Keurig Dr Pepper Inc
For the period ended Mar 31, 2024. Filed Apr 25, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed Apr 25, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Goodwill and Other Intangible Assets
- Goodwill and Other Intangible Assets
GOODWILL
Changes in the carrying amount of goodwill by reportable segment are as follows:
| (in millions) | U.S. Refreshment Beverages | U.S. Coffee | International | Total |
|---|---|---|---|---|
| Balance as of January 1, 2024 | $8,714 | $8,622 | $2,866 | $20,202 |
| Foreign currency translation | — | — | (39) | (39) |
| Balance as of March 31, 2024 | $8,714 | $8,622 | $2,827 | $20,163 |
INTANGIBLE ASSETS OTHER THAN GOODWILL
The net carrying amounts of intangible assets other than goodwill with indefinite lives are as follows:
| (in millions) | March 31, 2024 | December 31, 2023 |
|---|---|---|
| Brands(1) | $19,443 | $19,476 |
| Trade names | 2,478 | 2,478 |
| Distribution rights(2) | 186 | 155 |
| Total | $22,107 | $22,109 |
(1)The change in brands with indefinite lives was primarily driven by foreign currency translation of $33 million during the first quarter of 2024.
(2)The change in distribution rights with indefinite lives was primarily driven by acquired distribution rights related to Electrolit of $31 million.
The net carrying amounts of intangible assets other than goodwill with definite lives are as follows:
| March 31, 2024 | December 31, 2023 | |||||
|---|---|---|---|---|---|---|
| (in millions) | Gross Amount | Accumulated Amortization | Net Amount | Gross Amount | Accumulated Amortization | Net Amount |
| Acquired technology | $1,146 | $(567) | $579 | $1,146 | $(548) | $598 |
| Customer relationships | 638 | (245) | 393 | 638 | (236) | 402 |
| Contractual arrangements | 146 | (15) | 131 | 146 | (13) | 133 |
| Trade names | 126 | (116) | 10 | 126 | (114) | 12 |
| Brands | 51 | (27) | 24 | 51 | (25) | 26 |
| Distribution rights | 29 | (22) | 7 | 29 | (22) | 7 |
| Total | $2,136 | $(992) | $1,144 | $2,136 | $(958) | $1,178 |
Amortization expense for intangible assets with definite lives was as follows:
| First Quarter | ||
|---|---|---|
| (in millions) | 2024 | 2023 |
| Amortization expense | $33 | $34 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.