Document and Entity Information
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6 Months Ended | |
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Jun. 13, 2015
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Jul. 02, 2015
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Document Documentand Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 13, 2015 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | PEP | |
Entity Registrant Name | PEPSICO INC | |
Entity Central Index Key | 0000077476 | |
Current Fiscal Year End Date | --12-26 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 1,468,993,138 |
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End date of current fiscal year in the format --MM-DD. No definition available.
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This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
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A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Trading symbol of an instrument as listed on an exchange. No definition available.
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CONDENSED CONSOLIDATED STATEMENT OF INCOME (USD $)
In Millions, except Per Share data, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||||||||
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Jun. 13, 2015
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Jun. 14, 2014
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Jun. 13, 2015
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Jun. 14, 2014
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Net Revenue | $ 15,923 | $ 16,894 | $ 28,140 | $ 29,517 | ||||||
Cost of sales | 7,167 | 7,778 | 12,609 | 13,525 | ||||||
Gross Profit | 8,756 | 9,116 | 15,531 | 15,992 | ||||||
Selling, general and administrative expenses | 5,837 | 6,198 | 10,799 | 11,246 | ||||||
Amortization of intangible assets | 19 | 22 | 35 | 43 | ||||||
Operating Profit | 2,900 | 2,896 | 4,697 | 4,703 | ||||||
Interest expense | (217) | (209) | (428) | (410) | ||||||
Interest income and other | 14 | 18 | 29 | 28 | ||||||
Income before income taxes | 2,697 | 2,705 | 4,298 | 4,321 | ||||||
Provision for income taxes | 703 | 718 | 1,073 | 1,107 | ||||||
Net income | 1,994 | 1,987 | 3,225 | 3,214 | ||||||
Less: Net income attributable to noncontrolling interests | 14 | 9 | 24 | 20 | ||||||
Net Income (Loss) Attributable to Parent | $ 1,980 | $ 1,978 | $ 3,201 | $ 3,194 | ||||||
Net Income Attributable to PepsiCo per Common Share | ||||||||||
Basic | $ 1.34 | $ 1.30 | $ 2.16 | $ 2.10 | ||||||
Diluted net income attributable to PepsiCo per common share (in dollars per share) | $ 1.33 | $ 1.29 | $ 2.14 | $ 2.08 | ||||||
Weighted-average common shares outstanding | ||||||||||
Basic | 1,476 | [1] | 1,515 | [1] | 1,480 | [1] | 1,519 | [1] | ||
Diluted | 1,491 | [1] | 1,532 | [1] | 1,497 | [1] | 1,536 | [1] | ||
Cash dividends declared per common share | $ 0.7025 | $ 0.655 | $ 1.3575 | $ 1.2225 | ||||||
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CONDENSED CONSOLIDATED BALANCE SHEET (Parenthetical) (USD $)
In Millions, except Per Share data, unless otherwise specified |
Jun. 13, 2015
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Dec. 27, 2014
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Accounts and notes receivable, allowance | $ 150 | $ 137 |
Preferred Stock, no par value | ||
Common stock, Par value | $ 0.0167 | $ 0.0167 |
Common stock, Authorized | 3,600 | 3,600 |
Common stock, Issued | 1,472 | 1,488 |
Repurchased common stock, shares | 394 | 378 |
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Basis of Presentation
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Jun. 13, 2015
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Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Basis of Presentation and Our Divisions Basis of Presentation When used in this report, the terms “we,” “us,” “our,” “PepsiCo” and the “Company” mean PepsiCo, Inc. and its consolidated subsidiaries, collectively. Our Condensed Consolidated Balance Sheet as of June 13, 2015 and Condensed Consolidated Statements of Income and Comprehensive Income for the 12 and 24 weeks ended June 13, 2015 and June 14, 2014, and the Condensed Consolidated Statements of Cash Flows and Equity for the 24 weeks ended June 13, 2015 and June 14, 2014 have not been audited. These statements have been prepared on a basis that is substantially consistent with the accounting principles applied in our Annual Report on Form 10-K for the fiscal year ended December 27, 2014. In our opinion, these financial statements include all normal and recurring adjustments necessary for a fair presentation. The results for the 12 and 24 weeks are not necessarily indicative of the results expected for the full year. The results of our Venezuelan businesses have been reported under highly inflationary accounting since the beginning of 2010. See further unaudited information in “Our Business Risks” and “Our Liquidity and Capital Resources” in Management’s Discussion and Analysis of Financial Condition and Results of Operations. While our results in the United States and Canada (North America) are reported on a 12-week basis, most of our international operations report on a monthly calendar basis for which the months of March, April and May are reflected in our second quarter results. Our significant interim accounting policies include the recognition of a pro rata share of certain estimated annual sales incentives and certain advertising and marketing costs in proportion to revenue or volume, as applicable, and the recognition of income taxes using an estimated annual effective tax rate. Raw materials, direct labor and plant overhead, as well as purchasing and receiving costs, costs directly related to production planning, inspection costs and raw material handling facilities, are included in cost of sales. The costs of moving, storing and delivering finished product are included in selling, general and administrative expenses. The following information is unaudited. Tabular dollars are in millions, except per share amounts. All per share amounts reflect common per share amounts, assume dilution unless otherwise noted, and are based on unrounded amounts. This report should be read in conjunction with our Annual Report on Form 10-K for the fiscal year ended December 27, 2014. Our Divisions We are organized into six reportable segments (also referred to as divisions), as follows:
Net revenue and operating profit of each division are as follows:
Total assets of each division are as follows:
Changes to Organizational Structure The division amounts and discussions included in this Form 10-Q reflect the reportable segments that existed through the end of our second quarter of 2015. Effective beginning with our third quarter of 2015, we realigned certain of our reportable segments to be consistent with certain changes to our organizational structure and how the Chief Executive Officer will monitor the performance of these segments. As a result, all of our beverage, food and snack businesses in Latin America will be reported together as Latin America and our North American beverage business will be reported separately as North America Beverages. Prior to this change, the PepsiCo Americas Beverages segment included all of our North American and Latin American beverage businesses. In addition, our PepsiCo Europe reportable segment will now also include our businesses in the Sub-Saharan Africa markets that were formerly part of PepsiCo Asia, Middle East and Africa and will be renamed Europe Sub-Saharan Africa (ESSA). PepsiCo Asia, Middle East and Africa will be renamed Asia, Middle East and North Africa (AMENA). These changes do not impact our Frito-Lay North America or Quaker Foods North America reportable segments. Our historical segment reporting will be retrospectively revised during the remainder of 2015 to reflect the new organizational structure. For additional information, see Part II - Other Information. |
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Recent Accounting Pronouncements
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New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In April 2015, the Financial Accounting Standards Board (FASB) issued new accounting guidance intended to simplify the presentation of debt issuance costs. The guidance requires that debt issuance costs related to a recognized debt liability be presented on the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with the presentation for debt discounts. The guidance is effective as of the beginning of our 2016 fiscal year and must be applied on a retrospective basis with early adoption permitted. We early adopted the provisions of this guidance as of the beginning of our second quarter of 2015 and it did not have a material impact on our financial statements. In June 2014, the FASB issued new accounting guidance for share-based payments when the terms of an award provide that a performance target could be achieved after the requisite service period. The guidance requires that a performance target that could be achieved after the requisite service period is treated as a performance condition that affects the vesting of the award rather than factored into the grant date fair value. The guidance is effective as of the beginning of our 2016 fiscal year and can be applied prospectively to all share-based payments granted or modified on or after the effective date with early adoption permissible. This guidance is not expected to have any impact on our financial statements and we have not early adopted this standard. In May 2014, the FASB issued new accounting guidance on revenue recognition, which provides for a single five-step model to be applied to all revenue contracts with customers. The new standard also requires additional financial statement disclosures that will enable users to understand the nature, amount, timing and uncertainty of revenue and cash flows relating to customer contracts. Companies have an option to use either a retrospective approach or cumulative effect adjustment approach to implement the standard. There is no option for early adoption. In April 2015, the FASB proposed a one-year deferral of the effective date of the new revenue standard. Under the proposal, the new guidance will be effective as of the beginning of our 2018 fiscal year. We are currently evaluating the impact of the new guidance on our financial statements and have not yet selected a transition approach to implement the standard. |
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Restructuring, Impairment and Integration Charges
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Restructuring and Related Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring, Impairment and Integration Charges | Restructuring, Impairment and Integration Charges 2014 Multi-Year Productivity Plan The multi-year productivity plan we publicly announced on February 13, 2014 (2014 Productivity Plan) includes the next generation of productivity initiatives that we believe will strengthen our food, snack and beverage businesses by: accelerating our investment in manufacturing automation; further optimizing our global manufacturing footprint, including closing certain manufacturing facilities; re-engineering our go-to-market systems in developed markets; expanding shared services; and implementing simplified organization structures to drive efficiency. The 2014 Productivity Plan is in addition to the productivity plan we began implementing in 2012 and is expected to continue the benefits of that plan. In the 12 weeks ended June 13, 2015 and June 14, 2014, we incurred restructuring charges of $21 million ($16 million after-tax or $0.01 per share) and $77 million ($55 million after-tax or $0.04 per share), respectively, in conjunction with our 2014 Productivity Plan. In the 24 weeks ended June 13, 2015 and June 14, 2014, we incurred restructuring charges of $51 million ($39 million after-tax or $0.03 per share) and $173 million ($128 million after-tax or $0.08 per share), respectively, in conjunction with our 2014 Productivity Plan. All of these net charges were recorded in selling, general and administrative expenses and primarily relate to severance and other employee-related costs, asset impairments (all non-cash) and contract termination costs. The majority of the restructuring accrual at June 13, 2015 is expected to be paid by the end of 2015. A summary of our 2014 Productivity Plan charges is as follows:
A summary of our 2014 Productivity Plan activity in 2015 is as follows:
2012 Multi-Year Productivity Plan The multi-year productivity plan we publicly announced on February 9, 2012 (2012 Productivity Plan) includes actions in every aspect of our business that we believe will strengthen our complementary food, snack and beverage businesses by: leveraging new technologies and processes across PepsiCo’s operations, go-to-market and information systems; heightening the focus on best practice sharing across the globe; consolidating manufacturing, warehouse and sales facilities; and implementing simplified organization structures, with wider spans of control and fewer layers of management. The 2012 Productivity Plan continues to enhance PepsiCo’s cost-competitiveness and provide a source of funding for future brand-building and innovation initiatives. In the 12 weeks ended June 13, 2015 and June 14, 2014, we incurred restructuring charges of $4 million ($3 million after-tax with a nominal amount per share) and $15 million ($14 million after-tax or $0.01 per share), respectively, in conjunction with our 2012 Productivity Plan. In the 24 weeks ended June 13, 2015 and June 14, 2014, we incurred restructuring charges of $10 million ($9 million after-tax or $0.01 per share) and $17 million ($17 million after-tax or $0.01 per share), respectively, in conjunction with our 2012 Productivity Plan. All of these net charges were recorded in selling, general and administrative expenses and primarily relate to severance and other employee-related costs and contract termination costs. All of the restructuring accrual at June 13, 2015 is expected to be paid by the end of 2015. A summary of our 2012 Productivity Plan charges is as follows:
A summary of our 2012 Productivity Plan activity in 2015 is as follows:
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Intangible Assets
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Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Intangible Assets | Intangible Assets A summary of our amortizable intangible assets is as follows:
The change in the book value of nonamortizable intangible assets is as follows:
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Income Taxes | Income Taxes A rollforward of our reserves for all federal, state and foreign tax jurisdictions is as follows:
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Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock-Based Compensation | Stock-Based Compensation The following table summarizes our total stock-based compensation expense:
Our weighted-average Black-Scholes fair value assumptions are as follows:
For the 12 weeks ended June 13, 2015 and June 14, 2014, our grants of stock options, restricted stock units (RSUs), performance stock units (PSUs) and PepsiCo equity performance units (PEPunits) were nominal. The following table summarizes awards granted under the terms of our 2007 Long-Term Incentive Plan:
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Pension and Retiree Medical Benefits
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Compensation and Retirement Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pension and Retiree Medical Benefits | Pension and Retiree Medical Benefits The components of net periodic benefit cost for pension and retiree medical plans are as follows:
During the second quarter of 2014, we made discretionary contributions of $19 million to our international pension plans. |
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Debt Obligations and Commitments
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Debt Obligations and Commitments [Abstract] | |||||||||||||||||
Debt Obligations and Commitments | Debt Obligations and Commitments In the first quarter of 2015, $2.1 billion of senior notes matured and were paid. In the second quarter of 2015, we issued:
The net proceeds from the issuances of the above notes were used for general corporate purposes, including the repayment of commercial paper. In the second quarter of 2015, we entered into a new five-year unsecured revolving credit agreement (Five-Year Credit Agreement) which expires on June 8, 2020. The Five-Year Credit Agreement enables us and our borrowing subsidiaries to borrow up to $3.7225 billion, subject to customary terms and conditions. We may request that commitments under this agreement be increased up to $4.5 billion. Additionally, we may, once a year, request renewal of the agreement for an additional one-year period. Also in the second quarter of 2015, we entered into a new 364-day unsecured revolving credit agreement (364-Day Credit Agreement) which expires on June 6, 2016. The 364-Day Credit Agreement enables us and our borrowing subsidiaries to borrow up to $3.7225 billion, subject to customary terms and conditions. We may request that commitments under this agreement be increased up to $4.5 billion. 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 would mature no later than the anniversary of the then effective termination date. The Five-Year Credit Agreement and the 364-Day Credit Agreement together replaced our $3.7725 billion five-year credit agreement dated as of June 9, 2014 and our $3.7725 billion 364-day credit agreement dated as of June 9, 2014. Funds borrowed under the Five-Year Credit Agreement and the 364-Day Credit Agreement may be used for general corporate purposes. Subject to certain conditions, we may borrow, prepay and reborrow amounts under these agreements. As of June 13, 2015, there were no outstanding borrowings under the Five-Year Credit Agreement or the 364-Day Credit Agreement. As of June 13, 2015, we had $2.9 billion of commercial paper outstanding. |
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Debt obligations and commitments No definition available.
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Accumulated Other Comprehensive Loss
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Equity [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Loss | Accumulated Other Comprehensive Loss The reclassifications from Accumulated Other Comprehensive Loss to the Condensed Consolidated Statement of Income are summarized as follows:
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Amounts Reclassified out of Accumulated Other Comprehensive Income (Loss) [Text Block] No definition available.
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Financial Instruments
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Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Financial Instruments | Financial Instruments Derivatives We are exposed to market risks arising from adverse changes in:
In the normal course of business, we manage commodity price, foreign exchange and interest rate risks through a variety of strategies, including productivity initiatives, global purchasing programs and hedging. Ongoing productivity initiatives involve the identification and effective implementation of meaningful cost-saving opportunities or efficiencies, including the use of derivatives. Our global purchasing programs include fixed-price purchase orders and pricing agreements. Our hedging strategies include the use of derivatives. 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. Cash flows from derivatives used to manage commodity price, foreign exchange or interest rate risks are classified as operating activities in the Condensed Consolidated Statement of Cash Flows. We classify both the earnings and cash flow impact from these derivatives consistent with the underlying hedged item. For cash flow hedges, the effective portion of changes in fair value is deferred in accumulated other comprehensive loss within common shareholders’ equity until the underlying hedged item is recognized in net income. For fair value hedges, changes in fair value are recognized immediately in earnings, consistent with the underlying hedged item. Hedging transactions are limited to an underlying exposure. As a result, any change in the value of our derivative instruments would be substantially offset by an opposite change in the value of the underlying hedged items. We do not use derivative instruments for trading or speculative purposes. We perform assessments of our counterparty credit risk regularly, including reviewing netting agreements, if any, and a review of credit ratings, credit default swap rates and potential nonperformance of the counterparty. Based on our most recent assessment of our counterparty credit risk, we consider this risk to be low. In addition, we enter into derivative contracts with a variety of financial institutions that we believe are creditworthy in order to reduce our concentration of credit risk. Commodity Prices We are subject to commodity price risk because our ability to recover increased costs through higher pricing may be limited in the competitive environment in which we operate. This risk is managed through the use of fixed-price contracts and purchase orders, pricing agreements and derivative instruments, which include swaps and futures. In addition, risk to our supply of certain raw materials is mitigated through purchases from multiple geographies and suppliers. We use derivatives, with terms of no more than three years, to economically hedge price fluctuations related to a portion of our anticipated commodity purchases, primarily for agricultural products, metals and energy. Ineffectiveness for derivatives that qualify for hedge accounting treatment was not material for all periods presented. Derivatives used to hedge commodity price risk that do not qualify for hedge accounting treatment are marked to market each period with the resulting gains and losses recorded in corporate unallocated expenses as either cost of sales or selling, general and administrative expenses, depending on the underlying commodity. These gains and losses are subsequently reflected in division results when the divisions recognize the cost of the underlying commodity in operating profit. Our open commodity derivative contracts had a notional value of $1.0 billion as of June 13, 2015 and $1.2 billion as of December 27, 2014. Foreign Exchange We are exposed to foreign exchange risk from foreign currency purchases and foreign currency assets and liabilities created in the normal course of business. We manage this risk through sourcing purchases from local suppliers, negotiating contracts in local currencies with foreign suppliers and through the use of derivatives, primarily forward contracts with terms of no more than two years. Exchange rate gains or losses related to foreign currency transactions are recognized as transaction gains or losses in our income statement as incurred. Our foreign currency derivatives had a total notional value of $2.0 billion as of June 13, 2015 and $2.7 billion as of December 27, 2014. Ineffectiveness for those derivatives that qualify for hedge accounting treatment was not material for all periods presented. For foreign currency derivatives that do not qualify for hedge accounting treatment, all losses and gains were offset by changes in the underlying hedged items, resulting in no material net impact on earnings. Interest Rates We centrally manage our debt and investment portfolios considering investment opportunities and risks, tax consequences and overall financing strategies. We use various interest rate derivative instruments including, but not limited to, interest rate swaps, cross-currency interest rate swaps, Treasury locks and swap locks to manage our overall interest expense and foreign exchange risk. These instruments effectively change the interest rate and currency of specific debt issuances. Certain of our fixed rate indebtedness has been swapped to floating rates. The notional amount, interest payment and maturity date of the interest rate and cross-currency interest rate swaps match the principal, interest payment and maturity date of the related debt. Our Treasury locks and swap locks are entered into to protect against unfavorable interest rate changes relating to forecasted debt transactions. The notional values of the interest rate derivative instruments outstanding as of June 13, 2015 and December 27, 2014 were $7.8 billion and $9.3 billion, respectively. Ineffectiveness for those derivatives that qualify for cash flow hedge accounting treatment was not material for all periods presented. As of June 13, 2015, approximately 26% of total debt, after the impact of the related interest rate derivative instruments, was exposed to variable rates, compared to approximately 25% as of December 27, 2014. Available-for-Sale Securities Investments in debt and marketable equity securities, other than investments accounted for under the equity method, are classified as available-for-sale. All highly liquid investments with original maturities of three months or less are classified as cash equivalents. Our investments in available-for-sale securities are reported at fair value. Unrealized gains and losses related to changes in the fair value of available-for-sale securities are recognized in accumulated other comprehensive loss within common shareholders’ equity. Unrealized gains and losses on our investments in debt securities as of June 13, 2015 and December 27, 2014 were not material. The pre-tax unrealized gains on our investments in marketable equity securities were $120 million and $111 million as of June 13, 2015 and December 27, 2014, respectively. Changes in the fair value of available-for-sale securities impact net income only when such securities are sold or an other-than-temporary impairment is recognized. We regularly review our investment portfolio to determine if any security is other-than-temporarily impaired. In making this judgment, we evaluate, among other things, the duration and extent to which the fair value of a security is less than its cost; the financial condition of the issuer and any changes thereto; and our intent to sell, or whether we will more likely than not be required to sell, the security before recovery of its amortized cost basis. Our assessment of whether a security is other-than-temporarily impaired could change in the future due to new developments or changes in assumptions related to any particular security. We recorded no other-than-temporary impairment charges for the 12 and 24 weeks ended June 13, 2015 and June 14, 2014, respectively. Tingyi-Asahi Beverages Holding Co. Ltd. Call Option In connection with our transaction with Tingyi (Cayman Islands) Holding Corp. in the second quarter of 2012, we received a call option to increase our holding in Tingyi-Asahi Beverages Holding Co. Ltd. to 20% that expires in the fourth quarter of 2015. If the Company decides not to exercise this call option, we would record a charge to write off the recorded value of the option. Such a charge would be reflected in “Items Affecting Comparability” in the period recognized. Fair Value Measurements The fair values of our financial assets and liabilities as of June 13, 2015 and December 27, 2014 are categorized as follows:
The carrying amounts of our cash and cash equivalents and short-term investments approximate fair value due to their short-term maturity. The fair value of our debt obligations as of June 13, 2015 and December 27, 2014 was $33 billion and $31 billion, respectively, based upon prices of similar instruments in the marketplace. Pre-tax losses/(gains) on our derivative instruments are categorized as follows:
During the next 12 months, we expect to reclassify net gains of $9 million related to our cash flow hedges from accumulated other comprehensive loss into net income. |
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Net Income Attributable to PepsiCo per Common Share
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Jun. 13, 2015
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Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income Attributable to PepsiCo per Common Share | Net Income Attributable to PepsiCo per Common Share The computations of basic and diluted net income attributable to PepsiCo per common share are as follows:
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- Definition
No authoritative reference available. No definition available.
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Basis of Presentation (Tables)
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6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 13, 2015
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Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting Information, By Segment | Net revenue and operating profit of each division are as follows:
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Segment Reporting Information By Total Assets | Total assets of each division are as follows:
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- Definition
Schedule of Total Assets by Segment [Table Text Block] No definition available.
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- Details
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X | ||||||||||
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No authoritative reference available. No definition available.
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Restructuring, Impairment and Integration Charges Restructuring, Impairment and Integration Charges (Tables)
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6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 13, 2015
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Restructuring and Related Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2014 Schedule of Restructuring Related Costs [Table Text Block] | A summary of our 2014 Productivity Plan charges is as follows:
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Summary Of 2014 Productivity Plan Activity [Table Text Block] | A summary of our 2014 Productivity Plan activity in 2015 is as follows:
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Restructuring and Related Costs [Table Text Block] | A summary of our 2012 Productivity Plan charges is as follows:
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Summary Of Productivity Plan Activity [Table Text Block] | A summary of our 2012 Productivity Plan activity in 2015 is as follows:
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- Definition
2014 Schedule of Restructuring Related Costs [Table Text Block] No definition available.
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X | ||||||||||
- Definition
Summary Of 2014 Productivity Plan Activity [Table Text Block] [Table Text Block] No definition available.
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- Definition
Summary Of Productivity Plan Activity [Table Text Block] No definition available.
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- Details
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- Definition
No authoritative reference available. No definition available.
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Intangible Assets (Tables)
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6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 13, 2015
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Goodwill and Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Finite-Lived Intangible Assets | A summary of our amortizable intangible assets is as follows:
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Schedule Of Change In Book Value Of Nonamortizable Intangible Assets | The change in the book value of nonamortizable intangible assets is as follows:
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- Definition
Schedule Of Change In Book Value Of Non Amortizable Intangible Assets [Table Text Block] No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Income Taxes (Tables)
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6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 13, 2015
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Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reserves Rollforward | A rollforward of our reserves for all federal, state and foreign tax jurisdictions is as follows:
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No authoritative reference available. No definition available.
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Stock-Based Compensation (Tables)
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6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 13, 2015
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Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan | The following table summarizes our total stock-based compensation expense:
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Schedule of Share-based Payment Award, 2007 Long-Term Incentive Plan | The following table summarizes awards granted under the terms of our 2007 Long-Term Incentive Plan:
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Schedule Of Weighted-Average Black-Scholes Fair Value Assumptions | Our weighted-average Black-Scholes fair value assumptions are as follows:
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X | ||||||||||
- Definition
Schedule of Share-based Payment Award, 2007 Long-Term Incentive Plan [Text Block] No definition available.
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No authoritative reference available. No definition available.
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No authoritative reference available. No definition available.
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Pension and Retiree Medical Benefits (Tables)
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6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 13, 2015
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Compensation and Retirement Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Defined Benefit Plans Disclosures [Table Text Block] | The components of net periodic benefit cost for pension and retiree medical plans are as follows:
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Accumulated Other Comprehensive Loss (Tables)
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6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 13, 2015
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Equity [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reclassifications out of Accumulated Other Comprehensive Loss | The reclassifications from Accumulated Other Comprehensive Loss to the Condensed Consolidated Statement of Income are summarized as follows:
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- Details
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Financial Instruments (Tables)
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6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 13, 2015
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Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Values of Financial Assets and Liabilities | Fair Value Measurements The fair values of our financial assets and liabilities as of June 13, 2015 and December 27, 2014 are categorized as follows:
The carrying amounts of our cash and cash equivalents and short-term investments approximate fair value due to their short-term maturity. The fair value of our debt obligations as of June 13, 2015 and December 27, 2014 was $33 billion and $31 billion, respectively, based upon prices of similar instruments in the marketplace. |
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Effective Portion Of Pre-Tax (Gains)/Losses On Derivative Instruments | Pre-tax losses/(gains) on our derivative instruments are categorized as follows:
During the next 12 months, we expect to reclassify net gains of $9 million related to our cash flow hedges from accumulated other comprehensive loss into net income. |
X | ||||||||||
- Details
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Net Income Attributable to PepsiCo per Common Share (Tables)
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6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 13, 2015
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Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Basic And Diluted Net Income Attributable To PepsiCo Per Common Share | The computations of basic and diluted net income attributable to PepsiCo per common share are as follows:
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X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Segment Reporting Information by Net Revenue and Operating Profit (Detail) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 13, 2015
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Jun. 14, 2014
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Jun. 13, 2015
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Jun. 14, 2014
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Segment Reporting Information [Line Items] | ||||
Operating Profit | $ 2,900 | $ 2,896 | $ 4,697 | $ 4,703 |
Net Revenue | 15,923 | 16,894 | 28,140 | 29,517 |
FLNA
|
||||
Segment Reporting Information [Line Items] | ||||
Operating Profit | 1,007 | 937 | 1,927 | 1,799 |
Net Revenue | 3,452 | 3,387 | 6,771 | 6,606 |
QFNA
|
||||
Segment Reporting Information [Line Items] | ||||
Operating Profit | 132 | 139 | 231 | 299 |
Net Revenue | 546 | 564 | 1,185 | 1,198 |
Asset Impairment Charges | 65 | |||
Asset Impairment Charges, After Tax | 50 | |||
LAF
|
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Segment Reporting Information [Line Items] | ||||
Operating Profit | 285 | 323 | 489 | 555 |
Net Revenue | 2,000 | 2,122 | 3,279 | 3,460 |
PAB
|
||||
Segment Reporting Information [Line Items] | ||||
Operating Profit | 903 | 868 | 1,371 | 1,297 |
Net Revenue | 5,337 | 5,281 | 9,770 | 9,707 |
Europe
|
||||
Segment Reporting Information [Line Items] | ||||
Operating Profit | 334 | 451 | 434 | 603 |
Net Revenue | 2,788 | 3,657 | 4,265 | 5,618 |
AMEA
|
||||
Segment Reporting Information [Line Items] | ||||
Operating Profit | 389 | 381 | 631 | 575 |
Net Revenue | 1,800 | 1,883 | 2,870 | 2,928 |
Significant Acquisitions and Disposals, Gain/(Loss) on Sale of Disposal, Pretax | 39 | 39 | ||
Significant Acquisitions and Disposals, Gain/(Loss) on Sale of Disposal, After Tax | 28 | 28 | ||
Total Division
|
||||
Segment Reporting Information [Line Items] | ||||
Operating Profit | 3,050 | 3,099 | 5,083 | 5,128 |
Net Revenue | 15,923 | 16,894 | 28,140 | 29,517 |
Corporate Unallocated Net Impact Of Mark To Market On Commodity Hedges
|
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Segment Reporting Information [Line Items] | ||||
Operating Profit | 39 | 31 | 38 | 65 |
Corporate Unallocated Restructuring And Impairment Charges
|
||||
Segment Reporting Information [Line Items] | ||||
Operating Profit | (1) | (8) | (7) | (5) |
Corporate Unallocated Other
|
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Segment Reporting Information [Line Items] | ||||
Operating Profit | $ (188) | $ (226) | $ (417) | $ (485) |
X | ||||||||||
- Definition
Asset Impairment Charges, After Tax No definition available.
|
X | ||||||||||
- Definition
Significant Acquisitions and Disposals, Gain/(Loss) on Sale of Disposal, After Tax No definition available.
|
X | ||||||||||
- Definition
Significant Acquisitions and Disposals, Gain/(Loss) on Sale of Disposal, Pretax No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Details
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Segment Reporting Information by Total Assets (Detail) (USD $)
In Millions, unless otherwise specified |
Jun. 13, 2015
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Dec. 27, 2014
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---|---|---|---|---|---|---|
Segment Reporting Information [Line Items] | ||||||
Assets | $ 72,262 | $ 70,509 | ||||
FLNA
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Segment Reporting Information [Line Items] | ||||||
Assets | 5,421 | 5,307 | ||||
QFNA
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Segment Reporting Information [Line Items] | ||||||
Assets | 932 | 982 | ||||
LAF
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Segment Reporting Information [Line Items] | ||||||
Assets | 4,682 | 4,760 | ||||
PAB
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Segment Reporting Information [Line Items] | ||||||
Assets | 31,052 | 30,188 | ||||
Europe
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Segment Reporting Information [Line Items] | ||||||
Assets | 14,363 | 13,902 | ||||
AMEA
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Segment Reporting Information [Line Items] | ||||||
Assets | 5,979 | 5,887 | ||||
Total Division
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Segment Reporting Information [Line Items] | ||||||
Assets | 62,429 | 61,026 | ||||
Corporate
|
||||||
Segment Reporting Information [Line Items] | ||||||
Assets | 9,833 | [1] | 9,483 | [1] | ||
Assets, Total [Member]
|
||||||
Segment Reporting Information [Line Items] | ||||||
Assets | $ 72,262 | $ 70,509 | ||||
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
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Restructuring, Impairment and Integration Charges 2014 Productivity Plan Charges (Details) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 13, 2015
|
Jun. 14, 2014
|
Jun. 13, 2015
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Jun. 14, 2014
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|
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring, Settlement and Impairment Provisions | $ 1 | $ 0 | $ 1 | $ (3) |
2014 Productivity Plan
|
||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring, Settlement and Impairment Provisions | 21 | 77 | 51 | 173 |
FLNA | 2014 Productivity Plan
|
||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring, Settlement and Impairment Provisions | 2 | 12 | 8 | 24 |
QFNA | 2014 Productivity Plan
|
||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring, Settlement and Impairment Provisions | 0 | 0 | 1 | 2 |
LAF | 2014 Productivity Plan
|
||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring, Settlement and Impairment Provisions | 4 | 5 | 6 | 6 |
PAB | 2014 Productivity Plan
|
||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring, Settlement and Impairment Provisions | 8 | 33 | 14 | 115 |
Europe | 2014 Productivity Plan
|
||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring, Settlement and Impairment Provisions | 4 | 13 | 13 | 15 |
AMEA | 2014 Productivity Plan
|
||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring, Settlement and Impairment Provisions | 2 | 7 | 4 | 9 |
Corporate Unallocated [Member] | 2014 Productivity Plan
|
||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring, Settlement and Impairment Provisions | $ 1 | $ 7 | $ 5 | $ 2 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Restructuring, Impairment and Integration Charges 2014 Productivity Plan Activity (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 13, 2015
|
Jun. 14, 2014
|
Jun. 13, 2015
|
Jun. 14, 2014
|
|
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring, Settlement and Impairment Provisions | $ 1 | $ 0 | $ 1 | $ (3) |
Payments for Restructuring | (107) | (112) | ||
2014 Productivity Plan
|
||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Reserve - Period Start | 113 | |||
Restructuring, Settlement and Impairment Provisions | 21 | 77 | 51 | 173 |
Payments for Restructuring | (85) | |||
Restructuring Reserve, Settled without Cash | (4) | |||
Restructuring Reserve - Period End | 75 | 75 | ||
Restructuring Charges After Tax | 16 | 55 | 39 | 128 |
Restructuring, Settlement and Impairment Provisions, Net of Tax, Per Share Amount | $ 0.01 | $ 0.04 | $ 0.03 | $ 0.08 |
Employee Severance [Member] | 2014 Productivity Plan
|
||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Reserve - Period Start | 89 | |||
Restructuring, Settlement and Impairment Provisions | 15 | |||
Payments for Restructuring | (40) | |||
Restructuring Reserve, Settled without Cash | (3) | |||
Restructuring Reserve - Period End | 61 | 61 | ||
Other Costs [Member] | 2014 Productivity Plan
|
||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Reserve - Period Start | 24 | |||
Restructuring, Settlement and Impairment Provisions | 36 | |||
Payments for Restructuring | (45) | |||
Restructuring Reserve, Settled without Cash | (1) | |||
Restructuring Reserve - Period End | $ 14 | $ 14 |
X | ||||||||||
- Definition
Restructuring charges, after tax No definition available.
|
X | ||||||||||
- Definition
Restructuring, Settlement and Impairment Provisions, Net of Tax, Per Share Amount No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Restructuring, Impairment and Integration Charges 2012 Productivity Plan Charges (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 13, 2015
|
Jun. 14, 2014
|
Jun. 13, 2015
|
Jun. 14, 2014
|
|
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring, Settlement and Impairment Provisions | $ 1 | $ 0 | $ 1 | $ (3) |
Payments for Restructuring | 107 | 112 | ||
2012 Productivity Plan
|
||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring, Settlement and Impairment Provisions | 4 | 15 | 10 | 17 |
Restructuring, Settlement and Impairment Provisions, Net of Tax, Per Share Amount | $ 0.01 | $ 0.01 | $ 0.01 | |
Payments for Restructuring | 22 | |||
2012 Productivity Plan | FLNA
|
||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring, Settlement and Impairment Provisions | 0 | 1 | 0 | 2 |
2012 Productivity Plan | QFNA
|
||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring, Settlement and Impairment Provisions | 0 | 0 | 0 | 0 |
2012 Productivity Plan | LAF
|
||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring, Settlement and Impairment Provisions | 0 | 0 | 0 | (5) |
2012 Productivity Plan | PAB
|
||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring, Settlement and Impairment Provisions | 0 | 3 | 1 | 7 |
2012 Productivity Plan | Europe
|
||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring, Settlement and Impairment Provisions | 3 | 10 | 6 | 8 |
2012 Productivity Plan | AMEA
|
||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring, Settlement and Impairment Provisions | 1 | 0 | 1 | 2 |
2012 Productivity Plan | Corporate Unallocated Expenses
|
||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring, Settlement and Impairment Provisions | $ 0 | $ 1 | $ 2 | $ 3 |
X | ||||||||||
- Definition
Restructuring, Settlement and Impairment Provisions, Net of Tax, Per Share Amount No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Restructuring, Impairment and Integration Charges 2012 Productivity Plan Activity (Details) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 13, 2015
|
Jun. 14, 2014
|
Jun. 13, 2015
|
Jun. 14, 2014
|
|
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring, Settlement and Impairment Provisions | $ 1 | $ 0 | $ 1 | $ (3) |
Payments for Restructuring | (107) | (112) | ||
2012 Productivity Plan
|
||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Reserve - Period Start | 33 | |||
Restructuring, Settlement and Impairment Provisions | 4 | 15 | 10 | 17 |
Restructuring Charges After Tax | 3 | 14 | 9 | 17 |
Payments for Restructuring | (22) | |||
Restructuring Reserve, Settled without Cash | (2) | |||
Restructuring Reserve - Period End | 19 | 19 | ||
Employee Severance [Member] | 2012 Productivity Plan
|
||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Reserve - Period Start | 28 | |||
Restructuring, Settlement and Impairment Provisions | 1 | |||
Payments for Restructuring | (11) | |||
Restructuring Reserve, Settled without Cash | (2) | |||
Restructuring Reserve - Period End | 16 | 16 | ||
Other Costs [Member] | 2012 Productivity Plan
|
||||
Restructuring Cost and Reserve [Line Items] | ||||
Restructuring Reserve - Period Start | 5 | |||
Restructuring, Settlement and Impairment Provisions | 9 | |||
Payments for Restructuring | (11) | |||
Restructuring Reserve, Settled without Cash | 0 | |||
Restructuring Reserve - Period End | $ 3 | $ 3 |
X | ||||||||||
- Definition
Restructuring charges, after tax No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Intangible Assets Amortizable Intangible Assets, net (Detail) (USD $)
In Millions, unless otherwise specified |
Jun. 13, 2015
|
Dec. 27, 2014
|
---|---|---|
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | $ 2,871 | $ 2,942 |
Finite-Lived Intangible Assets, Accumulated Amortization | (1,493) | (1,493) |
Amortizable Intangible Assets, net | 1,378 | 1,449 |
Other Identifiable Intangibles
|
||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | 585 | 595 |
Finite-Lived Intangible Assets, Accumulated Amortization | (308) | (305) |
Amortizable Intangible Assets, net | 277 | 290 |
Brands
|
||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | 1,332 | 1,361 |
Finite-Lived Intangible Assets, Accumulated Amortization | (998) | (1,004) |
Amortizable Intangible Assets, net | 334 | 357 |
Reacquired Franchise Rights
|
||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | 106 | 107 |
Finite-Lived Intangible Assets, Accumulated Amortization | (97) | (95) |
Amortizable Intangible Assets, net | 9 | 12 |
Acquired Franchise Rights
|
||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Finite-Lived Intangible Assets, Gross | 848 | 879 |
Finite-Lived Intangible Assets, Accumulated Amortization | (90) | (89) |
Amortizable Intangible Assets, net | $ 758 | $ 790 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Change in Book Value of Nonamortizable Intangible Assets (Detail) (USD $)
In Millions, unless otherwise specified |
6 Months Ended |
---|---|
Jun. 13, 2015
|
|
Indefinite-lived Intangible Assets [Roll Forward] | |
Balance, Beginning | $ 27,604 |
Translation and Other | (39) |
Balance, End | 27,565 |
FLNA
|
|
Indefinite-lived Intangible Assets [Roll Forward] | |
Balance, Beginning | 318 |
Translation and Other | (10) |
Balance, End | 308 |
LAF
|
|
Indefinite-lived Intangible Assets [Roll Forward] | |
Balance, Beginning | 790 |
Translation and Other | (61) |
Balance, End | 729 |
PAB
|
|
Indefinite-lived Intangible Assets [Roll Forward] | |
Balance, Beginning | 18,762 |
Translation and Other | (108) |
Balance, End | 18,654 |
Europe
|
|
Indefinite-lived Intangible Assets [Roll Forward] | |
Balance, Beginning | 6,972 |
Translation and Other | 180 |
Balance, End | 7,152 |
AMEA
|
|
Indefinite-lived Intangible Assets [Roll Forward] | |
Balance, Beginning | 587 |
Translation and Other | (40) |
Balance, End | 547 |
Goodwill
|
|
Indefinite-lived Intangible Assets [Roll Forward] | |
Balance, Beginning | 14,965 |
Translation and Other | (53) |
Balance, End | 14,912 |
Goodwill | FLNA
|
|
Indefinite-lived Intangible Assets [Roll Forward] | |
Balance, Beginning | 291 |
Translation and Other | (8) |
Balance, End | 283 |
Goodwill | QFNA
|
|
Indefinite-lived Intangible Assets [Roll Forward] | |
Balance, Beginning | 175 |
Translation and Other | 0 |
Balance, End | 175 |
Goodwill | LAF
|
|
Indefinite-lived Intangible Assets [Roll Forward] | |
Balance, Beginning | 601 |
Translation and Other | (46) |
Balance, End | 555 |
Goodwill | PAB
|
|
Indefinite-lived Intangible Assets [Roll Forward] | |
Balance, Beginning | 9,889 |
Translation and Other | (39) |
Balance, End | 9,850 |
Goodwill | Europe
|
|
Indefinite-lived Intangible Assets [Roll Forward] | |
Balance, Beginning | 3,539 |
Translation and Other | 72 |
Balance, End | 3,611 |
Goodwill | AMEA
|
|
Indefinite-lived Intangible Assets [Roll Forward] | |
Balance, Beginning | 470 |
Translation and Other | (32) |
Balance, End | 438 |
Brands
|
|
Indefinite-lived Intangible Assets [Roll Forward] | |
Balance, Beginning | 3,138 |
Translation and Other | 109 |
Balance, End | 3,247 |
Brands | FLNA
|
|
Indefinite-lived Intangible Assets [Roll Forward] | |
Balance, Beginning | 27 |
Translation and Other | (2) |
Balance, End | 25 |
Brands | LAF
|
|
Indefinite-lived Intangible Assets [Roll Forward] | |
Balance, Beginning | 189 |
Translation and Other | (15) |
Balance, End | 174 |
Brands | PAB
|
|
Indefinite-lived Intangible Assets [Roll Forward] | |
Balance, Beginning | 142 |
Translation and Other | (5) |
Balance, End | 137 |
Brands | Europe
|
|
Indefinite-lived Intangible Assets [Roll Forward] | |
Balance, Beginning | 2,663 |
Translation and Other | 139 |
Balance, End | 2,802 |
Brands | AMEA
|
|
Indefinite-lived Intangible Assets [Roll Forward] | |
Balance, Beginning | 117 |
Translation and Other | (8) |
Balance, End | 109 |
Reacquired Franchise Rights
|
|
Indefinite-lived Intangible Assets [Roll Forward] | |
Balance, Beginning | 7,764 |
Translation and Other | (77) |
Balance, End | 7,687 |
Reacquired Franchise Rights | PAB
|
|
Indefinite-lived Intangible Assets [Roll Forward] | |
Balance, Beginning | 7,193 |
Translation and Other | (53) |
Balance, End | 7,140 |
Reacquired Franchise Rights | Europe
|
|
Indefinite-lived Intangible Assets [Roll Forward] | |
Balance, Beginning | 571 |
Translation and Other | (24) |
Balance, End | 547 |
Acquired franchise rights
|
|
Indefinite-lived Intangible Assets [Roll Forward] | |
Balance, Beginning | 1,737 |
Translation and Other | (18) |
Balance, End | 1,719 |
Acquired franchise rights | PAB
|
|
Indefinite-lived Intangible Assets [Roll Forward] | |
Balance, Beginning | 1,538 |
Translation and Other | (11) |
Balance, End | 1,527 |
Acquired franchise rights | Europe
|
|
Indefinite-lived Intangible Assets [Roll Forward] | |
Balance, Beginning | 199 |
Translation and Other | (7) |
Balance, End | $ 192 |
X | ||||||||||
- Definition
Goodwill and Indefinite-lived Intangible Assets, Translation and Purchase Accounting Adjustments No definition available.
|
X | ||||||||||
- Definition
Sum of the carrying amounts as of the balance sheet date for goodwill and indefinite lived intangible assets. No definition available.
|
X | ||||||||||
- Details
|
Rollforward of Reserves for Federal State and Foreign Tax Jurisdictions (Detail) (USD $)
In Millions, unless otherwise specified |
6 Months Ended | 12 Months Ended |
---|---|---|
Jun. 13, 2015
|
Dec. 27, 2014
|
|
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ||
Balance, beginning of year | $ 1,587 | $ 1,268 |
Additions for tax positions related to the current year | 112 | 349 |
Additions for tax positions from prior years | 3 | 215 |
Reductions for tax positions from prior years | (1) | (81) |
Settlement payments | (12) | (70) |
Statute of limitations expiration | (30) | (42) |
Translation and other | (9) | (52) |
Balance, end of period | $ 1,650 | $ 1,587 |
X | ||||||||||
- Definition
The gross amount of increases or decreases in unrecognized tax benefits resulting from translation and other activity. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Weighted Average Black Scholes Fair Value Assumptions (Detail)
|
6 Months Ended | |||||
---|---|---|---|---|---|---|
Jun. 13, 2015
|
Jun. 14, 2014
|
|||||
Black Scholes valuation assumptions [Abstract] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 7 years | 6 years | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.80% | 1.80% | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 15.00% | [1] | 16.00% | [1] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 2.70% | 2.90% | ||||
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Stock-Based Compensation - Additional Information (Detail) (USD $)
In Millions, except Per Share data, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||||||
---|---|---|---|---|---|---|---|---|
Jun. 13, 2015
|
Jun. 14, 2014
|
Jun. 13, 2015
|
Jun. 14, 2014
|
|||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Stock-based compensation expense | $ 68 | $ 68 | $ 144 | $ 140 | ||||
Restructuring, Settlement and Impairment Provisions | 1 | 0 | 1 | (3) | ||||
Recognized stock-based compensation expense | $ 69 | $ 68 | $ 145 | $ 137 | ||||
Employee Stock Option [Member]
|
||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Price | $ 99.25 | $ 79.75 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 1.6 | [1] | 3.0 | [1] | ||||
Restricted Stock Units (RSUs) [Member]
|
||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other Than Options, Grants in Period, Weighted Average Grant Price | $ 99.25 | $ 79.76 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 2.6 | [1] | 4.2 | [1] | ||||
Performance Stock Unit [Member]
|
||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other Than Options, Grants in Period, Weighted Average Grant Price | $ 99.25 | $ 79.75 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 0.3 | [1] | 0.4 | [1] | ||||
|
X | ||||||||||
- Definition
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other Than Options, Grants in Period, Weighted Average Grant Price No definition available.
|
X | ||||||||||
- Definition
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Price No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Components of Net Periodic Benefit Cost for Pension and Retiree Medical Plans (Detail) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 13, 2015
|
Jun. 14, 2014
|
Jun. 13, 2015
|
Jun. 14, 2014
|
|
Defined Benefit Plan Disclosure [Line Items] | ||||
Defined Benefit Plan, Contributions by Employer | $ 19 | |||
U.S.
|
||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 100 | 90 | 201 | 181 |
Interest cost | 126 | 134 | 252 | 268 |
Expected return on plan assets | (197) | (181) | (393) | (362) |
Amortization of prior service cost/(credit) | 4 | (1) | 9 | |
Amortization of net losses/(gains) | 48 | 41 | 95 | 81 |
Gross total | 77 | 88 | 154 | 177 |
Special termination benefits | 1 | 5 | 8 | |
Total expense | 78 | 88 | 159 | 185 |
International
|
||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 26 | 24 | 45 | 43 |
Interest cost | 29 | 33 | 51 | 57 |
Expected return on plan assets | (45) | (44) | (78) | (76) |
Amortization of net losses/(gains) | 18 | 13 | 32 | 22 |
Gross total | 28 | 26 | 50 | 46 |
Total expense | 28 | 26 | 50 | 46 |
Retiree Medical
|
||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 8 | 8 | 16 | 16 |
Interest cost | 12 | 14 | 24 | 28 |
Expected return on plan assets | (6) | (6) | (12) | (12) |
Amortization of prior service cost/(credit) | (9) | (5) | (18) | (10) |
Amortization of net losses/(gains) | 1 | (1) | 1 | (2) |
Gross total | 6 | 10 | 11 | 20 |
Special termination benefits | 1 | 1 | 1 | |
Total expense | $ 6 | $ 11 | $ 12 | $ 21 |
X | ||||||||||
- Definition
Defined Benefit Plan Period Gross No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Debt Obligations and Commitments - Additional Information (Detail) (USD $)
|
3 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Mar. 21, 2015
|
Jun. 13, 2015
|
Jun. 13, 2015
Notes Due 2025 [Member] [Member]
Two Point Seven Five Zero Percent Notes Due 2025 [Member] [Member] [Member]
|
Jun. 13, 2015
Notes Due 2020 [Member]
One Point Eight Five Zero Percent Notes Due 2020 [Member] [Member]
|
Jun. 13, 2015
Notes Due 2018 [Member]
Variable Rate
|
Jun. 13, 2015
Notes Due 2018 [Member]
One Point Two Five Zero Percent Notes Due 2018 [Member]
|
Jun. 13, 2015
Five-Year Unsecured Revolving Credit Agreement (Five-Year Credit Agreement) [Member]
|
Jun. 09, 2014
Five-Year Unsecured Revolving Credit Agreement (Five-Year Credit Agreement) [Member]
|
Jun. 13, 2015
364-Day Unsecured Revolving Credit Agreement (364-Day Credit Agreement) [Member]
|
Jun. 09, 2014
364-Day Unsecured Revolving Credit Agreement (364-Day Credit Agreement) [Member]
|
|
Debt Instrument [Line Items] | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.75% | 1.85% | 1.25% | |||||||
Debt Instrument, Face Amount | $ 1,000,000,000 | $ 750,000,000 | $ 250,000,000 | $ 500,000,000 | ||||||
Repayments of Debt | 2,100,000,000 | |||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 4,500,000,000 | 4,500,000,000 | ||||||||
Line of Credit Facility, Current Borrowing Capacity | 3,722,500,000 | 3,772,500,000 | 3,722,500,000 | 3,772,500,000 | ||||||
Commercial Paper | $ 2,900,000,000 |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Accumulated Other Comprehensive Loss - Additional Information (Details) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 13, 2015
|
Jun. 14, 2014
|
Jun. 13, 2015
|
Jun. 14, 2014
|
|||||||||
Losses/(gains) on cash flow hedges: | ||||||||||||
Total before tax | $ (97) | $ 11 | $ 82 | $ 21 | ||||||||
Tax amounts | 33 | (5) | (37) | (9) | ||||||||
Net (gains)/losses after tax | (64) | 6 | 45 | 12 | ||||||||
Amortization of pension and retiree medical items: | ||||||||||||
Amortization of prior service credit (a) | (9) | [1] | 0 | [1] | (19) | 0 | ||||||
Net actuarial losses | 67 | [1] | 53 | 128 | 101 | |||||||
Total before tax | 58 | 53 | 109 | 101 | ||||||||
Tax amounts | (18) | (17) | (35) | (33) | ||||||||
Net losses after tax | 40 | 36 | 74 | 68 | ||||||||
Total net (gains)/losses reclassified for the period, net of tax | (24) | 42 | 119 | 80 | ||||||||
Cash Flow Hedges
|
||||||||||||
Losses/(gains) on cash flow hedges: | ||||||||||||
Losses/(gains) on cash flow hedges | (97) | [2] | 11 | [2] | 82 | [2] | 21 | [2] | ||||
Cash Flow Hedges | Foreign exchange contracts
|
||||||||||||
Losses/(gains) on cash flow hedges: | ||||||||||||
Losses/(gains) on cash flow hedges | (22) | [2] | (5) | [2] | (44) | [2] | (11) | [2] | ||||
Cash Flow Hedges | Foreign exchange contracts | Sales Revenue, Net [Member]
|
||||||||||||
Losses/(gains) on cash flow hedges: | ||||||||||||
Losses/(gains) on cash flow hedges | (2) | (2) | 0 | |||||||||
Cash Flow Hedges | Foreign exchange contracts | Cost of Sales
|
||||||||||||
Losses/(gains) on cash flow hedges: | ||||||||||||
Losses/(gains) on cash flow hedges | (20) | (5) | (42) | (11) | ||||||||
Cash Flow Hedges | Interest rate derivatives
|
||||||||||||
Losses/(gains) on cash flow hedges: | ||||||||||||
Losses/(gains) on cash flow hedges | (81) | [2] | 9 | [2] | 112 | [2] | 14 | [2] | ||||
Cash Flow Hedges | Interest rate derivatives | Interest Expense
|
||||||||||||
Losses/(gains) on cash flow hedges: | ||||||||||||
Losses/(gains) on cash flow hedges | (81) | 9 | 112 | 14 | ||||||||
Cash Flow Hedges | Commodity contracts
|
||||||||||||
Losses/(gains) on cash flow hedges: | ||||||||||||
Losses/(gains) on cash flow hedges | 6 | [2] | 7 | [2] | 14 | [2] | 18 | [2] | ||||
Cash Flow Hedges | Commodity contracts | Cost of Sales
|
||||||||||||
Losses/(gains) on cash flow hedges: | ||||||||||||
Losses/(gains) on cash flow hedges | 3 | 7 | 8 | 19 | ||||||||
Cash Flow Hedges | Commodity contracts | Selling, General and Administrative Expenses
|
||||||||||||
Losses/(gains) on cash flow hedges: | ||||||||||||
Losses/(gains) on cash flow hedges | $ 3 | $ 6 | $ (1) | |||||||||
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
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- Definition
No authoritative reference available. No definition available.
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No authoritative reference available. No definition available.
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No authoritative reference available. No definition available.
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Financial Instruments - Additional Information (Detail) (USD $)
|
6 Months Ended | |
---|---|---|
Jun. 13, 2015
|
Dec. 27, 2014
|
|
Derivative Instruments, Gain (Loss) [Line Items] | ||
Expected reclassification of net gains (losses) related to hedge from accumulated OCI into net income within the next 12 months | $ 9,000,000 | |
Available-for-sale Equity Securities, Accumulated Gross Unrealized Gain, before Tax | 120,000,000 | 111,000,000 |
Debt Instrument, Fair Value Disclosure | 33,000,000,000 | 31,000,000,000 |
Call Option For Indirect Equity Percentage | 20.00% | |
Commodity contracts
|
||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative maturity term, maximum | 3 years | |
Foreign Exchange Contract
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||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative maturity term, maximum | 2 years | |
Derivative, Notional Amount | 2,000,000,000 | 2,700,000,000 |
Interest rate derivatives
|
||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative, Notional Amount | 7,800,000,000 | 9,300,000,000 |
Percentage of total debt, net of related interest rate derivatives, exposed to variable interest rates | 26.00% | 25.00% |
Designated as Hedging Instrument [Member] | Commodity contracts
|
||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Derivative, Notional Amount | $ 1,000,000,000 | $ 1,200,000,000 |
X | ||||||||||
- Definition
Aggregate notional amount specified by the derivative(s). Expressed as an absolute value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Call Option For Indirect Equity Percentage No definition available.
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- Definition
The portion of the carrying amount of long-term borrowings outstanding as of the balance-sheet date, including current maturities, which accrues interest at a rate subject to change from time to time. No definition available.
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- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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No authoritative reference available. No definition available.
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No authoritative reference available. No definition available.
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Fair Values of Financial Assets and Liabilities (Detail) (USD $)
In Millions, unless otherwise specified |
Jun. 13, 2015
|
Dec. 27, 2014
|
||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Derivatives, Fair Value [Line Items] | ||||||||||||||||||||||||
Short-term Investments | $ 2,017 | $ 2,592 | ||||||||||||||||||||||
Prepaid forward contracts | 25 | [1],[2] | 26 | [1],[2] | ||||||||||||||||||||
Deferred Compensation Assets, Current and Noncurrent | 0 | [1],[3] | 0 | [1],[3] | ||||||||||||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||||||||||
Total derivatives at fair value | 263 | [1],[4] | 307 | [1],[4] | ||||||||||||||||||||
Total Financial Assets at fair value | 5,743 | [1] | 3,821 | [1] | ||||||||||||||||||||
Derivatives not designated as hedging instruments: | ||||||||||||||||||||||||
Total derivatives at fair value | 456 | [1],[4] | 393 | [1],[4] | ||||||||||||||||||||
Total Financial Liabilities at fair Value | 950 | [1] | 897 | [1] | ||||||||||||||||||||
Derivatives Designated As Fair Value Hedging Instruments Assets
|
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Derivatives designated as fair value hedging instruments: | ||||||||||||||||||||||||
Interest rate derivatives | 130 | [1],[5] | 140 | [1],[5] | ||||||||||||||||||||
Derivatives Designated As Hedging Instruments Assets
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Derivatives designated as cash flow hedging instruments: | ||||||||||||||||||||||||
Foreign exchange contracts | 64 | [1],[6] | 76 | [1],[6] | ||||||||||||||||||||
Interest rate derivatives | 1 | [1],[6] | ||||||||||||||||||||||
Commodity contracts | 3 | [1],[7] | ||||||||||||||||||||||
Derivatives designated as hedging instruments, Assets, Total | 64 | [1] | 80 | [1] | ||||||||||||||||||||
Derivatives Not Designated As Hedging Instruments Assets
|
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Derivatives not designated as hedging instruments: | ||||||||||||||||||||||||
Foreign exchange contracts | 4 | [1],[6] | 12 | [1],[6] | ||||||||||||||||||||
Interest rate derivatives | 52 | [1],[5] | 57 | [1],[5] | ||||||||||||||||||||
Commodity contracts | 13 | [1],[7] | 18 | [1],[7] | ||||||||||||||||||||
Derivatives not designated as hedging instruments, Assets, Total | 69 | [1] | 87 | [1] | ||||||||||||||||||||
Derivatives Designated As Fair Value Hedging Instruments Liabilities
|
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Derivatives designated as fair value hedging instruments: | ||||||||||||||||||||||||
Interest rate derivatives | 0 | [1],[5] | 0 | [1],[5] | ||||||||||||||||||||
Derivatives Designated As Hedging Instruments Liabilities
|
||||||||||||||||||||||||
Derivatives designated as cash flow hedging instruments: | ||||||||||||||||||||||||
Foreign exchange contracts | 30 | [1],[6] | 12 | [1],[6] | ||||||||||||||||||||
Interest rate derivatives | 245 | [1],[6] | 117 | [1],[6] | ||||||||||||||||||||
Commodity contracts | 5 | [1],[7] | 10 | [1],[7] | ||||||||||||||||||||
Derivatives designated as hedging instruments, Liabilities, Total | 280 | [1] | 139 | [1] | ||||||||||||||||||||
Derivatives Not Designated As Hedging Instruments Liabilities
|
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Derivatives not designated as hedging instruments: | ||||||||||||||||||||||||
Foreign exchange contracts | 8 | [1],[6] | 13 | [1],[6] | ||||||||||||||||||||
Interest rate derivatives | 67 | [1],[5] | 75 | [1],[5] | ||||||||||||||||||||
Commodity contracts | 101 | [1],[7] | 166 | [1],[7] | ||||||||||||||||||||
Derivatives not designated as hedging instruments, Liabilities, Total | 176 | [1] | 254 | [1] | ||||||||||||||||||||
Liability [Member]
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Derivatives, Fair Value [Line Items] | ||||||||||||||||||||||||
Available-for-sale securities | 0 | [1] | 0 | [1] | ||||||||||||||||||||
Trading Securities | 0 | [1],[8] | 0 | [1],[8] | ||||||||||||||||||||
Prepaid Forward Derivative Asset Fair Value | 0 | [1],[2] | 0 | [1],[2] | ||||||||||||||||||||
Deferred compensation | 494 | [1],[3] | 504 | [1],[3] | ||||||||||||||||||||
Assets [Member]
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Derivatives, Fair Value [Line Items] | ||||||||||||||||||||||||
Available-for-sale securities | 5,251 | [1] | 3,291 | [1] | ||||||||||||||||||||
Short-term Investments | 204 | [1],[8] | 197 | [1],[8] | ||||||||||||||||||||
Liability [Member] | Liability [Member]
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Derivatives, Fair Value [Line Items] | ||||||||||||||||||||||||
Available-for-sale securities | 0 | [1],[9] | 0 | [1],[9] | ||||||||||||||||||||
Assets [Member] | Assets [Member]
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Derivatives, Fair Value [Line Items] | ||||||||||||||||||||||||
Available-for-sale securities | 5,119 | [1],[9] | 3,167 | [1],[9] | ||||||||||||||||||||
Assets [Member] | Assets [Member]
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Derivatives, Fair Value [Line Items] | ||||||||||||||||||||||||
Available-for-sale securities | 132 | [1],[10] | 124 | [1],[10] | ||||||||||||||||||||
Liability [Member] | Liability [Member]
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Derivatives, Fair Value [Line Items] | ||||||||||||||||||||||||
Available-for-sale securities | 0 | [1],[10] | 0 | [1],[10] | ||||||||||||||||||||
Cash and Cash Equivalents [Member]
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Derivatives, Fair Value [Line Items] | ||||||||||||||||||||||||
Available-for-sale securities | 3,300 | 800 | ||||||||||||||||||||||
Short-term Investments [Member]
|
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Derivatives, Fair Value [Line Items] | ||||||||||||||||||||||||
Available-for-sale securities | $ 1,800 | $ 2,400 | ||||||||||||||||||||||
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- Definition
Deferred Compensation Assets, Current and Noncurrent No definition available.
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- Details
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- Definition
Prepaid Forward Asset Fair Value No definition available.
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- Definition
Prepaid Forward Derivative Asset Fair Value No definition available.
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X | ||||||||||
- Definition
The fair value of the entity's total financial assets. No definition available.
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- Definition
The fair value of the entity's total financial liabilities. No definition available.
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- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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No authoritative reference available. No definition available.
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No authoritative reference available. No definition available.
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No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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No authoritative reference available. No definition available.
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No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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Effective Portion of Pre Tax Gains and Losses on Derivative Instruments (Detail) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 13, 2015
|
Jun. 14, 2014
|
Jun. 13, 2015
|
Jun. 14, 2014
|
|||||||||
Derivatives, Fair Value [Line Items] | ||||||||||||
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | $ (9) | |||||||||||
Fair Value/Non-designated Hedges
|
||||||||||||
Derivatives, Fair Value [Line Items] | ||||||||||||
(Gains)/Losses Recognized in Income Statement (a) | 67 | [1] | 9 | [1] | 90 | [1] | (16) | [1] | ||||
Fair Value/Non-designated Hedges | Foreign exchange contracts
|
||||||||||||
Derivatives, Fair Value [Line Items] | ||||||||||||
(Gains)/Losses Recognized in Income Statement (a) | 24 | [1] | 16 | [1] | 16 | [1] | (1) | [1] | ||||
Fair Value/Non-designated Hedges | Interest rate derivatives
|
||||||||||||
Derivatives, Fair Value [Line Items] | ||||||||||||
(Gains)/Losses Recognized in Income Statement (a) | 30 | [1] | (5) | [1] | 7 | [1] | (4) | [1] | ||||
Fair Value/Non-designated Hedges | Commodity contracts
|
||||||||||||
Derivatives, Fair Value [Line Items] | ||||||||||||
(Gains)/Losses Recognized in Income Statement (a) | 13 | [1] | (2) | [1] | 67 | [1] | (11) | [1] | ||||
Cash Flow Hedges
|
||||||||||||
Derivatives, Fair Value [Line Items] | ||||||||||||
Losses/(Gains) Recognized in Accumulated Other Comprehensive Loss | (48) | 41 | 107 | 25 | ||||||||
Losses/(Gains) Reclassified from Accumulated Other Comprehensive Loss into Income Statement (b) | (97) | [2] | 11 | [2] | 82 | [2] | 21 | [2] | ||||
Cash Flow Hedges | Foreign exchange contracts
|
||||||||||||
Derivatives, Fair Value [Line Items] | ||||||||||||
Losses/(Gains) Recognized in Accumulated Other Comprehensive Loss | 15 | 30 | (26) | 12 | ||||||||
Losses/(Gains) Reclassified from Accumulated Other Comprehensive Loss into Income Statement (b) | (22) | [2] | (5) | [2] | (44) | [2] | (11) | [2] | ||||
Cash Flow Hedges | Interest rate derivatives
|
||||||||||||
Derivatives, Fair Value [Line Items] | ||||||||||||
Losses/(Gains) Recognized in Accumulated Other Comprehensive Loss | (65) | 10 | 129 | 5 | ||||||||
Losses/(Gains) Reclassified from Accumulated Other Comprehensive Loss into Income Statement (b) | (81) | [2] | 9 | [2] | 112 | [2] | 14 | [2] | ||||
Cash Flow Hedges | Commodity contracts
|
||||||||||||
Derivatives, Fair Value [Line Items] | ||||||||||||
Losses/(Gains) Recognized in Accumulated Other Comprehensive Loss | 2 | 1 | 4 | 8 | ||||||||
Losses/(Gains) Reclassified from Accumulated Other Comprehensive Loss into Income Statement (b) | $ 6 | [2] | $ 7 | [2] | $ 14 | [2] | $ 18 | [2] | ||||
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- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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- Details
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Basic and Diluted Net Income Attributable to PepsiCo (Detail) (USD $)
In Millions, except Per Share data, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 13, 2015
|
Jun. 14, 2014
|
Jun. 13, 2015
|
Jun. 14, 2014
|
|||||||||
Earnings Per Share [Abstract] | ||||||||||||
Net income attributable to PepsiCo | $ 1,980 | $ 1,978 | $ 3,201 | $ 3,194 | ||||||||
Preferred Stock [Abstract] | ||||||||||||
Redemption premium | (1) | (2) | (2) | (3) | ||||||||
Net income available for PepsiCo common shareholders - Value | 1,979 | 1,976 | 3,199 | 3,191 | ||||||||
Net income available for PepsiCo common shareholders - Shares | 1,476 | [1] | 1,515 | [1] | 1,480 | [1] | 1,519 | [1] | ||||
Basic net income attributable to PepsiCo per common share (in dollars per share) | $ 1.34 | $ 1.30 | $ 2.16 | $ 2.10 | ||||||||
Dilutive Securities [Abstract] | ||||||||||||
Dilutive Securities, Effect on Basic Earnings Per Share, Dilutive Convertible Securities | 0 | 0 | 0 | 0 | ||||||||
Stock options and RSUs - Shares | 14 | [1],[2] | 16 | [1],[2] | 16 | [1],[2] | 16 | [1],[2] | ||||
ESOP convertible preferred stock - Value | 1 | 2 | 2 | 3 | ||||||||
ESOP convertible preferred stock - Shares | 1 | [1] | 1 | [1] | 1 | [1] | 1 | [1] | ||||
Diluted shares - Value | $ 1,980 | $ 1,978 | $ 3,201 | $ 3,194 | ||||||||
Diluted shares - Shares | 1,491 | [1] | 1,532 | [1] | 1,497 | [1] | 1,536 | [1] | ||||
Diluted net income attributable to PepsiCo per common share (in dollars per share) | $ 1.33 | $ 1.29 | $ 2.14 | $ 2.08 | ||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1.6 | 1.6 | 0.1 | |||||||||
Out-of-the-money options average exercise price | $ 99.25 | $ 99.25 | $ 82.25 | |||||||||
|
X | ||||||||||
- Definition
Weighted-average exercise price of out-of-the-money options excluded from the computation of earnings per share. No definition available.
|
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- Details
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- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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- Details
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- Definition
No authoritative reference available. No definition available.
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No authoritative reference available. No definition available.
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No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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No authoritative reference available. No definition available.
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No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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No authoritative reference available. No definition available.
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No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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