百事公司Pepsico, Inc.（PEP）2025年年度报告「NYSE」（英文版）（144页）.pdf

1、Annual R eport 2025Annual Report 20252025 FINANCIAL HIGHLIGHTSPepsiCo,Inc.&Consolidated Subsidiaries(in millions,except per share data all per share amounts assume dilution)Summary of Operations Net revenueCore operating profit1Reported earnings per shareCore earnings per share3Free cash flow4Capita

2、l spendingCommon share repurchasesDividends paid$93,925$14,912$6.00$8.14$8,200$4,415$1,000$7,638$91,854$14,698$6.95$8.16$7,531$5,318$1,000$7,229202520242%1.5%(14)%9%(17)%6%Change21.Excludes the mark-to-market net impact of our commodity derivatives,restructuring and impairment charges,acquisition an

3、d divestiture-related charges,impairment and other charges,as well as additional expenses related to an indirect tax audit settlement in our Latin America Foods segment in 2025 and an indirect tax reserve in our International Beverages Franchise segment in 2024.In 2025,also excludes pre-tax income i

4、n our PepsiCo Beverages North America segment associated with pension-related liabilities from previous acquisitions.In 2024,also excludes property,plant and equipment write-offs,employee severance costs and other costs associated with the voluntary recall of certain bars and cereals in our PepsiCo

5、Foods North America segment(Quaker Recall).See page 129“Reconciliation of GAAP and Non-GAAP Information”for a reconciliation to the most directly comparable financial measure in accordance with U.S.Generally Accepted Accounting Principles(GAAP).On a reported basis,the segment operating profit percen

6、tages in 2025 were:PepsiCo Foods North America 46%;PepsiCo Beverages North America 8%;International Beverages Franchise 13%;Europe,Middle East and Africa 15%;Latin America Foods 15%;and Asia Pacific Foods 3%.2025 and 2024 reported operating profit was$11,498 and$12,887,respectively,reflecting a decr