Financials - PepsiCo

Consolidated Statement of Equity
PepsiCo, Inc. and Subsidiaries
(in millions)
Fiscal years ended December 25, 2010,
December 26, 2009 and December 27, 2008 2010 2009 2008
Shares Amount Shares Amount Shares Amount
Preferred Stock 0.8 $ 41 0.8 $ 41 0.8 $ 41
Repurchased Preferred Stock
Balance, beginning of year (0.6) (145) (0.5) (138) (0.5) (132)
Redemptions (−) (5) (0.1) (7) (−) (6)
Balance, end of year (0.6) (150) (0.6) (145) (0.5) (138)
Common Stock
Balance, beginning of year 1,782 30 1,782 30 1,782 30
Shares issued in connection with our acquisitions of PBG and PAS 83 1 − − − −
Balance, end of year 1,865 31 1,782 30 1,782 30
Capital in Excess of Par Value
Balance, beginning of year 250 351 450
Stock-based compensation expense 299 227 238
Stock option exercises/RSUs converted (a) (500) (292) (280)
Withholding tax on RSUs converted (68) (36) (57)
Equity issued in connection with our acquisitions of PBG and PAS 4,451 − −
Other 95 − −
Balance, end of year 4,527 250 351
Retained Earnings
Balance, beginning of year 33,805 30,638 28,184
Measurement date change − − (89)
Adjusted balance, beginning of year 33,805 30,638 28,095
Net income attributable to PepsiCo 6,320 5,946 5,142
Cash dividends declared — common (3,028) (2,768) (2,589)
Cash dividends declared — preferred (1) (2) (2)
Cash dividends declared — RSUs (12) (9) (8)
Other 6 − −
Balance, end of year 37,090 33,805 30,638
Accumulated Other Comprehensive Loss
Balance, beginning of year (3,794) (4,694) (952)
Measurement date change − − 51
Adjusted balance, beginning of year (3,794) (4,694) (901)
Currency translation adjustment 312 800 (2,484)
Cash flow hedges, net of tax:
Net derivative (losses)/gains (111) (55) 16
Reclassification of net losses to net income 53 28 5
Pension and retiree medical, net of tax:
Net pension and retiree medical (losses)/gains (280) 21 (1,376)
Reclassification of net losses to net income 166 86 73
Unrealized gains/(losses) on securities, net of tax 23 20 (21)
Other 1 − (6)
Balance, end of year (3,630) (3,794) (4,694)
Repurchased Common Stock
Balance, beginning of year (217) (13,383) (229) (14,122) (177) (10,387)
Share repurchases (76) (4,978) − − (68) (4,720)
Stock option exercises 24 1,487 11 649 15 883
Other (15) 129 1 90 1 102
Balance, end of year (284) (16,745) (217) (13,383) (229) (14,122)
Total Common Shareholders’ Equity 21,273 16,908 12,203
(a) Includes total tax benefits of $75 million in 2010, $31 million in 2009 and $95 million in 2008.
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