Keurig Dr Pepper Inc

For the period ended Sep 30, 2024. Filed Oct 24, 2024.

About 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.

Sep 30, 2024 · Filed Oct 24, 2024

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

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Contents

Condensed Consolidated Statements of Cash Flows

	First Nine Months
(in millions)	2024	2023
Operating activities:
Net income	$1,585	$1,488
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation expense	310	299
Amortization of intangibles	100	103
Other amortization expense	140	136
Provision for sales returns	50	42
Deferred income taxes	21	(22)
Employee stock-based compensation expense	76	86
Loss (gain) on disposal of property, plant and equipment	19	(3)
Unrealized loss (gain) on foreign currency	14	(4)
Unrealized loss on derivatives	23	44
Settlements of interest rate contracts	—	54
Equity in earnings of unconsolidated affiliates	(22)	(24)
Earned equity from distribution arrangements	(64)	(2)
Impairment of intangible assets	—	2
Other, net	9	(3)
Changes in assets and liabilities:
Trade accounts receivable	(148)	170
Inventories	(220)	(31)
Income taxes receivable and payables, net	(7)	(39)
Other current and non-current assets	(204)	(159)
Accounts payable and accrued expenses	(275)	(1,155)
Other current and non-current liabilities	(37)	50
Net change in operating assets and liabilities	(891)	(1,164)
Net cash provided by operating activities	1,370	1,032
Investing activities:
Acquisitions of businesses	(85)	—
Purchases of property, plant and equipment	(398)	(271)
Proceeds from sales of property, plant and equipment	1	9
Purchases of intangibles	(49)	(55)
Investments in unconsolidated affiliates	(7)	(308)
Other, net	—	2
Net cash used in investing activities	$(538)	$(623)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

	First Nine Months
(in millions)	2024	2023
Financing activities:
Proceeds from issuance of Notes	$3,000	$—
Repayments of Notes	(1,150)	—
Net (repayment) issuance of commercial paper	(153)	750
Proceeds from structured payables	39	91
Repayments of structured payables	(89)	(105)
Cash dividends paid	(883)	(842)
Repurchases of common stock	(1,105)	(457)
Tax withholdings related to net share settlements	(58)	(57)
Payments on finance leases	(83)	(74)
Other, net	(22)	(3)
Net cash used in financing activities	(504)	(697)
Cash, cash equivalents, restricted cash, and restricted cash equivalents:
Net change from operating, investing and financing activities	328	(288)
Effect of exchange rate changes	(35)	13
Beginning balance	267	535
Ending balance	$560	$260
Supplemental cash flow disclosures of non-cash investing activities:
Capital expenditures included in accounts payable and accrued expenses	$164	$196
Earned equity from distribution arrangements	64	2
Equity received in exchange for modification of related party contract	19	—
Acquisitions of businesses	18	—
Transaction costs included in accounts payable and accrued expenses	—	13
Supplemental cash flow disclosures of non-cash financing activities:
Dividends declared but not yet paid	311	300
Accrued excise tax on net share repurchases	14	3
Supplemental cash flow disclosures:
Cash paid for interest	308	255
Cash paid for income taxes	246	413

ContentsView on SEC.gov

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