PepsiCo (PEP) 10-Q 24 Apr 23 2023 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 25, 2023	Apr. 18, 2023
Document and Entity Information [Line Items]
Document Type	10-Q
Document Period End Date	Mar. 25, 2023
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		1,377,693,115
Entity Central Index Key	0000077476
Current Fiscal Year End Date	--12-30
Document Fiscal Year Focus	2023
Entity Filer Category	Large Accelerated Filer
Document Fiscal Period Focus	Q1
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
0.250% Senior Notes Due 2024
Document and Entity Information [Line Items]
Title of 12(b) Security	0.250% Senior Notes Due 2024
Trading Symbol	PEP24
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
	Mar. 25, 2023	Mar. 19, 2022
Net Revenue	$ 17,846	$ 16,200
Cost of sales	7,988	7,433
Gross profit	9,858	8,767
Selling, general and administrative expenses	7,229	6,580
Gain associated with the Juice Transaction	0	(3,322)
Impairment of Intangible Assets (Excluding Goodwill)	0	242
Operating Profit	2,629	5,267
Other pension and retiree medical benefits income	61	134
Net interest expense and other	(200)	(240)
Income before income taxes	2,490	5,161
Provision for income taxes	546	888
Net income	1,944	4,273
Net Income (Loss) Attributable to Noncontrolling Interest	12	12
Net Income Attributable to PepsiCo	$ 1,932	$ 4,261
Earnings Per Share [Abstract]
Earnings Per Share, Basic (in USD per share)	$ 1.40	$ 3.08
Earnings Per Share, Diluted (in USD per share)	$ 1.40	$ 3.06
Weighted-average common shares outstanding
Weighted Average Number of Shares Outstanding, Basic (in shares)	1,378	1,383
Weighted Average Number of Shares Outstanding, Diluted (in shares)	1,384	1,391
Tropicana JV
Income Statement Additional Disclosure
Equity Method Investment, Ownership Percentage		39%

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended
	Mar. 25, 2023	Mar. 19, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 1,944	$ 4,273
Net currency translation adjustment	(235)	(560)
Net change on cash flow hedges	(59)	106
Net pension and retiree medical adjustments	(4)	13
Other	(1)	(4)
Other comprehensive loss, net of taxes:	(299)	(445)
Comprehensive income	1,645	3,828
Less: Comprehensive income attributable to noncontrolling interests	12	12
Comprehensive Income Attributable to PepsiCo	$ 1,633	$ 3,816

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 25, 2023	Mar. 19, 2022
Operating Activities
Net income	$ 1,944	$ 4,273
Depreciation and amortization	590	555
Gain associated with the Juice Transaction	0	(3,322)
Impairment and other (credits)/charges	(13)	482
Operating lease right-of-use asset amortization	116	103
Share-based compensation expense	93	81
Restructuring and impairment charges	112	27
Cash payments for restructuring charges	(64)	(32)
Acquisition and divestiture-related charges	2	56
Cash payments for acquisition and divestiture-related charges	(4)	(17)
Pension and retiree medical plan expense/(income)	30	(1)
Pension and retiree medical plan contributions	(175)	(178)
Deferred income taxes and other tax charges and credits	78	257
Change in assets and liabilities:
Accounts and notes receivable	(348)	(837)
Inventories	(542)	(549)
Prepaid expenses and other current assets	(288)	(190)
Accounts payable and other current liabilities	(2,259)	(1,238)
Income taxes payable	290	489
Other, net	46	(133)
Net Cash Used for Operating Activities	(392)	(174)
Investing Activities
Capital spending	(581)	(522)
Sales of property, plant and equipment	19	3
Acquisitions, net of cash acquired, investments in noncontrolled affiliates and purchases of intangible and other assets	(16)	(13)
Proceeds associated with the Juice Transaction	0	3,456
Other divestitures, sales of investments in noncontrolled affiliates and other assets	85	5
Short-term investments, by original maturity:
More than three months - purchases	(158)	0
More than three months - maturities	100	0
Three months or less, net	19	22
Other investing, net	0	4
Net Cash (Used for)/Provided by Investing Activities	(532)	2,955
Financing Activities
Proceeds from issuances of long-term debt	2,986	0
Payments of long-term debt	(1,251)	(1,251)
Short-term borrowings, by original maturity:
More than three months - proceeds	393	559
More than three months - payments	(1)	0
Three months or less, net	491	647
Cash dividends paid	(1,608)	(1,505)
Share repurchases - common	(160)	(193)
Proceeds from exercises of stock options	46	49
Withholding tax payments on restricted stock units (RSUs) and performance stock units (PSUs) converted	(116)	(85)
Other financing	(3)	(1)
Net Cash Provided by/(Used for) Financing Activities	777	(1,780)
Effect of exchange rate changes on cash and cash equivalents and restricted cash	(116)	(17)
Net (Decrease)/Increase in Cash and Cash Equivalents and Restricted Cash	(263)	984
Cash and Cash Equivalents and Restricted Cash, Beginning of Year	5,100	5,707
Cash and Cash Equivalents and Restricted Cash, End of Period	4,837	6,691
Supplemental Non-Cash Activity
Right-of-use assets obtained in exchange for lease obligations	$ 213	$ 100

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEET - USD ($) shares in Millions, $ in Millions	Mar. 25, 2023	Dec. 31, 2022
Current Assets
Cash and cash equivalents	$ 4,770	$ 4,954
Short-term investments	434	394
Accounts and notes receivable, less allowance ($184 and $150, respectively)	10,469	10,163
Inventories:
Raw materials and packaging	2,435	2,366
Work-in-process	115	114
Finished goods	3,147	2,742
Inventory, Net, Total	5,697	5,222
Prepaid expenses and other current assets	1,057	806
Total Current Assets	22,427	21,539
Property, plant and equipment	50,022	49,784
Accumulated depreciation	(25,794)	(25,493)
Property, Plant and Equipment, net	24,228	24,291
Amortizable Intangible Assets, net	1,250	1,277
Goodwill	18,089	18,202
Other Indefinite-Lived Intangible Assets	14,273	14,309
Investments in Noncontrolled Affiliates	3,123	3,073
Deferred Income Taxes	4,211	4,204
Other Assets	5,441	5,292
Total Assets	93,042	92,187
Current Liabilities
Short-term debt obligations	4,281	3,414
Accounts payable and other current liabilities	21,556	23,371
Total Current Liabilities	25,837	26,785
Long-Term Debt Obligations	37,486	35,657
Deferred Income Taxes	4,039	4,133
Other Liabilities	8,505	8,339
Total Liabilities	75,867	74,914
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: 1,378 and 1,377 shares, respectively)	23	23
Capital in excess of par value	3,996	4,134
Retained earnings	68,142	67,800
Accumulated other comprehensive loss	(15,601)	(15,302)
Repurchased common stock, in excess of par value (489 and 490 shares, respectively)	(39,518)	(39,506)
Total PepsiCo Common Shareholders’ Equity	17,042	17,149
Noncontrolling interests	133	124
Total Equity	17,175	17,273
Total Liabilities and Equity	$ 93,042	$ 92,187
Treasury Stock, Common, Shares	489	490

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEET (Parenthetical) - $ / shares shares in Millions	Mar. 25, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value (in USD per share)	$ 0.0167	$ 0.0167
Common stock, authorized (in shares)	3,600	3,600
Common stock, issued (in shares)	1,378	1,377

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)		$ 1.075
Balance, beginning of period, shares (in shares) at Dec. 25, 2021			1,383
Balance, beginning of period at Dec. 25, 2021			$ 23	$ 4,001	$ 65,165	$ (14,898)		$ 108	$ (38,248)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Changes in repurchased common stock (in shares)			1						(1)
Change in repurchased common stock			$ 0
Share-based compensation expense				83
Stock option exercises, RSUs and PSUs converted				(106)					$ 156
Withholding tax on RSUs and PSUs converted				(85)
Net income attributable to PepsiCo		$ 4,261			4,261
Cash dividends declared - common	[1]				(1,492)
Other comprehensive loss attributable to PepsiCo						(445)
Balance, beginning of period, shares issued (in shares) at Dec. 25, 2021									(484)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock option exercises, RSUs and PSUs converted (in shares)									2
Share repurchases									$ (213)
Balance, end of period, shares issued (in shares) at Mar. 19, 2022									(483)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to noncontrolling interest		12						12
Distributions to noncontrolling interests								0
Other, net								(2)
Balance, end of period, shares (in shares) at Mar. 19, 2022			1,384
Balance, end of period at Mar. 19, 2022		$ 18,320	$ 23	3,893	67,934	(15,343)	$ 18,202	118	$ (38,305)
Common stock, dividends, declared (in USD per share)		$ 1.15
Balance, beginning of period, shares (in shares) at Dec. 31, 2022			1,377
Balance, beginning of period at Dec. 31, 2022		$ 17,273	$ 23	4,134	67,800	(15,302)		124	$ (39,506)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Changes in repurchased common stock (in shares)			1						(1)
Change in repurchased common stock			$ 0
Share-based compensation expense				94
Stock option exercises, RSUs and PSUs converted				(116)					$ 162
Withholding tax on RSUs and PSUs converted				(116)
Net income attributable to PepsiCo		1,932			1,932
Cash dividends declared - common	[1]				(1,590)
Other comprehensive loss attributable to PepsiCo						(299)
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)									2
Share repurchases									$ (174)
Balance, end of period, shares issued (in shares) at Mar. 25, 2023									(489)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income attributable to noncontrolling interest		12						12
Distributions to noncontrolling interests								(1)
Other, net								(2)
Balance, end of period, shares (in shares) at Mar. 25, 2023			1,378
Balance, end of period at Mar. 25, 2023		$ 17,175	$ 23	$ 3,996	$ 68,142	$ (15,601)	$ 17,042	$ 133	$ (39,518)
[1] Cash dividends declared per common share were $1.15 and $1.075 for the 12 weeks ended March 25, 2023 and March 19, 2022, respectively.

Basis of Presentation and Our D

Basis of Presentation and Our Divisions	3 Months Ended
	Mar. 25, 2023
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 31, 2022 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 31, 2022 (2022 Form 10-K). This report should be read in conjunction with our 2022 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 weeks ended March 25, 2023 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 January and February are reflected in our results for the 12 weeks ended March 25, 2023 and March 19, 2022. 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 the Russia-Ukraine conflict 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 3/25/2023 3/19/2022 FLNA $ 5,583 $ 4,839 QFNA 777 713 PBNA 5,798 5,353 LatAm 1,777 1,474 Europe 1,886 1,797 AMESA 1,019 1,004 APAC 1,006 1,020 Total $ 17,846 $ 16,200 Our primary performance obligation is the distribution and sales of beverage and convenient food products to our customers. The following tables reflect the approximate 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 3/25/2023 3/19/2022 Beverages (a) Convenient Foods Beverages (a) Convenient Foods LatAm 10 % 90 % 10 % 90 % Europe 45 % 55 % 50 % 50 % AMESA 30 % 70 % 30 % 70 % APAC 15 % 85 % 15 % 85 % PepsiCo 40 % 60 % 40 % 60 % (a) Beverage revenue from company-owned bottlers, which primarily includes our consolidated bottling operations in our PBNA and Europe divisions, is approximately 35% of our consolidated net revenue in each of the 12 weeks ended March 25, 2023 and March 19, 2022. 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 3/25/2023 3/19/2022 FLNA $ 1,599 $ 1,296 QFNA 188 159 PBNA (a) 483 3,434 LatAm 364 323 Europe (a) (b) 71 (136) AMESA 168 180 APAC 227 215 Total divisions 3,100 5,471 Corporate unallocated expenses (471) (204) Total $ 2,629 $ 5,267 (a) In the 12 weeks ended March 19, 2022, we recorded a gain of $3,024 million and $298 million in our PBNA and Europe divisions, respectively, associated with the Juice Transaction. The total after-tax amount was $2,870 million or $2.06 per share. See Note 12 for further information. (b) In the 12 weeks ended March 19, 2022, we recognized impairment and other charges/credits as follows: (1) Pre-tax charges of $241 million ($241 million after-tax or $0.17 per share), as a result of the Russia-Ukraine conflict, including impairment related to property, plant and equipment, allowance for expected credit losses, inventory write downs and other charges, with $140 million recorded in cost of sales, $100 million recorded in selling, general and administrative expenses and $1 million recorded in impairment of intangible assets. (2) Pre-tax brand portfolio impairment charges of $241 million ($193 million after-tax or $0.14 per share) in impairment of intangible assets related to the repositioning or discontinuation of certain juice and dairy brands in Russia. See Note 4 for further information. For information on indefinite-lived intangible assets, see Notes 2 and 4 to our consolidated financial statements in our 2022 Form 10-K.

Recently Issued Accounting Pron

Recently Issued Accounting Pronouncements (Notes)	3 Months Ended
	Mar. 25, 2023
Accounting Changes and Error Corrections [Abstract]
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Adopted In September 2022, the Financial Accounting Standards Board 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 in fiscal year 2024 with early adoption permitted. We currently plan to adopt the rollforward guidance when effective. See Note 13 for disclosures currently required under this guidance.

Restructuring and Impairment Ch

Restructuring and Impairment Charges	3 Months Ended
	Mar. 25, 2023
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 will leverage new technology and business models to further simplify, harmonize and automate processes; re-engineer our go-to-market and information systems, including deploying the right automation for each market; and simplify 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 15 % 1 % 25 % 10 % 25 % 5 % 4 % 15 % A summary of our 2019 Productivity Plan charges is as follows: 12 Weeks Ended 3/25/2023 3/19/2022 Cost of sales $ 3 $ 5 Selling, general and administrative expenses 110 22 Other pension and retiree medical benefits income (a) (1) — Total restructuring and impairment charges $ 112 $ 27 After-tax amount $ 98 $ 21 Impact on net income attributable to PepsiCo per common share $ (0.07) $ (0.02) 12 Weeks Ended Plan to Date 3/25/2023 3/19/2022 through 3/25/2023 FLNA $ 7 $ 3 $ 217 QFNA — — 19 PBNA 5 3 231 LatAm 5 6 176 Europe 89 7 432 AMESA 5 2 87 APAC 1 1 78 Corporate 1 5 230 113 27 1,470 Other pension and retiree medical benefits (income)/expense (a) (1) — 97 Total $ 112 $ 27 $ 1,567 (a) Income amount represents adjustments for changes in estimates of previously recorded amounts. 12 Weeks Ended Plan to Date 3/25/2023 3/19/2022 through 3/25/2023 Severance and other employee costs $ 92 $ 11 $ 899 Asset impairments — — 190 Other costs 20 16 478 Total $ 112 $ 27 $ 1,567 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 contract termination costs, consulting and other professional fees. A summary of our 2019 Productivity Plan activity for the 12 weeks ended March 25, 2023 is as follows: Severance and Other Employee Costs Other Costs Total Liability as of December 31, 2022 $ 188 $ 8 $ 196 2023 restructuring charges 92 20 112 Cash payments (44) (20) (64) Non-cash charges and translation (4) — (4) Liability as of March 25, 2023 $ 232 $ 8 $ 240 Substantially all of the restructuring accrual at March 25, 2023 is expected to be paid by the end of 2023. Other Productivity Initiatives There were no 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. See Notes 1 and 4 for impairment and other charges/credits taken related to the Russia-Ukraine conflict and brand portfolio impairment charges.

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 25, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets During the 12 weeks ended March 19, 2022, we repositioned or discontinued certain juice and dairy brands in Russia in our Europe division. As a result, we recognized pre-tax impairment charges (included in brand portfolio impairment charges) of $241 million ($193 million after-tax or $0.14 per share) in impairment of intangible assets, primarily related to indefinite-lived intangible assets. See Note 1 for further information. For further information on indefinite-lived intangible assets, see Notes 2 and 4 to our consolidated financial statements in our 2022 Form 10-K. A summary of our amortizable intangible assets is as follows: 3/25/2023 12/31/2022 Gross Accumulated Amortization Net Gross Accumulated Amortization Net Acquired franchise rights $ 833 $ (202) $ 631 $ 837 $ (200) $ 637 Customer relationships 563 (240) 323 571 (237) 334 Brands 1,085 (969) 116 1,097 (973) 124 Other identifiable intangibles 445 (265) 180 447 (265) 182 Total $ 2,926 $ (1,676) $ 1,250 $ 2,952 $ (1,675) $ 1,277 The change in the book value of indefinite-lived intangible assets is as follows: Balance 12/31/2022 Translation Balance 3/25/2023 FLNA Goodwill $ 451 $ (2) $ 449 Brands 251 — 251 Total 702 (2) 700 QFNA Goodwill 189 — 189 Total 189 — 189 PBNA Goodwill 11,947 (7) 11,940 Reacquired franchise rights 7,061 (12) 7,049 Acquired franchise rights 1,758 (2) 1,756 Brands 2,508 1 2,509 Total 23,274 (20) 23,254 LatAm Goodwill 436 7 443 Brands 75 2 77 Total 511 9 520 Europe Goodwill 3,646 (56) 3,590 Reacquired franchise rights 421 (8) 413 Acquired franchise rights 148 (1) 147 Brands 1,664 (1) 1,663 Total 5,879 (66) 5,813 AMESA Goodwill 1,015 (52) 963 Brands 156 (13) 143 Total 1,171 (65) 1,106 APAC Goodwill 518 (3) 515 Brands 267 (2) 265 Total 785 (5) 780 Total goodwill 18,202 (113) 18,089 Total reacquired franchise rights 7,482 (20) 7,462 Total acquired franchise rights 1,906 (3) 1,903 Total brands 4,921 (13) 4,908 Total $ 32,511 $ (149) $ 32,362

Income Taxes

Income Taxes	3 Months Ended
	Mar. 25, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes In 2021, we received a final assessment from the Internal Revenue Service (IRS) audit for the tax years 2014 through 2016. The assessment included both agreed and unagreed issues. On October 29, 2021, we filed a formal written protest of the assessment and requested an appeals conference. In 2022 , we came to an agreement with the IRS to settle one of the issues assessed in the 2014 through 2016 tax audit. The agreement covers tax years 2014 through 2019. As a result, we adjusted our reserves for uncertain tax positions, including any correlating adjustments impacting the mandatory transition tax liability under the Tax Cuts and Jobs Act (TCJ Act). Tax years 2014 through 2019 remain under audit for other issues . See Note 5 to our consolidated financial statements in our 2022 Form 10-K for further information. There were no tax amounts recognized in the 12 weeks ended March 25, 2023 and March 19, 2022 from this agreement.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Mar. 25, 2023
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 3/25/2023 3/19/2022 Share-based compensation expense – equity awards $ 93 $ 81 Share-based compensation expense – liability awards 6 5 Acquisition and divestiture-related charges — 3 Restructuring charges 1 (1) Total $ 100 $ 88 The following table summarizes share-based awards granted under the terms of the PepsiCo, Inc. Long-Term Incentive Plan: 12 Weeks Ended 3/25/2023 3/19/2022 Granted (a) Weighted-Average Grant Price Granted (a) Weighted-Average Grant Price Stock options 2.0 $ 171.00 2.1 $ 163.00 RSUs and PSUs 2.1 $ 171.00 2.3 $ 163.00 (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 $18 million during the 12 weeks ended March 25, 2023 and March 19, 2022, respectively. Our weighted-average Black-Scholes fair value assumptions are as follows: 12 Weeks Ended 3/25/2023 3/19/2022 Expected life 7 years 7 years Risk-free interest rate 4.2 % 1.7 % Expected volatility 16 % 16 % Expected dividend yield 2.7 % 2.5 %

Pension and Retiree Medical Ben

Pension and Retiree Medical Benefits (Notes)	3 Months Ended
	Mar. 25, 2023
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 3/25/2023 3/19/2022 3/25/2023 3/19/2022 3/25/2023 3/19/2022 Service cost $ 76 $ 114 $ 8 $ 17 $ 6 $ 8 Other pension and retiree medical benefits income: Interest cost 137 88 25 17 8 4 Expected return on plan assets (197) (215) (35) (42) (3) (3) Amortization of prior service credits (6) (6) — — (1) (2) Amortization of net losses/(gains) 16 33 2 5 (6) (3) Settlement/curtailment gains — — — — — (16) Special termination benefits (1) 6 — — — — Total other pension and retiree medical benefits income (51) (94) (8) (20) (2) (20) Total $ 25 $ 20 $ — $ (3) $ 4 $ (12) We regularly evaluate opportunities to reduce risk and volatility associated with our pension and retiree medical plans. During the 12 weeks ended March 25, 2023 and March 19, 2022, we made discretionary contributions of $125 million and $75 million, respectively, to our U.S. qualified defined benefit plans, and $17 million and $10 million, respectively, to our international defined benefit plans. We expect to make an additional discretionary contribution of $125 million to our U.S. qualified defined benefit plans in the third quarter of 2023.

Debt Obligations

Debt Obligations	3 Months Ended
	Mar. 25, 2023
Debt Disclosure [Abstract]
Debt Disclosure	Debt Obligations In the 12 weeks ended March 25, 2023, we issued the following notes: Interest Rate Maturity Date Principal Amount (a) Floating rate February 2026 $ 350 4.550 % February 2026 $ 500 4.450 % May 2028 $ 650 4.450 % February 2033 $ 1,000 4.650 % February 2053 $ 500 (a) 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 12 weeks ended March 25, 2023, $1.3 billion of USD-denominated senior notes matured and were paid. Subsequent to March 25, 2023, we discharged via legal defeasance $94 million outstanding principal amount of certain notes originally issued by our subsidiary, The Quaker Oats Company, following the deposit of $102 million of U.S. government securities with the Bank of New York Mellon, as trustee, in the fourth quarter of 2022. As of March 25, 2023, we had $800 million of commercial paper outstanding, excluding discounts.

Financial Instruments

Financial Instruments	3 Months Ended
	Mar. 25, 2023
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 12 weeks ended March 25, 2023 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 2022 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 March 25, 2023 was $228 million. We have posted no collateral under these contracts and no credit-risk-related contingent features were triggered as of March 25, 2023. The notional amounts of our financial instruments used to hedge the above risks as of March 25, 2023 and December 31, 2022 are as follows: Notional Amounts (a) 3/25/2023 12/31/2022 Commodity $ 1.8 $ 1.8 Foreign exchange $ 2.8 $ 3.0 Interest rate $ 1.3 $ 1.3 Net investment (b) $ 2.9 $ 2.9 (a) In billions. (b) The total notional of our net investment hedge consists of non-derivative debt instruments. As of March 25, 2023, approximately 4% of total debt, after the impact of the related interest rate derivative instruments, was subject to variable rates, compared to 1% as of December 31, 2022. Debt Securities Available-for-Sale Investments in available-for-sale debt securities are reported at fair value. Changes in the fair value of available-for-sale debt securities are generally recognized in accumulated other comprehensive loss within common shareholders’ equity. Changes in the fair value of available-for-sale debt securities impact earnings only when such securities are sold, or an allowance for expected credit losses or impairment is recognized. We regularly evaluate our investment portfolio for expected credit losses and impairment. In making this judgment, we evaluate, among other things, the extent to which the fair value of a debt security is less than its amortized cost; the financial condition of the issuer, including the credit quality, and any changes thereto; and our intent to sell, or whether we will more likely than not be required to sell, the debt security before recovery of its amortized cost basis. Our assessment of whether a debt security has a credit loss or is impaired could change in the future due to new developments or changes in assumptions related to any particular debt security. There were no unrealized gains and losses on our investments as of March 25, 2023. There were no impairment charges related to our investments for the 12 weeks ended March 25, 2023. Fair Value Measurements The fair values of our financial assets and liabilities as of March 25, 2023 and December 31, 2022 are categorized as follows: 3/25/2023 12/31/2022 Fair Value Hierarchy Levels (a) Assets (a) Liabilities (a) Assets (a) Liabilities (a) Available-for-sale debt securities (b) 2 $ 658 $ — $ 660 $ — Index funds (c) 1 $ 250 $ — $ 257 $ — Prepaid forward contracts (d) 2 $ 14 $ — $ 14 $ — Deferred compensation (e) 2 $ — $ 432 $ — $ 434 Derivatives designated as cash flow hedging instruments: Foreign exchange (f) 2 $ 23 $ 34 $ 24 $ 22 Interest rate (f) 2 — 175 — 164 Commodity (g) 2 2 50 2 60 $ 25 $ 259 $ 26 $ 246 Derivatives not designated as hedging instruments: Foreign exchange (f) 2 $ 17 $ 17 $ 21 $ 21 Commodity (g) 2 9 45 11 51 $ 26 $ 62 $ 32 $ 72 Total derivatives at fair value (h) $ 51 $ 321 $ 58 $ 318 Total $ 973 $ 753 $ 989 $ 752 (a) Fair value hierarchy levels are categorized consistently by Level 1 (quoted prices in active markets for identical assets) and Level 2 (significant other observable inputs) 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) Primarily related to our investment in Celsius Holdings, Inc. convertible preferred stock. The fair value of our investment approximates the transaction price and any accrued dividends, as well as the amortized cost. As of March 25, 2023, $99 million and $559 million were classified as short-term investments and other assets, respectively. As of December 31, 2022, $3 million, $104 million and $553 million were classified as cash equivalents, short-term investments and other assets, respectively. (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 March 25, 2023 and December 31, 2022 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 March 25, 2023 and December 31, 2022 was $39 billion and $35 billion, respectively, 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) 3/25/2023 3/19/2022 3/25/2023 3/19/2022 Foreign exchange $ 16 $ (8) $ 1 $ (4) Interest rate 11 (3) 3 20 Commodity 65 (189) 9 (78) Net investment 37 (51) — — Total $ 129 $ (251) $ 13 $ (62) (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 $119 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 3/25/2023 3/19/2022 Cost of sales Selling, general and administrative expenses Total Cost of sales Selling, general and administrative expenses Total Foreign exchange $ (1) $ (5) $ (6) $ 11 $ (27) $ (16) Commodity 31 50 81 (74) (92) (166) Total $ 30 $ 45 $ 75 $ (63) $ (119) $ (182)

Net Income Attributable to Peps

Net Income Attributable to PepsiCo per Common Share	3 Months Ended
	Mar. 25, 2023
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 3/25/2023 3/19/2022 Income Shares (a) Income Shares (a) Basic net income attributable to PepsiCo per common share $ 1.40 $ 3.08 Net income available for PepsiCo common shareholders $ 1,932 1,378 $ 4,261 1,383 Dilutive securities: Stock options, RSUs, PSUs and other (b) — 6 — 8 Diluted $ 1,932 1,384 $ 4,261 1,391 Diluted net income attributable to PepsiCo per common share $ 1.40 $ 3.06 (a) Weighted-average common shares outstanding (in millions). (b) The dilutive effect of these securities is calculated using the treasury stock method.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss Attributable to PepsiCo	3 Months Ended
	Mar. 25, 2023
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 Other Accumulated Other Comprehensive Loss Attributable to PepsiCo 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) (a) Pension and retiree medical amounts are net of taxes of $1,184 million as of both December 31, 2022 and March 25, 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. Currency Translation Adjustment Cash Flow Hedges Pension and Retiree Medical Other Accumulated Other Comprehensive Loss Attributable to PepsiCo Balance as of December 25, 2021 (a) $ (12,309) $ 159 $ (2,750) $ 2 $ (14,898) Other comprehensive (loss)/income before reclassifications (b) (549) 200 (8) — (357) Amounts reclassified from accumulated other comprehensive loss — (62) 25 — (37) Net other comprehensive (loss)/income (549) 138 17 — (394) Tax amounts (11) (32) (4) (4) (51) Balance as of March 19, 2022 (a) $ (12,869) $ 265 $ (2,737) $ (2) $ (15,343) (a) Pension and retiree medical amounts are net of taxes of $1,283 million as of December 25, 2021 and $1,279 million as of March 19, 2022. (b) Currency translation adjustment primarily reflects depreciation of the Russian ruble, partially offset by the appreciation of the South African rand, Brazilian real and Canadian dollar. The reclassifications from accumulated other comprehensive loss to the income statement are summarized as follows: 12 Weeks Ended 3/25/2023 3/19/2022 Affected Line Item in the Income Statement Currency translation: Divestitures $ 108 $ — Selling, general and administrative expenses Cash flow hedges: Foreign exchange contracts $ (2) $ (2) Net revenue Foreign exchange contracts 3 (2) Cost of sales Interest rate derivatives 3 20 Selling, general and administrative expenses Commodity contracts 10 (76) Cost of sales Commodity contracts (1) (2) Selling, general and administrative expenses Net losses/(gains) before tax 13 (62) Tax amounts (4) 10 Net losses/(gains) after tax $ 9 $ (52) Pension and retiree medical items: Amortization of prior service credits $ (7) $ (8) Other pension and retiree medical benefits income Amortization of net losses 12 35 Other pension and retiree medical benefits income Settlement/curtailment gains — (2) Other pension and retiree medical benefits income Net losses before tax 5 25 Tax amounts (1) (6) Net losses after tax $ 4 $ 19 Total net losses/(gains) reclassified, net of tax $ 121 $ (33)

Acquisitions & Divestitures

Acquisitions & Divestitures	3 Months Ended
	Mar. 25, 2023	Mar. 19, 2022
Acquisitions & Divestitures [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures Acquisition and Divestiture-Related Charges Acquisition and divestiture-related charges include merger and integration charges and costs associated with divestitures. Divestiture-related charges reflect transaction expenses, including consulting, advisory and other professional fees. A summary of our acquisition and divestiture-related charges is as follows: 12 Weeks Ended 3/25/2023 3/19/2022 PBNA $ 2 $ 37 Europe — 10 Corporate — 3 Total (a) 2 50 Other pension and retiree medical benefits expense — 6 Total acquisition and divestiture-related charges $ 2 $ 56 After-tax amount $ 1 $ 47 Impact on net income attributable to PepsiCo per common share $ — $ (0.03) (a) Recorded in selling, general and administrative expenses.	Juice Transaction In the 12 weeks ended March 19, 2022, we sold our Tropicana, Naked and other select juice brands to PAI Partners for $3.5 billion in cash and a 39% noncontrolling interest in TBG, operating across North America and Europe. In the United States, PepsiCo acts as the exclusive distributor for TBG’s portfolio of brands for small-format and foodservice customers with chilled direct-store-delivery. We have significant influence over our investment in TBG and account for our investment under the equity method, recognizing our proportionate share of TBG’s earnings on our income statement (recorded in selling, general and administrative expenses). As a result of this transaction, in the year ended December 31, 2022, we recorded a pre-tax gain of $3.3 billion ($2.9 billion after-tax or $2.08 per share) in our PBNA and Europe divisions, including $520 million related to the remeasurement of our 39% ownership in TBG at fair value using a combination of the transaction price, discounted cash flo ws and an option pricing model related to our liquidation preference in TBG . See Note 13 to our consolidated financial statements in our 2022 Form 10-K for further information.

Supply Chain Financing

Supply Chain Financing	3 Months Ended
	Mar. 25, 2023
Text Block [Abstract]
Supply Chain Financing	Supply Chain Financing ArrangementsAs part of our evolving market practices, we work with our suppliers to optimize our terms and conditions, which include the extension of payment terms. Our current payment terms with a majority of our suppliers generally range from 60 to 90 days, which we deem to be commercially reasonable. We will continue to monitor economic conditions and market practice working with our suppliers to adjust as necessary. We also 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. Supplier participation in these financing arrangements is voluntary. Our suppliers negotiate their financing agreements directly with the respective global financial institutions and we are not a party to these agreements. These financing arrangements allow participating suppliers to leverage PepsiCo’s creditworthiness in establishing credit spreads and associated costs, which generally provides our suppliers with more favorable terms than they would be able to secure on their own. Neither PepsiCo nor any of its subsidiaries provide any guarantees to any third party in connection with these financing arrangements. We have no economic interest in our suppliers’ decision to participate in these agreements. Our obligations to our suppliers, including amounts due and scheduled payment terms, are not impacted. All outstanding amounts related to suppliers participating in such financing arrangements are recorded within accounts payable and other current liabilities in our condensed consolidated balance sheet. As of March 25, 2023 and December 31, 2022, $1.9 billion and $1.7 billion, respectively, of our accounts payable are to suppliers participating in these financing arrangements.

Basis of Presentation and Our_2

Basis of Presentation and Our Divisions (Policies)	3 Months Ended
	Mar. 25, 2023
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 January and February are reflected in our results for the 12 weeks ended

Accounting Policies (Policies)

Accounting Policies (Policies)	3 Months Ended
	Mar. 25, 2023
Accounting Policies [Abstract]
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Adopted In September 2022, the Financial Accounting Standards Board 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 in fiscal year 2024 with early adoption permitted. We currently plan to adopt the rollforward guidance when effective. See Note 13 for disclosures currently required under this guidance.

Basis of Presentation and Our_3

Basis of Presentation and Our Divisions (Tables)	3 Months Ended
	Mar. 25, 2023
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 3/25/2023 3/19/2022 FLNA $ 5,583 $ 4,839 QFNA 777 713 PBNA 5,798 5,353 LatAm 1,777 1,474 Europe 1,886 1,797 AMESA 1,019 1,004 APAC 1,006 1,020 Total $ 17,846 $ 16,200
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 approximate 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 3/25/2023 3/19/2022 Beverages (a) Convenient Foods Beverages (a) Convenient Foods LatAm 10 % 90 % 10 % 90 % Europe 45 % 55 % 50 % 50 % AMESA 30 % 70 % 30 % 70 % APAC 15 % 85 % 15 % 85 % PepsiCo 40 % 60 % 40 % 60 % (a) Beverage revenue from company-owned bottlers, which primarily includes our consolidated bottling operations in our PBNA and Europe divisions, is approximately 35% of our consolidated net revenue in each of the 12 weeks ended March 25, 2023 and March 19, 2022. 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 3/25/2023 3/19/2022 FLNA $ 1,599 $ 1,296 QFNA 188 159 PBNA (a) 483 3,434 LatAm 364 323 Europe (a) (b) 71 (136) AMESA 168 180 APAC 227 215 Total divisions 3,100 5,471 Corporate unallocated expenses (471) (204) Total $ 2,629 $ 5,267 (a) In the 12 weeks ended March 19, 2022, we recorded a gain of $3,024 million and $298 million in our PBNA and Europe divisions, respectively, associated with the Juice Transaction. The total after-tax amount was $2,870 million or $2.06 per share. See Note 12 for further information. (b) In the 12 weeks ended March 19, 2022, we recognized impairment and other charges/credits as follows: (1) Pre-tax charges of $241 million ($241 million after-tax or $0.17 per share), as a result of the Russia-Ukraine conflict, including impairment related to property, plant and equipment, allowance for expected credit losses, inventory write downs and other charges, with $140 million recorded in cost of sales, $100 million recorded in selling, general and administrative expenses and $1 million recorded in impairment of intangible assets. (2) Pre-tax brand portfolio impairment charges of $241 million ($193 million after-tax or $0.14 per share) in impairment of intangible assets related to the repositioning or discontinuation of certain juice and dairy brands in Russia. See Note 4 for further information. For information on indefinite-lived intangible assets, see Notes 2 and 4 to our consolidated financial statements in our 2022 Form 10-K.

Restructuring and Impairment _2

Restructuring and Impairment Charges (Tables)	3 Months Ended
	Mar. 25, 2023
2019 Productivity Plan
Restructuring Cost and Reserve [Line Items]
Summary of Productivity Plan Activity	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 15 % 1 % 25 % 10 % 25 % 5 % 4 % 15 % A summary of our 2019 Productivity Plan charges is as follows: 12 Weeks Ended 3/25/2023 3/19/2022 Cost of sales $ 3 $ 5 Selling, general and administrative expenses 110 22 Other pension and retiree medical benefits income (a) (1) — Total restructuring and impairment charges $ 112 $ 27 After-tax amount $ 98 $ 21 Impact on net income attributable to PepsiCo per common share $ (0.07) $ (0.02) 12 Weeks Ended Plan to Date 3/25/2023 3/19/2022 through 3/25/2023 FLNA $ 7 $ 3 $ 217 QFNA — — 19 PBNA 5 3 231 LatAm 5 6 176 Europe 89 7 432 AMESA 5 2 87 APAC 1 1 78 Corporate 1 5 230 113 27 1,470 Other pension and retiree medical benefits (income)/expense (a) (1) — 97 Total $ 112 $ 27 $ 1,567 (a) Income amount represents adjustments for changes in estimates of previously recorded amounts. 12 Weeks Ended Plan to Date 3/25/2023 3/19/2022 through 3/25/2023 Severance and other employee costs $ 92 $ 11 $ 899 Asset impairments — — 190 Other costs 20 16 478 Total $ 112 $ 27 $ 1,567 A summary of our 2019 Productivity Plan activity for the 12 weeks ended March 25, 2023 is as follows: Severance and Other Employee Costs Other Costs Total Liability as of December 31, 2022 $ 188 $ 8 $ 196 2023 restructuring charges 92 20 112 Cash payments (44) (20) (64) Non-cash charges and translation (4) — (4) Liability as of March 25, 2023 $ 232 $ 8 $ 240

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Mar. 25, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	A summary of our amortizable intangible assets is as follows: 3/25/2023 12/31/2022 Gross Accumulated Amortization Net Gross Accumulated Amortization Net Acquired franchise rights $ 833 $ (202) $ 631 $ 837 $ (200) $ 637 Customer relationships 563 (240) 323 571 (237) 334 Brands 1,085 (969) 116 1,097 (973) 124 Other identifiable intangibles 445 (265) 180 447 (265) 182 Total $ 2,926 $ (1,676) $ 1,250 $ 2,952 $ (1,675) $ 1,277
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 12/31/2022 Translation Balance 3/25/2023 FLNA Goodwill $ 451 $ (2) $ 449 Brands 251 — 251 Total 702 (2) 700 QFNA Goodwill 189 — 189 Total 189 — 189 PBNA Goodwill 11,947 (7) 11,940 Reacquired franchise rights 7,061 (12) 7,049 Acquired franchise rights 1,758 (2) 1,756 Brands 2,508 1 2,509 Total 23,274 (20) 23,254 LatAm Goodwill 436 7 443 Brands 75 2 77 Total 511 9 520 Europe Goodwill 3,646 (56) 3,590 Reacquired franchise rights 421 (8) 413 Acquired franchise rights 148 (1) 147 Brands 1,664 (1) 1,663 Total 5,879 (66) 5,813 AMESA Goodwill 1,015 (52) 963 Brands 156 (13) 143 Total 1,171 (65) 1,106 APAC Goodwill 518 (3) 515 Brands 267 (2) 265 Total 785 (5) 780 Total goodwill 18,202 (113) 18,089 Total reacquired franchise rights 7,482 (20) 7,462 Total acquired franchise rights 1,906 (3) 1,903 Total brands 4,921 (13) 4,908 Total $ 32,511 $ (149) $ 32,362

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Mar. 25, 2023
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 3/25/2023 3/19/2022 Share-based compensation expense – equity awards $ 93 $ 81 Share-based compensation expense – liability awards 6 5 Acquisition and divestiture-related charges — 3 Restructuring charges 1 (1) Total $ 100 $ 88
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: 12 Weeks Ended 3/25/2023 3/19/2022 Granted (a) Weighted-Average Grant Price Granted (a) Weighted-Average Grant Price Stock options 2.0 $ 171.00 2.1 $ 163.00 RSUs and PSUs 2.1 $ 171.00 2.3 $ 163.00
Schedule Of Weighted-Average Black-Scholes Fair Value Assumptions	Our weighted-average Black-Scholes fair value assumptions are as follows: 12 Weeks Ended 3/25/2023 3/19/2022 Expected life 7 years 7 years Risk-free interest rate 4.2 % 1.7 % Expected volatility 16 % 16 % Expected dividend yield 2.7 % 2.5 %

Pension and Retiree Medical B_2

Pension and Retiree Medical Benefits - Periodic Benefit Cost (Tables)	3 Months Ended
	Mar. 25, 2023
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 3/25/2023 3/19/2022 3/25/2023 3/19/2022 3/25/2023 3/19/2022 Service cost $ 76 $ 114 $ 8 $ 17 $ 6 $ 8 Other pension and retiree medical benefits income: Interest cost 137 88 25 17 8 4 Expected return on plan assets (197) (215) (35) (42) (3) (3) Amortization of prior service credits (6) (6) — — (1) (2) Amortization of net losses/(gains) 16 33 2 5 (6) (3) Settlement/curtailment gains — — — — — (16) Special termination benefits (1) 6 — — — — Total other pension and retiree medical benefits income (51) (94) (8) (20) (2) (20) Total $ 25 $ 20 $ — $ (3) $ 4 $ (12)

Debt Obligations (Tables)

Debt Obligations (Tables)	3 Months Ended
	Mar. 25, 2023
Debt Disclosure [Abstract]
Schedule of Debt Issuances	In the 12 weeks ended March 25, 2023, we issued the following notes: Interest Rate Maturity Date Principal Amount (a) Floating rate February 2026 $ 350 4.550 % February 2026 $ 500 4.450 % May 2028 $ 650 4.450 % February 2033 $ 1,000 4.650 % February 2053 $ 500 (a) Excludes debt issuance costs, discounts and premiums.

Financial Instruments (Tables)

Financial Instruments (Tables)	3 Months Ended
	Mar. 25, 2023
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 March 25, 2023 and December 31, 2022 are as follows: Notional Amounts (a) 3/25/2023 12/31/2022 Commodity $ 1.8 $ 1.8 Foreign exchange $ 2.8 $ 3.0 Interest rate $ 1.3 $ 1.3 Net investment (b) $ 2.9 $ 2.9 (a) In billions. (b) The total notional of our net investment hedge 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 March 25, 2023 and December 31, 2022 are categorized as follows: 3/25/2023 12/31/2022 Fair Value Hierarchy Levels (a) Assets (a) Liabilities (a) Assets (a) Liabilities (a) Available-for-sale debt securities (b) 2 $ 658 $ — $ 660 $ — Index funds (c) 1 $ 250 $ — $ 257 $ — Prepaid forward contracts (d) 2 $ 14 $ — $ 14 $ — Deferred compensation (e) 2 $ — $ 432 $ — $ 434 Derivatives designated as cash flow hedging instruments: Foreign exchange (f) 2 $ 23 $ 34 $ 24 $ 22 Interest rate (f) 2 — 175 — 164 Commodity (g) 2 2 50 2 60 $ 25 $ 259 $ 26 $ 246 Derivatives not designated as hedging instruments: Foreign exchange (f) 2 $ 17 $ 17 $ 21 $ 21 Commodity (g) 2 9 45 11 51 $ 26 $ 62 $ 32 $ 72 Total derivatives at fair value (h) $ 51 $ 321 $ 58 $ 318 Total $ 973 $ 753 $ 989 $ 752 (a) Fair value hierarchy levels are categorized consistently by Level 1 (quoted prices in active markets for identical assets) and Level 2 (significant other observable inputs) 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) Primarily related to our investment in Celsius Holdings, Inc. convertible preferred stock. The fair value of our investment approximates the transaction price and any accrued dividends, as well as the amortized cost. As of March 25, 2023, $99 million and $559 million were classified as short-term investments and other assets, respectively. As of December 31, 2022, $3 million, $104 million and $553 million were classified as cash equivalents, short-term investments and other assets, respectively. (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 March 25, 2023 and December 31, 2022 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) 3/25/2023 3/19/2022 3/25/2023 3/19/2022 Foreign exchange $ 16 $ (8) $ 1 $ (4) Interest rate 11 (3) 3 20 Commodity 65 (189) 9 (78) Net investment 37 (51) — — Total $ 129 $ (251) $ 13 $ (62) (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 3/25/2023 3/19/2022 Cost of sales Selling, general and administrative expenses Total Cost of sales Selling, general and administrative expenses Total Foreign exchange $ (1) $ (5) $ (6) $ 11 $ (27) $ (16) Commodity 31 50 81 (74) (92) (166) Total $ 30 $ 45 $ 75 $ (63) $ (119) $ (182)

Net Income Attributable to Pe_2

Net Income Attributable to PepsiCo per Common Share (Tables)	3 Months Ended
	Mar. 25, 2023
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 3/25/2023 3/19/2022 Income Shares (a) Income Shares (a) Basic net income attributable to PepsiCo per common share $ 1.40 $ 3.08 Net income available for PepsiCo common shareholders $ 1,932 1,378 $ 4,261 1,383 Dilutive securities: Stock options, RSUs, PSUs and other (b) — 6 — 8 Diluted $ 1,932 1,384 $ 4,261 1,391 Diluted net income attributable to PepsiCo per common share $ 1.40 $ 3.06 (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)	3 Months Ended
	Mar. 25, 2023
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	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 Other Accumulated Other Comprehensive Loss Attributable to PepsiCo 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) (a) Pension and retiree medical amounts are net of taxes of $1,184 million as of both December 31, 2022 and March 25, 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. Currency Translation Adjustment Cash Flow Hedges Pension and Retiree Medical Other Accumulated Other Comprehensive Loss Attributable to PepsiCo Balance as of December 25, 2021 (a) $ (12,309) $ 159 $ (2,750) $ 2 $ (14,898) Other comprehensive (loss)/income before reclassifications (b) (549) 200 (8) — (357) Amounts reclassified from accumulated other comprehensive loss — (62) 25 — (37) Net other comprehensive (loss)/income (549) 138 17 — (394) Tax amounts (11) (32) (4) (4) (51) Balance as of March 19, 2022 (a) $ (12,869) $ 265 $ (2,737) $ (2) $ (15,343) (a) Pension and retiree medical amounts are net of taxes of $1,283 million as of December 25, 2021 and $1,279 million as of March 19, 2022. (b) Currency translation adjustment primarily reflects depreciation of the Russian ruble, partially offset by the appreciation of the South African rand, Brazilian real and Canadian dollar.
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 3/25/2023 3/19/2022 Affected Line Item in the Income Statement Currency translation: Divestitures $ 108 $ — Selling, general and administrative expenses Cash flow hedges: Foreign exchange contracts $ (2) $ (2) Net revenue Foreign exchange contracts 3 (2) Cost of sales Interest rate derivatives 3 20 Selling, general and administrative expenses Commodity contracts 10 (76) Cost of sales Commodity contracts (1) (2) Selling, general and administrative expenses Net losses/(gains) before tax 13 (62) Tax amounts (4) 10 Net losses/(gains) after tax $ 9 $ (52) Pension and retiree medical items: Amortization of prior service credits $ (7) $ (8) Other pension and retiree medical benefits income Amortization of net losses 12 35 Other pension and retiree medical benefits income Settlement/curtailment gains — (2) Other pension and retiree medical benefits income Net losses before tax 5 25 Tax amounts (1) (6) Net losses after tax $ 4 $ 19 Total net losses/(gains) reclassified, net of tax $ 121 $ (33)

Acquisitions & Divestitures (Ta

Acquisitions & Divestitures (Tables)	3 Months Ended
	Mar. 25, 2023
Acquisitions & Divestitures [Abstract]
Summary of Acquisition and Divestiture-Related Charges	A summary of our acquisition and divestiture-related charges is as follows: 12 Weeks Ended 3/25/2023 3/19/2022 PBNA $ 2 $ 37 Europe — 10 Corporate — 3 Total (a) 2 50 Other pension and retiree medical benefits expense — 6 Total acquisition and divestiture-related charges $ 2 $ 56 After-tax amount $ 1 $ 47 Impact on net income attributable to PepsiCo per common share $ — $ (0.03) (a) Recorded in selling, general and administrative expenses.

Basis of Presentation and Our_4

Basis of Presentation and Our Divisions (Narrative) (Details) $ / shares in Units, $ in Millions	3 Months Ended		12 Months Ended
	Mar. 25, 2023 segment	Mar. 19, 2022 USD ($) $ / shares	Dec. 31, 2022 $ / shares
Basis Of Presentation And Our Divisions [Line Items]
Number of Reportable Segments | segment	7
Disaggregation of Net Revenue - Beverages	40%	40%
Disaggregation of Net Revenue - Convenient Food	60%	60%
Gain associated with the Juice Transaction, after-tax		$ 2,870
Gain associated with the Juice Transaction, - per share amount | $ / shares		$ (2.06)	$ (2.08)
Impairment of Intangible Assets (Excluding Goodwill) - Pretax		$ 241
Impairment of Intangible assets, indefinite-lived (excluding goodwill) - after-tax		$ 193
LatAm
Basis Of Presentation And Our Divisions [Line Items]
Disaggregation of Net Revenue - Beverages	10%	10%
Disaggregation of Net Revenue - Convenient Food	90%	90%
Europe
Basis Of Presentation And Our Divisions [Line Items]
Disaggregation of Net Revenue - Beverages	45%	50%
Disaggregation of Net Revenue - Convenient Food	55%	50%
AMESA
Basis Of Presentation And Our Divisions [Line Items]
Disaggregation of Net Revenue - Beverages	30%	30%
Disaggregation of Net Revenue - Convenient Food	70%	70%
APAC
Basis Of Presentation And Our Divisions [Line Items]
Disaggregation of Net Revenue - Beverages	15%	15%
Disaggregation of Net Revenue - Convenient Food	85%	85%
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
	Mar. 25, 2023	Mar. 19, 2022
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Revenue	$ 17,846	$ 16,200
FLNA
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Revenue	5,583	4,839
QFNA
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Revenue	777	713
PBNA
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Revenue	5,798	5,353
LatAm
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Revenue	1,777	1,474
Europe
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Revenue	1,886	1,797
AMESA
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Revenue	1,019	1,004
APAC
Segment Reporting, Revenue Reconciling Item [Line Items]
Net Revenue	$ 1,006	$ 1,020

Basis of Presentation and Our_6

Basis of Presentation and Our Divisions - Segment Reporting Information by % of Disaggregated Net Revenue (Details)	3 Months Ended
	Mar. 25, 2023	Mar. 19, 2022
Disaggregation of Revenue [Line Items]
Disaggregation of Net Revenue - Beverages	40%	40%
Disaggregation of Net Revenue - Convenient Food	60%	60%
Disaggregation of beverage revenue from company-owned bottlers	35%
LatAm
Disaggregation of Revenue [Line Items]
Disaggregation of Net Revenue - Beverages	10%	10%
Disaggregation of Net Revenue - Convenient Food	90%	90%
Europe
Disaggregation of Revenue [Line Items]
Disaggregation of Net Revenue - Beverages	45%	50%
Disaggregation of Net Revenue - Convenient Food	55%	50%
AMESA
Disaggregation of Revenue [Line Items]
Disaggregation of Net Revenue - Beverages	30%	30%
Disaggregation of Net Revenue - Convenient Food	70%	70%
APAC
Disaggregation of Revenue [Line Items]
Disaggregation of Net Revenue - Beverages	15%	15%
Disaggregation of Net Revenue - Convenient Food	85%	85%

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		12 Months Ended
	Mar. 25, 2023	Mar. 19, 2022	Dec. 31, 2022
Segment Reporting Information [Line Items]
Operating Profit	$ 2,629	$ 5,267
Gain associated with the Juice Transaction	0	(3,322)
Gain associated with the Juice Transaction, after-tax		$ 2,870
Gain associated with the Juice Transaction, - per share amount		$ 2.06	$ 2.08
Impairment of Intangible assets, indefinite-lived (excluding goodwill) - after-tax		$ 193
Impairment of Intangible assets, indefinite-lived (excluding goodwill) - per share amount		$ 0.14
Impairment of Intangible Assets (Excluding Goodwill) - Pretax		$ 241
Impairment of Intangible Assets (Excluding Goodwill) Russia-Ukraine Conflict		241
Impairment of Intangible assets (excluding Goodwill) Russia-Ukraine Conflict - after tax		$ 241
Impairment of Intangible Assets (excluding Goodwill) Russia-Ukraine Conflict - per share amount		$ 0.17
Cost of sales
Segment Reporting Information [Line Items]
Impairment of Intangible Assets (Excluding Goodwill) Russia-Ukraine Conflict		$ 140
Selling, general and administrative expenses
Segment Reporting Information [Line Items]
Impairment of Intangible Assets (Excluding Goodwill) Russia-Ukraine Conflict		100
Impairment of Intangible Assets
Segment Reporting Information [Line Items]
Impairment of Intangible Assets (Excluding Goodwill) Russia-Ukraine Conflict		1
Operating Segments
Segment Reporting Information [Line Items]
Operating Profit	3,100	5,471
Corporate
Segment Reporting Information [Line Items]
Operating Profit	(471)	(204)
FLNA
Segment Reporting Information [Line Items]
Operating Profit	1,599	1,296
QFNA
Segment Reporting Information [Line Items]
Operating Profit	188	159
PBNA
Segment Reporting Information [Line Items]
Operating Profit	483	3,434
Gain associated with the Juice Transaction		(3,024)
LatAm
Segment Reporting Information [Line Items]
Operating Profit	364	323
Europe
Segment Reporting Information [Line Items]
Operating Profit	71	(136)
Gain associated with the Juice Transaction		(298)
AMESA
Segment Reporting Information [Line Items]
Operating Profit	168	180
APAC
Segment Reporting Information [Line Items]
Operating Profit	$ 227	$ 215

Restructuring and Impairment _3

Restructuring and Impairment Charges - (Expected Pre-Tax Charges for 2019 Productivity Plan) (Details) - 2019 Productivity Plan $ in Millions	Mar. 25, 2023 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	15%
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	25%
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
	Mar. 25, 2023	Mar. 19, 2022
Restructuring Cost and Reserve [Line Items]
Cash payments	$ (64)	$ (32)
2019 Productivity Plan
Restructuring Cost and Reserve [Line Items]
Liability as of December 31, 2022	196
2023 restructuring charges	112	$ 27
Cash payments	(64)
Non-cash charges and translation	(4)
Liability as of March 25, 2023	$ 240
Impact on net income attributable to PepsiCo per common share	$ (0.07)	$ (0.02)
Restructuring and Related Cost, Cost Incurred to Date	$ 1,567
2019 Productivity Plan | FLNA
Restructuring Cost and Reserve [Line Items]
2023 restructuring charges	7	$ 3
Restructuring and Related Cost, Cost Incurred to Date	217
2019 Productivity Plan | QFNA
Restructuring Cost and Reserve [Line Items]
2023 restructuring charges	0	0
Restructuring and Related Cost, Cost Incurred to Date	19
2019 Productivity Plan | PBNA
Restructuring Cost and Reserve [Line Items]
2023 restructuring charges	5	3
Restructuring and Related Cost, Cost Incurred to Date	231
2019 Productivity Plan | AMESA
Restructuring Cost and Reserve [Line Items]
2023 restructuring charges	5	2
Restructuring and Related Cost, Cost Incurred to Date	87
2019 Productivity Plan | APAC
Restructuring Cost and Reserve [Line Items]
2023 restructuring charges	1	1
Restructuring and Related Cost, Cost Incurred to Date	78
2019 Productivity Plan | LatAm
Restructuring Cost and Reserve [Line Items]
2023 restructuring charges	5	6
Restructuring and Related Cost, Cost Incurred to Date	176
2019 Productivity Plan | Europe
Restructuring Cost and Reserve [Line Items]
2023 restructuring charges	89	7
Restructuring and Related Cost, Cost Incurred to Date	432
Other than 2019 Productivity Plan
Restructuring Cost and Reserve [Line Items]
2023 restructuring charges	0
Corporate | 2019 Productivity Plan
Restructuring Cost and Reserve [Line Items]
2023 restructuring charges	1	5
Restructuring and Related Cost, Cost Incurred to Date	230
Severance and Other Employee Costs | 2019 Productivity Plan
Restructuring Cost and Reserve [Line Items]
Liability as of December 31, 2022	188
2023 restructuring charges	92	11
Cash payments	(44)
Non-cash charges and translation	(4)
Liability as of March 25, 2023	232
Restructuring and Related Cost, Cost Incurred to Date	899
[Asset Impairments] | 2019 Productivity Plan
Restructuring Cost and Reserve [Line Items]
2023 restructuring charges	0	0
Restructuring and Related Cost, Cost Incurred to Date	190
Other Costs | 2019 Productivity Plan
Restructuring Cost and Reserve [Line Items]
Liability as of December 31, 2022	8
2023 restructuring charges	20	16
Cash payments	(20)
Non-cash charges and translation	0
Liability as of March 25, 2023	8
Restructuring and Related Cost, Cost Incurred to Date	478
Cost of sales | 2019 Productivity Plan
Restructuring Cost and Reserve [Line Items]
2023 restructuring charges	3	5
Selling, general and administrative expenses | 2019 Productivity Plan
Restructuring Cost and Reserve [Line Items]
2023 restructuring charges	110	22
Other pension and retiree medical benefits income (a) | 2019 Productivity Plan
Restructuring Cost and Reserve [Line Items]
2023 restructuring charges	(1)	0
Restructuring and Related Cost, Cost Incurred to Date	97
Restructuring, Settlement and Impairment Provisions, less Other pension and retiree medical benefits expense | 2019 Productivity Plan
Restructuring Cost and Reserve [Line Items]
2023 restructuring charges	113	27
Restructuring and Related Cost, Cost Incurred to Date	1,470
After-tax amount | 2019 Productivity Plan
Restructuring Cost and Reserve [Line Items]
2023 restructuring charges	$ 98	$ 21

Intangible Assets - Impairment

Intangible Assets - Impairment of Intangible Assets (Details) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 19, 2022 USD ($) $ / shares
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment of Intangible Assets (Excluding Goodwill) - Pretax	$ 241
Impairment of Intangible assets, indefinite-lived (excluding goodwill) - after-tax	$ 193
Impairment of Intangible assets, indefinite-lived (excluding goodwill) - per share amount | $ / shares	$ 0.14

Intangible Assets - Schedule of

Intangible Assets - Schedule of Finite-Lived Intangible Assets (Detail) - USD ($) $ in Millions	Mar. 25, 2023	Dec. 31, 2022
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	$ 2,926	$ 2,952
Accumulated Amortization	(1,676)	(1,675)
Amortizable Intangible Assets, net	1,250	1,277
Acquired Franchise Rights
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	833	837
Accumulated Amortization	(202)	(200)
Amortizable Intangible Assets, net	631	637
Reacquired Franchise Rights
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	563	571
Accumulated Amortization	(240)	(237)
Amortizable Intangible Assets, net	323	334
Brands
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	1,085	1,097
Accumulated Amortization	(969)	(973)
Amortizable Intangible Assets, net	116	124
Other identifiable intangibles
Acquired Finite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Gross	445	447
Accumulated Amortization	(265)	(265)
Amortizable Intangible Assets, net	$ 180	$ 182

Intangible Assets - Schedule _2

Intangible Assets - Schedule of Change in Book Value of Indefinite-Lived Intangible Assets (Detail) $ in Millions	3 Months Ended
	Mar. 25, 2023 USD ($)
Indefinite-lived Intangible Assets [Line Items]
Balance 12/31/2022	$ 32,511
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(149)
Balance 3/25/2023	32,362
FLNA
Indefinite-lived Intangible Assets [Line Items]
Balance 12/31/2022	702
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(2)
Balance 3/25/2023	700
QFNA
Indefinite-lived Intangible Assets [Line Items]
Balance 12/31/2022	189
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	0
Balance 3/25/2023	189
PBNA
Indefinite-lived Intangible Assets [Line Items]
Balance 12/31/2022	23,274
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(20)
Balance 3/25/2023	23,254
AMESA
Indefinite-lived Intangible Assets [Line Items]
Balance 12/31/2022	1,171
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(65)
Balance 3/25/2023	1,106
APAC
Indefinite-lived Intangible Assets [Line Items]
Balance 12/31/2022	785
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(5)
Balance 3/25/2023	780
LatAm
Indefinite-lived Intangible Assets [Line Items]
Balance 12/31/2022	511
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	9
Balance 3/25/2023	520
Europe
Indefinite-lived Intangible Assets [Line Items]
Balance 12/31/2022	5,879
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(66)
Balance 3/25/2023	5,813
Goodwill
Indefinite-lived Intangible Assets [Line Items]
Balance 12/31/2022	18,202
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(113)
Balance 3/25/2023	18,089
Goodwill | FLNA
Indefinite-lived Intangible Assets [Line Items]
Balance 12/31/2022	451
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(2)
Balance 3/25/2023	449
Goodwill | QFNA
Indefinite-lived Intangible Assets [Line Items]
Balance 12/31/2022	189
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	0
Balance 3/25/2023	189
Goodwill | PBNA
Indefinite-lived Intangible Assets [Line Items]
Balance 12/31/2022	11,947
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(7)
Balance 3/25/2023	11,940
Goodwill | AMESA
Indefinite-lived Intangible Assets [Line Items]
Balance 12/31/2022	1,015
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(52)
Balance 3/25/2023	963
Goodwill | APAC
Indefinite-lived Intangible Assets [Line Items]
Balance 12/31/2022	518
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(3)
Balance 3/25/2023	515
Goodwill | LatAm
Indefinite-lived Intangible Assets [Line Items]
Balance 12/31/2022	436
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	7
Balance 3/25/2023	443
Goodwill | Europe
Indefinite-lived Intangible Assets [Line Items]
Balance 12/31/2022	3,646
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(56)
Balance 3/25/2023	3,590
Brands
Indefinite-lived Intangible Assets [Line Items]
Balance 12/31/2022	4,921
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(13)
Balance 3/25/2023	4,908
Brands | FLNA
Indefinite-lived Intangible Assets [Line Items]
Balance 12/31/2022	251
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	0
Balance 3/25/2023	251
Brands | PBNA
Indefinite-lived Intangible Assets [Line Items]
Balance 12/31/2022	2,508
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	1
Balance 3/25/2023	2,509
Brands | AMESA
Indefinite-lived Intangible Assets [Line Items]
Balance 12/31/2022	156
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(13)
Balance 3/25/2023	143
Brands | APAC
Indefinite-lived Intangible Assets [Line Items]
Balance 12/31/2022	267
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(2)
Balance 3/25/2023	265
Brands | LatAm
Indefinite-lived Intangible Assets [Line Items]
Balance 12/31/2022	75
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	2
Balance 3/25/2023	77
Brands | Europe
Indefinite-lived Intangible Assets [Line Items]
Balance 12/31/2022	1,664
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(1)
Balance 3/25/2023	1,663
Reacquired franchise rights
Indefinite-lived Intangible Assets [Line Items]
Balance 12/31/2022	7,482
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(20)
Balance 3/25/2023	7,462
Reacquired franchise rights | PBNA
Indefinite-lived Intangible Assets [Line Items]
Balance 12/31/2022	7,061
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(12)
Balance 3/25/2023	7,049
Reacquired franchise rights | Europe
Indefinite-lived Intangible Assets [Line Items]
Balance 12/31/2022	421
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(8)
Balance 3/25/2023	413
Acquired franchise rights
Indefinite-lived Intangible Assets [Line Items]
Balance 12/31/2022	1,906
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(3)
Balance 3/25/2023	1,903
Acquired franchise rights | PBNA
Indefinite-lived Intangible Assets [Line Items]
Balance 12/31/2022	1,758
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(2)
Balance 3/25/2023	1,756
Acquired franchise rights | Europe
Indefinite-lived Intangible Assets [Line Items]
Balance 12/31/2022	148
Indefinite-lived Intangible Assets [Roll Forward]
Translation and Other	(1)
Balance 3/25/2023	$ 147

Share-Based Compensation - Weig

Share-Based Compensation - Weighted Average Black Scholes Fair Value Assumptions (Detail)	3 Months Ended
	Mar. 25, 2023	Mar. 19, 2022
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%	1.70%
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	2.70%	2.50%

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 25, 2023	Mar. 19, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Recognized stock-based compensation expense	$ 93	$ 81
Compensation cost for share-based liabilities	6	5
Share-based Payment Arrangement, Expensed and Capitalized, Amount	100	88
Share based liability awards granted, target	19	18
Share-based Compensation
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Acquisition and divestiture-related charges	0	3
Share-based Compensation
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restructuring and impairment charges	$ 1	$ (1)
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	2	2.1
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Price	$ 171	$ 163
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	2.1	2.3
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other Than Options, Grants in Period, Weighted Average Grant Price	$ 171	$ 163

Pension and Retiree Medical B_3

Pension and Retiree Medical Benefits - Net Periodic Benefit Cost (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 25, 2023	Mar. 19, 2022
Domestic Plan
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Service Cost	$ 76	$ 114
Defined Benefit Plan, Interest Cost	137	88
Defined Benefit Plan, Expected Return (Loss) on Plan Assets	(197)	(215)
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	(6)	(6)
Defined Benefit Plan, Amortization of Gain (Loss)	16	33
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), (Gain) Loss Due to Settlement	0
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), (Gain) Loss Due to Curtailment		0
Defined Benefit Plan, Benefit Obligation, Special and Contractual Termination Benefits	(1)
Defined Benefit Plan, Cost of Providing Special and Contractual Termination Benefits		6
Defined Benefit Plan, Other Cost (Credit)	(51)	(94)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Total	25	20
Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Service Cost	8	17
Defined Benefit Plan, Interest Cost	25	17
Defined Benefit Plan, Expected Return (Loss) on Plan Assets	(35)	(42)
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	0	0
Defined Benefit Plan, Amortization of Gain (Loss)	2	5
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
Defined Benefit Plan, Other Cost (Credit)	(8)	(20)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Total		(3)
Retiree Medical Plan
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Service Cost	6	8
Defined Benefit Plan, Interest Cost	8	4
Defined Benefit Plan, Expected Return (Loss) on Plan Assets	(3)	(3)
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)	(1)	(2)
Defined Benefit Plan, Amortization of Gain (Loss)	(6)	(3)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), (Gain) Loss Due to Curtailment	0	(16)
Defined Benefit Plan, Cost of Providing Special and Contractual Termination Benefits	0	0
Defined Benefit Plan, Other Cost (Credit)	(2)	(20)
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Total	$ 4	$ (12)

Pension and Retiree Medical B_4

Pension and Retiree Medical Benefits - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 25, 2023	Mar. 19, 2022	Sep. 09, 2023
Domestic Plan
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Contributions by Employer	$ 125	$ 75
Defined Benefit Plan, Net Periodic Benefit Cost (Credit), (Gain) Loss Due to Settlement	0
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	25	20
Domestic Plan | Forecast
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Expected Future Employer Contributions, Remainder of Fiscal Year			$ 125
Foreign Plan
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Plan Assets, Contributions by Employer	$ 17	10
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)		$ (3)

Debt Obligations - Summary of S

Debt Obligations - Summary of Senior Notes (Detail) $ in Millions	Mar. 25, 2023 USD ($)
Notes Due 2028 | Four Point Four Five Percent Notes due 2028
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.45%
Debt Instrument, Face Amount	$ 650
Notes Due 2026 | Four Point Five Five Percent Notes due 2026
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.55%
Debt Instrument, Face Amount	$ 500
Notes Due 2026 | Floating Rate Percent Notes due 2026
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 350
Notes Due 2033 | Four Point Four Five Percent Notes due 2033
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.45%
Debt Instrument, Face Amount	$ 1,000
Notes Due 2053 | Four Point Six Five Percent Notes due 2053
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.65%
Debt Instrument, Face Amount	$ 500

Debt Obligations - (Narrative)

Debt Obligations - (Narrative) (Details) $ in Millions	Mar. 25, 2023 USD ($)
Debt Instrument [Line Items]
Long-term Debt, Current Maturities	$ 1,300
Commercial Paper	800
Multi Tranche Notes Due 2023-2026 | Defeasance of Long Term Debt
Debt Instrument [Line Items]
Debt Instrument, Face Amount	94
Debt Instrument, Repurchase Amount	$ 102

Financial Instruments - Additio

Financial Instruments - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 25, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Derivative, Net Liability Position, Aggregate Fair Value	$ 228,000,000
Additional Collateral, Aggregate Fair Value	0
Debt Securities, Available-for-Sale, Unrealized Gain (Loss)	0
Impairment Losses, Investments, Available-for-Sale Securities	0
Debt Instrument, Fair Value Disclosure	39,000,000,000	$ 35,000,000,000
Cash Flow Hedge Gain/(Loss) to be Reclassified within Twelve Months	(119,000,000)
Collateral Already Posted, Aggregate Fair Value	$ 0
Interest Rate Contract
Derivatives, Fair Value [Line Items]
Total Debt, Percentage Bearing Variable Interest, Percentage Rate	4%	1%

Financial Instruments - Notiona

Financial Instruments - Notional Amounts of Financial Instruments (Detail) - USD ($) $ in Billions	Mar. 25, 2023	Dec. 31, 2022
Net Investment Hedging [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	$ 2.9	$ 2.9
Commodity Contract [Member]
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	1.8	1.8
Foreign Exchange Contract
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	2.8	3
Interest Rate Contract
Derivatives, Fair Value [Line Items]
Derivative, Notional Amount	$ 1.3	$ 1.3

Financial Instruments - Fair Va

Financial Instruments - Fair Values of Financial Assets and Liabilities (Detail) - USD ($) $ in Millions	Mar. 25, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Short-term Investments	$ 434	$ 394
Derivative Liability, Subject to Master Netting Arrangement, before Offset	321	318
Derivative Asset, Subject to Master Netting Arrangement, before Offset	51	58
Total Financial Assets At Fair Value	973	989
Total Financial Liabilities At Fair Value	753	752
Derivatives Designated As Cash Flow Hedging Instruments Assets
Derivatives, Fair Value [Line Items]
Cash Flow Hedge Derivative Instrument Assets at Fair Value	25	26
Derivatives Designated As Cash Flow Hedging Instruments Liabilities
Derivatives, Fair Value [Line Items]
Cash Flow Hedge Derivative Instrument Liabilities at Fair Value	259	246
Derivatives Not Designated As Hedging Instruments Assets
Derivatives, Fair Value [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Asset, at Fair Value	26	32
Derivatives Not Designated As Hedging Instruments Liabilities
Derivatives, Fair Value [Line Items]
Other Derivatives Not Designated as Hedging Instruments Liabilities at Fair Value	62	72
Fair Value, Inputs, Level 2 | Derivatives Designated As Cash Flow Hedging Instruments Assets
Derivatives, Fair Value [Line Items]
Foreign Currency Cash Flow Hedge Asset at Fair Value	23	24
Interest Rate Cash Flow Hedge Asset at Fair Value	0	0
Price Risk Cash Flow Hedge Asset, at Fair Value	2	2
Fair Value, Inputs, Level 2 | Derivatives Designated As Cash Flow Hedging Instruments Liabilities
Derivatives, Fair Value [Line Items]
Foreign Currency Cash Flow Hedge Liability at Fair Value	34	22
Interest Rate Cash Flow Hedge Liability at Fair Value	175	164
Price Risk Cash Flow Hedge Liability, at Fair Value	50	60
Fair Value, Inputs, Level 2 | Derivatives Not Designated As Hedging Instruments Assets
Derivatives, Fair Value [Line Items]
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Asset at Fair Value	17	21
Price Risk Derivative Instruments Not Designated as Hedging Instruments Asset, at Fair Value	9	11
Fair Value, Inputs, Level 2 | Derivatives Not Designated As Hedging Instruments Liabilities
Derivatives, Fair Value [Line Items]
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments, Liability at Fair Value	17	21
Price Risk Derivative Instruments Not Designated as Hedging Instruments Liability, at Fair Value	45	51
Fair Value, Inputs, Level 2 | Assets
Derivatives, Fair Value [Line Items]
Debt Securities, Available-for-Sale	658	660
Prepaid Forward Asset Fair Value	14	14
Deferred Compensation Liability, Current and Noncurrent	0	0
Fair Value, Inputs, Level 2 | Liability
Derivatives, Fair Value [Line Items]
Debt Securities, Available-for-Sale	0	0
Prepaid Forward Asset Fair Value	0	0
Deferred Compensation Liability, Current and Noncurrent	432	434
Fair Value, Inputs, Level 2 | Short-Term Investments
Derivatives, Fair Value [Line Items]
Debt Securities, Available-for-Sale	99	104
Fair Value, Inputs, Level 2 | Other Assets
Derivatives, Fair Value [Line Items]
Debt Securities, Available-for-Sale	559	553
Fair Value, Inputs, Level 2 | Cash Equivalents
Derivatives, Fair Value [Line Items]
Debt Securities, Available-for-Sale		3
Fair Value, Inputs, Level 1 | Assets
Derivatives, Fair Value [Line Items]
Short-term Investments	250	257
Fair Value, Inputs, Level 1 | Liability
Derivatives, Fair Value [Line Items]
Short-term Investments	$ 0	$ 0

Financial Instruments - Losses

Financial Instruments - Losses (Gains) On Derivative Instruments - Cash-flow and Net Investment Hedges (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 25, 2023	Mar. 19, 2022
Derivative Instruments, Loss (Gain) [Line Items]
Other Comprehensive Loss (Income), Cash Flow Hedge, Loss (Gain), before Reclassification and Tax	$ 92	$ (200)
Cash Flow Hedging [Member]
Derivative Instruments, Loss (Gain) [Line Items]
Other Comprehensive Loss (Income), Cash Flow Hedge, Loss (Gain), before Reclassification and Tax	129	(251)
Derivative Instruments, Loss (Gain) Reclassified from Accumulated OCI into Income, Effective Portion, Net	13	(62)
Foreign exchange | Cash Flow Hedging [Member]
Derivative Instruments, Loss (Gain) [Line Items]
Other Comprehensive Loss (Income), Cash Flow Hedge, Loss (Gain), before Reclassification and Tax	16	(8)
Derivative Instruments, Loss (Gain) Reclassified from Accumulated OCI into Income, Effective Portion, Net	1	(4)
Commodity Contract [Member] | Cash Flow Hedging [Member]
Derivative Instruments, Loss (Gain) [Line Items]
Other Comprehensive Loss (Income), Cash Flow Hedge, Loss (Gain), before Reclassification and Tax	65	(189)
Derivative Instruments, Loss (Gain) Reclassified from Accumulated OCI into Income, Effective Portion, Net	9	(78)
Net Investment Hedging [Member] | Cash Flow Hedging [Member]
Derivative Instruments, Loss (Gain) [Line Items]
Other Comprehensive Loss (Income), Cash Flow Hedge, Loss (Gain), before Reclassification and Tax	37	(51)
Derivative Instruments, Loss (Gain) Reclassified from Accumulated OCI into Income, Effective Portion, Net	0	0
Interest Rate Contract | Cash Flow Hedging [Member]
Derivative Instruments, Loss (Gain) [Line Items]
Other Comprehensive Loss (Income), Cash Flow Hedge, Loss (Gain), before Reclassification and Tax	11	(3)
Derivative Instruments, Loss (Gain) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ 3	$ 20

Financial Instruments - Losse_2

Financial Instruments - Losses (Gains) Recognized in the Income Statement - Non-designated Hedges (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 25, 2023	Mar. 19, 2022
Losses/(Gains) Recognized in Income Statement
Derivative Instruments, Loss (Gain) [Line Items]
Loss (Gain) on Derivative Instruments, Net, Pretax	$ 75	$ (182)
Fair Value Nondesignated Hedges - Cost of Sales
Derivative Instruments, Loss (Gain) [Line Items]
Loss (Gain) on Derivative Instruments, Net, Pretax	30	(63)
Fair Value Nondesignated Hedges - Selling, General and Administrative Expenses
Derivative Instruments, Loss (Gain) [Line Items]
Loss (Gain) on Derivative Instruments, Net, Pretax	45	(119)
Foreign Exchange Contract Losses/(Gains) Included in Cost of Sales | Losses/(Gains) Recognized in Income Statement
Derivative Instruments, Loss (Gain) [Line Items]
Loss (Gain) on Derivative Instruments, Net, Pretax	(1)	11
Foreign Exchange Contract Losses/(Gains) Included in Selling, General and Administrative Expenses | Losses/(Gains) Recognized in Income Statement
Derivative Instruments, Loss (Gain) [Line Items]
Loss (Gain) on Derivative Instruments, Net, Pretax	(5)	(27)
Foreign exchange | Losses/(Gains) Recognized in Income Statement
Derivative Instruments, Loss (Gain) [Line Items]
Loss (Gain) on Derivative Instruments, Net, Pretax	(6)	(16)
Commodity Contract Losses/(Gains) Included in Cost of Sales | Losses/(Gains) Recognized in Income Statement
Derivative Instruments, Loss (Gain) [Line Items]
Loss (Gain) on Derivative Instruments, Net, Pretax	31	(74)
Commodity Contract Losses/(Gains) Included in Selling, General and Administrative Expenses | Losses/(Gains) Recognized in Income Statement
Derivative Instruments, Loss (Gain) [Line Items]
Loss (Gain) on Derivative Instruments, Net, Pretax	50	(92)
Commodity Contract [Member] | Losses/(Gains) Recognized in Income Statement
Derivative Instruments, Loss (Gain) [Line Items]
Loss (Gain) on Derivative Instruments, Net, Pretax	$ 81	$ (166)

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
	Mar. 25, 2023	Mar. 19, 2022
Earnings Per Share [Abstract]
Earnings Per Share, Basic (in USD per share)	$ 1.40	$ 3.08
Net Income (Loss) Available to Common Stockholders, Basic	$ 1,932	$ 4,261
Weighted Average Number of Shares Outstanding, Basic (in shares)	1,378	1,383
Dilutive Securities [Abstract]
Dilutive Securities, Effect on Basic Earnings Per Share, Options and Restrictive Stock Units	$ 0	$ 0
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	6	8
Net Income (Loss) Available to Common Stockholders, Diluted	$ 1,932	$ 4,261
Weighted Average Number of Shares Outstanding, Diluted	1,384	1,391
Earnings Per Share, Diluted (in USD per share)	$ 1.40	$ 3.06
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	3

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss Attributable to PepsiCo - Schedule of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 25, 2023	Mar. 19, 2022	Dec. 31, 2022	Dec. 25, 2021
Statement of Other Comprehensive Income [Abstract]
Beginning balance	$ (12,948)	$ (12,309)
Other comprehensive (loss)/income before reclassifications (b)	(350)	(549)
Amounts reclassified from accumulated other comprehensive loss	108	0
Net other comprehensive (loss)/income	(242)	(549)
Tax amounts	7	(11)
Ending balance	(13,183)	(12,869)
Beginning balance	1	159
Other comprehensive (loss)/income before reclassifications (b)	(92)	200
Amounts reclassified from accumulated other comprehensive loss	13	(62)
Net other comprehensive (loss)/income	(79)	138
Tax amounts	20	(32)
Ending balance	(58)	265
Beginning balance	2,361	2,750
Other comprehensive income/(loss) before reclassifications (c)	(9)	(8)
Amounts reclassified from accumulated other comprehensive loss	5	25
Net other comprehensive income/(loss)	(4)	17
Tax amounts	0	(4)
Ending balance	2,365	2,737
Beginning balance	6	2
Other comprehensive (loss)/income before reclassifications (d)	(1)	0
Amounts reclassified from accumulated other comprehensive loss	0	0
Net other comprehensive (loss)/income	(1)	0
Tax amounts	0	(4)
Ending balance	5	(2)
OCI, before Reclassifications, before Tax, Attributable to Parent	(452)	(357)
Reclassification from AOCI, Current Period, before Tax, Attributable to Parent	126	(37)
Other Comprehensive Income (Loss), before Tax, Portion Attributable to Parent	(326)	(394)
Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent	27	(51)
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (15,601)	(15,343)	$ (15,302)	$ (14,898)
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	$ 1,184	$ 1,279	$ 1,184	$ 1,283

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss Attributable to PepsiCo - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 25, 2023	Mar. 19, 2022
Reclassification Adjustments out of Accumulated Other Comprehensive Income [Line Items]
Amounts reclassified from accumulated other comprehensive loss	$ 108	$ 0
Cash flow hedges:
Amounts reclassified from accumulated other comprehensive loss	13	(62)
Tax amounts	(4)	10
Net losses/(gains) after tax	9	(52)
Pension and retiree medical items:
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax	(7)	(8)
Amortization of net losses	12	35
Settlement/curtailment gains	0	(2)
Other Comprehensive (Income) Loss, Defined Benefit Plan, Reclassification Adjustment from AOCI, before Tax	5	25
Tax amounts	(1)	(6)
Net losses after tax	4	19
Total net losses/(gains) reclassified, net of tax	121	(33)
Net other comprehensive (loss)/income	(79)	138
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), Reclassification, before Tax	(13)	62
Tax amounts	(4)	10
Net losses/(gains) after tax	9	(52)
Cash Flow Hedging [Member]
Cash flow hedges:
Losses/(gains) on cash flow hedges	13	(62)
Cash Flow Hedging [Member] | Foreign exchange
Cash flow hedges:
Losses/(gains) on cash flow hedges	1	(4)
Cash Flow Hedging [Member] | Foreign exchange | Revenue, Net
Cash flow hedges:
Losses/(gains) on cash flow hedges	(2)	(2)
Cash Flow Hedging [Member] | Foreign exchange | Cost of sales
Cash flow hedges:
Losses/(gains) on cash flow hedges	3	(2)
Cash Flow Hedging [Member] | Interest Rate Contract
Cash flow hedges:
Losses/(gains) on cash flow hedges	3	20
Cash Flow Hedging [Member] | Commodity contracts
Cash flow hedges:
Losses/(gains) on cash flow hedges	9	(78)
Cash Flow Hedging [Member] | Commodity contracts | Cost of sales
Cash flow hedges:
Losses/(gains) on cash flow hedges	10	(76)
Cash Flow Hedging [Member] | Commodity contracts | Selling, general and administrative expenses
Cash flow hedges:
Losses/(gains) on cash flow hedges	$ (1)	$ (2)

Acquisitions & Divestitures - S

Acquisitions & Divestitures - Summary of Income Statement (Juice Transaction) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	12 Months Ended
	Mar. 19, 2022	Dec. 31, 2022	Jan. 24, 2022
Acquisitions & Divestitures [Line Items]
Disposal Group, Including Discontinued Operation, Consideration			$ 3,500
Equity Method Investment, Difference Between Carrying Amount and Underlying Equity		$ 520
Gain associated with the Juice Transaction, - per share amount	$ 2.06	$ 2.08
Gain Associated with the Juice Transaction, pre-tax	$ 3,300	$ 3,300
Gain Associated with the Juice Transaction, after-tax	$ 2,900	$ 2,900
Tropicana JV
Acquisitions & Divestitures [Line Items]
Equity Method Investment, Ownership Percentage	39%

Acquisitions & Divestiture - Su

Acquisitions & Divestiture - Summary of Acquisition and Divestiture-Related Charges (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 25, 2023	Mar. 19, 2022
Acquisitions & Divestitures [Line Items]
Acquisition and divestiture-related charges	$ 2	$ 56
Acquisition and divestiture-related charges, after-tax	$ 1	$ 47
Acquisition and divestiture-related charges, Per​Share​	$ 0	$ (0.03)
PBNA
Acquisitions & Divestitures [Line Items]
Acquisition and divestiture-related charges	$ 2	$ 37
Europe
Acquisitions & Divestitures [Line Items]
Acquisition and divestiture-related charges	0	10
Corporate Segment
Acquisitions & Divestitures [Line Items]
Acquisition and divestiture-related charges	0	3
Selling, general and administrative expenses
Acquisitions & Divestitures [Line Items]
Acquisition and divestiture-related charges	2	50
Other pension and retiree medical benefits expense
Acquisitions & Divestitures [Line Items]
Acquisition and divestiture-related charges	$ 0	$ 6

Supply Chain Financing (Details

Supply Chain Financing (Details) - USD ($) $ in Billions	Mar. 25, 2023	Dec. 31, 2022
Text Block [Abstract]
Utilization under Supply Chain Financing Programs	$ 1.9	$ 1.7