presented on a gross basis on our balance sheet. Amounts subject to enforceable master netting arrangements or similar agreements which are not offset on our balance sheet as of June 15, 2024 and December 30, 2023 were not material. Collateral received or posted against our asset or liability positions was not material. Exchange-traded commodity futures are cash-settled on a daily basis and, therefore, not included in the table. The carrying amounts of our cash and cash equivalents and short-term investments recorded at amortized cost approximate fair value (classified as Level 2 in the fair value hierarchy) due to their short-term maturity. The fair value of our debt obligations as of June 15, 2024 and December 30, 2023 was $41 billion, based upon prices of identical or similar instruments in the marketplace, which are considered Level 2 inputs. Losses/(gains) on our cash flow and net investment hedges are categorized as follows: 12 Weeks Ended Losses/(Gains) Losses/(Gains) Reclassified from Accumulated Other Comprehensive Loss into Income Statement (a) 6/15/2024 6/17/2023 6/15/2024 6/17/2023 Foreign exchange $ (1) $ 43 $ 9 $ 14 Interest rate 9 (37) 11 (30) Commodity (11) (15) 30 28 Net investment (17) 71 — — Total $ (20) $ 62 $ 50 $ 12 24 Weeks Ended Losses/(Gains) Losses/(Gains) Reclassified from Accumulated Other Comprehensive Loss into Income Statement (a) 6/15/2024 6/17/2023 6/15/2024 6/17/2023 Foreign exchange $ (15) $ 59 $ 18 $ 15 Interest rate 34 (26) 35 (27) Commodity 28 50 51 37 Net investment (69) 108 — — Total $ (22) $ 191 $ 104 $ 25 (a) Foreign exchange derivative losses/(gains) are included in net revenue and cost of sales. Interest rate derivative losses/(gains) are included in selling, general and administrative expenses. Commodity derivative losses/(gains) are included in either cost of sales or selling, general and administrative expenses, depending on the underlying commodity. See Note 11 for further information. Based on current market conditions, we expect to reclassify net losses of $55 million related to our cash flow hedges from accumulated other comprehensive loss within common shareholders’ equity into net income during the next 12 months. Losses/(gains) recognized in the income statement related to our non-designated hedges are categorized as follows: 12 Weeks Ended 6/15/2024 6/17/2023 Cost of sales Selling, general and administrative expenses Total Cost of sales Selling, general and administrative expenses Total Foreign exchange $ — $ 24 $ 24 $ — $ 44 $ 44 Commodity (14) 5 (9) 5 3 8 Total $ (14) $ 29 $ 15 $ 5 $ 47 $ 52 24 Weeks Ended 6/15/2024 6/17/2023 Cost of sales Selling, general and administrative expenses Total Cost of sales Selling, general and administrative expenses Total Foreign exchange $ — $ 42 $ 42 $ (1) $ 39 $ 38 Commodity (15) (20) (35) 36 53 89 Total $ (15) $ 22 $ 7 $ 35 $ 92 $ 127

Net Income Attributable to Peps

Net Income Attributable to PepsiCo per Common Share	6 Months Ended
Net Income Attributable to PepsiCo per Common Share	Jun. 15, 2024
Earnings Per Share [Abstract]
Net Income Attributable to PepsiCo per Common Share	Net Income Attributable to PepsiCo per Common Share The computations of basic and diluted net income attributable to PepsiCo per common share are as follows: 12 Weeks Ended 6/15/2024 6/17/2023 Income Shares (a) Income Shares (a) Basic net income attributable to PepsiCo per common share $ 2.24 $ 1.99 Net income available for PepsiCo common shareholders $ 3,083 1,375 $ 2,748 1,378 Dilutive securities: Stock options, RSUs, PSUs and other (b) — 4 — 6 Diluted $ 3,083 1,379 $ 2,748 1,384 Diluted net income attributable to PepsiCo per common share $ 2.23 $ 1.99 24 Weeks Ended 6/15/2024 6/17/2023 Income Shares (a) Income Shares (a) Basic net income attributable to PepsiCo per common share $ 3.73 $ 3.40 Net income available for PepsiCo common shareholders $ 5,125 1,375 $ 4,680 1,378 Dilutive securities: Stock options, RSUs, PSUs and other (b) — 5 — 6 Diluted $ 5,125 1,380 $ 4,680 1,384 Diluted net income attributable to PepsiCo per common share $ 3.71 $ 3.38 (a) Weighted-average common shares outstanding (in millions). (b) The dilutive effect of these securities is calculated using the treasury stock method. The weighted-average amount of antidilutive securities excluded from the calculation of diluted earnings per common share was 4 million for the 12 and 24 weeks ended June 15, 2024, and was immaterial for the 12 and 24 weeks ended June 17, 2023.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss Attributable to PepsiCo	6 Months Ended
	Jun. 15, 2024
Equity [Abstract]
Accumulated Other Comprehensive Loss Attributable to PepsiCo	Accumulated Other Comprehensive Loss Attributable to PepsiCo The changes in the balances of each component of accumulated other comprehensive loss attributable to PepsiCo are as follows: Currency Translation Adjustment Cash Flow Hedges Pension and Retiree Medical Available-for-Sale Debt Securities and Other (a) Accumulated Other Comprehensive Loss Attributable to PepsiCo Balance as of December 30, 2023 (b) $ (13,255) $ (31) $ (2,719) $ 471 $ (15,534) Other comprehensive (loss)/income before reclassifications (c) (168) (47) 4 685 474 Amounts reclassified from accumulated other comprehensive loss — 51 9 — 60 Net other comprehensive (loss)/income (168) 4 13 685 534 Tax amounts (14) (1) (2) (162) (179) Balance as of March 23, 2024 (b) (13,437) (28) (2,708) 994 (15,179) Other comprehensive (loss)/income before reclassifications (d) (295) 3 (1) (511) (804) Amounts reclassified from accumulated other comprehensive loss — 53 12 — 65 Net other comprehensive (loss)/income (295) 56 11 (511) (739) Tax amounts 28 (14) (2) 120 132 Balance as of June 15, 2024 (b) $ (13,704) $ 14 $ (2,699) $ 603 $ (15,786) (a) The movements during the quarters primarily represent fair value changes in available-for-sale debt securities, including our investment in Celsius convertible preferred stock. See Note 9 for further information. (b) Pension and retiree medical amounts are net of taxes of $1,282 million as of December 30, 2023, $1,280 million as of March 23, 2024 and $1,278 million as of June 15, 2024. (c) Currency translation adjustment primarily reflects depreciation of the South African rand, Canadian dollar and Russian ruble. (d) Currency translation adjustment primarily reflects depreciation of the Egyptian pound. Currency Translation Adjustment Cash Flow Hedges Pension and Retiree Medical Available-for-Sale Debt Securities and Other Accumulated Other Comprehensive Loss Attributable Balance as of December 31, 2022 (a) $ (12,948) $ 1 $ (2,361) $ 6 $ (15,302) Other comprehensive (loss) before reclassifications (b) (350) (92) (9) (1) (452) Amounts reclassified from accumulated other comprehensive loss (c) 108 13 5 — 126 Net other comprehensive (loss) (242) (79) (4) (1) (326) Tax amounts 7 20 — — 27 Balance as of March 25, 2023 (a) (13,183) (58) (2,365) 5 (15,601) Other comprehensive (loss)/income before reclassifications (d) (215) 19 (14) 1 (209) Amounts reclassified from accumulated other comprehensive loss — 12 5 — 17 Net other comprehensive (loss)/income (215) 31 (9) 1 (192) Tax amounts 17 (7) 3 — 13 Balance as of June 17, 2023 (a) $ (13,381) $ (34) $ (2,371) $ 6 $ (15,780) (a) Pension and retiree medical amounts are net of taxes of $1,184 million as of both December 31, 2022 and March 25, 2023 and $1,187 million as of June 17, 2023. (b) Currency translation adjustment primarily reflects depreciation of the Egyptian pound and Russian ruble. (c) Release of currency translation adjustment is in relation to the sale of a non-strategic brand and an investment within our AMESA division. (d) Currency translation adjustment primarily reflects depreciation of the Russian ruble. The reclassifications from accumulated other comprehensive loss to the income statement are summarized as follows: 12 Weeks Ended 24 Weeks Ended 6/15/2024 6/17/2023 6/15/2024 6/17/2023 Affected Line Item in the Income Statement Currency translation: Divestitures $ — $ — $ — $ 108 Selling, general and administrative expenses Cash flow hedges: Foreign exchange contracts $ — $ (1) $ — $ (3) Net revenue Foreign exchange contracts 9 15 18 18 Cost of sales Interest rate derivatives 14 (30) 35 (27) Selling, general and administrative expenses Commodity contracts 30 28 51 38 Cost of sales Commodity contracts — — — (1) Selling, general and administrative expenses Net losses before tax 53 12 104 25 Tax amounts (14) (3) (27) (7) Net losses after tax $ 39 $ 9 $ 77 $ 18 Pension and retiree medical items: Amortization of prior service credits $ (7) $ (8) $ (14) $ (15) Other pension and retiree medical benefits income Amortization of net losses 17 13 33 25 Other pension and retiree medical benefits income Settlement losses 2 — 2 — Other pension and retiree medical benefits income Net losses before tax 12 5 21 10 Tax amounts (2) (1) (4) (2) Net losses after tax $ 10 $ 4 $ 17 $ 8 Total net losses reclassified, net of tax $ 49 $ 13 $ 94 $ 134

Supply Chain Financing

Supply Chain Financing	3 Months Ended
Supply Chain Financing	Jun. 15, 2024
Text Block [Abstract]
Supply Chain Financing	Supply Chain Financing Arrangements We maintain voluntary supply chain finance agreements with several participating global financial institutions. Under these agreements, our suppliers, at their sole discretion, may elect to sell their accounts receivable with PepsiCo to these participating global financial institutions. As of June 15, 2024 and December 30, 2023, $1.6 billion and $1.7 billion, respectively, of our accounts payable are to suppliers participating in these financing arrangements. For further information on the key terms of these supply chain financing programs, see Note 14 to our consolidated financial statements in our 2023 Form 10-K.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Jun. 15, 2024	Jun. 17, 2023	Jun. 15, 2024	Jun. 17, 2023
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 3,083	$ 2,748	$ 5,125	$ 4,680

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 15, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false

Basis of Presentation and Our_2

Basis of Presentation and Our Divisions (Policies)	6 Months Ended
Basis of Presentation and Our Divisions (Policies)	Jun. 15, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Fiscal Period, Policy	While our financial results in the United States and Canada (North America) are reported on a 12-week basis, all of our international operations are reported on a monthly calendar basis for which the months of March, April and May are reflected in our results for the 12 weeks ended June 15, 2024 and June 17, 2023, and the months of January through May are reflected in our results for the 24 weeks ended June 15, 2024 and June 17, 2023.

Accounting Policies (Policies)

Accounting Policies (Policies)	6 Months Ended
Accounting Policies (Policies)	Jun. 15, 2024
Accounting Policies [Abstract]
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Adopted In September 2022, the Financial Accounting Standards Board (FASB) issued guidance to enhance the transparency of supplier finance programs to allow financial statement users to understand the effect on working capital, liquidity and cash flows. The new guidance requires disclosure of key terms of the program, including a description of the payment terms, payment timing and assets pledged as security or other forms of guarantees provided to the finance provider or intermediary. Other requirements include the disclosure of the amount that remains unpaid as of the end of the reporting period, a description of where these obligations are presented in the balance sheet and a rollforward of the obligation during the annual period. We adopted the guidance in the first quarter of 2023, except for the rollforward, which is effective for the current fiscal year 2024. We will adopt the rollforward guidance when it becomes effective in our 2024 annual reporting, on a prospective basis. See Note 12 for disclosures currently required under this guidance. Not Yet Adopted In December 2023, the FASB issued guidance to enhance transparency of income tax disclosures. On an annual basis, the new guidance requires a public entity to disclose: (1) specific categories in the rate reconciliation, (2) additional information for reconciling items that are equal to or greater than 5% of the amount computed by multiplying income (or loss) from continuing operations before income tax expense (or benefit) by the applicable statutory income tax rate, (3) income taxes paid (net of refunds received) disaggregated by federal (national), state, and foreign taxes, with foreign taxes disaggregated by individual jurisdictions in which income taxes paid is equal to or greater than 5% of total income taxes paid, (4) income (or loss) from continuing operations before income tax expense (or benefit) disaggregated between domestic and foreign, and (5) income tax expense (or benefit) from continuing operations disaggregated between federal (national), state and foreign. The guidance is effective for fiscal year 2025 annual reporting, with early adoption permitted, to be applied on a prospective basis, with retrospective application permitted. We will adopt the guidance when it becomes effective, in our 2025 annual reporting, on a prospective basis. In November 2023, the FASB issued guidance to enhance disclosure of expenses of a public entity’s reportable segments. The new guidance requires a public entity to disclose: (1) on an annual and interim basis, significant segment expenses that are regularly provided to the chief operating decision maker (CODM) and included within each reported measure of segment profit or loss, (2) on an annual and interim basis, an amount for other segment items (the difference between segment revenue less the significant expenses disclosed under the significant expense principle and each reported measure of segment profit or loss), including a description of its composition, (3) on an annual and interim basis, information about a reportable segment’s profit or loss and assets previously required to be disclosed only on an annual basis, and (4) the title and position of the CODM and an explanation of how the CODM uses the reported measure(s) of segment profit or loss in assessing segment performance and how to allocate resources. The new guidance also clarifies that if the CODM uses more than one measure of a segment’s profit or loss, one or more of those measures may be reported and requires that a public entity that has a single reportable segment provide all the disclosures required by the amendments in this update and all existing segment disclosures. The guidance is effective for the current fiscal year 2024 annual reporting, and in the first quarter of 2025 for interim period reporting, with early adoption permitted. Upon adoption, this guidance should be applied retrospectively to all prior periods presented. We will adopt the guidance when it becomes effective in our 2024 annual reporting.

Basis of Presentation and Our_3

Basis of Presentation and Our Divisions (Tables)	6 Months Ended
Basis of Presentation and Our Divisions (Tables)	Jun. 15, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Segment Reporting Information By Net Revenue	Net revenue of each division is as follows: 12 Weeks Ended 24 Weeks Ended 6/15/2024 6/17/2023 6/15/2024 6/17/2023 FLNA $ 5,874 $ 5,904 $ 11,550 $ 11,487 QFNA 561 684 1,154 1,461 PBNA 6,811 6,755 12,685 12,553 LatAm 3,045 2,856 5,112 4,633 Europe 3,515 3,428 5,451 5,314 AMESA 1,592 1,568 2,632 2,587 APAC 1,103 1,127 2,167 2,133 Total $ 22,501 $ 22,322 $ 40,751 $ 40,168
Summary of Segment Reporting Information by Percentage of Disaggregated Net Revenue	Our primary performance obligation is the distribution and sales of beverage and convenient food products to our customers. The following tables reflect the percentage of net revenue generated between our beverage business and our convenient food business for each of our international divisions, as well as our consolidated net revenue: 12 Weeks Ended 6/15/2024 6/17/2023 Beverages (a) Convenient Foods Beverages (a) Convenient Foods LatAm 10 % 90 % 9 % 91 % Europe 48 % 52 % 49 % 51 % AMESA 33 % 67 % 31 % 69 % APAC 28 % 72 % 26 % 74 % PepsiCo 43 % 57 % 42 % 58 % 24 Weeks Ended 6/15/2024 6/17/2023 Beverages (a) Convenient Foods Beverages (a) Convenient Foods LatAm 9 % 91 % 9 % 91 % Europe 47 % 53 % 48 % 52 % AMESA 33 % 67 % 31 % 69 % APAC 21 % 79 % 21 % 79 % PepsiCo 42 % 58 % 42 % 58 % (a) Beverage revenue from company-owned bottlers, which primarily includes our consolidated bottling operations in our PBNA and Europe divisions, was 36% and 35% of our consolidated net revenue in the 12 and 24 weeks ended June 15, 2024, respectively, and 37% and 36% of our consolidated net revenue in the 12 and 24 weeks ended June 17, 2023, respectively. Generally, our finished goods beverage operations produce higher net revenue but lower operating margin as compared to concentrate sold to authorized bottling partners for the manufacture of finished goods beverages.
Summary of Segment Reporting Information by Operating Profit	Operating profit of each division is as follows: 12 Weeks Ended 24 Weeks Ended 6/15/2024 6/17/2023 6/15/2024 6/17/2023 FLNA $ 1,592 $ 1,647 $ 3,146 $ 3,246 QFNA (a) 85 129 36 317 PBNA (b) 987 723 1,497 1,206 LatAm 637 592 1,122 956 Europe 620 476 822 547 AMESA 241 250 393 418 APAC 223 223 456 450 Total divisions 4,385 4,040 7,472 7,140 Corporate unallocated expenses (c) (337) (381) (707) (852) Total $ 4,048 $ 3,659 $ 6,765 $ 6,288 (a) In the 12 weeks ended June 15, 2024, we recorded a pre-tax charge of $15 million ($11 million after-tax or $0.01 per share) associated with a previously announced voluntary recall of certain bars and cereals in our QFNA division (Quaker Recall) with $8 million recorded in cost of sales and $7 million recorded in selling, general and administrative expenses. In the 24 weeks ended June 15, 2024, we recorded a pre-tax charge of $182 million ($139 million after-tax or $0.10 per share) associated with the Quaker Recall, with $175 million recorded in cost of sales related to property, plant and equipment write-offs, employee severance costs and other costs and $7 million recorded in selling, general and administrative expenses. (b) In the 12 and 24 weeks ended June 17, 2023, we recorded our proportionate 39% share of Tropicana Brands Group’s (TBG) impairment of indefinite-lived intangible assets, and recorded an other-than-temporary impairment of our equity method investment, both of which resulted in pre-tax impairment charges of $113 million ($86 million after-tax or $0.06 per share), recorded in selling, general and administrative expenses. See Note 9 for further information. (c) In both the 12 and 24 weeks ended June 15, 2024 and June 17, 2023, we recorded a pre-tax gain of $76 million ($57 million after-tax or $0.04 per share) and $85 million ($65 million after-tax or $0.05 per share), respectively, in selling, general and administrative expenses as a result of the sale of corporate assets.

Restructuring and Impairment _2

Restructuring and Impairment Charges (Tables)	6 Months Ended
Restructuring and Impairment Charges (Tables)	Jun. 15, 2024
2019 Productivity Plan
Restructuring Cost and Reserve [Line Items]
Summary of Productivity Plan Activity	Restructuring and Impairment Charges 2019 Multi-Year Productivity Plan We publicly announced a multi-year productivity plan on February 15, 2019 (2019 Productivity Plan) that leverages new technology and business models to further simplify, harmonize and automate processes; re-engineers our go-to-market and information systems, including deploying the right automation for each market; and simplifies our organization and optimize our manufacturing and supply chain footprint. To build on the successful implementation of the 2019 Productivity Plan, in 2022, we expanded and extended the plan through the end of 2028 to take advantage of additional opportunities within the initiatives described above. As a result, we expect to incur pre-tax charges of approximately $3.65 billion, including cash expenditures of approximately $2.9 billion. These pre-tax charges are expected to consist of approximately 55% of severance and other employee-related costs, 10% for asset impairments (all non-cash) resulting from plant closures and related actions, and 35% for other costs associated with the implementation of our initiatives. The total plan pre-tax charges are expected to be incurred by division approximately as follows: FLNA QFNA PBNA LatAm Europe AMESA APAC Corporate Expected pre-tax charges 10 % 1 % 30 % 10 % 25 % 5 % 4 % 15 % A summary of our 2019 Productivity Plan charges is as follows: 12 Weeks Ended 24 Weeks Ended 6/15/2024 6/17/2023 6/15/2024 6/17/2023 Cost of sales $ — $ 3 $ 6 $ 6 Selling, general and administrative expenses 66 89 149 199 Other pension and retiree medical benefits expense/(income) (a) 8 — 15 (1) Total restructuring and impairment charges $ 74 $ 92 $ 170 $ 204 After-tax amount $ 54 $ 63 $ 130 $ 161 Impact on net income attributable to PepsiCo per common share $ (0.04) $ (0.05) $ (0.09) $ (0.12) 12 Weeks Ended 24 Weeks Ended Plan-to-Date 6/15/2024 6/17/2023 6/15/2024 6/17/2023 through 6/15/2024 FLNA $ 13 $ 6 $ 35 $ 13 $ 287 QFNA — — 4 — 23 PBNA 5 5 15 10 282 LatAm 16 6 21 11 221 Europe 19 52 37 141 603 AMESA 3 — 3 5 100 APAC 4 4 4 5 89 Corporate 6 19 36 20 353 66 92 155 205 1,958 Other pension and retiree medical benefits expense/(income) (a) 8 — 15 (1) 112 Total $ 74 $ 92 $ 170 $ 204 $ 2,070 (a) Income amount represents adjustments for changes in estimates of previously recorded amounts. 12 Weeks Ended 24 Weeks Ended Plan-to-Date 6/15/2024 6/17/2023 6/15/2024 6/17/2023 through 6/15/2024 Severance and other employee costs $ 10 $ 50 $ 82 $ 142 $ 1,132 Asset impairments 3 — 4 — 196 Other costs 61 42 84 62 742 Total $ 74 $ 92 $ 170 $ 204 $ 2,070 A summary of our 2019 Productivity Plan activity for the 24 weeks ended June 15, 2024 is as follows: Severance and Other Employee Costs Asset Other Costs Total Liability as of December 30, 2023 $ 188 $ — $ 9 $ 197 2024 restructuring charges 82 4 84 170 Cash payments (84) — (89) (173) Non-cash charges and translation (11) (4) 14 (1) Liability as of June 15, 2024 $ 175 $ — $ 18 $ 193

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
Intangible Assets (Tables)	Jun. 15, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	A summary of our amortizable intangible assets is as follows: 6/15/2024 12/30/2023 Gross Accumulated Amortization Net Gross Accumulated Amortization Net Acquired franchise rights $ 832 $ (219) $ 613 $ 840 $ (214) $ 626 Customer relationships 553 (274) 279 560 (265) 295 Brands 1,081 (986) 95 1,093 (989) 104 Other identifiable intangibles 440 (276) 164 449 (275) 174 Total $ 2,906 $ (1,755) $ 1,151 $ 2,942 $ (1,743) $ 1,199
Schedule Of Change In Book Value Of Indefinite-Lived Intangible Assets	The change in the book value of indefinite-lived intangible assets is as follows: Balance 12/30/2023 Translation Balance 6/15/2024 FLNA Goodwill $ 453 $ (5) $ 448 Brands 251 — 251 Total 704 (5) 699 QFNA Goodwill 189 — 189 Total 189 — 189 PBNA Goodwill 11,961 (16) 11,945 Reacquired franchise rights 7,114 (29) 7,085 Acquired franchise rights 1,737 (5) 1,732 Brands 2,508 — 2,508 Total 23,320 (50) 23,270 LatAm Goodwill 460 (11) 449 Brands 82 (2) 80 Total 542 (13) 529 Europe Goodwill 3,166 (21) 3,145 Reacquired franchise rights 419 (4) 415 Acquired franchise rights 154 (4) 150 Brands 1,124 (5) 1,119 Total 4,863 (34) 4,829 AMESA Goodwill 991 (16) 975 Brands 137 (2) 135 Total 1,128 (18) 1,110 APAC Goodwill 508 (11) 497 Brands 204 (4) 200 Total 712 (15) 697 Total goodwill 17,728 (80) 17,648 Total reacquired franchise rights 7,533 (33) 7,500 Total acquired franchise rights 1,891 (9) 1,882 Total brands 4,306 (13) 4,293 Total $ 31,458 $ (135) $ 31,323

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
Share-Based Compensation (Tables)	Jun. 15, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan	The following table summarizes our total share-based compensation expense, which is primarily recorded in selling, general and administrative expenses: 12 Weeks Ended 24 Weeks Ended 6/15/2024 6/17/2023 6/15/2024 6/17/2023 Share-based compensation expense – equity awards $ 86 $ 86 $ 183 $ 179 Share-based compensation expense – liability awards 5 6 10 12 Restructuring charges 1 (1) (4) — Total $ 92 $ 91 $ 189 $ 191
Schedule of Share-based Payment Award, PepsiCo, Inc. Long-Term Incentive Plan	The following table summarizes share-based awards granted under the terms of the PepsiCo, Inc. Long-Term Incentive Plan: 24 Weeks Ended 6/15/2024 6/17/2023 Granted (a) Weighted-Average Grant Price Granted (a) Weighted-Average Grant Price Stock options 1.8 $ 164.25 2.0 $ 171.00 RSUs and PSUs 2.3 $ 164.25 2.1 $ 171.11 (a)
Schedule Of Weighted-Average Black-Scholes Fair Value Assumptions	Our weighted-average Black-Scholes fair value assumptions are as follows: 24 Weeks Ended 6/15/2024 6/17/2023 Expected life 7 years 7 years Risk-free interest rate 4.2 % 4.2 % Expected volatility 16 % 16 % Expected dividend yield 2.9 % 2.7 %

Pension and Retiree Medical B_2

Pension and Retiree Medical Benefits - Periodic Benefit Cost (Tables)	6 Months Ended
	Jun. 15, 2024
Retirement Benefits [Abstract]
Schedule of Defined Benefit Plans Disclosures	The components of net periodic benefit cost/(income) for pension and retiree medical plans are as follows: 12 Weeks Ended Pension Retiree Medical U.S. International 6/15/2024 6/17/2023 6/15/2024 6/17/2023 6/15/2024 6/17/2023 Service cost $ 80 $ 75 $ 12 $ 10 $ 8 $ 7 Other pension and retiree medical benefits income: Interest cost 135 137 36 34 8 9 Expected return on plan assets (202) (196) (50) (46) (3) (3) Amortization of prior service credits (5) (6) (1) — (1) (2) Amortization of net losses/(gains) 18 16 5 3 (6) (6) Settlement losses — — 2 — — — Special termination benefits 8 — — — — — Total other pension and retiree medical benefits income (46) (49) (8) (9) (2) (2) Total $ 34 $ 26 $ 4 $ 1 $ 6 $ 5 24 Weeks Ended Pension Retiree Medical U.S. International 6/15/2024 6/17/2023 6/15/2024 6/17/2023 6/15/2024 6/17/2023 Service cost $ 160 $ 151 $ 21 $ 18 $ 15 $ 13 Other pension and retiree medical benefits income: Interest cost 270 274 63 59 15 17 Expected return on plan assets (403) (393) (89) (81) (6) (6) Amortization of prior service credits (11) (12) (1) — (2) (3) Amortization of net losses/(gains) 36 32 9 5 (12) (12) Settlement losses — — 2 — — — Special termination benefits 15 (1) — — — — Total other pension and retiree medical benefits income (93) (100) (16) (17) (5) (4) Total $ 67 $ 51 $ 5 $ 1 $ 10 $ 9

Debt Obligations (Tables)

Debt Obligations (Tables)	6 Months Ended
Debt Obligations (Tables)	Jun. 15, 2024
Debt Disclosure [Abstract]
Schedule of Debt Issuances	In the 24 weeks ended June 15, 2024, we issued, through our wholly-owned consolidated finance subsidiary, PepsiCo Singapore Financing I Pte. Ltd., the following notes: (a) Interest Rate Maturity Date Principal Amount (b) Floating rate February 2027 $ 300 4.650 % February 2027 $ 550 4.550 % February 2029 $ 450 4.700 % February 2034 $ 450 (a) PepsiCo Singapore Financing I Pte. Ltd. is a finance subsidiary and has no assets, operations, revenues or cash flows other than those related to the issuance, administration and repayment of the notes and any other notes that may be issued in the future. The notes are fully and unconditionally guaranteed by PepsiCo, Inc. on a senior unsecured basis and may be assumed at any time by PepsiCo, Inc. as the primary and sole obligor. (b) Excludes debt issuance costs, discounts and premiums.

Financial Instruments (Tables)

Financial Instruments (Tables)	6 Months Ended
Financial Instruments (Tables)	Jun. 15, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Notional Amounts of Financial Instruments	The notional amounts of our financial instruments used to hedge the above risks as of June 15, 2024 and December 30, 2023 are as follows: Notional Amounts (a) 6/15/2024 12/30/2023 Commodity $ 1.4 $ 1.7 Foreign exchange $ 3.0 $ 3.8 Interest rate $ 0.7 $ 1.3 Net investment (b) $ 2.9 $ 3.0 (a) In billions. (b) The total notional amount of our net investment hedges consists of non-derivative debt instruments.
Summary of Fair Values of Financial Assets and Liabilities	The fair values of our financial assets and liabilities as of June 15, 2024 and December 30, 2023 are categorized as follows: 6/15/2024 12/30/2023 Fair Value Hierarchy Levels (a) Assets (a) Liabilities (a) Assets (a) Liabilities (a) Available-for-sale debt securities (b) 2,3 $ 1,519 $ — $ 1,334 $ — Index funds (c) 1 $ 315 $ — $ 292 $ — Prepaid forward contracts (d) 2 $ 13 $ — $ 13 $ — Deferred compensation (e) 2 $ — $ 493 $ — $ 477 Derivatives designated as cash flow hedging instruments: Foreign exchange (f) 2 $ 14 $ 13 $ 3 $ 31 Interest rate (f) 2 — 152 5 135 Commodity (g) 2 23 8 10 24 $ 37 $ 173 $ 18 $ 190 Derivatives not designated as hedging instruments: Foreign exchange (f) 2 $ 14 $ 14 $ 33 $ 38 Commodity (g) 2 7 3 5 13 $ 21 $ 17 $ 38 $ 51 Total derivatives at fair value (h) $ 58 $ 190 $ 56 $ 241 Total $ 1,905 $ 683 $ 1,695 $ 718 (a) Fair value hierarchy levels are categorized consistently by Level 1 (quoted prices in active markets for identical assets), Level 2 (significant other observable inputs) and Level 3 in both years. Unless otherwise noted, financial assets are classified on our balance sheet within prepaid expenses and other current assets and other assets. Financial liabilities are classified on our balance sheet within accounts payable and other current liabilities and other liabilities. (b) Includes Level 2 assets of $182 million and Level 3 assets of $1,337 million as of June 15, 2024, and Level 2 assets of $178 million and Level 3 assets of $1,156 million as of December 30, 2023 . As of June 15, 2024 and December 30, 2023, $1,519 million and $1,334 million were classified as other assets, respectively. The fair values of our Level 2 investments approximate the transaction price and any accrued returns, as well as the amortized cost. The fair value of our Level 3 investment in Celsius is estimated using probability-weighted discounted future cash flows based on a Monte Carlo simulation using significant unobservable inputs such as an 80% probability that a certain market-based condition will be met and an average estimated discount rate of 5.8% and 8.1% as of June 15, 2024 a nd December 30, 2023, respectively, based on Celsius’ estimated synthetic credit rating. An increase in the probability that certain market-based conditions will be met or a decrease in the discount rate would result in a higher fair value measurement, while a decrease in the probability that certain market-based conditions will be met or an increase in the discount rate would result in a lower fair value measurement. (c) Based on the price of index funds. These investments are classified as short-term investments and are used to manage a portion of market risk arising from our deferred compensation liability. (d) Based primarily on the price of our common stock. (e) Based on the fair value of investments corresponding to employees’ investment elections. (f) Based on recently reported market transactions of spot and forward rates. (g) Primarily based on recently reported market transactions of swap arrangements. (h) Derivative assets and liabilities are presented on a gross basis on our balance sheet. Amounts subject to enforceable master netting arrangements or similar agreements which are not offset on our balance sheet as of June 15, 2024 and December 30, 2023 were not material. Collateral received or posted against our asset or liability positions was not material. Exchange-traded commodity futures are cash-settled on a daily basis and, therefore, not included in the table.
Summary of Losses (Gains) On Derivative Instruments	Losses/(gains) on our cash flow and net investment hedges are categorized as follows: 12 Weeks Ended Losses/(Gains) Losses/(Gains) Reclassified from Accumulated Other Comprehensive Loss into Income Statement (a) 6/15/2024 6/17/2023 6/15/2024 6/17/2023 Foreign exchange $ (1) $ 43 $ 9 $ 14 Interest rate 9 (37) 11 (30) Commodity (11) (15) 30 28 Net investment (17) 71 — — Total $ (20) $ 62 $ 50 $ 12 24 Weeks Ended Losses/(Gains) Losses/(Gains) Reclassified from Accumulated Other Comprehensive Loss into Income Statement (a) 6/15/2024 6/17/2023 6/15/2024 6/17/2023 Foreign exchange $ (15) $ 59 $ 18 $ 15 Interest rate 34 (26) 35 (27) Commodity 28 50 51 37 Net investment (69) 108 — — Total $ (22) $ 191 $ 104 $ 25 (a) Foreign exchange derivative losses/(gains) are included in net revenue and cost of sales. Interest rate derivative losses/(gains) are included in selling, general and administrative expenses. Commodity derivative losses/(gains) are included in either cost of sales or selling, general and administrative expenses, depending on the underlying commodity. See Note 11 for further information. Losses/(gains) recognized in the income statement related to our non-designated hedges are categorized as follows: 12 Weeks Ended 6/15/2024 6/17/2023 Cost of sales Selling, general and administrative expenses Total Cost of sales Selling, general and administrative expenses Total Foreign exchange $ — $ 24 $ 24 $ — $ 44 $ 44 Commodity (14) 5 (9) 5 3 8 Total $ (14) $ 29 $ 15 $ 5 $ 47 $ 52 24 Weeks Ended 6/15/2024 6/17/2023 Cost of sales Selling, general and administrative expenses Total Cost of sales Selling, general and administrative expenses Total Foreign exchange $ — $ 42 $ 42 $ (1) $ 39 $ 38 Commodity (15) (20) (35) 36 53 89 Total $ (15) $ 22 $ 7 $ 35 $ 92 $ 127

Net Income Attributable to Pe_2

Net Income Attributable to PepsiCo per Common Share (Tables)	6 Months Ended
	Jun. 15, 2024
Earnings Per Share [Abstract]
Schedule of Basic And Diluted Net Income Per Common Share	The computations of basic and diluted net income attributable to PepsiCo per common share are as follows: 12 Weeks Ended 6/15/2024 6/17/2023 Income Shares (a) Income Shares (a) Basic net income attributable to PepsiCo per common share $ 2.24 $ 1.99 Net income available for PepsiCo common shareholders $ 3,083 1,375 $ 2,748 1,378 Dilutive securities: Stock options, RSUs, PSUs and other (b) — 4 — 6 Diluted $ 3,083 1,379 $ 2,748 1,384 Diluted net income attributable to PepsiCo per common share $ 2.23 $ 1.99 24 Weeks Ended 6/15/2024 6/17/2023 Income Shares (a) Income Shares (a) Basic net income attributable to PepsiCo per common share $ 3.73 $ 3.40 Net income available for PepsiCo common shareholders $ 5,125 1,375 $ 4,680 1,378 Dilutive securities: Stock options, RSUs, PSUs and other (b) — 5 — 6 Diluted $ 5,125 1,380 $ 4,680 1,384 Diluted net income attributable to PepsiCo per common share $ 3.71 $ 3.38 (a) Weighted-average common shares outstanding (in millions). (b) The dilutive effect of these securities is calculated using the treasury stock method.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss Attributable to PepsiCo (Tables)	6 Months Ended
	Jun. 15, 2024
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Loss Attributable to PepsiCo The changes in the balances of each component of accumulated other comprehensive loss attributable to PepsiCo are as follows: Currency Translation Adjustment Cash Flow Hedges Pension and Retiree Medical Available-for-Sale Debt Securities and Other (a) Accumulated Other Comprehensive Loss Attributable to PepsiCo Balance as of December 30, 2023 (b) $ (13,255) $ (31) $ (2,719) $ 471 $ (15,534) Other comprehensive (loss)/income before reclassifications (c) (168) (47) 4 685 474 Amounts reclassified from accumulated other comprehensive loss — 51 9 — 60 Net other comprehensive (loss)/income (168) 4 13 685 534 Tax amounts (14) (1) (2) (162) (179) Balance as of March 23, 2024 (b) (13,437) (28) (2,708) 994 (15,179) Other comprehensive (loss)/income before reclassifications (d) (295) 3 (1) (511) (804) Amounts reclassified from accumulated other comprehensive loss — 53 12 — 65 Net other comprehensive (loss)/income (295) 56 11 (511) (739) Tax amounts 28 (14) (2) 120 132 Balance as of June 15, 2024 (b) $ (13,704) $ 14 $ (2,699) $ 603 $ (15,786) (a) The movements during the quarters primarily represent fair value changes in available-for-sale debt securities, including our investment in Celsius convertible preferred stock. See Note 9 for further information. (b) Pension and retiree medical amounts are net of taxes of $1,282 million as of December 30, 2023, $1,280 million as of March 23, 2024 and $1,278 million as of June 15, 2024. (c) Currency translation adjustment primarily reflects depreciation of the South African rand, Canadian dollar and Russian ruble. (d) Currency translation adjustment primarily reflects depreciation of the Egyptian pound. Currency Translation Adjustment Cash Flow Hedges Pension and Retiree Medical Available-for-Sale Debt Securities and Other Accumulated Other Comprehensive Loss Attributable Balance as of December 31, 2022 (a) $ (12,948) $ 1 $ (2,361) $ 6 $ (15,302) Other comprehensive (loss) before reclassifications (b) (350) (92) (9) (1) (452) Amounts reclassified from accumulated other comprehensive loss (c) 108 13 5 — 126 Net other comprehensive (loss) (242) (79) (4) (1) (326) Tax amounts 7 20 — — 27 Balance as of March 25, 2023 (a) (13,183) (58) (2,365) 5 (15,601) Other comprehensive (loss)/income before reclassifications (d) (215) 19 (14) 1 (209) Amounts reclassified from accumulated other comprehensive loss — 12 5 — 17 Net other comprehensive (loss)/income (215) 31 (9) 1 (192) Tax amounts 17 (7) 3 — 13 Balance as of June 17, 2023 (a) $ (13,381) $ (34) $ (2,371) $ 6 $ (15,780) (a) Pension and retiree medical amounts are net of taxes of $1,184 million as of both December 31, 2022 and March 25, 2023 and $1,187 million as of June 17, 2023. (b) Currency translation adjustment primarily reflects depreciation of the Egyptian pound and Russian ruble. (c) Release of currency translation adjustment is in relation to the sale of a non-strategic brand and an investment within our AMESA division. (d) Currency translation adjustment primarily reflects depreciation of the Russian ruble. The reclassifications from accumulated other comprehensive loss to the income statement are summarized as follows: 12 Weeks Ended 24 Weeks Ended 6/15/2024 6/17/2023 6/15/2024 6/17/2023 Affected Line Item in the Income Statement Currency translation: Divestitures $ — $ — $ — $ 108 Selling, general and administrative expenses Cash flow hedges: Foreign exchange contracts $ — $ (1) $ — $ (3) Net revenue Foreign exchange contracts 9 15 18 18 Cost of sales Interest rate derivatives 14 (30) 35 (27) Selling, general and administrative expenses Commodity contracts 30 28 51 38 Cost of sales Commodity contracts — — — (1) Selling, general and administrative expenses Net losses before tax 53 12 104 25 Tax amounts (14) (3) (27) (7) Net losses after tax $ 39 $ 9 $ 77 $ 18 Pension and retiree medical items: Amortization of prior service credits $ (7) $ (8) $ (14) $ (15) Other pension and retiree medical benefits income Amortization of net losses 17 13 33 25 Other pension and retiree medical benefits income Settlement losses 2 — 2 — Other pension and retiree medical benefits income Net losses before tax 12 5 21 10 Tax amounts (2) (1) (4) (2) Net losses after tax $ 10 $ 4 $ 17 $ 8 Total net losses reclassified, net of tax $ 49 $ 13 $ 94 $ 134
Reclassifications out of Accumulated Other Comprehensive Loss	The reclassifications from accumulated other comprehensive loss to the income statement are summarized as follows: 12 Weeks Ended 24 Weeks Ended 6/15/2024 6/17/2023 6/15/2024 6/17/2023 Affected Line Item in the Income Statement Currency translation: Divestitures $ — $ — $ — $ 108 Selling, general and administrative expenses Cash flow hedges: Foreign exchange contracts $ — $ (1) $ — $ (3) Net revenue Foreign exchange contracts 9 15 18 18 Cost of sales Interest rate derivatives 14 (30) 35 (27) Selling, general and administrative expenses Commodity contracts 30 28 51 38 Cost of sales Commodity contracts — — — (1) Selling, general and administrative expenses Net losses before tax 53 12 104 25 Tax amounts (14) (3) (27) (7) Net losses after tax $ 39 $ 9 $ 77 $ 18 Pension and retiree medical items: Amortization of prior service credits $ (7) $ (8) $ (14) $ (15) Other pension and retiree medical benefits income Amortization of net losses 17 13 33 25 Other pension and retiree medical benefits income Settlement losses 2 — 2 — Other pension and retiree medical benefits income Net losses before tax 12 5 21 10 Tax amounts (2) (1) (4) (2) Net losses after tax $ 10 $ 4 $ 17 $ 8 Total net losses reclassified, net of tax $ 49 $ 13 $ 94 $ 134

Basis of Presentation and Our_4

Basis of Presentation and Our Divisions (Narrative) (Details) - segment	3 Months Ended		6 Months Ended
	Jun. 15, 2024	Jun. 17, 2023	Jun. 15, 2024	Jun. 17, 2023
Basis Of Presentation And Our Divisions [Line Items]
Number of Reportable Segments			7
Disaggregation of Net Revenue - Beverages	43%	42%	42%	42%
Disaggregation of Net Revenue - Convenient Food	57%	58%	58%	58%
LatAm
Basis Of Presentation And Our Divisions [Line Items]
Disaggregation of Net Revenue - Beverages	10%	9%	9%	9%
Disaggregation of Net Revenue - Convenient Food	90%	91%	91%	91%
Europe
Basis Of Presentation And Our Divisions [Line Items]
Disaggregation of Net Revenue - Beverages	48%	49%	47%	48%
Disaggregation of Net Revenue - Convenient Food	52%	51%	53%	52%
AMESA
Basis Of Presentation And Our Divisions [Line Items]
Disaggregation of Net Revenue - Beverages	33%	31%	33%	31%
Disaggregation of Net Revenue - Convenient Food	67%	69%	67%	69%
APAC
Basis Of Presentation And Our Divisions [Line Items]
Disaggregation of Net Revenue - Beverages	28%	26%	21%	21%
Disaggregation of Net Revenue - Convenient Food	72%	74%	79%	79%
United States and Canada
Basis Of Presentation And Our Divisions [Line Items]
Fiscal Period Duration	84 days

Basis of Presentation and Our_5

Basis of Presentation and Our Divisions - Segment Reporting Information by Net Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 15, 2024	Jun. 17, 2023	Jun. 15, 2024	Jun. 17, 2023
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Revenue	$ 22,501	$ 22,322	$ 40,751	$ 40,168
FLNA
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Revenue	5,874	5,904	11,550	11,487
QFNA
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Revenue	561	684	1,154	1,461
PBNA
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Revenue	6,811	6,755	12,685	12,553
LatAm
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Revenue	3,045	2,856	5,112	4,633
Europe
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Revenue	3,515	3,428	5,451	5,314
AMESA
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Revenue	1,592	1,568	2,632	2,587
APAC
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Revenue	$ 1,103	$ 1,127	$ 2,167	$ 2,133

Basis of Presentation and Our_6

Basis of Presentation and Our Divisions - Segment Reporting Information by % of Disaggregated Net Revenue (Details)	3 Months Ended		6 Months Ended
	Jun. 15, 2024	Jun. 17, 2023	Jun. 15, 2024	Jun. 17, 2023
Disaggregation of Revenue [Line Items]
Disaggregation of Net Revenue - Beverages	43%	42%	42%	42%
Disaggregation of Net Revenue - Convenient Food	57%	58%	58%	58%
Disaggregation of beverage revenue from company-owned bottlers	36%	37%	35%	36%
LatAm
Disaggregation of Revenue [Line Items]
Disaggregation of Net Revenue - Beverages	10%	9%	9%	9%
Disaggregation of Net Revenue - Convenient Food	90%	91%	91%	91%
Europe
Disaggregation of Revenue [Line Items]
Disaggregation of Net Revenue - Beverages	48%	49%	47%	48%
Disaggregation of Net Revenue - Convenient Food	52%	51%	53%	52%
AMESA
Disaggregation of Revenue [Line Items]
Disaggregation of Net Revenue - Beverages	33%	31%	33%	31%
Disaggregation of Net Revenue - Convenient Food	67%	69%	67%	69%
APAC
Disaggregation of Revenue [Line Items]
Disaggregation of Net Revenue - Beverages	28%	26%	21%	21%
Disaggregation of Net Revenue - Convenient Food	72%	74%	79%	79%

Basis of Presentation and Our_7

Basis of Presentation and Our Divisions - Segment Reporting Information by Operating Profit (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 15, 2024	Jun. 17, 2023	Jun. 15, 2024	Jun. 17, 2023
Segment Reporting Information [Line Items]
Operating Profit	$ 4,048	$ 3,659	$ 6,765	$ 6,288
Impairment Effect on Earnings Per Share, after Tax		$ 0.06		$ 0.06
Asset Impairment Charges, after-tax		$ 86		$ 86
Asset Impairment Charges		113	0	113
Product recall-related impact			182	0
Gain (Loss) on Disposition of Assets	76	85	76	85
Gain (Loss) on Disposition of Assets, After-Tax	$ 57	$ 65	$ 57	$ 65
Gain (Loss) on Disposition of Assets - per-share amount	$ 0.04	$ 0.05	$ 0.04	$ 0.05
Tropicana JV
Segment Reporting Information [Line Items]
Equity Method Investment, Ownership Percentage		39%		39%
Operating Segments
Segment Reporting Information [Line Items]
Operating Profit	$ 4,385	$ 4,040	$ 7,472	$ 7,140
Corporate
Segment Reporting Information [Line Items]
Operating Profit	(337)	(381)	(707)	(852)
FLNA \| Operating Segments
Segment Reporting Information [Line Items]
Operating Profit	1,592	1,647	3,146	3,246
QFNA
Segment Reporting Information [Line Items]
Product recall-related impact	15		182
Product recall-related impact - after-tax	$ 11		$ 139
Product recall-related impact - per-share amount	$ 0.01		$ 0.10
QFNA \| Cost of sales
Segment Reporting Information [Line Items]
Product recall-related impact	$ 8		$ 175
QFNA \| Selling, general and administrative expenses
Segment Reporting Information [Line Items]
Product recall-related impact	7		7
QFNA \| Operating Segments
Segment Reporting Information [Line Items]
Operating Profit	85	129	36	317
PBNA \| Operating Segments
Segment Reporting Information [Line Items]
Operating Profit	987	723	1,497	1,206
LatAm \| Operating Segments
Segment Reporting Information [Line Items]
Operating Profit	637	592	1,122	956
Europe \| Operating Segments
Segment Reporting Information [Line Items]
Operating Profit	620	476	822	547
AMESA \| Operating Segments
Segment Reporting Information [Line Items]
Operating Profit	241	250	393	418
APAC \| Operating Segments
Segment Reporting Information [Line Items]
Operating Profit	$ 223	$ 223	$ 456	$ 450

Restructuring and Impairment _3

Restructuring and Impairment Charges - (Expected Pre-Tax Charges for 2019 Productivity Plan) (Details) - 2019 Productivity Plan $ in Millions	Jun. 15, 2024 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	$ 3,650
Restructuring and Related Cost, Expected Cash Expenditures	$ 2,900
Severance and Other Employee Costs
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Percentage of Expect Costs	55%
Asset Impairments
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Percentage of Expect Costs	10%
Other Costs
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Percentage of Expect Costs	35%
Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Percentage of Expect Costs	15%
FLNA
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Percentage of Expect Costs	10%
QFNA
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Percentage of Expect Costs	1%
PBNA
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Percentage of Expect Costs	30%
LatAm
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Percentage of Expect Costs	10%
Europe
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Percentage of Expect Costs	25%
AMESA
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Percentage of Expect Costs	5%
APAC
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Percentage of Expect Costs	4%

Restructuring and Impairment _4

Restructuring and Impairment Charges - (Summary of 2019 Productivity Plan Charges) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 15, 2024	Jun. 17, 2023	Jun. 15, 2024	Jun. 17, 2023
Restructuring Cost and Reserve [Line Items]
Cash payments			$ (173)	$ (187)
2019 Productivity Plan
Restructuring Cost and Reserve [Line Items]
Liability as of December 30, 2023			197
2024 restructuring charges	$ 74	$ 92	170	$ 204
Cash payments			(173)
Non-cash charges and translation			(1)
Liability as of June 15, 2024	$ 193		$ 193
Impact on net income attributable to PepsiCo per common share	$ (0.04)	$ (0.05)	$ (0.09)	$ (0.12)
Restructuring and Related Cost, Cost Incurred to Date	$ 2,070		$ 2,070
2019 Productivity Plan \| FLNA
Restructuring Cost and Reserve [Line Items]
2024 restructuring charges	13	$ 6	35	$ 13
Restructuring and Related Cost, Cost Incurred to Date	287		287
2019 Productivity Plan \| QFNA
Restructuring Cost and Reserve [Line Items]
2024 restructuring charges	0	0	4	0
Restructuring and Related Cost, Cost Incurred to Date	23		23
2019 Productivity Plan \| PBNA
Restructuring Cost and Reserve [Line Items]
2024 restructuring charges	5	5	15	10
Restructuring and Related Cost, Cost Incurred to Date	282		282
2019 Productivity Plan \| AMESA
Restructuring Cost and Reserve [Line Items]
2024 restructuring charges	3	0	3	5
Restructuring and Related Cost, Cost Incurred to Date	100		100
2019 Productivity Plan \| APAC
Restructuring Cost and Reserve [Line Items]
2024 restructuring charges	4	4	4	5
Restructuring and Related Cost, Cost Incurred to Date	89		89
2019 Productivity Plan \| LatAm
Restructuring Cost and Reserve [Line Items]
2024 restructuring charges	16	6	21	11
Restructuring and Related Cost, Cost Incurred to Date	221		221
2019 Productivity Plan \| Europe
Restructuring Cost and Reserve [Line Items]
2024 restructuring charges	19	52	37	141
Restructuring and Related Cost, Cost Incurred to Date	603		603
Other than 2019 Productivity Plan
Restructuring Cost and Reserve [Line Items]
2024 restructuring charges			0
Corporate \| 2019 Productivity Plan
Restructuring Cost and Reserve [Line Items]
2024 restructuring charges	6	19	36	20
Restructuring and Related Cost, Cost Incurred to Date	353		353
Severance and Other Employee Costs \| 2019 Productivity Plan
Restructuring Cost and Reserve [Line Items]
Liability as of December 30, 2023			188
2024 restructuring charges	10	50	82	142
Cash payments			(84)
Non-cash charges and translation			(11)
Liability as of June 15, 2024	175		175
Restructuring and Related Cost, Cost Incurred to Date	1,132		1,132
Asset Impairments \| 2019 Productivity Plan
Restructuring Cost and Reserve [Line Items]
Liability as of December 30, 2023			0
2024 restructuring charges	3	0	4	0
Cash payments			0
Non-cash charges and translation			(4)
Liability as of June 15, 2024	0		0
Restructuring and Related Cost, Cost Incurred to Date	196		196
Other Costs \| 2019 Productivity Plan
Restructuring Cost and Reserve [Line Items]
Liability as of December 30, 2023			9
2024 restructuring charges	61	42	84	62
Cash payments			(89)
Non-cash charges and translation			14
Liability as of June 15, 2024	18		18
Restructuring and Related Cost, Cost Incurred to Date	742		742
Cost of sales \| 2019 Productivity Plan
Restructuring Cost and Reserve [Line Items]
2024 restructuring charges	0	3	6	6
Selling, general and administrative expenses \| 2019 Productivity Plan
Restructuring Cost and Reserve [Line Items]
2024 restructuring charges	66	89	149	199
Other pension and retiree medical benefits expense/(income) (a) \| 2019 Productivity Plan
Restructuring Cost and Reserve [Line Items]
2024 restructuring charges	8	0	15	(1)
Restructuring and Related Cost, Cost Incurred to Date	112		112
Restructuring, Settlement and Impairment Provisions, less Other pension and retiree medical benefits expense \| 2019 Productivity Plan
Restructuring Cost and Reserve [Line Items]
2024 restructuring charges	66	92	155	205
Restructuring and Related Cost, Cost Incurred to Date	1,958		1,958
After-tax amount \| 2019 Productivity Plan
Restructuring Cost and Reserve [Line Items]
2024 restructuring charges	$ 54	$ 63	$ 130	$ 161

Intangible Assets - Schedule of

Intangible Assets - Schedule of Finite-Lived Intangible Assets (Detail) - USD ($) $ in Millions	Jun. 15, 2024	Dec. 30, 2023
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 2,906	$ 2,942
Accumulated Amortization	(1,755)	(1,743)
Amortizable Intangible Assets, net	1,151	1,199
Acquired Franchise Rights
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	832	840
Accumulated Amortization	(219)	(214)
Amortizable Intangible Assets, net	613	626
Reacquired Franchise Rights
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	553	560
Accumulated Amortization	(274)	(265)
Amortizable Intangible Assets, net	279	295
Brands
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	1,081	1,093
Accumulated Amortization	(986)	(989)
Amortizable Intangible Assets, net	95	104
Other identifiable intangibles
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	440	449
Accumulated Amortization	(276)	(275)
Amortizable Intangible Assets, net	$ 164	$ 174

Intangible Assets - Schedule _2

Intangible Assets - Schedule of Change in Book Value of Indefinite-Lived Intangible Assets (Detail) $ in Millions	6 Months Ended
	Jun. 15, 2024 USD ($)
Indefinite-lived Intangible Assets [Line Items]
Balance 12/30/2023	$ 31,458
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(135)
Balance 6/15/2024	31,323
FLNA
Indefinite-lived Intangible Assets [Line Items]
Balance 12/30/2023	704
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(5)
Balance 6/15/2024	699
QFNA
Indefinite-lived Intangible Assets [Line Items]
Balance 12/30/2023	189
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	0
Balance 6/15/2024	189
PBNA
Indefinite-lived Intangible Assets [Line Items]
Balance 12/30/2023	23,320
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(50)
Balance 6/15/2024	23,270
AMESA
Indefinite-lived Intangible Assets [Line Items]
Balance 12/30/2023	1,128
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(18)
Balance 6/15/2024	1,110
APAC
Indefinite-lived Intangible Assets [Line Items]
Balance 12/30/2023	712
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(15)
Balance 6/15/2024	697
LatAm
Indefinite-lived Intangible Assets [Line Items]
Balance 12/30/2023	542
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(13)
Balance 6/15/2024	529
Europe
Indefinite-lived Intangible Assets [Line Items]
Balance 12/30/2023	4,863
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(34)
Balance 6/15/2024	4,829
Goodwill
Indefinite-lived Intangible Assets [Line Items]
Balance 12/30/2023	17,728
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(80)
Balance 6/15/2024	17,648
Goodwill \| FLNA
Indefinite-lived Intangible Assets [Line Items]
Balance 12/30/2023	453
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(5)
Balance 6/15/2024	448
Goodwill \| QFNA
Indefinite-lived Intangible Assets [Line Items]
Balance 12/30/2023	189
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	0
Balance 6/15/2024	189
Goodwill \| PBNA
Indefinite-lived Intangible Assets [Line Items]
Balance 12/30/2023	11,961
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(16)
Balance 6/15/2024	11,945
Goodwill \| AMESA
Indefinite-lived Intangible Assets [Line Items]
Balance 12/30/2023	991
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(16)
Balance 6/15/2024	975
Goodwill \| APAC
Indefinite-lived Intangible Assets [Line Items]
Balance 12/30/2023	508
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(11)
Balance 6/15/2024	497
Goodwill \| LatAm
Indefinite-lived Intangible Assets [Line Items]
Balance 12/30/2023	460
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(11)
Balance 6/15/2024	449
Goodwill \| Europe
Indefinite-lived Intangible Assets [Line Items]
Balance 12/30/2023	3,166
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(21)
Balance 6/15/2024	3,145
Brands
Indefinite-lived Intangible Assets [Line Items]
Balance 12/30/2023	4,306
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(13)
Balance 6/15/2024	4,293
Brands \| FLNA
Indefinite-lived Intangible Assets [Line Items]
Balance 12/30/2023	251
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	0
Balance 6/15/2024	251
Brands \| PBNA
Indefinite-lived Intangible Assets [Line Items]
Balance 12/30/2023	2,508
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	0
Balance 6/15/2024	2,508
Brands \| AMESA
Indefinite-lived Intangible Assets [Line Items]
Balance 12/30/2023	137
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(2)
Balance 6/15/2024	135
Brands \| APAC
Indefinite-lived Intangible Assets [Line Items]
Balance 12/30/2023	204
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(4)
Balance 6/15/2024	200
Brands \| LatAm
Indefinite-lived Intangible Assets [Line Items]
Balance 12/30/2023	82
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(2)
Balance 6/15/2024	80
Brands \| Europe
Indefinite-lived Intangible Assets [Line Items]
Balance 12/30/2023	1,124
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(5)
Balance 6/15/2024	1,119
Reacquired franchise rights
Indefinite-lived Intangible Assets [Line Items]
Balance 12/30/2023	7,533
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(33)
Balance 6/15/2024	7,500
Reacquired franchise rights \| PBNA
Indefinite-lived Intangible Assets [Line Items]
Balance 12/30/2023	7,114
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(29)
Balance 6/15/2024	7,085
Reacquired franchise rights \| Europe
Indefinite-lived Intangible Assets [Line Items]
Balance 12/30/2023	419
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(4)
Balance 6/15/2024	415
Acquired franchise rights
Indefinite-lived Intangible Assets [Line Items]
Balance 12/30/2023	1,891
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(9)
Balance 6/15/2024	1,882
Acquired franchise rights \| PBNA
Indefinite-lived Intangible Assets [Line Items]
Balance 12/30/2023	1,737
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(5)
Balance 6/15/2024	1,732
Acquired franchise rights \| Europe
Indefinite-lived Intangible Assets [Line Items]
Balance 12/30/2023	154
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(4)
Balance 6/15/2024	$ 150

Income Taxes Narrative (Details

Income Taxes Narrative (Details)	3 Months Ended
Income Taxes Narrative (Details)	Jun. 15, 2024
Income Tax Disclosure [Abstract]
Global Minimum Tax	0.15

Share-Based Compensation - Weig

Share-Based Compensation - Weighted Average Black Scholes Fair Value Assumptions (Detail)	6 Months Ended
	Jun. 15, 2024	Jun. 17, 2023
Black Scholes valuation assumptions [Abstract]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term	7 years	7 years
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	4.20%	4.20%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate	16%	16%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	2.90%	2.70%

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 15, 2024	Jun. 17, 2023	Jun. 15, 2024	Jun. 17, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized stock-based compensation expense	$ 86	$ 86	$ 183	$ 179
Compensation cost for share-based liabilities	5	6	10	12
Share-based Payment Arrangement, Expensed and Capitalized, Amount	92	91	189	191
Share based liability awards granted, target			19	20
Share-based Compensation
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restructuring and impairment charges	$ 1	$ (1)	$ (4)	$ 0
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			1.8	2
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Price			$ 164.25	$ 171
RSUs and PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period			2.3	2.1
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other Than Options, Grants in Period, Weighted Average Grant Price			$ 164.25	$ 171.11

Pension and Retiree Medical B_3

Pension and Retiree Medical Benefits - Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 15, 2024	Jun. 17, 2023	Jun. 15, 2024	Jun. 17, 2023
Domestic Plan
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Service Cost	$ 80	$ 75	$ 160	$ 151
Defined Benefit Plan, Interest Cost	135	137	270	274
Defined Benefit Plan, Expected Return (Loss) on Plan Assets	(202)	(196)	(403)	(393)
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	(5)	(6)	(11)	(12)
Defined Benefit Plan, Amortization of Gain (Loss)	18	16	36	32
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), (Gain) Loss Due to Settlement	0	0	0	0
Defined Benefit Plan, Benefit Obligation, Special and Contractual Termination Benefits				(1)
Defined Benefit Plan, Cost of Providing Special and Contractual Termination Benefits	8	0	15
Defined Benefit Plan, Other Cost (Credit)	(46)	(49)	(93)	(100)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Total	34	26	67	51
Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Service Cost	12	10	21	18
Defined Benefit Plan, Interest Cost	36	34	63	59
Defined Benefit Plan, Expected Return (Loss) on Plan Assets	(50)	(46)	(89)	(81)
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	(1)	0	(1)	0
Defined Benefit Plan, Amortization of Gain (Loss)	5	3	9	5
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), (Gain) Loss Due to Settlement	2		2
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), (Gain) Loss Due to Curtailment		0		0
Defined Benefit Plan, Cost of Providing Special and Contractual Termination Benefits	0	0	0	0
Defined Benefit Plan, Other Cost (Credit)	(8)	(9)	(16)	(17)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Total	4	1	5	1
Retiree Medical Plan
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Service Cost	8	7	15	13
Defined Benefit Plan, Interest Cost	8	9	15	17
Defined Benefit Plan, Expected Return (Loss) on Plan Assets	(3)	(3)	(6)	(6)
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	(1)	(2)	(2)	(3)
Defined Benefit Plan, Amortization of Gain (Loss)	(6)	(6)	(12)	(12)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), (Gain) Loss Due to Curtailment	0	0	0	0
Defined Benefit Plan, Cost of Providing Special and Contractual Termination Benefits	0	0	0	0
Defined Benefit Plan, Other Cost (Credit)	(2)	(2)	(5)	(4)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Total	$ 6	$ 5	$ 10	$ 9

Pension and Retiree Medical B_4

Pension and Retiree Medical Benefits - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 15, 2024	Jun. 17, 2023	Jun. 15, 2024	Jun. 17, 2023
Defined Benefit Plan Disclosure [Line Items]
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax	$ (9)	$ 6	$ (20)	$ 10
Domestic Plan
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Contributions by Employer			150	125
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	34	26	67	51
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement	0	0	0	0
Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Contributions by Employer			27	17
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	4	1	5	1
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement	$ (2)		$ (2)
Curtailment Gain		$ 0		$ 0

Debt Obligations - Summary of S

Debt Obligations - Summary of Senior Notes (Detail) $ in Millions	Jun. 15, 2024 USD ($)
Notes Due 2027 \| Floating Rate Percent Notes due 2027
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 300
Notes Due 2027 \| Four Point Six Five Percent Notes due 2027
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.65%
Debt Instrument, Face Amount	$ 550
Notes Due 2029 \| Four Point Five Five Percent Notes due 2029
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.55%
Debt Instrument, Face Amount	$ 450
Notes Due 2034 \| Four Point Seven Percent Notes due 2034
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.70%
Debt Instrument, Face Amount	$ 450

Debt Obligations - (Narrative)

Debt Obligations - (Narrative) (Details) € in Millions, $ in Millions, $ in Millions	Jun. 15, 2024 USD ($)	Jun. 15, 2024 EUR (€)	Jun. 15, 2024 CAD ($)	Jun. 17, 2023 USD ($)
Debt Instrument [Line Items]
Long-term Debt, Current Maturities	$ 1,300	€ 1,000	$ 800
Commercial Paper	4,400
Line of Credit Facility, Outstanding Borrowings	0
Five Year Unsecured Revolving Credit Agreement
Debt Instrument [Line Items]
Line of Credit Facility, Current Borrowing Capacity	5,000			$ 4,200
Line of Credit Facility, Maximum Borrowing Capacity	5,750
Line of Credit Swing Line Subfacility	750
364 Day Unsecured Revolving Credit Agreement Member
Debt Instrument [Line Items]
Line of Credit Facility, Current Borrowing Capacity	5,000			$ 4,200
Line of Credit Facility, Maximum Borrowing Capacity	$ 5,750

Financial Instruments - Celsius

Financial Instruments - Celsius (Detail) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 15, 2024	Jun. 15, 2024	Jun. 17, 2023	Dec. 30, 2023
Celsius [Line Items]
Impairment Losses, Investments, Available-for-Sale Securities1		$ 0	$ 0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Other Comprehensive Income (Loss)	$ (503)	188
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Period Increase (Decrease)	$ (7)	$ (7)
Significant unobservable input used in level 3 fair value measurement - Celsius	5.80%	5.80%		8.10%
Significant unobservable input used in level 3 fair value measurement - Celsius, probability assumption	80%	80%		80%
Debt Security, Available-for-sale, Level 3			0
Debt Securities, Available-for-Sale, Accumulated Gross Unrealized Gain (Loss), before Tax	$ 800	$ 800	$ 0

Financial Instruments - Additio

Financial Instruments - Additional Information (Detail) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 15, 2024	Dec. 30, 2023
Derivatives, Fair Value [Line Items]
Derivative with Credit Risk Related Contingent Features, Net Liability Position, Aggregate Fair Value	$ 141,000,000
Debt Instrument, Fair Value Disclosure	41,000,000,000	$ 41,000,000,000
Expected reclassification of net gain/(losses) related to hedge from accumulated OCI into net income within the next 12 months	(55,000,000)
Collateral Already Posted, Aggregate Fair Value	0
Credit-Risk-Related Contingent Features Triggered	0
Debt Securities, Held-to-maturity	$ 0
Gross Unrecognized (Gains) and Losses		not material.
Debt Securities, Held-to-Maturity, Allowance for Credit Loss		not material.
Commercial Paper
Derivatives, Fair Value [Line Items]
Debt Securities, Held-to-maturity		$ 309,000,000
Interest Rate Contract
Derivatives, Fair Value [Line Items]
Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate	14%	9%

Financial Instruments - Notiona

Financial Instruments - Notional Amounts of Financial Instruments (Detail) - USD ($) $ in Billions	Jun. 15, 2024	Dec. 30, 2023
Net Investment Hedging [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	$ 2.9	$ 3
Commodity Contract [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	1.4	1.7
Foreign Exchange Contract
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	3	3.8
Interest Rate Contract
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	$ 0.7	$ 1.3

Financial Instruments - Fair Va

Financial Instruments - Fair Values of Financial Assets and Liabilities (Detail) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 15, 2024	Dec. 30, 2023
Derivatives, Fair Value [Line Items]
Short-term Investments	$ 315	$ 292
Derivative Liability	190	241
Derivative Asset	58	56
Total Financial Assets At Fair Value	1,905	1,695
Total Financial Liabilities At Fair Value	$ 683	$ 718
Collateral Received or Posted against our Asset or Liability Positions	not material
Derivative Assets and Liabilities, Subject to Master Netting Arrangements, which are not offset on balance sheet.	not material	not material
Derivatives Designated As Cash Flow Hedging Instruments Assets
Derivatives, Fair Value [Line Items]
Derivatives designated as hedging instruments, Assets, Total	$ 37	$ 18
Derivatives Designated As Cash Flow Hedging Instruments Liabilities
Derivatives, Fair Value [Line Items]
Derivatives designated as hedging instruments, Liabilities, Total	173	190
Derivatives Not Designated As Hedging Instruments Assets
Derivatives, Fair Value [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Asset, at Fair Value	21	38
Derivatives Not Designated As Hedging Instruments Liabilities
Derivatives, Fair Value [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	17	51
Fair Value, Inputs, Level 2
Derivatives, Fair Value [Line Items]
Debt Securities, Available-for-Sale	182	178
Fair Value, Inputs, Level 2 \| Derivatives Designated As Cash Flow Hedging Instruments Assets
Derivatives, Fair Value [Line Items]
Foreign Exchange Forward contracts	14	3
Interest rate derivatives	0	5
Commodity contracts - other	23	10
Fair Value, Inputs, Level 2 \| Derivatives Designated As Cash Flow Hedging Instruments Liabilities
Derivatives, Fair Value [Line Items]
Foreign Exchange Forward contracts	13	31
Interest rate derivatives	152	135
Commodity contracts - other	8	24
Fair Value, Inputs, Level 2 \| Derivatives Not Designated As Hedging Instruments Assets
Derivatives, Fair Value [Line Items]
Foreign Exchange Forward contracts	14	33
Commodity contracts - other	7	5
Fair Value, Inputs, Level 2 \| Derivatives Not Designated As Hedging Instruments Liabilities
Derivatives, Fair Value [Line Items]
Foreign Exchange Forward contracts	14	38
Commodity contracts - other	3	13
Fair Value, Inputs, Level 2 \| Assets
Derivatives, Fair Value [Line Items]
Prepaid Forward Contract Fair Value	13	13
Deferred compensation	0	0
Fair Value, Inputs, Level 2 \| Liability
Derivatives, Fair Value [Line Items]
Prepaid Forward Contract Fair Value	0	0
Deferred compensation	493	477
Fair Value, Inputs, Level 1 \| Assets
Derivatives, Fair Value [Line Items]
Short-term Investments	315	292
Fair Value, Inputs, Level 1 \| Liability
Derivatives, Fair Value [Line Items]
Short-term Investments	0	0
Fair Value, Inputs, Level 3
Derivatives, Fair Value [Line Items]
Debt Securities, Available-for-Sale	1,337	1,156
Fair Value, Inputs, Level 2 and Level 3 \| Assets
Derivatives, Fair Value [Line Items]
Debt Securities, Available-for-Sale	1,519	1,334
Fair Value, Inputs, Level 2 and Level 3 \| Liability
Derivatives, Fair Value [Line Items]
Debt Securities, Available-for-Sale	0	0
Fair Value, Inputs, Level 2 and Level 3 \| Other Assets
Derivatives, Fair Value [Line Items]
Debt Securities, Available-for-Sale	$ 1,519	$ 1,334

Financial Instruments - Losses

Financial Instruments - Losses (Gains) On Derivative Instruments - Cash-flow and Net Investment Hedges (Detail) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 15, 2024	Mar. 23, 2024	Jun. 17, 2023	Mar. 25, 2023	Jun. 15, 2024	Jun. 17, 2023
Derivative Instruments, Loss (Gain) [Line Items]
Other Comprehensive (Income) Loss, (Gain) Loss, before Reclassification and Tax	$ (3)	$ 47	$ (19)	$ 92
Net Investment Hedging [Member]
Derivative Instruments, Loss (Gain) [Line Items]
Losses/(Gains) Reclassified from Accumulated Other Comprehensive Loss into Income Statement(b)	0		0		$ 0	$ 0
Other Comprehensive (Income) Loss, (Gain) Loss, before Reclassification and Tax	(17)		71		(69)	108
Foreign exchange \| Cash Flow Hedging [Member]
Derivative Instruments, Loss (Gain) [Line Items]
Losses/(Gains) Reclassified from Accumulated Other Comprehensive Loss into Income Statement(b)	9		14		18	15
Other Comprehensive (Income) Loss, (Gain) Loss, before Reclassification and Tax	(1)		43		(15)	59
Commodity Contract [Member] \| Cash Flow Hedging [Member]
Derivative Instruments, Loss (Gain) [Line Items]
Losses/(Gains) Reclassified from Accumulated Other Comprehensive Loss into Income Statement(b)	30		28		51	37
Other Comprehensive (Income) Loss, (Gain) Loss, before Reclassification and Tax	(11)		(15)		28	50
Interest Rate Contract \| Cash Flow Hedging [Member]
Derivative Instruments, Loss (Gain) [Line Items]
Losses/(Gains) Reclassified from Accumulated Other Comprehensive Loss into Income Statement(b)	11		(30)		35	(27)
Other Comprehensive (Income) Loss, (Gain) Loss, before Reclassification and Tax	9		(37)		34	(26)
Cash Flow Hedging [Member] \| Net Investment Hedging [Member]
Derivative Instruments, Loss (Gain) [Line Items]
Losses/(Gains) Reclassified from Accumulated Other Comprehensive Loss into Income Statement(b)	50		12		104	25
Other Comprehensive (Income) Loss, (Gain) Loss, before Reclassification and Tax	$ (20)		$ 62		$ (22)	$ 191

Financial Instruments - TBG Imp

Financial Instruments - TBG Impairment (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	6 Months Ended
	Jun. 17, 2023	Jun. 15, 2024	Jun. 17, 2023
Derivative Instruments, Loss (Gain) [Line Items]
Asset Impairment Charges, after-tax	$ 86		$ 86
Asset Impairment Charges	$ 113	$ 0	$ 113
Impairment Effect on Earnings Per Share, after Tax	$ 0.06		$ 0.06
Tropicana JV
Derivative Instruments, Loss (Gain) [Line Items]
Equity Method Investment, Ownership Percentage	39%		39%

Financial Instruments - Losse_2

Financial Instruments - Losses (Gains) Recognized in the Income Statement - Non-designated Hedges (Detail) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 15, 2024	Jun. 17, 2023	Jun. 15, 2024	Jun. 17, 2023
Nondesignated Hedges
Derivative Instruments, Loss (Gain) [Line Items]
Losses/(Gains) Recognized in Income Statement(a)	$ 15	$ 52	$ 7	$ 127
Nondesignated Hedges - Selling, General and Administrative Expenses
Derivative Instruments, Loss (Gain) [Line Items]
Losses/(Gains) Recognized in Income Statement(a)	29	47	22	92
Nondesignated Hedges - Cost of Sales
Derivative Instruments, Loss (Gain) [Line Items]
Losses/(Gains) Recognized in Income Statement(a)	(14)	5	(15)	35
Foreign Exchange Contract Losses/(Gains) Included in Cost of Sales \| Nondesignated Hedges - Cost of Sales
Derivative Instruments, Loss (Gain) [Line Items]
Losses/(Gains) Recognized in Income Statement(a)	0	0	0	(1)
Foreign Exchange Contract Losses/(Gains) Included in Selling, General and Administrative Expenses \| Nondesignated Hedges - Selling, General and Administrative Expenses
Derivative Instruments, Loss (Gain) [Line Items]
Losses/(Gains) Recognized in Income Statement(a)	24	44	42	39
Foreign exchange \| Nondesignated Hedges
Derivative Instruments, Loss (Gain) [Line Items]
Losses/(Gains) Recognized in Income Statement(a)	24	44	42	38
Commodity Contract Losses/(Gains) Included in Cost of Sales \| Nondesignated Hedges - Cost of Sales
Derivative Instruments, Loss (Gain) [Line Items]
Losses/(Gains) Recognized in Income Statement(a)	(14)	5	(15)	36
Commodity Contract Losses/(Gains) Included in Selling, General and Administrative Expenses \| Nondesignated Hedges - Selling, General and Administrative Expenses
Derivative Instruments, Loss (Gain) [Line Items]
Losses/(Gains) Recognized in Income Statement(a)	5	3	(20)	53
Commodity Contract [Member] \| Nondesignated Hedges
Derivative Instruments, Loss (Gain) [Line Items]
Losses/(Gains) Recognized in Income Statement(a)	$ (9)	$ 8	$ (35)	$ 89

Net Income Attributable to Pe_3

Net Income Attributable to PepsiCo per Common Share - Basic And Diluted Net Income Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 15, 2024	Jun. 17, 2023	Jun. 15, 2024	Jun. 17, 2023
Earnings Per Share [Abstract]
Earnings Per Share, Basic (in USD per share)	$ 2.24	$ 1.99	$ 3.73	$ 3.40
Net Income (Loss) Available to Common Stockholders, Basic	$ 3,083	$ 2,748	$ 5,125	$ 4,680
Weighted Average Number of Shares Outstanding, Basic (in shares)	1,375	1,378	1,375	1,378
Dilutive Securities [Abstract]
Dilutive Securities, Effect on Basic Earnings Per Share, Options and Restrictive Stock Units	$ 0	$ 0	$ 0	$ 0
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	4	6	5	6
Net Income (Loss) Available to Common Stockholders, Diluted	$ 3,083	$ 2,748	$ 5,125	$ 4,680
Weighted Average Number of Shares Outstanding, Diluted	1,379	1,384	1,380	1,384
Earnings Per Share, Diluted (in USD per share)	$ 2.23	$ 1.99	$ 3.71	$ 3.38
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	4		4

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss Attributable to PepsiCo - Schedule of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 15, 2024	Mar. 23, 2024	Jun. 17, 2023	Mar. 25, 2023	Jun. 15, 2024	Jun. 17, 2023	Dec. 30, 2023	Dec. 31, 2022
Statement of Other Comprehensive Income [Abstract]
Beginning balance	$ (13,437)	$ (13,255)	$ (13,183)	$ (12,948)	$ (13,255)	$ (12,948)
Other comprehensive (loss) before reclassifications (b)	(295)	(168)	(215)	(350)
Amounts reclassified from accumulated other comprehensive loss (c)	0	0	0	108	0	108
Net other comprehensive (loss)	(295)	(168)	(215)	(242)
Tax amounts	28	(14)	17	7
Ending balance	(13,704)	(13,437)	(13,381)	(13,183)	(13,704)	(13,381)
Beginning balance	(28)	(31)	(58)	1	(31)	1
Other comprehensive (loss) before reclassifications (b)	3	(47)	19	(92)
Amounts reclassified from accumulated other comprehensive loss (c)	53	51	12	13	104	25
Net other comprehensive (loss)	56	4	31	(79)
Tax amounts	(14)	(1)	(7)	20
Ending balance	14	(28)	(34)	(58)	14	(34)
Beginning balance	2,708	2,719	2,365	2,361	2,719	2,361
Other comprehensive (loss)/income before reclassifications (d)	(1)	4	(14)	(9)
Amounts reclassified from accumulated other comprehensive loss	12	9	5	5	21	10
Net other comprehensive (loss)/income	11	13	(9)	(4)
Tax amounts	(2)	(2)	3	0
Ending balance	2,699	2,708	2,371	2,365	2,699	2,371
Beginning balance	994	471	5	6	471	6
Other comprehensive (loss)/income before reclassifications (d)	(511)	685	1	(1)
Amounts reclassified from accumulated other comprehensive loss	0	0	0	0
Net other comprehensive (loss)/income	(511)	685	1	(1)
Tax amounts	120	(162)	0	0
Ending balance	603	994	6	5	603	6
OCI, before Reclassifications, before Tax, Attributable to Parent	(804)	474	(209)	(452)
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent	65	60	17	126
Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent	(739)	534	(192)	(326)
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent	132	(179)	13	27
Accumulated Other Comprehensive Income (Loss), Net of Tax	(15,786)	(15,179)	(15,780)	(15,601)	$ (15,786)	(15,780)	$ (15,534)	$ (15,302)
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]					Selling, general and administrative expenses
Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Post retirement Plans Taxes	1,278	1,280	1,187	1,184	$ 1,278	1,187	1,282	1,184
Reclassification Adjustments out of Accumulated Other Comprehensive Income [Line Items]
Accumulated Other Comprehensive Income Loss Defined Benefit Pension And Other Post retirement Plans Taxes	1,278	$ 1,280	1,187	$ 1,184	1,278	1,187	$ 1,282	$ 1,184
Interest Rate Contract \| Cash Flow Hedging [Member]
Statement of Other Comprehensive Income [Abstract]
Other comprehensive (loss) before reclassifications (b)	(9)		37		(34)	26
Reclassification Adjustments out of Accumulated Other Comprehensive Income [Line Items]
Losses/(Gains) Reclassified from Accumulated Other Comprehensive Loss into Income Statement(b)	11		$ (30)		35	$ (27)
Tropicana JV \| Interest Rate Contract \| Cash Flow Hedging [Member]
Reclassification Adjustments out of Accumulated Other Comprehensive Income [Line Items]
Losses/(Gains) Reclassified from Accumulated Other Comprehensive Loss into Income Statement(b)	$ 14				$ 35

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss Attributable to PepsiCo - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 15, 2024	Mar. 23, 2024	Jun. 17, 2023	Mar. 25, 2023	Jun. 15, 2024	Jun. 17, 2023
Reclassification Adjustments out of Accumulated Other Comprehensive Income [Line Items]
Amounts reclassified from accumulated other comprehensive loss (c)	$ 0	$ 0	$ 0	$ 108	$ 0	$ 108
Cash flow hedges:
Amounts reclassified from accumulated other comprehensive loss (c)	53	51	12	13	104	25
Tax amounts	(14)		(3)		(27)	(7)
Net losses after tax	39		9		77	18
Pension and retiree medical items:
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax	(7)		(8)		(14)	(15)
Amortization of net losses	17		13		33	25
Settlement losses	2		0		2	0
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, before Tax	12	9	5	5	21	10
Tax amounts	(2)		(1)		(4)	(2)
Net losses after tax	10		4		17	8
Total net losses reclassified, net of tax	49		13		94	134
Net other comprehensive (loss)	56	4	31	(79)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	(53)	$ (51)	(12)	$ (13)	(104)	(25)
Tax amounts	(14)		(3)		(27)	(7)
Net losses after tax	39		9		77	18
Cash Flow Hedging [Member] \| Foreign exchange
Cash flow hedges:
Losses/(gains) on cash flow hedges	9		14		18	15
Cash Flow Hedging [Member] \| Foreign exchange \| Revenue, Net
Cash flow hedges:
Losses/(gains) on cash flow hedges	0		(1)		0	(3)
Cash Flow Hedging [Member] \| Foreign exchange \| Cost of sales
Cash flow hedges:
Losses/(gains) on cash flow hedges	9		15		18	18
Cash Flow Hedging [Member] \| Interest Rate Contract
Cash flow hedges:
Losses/(gains) on cash flow hedges	11		(30)		35	(27)
Cash Flow Hedging [Member] \| Commodity contracts
Cash flow hedges:
Losses/(gains) on cash flow hedges	30		28		51	37
Cash Flow Hedging [Member] \| Commodity contracts \| Cost of sales
Cash flow hedges:
Losses/(gains) on cash flow hedges	30		28		51	38
Cash Flow Hedging [Member] \| Commodity contracts \| Selling, general and administrative expenses
Cash flow hedges:
Losses/(gains) on cash flow hedges	$ 0		$ 0		$ 0	$ (1)

Acquisitions & Divestitures - S

Acquisitions & Divestitures - Summary of Income Statement (Juice Transaction) (Details)	Jun. 17, 2023
Tropicana JV
Acquisitions & Divestitures [Line Items]
Equity Method Investment, Ownership Percentage	39%

Supply Chain Financing (Details

Supply Chain Financing (Details) - USD ($) $ in Billions	Jun. 15, 2024	Dec. 30, 2023
Text Block [Abstract]
Utilization under Supply Chain Financing Programs	$ 1.6	$ 1.7