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$36.94+0.8%Stored close · as of Nov 9, 2026

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Contents

Other Financial Information

Other Financial Information

SELECTED BALANCE SHEET INFORMATION

The tables below provide selected financial information from the unaudited Condensed Consolidated Balance Sheets:

	September 30,	December 31,
(in millions)	2024	2023
Inventories:
Raw materials	$536	$409
Work-in-progress	10	12
Finished goods	826	742
Total	1,372	1,163
Allowance for excess and obsolete inventories	(21)	(21)
Total Inventories	$1,351	$1,142
Prepaid expenses and other current assets:
Other receivables	$152	$135
Prepaid income taxes	240	196
Customer incentive programs	49	24
Derivative instruments	33	15
Prepaid marketing	24	20
Spare parts	124	111
Income tax receivable	16	16
Other	105	81
Total prepaid expenses and other current assets	$743	$598
Other non-current assets:
Operating lease right-of-use assets	$841	$876
Customer incentive programs	47	45
Derivative instruments	7	3
Equity securities	76	69
Other	168	156
Total other non-current assets	$1,139	$1,149

Equity Securities

Fair values of equity securities are determined using quoted market prices from daily exchange traded markets, based on the closing price as of the balance sheet date, and are classified as Level 1. Unrealized mark-to-market gains and losses are recorded to Other income, net. The following table presents the amount of unrealized mark-to-market (gains) losses, net, on our equity securities recognized in the unaudited Condensed Consolidated Statements of Income related to these securities during the periods presented.

	Third Quarter		First Nine Months
(in millions)	2024	2023	2024	2023
Unrealized mark-to-market (gains) losses
Vita Coco	$(1)	$1	$(4)	$(16)
Rabbi trust	(2)	1	(4)	(3)

	September 30,	December 31,
(in millions)	2024	2023
Accrued expenses:
Accrued customer trade	$374	$477
Accrued compensation	198	208
Insurance reserve	66	50
Accrued interest	152	72
Other accrued expenses	498	435
Total accrued expenses	$1,288	$1,242
Other current liabilities:
Dividends payable	$311	$299
Income taxes payable	65	29
Operating lease liability	121	114
Finance lease liability	112	106
Derivative instruments	112	150
Other	15	16
Total other current liabilities	$736	$714
Other non-current liabilities:
Operating lease liability	$758	$793
Finance lease liability	655	620
Pension and post-retirement liability	31	35
Insurance reserves	90	85
Derivative instruments	252	201
Deferred compensation liability	33	32
Other	82	67
Total other non-current liabilities	$1,901	$1,833

Accounts Payable

We have agreements with third party administrators which allow participating suppliers to track our payment obligations, and, if voluntarily elected by the supplier, to sell our payment obligations to financial institutions. Suppliers can sell one or more of our payment obligations, at their sole discretion, and our rights and obligations to our suppliers, including amounts due and scheduled payment terms, are not impacted. We have no economic interest in a supplier’s decision to enter into these agreements and no direct financial relationship with the financial institutions. Outstanding obligations confirmed as valid included in accounts payable as of September 30, 2024 and December 31, 2023 were $1,786 million and $2,389 million, respectively.

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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.