$KDP

Dr Pepper Snapple Group, Inc.

CIK:0001418135|SEC Filings

Condensed Consolidated Statements of Income - USD ($)	3 Months Ended		6 Months Ended
Condensed Consolidated Statements of Income - USD ($)	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net sales	$ 7,309,000,000	$ 4,163,000,000	$ 11,285,000,000	$ 7,798,000,000
Cost of sales	4,243,000,000	1,908,000,000	6,121,000,000	3,558,000,000
Gross profit	3,066,000,000	2,255,000,000	5,164,000,000	4,240,000,000
Selling, general, and administrative expenses	2,397,000,000	1,356,000,000	3,739,000,000	2,548,000,000
Other operating expense (income), net	41,000,000	1,000,000	41,000,000	(7,000,000)
Income from operations	628,000,000	898,000,000	1,384,000,000	1,699,000,000
Interest expense, net	336,000,000	180,000,000	617,000,000	328,000,000
Other (income) expense, net	(13,000,000)	0	105,000,000	(7,000,000)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total	305,000,000	718,000,000	662,000,000	1,378,000,000
Provision for income taxes	95,000,000	171,000,000	182,000,000	314,000,000
Net income	210,000,000	547,000,000	480,000,000	1,064,000,000
Net Income (Loss) Attributable to Noncontrolling Interest	68,000,000	0	68,000,000	0
Net income attributable to KDP	$ 142,000,000	$ 547,000,000	$ 412,000,000	$ 1,064,000,000
Earnings per common share:
Basic (in dollars per share)	$ 0.04	$ 0.40	$ 0.24	$ 0.78
Diluted (in dollars per share)	$ 0.04	$ 0.40	$ 0.24	$ 0.78
Weighted average common shares outstanding:
Basic (in shares)	1,360,600,000	1,358,300,000	1,359,900,000	1,357,700,000
Diluted (in shares)	1,364,500,000	1,362,800,000	1,364,200,000	1,362,600,000

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities:
Net income	$ 480	$ 1,064
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation expense	322	217
Amortization of intangibles	161	68
Amortization of inventory step-up	314	15
Other amortization expense	82	63
Provision for sales returns	67	24
Deferred income taxes	(22)	4
Employee stock-based compensation expense	62	45
Amortization of Debt Issuance Costs	109	6
Loss (gain) on disposal of property, plant, and equipment	10	(6)
Unrealized gain on foreign currency	(48)	6
Unrealized gain on derivatives	(171)	(56)
Settlements of interest rate contracts	70	0
Earnings of equity method investments	40	27
Earned equity from distribution arrangements	8	10
Other, net	10	(11)
Changes in assets and liabilities, excluding the effects of business acquisitions:
Trade accounts receivable	50	3
Inventories	133	(431)
Income taxes receivable and payable, net	15	(86)
Other current and non-current assets	(324)	(136)
Accounts payable and accrued expenses	(88)	(93)
Other current and non-current liabilities	(104)	(7)
Net change in operating assets and liabilities	(318)	(750)
Net cash provided by operating activities	1,176	640
Investing activities:
Acquisitions of businesses, net of cash acquired	16,615	111
Purchases of property, plant, and equipment	(297)	(226)
Proceeds from sales of property, plant, and equipment	19	13
Purchases of intangibles	(4)	(16)
Other, net	(2)	62
Net cash used in investing activities	(16,899)	(278)
Financing activities:
Proceeds from Issuance of Senior Long-Term Debt	6,108	2,000
Repayments of Senior Debt	0	529
Net repayment of commercial paper	(232)	(139)
Proceeds from delayed draw term loan	3,626	0
Repayment of term loan	(405)	(990)
Proceeds from Issuance of Convertible Preferred Stock	4,395	0
Proceeds from Noncontrolling Interests	3,899	0
Proceeds from structured payables	333	16
Repayments of structured payables	(343)	(26)
Payments of Ordinary Dividends, Common Stock	624	625
Payments of Ordinary Dividends, Preferred Stock and Preference Stock	(54)	0
Payments for Repurchase of Common Stock	0	9
Tax withholdings related to net share settlements	(31)	(28)
Payments on finance leases	(77)	(63)
Deferred financing charges paid	(44)	(12)
Other, net	(5)	(4)
Cash Provided by (Used in) Financing Activity, Including Discontinued Operation, Total	16,546	(409)
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Period Increase (Decrease), Excluding Exchange Rate Effect, Including Discontinued Operation, Total	823	(47)
Effect of Exchange Rate on Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation	(314)	4
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation, Beginning Balance	1,044	608
Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation, Ending Balance	1,553	565
Accrued consideration to untendered shareholders in the JDE Peet's Acquisition	402	0
Capital Expenditures Incurred but Not yet Paid	207	155
Interest Paid, Excluding Capitalized Interest, Operating Activity	349	277
Common Stock Issued
Dividends Payable	314	312
Redeemable Convertible Preferred Stock
Dividends Payable	$ 28	$ 0

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 1,517,000,000	$ 1,026,000,000
Restricted cash and restricted cash equivalents	36,000,000	18,000,000
Trade accounts receivable, net	2,423,000,000	1,671,000,000
Inventories	3,857,000,000	1,733,000,000
Prepaid expenses and other current assets	1,628,000,000	818,000,000
Total current assets	9,461,000,000	5,266,000,000
Property, plant, and equipment, net	6,323,000,000	3,230,000,000
Equity method investments	1,733,000,000	1,660,000,000
Goodwill	29,760,000,000	20,247,000,000
Intangible assets, net	38,113,000,000	23,725,000,000
Deferred tax assets	192,000,000	36,000,000
Other non-current assets	2,037,000,000	1,295,000,000
Total assets	87,619,000,000	55,459,000,000
Current liabilities:
Accounts payable	6,293,000,000	2,996,000,000
Accrued expenses	2,430,000,000	1,379,000,000
Structured payables	1,018,000,000	25,000,000
Short-term borrowings and current portion of long-term obligations	8,394,000,000	3,105,000,000
Other current liabilities	1,604,000,000	785,000,000
Total current liabilities	19,739,000,000	8,290,000,000
Long-term obligations	21,586,000,000	13,036,000,000
Deferred tax liabilities	8,936,000,000	5,526,000,000
Other non-current liabilities	3,712,000,000	3,091,000,000
Total liabilities	53,973,000,000	29,943,000,000
Temporary Equity [Abstract]
Temporary Equity, Carrying Amount, Attributable to Parent	$ 4,418,000,000	$ 0
Equity, Attributable to Parent [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred Stock, Value, Issued	$ 0	$ 0
Common Stock, Value, Issued	14,000,000	14,000,000
Additional paid-in capital	19,808,000,000	19,778,000,000
Retained earnings	5,326,000,000	5,622,000,000
Accumulated other comprehensive (loss) income	(116,000,000)	102,000,000
Total stockholders' equity	25,032,000,000	25,516,000,000
Non-controlling interests	4,196,000,000	0
Total equity	29,228,000,000	25,516,000,000
Total liabilities, convertible preferred stock, and equity	$ 87,619,000,000	$ 55,459,000,000
Temporary Equity, Shares Authorized	4,500,000