Keurig Dr Pepper Inc

For the period ended Dec 31, 2023. Filed Feb 22, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 22, 2024

KDP$37.59+1.8%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

16. Other Financial Information

Other Financial Information

SELECTED BALANCE SHEET INFORMATION

The following tables provide selected financial information from the Consolidated Balance Sheets:

	December 31,
(in millions)	2023	2022
Inventories:
Raw materials	$409	$475
Work in process	12	8
Finished goods	742	858
Total	1,163	1,341
Allowance for excess and obsolete inventories	(21)	(27)
Inventories	$1,142	$1,314
Prepaid expenses and other current assets:
Other receivables	$135	$167
Prepaid income taxes	196	49
Customer incentive programs	24	25
Derivative instruments	15	35
Prepaid marketing	20	19
Spare parts	111	89
Income tax receivable	16	17
Other	81	70
Total prepaid expenses and other current assets	$598	$471
Other non-current assets:
Operating lease right-of-use assets	$876	$881
Customer incentive programs	45	46
Derivative instruments	3	140
Equity securities(1)	69	48
Equity securities without readily determinable fair values	—	1
Other	156	136
Total other non-current assets	$1,149	$1,252

(1)Equity securities are comprised of assets held in a rabbi trust in connection with a non-qualified defined contribution plan and our ownership interest in Vita Coco. Refer to Note 10 for additional information on the rabbi trust. Unrealized mark-to-market gains and losses are recorded in Other (income) expense, net. The Company recorded unrealized mark-to-market gains of $16 million, losses of $4 million, and losses of $5 million for the years ended December 31, 2023, 2022, and 2021, respectively, on its investment in Vita Coco.

	December 31,
(in millions)	2023	2022
Accrued expenses:
Customer rebates & incentives	$477	$429
Accrued compensation	208	246
Insurance reserve	50	53
Interest accrual	72	76
Other accrued expenses	435	349
Total accrued expenses	$1,242	$1,153
Other current liabilities:
Dividends payable	$299	$281
Income taxes payable	29	87
Operating lease liability	114	100
Finance lease liability	106	95
Derivative instruments	150	112
Other	16	10
Total other current liabilities	$714	$685
Other non-current liabilities:
Operating lease liability	$793	$803
Finance lease liability	620	618
Long-term pension and postretirement liability	35	37
Insurance reserves	85	69
Derivative instruments	201	195
Deferred compensation liability	32	30
Other	67	73
Total other non-current liabilities	$1,833	$1,825

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.