ペプシコの四半期報告

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

(Mark One)


☒			1934年米国証券取引所法（securities exchange act of 1934）第13条または第15条(d)に基づく四半期報告書

2025年6月14日に終了した四半期（24週）について


☐			1934年米国証券取引所法（securities exchange act of 1934）第13条または第15条（d）に基づく移行報告書

からの移行期間

Commission file number 1-1183


PepsiCo, Inc.

(登録者の正確な名称)



ノースカロライナ						13-1584302
(法人または組織の州またはその他の管轄区域)						(I.R.S. EmployerIdentification No.)

10577ニューヨーク州パーチェイス市アンダーソン・ヒル・ロード700番地


(最高経営責任者の住所と郵便番号)

(914) 253-2000


登録者の電話番号（市外局番を含む

N/A


(前回の報告書以降に変更があった場合、旧名称、旧住所、旧会計年度)

1934年証券取引所法第12条(b)に基づき登録された証券：

Title of each class

Trading Symbols

登録されている各取引所の名称

普通株式、額面は1株あたり1～2/3セント

PEP

the nasdaq stock market llc

2.625% 2026年満期シニア・ノート

PEP26

the nasdaq stock market llc

0.750% 2027年満期シニアノート

PEP27

the nasdaq stock market llc

0.875% 2028年満期シニアノート

PEP28

the nasdaq stock market llc

0.500% 2028年満期シニアノート

PEP28A

the nasdaq stock market llc

3.200% 2029年満期シニアノート

PEP29

the nasdaq stock market llc

1.125% 2031年満期シニアノート

PEP31

the nasdaq stock market llc

0.400% 2032年満期シニアノート

PEP32

the nasdaq stock market llc

0.750% 2033年満期シニアノート

PEP33

the nasdaq stock market llc

2034年満期 3.550% シニアノート

PEP34

the nasdaq stock market llc

0.875% 2039年満期シニアノート

PEP39

the nasdaq stock market llc

1.050% 2050年満期シニアノート

PEP50

the nasdaq stock market llc

(1)1934年証券取引法第13条または第15条(d)により提出が義務付けられているすべての報告書を過去12ヶ月間(または登録者が当該報告書の提出を義務付けられていたより短い期間)提出したかどうか、および(2)過去90日間当該提出義務の対象であったかどうかをチェックマークで示す。はい ☒ いいえ ¨.

登録者が過去12ヶ月間（または登録者がそのようなファイルを提出する必要があったより短い期間）、レギュレーションS-Tのルール405（本章の§232.405）に従って提出が義務付けられているすべてのインタラクティブ・データ・ファイルを電子的に提出したかどうかをチェックマークで示す。はい ☒ いいえ

登録者が大規模加速ファイラー、加速ファイラー、非加速ファイラー、小規模報告企業、新興成長企業のいずれであるかをチェックマークで示す。取引所法の規則12b-2における「大型加速度フィラー」、「加速度フィラー」、「小規模報告企業」、「新興成長企業」の定義を参照のこと。


Large accelerated filer	☒	Accelerated filer	☐
Non-accelerated filer	☐	Smaller reporting company	☐
		Emerging growth company	☐

新興成長企業の場合、登録者が取引所法第13条(a)に従い提供される新規または改訂された財務会計基準に準拠するための延長された移行期間を使用しないことを選択した場合は、チェックマークで示す。¨

登録者がシェル会社（取引所法の規則12b-2で定義）であるかどうかをチェックマークで示す。はい ☐ いいえ ⛩ 12

2025年7月10日現在の発行済普通株式数は1,369,077,204株。


		Page No.
Part I Financial Information
Item 1.	Condensed Consolidated Financial Statements	2
	要約四半期連結損益計算書 12 and 24 Weeks Ended June 1 4 , 2025 and June 1 5 , 2024	2
	要約四半期連結包括利益計算書 - （単位：百万ドル 12 and 24 Weeks Ended June 1 4 , 2025 and June 1 5 , 2024	3
	要約連結キャッシュ・フロー計算書 24 Weeks Ended June 1 4 , 2025 and June 1 5 , 2024	4
	要約連結貸借対照表 June 14 , 2025年および2024年12月28日	6
	要約連結資本勘定計算書 12 and 24 Weeks Ended June 14 , 2025 and June 15 , 2024	7
	要約連結財務諸表注記	8
Item 2.	財政状態および経営成績に関する経営陣の検討および分析	27
独立登録監査法人の報告書		46
Item 3.	市場リスクに関する定量的・定性的開示	47
Item 4.	管理と手続き	47
Part II Other Information
Item 1.	法的手続き	48
Item 1A.	リスク要因	48
Item 2.	登録されていない持分証券の売却および売却代金の使用	49
Item 5.	その他の情報	49
Item 6.	展示品	49


	12 Weeks Ended				24 Weeks Ended
	6/14/2025		6/15/2024		6/14/2025		6/15/2024
純収益	$	22,726	$	22,501	$	40,645	$	40,751
売上原価	10,304		9,919		18,230		18,167
売上総利益	12,422		12,582		22,415		22,584
販売費及び一般管理費	8,773		8,534		16,183		15,819

無形固定資産の減損（注記1および4をご参照ください。)	1,860		—		1,860		—
Operating Profit	1,789		4,048		4,372		6,765
その他の年金および退職者医療給付収入	42		56		65		114
純支払利息およびその他	(260)		(234)		(524)		(436)
税引前利益	1,571		3,870		3,913		6,443
法人税等の支払額	292		776		791		1,296
純利益	1,279		3,094		3,122		5,147
控除する非支配持分に帰属する純利益	16		11		25		22
ペプシコ社に帰属する当期純利益	$	1,263	$	3,083	$	3,097	$	5,125
普通株式1株当たり当社株主に帰属する当期純利益
基本	$	0.92	$	2.24	$	2.26	3.73
希薄化後	$	0.92	$	2.23	$	2.25	3.71
Weighted-average common shares outstanding
基本	1,371		1,375		1,371		1,375
希薄化後	1,373		1,379		1,374		1,380


	(未監査)
	6/14/2025		12/28/2024
資産
流動資産
現金および現金同等物	$	7,631	$	8,505
短期投資	342		761
売掛金および受取手形、引当金控除後（それぞれ231ドルおよび356ドル)	12,390		10,333
棚卸資産:
Raw materials and packaging	2,940		2,440
Work-in-process	135		104
完成品	3,412		2,762
	6,487		5,306
前払費用およびその他の流動資産	1,360		921
流動資産合計	28,210		25,826
有形固定資産	58,469		56,005
Accumulated depreciation	(29,672)		(27,997)
有形固定資産（純額	28,797		28,008
償却可能な無形固定資産（純額	1,311		1,102
営業権	18,952		17,534
Other Indefinite-Lived Intangible Assets	14,212		13,699

Investments in Noncontrolled Affiliates	2,061		1,985
法人税等調整額	4,293		4,362
その他の資産	7,509		6,951
資産合計	$	105,345	$	99,467

負債および資本
現在の負債
Short-term debt obligations	$	12,056	$	7,082
買掛金およびその他の流動負債	24,340		24,454
流動負債合計	36,396		31,536
Long-Term Debt Obligations	39,328		37,224
法人税等調整額	3,102		3,484
その他の負債	7,960		9,052
負債合計	86,786		81,296
コミットメントおよび偶発事象
PepsiCo Common Shareholders’ Equity
普通株式、額面1株当たり12/3¢（授権株式数3,600株、額面買い戻し控除後の発行済株式数：それぞれ1,370株および1,372株)	23		23
額面超過資本金	4,299		4,385
利益剰余金	71,547		72,266
その他の包括損失累計額	(16,090)		(17,612)
額面超過の普通株式の買戻し（それぞれ496株および495株)	(41,361)		(41,021)
ペプシコ社普通株式株主資本合計	18,418		18,041
非支配持分	141		130
資本合計	18,559		18,171
負債及び資本合計	$	105,345	$	99,467


	12 Weeks Ended				24 Weeks Ended
	6/14/2025		6/15/2024		6/14/2025		6/15/2024
純利益	$	1,279	$	3,094	$	3,122	$	5,147
その他の包括利益／（損失）、税引後:
Net currency translation adjustment	961		(267)		1,397		(449)
キャッシュフロー・ヘッジの純変動	(18)		42		4		45
純年金および退職者医療調整額	(19)		9		(9)		20

売却可能負債証券およびその他の純増減	64		(391)		130		132
その他の包括利益（損失）合計、税引後	988		(607)		1,522		(252)
Comprehensive income	2,267		2,487		4,644		4,895
控除後非支配持分に帰属する包括的利益	16		11		25		22
ペプシコ社に帰属する包括利益	$	2,251	$	2,476	$	4,619	$	4,873


	24 Weeks Ended
	6/14/2025		6/15/2024
営業活動
純利益	$	3,122	$	5,147
減価償却費および償却費	1,491		1,379
減損およびその他の費用	1,860		—

Product recall-related impact	—		182
製品リコール関連の影響に対する現金支払い	(2)		(135)
オペレーティング・リース使用権資産償却	315		278
株式ベースの報酬費用	131		183
構造改革費用および減損費用	426		170
構造改革費用の支払額	(387)		(173)


年金および退職者医療制度費用	99		67
年金および退職者医療制度への拠出	(354)		(263)
繰延税金およびその他の税金費用・債権	(260)		142

減税・雇用法（tcj法）に関連する税金の支払い)	(772)		(579)
資産および負債の変動:
Accounts and notes receivable	(1,582)		(1,138)
棚卸資産	(800)		(696)
前払費用およびその他の流動資産	(354)		(365)
買掛金およびその他の流動負債	(2,083)		(2,968)
未払法人税等	415		287
その他（純額	(269)		(203)
営業活動によるキャッシュ・フロー	996		1,315

投資活動
Capital spending	(1,507)		(1,701)
有形固定資産売却益	169		127
買収（取得現金控除後）、非支配持分への投資および無形固定資産とその他資産の購入。	(3,130)		(30)
事業分離、非支配関連会社への投資およびその他の資産の売却	5		135
短期投資（当初満期別:

3ヶ月超 - 満期	425		—

3ヶ月以下の期間、純	22		1


	24 Weeks Ended
	6/14/2025		6/15/2024
財務活動
長期債務の発行による収入	$	3,521	$	1,765
Payments of long-term debt	(2,543)		(2,882)

短期借入金（償還期限別:
3ヶ月以上 - 収益	5,251		3,080
3ヶ月以上 - 支払い	(2,492)		(2,138)
3ヶ月以下の期間、純	2,438		1,286
Cash dividends paid	(3,743)		(3,506)
Share repurchases	(494)		(461)
ストックオプションの行使による収入	58		107
転換されたリストリクテッド・ストック・ユニット（rsu）およびパフォーマンス・ストック・ユニット（psu）に対する源泉徴収税の支払額	(111)		(131)
Other financing	(17)		(20)
財務活動から得た（使用した）現金および現金同等物	1,868		(2,900)
現金・現金同等物および制限付き現金に対する為替レート変動の影響	422		(304)
現金・現金同等物および制限付き現金の純減	(841)		(3,343)
現金・現金同等物および制限付き現金（期首	8,553		9,761
現金・現金同等物および制限付き現金の期末残高	$	7,712	$	6,418

Supplemental Non-Cash Activity
リース債務と引き換えに取得した使用権資産	$	329	$	541