v3.26.1
Accumulated Other Comprehensive Loss Attributable to PepsiCo
 3 Months Ended
Mar. 21, 2026
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Loss Attributable to PepsiCo Accumulated Other Comprehensive Loss Attributable to PepsiCo
The changes in the balances of each component of accumulated other comprehensive loss attributable to PepsiCo are as follows:
Currency Translation AdjustmentCash Flow HedgesPension and Retiree Medical
Available-for-Sale Debt Securities and Other(a)
Accumulated Other Comprehensive Loss Attributable to PepsiCo
Balance as of December 27, 2025 (b)
$(13,494)$126 $(2,262)$606 $(15,024)
Other comprehensive income/(loss) before
reclassifications (c)
757 108 (10)(129)726 
Amounts reclassified from accumulated other comprehensive loss— (37)19 — (18)
Net other comprehensive income/(loss)757 71 9 (129)708 
Tax amounts(38)(16)(3)31 (26)
Balance as of March 21, 2026 (b)
$(12,775)$181 $(2,256)$508 $(14,342)
(a)The movements primarily represent fair value changes in available-for-sale debt securities, including our investment in Celsius convertible preferred stock. See Note 8 for further information.
(b)Pension and retiree medical amounts are net of taxes of $1,138 million as of December 27, 2025 and $1,135 million as of March 21, 2026.
(c)Currency translation adjustment primarily reflects appreciation of the euro, Mexican peso and Russian ruble.

Currency Translation AdjustmentCash Flow HedgesPension and Retiree Medical
Available-for-Sale Debt Securities and Other(a)
Accumulated Other Comprehensive Loss Attributable
to PepsiCo
Balance as of December 28, 2024 (b)
$(15,217)$82 $(2,714)$237 $(17,612)
Other comprehensive income/(loss) before reclassifications (c)
410 58 (4)87 551 
Amounts reclassified from accumulated other comprehensive loss— (31)17 — (14)
Net other comprehensive income410 27 13 87 537 
Tax amounts26 (5)(3)(21)(3)
Balance as of March 22, 2025 (b)
$(14,781)$104 $(2,704)$303 $(17,078)
(a)The movements primarily represent fair value changes in available-for-sale debt securities, including our investment in Celsius convertible preferred stock. See Note 8 for further information.
(b)Pension and retiree medical amounts are net of taxes of $1,282 million as of December 28, 2024 and $1,279 million as of March 22, 2025.
(c)Currency translation adjustment primarily reflects appreciation of the Russian ruble and depreciation of the euro.
The reclassifications from accumulated other comprehensive loss to the income statement are summarized as follows:
12 Weeks Ended
3/21/20263/22/2025Affected Line Item in the Income Statement
Cash flow hedges:
Foreign exchange contracts
$14 $(16)Cost of sales
Cross-currency contracts10 (21)Selling, general and administrative expenses
Commodity contracts(59)5 Cost of sales
Commodity contracts(2)1 
Selling, general and administrative expenses
Net gains before tax(37)(31)
Tax amounts
8 9 
Net gains after tax(29)(22)
Pension and retiree medical items:
Amortization of net prior service cost1 — Other pension and retiree medical benefits income
Amortization of net losses18 17 Other pension and retiree medical benefits income
Net losses before tax19 17 
Tax amounts
(4)(4)
Net losses after tax15 13 
Total net gains reclassified, net of tax$(14)$(9)