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In preparation for close of the separation and distribution, on April 7, 2022, Spinco drew $ 10,000 on its $ 10,000 term loan credit agreement (Spinco Term Loan), which conveyed to WBD. Total debt conveyed was approximately $ 41,600 , which included $ 1,600 of existing WarnerMedia debt, $ 30,000 of Spinco senior notes issued in March 2022 and the $ 10,000 Spinco Term Loan. WarnerMedia cash transfer to Discovery was approximately $ 2,660 . | text | 10000 | monetaryItemType | text: <entity> 10000 </entity> <entity type> monetaryItemType </entity type> <context> In preparation for close of the separation and distribution, on April 7, 2022, Spinco drew $ 10,000 on its $ 10,000 term loan credit agreement (Spinco Term Loan), which conveyed to WBD. Total debt conveyed was approximately $ 41,600 , which included $ 1,600 of existing WarnerMedia debt, $ 30,000 of Spinco senior notes issued in March 2022 and the $ 10,000 Spinco Term Loan. WarnerMedia cash transfer to Discovery was approximately $ 2,660 . </context> | us-gaap:LineOfCredit |
In preparation for close of the separation and distribution, on April 7, 2022, Spinco drew $ 10,000 on its $ 10,000 term loan credit agreement (Spinco Term Loan), which conveyed to WBD. Total debt conveyed was approximately $ 41,600 , which included $ 1,600 of existing WarnerMedia debt, $ 30,000 of Spinco senior notes issued in March 2022 and the $ 10,000 Spinco Term Loan. WarnerMedia cash transfer to Discovery was approximately $ 2,660 . | text | 10000 | monetaryItemType | text: <entity> 10000 </entity> <entity type> monetaryItemType </entity type> <context> In preparation for close of the separation and distribution, on April 7, 2022, Spinco drew $ 10,000 on its $ 10,000 term loan credit agreement (Spinco Term Loan), which conveyed to WBD. Total debt conveyed was approximately $ 41,600 , which included $ 1,600 of existing WarnerMedia debt, $ 30,000 of Spinco senior notes issued in March 2022 and the $ 10,000 Spinco Term Loan. WarnerMedia cash transfer to Discovery was approximately $ 2,660 . </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
In preparation for close of the separation and distribution, on April 7, 2022, Spinco drew $ 10,000 on its $ 10,000 term loan credit agreement (Spinco Term Loan), which conveyed to WBD. Total debt conveyed was approximately $ 41,600 , which included $ 1,600 of existing WarnerMedia debt, $ 30,000 of Spinco senior notes issued in March 2022 and the $ 10,000 Spinco Term Loan. WarnerMedia cash transfer to Discovery was approximately $ 2,660 . | text | 41600 | monetaryItemType | text: <entity> 41600 </entity> <entity type> monetaryItemType </entity type> <context> In preparation for close of the separation and distribution, on April 7, 2022, Spinco drew $ 10,000 on its $ 10,000 term loan credit agreement (Spinco Term Loan), which conveyed to WBD. Total debt conveyed was approximately $ 41,600 , which included $ 1,600 of existing WarnerMedia debt, $ 30,000 of Spinco senior notes issued in March 2022 and the $ 10,000 Spinco Term Loan. WarnerMedia cash transfer to Discovery was approximately $ 2,660 . </context> | us-gaap:LongTermDebt |
In preparation for close of the separation and distribution, on April 7, 2022, Spinco drew $ 10,000 on its $ 10,000 term loan credit agreement (Spinco Term Loan), which conveyed to WBD. Total debt conveyed was approximately $ 41,600 , which included $ 1,600 of existing WarnerMedia debt, $ 30,000 of Spinco senior notes issued in March 2022 and the $ 10,000 Spinco Term Loan. WarnerMedia cash transfer to Discovery was approximately $ 2,660 . | text | 30000 | monetaryItemType | text: <entity> 30000 </entity> <entity type> monetaryItemType </entity type> <context> In preparation for close of the separation and distribution, on April 7, 2022, Spinco drew $ 10,000 on its $ 10,000 term loan credit agreement (Spinco Term Loan), which conveyed to WBD. Total debt conveyed was approximately $ 41,600 , which included $ 1,600 of existing WarnerMedia debt, $ 30,000 of Spinco senior notes issued in March 2022 and the $ 10,000 Spinco Term Loan. WarnerMedia cash transfer to Discovery was approximately $ 2,660 . </context> | us-gaap:NotesIssued1 |
(a) Cash dividends declared per common share were $ 4.9450 , $ 4.5250 and $ 4.2475 for 2023, 2022 and 2021, respectively. | text | 4.9450 | perShareItemType | text: <entity> 4.9450 </entity> <entity type> perShareItemType </entity type> <context> (a) Cash dividends declared per common share were $ 4.9450 , $ 4.5250 and $ 4.2475 for 2023, 2022 and 2021, respectively. </context> | us-gaap:CommonStockDividendsPerShareDeclared |
(a) Cash dividends declared per common share were $ 4.9450 , $ 4.5250 and $ 4.2475 for 2023, 2022 and 2021, respectively. | text | 4.5250 | perShareItemType | text: <entity> 4.5250 </entity> <entity type> perShareItemType </entity type> <context> (a) Cash dividends declared per common share were $ 4.9450 , $ 4.5250 and $ 4.2475 for 2023, 2022 and 2021, respectively. </context> | us-gaap:CommonStockDividendsPerShareDeclared |
(a) Cash dividends declared per common share were $ 4.9450 , $ 4.5250 and $ 4.2475 for 2023, 2022 and 2021, respectively. | text | 4.2475 | perShareItemType | text: <entity> 4.2475 </entity> <entity type> perShareItemType </entity type> <context> (a) Cash dividends declared per common share were $ 4.9450 , $ 4.5250 and $ 4.2475 for 2023, 2022 and 2021, respectively. </context> | us-gaap:CommonStockDividendsPerShareDeclared |
The accompanying consolidated financial statements have been prepared in accordance with GAAP and include the consolidated accounts of PepsiCo, Inc. and the affiliates that we control. In addition, we include our share of the results of certain other affiliates using the equity method based on our economic ownership interest, our ability to exercise significant influence over the operating or financial decisions of these affiliates or our ability to direct their economic resources. We do not control these other affiliates, as our ownership in these other affiliates is generally 50 % or less. Intercompany balances and transactions are eliminated. As a result of exchange restrictions and other operating restrictions, we do not have control over our Venezuelan subsidiaries. As such, our Venezuelan subsidiaries are not included within our consolidated financial results for any period presented. | text | 50 | percentItemType | text: <entity> 50 </entity> <entity type> percentItemType </entity type> <context> The accompanying consolidated financial statements have been prepared in accordance with GAAP and include the consolidated accounts of PepsiCo, Inc. and the affiliates that we control. In addition, we include our share of the results of certain other affiliates using the equity method based on our economic ownership interest, our ability to exercise significant influence over the operating or financial decisions of these affiliates or our ability to direct their economic resources. We do not control these other affiliates, as our ownership in these other affiliates is generally 50 % or less. Intercompany balances and transactions are eliminated. As a result of exchange restrictions and other operating restrictions, we do not have control over our Venezuelan subsidiaries. As such, our Venezuelan subsidiaries are not included within our consolidated financial results for any period presented. </context> | us-gaap:MinorityInterestOwnershipPercentageByParent |
We are organized into seven reportable segments (also referred to as divisions), as follows: | text | seven | integerItemType | text: <entity> seven </entity> <entity type> integerItemType </entity type> <context> We are organized into seven reportable segments (also referred to as divisions), as follows: </context> | us-gaap:NumberOfReportableSegments |
Through our operations, authorized bottlers, contract manufacturers and other third parties, we make, market, distribute and sell a wide variety of beverages and convenient foods, serving customers and consumers in more than 200 countries and territories with our largest operations in the United States, Mexico, Canada, Russia, China, the United Kingdom, Brazil and South Africa. | text | 200 | integerItemType | text: <entity> 200 </entity> <entity type> integerItemType </entity type> <context> Through our operations, authorized bottlers, contract manufacturers and other third parties, we make, market, distribute and sell a wide variety of beverages and convenient foods, serving customers and consumers in more than 200 countries and territories with our largest operations in the United States, Mexico, Canada, Russia, China, the United Kingdom, Brazil and South Africa. </context> | us-gaap:NumberOfCountriesInWhichEntityOperates |
In 2022, we recorded a gain of $ 3,029 million and $ 292 million in our PBNA and Europe divisions, respectively, associated with the Juice Transaction. The total after-tax amount was $ 2,888 million or $ 2.08 per share. See Note 13 for further information. | text | 3029 | monetaryItemType | text: <entity> 3029 </entity> <entity type> monetaryItemType </entity type> <context> In 2022, we recorded a gain of $ 3,029 million and $ 292 million in our PBNA and Europe divisions, respectively, associated with the Juice Transaction. The total after-tax amount was $ 2,888 million or $ 2.08 per share. See Note 13 for further information. </context> | us-gaap:GainLossOnSaleOfBusiness |
In 2022, we recorded a gain of $ 3,029 million and $ 292 million in our PBNA and Europe divisions, respectively, associated with the Juice Transaction. The total after-tax amount was $ 2,888 million or $ 2.08 per share. See Note 13 for further information. | text | 292 | monetaryItemType | text: <entity> 292 </entity> <entity type> monetaryItemType </entity type> <context> In 2022, we recorded a gain of $ 3,029 million and $ 292 million in our PBNA and Europe divisions, respectively, associated with the Juice Transaction. The total after-tax amount was $ 2,888 million or $ 2.08 per share. See Note 13 for further information. </context> | us-gaap:GainLossOnSaleOfBusiness |
Advertising and other marketing activities, reported as selling, general and administrative expenses, totaled $ 5.7 billion in 2023, $ 5.2 billion in 2022 and $ 5.1 billion in 2021, including advertising expenses of $ 3.8 billion in 2023 and $ 3.5 billion in both 2022 and 2021. Deferred advertising costs are not expensed until the year first used and consist of: | text | 5.7 | monetaryItemType | text: <entity> 5.7 </entity> <entity type> monetaryItemType </entity type> <context> Advertising and other marketing activities, reported as selling, general and administrative expenses, totaled $ 5.7 billion in 2023, $ 5.2 billion in 2022 and $ 5.1 billion in 2021, including advertising expenses of $ 3.8 billion in 2023 and $ 3.5 billion in both 2022 and 2021. Deferred advertising costs are not expensed until the year first used and consist of: </context> | us-gaap:MarketingAndAdvertisingExpense |
Advertising and other marketing activities, reported as selling, general and administrative expenses, totaled $ 5.7 billion in 2023, $ 5.2 billion in 2022 and $ 5.1 billion in 2021, including advertising expenses of $ 3.8 billion in 2023 and $ 3.5 billion in both 2022 and 2021. Deferred advertising costs are not expensed until the year first used and consist of: | text | 5.2 | monetaryItemType | text: <entity> 5.2 </entity> <entity type> monetaryItemType </entity type> <context> Advertising and other marketing activities, reported as selling, general and administrative expenses, totaled $ 5.7 billion in 2023, $ 5.2 billion in 2022 and $ 5.1 billion in 2021, including advertising expenses of $ 3.8 billion in 2023 and $ 3.5 billion in both 2022 and 2021. Deferred advertising costs are not expensed until the year first used and consist of: </context> | us-gaap:MarketingAndAdvertisingExpense |
Advertising and other marketing activities, reported as selling, general and administrative expenses, totaled $ 5.7 billion in 2023, $ 5.2 billion in 2022 and $ 5.1 billion in 2021, including advertising expenses of $ 3.8 billion in 2023 and $ 3.5 billion in both 2022 and 2021. Deferred advertising costs are not expensed until the year first used and consist of: | text | 5.1 | monetaryItemType | text: <entity> 5.1 </entity> <entity type> monetaryItemType </entity type> <context> Advertising and other marketing activities, reported as selling, general and administrative expenses, totaled $ 5.7 billion in 2023, $ 5.2 billion in 2022 and $ 5.1 billion in 2021, including advertising expenses of $ 3.8 billion in 2023 and $ 3.5 billion in both 2022 and 2021. Deferred advertising costs are not expensed until the year first used and consist of: </context> | us-gaap:MarketingAndAdvertisingExpense |
Advertising and other marketing activities, reported as selling, general and administrative expenses, totaled $ 5.7 billion in 2023, $ 5.2 billion in 2022 and $ 5.1 billion in 2021, including advertising expenses of $ 3.8 billion in 2023 and $ 3.5 billion in both 2022 and 2021. Deferred advertising costs are not expensed until the year first used and consist of: | text | 3.8 | monetaryItemType | text: <entity> 3.8 </entity> <entity type> monetaryItemType </entity type> <context> Advertising and other marketing activities, reported as selling, general and administrative expenses, totaled $ 5.7 billion in 2023, $ 5.2 billion in 2022 and $ 5.1 billion in 2021, including advertising expenses of $ 3.8 billion in 2023 and $ 3.5 billion in both 2022 and 2021. Deferred advertising costs are not expensed until the year first used and consist of: </context> | us-gaap:AdvertisingExpense |
Deferred advertising costs of $ 67 million and $ 40 million as of December 30, 2023 and December 31, 2022, respectively, are classified as prepaid expenses and other current assets on our balance sheet. | text | 67 | monetaryItemType | text: <entity> 67 </entity> <entity type> monetaryItemType </entity type> <context> Deferred advertising costs of $ 67 million and $ 40 million as of December 30, 2023 and December 31, 2022, respectively, are classified as prepaid expenses and other current assets on our balance sheet. </context> | us-gaap:DeferredAdvertisingCosts |
Deferred advertising costs of $ 67 million and $ 40 million as of December 30, 2023 and December 31, 2022, respectively, are classified as prepaid expenses and other current assets on our balance sheet. | text | 40 | monetaryItemType | text: <entity> 40 </entity> <entity type> monetaryItemType </entity type> <context> Deferred advertising costs of $ 67 million and $ 40 million as of December 30, 2023 and December 31, 2022, respectively, are classified as prepaid expenses and other current assets on our balance sheet. </context> | us-gaap:DeferredAdvertisingCosts |
We capitalize certain computer software and software development costs incurred in connection with developing or obtaining computer software for internal use when both the preliminary project stage is completed and it is probable that the software will be used as intended. Capitalized software costs include (1) external direct costs of materials and services utilized in developing or obtaining computer software, (2) compensation and related benefits for employees who are directly associated with the software projects and (3) interest costs incurred while developing internal-use computer software. Capitalized software costs are included in property, plant and equipment on our balance sheet and amortized on a straight-line basis when placed into service over the estimated useful lives of the software, which approximate five to 10 years. Software amortization totaled $ 159 million in 2023, $ 123 million in 2022 and $ 135 million in 2021. Net capitalized software and development costs were $ 1.4 billion and $ 1.1 billion as of December 30, 2023 | text | 159 | monetaryItemType | text: <entity> 159 </entity> <entity type> monetaryItemType </entity type> <context> We capitalize certain computer software and software development costs incurred in connection with developing or obtaining computer software for internal use when both the preliminary project stage is completed and it is probable that the software will be used as intended. Capitalized software costs include (1) external direct costs of materials and services utilized in developing or obtaining computer software, (2) compensation and related benefits for employees who are directly associated with the software projects and (3) interest costs incurred while developing internal-use computer software. Capitalized software costs are included in property, plant and equipment on our balance sheet and amortized on a straight-line basis when placed into service over the estimated useful lives of the software, which approximate five to 10 years. Software amortization totaled $ 159 million in 2023, $ 123 million in 2022 and $ 135 million in 2021. Net capitalized software and development costs were $ 1.4 billion and $ 1.1 billion as of December 30, 2023 </context> | us-gaap:CapitalizedComputerSoftwareAmortization1 |
We capitalize certain computer software and software development costs incurred in connection with developing or obtaining computer software for internal use when both the preliminary project stage is completed and it is probable that the software will be used as intended. Capitalized software costs include (1) external direct costs of materials and services utilized in developing or obtaining computer software, (2) compensation and related benefits for employees who are directly associated with the software projects and (3) interest costs incurred while developing internal-use computer software. Capitalized software costs are included in property, plant and equipment on our balance sheet and amortized on a straight-line basis when placed into service over the estimated useful lives of the software, which approximate five to 10 years. Software amortization totaled $ 159 million in 2023, $ 123 million in 2022 and $ 135 million in 2021. Net capitalized software and development costs were $ 1.4 billion and $ 1.1 billion as of December 30, 2023 | text | 123 | monetaryItemType | text: <entity> 123 </entity> <entity type> monetaryItemType </entity type> <context> We capitalize certain computer software and software development costs incurred in connection with developing or obtaining computer software for internal use when both the preliminary project stage is completed and it is probable that the software will be used as intended. Capitalized software costs include (1) external direct costs of materials and services utilized in developing or obtaining computer software, (2) compensation and related benefits for employees who are directly associated with the software projects and (3) interest costs incurred while developing internal-use computer software. Capitalized software costs are included in property, plant and equipment on our balance sheet and amortized on a straight-line basis when placed into service over the estimated useful lives of the software, which approximate five to 10 years. Software amortization totaled $ 159 million in 2023, $ 123 million in 2022 and $ 135 million in 2021. Net capitalized software and development costs were $ 1.4 billion and $ 1.1 billion as of December 30, 2023 </context> | us-gaap:CapitalizedComputerSoftwareAmortization1 |
We capitalize certain computer software and software development costs incurred in connection with developing or obtaining computer software for internal use when both the preliminary project stage is completed and it is probable that the software will be used as intended. Capitalized software costs include (1) external direct costs of materials and services utilized in developing or obtaining computer software, (2) compensation and related benefits for employees who are directly associated with the software projects and (3) interest costs incurred while developing internal-use computer software. Capitalized software costs are included in property, plant and equipment on our balance sheet and amortized on a straight-line basis when placed into service over the estimated useful lives of the software, which approximate five to 10 years. Software amortization totaled $ 159 million in 2023, $ 123 million in 2022 and $ 135 million in 2021. Net capitalized software and development costs were $ 1.4 billion and $ 1.1 billion as of December 30, 2023 | text | 135 | monetaryItemType | text: <entity> 135 </entity> <entity type> monetaryItemType </entity type> <context> We capitalize certain computer software and software development costs incurred in connection with developing or obtaining computer software for internal use when both the preliminary project stage is completed and it is probable that the software will be used as intended. Capitalized software costs include (1) external direct costs of materials and services utilized in developing or obtaining computer software, (2) compensation and related benefits for employees who are directly associated with the software projects and (3) interest costs incurred while developing internal-use computer software. Capitalized software costs are included in property, plant and equipment on our balance sheet and amortized on a straight-line basis when placed into service over the estimated useful lives of the software, which approximate five to 10 years. Software amortization totaled $ 159 million in 2023, $ 123 million in 2022 and $ 135 million in 2021. Net capitalized software and development costs were $ 1.4 billion and $ 1.1 billion as of December 30, 2023 </context> | us-gaap:CapitalizedComputerSoftwareAmortization1 |
We capitalize certain computer software and software development costs incurred in connection with developing or obtaining computer software for internal use when both the preliminary project stage is completed and it is probable that the software will be used as intended. Capitalized software costs include (1) external direct costs of materials and services utilized in developing or obtaining computer software, (2) compensation and related benefits for employees who are directly associated with the software projects and (3) interest costs incurred while developing internal-use computer software. Capitalized software costs are included in property, plant and equipment on our balance sheet and amortized on a straight-line basis when placed into service over the estimated useful lives of the software, which approximate five to 10 years. Software amortization totaled $ 159 million in 2023, $ 123 million in 2022 and $ 135 million in 2021. Net capitalized software and development costs were $ 1.4 billion and $ 1.1 billion as of December 30, 2023 | text | 1.4 | monetaryItemType | text: <entity> 1.4 </entity> <entity type> monetaryItemType </entity type> <context> We capitalize certain computer software and software development costs incurred in connection with developing or obtaining computer software for internal use when both the preliminary project stage is completed and it is probable that the software will be used as intended. Capitalized software costs include (1) external direct costs of materials and services utilized in developing or obtaining computer software, (2) compensation and related benefits for employees who are directly associated with the software projects and (3) interest costs incurred while developing internal-use computer software. Capitalized software costs are included in property, plant and equipment on our balance sheet and amortized on a straight-line basis when placed into service over the estimated useful lives of the software, which approximate five to 10 years. Software amortization totaled $ 159 million in 2023, $ 123 million in 2022 and $ 135 million in 2021. Net capitalized software and development costs were $ 1.4 billion and $ 1.1 billion as of December 30, 2023 </context> | us-gaap:CapitalizedComputerSoftwareNet |
We capitalize certain computer software and software development costs incurred in connection with developing or obtaining computer software for internal use when both the preliminary project stage is completed and it is probable that the software will be used as intended. Capitalized software costs include (1) external direct costs of materials and services utilized in developing or obtaining computer software, (2) compensation and related benefits for employees who are directly associated with the software projects and (3) interest costs incurred while developing internal-use computer software. Capitalized software costs are included in property, plant and equipment on our balance sheet and amortized on a straight-line basis when placed into service over the estimated useful lives of the software, which approximate five to 10 years. Software amortization totaled $ 159 million in 2023, $ 123 million in 2022 and $ 135 million in 2021. Net capitalized software and development costs were $ 1.4 billion and $ 1.1 billion as of December 30, 2023 | text | 1.1 | monetaryItemType | text: <entity> 1.1 </entity> <entity type> monetaryItemType </entity type> <context> We capitalize certain computer software and software development costs incurred in connection with developing or obtaining computer software for internal use when both the preliminary project stage is completed and it is probable that the software will be used as intended. Capitalized software costs include (1) external direct costs of materials and services utilized in developing or obtaining computer software, (2) compensation and related benefits for employees who are directly associated with the software projects and (3) interest costs incurred while developing internal-use computer software. Capitalized software costs are included in property, plant and equipment on our balance sheet and amortized on a straight-line basis when placed into service over the estimated useful lives of the software, which approximate five to 10 years. Software amortization totaled $ 159 million in 2023, $ 123 million in 2022 and $ 135 million in 2021. Net capitalized software and development costs were $ 1.4 billion and $ 1.1 billion as of December 30, 2023 </context> | us-gaap:CapitalizedComputerSoftwareNet |
We engage in a variety of research and development activities and continue to invest to accelerate growth and to drive innovation globally. Consumer research is excluded from research and development costs and included in other marketing costs. Research and development costs were $ 804 million, $ 771 million and $ 752 million in 2023, 2022 and 2021, respectively, and are reported within selling, general and administrative expenses. | text | 804 | monetaryItemType | text: <entity> 804 </entity> <entity type> monetaryItemType </entity type> <context> We engage in a variety of research and development activities and continue to invest to accelerate growth and to drive innovation globally. Consumer research is excluded from research and development costs and included in other marketing costs. Research and development costs were $ 804 million, $ 771 million and $ 752 million in 2023, 2022 and 2021, respectively, and are reported within selling, general and administrative expenses. </context> | us-gaap:ResearchAndDevelopmentExpense |
We engage in a variety of research and development activities and continue to invest to accelerate growth and to drive innovation globally. Consumer research is excluded from research and development costs and included in other marketing costs. Research and development costs were $ 804 million, $ 771 million and $ 752 million in 2023, 2022 and 2021, respectively, and are reported within selling, general and administrative expenses. | text | 771 | monetaryItemType | text: <entity> 771 </entity> <entity type> monetaryItemType </entity type> <context> We engage in a variety of research and development activities and continue to invest to accelerate growth and to drive innovation globally. Consumer research is excluded from research and development costs and included in other marketing costs. Research and development costs were $ 804 million, $ 771 million and $ 752 million in 2023, 2022 and 2021, respectively, and are reported within selling, general and administrative expenses. </context> | us-gaap:ResearchAndDevelopmentExpense |
We engage in a variety of research and development activities and continue to invest to accelerate growth and to drive innovation globally. Consumer research is excluded from research and development costs and included in other marketing costs. Research and development costs were $ 804 million, $ 771 million and $ 752 million in 2023, 2022 and 2021, respectively, and are reported within selling, general and administrative expenses. | text | 752 | monetaryItemType | text: <entity> 752 </entity> <entity type> monetaryItemType </entity type> <context> We engage in a variety of research and development activities and continue to invest to accelerate growth and to drive innovation globally. Consumer research is excluded from research and development costs and included in other marketing costs. Research and development costs were $ 804 million, $ 771 million and $ 752 million in 2023, 2022 and 2021, respectively, and are reported within selling, general and administrative expenses. </context> | us-gaap:ResearchAndDevelopmentExpense |
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 | text | 3.65 | monetaryItemType | text: <entity> 3.65 </entity> <entity type> monetaryItemType </entity type> <context> 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 </context> | us-gaap:RestructuringAndRelatedCostExpectedCost1 |
There were no material charges related to other productivity and efficiency initiatives outside the scope of the 2019 Productivity Plan. | text | no | monetaryItemType | text: <entity> no </entity> <entity type> monetaryItemType </entity type> <context> There were no material charges related to other productivity and efficiency initiatives outside the scope of the 2019 Productivity Plan. </context> | us-gaap:RestructuringCharges |
We did not recognize any impairment charges for goodwill in each of the years ended December 31, 2022 and December 25, 2021. We did not recognize any impairment charges for indefinite-lived intangible assets in the year ended December 25, 2021. | text | not | monetaryItemType | text: <entity> not </entity> <entity type> monetaryItemType </entity type> <context> We did not recognize any impairment charges for goodwill in each of the years ended December 31, 2022 and December 25, 2021. We did not recognize any impairment charges for indefinite-lived intangible assets in the year ended December 25, 2021. </context> | us-gaap:ImpairmentOfIntangibleAssetsExcludingGoodwill |
In 2021, we received a final assessment from the 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. As a result of the analysis of the 2014 through 2016 final assessment, we remeasured all applicable reserves for uncertain tax positions for all years open under the statute of limitations, including any correlating adjustments impacting the mandatory transition tax liability under the TCJ Act, resulting in a net non-cash tax expense of $ 112 million ($ 0.08 per share) in 2021. | text | 112 | monetaryItemType | text: <entity> 112 </entity> <entity type> monetaryItemType </entity type> <context> In 2021, we received a final assessment from the 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. As a result of the analysis of the 2014 through 2016 final assessment, we remeasured all applicable reserves for uncertain tax positions for all years open under the statute of limitations, including any correlating adjustments impacting the mandatory transition tax liability under the TCJ Act, resulting in a net non-cash tax expense of $ 112 million ($ 0.08 per share) in 2021. </context> | us-gaap:TaxAdjustmentsSettlementsAndUnusualProvisions |
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 reduced our reserves for uncertain tax positions, including any correlating adjustments impacting the mandatory transition tax liability under the TCJ Act, resulting in a net non-cash tax benefit of $ 233 million ($ 0.17 per share) in 2022. Tax years 2014 through 2019 remain under audit for other issues. | text | 233 | monetaryItemType | text: <entity> 233 </entity> <entity type> monetaryItemType </entity type> <context> 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 reduced our reserves for uncertain tax positions, including any correlating adjustments impacting the mandatory transition tax liability under the TCJ Act, resulting in a net non-cash tax benefit of $ 233 million ($ 0.17 per share) in 2022. Tax years 2014 through 2019 remain under audit for other issues. </context> | us-gaap:TaxAdjustmentsSettlementsAndUnusualProvisions |
As of December 30, 2023, the total gross amount of reserves for income taxes, reported in other liabilities, was $ 2.1 billion. We accrue interest related to reserves for income taxes in our provision for income taxes and any associated penalties are recorded in selling, general and administrative expenses. The gross amount of interest accrued, reported in other liabilities, was $ 390 million as of December 30, 2023, of which $ 102 million of tax expense was recognized in 2023. The gross amount of interest accrued, reported in other liabilities, was $ 292 million as of December 31, 2022, of which $ 4 million of tax benefit was recognized in 2022. | text | 390 | monetaryItemType | text: <entity> 390 </entity> <entity type> monetaryItemType </entity type> <context> As of December 30, 2023, the total gross amount of reserves for income taxes, reported in other liabilities, was $ 2.1 billion. We accrue interest related to reserves for income taxes in our provision for income taxes and any associated penalties are recorded in selling, general and administrative expenses. The gross amount of interest accrued, reported in other liabilities, was $ 390 million as of December 30, 2023, of which $ 102 million of tax expense was recognized in 2023. The gross amount of interest accrued, reported in other liabilities, was $ 292 million as of December 31, 2022, of which $ 4 million of tax benefit was recognized in 2022. </context> | us-gaap:UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued |
As of December 30, 2023, the total gross amount of reserves for income taxes, reported in other liabilities, was $ 2.1 billion. We accrue interest related to reserves for income taxes in our provision for income taxes and any associated penalties are recorded in selling, general and administrative expenses. The gross amount of interest accrued, reported in other liabilities, was $ 390 million as of December 30, 2023, of which $ 102 million of tax expense was recognized in 2023. The gross amount of interest accrued, reported in other liabilities, was $ 292 million as of December 31, 2022, of which $ 4 million of tax benefit was recognized in 2022. | text | 102 | monetaryItemType | text: <entity> 102 </entity> <entity type> monetaryItemType </entity type> <context> As of December 30, 2023, the total gross amount of reserves for income taxes, reported in other liabilities, was $ 2.1 billion. We accrue interest related to reserves for income taxes in our provision for income taxes and any associated penalties are recorded in selling, general and administrative expenses. The gross amount of interest accrued, reported in other liabilities, was $ 390 million as of December 30, 2023, of which $ 102 million of tax expense was recognized in 2023. The gross amount of interest accrued, reported in other liabilities, was $ 292 million as of December 31, 2022, of which $ 4 million of tax benefit was recognized in 2022. </context> | us-gaap:UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense |
As of December 30, 2023, the total gross amount of reserves for income taxes, reported in other liabilities, was $ 2.1 billion. We accrue interest related to reserves for income taxes in our provision for income taxes and any associated penalties are recorded in selling, general and administrative expenses. The gross amount of interest accrued, reported in other liabilities, was $ 390 million as of December 30, 2023, of which $ 102 million of tax expense was recognized in 2023. The gross amount of interest accrued, reported in other liabilities, was $ 292 million as of December 31, 2022, of which $ 4 million of tax benefit was recognized in 2022. | text | 292 | monetaryItemType | text: <entity> 292 </entity> <entity type> monetaryItemType </entity type> <context> As of December 30, 2023, the total gross amount of reserves for income taxes, reported in other liabilities, was $ 2.1 billion. We accrue interest related to reserves for income taxes in our provision for income taxes and any associated penalties are recorded in selling, general and administrative expenses. The gross amount of interest accrued, reported in other liabilities, was $ 390 million as of December 30, 2023, of which $ 102 million of tax expense was recognized in 2023. The gross amount of interest accrued, reported in other liabilities, was $ 292 million as of December 31, 2022, of which $ 4 million of tax benefit was recognized in 2022. </context> | us-gaap:UnrecognizedTaxBenefitsInterestOnIncomeTaxesAccrued |
As of December 30, 2023, the total gross amount of reserves for income taxes, reported in other liabilities, was $ 2.1 billion. We accrue interest related to reserves for income taxes in our provision for income taxes and any associated penalties are recorded in selling, general and administrative expenses. The gross amount of interest accrued, reported in other liabilities, was $ 390 million as of December 30, 2023, of which $ 102 million of tax expense was recognized in 2023. The gross amount of interest accrued, reported in other liabilities, was $ 292 million as of December 31, 2022, of which $ 4 million of tax benefit was recognized in 2022. | text | 4 | monetaryItemType | text: <entity> 4 </entity> <entity type> monetaryItemType </entity type> <context> As of December 30, 2023, the total gross amount of reserves for income taxes, reported in other liabilities, was $ 2.1 billion. We accrue interest related to reserves for income taxes in our provision for income taxes and any associated penalties are recorded in selling, general and administrative expenses. The gross amount of interest accrued, reported in other liabilities, was $ 390 million as of December 30, 2023, of which $ 102 million of tax expense was recognized in 2023. The gross amount of interest accrued, reported in other liabilities, was $ 292 million as of December 31, 2022, of which $ 4 million of tax benefit was recognized in 2022. </context> | us-gaap:UnrecognizedTaxBenefitsInterestOnIncomeTaxesExpense |
Operating loss carryforwards and income tax credits totaling $ 34.7 billion as of December 30, 2023 are being carried forward in a number of foreign and state jurisdictions where we are permitted to use tax operating losses and income tax credits from prior periods to reduce future taxable income or income tax liabilities. These operating losses and income tax credits will expire as follows: $ 0.4 billion in 2024, $ 29.8 | text | 34.7 | monetaryItemType | text: <entity> 34.7 </entity> <entity type> monetaryItemType </entity type> <context> Operating loss carryforwards and income tax credits totaling $ 34.7 billion as of December 30, 2023 are being carried forward in a number of foreign and state jurisdictions where we are permitted to use tax operating losses and income tax credits from prior periods to reduce future taxable income or income tax liabilities. These operating losses and income tax credits will expire as follows: $ 0.4 billion in 2024, $ 29.8 </context> | us-gaap:OperatingLossCarryforwards |
Operating loss carryforwards and income tax credits totaling $ 34.7 billion as of December 30, 2023 are being carried forward in a number of foreign and state jurisdictions where we are permitted to use tax operating losses and income tax credits from prior periods to reduce future taxable income or income tax liabilities. These operating losses and income tax credits will expire as follows: $ 0.4 billion in 2024, $ 29.8 | text | 0.4 | monetaryItemType | text: <entity> 0.4 </entity> <entity type> monetaryItemType </entity type> <context> Operating loss carryforwards and income tax credits totaling $ 34.7 billion as of December 30, 2023 are being carried forward in a number of foreign and state jurisdictions where we are permitted to use tax operating losses and income tax credits from prior periods to reduce future taxable income or income tax liabilities. These operating losses and income tax credits will expire as follows: $ 0.4 billion in 2024, $ 29.8 </context> | us-gaap:OperatingLossCarryforwards |
Operating loss carryforwards and income tax credits totaling $ 34.7 billion as of December 30, 2023 are being carried forward in a number of foreign and state jurisdictions where we are permitted to use tax operating losses and income tax credits from prior periods to reduce future taxable income or income tax liabilities. These operating losses and income tax credits will expire as follows: $ 0.4 billion in 2024, $ 29.8 | text | 29.8 | monetaryItemType | text: <entity> 29.8 </entity> <entity type> monetaryItemType </entity type> <context> Operating loss carryforwards and income tax credits totaling $ 34.7 billion as of December 30, 2023 are being carried forward in a number of foreign and state jurisdictions where we are permitted to use tax operating losses and income tax credits from prior periods to reduce future taxable income or income tax liabilities. These operating losses and income tax credits will expire as follows: $ 0.4 billion in 2024, $ 29.8 </context> | us-gaap:OperatingLossCarryforwards |
billion between 2025 and 2041 and $ 4.5 billion may be carried forward indefinitely. We establish valuation allowances for our deferred tax assets if, based on the available evidence, it is not more likely than not that some portion or all of the deferred tax assets will be realized. | text | 4.5 | monetaryItemType | text: <entity> 4.5 </entity> <entity type> monetaryItemType </entity type> <context> billion between 2025 and 2041 and $ 4.5 billion may be carried forward indefinitely. We establish valuation allowances for our deferred tax assets if, based on the available evidence, it is not more likely than not that some portion or all of the deferred tax assets will be realized. </context> | us-gaap:OperatingLossCarryforwards |
As of December 30, 2023, we had approximately $ 7 billion of undistributed international earnings. We intend to continue to reinvest $ 7 billion of earnings outside the United States for the foreseeable future and while future distribution of these earnings would not be subject to U.S. federal tax expense, no deferred tax liabilities with respect to items such as certain foreign exchange gains or losses, foreign withholding taxes or state taxes have been recognized. It is not practicable for us to determine the amount of unrecognized tax expense on these reinvested international earnings. | text | 7 | monetaryItemType | text: <entity> 7 </entity> <entity type> monetaryItemType </entity type> <context> As of December 30, 2023, we had approximately $ 7 billion of undistributed international earnings. We intend to continue to reinvest $ 7 billion of earnings outside the United States for the foreseeable future and while future distribution of these earnings would not be subject to U.S. federal tax expense, no deferred tax liabilities with respect to items such as certain foreign exchange gains or losses, foreign withholding taxes or state taxes have been recognized. It is not practicable for us to determine the amount of unrecognized tax expense on these reinvested international earnings. </context> | us-gaap:UndistributedEarningsOfForeignSubsidiaries |
As of December 30, 2023, 28 million shares were available for future share-based compensation grants under the LTIP. | text | 28 | sharesItemType | text: <entity> 28 </entity> <entity type> sharesItemType </entity type> <context> As of December 30, 2023, 28 million shares were available for future share-based compensation grants under the LTIP. </context> | us-gaap:CommonStockCapitalSharesReservedForFutureIssuance |
As of December 30, 2023, there was $ 441 million of total unrecognized compensation cost related to nonvested share-based compensation grants. This unrecognized compensation cost is expected to be recognized over a weighted-average period of two years . | text | 441 | monetaryItemType | text: <entity> 441 </entity> <entity type> monetaryItemType </entity type> <context> As of December 30, 2023, there was $ 441 million of total unrecognized compensation cost related to nonvested share-based compensation grants. This unrecognized compensation cost is expected to be recognized over a weighted-average period of two years . </context> | us-gaap:EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized |
In 2022, we transferred pension and retiree medical obligations of $ 145 million and related assets to TBG in connection with the Juice Transaction. See Note 13 for further information. | text | 145 | monetaryItemType | text: <entity> 145 </entity> <entity type> monetaryItemType </entity type> <context> In 2022, we transferred pension and retiree medical obligations of $ 145 million and related assets to TBG in connection with the Juice Transaction. See Note 13 for further information. </context> | us-gaap:DefinedBenefitPlanDivestituresBenefitObligation |
Includes $ 183 million and $ 196 million in 2023 and 2022, respectively, of retiree medical plan assets that are restricted for purposes of providing health benefits for U.S. retirees and their beneficiaries. | text | 183 | monetaryItemType | text: <entity> 183 </entity> <entity type> monetaryItemType </entity type> <context> Includes $ 183 million and $ 196 million in 2023 and 2022, respectively, of retiree medical plan assets that are restricted for purposes of providing health benefits for U.S. retirees and their beneficiaries. </context> | us-gaap:DefinedBenefitPlanFairValueOfPlanAssets |
Includes $ 183 million and $ 196 million in 2023 and 2022, respectively, of retiree medical plan assets that are restricted for purposes of providing health benefits for U.S. retirees and their beneficiaries. | text | 196 | monetaryItemType | text: <entity> 196 </entity> <entity type> monetaryItemType </entity type> <context> Includes $ 183 million and $ 196 million in 2023 and 2022, respectively, of retiree medical plan assets that are restricted for purposes of providing health benefits for U.S. retirees and their beneficiaries. </context> | us-gaap:DefinedBenefitPlanFairValueOfPlanAssets |
These investments are based on quoted bid prices for comparable securities in the marketplace and broker/dealer quotes in active markets. Corporate bonds of U.S.-based companies represents 31 % and 32 % of total U.S. plan assets for 2023 and 2022, respectively. | text | 31 | percentItemType | text: <entity> 31 </entity> <entity type> percentItemType </entity type> <context> These investments are based on quoted bid prices for comparable securities in the marketplace and broker/dealer quotes in active markets. Corporate bonds of U.S.-based companies represents 31 % and 32 % of total U.S. plan assets for 2023 and 2022, respectively. </context> | us-gaap:DefinedBenefitPlanPlanAssetsInvestmentWithinPlanAssetCategoryPercentage |
These investments are based on quoted bid prices for comparable securities in the marketplace and broker/dealer quotes in active markets. Corporate bonds of U.S.-based companies represents 31 % and 32 % of total U.S. plan assets for 2023 and 2022, respectively. | text | 32 | percentItemType | text: <entity> 32 </entity> <entity type> percentItemType </entity type> <context> These investments are based on quoted bid prices for comparable securities in the marketplace and broker/dealer quotes in active markets. Corporate bonds of U.S.-based companies represents 31 % and 32 % of total U.S. plan assets for 2023 and 2022, respectively. </context> | us-gaap:DefinedBenefitPlanPlanAssetsInvestmentWithinPlanAssetCategoryPercentage |
Includes Level 1 assets of $ 3 million for 2023 and Level 2 assets of $ 346 million and $ 157 million for 2023 and 2022, respectively. | text | 3 | monetaryItemType | text: <entity> 3 </entity> <entity type> monetaryItemType </entity type> <context> Includes Level 1 assets of $ 3 million for 2023 and Level 2 assets of $ 346 million and $ 157 million for 2023 and 2022, respectively. </context> | us-gaap:DefinedBenefitPlanFairValueOfPlanAssets |
Includes Level 1 assets of $ 3 million for 2023 and Level 2 assets of $ 346 million and $ 157 million for 2023 and 2022, respectively. | text | 346 | monetaryItemType | text: <entity> 346 </entity> <entity type> monetaryItemType </entity type> <context> Includes Level 1 assets of $ 3 million for 2023 and Level 2 assets of $ 346 million and $ 157 million for 2023 and 2022, respectively. </context> | us-gaap:DefinedBenefitPlanFairValueOfPlanAssets |
Includes Level 1 assets of $ 3 million for 2023 and Level 2 assets of $ 346 million and $ 157 million for 2023 and 2022, respectively. | text | 157 | monetaryItemType | text: <entity> 157 </entity> <entity type> monetaryItemType </entity type> <context> Includes Level 1 assets of $ 3 million for 2023 and Level 2 assets of $ 346 million and $ 157 million for 2023 and 2022, respectively. </context> | us-gaap:DefinedBenefitPlanFairValueOfPlanAssets |
In 2023, 2022 and 2021, our total Company contributions were $ 356 million, $ 283 million and $ 246 million, respectively. | text | 356 | monetaryItemType | text: <entity> 356 </entity> <entity type> monetaryItemType </entity type> <context> In 2023, 2022 and 2021, our total Company contributions were $ 356 million, $ 283 million and $ 246 million, respectively. </context> | us-gaap:DefinedContributionPlanCostRecognized |
In 2023, 2022 and 2021, our total Company contributions were $ 356 million, $ 283 million and $ 246 million, respectively. | text | 283 | monetaryItemType | text: <entity> 283 </entity> <entity type> monetaryItemType </entity type> <context> In 2023, 2022 and 2021, our total Company contributions were $ 356 million, $ 283 million and $ 246 million, respectively. </context> | us-gaap:DefinedContributionPlanCostRecognized |
In 2023, 2022 and 2021, our total Company contributions were $ 356 million, $ 283 million and $ 246 million, respectively. | text | 246 | monetaryItemType | text: <entity> 246 </entity> <entity type> monetaryItemType </entity type> <context> In 2023, 2022 and 2021, our total Company contributions were $ 356 million, $ 283 million and $ 246 million, respectively. </context> | us-gaap:DefinedContributionPlanCostRecognized |
Amounts are shown net of unamortized net discounts of $ 225 million and $ 227 million for 2023 and 2022, respectively. | text | 225 | monetaryItemType | text: <entity> 225 </entity> <entity type> monetaryItemType </entity type> <context> Amounts are shown net of unamortized net discounts of $ 225 million and $ 227 million for 2023 and 2022, respectively. </context> | us-gaap:DebtInstrumentUnamortizedDiscount |
Amounts are shown net of unamortized net discounts of $ 225 million and $ 227 million for 2023 and 2022, respectively. | text | 227 | monetaryItemType | text: <entity> 227 </entity> <entity type> monetaryItemType </entity type> <context> Amounts are shown net of unamortized net discounts of $ 225 million and $ 227 million for 2023 and 2022, respectively. </context> | us-gaap:DebtInstrumentUnamortizedDiscount |
As of December 30, 2023 and December 31, 2022, our international debt of $ 279 million and $ 304 million, respectively, was related to borrowings from external parties, including various lines of credit. These lines of credit are subject to normal banking terms and conditions and are fully committed at least to the extent of our borrowings. | text | 279 | monetaryItemType | text: <entity> 279 </entity> <entity type> monetaryItemType </entity type> <context> As of December 30, 2023 and December 31, 2022, our international debt of $ 279 million and $ 304 million, respectively, was related to borrowings from external parties, including various lines of credit. These lines of credit are subject to normal banking terms and conditions and are fully committed at least to the extent of our borrowings. </context> | us-gaap:LineOfCredit |
As of December 30, 2023 and December 31, 2022, our international debt of $ 279 million and $ 304 million, respectively, was related to borrowings from external parties, including various lines of credit. These lines of credit are subject to normal banking terms and conditions and are fully committed at least to the extent of our borrowings. | text | 304 | monetaryItemType | text: <entity> 304 </entity> <entity type> monetaryItemType </entity type> <context> As of December 30, 2023 and December 31, 2022, our international debt of $ 279 million and $ 304 million, respectively, was related to borrowings from external parties, including various lines of credit. These lines of credit are subject to normal banking terms and conditions and are fully committed at least to the extent of our borrowings. </context> | us-gaap:LineOfCredit |
In 2023, we entered into a new five-year unsecured revolving credit agreement (Five-Year Credit Agreement), which expires on May 26, 2028. The Five-Year Credit Agreement enables us and our borrowing subsidiaries to borrow up to $ 4.2 billion in U.S. dollars and/or euros, including a $ 0.75 billion swing line subfacility for euro-denominated borrowings permitted to be borrowed on a same-day basis, subject to customary terms and conditions. We may request that commitments under this agreement be increased up to $ 4.95 billion (or the equivalent amount in euros). Additionally, we may, once a year, request renewal of the agreement for an additional one-year period. The Five-Year Credit Agreement replaced our $ 3.8 billion five-year credit agreement, dated as of May 27, 2022. | text | 4.2 | monetaryItemType | text: <entity> 4.2 </entity> <entity type> monetaryItemType </entity type> <context> In 2023, we entered into a new five-year unsecured revolving credit agreement (Five-Year Credit Agreement), which expires on May 26, 2028. The Five-Year Credit Agreement enables us and our borrowing subsidiaries to borrow up to $ 4.2 billion in U.S. dollars and/or euros, including a $ 0.75 billion swing line subfacility for euro-denominated borrowings permitted to be borrowed on a same-day basis, subject to customary terms and conditions. We may request that commitments under this agreement be increased up to $ 4.95 billion (or the equivalent amount in euros). Additionally, we may, once a year, request renewal of the agreement for an additional one-year period. The Five-Year Credit Agreement replaced our $ 3.8 billion five-year credit agreement, dated as of May 27, 2022. </context> | us-gaap:LineOfCreditFacilityCurrentBorrowingCapacity |
In 2023, we entered into a new five-year unsecured revolving credit agreement (Five-Year Credit Agreement), which expires on May 26, 2028. The Five-Year Credit Agreement enables us and our borrowing subsidiaries to borrow up to $ 4.2 billion in U.S. dollars and/or euros, including a $ 0.75 billion swing line subfacility for euro-denominated borrowings permitted to be borrowed on a same-day basis, subject to customary terms and conditions. We may request that commitments under this agreement be increased up to $ 4.95 billion (or the equivalent amount in euros). Additionally, we may, once a year, request renewal of the agreement for an additional one-year period. The Five-Year Credit Agreement replaced our $ 3.8 billion five-year credit agreement, dated as of May 27, 2022. | text | 4.95 | monetaryItemType | text: <entity> 4.95 </entity> <entity type> monetaryItemType </entity type> <context> In 2023, we entered into a new five-year unsecured revolving credit agreement (Five-Year Credit Agreement), which expires on May 26, 2028. The Five-Year Credit Agreement enables us and our borrowing subsidiaries to borrow up to $ 4.2 billion in U.S. dollars and/or euros, including a $ 0.75 billion swing line subfacility for euro-denominated borrowings permitted to be borrowed on a same-day basis, subject to customary terms and conditions. We may request that commitments under this agreement be increased up to $ 4.95 billion (or the equivalent amount in euros). Additionally, we may, once a year, request renewal of the agreement for an additional one-year period. The Five-Year Credit Agreement replaced our $ 3.8 billion five-year credit agreement, dated as of May 27, 2022. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
In 2023, we entered into a new five-year unsecured revolving credit agreement (Five-Year Credit Agreement), which expires on May 26, 2028. The Five-Year Credit Agreement enables us and our borrowing subsidiaries to borrow up to $ 4.2 billion in U.S. dollars and/or euros, including a $ 0.75 billion swing line subfacility for euro-denominated borrowings permitted to be borrowed on a same-day basis, subject to customary terms and conditions. We may request that commitments under this agreement be increased up to $ 4.95 billion (or the equivalent amount in euros). Additionally, we may, once a year, request renewal of the agreement for an additional one-year period. The Five-Year Credit Agreement replaced our $ 3.8 billion five-year credit agreement, dated as of May 27, 2022. | text | 3.8 | monetaryItemType | text: <entity> 3.8 </entity> <entity type> monetaryItemType </entity type> <context> In 2023, we entered into a new five-year unsecured revolving credit agreement (Five-Year Credit Agreement), which expires on May 26, 2028. The Five-Year Credit Agreement enables us and our borrowing subsidiaries to borrow up to $ 4.2 billion in U.S. dollars and/or euros, including a $ 0.75 billion swing line subfacility for euro-denominated borrowings permitted to be borrowed on a same-day basis, subject to customary terms and conditions. We may request that commitments under this agreement be increased up to $ 4.95 billion (or the equivalent amount in euros). Additionally, we may, once a year, request renewal of the agreement for an additional one-year period. The Five-Year Credit Agreement replaced our $ 3.8 billion five-year credit agreement, dated as of May 27, 2022. </context> | us-gaap:LineOfCreditFacilityCurrentBorrowingCapacity |
Also in 2023, we entered into a new 364-day unsecured revolving credit agreement (364-Day Credit Agreement), which expires on May 24, 2024. The 364-Day Credit Agreement enables us and our borrowing subsidiaries to borrow up to $ 4.2 billion in U.S. dollars and/or euros, subject to customary terms and conditions. We may request that commitments under this agreement be increased up to $ 4.95 billion (or the equivalent amount in euros). We may request renewal of this facility for an additional 364-day period or convert any amounts outstanding into a term loan for a period of up to one year, which term loan would mature no later than the anniversary of the then effective termination date. The 364-Day Credit Agreement replaced our $ 3.8 billion 364-day credit agreement, dated as of May 27, 2022. | text | 4.2 | monetaryItemType | text: <entity> 4.2 </entity> <entity type> monetaryItemType </entity type> <context> Also in 2023, we entered into a new 364-day unsecured revolving credit agreement (364-Day Credit Agreement), which expires on May 24, 2024. The 364-Day Credit Agreement enables us and our borrowing subsidiaries to borrow up to $ 4.2 billion in U.S. dollars and/or euros, subject to customary terms and conditions. We may request that commitments under this agreement be increased up to $ 4.95 billion (or the equivalent amount in euros). We may request renewal of this facility for an additional 364-day period or convert any amounts outstanding into a term loan for a period of up to one year, which term loan would mature no later than the anniversary of the then effective termination date. The 364-Day Credit Agreement replaced our $ 3.8 billion 364-day credit agreement, dated as of May 27, 2022. </context> | us-gaap:LineOfCreditFacilityCurrentBorrowingCapacity |
Also in 2023, we entered into a new 364-day unsecured revolving credit agreement (364-Day Credit Agreement), which expires on May 24, 2024. The 364-Day Credit Agreement enables us and our borrowing subsidiaries to borrow up to $ 4.2 billion in U.S. dollars and/or euros, subject to customary terms and conditions. We may request that commitments under this agreement be increased up to $ 4.95 billion (or the equivalent amount in euros). We may request renewal of this facility for an additional 364-day period or convert any amounts outstanding into a term loan for a period of up to one year, which term loan would mature no later than the anniversary of the then effective termination date. The 364-Day Credit Agreement replaced our $ 3.8 billion 364-day credit agreement, dated as of May 27, 2022. | text | 4.95 | monetaryItemType | text: <entity> 4.95 </entity> <entity type> monetaryItemType </entity type> <context> Also in 2023, we entered into a new 364-day unsecured revolving credit agreement (364-Day Credit Agreement), which expires on May 24, 2024. The 364-Day Credit Agreement enables us and our borrowing subsidiaries to borrow up to $ 4.2 billion in U.S. dollars and/or euros, subject to customary terms and conditions. We may request that commitments under this agreement be increased up to $ 4.95 billion (or the equivalent amount in euros). We may request renewal of this facility for an additional 364-day period or convert any amounts outstanding into a term loan for a period of up to one year, which term loan would mature no later than the anniversary of the then effective termination date. The 364-Day Credit Agreement replaced our $ 3.8 billion 364-day credit agreement, dated as of May 27, 2022. </context> | us-gaap:LineOfCreditFacilityMaximumBorrowingCapacity |
Also in 2023, we entered into a new 364-day unsecured revolving credit agreement (364-Day Credit Agreement), which expires on May 24, 2024. The 364-Day Credit Agreement enables us and our borrowing subsidiaries to borrow up to $ 4.2 billion in U.S. dollars and/or euros, subject to customary terms and conditions. We may request that commitments under this agreement be increased up to $ 4.95 billion (or the equivalent amount in euros). We may request renewal of this facility for an additional 364-day period or convert any amounts outstanding into a term loan for a period of up to one year, which term loan would mature no later than the anniversary of the then effective termination date. The 364-Day Credit Agreement replaced our $ 3.8 billion 364-day credit agreement, dated as of May 27, 2022. | text | 3.8 | monetaryItemType | text: <entity> 3.8 </entity> <entity type> monetaryItemType </entity type> <context> Also in 2023, we entered into a new 364-day unsecured revolving credit agreement (364-Day Credit Agreement), which expires on May 24, 2024. The 364-Day Credit Agreement enables us and our borrowing subsidiaries to borrow up to $ 4.2 billion in U.S. dollars and/or euros, subject to customary terms and conditions. We may request that commitments under this agreement be increased up to $ 4.95 billion (or the equivalent amount in euros). We may request renewal of this facility for an additional 364-day period or convert any amounts outstanding into a term loan for a period of up to one year, which term loan would mature no later than the anniversary of the then effective termination date. The 364-Day Credit Agreement replaced our $ 3.8 billion 364-day credit agreement, dated as of May 27, 2022. </context> | us-gaap:LineOfCreditFacilityCurrentBorrowingCapacity |
In 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. | text | 94 | monetaryItemType | text: <entity> 94 </entity> <entity type> monetaryItemType </entity type> <context> In 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. </context> | us-gaap:DebtInstrumentFaceAmount |
In 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. | text | 102 | monetaryItemType | text: <entity> 102 </entity> <entity type> monetaryItemType </entity type> <context> In 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. </context> | us-gaap:DebtInstrumentRepurchaseAmount |
In 2022, we paid $ 750 million to redeem all $ 750 million outstanding principal amount of our 2.25 % senior notes due May 2022, we paid $ 800 million to redeem all $ 800 million outstanding principal amount of our 3.10 % senior notes due July 2022 and | text | 750 | monetaryItemType | text: <entity> 750 </entity> <entity type> monetaryItemType </entity type> <context> In 2022, we paid $ 750 million to redeem all $ 750 million outstanding principal amount of our 2.25 % senior notes due May 2022, we paid $ 800 million to redeem all $ 800 million outstanding principal amount of our 3.10 % senior notes due July 2022 and </context> | us-gaap:DebtInstrumentRepurchaseAmount |
In 2022, we paid $ 750 million to redeem all $ 750 million outstanding principal amount of our 2.25 % senior notes due May 2022, we paid $ 800 million to redeem all $ 800 million outstanding principal amount of our 3.10 % senior notes due July 2022 and | text | 750 | monetaryItemType | text: <entity> 750 </entity> <entity type> monetaryItemType </entity type> <context> In 2022, we paid $ 750 million to redeem all $ 750 million outstanding principal amount of our 2.25 % senior notes due May 2022, we paid $ 800 million to redeem all $ 800 million outstanding principal amount of our 3.10 % senior notes due July 2022 and </context> | us-gaap:DebtInstrumentRepurchasedFaceAmount |
In 2022, we paid $ 750 million to redeem all $ 750 million outstanding principal amount of our 2.25 % senior notes due May 2022, we paid $ 800 million to redeem all $ 800 million outstanding principal amount of our 3.10 % senior notes due July 2022 and | text | 2.25 | percentItemType | text: <entity> 2.25 </entity> <entity type> percentItemType </entity type> <context> In 2022, we paid $ 750 million to redeem all $ 750 million outstanding principal amount of our 2.25 % senior notes due May 2022, we paid $ 800 million to redeem all $ 800 million outstanding principal amount of our 3.10 % senior notes due July 2022 and </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
In 2022, we paid $ 750 million to redeem all $ 750 million outstanding principal amount of our 2.25 % senior notes due May 2022, we paid $ 800 million to redeem all $ 800 million outstanding principal amount of our 3.10 % senior notes due July 2022 and | text | 800 | monetaryItemType | text: <entity> 800 </entity> <entity type> monetaryItemType </entity type> <context> In 2022, we paid $ 750 million to redeem all $ 750 million outstanding principal amount of our 2.25 % senior notes due May 2022, we paid $ 800 million to redeem all $ 800 million outstanding principal amount of our 3.10 % senior notes due July 2022 and </context> | us-gaap:DebtInstrumentRepurchaseAmount |
In 2022, we paid $ 750 million to redeem all $ 750 million outstanding principal amount of our 2.25 % senior notes due May 2022, we paid $ 800 million to redeem all $ 800 million outstanding principal amount of our 3.10 % senior notes due July 2022 and | text | 800 | monetaryItemType | text: <entity> 800 </entity> <entity type> monetaryItemType </entity type> <context> In 2022, we paid $ 750 million to redeem all $ 750 million outstanding principal amount of our 2.25 % senior notes due May 2022, we paid $ 800 million to redeem all $ 800 million outstanding principal amount of our 3.10 % senior notes due July 2022 and </context> | us-gaap:DebtInstrumentRepurchasedFaceAmount |
In 2022, we paid $ 750 million to redeem all $ 750 million outstanding principal amount of our 2.25 % senior notes due May 2022, we paid $ 800 million to redeem all $ 800 million outstanding principal amount of our 3.10 % senior notes due July 2022 and | text | 3.10 | percentItemType | text: <entity> 3.10 </entity> <entity type> percentItemType </entity type> <context> In 2022, we paid $ 750 million to redeem all $ 750 million outstanding principal amount of our 2.25 % senior notes due May 2022, we paid $ 800 million to redeem all $ 800 million outstanding principal amount of our 3.10 % senior notes due July 2022 and </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
we paid $ 154 million to redeem all $ 133 million outstanding | text | 154 | monetaryItemType | text: <entity> 154 </entity> <entity type> monetaryItemType </entity type> <context> we paid $ 154 million to redeem all $ 133 million outstanding </context> | us-gaap:DebtInstrumentRepurchaseAmount |
we paid $ 154 million to redeem all $ 133 million outstanding | text | 133 | monetaryItemType | text: <entity> 133 </entity> <entity type> monetaryItemType </entity type> <context> we paid $ 154 million to redeem all $ 133 million outstanding </context> | us-gaap:DebtInstrumentRepurchasedFaceAmount |
principal amount of our subsidiary, Pepsi-Cola Metropolitan Bottling Company, Inc.’s 7.00 % senior notes due March 2029 and 5.50 % notes due May 2035. | text | 7.00 | percentItemType | text: <entity> 7.00 </entity> <entity type> percentItemType </entity type> <context> principal amount of our subsidiary, Pepsi-Cola Metropolitan Bottling Company, Inc.’s 7.00 % senior notes due March 2029 and 5.50 % notes due May 2035. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
principal amount of our subsidiary, Pepsi-Cola Metropolitan Bottling Company, Inc.’s 7.00 % senior notes due March 2029 and 5.50 % notes due May 2035. | text | 5.50 | percentItemType | text: <entity> 5.50 </entity> <entity type> percentItemType </entity type> <context> principal amount of our subsidiary, Pepsi-Cola Metropolitan Bottling Company, Inc.’s 7.00 % senior notes due March 2029 and 5.50 % notes due May 2035. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
In 2021, we completed cash tender offers to redeem $ 4.1 billion principal amount of certain notes, with maturity dates ranging from May 2035 to March 2060 and interest rates ranging from 3.375 % to 5.500 %, for $ 4.8 billion in cash. As a result of the cash tender offers, we recorded a pre-tax charge of $ 842 million ($ 677 million after-tax or $ 0.49 per share) to net interest expense and other, primarily representing the tender price paid over the carrying value of the tendered notes and loss on treasury rate locks used to mitigate the interest rate risk on the cash tender offers. | text | 4.1 | monetaryItemType | text: <entity> 4.1 </entity> <entity type> monetaryItemType </entity type> <context> In 2021, we completed cash tender offers to redeem $ 4.1 billion principal amount of certain notes, with maturity dates ranging from May 2035 to March 2060 and interest rates ranging from 3.375 % to 5.500 %, for $ 4.8 billion in cash. As a result of the cash tender offers, we recorded a pre-tax charge of $ 842 million ($ 677 million after-tax or $ 0.49 per share) to net interest expense and other, primarily representing the tender price paid over the carrying value of the tendered notes and loss on treasury rate locks used to mitigate the interest rate risk on the cash tender offers. </context> | us-gaap:DebtInstrumentRepurchasedFaceAmount |
In 2021, we completed cash tender offers to redeem $ 4.1 billion principal amount of certain notes, with maturity dates ranging from May 2035 to March 2060 and interest rates ranging from 3.375 % to 5.500 %, for $ 4.8 billion in cash. As a result of the cash tender offers, we recorded a pre-tax charge of $ 842 million ($ 677 million after-tax or $ 0.49 per share) to net interest expense and other, primarily representing the tender price paid over the carrying value of the tendered notes and loss on treasury rate locks used to mitigate the interest rate risk on the cash tender offers. | text | 3.375 | percentItemType | text: <entity> 3.375 </entity> <entity type> percentItemType </entity type> <context> In 2021, we completed cash tender offers to redeem $ 4.1 billion principal amount of certain notes, with maturity dates ranging from May 2035 to March 2060 and interest rates ranging from 3.375 % to 5.500 %, for $ 4.8 billion in cash. As a result of the cash tender offers, we recorded a pre-tax charge of $ 842 million ($ 677 million after-tax or $ 0.49 per share) to net interest expense and other, primarily representing the tender price paid over the carrying value of the tendered notes and loss on treasury rate locks used to mitigate the interest rate risk on the cash tender offers. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
In 2021, we completed cash tender offers to redeem $ 4.1 billion principal amount of certain notes, with maturity dates ranging from May 2035 to March 2060 and interest rates ranging from 3.375 % to 5.500 %, for $ 4.8 billion in cash. As a result of the cash tender offers, we recorded a pre-tax charge of $ 842 million ($ 677 million after-tax or $ 0.49 per share) to net interest expense and other, primarily representing the tender price paid over the carrying value of the tendered notes and loss on treasury rate locks used to mitigate the interest rate risk on the cash tender offers. | text | 5.500 | percentItemType | text: <entity> 5.500 </entity> <entity type> percentItemType </entity type> <context> In 2021, we completed cash tender offers to redeem $ 4.1 billion principal amount of certain notes, with maturity dates ranging from May 2035 to March 2060 and interest rates ranging from 3.375 % to 5.500 %, for $ 4.8 billion in cash. As a result of the cash tender offers, we recorded a pre-tax charge of $ 842 million ($ 677 million after-tax or $ 0.49 per share) to net interest expense and other, primarily representing the tender price paid over the carrying value of the tendered notes and loss on treasury rate locks used to mitigate the interest rate risk on the cash tender offers. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
In 2021, we completed cash tender offers to redeem $ 4.1 billion principal amount of certain notes, with maturity dates ranging from May 2035 to March 2060 and interest rates ranging from 3.375 % to 5.500 %, for $ 4.8 billion in cash. As a result of the cash tender offers, we recorded a pre-tax charge of $ 842 million ($ 677 million after-tax or $ 0.49 per share) to net interest expense and other, primarily representing the tender price paid over the carrying value of the tendered notes and loss on treasury rate locks used to mitigate the interest rate risk on the cash tender offers. | text | 4.8 | monetaryItemType | text: <entity> 4.8 </entity> <entity type> monetaryItemType </entity type> <context> In 2021, we completed cash tender offers to redeem $ 4.1 billion principal amount of certain notes, with maturity dates ranging from May 2035 to March 2060 and interest rates ranging from 3.375 % to 5.500 %, for $ 4.8 billion in cash. As a result of the cash tender offers, we recorded a pre-tax charge of $ 842 million ($ 677 million after-tax or $ 0.49 per share) to net interest expense and other, primarily representing the tender price paid over the carrying value of the tendered notes and loss on treasury rate locks used to mitigate the interest rate risk on the cash tender offers. </context> | us-gaap:DebtInstrumentRepurchaseAmount |
In 2021, we completed cash tender offers to redeem $ 4.1 billion principal amount of certain notes, with maturity dates ranging from May 2035 to March 2060 and interest rates ranging from 3.375 % to 5.500 %, for $ 4.8 billion in cash. As a result of the cash tender offers, we recorded a pre-tax charge of $ 842 million ($ 677 million after-tax or $ 0.49 per share) to net interest expense and other, primarily representing the tender price paid over the carrying value of the tendered notes and loss on treasury rate locks used to mitigate the interest rate risk on the cash tender offers. | text | 842 | monetaryItemType | text: <entity> 842 </entity> <entity type> monetaryItemType </entity type> <context> In 2021, we completed cash tender offers to redeem $ 4.1 billion principal amount of certain notes, with maturity dates ranging from May 2035 to March 2060 and interest rates ranging from 3.375 % to 5.500 %, for $ 4.8 billion in cash. As a result of the cash tender offers, we recorded a pre-tax charge of $ 842 million ($ 677 million after-tax or $ 0.49 per share) to net interest expense and other, primarily representing the tender price paid over the carrying value of the tendered notes and loss on treasury rate locks used to mitigate the interest rate risk on the cash tender offers. </context> | us-gaap:GainsLossesOnExtinguishmentOfDebt |
In 2021, we completed cash tender offers to redeem $ 4.1 billion principal amount of certain notes, with maturity dates ranging from May 2035 to March 2060 and interest rates ranging from 3.375 % to 5.500 %, for $ 4.8 billion in cash. As a result of the cash tender offers, we recorded a pre-tax charge of $ 842 million ($ 677 million after-tax or $ 0.49 per share) to net interest expense and other, primarily representing the tender price paid over the carrying value of the tendered notes and loss on treasury rate locks used to mitigate the interest rate risk on the cash tender offers. | text | 677 | monetaryItemType | text: <entity> 677 </entity> <entity type> monetaryItemType </entity type> <context> In 2021, we completed cash tender offers to redeem $ 4.1 billion principal amount of certain notes, with maturity dates ranging from May 2035 to March 2060 and interest rates ranging from 3.375 % to 5.500 %, for $ 4.8 billion in cash. As a result of the cash tender offers, we recorded a pre-tax charge of $ 842 million ($ 677 million after-tax or $ 0.49 per share) to net interest expense and other, primarily representing the tender price paid over the carrying value of the tendered notes and loss on treasury rate locks used to mitigate the interest rate risk on the cash tender offers. </context> | us-gaap:ExtinguishmentOfDebtGainLossNetOfTax |
In 2021, we completed cash tender offers to redeem $ 4.1 billion principal amount of certain notes, with maturity dates ranging from May 2035 to March 2060 and interest rates ranging from 3.375 % to 5.500 %, for $ 4.8 billion in cash. As a result of the cash tender offers, we recorded a pre-tax charge of $ 842 million ($ 677 million after-tax or $ 0.49 per share) to net interest expense and other, primarily representing the tender price paid over the carrying value of the tendered notes and loss on treasury rate locks used to mitigate the interest rate risk on the cash tender offers. | text | 0.49 | perShareItemType | text: <entity> 0.49 </entity> <entity type> perShareItemType </entity type> <context> In 2021, we completed cash tender offers to redeem $ 4.1 billion principal amount of certain notes, with maturity dates ranging from May 2035 to March 2060 and interest rates ranging from 3.375 % to 5.500 %, for $ 4.8 billion in cash. As a result of the cash tender offers, we recorded a pre-tax charge of $ 842 million ($ 677 million after-tax or $ 0.49 per share) to net interest expense and other, primarily representing the tender price paid over the carrying value of the tendered notes and loss on treasury rate locks used to mitigate the interest rate risk on the cash tender offers. </context> | us-gaap:ExtinguishmentOfDebtGainLossPerShareNetOfTax |
Also in 2021, we paid $ 750 million to redeem all $ 750 million outstanding principal amount of our 1.70 % senior notes due 2021 and terminated the associated interest rate swap with a notional amount of $ 250 million. | text | 750 | monetaryItemType | text: <entity> 750 </entity> <entity type> monetaryItemType </entity type> <context> Also in 2021, we paid $ 750 million to redeem all $ 750 million outstanding principal amount of our 1.70 % senior notes due 2021 and terminated the associated interest rate swap with a notional amount of $ 250 million. </context> | us-gaap:DebtInstrumentRepurchaseAmount |
Also in 2021, we paid $ 750 million to redeem all $ 750 million outstanding principal amount of our 1.70 % senior notes due 2021 and terminated the associated interest rate swap with a notional amount of $ 250 million. | text | 750 | monetaryItemType | text: <entity> 750 </entity> <entity type> monetaryItemType </entity type> <context> Also in 2021, we paid $ 750 million to redeem all $ 750 million outstanding principal amount of our 1.70 % senior notes due 2021 and terminated the associated interest rate swap with a notional amount of $ 250 million. </context> | us-gaap:DebtInstrumentRepurchasedFaceAmount |
Also in 2021, we paid $ 750 million to redeem all $ 750 million outstanding principal amount of our 1.70 % senior notes due 2021 and terminated the associated interest rate swap with a notional amount of $ 250 million. | text | 1.70 | percentItemType | text: <entity> 1.70 </entity> <entity type> percentItemType </entity type> <context> Also in 2021, we paid $ 750 million to redeem all $ 750 million outstanding principal amount of our 1.70 % senior notes due 2021 and terminated the associated interest rate swap with a notional amount of $ 250 million. </context> | us-gaap:DebtInstrumentInterestRateStatedPercentage |
Also in 2021, we paid $ 750 million to redeem all $ 750 million outstanding principal amount of our 1.70 % senior notes due 2021 and terminated the associated interest rate swap with a notional amount of $ 250 million. | text | 250 | monetaryItemType | text: <entity> 250 </entity> <entity type> monetaryItemType </entity type> <context> Also in 2021, we paid $ 750 million to redeem all $ 750 million outstanding principal amount of our 1.70 % senior notes due 2021 and terminated the associated interest rate swap with a notional amount of $ 250 million. </context> | us-gaap:DerivativeNotionalAmount |
Our hedging strategies include the use of derivatives and, in the case of our net investment hedges, debt instruments. Certain derivatives are designated as either cash flow or fair value hedges and qualify for hedge accounting treatment, while others do not qualify and are marked to market through earnings. The accounting for qualifying hedges allows changes in a hedging instrument’s fair value to offset corresponding changes in the hedged item in the same reporting period that the hedged item impacts earnings. Gains or losses on derivatives designated as cash flow hedges are recorded in accumulated other comprehensive loss within common shareholders’ equity and reclassified to our income statement when the hedged transaction affects earnings. If it becomes probable that the hedged transaction will not occur, we immediately recognize the related hedging gains or losses in earnings; there were no such gains or losses reclassified during the year ended December 30, 2023. | text | no | monetaryItemType | text: <entity> no </entity> <entity type> monetaryItemType </entity type> <context> Our hedging strategies include the use of derivatives and, in the case of our net investment hedges, debt instruments. Certain derivatives are designated as either cash flow or fair value hedges and qualify for hedge accounting treatment, while others do not qualify and are marked to market through earnings. The accounting for qualifying hedges allows changes in a hedging instrument’s fair value to offset corresponding changes in the hedged item in the same reporting period that the hedged item impacts earnings. Gains or losses on derivatives designated as cash flow hedges are recorded in accumulated other comprehensive loss within common shareholders’ equity and reclassified to our income statement when the hedged transaction affects earnings. If it becomes probable that the hedged transaction will not occur, we immediately recognize the related hedging gains or losses in earnings; there were no such gains or losses reclassified during the year ended December 30, 2023. </context> | us-gaap:GainLossOnDiscontinuationOfCashFlowHedgeDueToForecastedTransactionProbableOfNotOccurringNet |
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 December 30, 2023 was $ 144 million. We have posted no collateral under these contracts and no credit-risk-related contingent features were triggered as of December 30, 2023. | text | 144 | monetaryItemType | text: <entity> 144 </entity> <entity type> monetaryItemType </entity type> <context> 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 December 30, 2023 was $ 144 million. We have posted no collateral under these contracts and no credit-risk-related contingent features were triggered as of December 30, 2023. </context> | us-gaap:DerivativeNetLiabilityPositionAggregateFairValue |
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 December 30, 2023 was $ 144 million. We have posted no collateral under these contracts and no credit-risk-related contingent features were triggered as of December 30, 2023. | text | no | monetaryItemType | text: <entity> no </entity> <entity type> monetaryItemType </entity type> <context> 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 December 30, 2023 was $ 144 million. We have posted no collateral under these contracts and no credit-risk-related contingent features were triggered as of December 30, 2023. </context> | us-gaap:CollateralAlreadyPostedAggregateFairValue |
Our commodity derivatives had a total notional value of $ 1.7 billion as of December 30, 2023 and $ 1.8 billion as of December 31, 2022. | text | 1.7 | monetaryItemType | text: <entity> 1.7 </entity> <entity type> monetaryItemType </entity type> <context> Our commodity derivatives had a total notional value of $ 1.7 billion as of December 30, 2023 and $ 1.8 billion as of December 31, 2022. </context> | us-gaap:DerivativeNotionalAmount |
Our commodity derivatives had a total notional value of $ 1.7 billion as of December 30, 2023 and $ 1.8 billion as of December 31, 2022. | text | 1.8 | monetaryItemType | text: <entity> 1.8 </entity> <entity type> monetaryItemType </entity type> <context> Our commodity derivatives had a total notional value of $ 1.7 billion as of December 30, 2023 and $ 1.8 billion as of December 31, 2022. </context> | us-gaap:DerivativeNotionalAmount |
Our foreign currency derivatives had a total notional value of $ 3.8 billion as of December 30, 2023 and $ 3.0 billion as of December 31, 2022. The total notional amount of our debt instruments designated as net investment hedges was $ 3.0 billion as of December 30, 2023 and $ 2.9 billion as of December 31, 2022. For foreign currency derivatives that do not qualify for hedge accounting treatment, gains and losses were offset by changes in the underlying hedged items, resulting in no material net impact on earnings. | text | 3.8 | monetaryItemType | text: <entity> 3.8 </entity> <entity type> monetaryItemType </entity type> <context> Our foreign currency derivatives had a total notional value of $ 3.8 billion as of December 30, 2023 and $ 3.0 billion as of December 31, 2022. The total notional amount of our debt instruments designated as net investment hedges was $ 3.0 billion as of December 30, 2023 and $ 2.9 billion as of December 31, 2022. For foreign currency derivatives that do not qualify for hedge accounting treatment, gains and losses were offset by changes in the underlying hedged items, resulting in no material net impact on earnings. </context> | us-gaap:DerivativeNotionalAmount |
Our foreign currency derivatives had a total notional value of $ 3.8 billion as of December 30, 2023 and $ 3.0 billion as of December 31, 2022. The total notional amount of our debt instruments designated as net investment hedges was $ 3.0 billion as of December 30, 2023 and $ 2.9 billion as of December 31, 2022. For foreign currency derivatives that do not qualify for hedge accounting treatment, gains and losses were offset by changes in the underlying hedged items, resulting in no material net impact on earnings. | text | 3.0 | monetaryItemType | text: <entity> 3.0 </entity> <entity type> monetaryItemType </entity type> <context> Our foreign currency derivatives had a total notional value of $ 3.8 billion as of December 30, 2023 and $ 3.0 billion as of December 31, 2022. The total notional amount of our debt instruments designated as net investment hedges was $ 3.0 billion as of December 30, 2023 and $ 2.9 billion as of December 31, 2022. For foreign currency derivatives that do not qualify for hedge accounting treatment, gains and losses were offset by changes in the underlying hedged items, resulting in no material net impact on earnings. </context> | us-gaap:DerivativeNotionalAmount |
Our foreign currency derivatives had a total notional value of $ 3.8 billion as of December 30, 2023 and $ 3.0 billion as of December 31, 2022. The total notional amount of our debt instruments designated as net investment hedges was $ 3.0 billion as of December 30, 2023 and $ 2.9 billion as of December 31, 2022. For foreign currency derivatives that do not qualify for hedge accounting treatment, gains and losses were offset by changes in the underlying hedged items, resulting in no material net impact on earnings. | text | 2.9 | monetaryItemType | text: <entity> 2.9 </entity> <entity type> monetaryItemType </entity type> <context> Our foreign currency derivatives had a total notional value of $ 3.8 billion as of December 30, 2023 and $ 3.0 billion as of December 31, 2022. The total notional amount of our debt instruments designated as net investment hedges was $ 3.0 billion as of December 30, 2023 and $ 2.9 billion as of December 31, 2022. For foreign currency derivatives that do not qualify for hedge accounting treatment, gains and losses were offset by changes in the underlying hedged items, resulting in no material net impact on earnings. </context> | us-gaap:DerivativeNotionalAmount |
As of December 30, 2023, approximately 9 % of total debt was subject to variable rates, compared to approximately 1 %, after the impact of the related interest rate derivative instruments, as of December 31, 2022. | text | 9 | percentItemType | text: <entity> 9 </entity> <entity type> percentItemType </entity type> <context> As of December 30, 2023, approximately 9 % of total debt was subject to variable rates, compared to approximately 1 %, after the impact of the related interest rate derivative instruments, as of December 31, 2022. </context> | us-gaap:LongTermDebtPercentageBearingVariableInterestRate |
As of December 30, 2023, approximately 9 % of total debt was subject to variable rates, compared to approximately 1 %, after the impact of the related interest rate derivative instruments, as of December 31, 2022. | text | 1 | percentItemType | text: <entity> 1 </entity> <entity type> percentItemType </entity type> <context> As of December 30, 2023, approximately 9 % of total debt was subject to variable rates, compared to approximately 1 %, after the impact of the related interest rate derivative instruments, as of December 31, 2022. </context> | us-gaap:LongTermDebtPercentageBearingVariableInterestRate |
Investments in debt securities that we have the positive intent and ability to hold until maturity are classified as held-to-maturity. Highly liquid debt securities with original maturities of three months or less are recorded as cash equivalents. Our held-to-maturity debt securities consist of commercial paper. As of December 30, 2023, we had $ 309 million of investments in commercial paper recorded in cash and cash equivalents. As of December 31, 2022, we had no investments in held-to-maturity debt securities. Held-to-maturity debt securities are recorded at amortized cost, which approximates fair value, and realized gains or losses are reported in earnings. As of December 30, 2023, gross unrecognized gains and losses and the allowance for expected credit losses were not material . | text | 309 | monetaryItemType | text: <entity> 309 </entity> <entity type> monetaryItemType </entity type> <context> Investments in debt securities that we have the positive intent and ability to hold until maturity are classified as held-to-maturity. Highly liquid debt securities with original maturities of three months or less are recorded as cash equivalents. Our held-to-maturity debt securities consist of commercial paper. As of December 30, 2023, we had $ 309 million of investments in commercial paper recorded in cash and cash equivalents. As of December 31, 2022, we had no investments in held-to-maturity debt securities. Held-to-maturity debt securities are recorded at amortized cost, which approximates fair value, and realized gains or losses are reported in earnings. As of December 30, 2023, gross unrecognized gains and losses and the allowance for expected credit losses were not material . </context> | us-gaap:HeldToMaturitySecurities |
Investments in debt securities that we have the positive intent and ability to hold until maturity are classified as held-to-maturity. Highly liquid debt securities with original maturities of three months or less are recorded as cash equivalents. Our held-to-maturity debt securities consist of commercial paper. As of December 30, 2023, we had $ 309 million of investments in commercial paper recorded in cash and cash equivalents. As of December 31, 2022, we had no investments in held-to-maturity debt securities. Held-to-maturity debt securities are recorded at amortized cost, which approximates fair value, and realized gains or losses are reported in earnings. As of December 30, 2023, gross unrecognized gains and losses and the allowance for expected credit losses were not material . | text | no | monetaryItemType | text: <entity> no </entity> <entity type> monetaryItemType </entity type> <context> Investments in debt securities that we have the positive intent and ability to hold until maturity are classified as held-to-maturity. Highly liquid debt securities with original maturities of three months or less are recorded as cash equivalents. Our held-to-maturity debt securities consist of commercial paper. As of December 30, 2023, we had $ 309 million of investments in commercial paper recorded in cash and cash equivalents. As of December 31, 2022, we had no investments in held-to-maturity debt securities. Held-to-maturity debt securities are recorded at amortized cost, which approximates fair value, and realized gains or losses are reported in earnings. As of December 30, 2023, gross unrecognized gains and losses and the allowance for expected credit losses were not material . </context> | us-gaap:HeldToMaturitySecurities |
In 2022, we entered into an agreement with Celsius to distribute Celsius energy drinks in the United States (see Note 4 for further information) and invested $ 550 million in Series A convertible preferred shares issued by Celsius, which included certain conversion and redemption features. The preferred shares automatically convert into Celsius common shares after six years if certain market-based conditions are met, or can be redeemed after seven years. Shares underlying the transaction were priced at $ 75 per share, and the preferred shares are entitled to a 5 % annual dividend, payable either in cash or in-kind. Given our redemption right, we classified our investment in the convertible preferred stock as an available-for-sale debt security. As of December 31, 2022, the fair value of this investment was classified as Level 2, based primarily on the transaction price. There were no unrealized gains and losses on our investment in the year ended December 31, 2022. In the year ended December 30, 2023, we transferred $ 558 million from Level 2 to Level 3 as unobservable inputs to the fair value became more significant and subsequently recorded an unrealized gain of $ 612 million in other comprehensive income and a decrease in the investment of $ 14 million due to cash dividends received. There were no impairment charges related to our investment in the years ended December 30, 2023 and December 31, 2022. | text | 550 | monetaryItemType | text: <entity> 550 </entity> <entity type> monetaryItemType </entity type> <context> In 2022, we entered into an agreement with Celsius to distribute Celsius energy drinks in the United States (see Note 4 for further information) and invested $ 550 million in Series A convertible preferred shares issued by Celsius, which included certain conversion and redemption features. The preferred shares automatically convert into Celsius common shares after six years if certain market-based conditions are met, or can be redeemed after seven years. Shares underlying the transaction were priced at $ 75 per share, and the preferred shares are entitled to a 5 % annual dividend, payable either in cash or in-kind. Given our redemption right, we classified our investment in the convertible preferred stock as an available-for-sale debt security. As of December 31, 2022, the fair value of this investment was classified as Level 2, based primarily on the transaction price. There were no unrealized gains and losses on our investment in the year ended December 31, 2022. In the year ended December 30, 2023, we transferred $ 558 million from Level 2 to Level 3 as unobservable inputs to the fair value became more significant and subsequently recorded an unrealized gain of $ 612 million in other comprehensive income and a decrease in the investment of $ 14 million due to cash dividends received. There were no impairment charges related to our investment in the years ended December 30, 2023 and December 31, 2022. </context> | us-gaap:PaymentsToAcquireAvailableForSaleSecuritiesDebt |
In 2022, we entered into an agreement with Celsius to distribute Celsius energy drinks in the United States (see Note 4 for further information) and invested $ 550 million in Series A convertible preferred shares issued by Celsius, which included certain conversion and redemption features. The preferred shares automatically convert into Celsius common shares after six years if certain market-based conditions are met, or can be redeemed after seven years. Shares underlying the transaction were priced at $ 75 per share, and the preferred shares are entitled to a 5 % annual dividend, payable either in cash or in-kind. Given our redemption right, we classified our investment in the convertible preferred stock as an available-for-sale debt security. As of December 31, 2022, the fair value of this investment was classified as Level 2, based primarily on the transaction price. There were no unrealized gains and losses on our investment in the year ended December 31, 2022. In the year ended December 30, 2023, we transferred $ 558 million from Level 2 to Level 3 as unobservable inputs to the fair value became more significant and subsequently recorded an unrealized gain of $ 612 million in other comprehensive income and a decrease in the investment of $ 14 million due to cash dividends received. There were no impairment charges related to our investment in the years ended December 30, 2023 and December 31, 2022. | text | 75 | perShareItemType | text: <entity> 75 </entity> <entity type> perShareItemType </entity type> <context> In 2022, we entered into an agreement with Celsius to distribute Celsius energy drinks in the United States (see Note 4 for further information) and invested $ 550 million in Series A convertible preferred shares issued by Celsius, which included certain conversion and redemption features. The preferred shares automatically convert into Celsius common shares after six years if certain market-based conditions are met, or can be redeemed after seven years. Shares underlying the transaction were priced at $ 75 per share, and the preferred shares are entitled to a 5 % annual dividend, payable either in cash or in-kind. Given our redemption right, we classified our investment in the convertible preferred stock as an available-for-sale debt security. As of December 31, 2022, the fair value of this investment was classified as Level 2, based primarily on the transaction price. There were no unrealized gains and losses on our investment in the year ended December 31, 2022. In the year ended December 30, 2023, we transferred $ 558 million from Level 2 to Level 3 as unobservable inputs to the fair value became more significant and subsequently recorded an unrealized gain of $ 612 million in other comprehensive income and a decrease in the investment of $ 14 million due to cash dividends received. There were no impairment charges related to our investment in the years ended December 30, 2023 and December 31, 2022. </context> | us-gaap:PreferredStockConvertibleConversionPrice |
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