Keurig Dr Pepper Inc.
For the period ended Sep 30, 2025. Filed Oct 28, 2025.
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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, 2025 · Filed Oct 28, 2025
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Income Taxes
- Income Taxes
Our effective tax rates were as follows:
| Third Quarter | First Nine Months | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Effective tax rate | 22.3% | 23.2% | 22.6% | 23.4% |
For the third quarter of 2025, the change in our effective tax rate was driven by a shift in the mix of income from higher tax jurisdictions to lower tax jurisdictions and a favorable comparison to a true-up of prior year tax provisions in the third quarter of 2024, partially offset by an increase in uncertain tax positions.
For the first nine months of 2025, the change in our effective tax rate was driven by a shift in the mix of income from higher tax jurisdictions to lower tax jurisdictions, which was partially offset by an increase in uncertain tax positions.
On July 4, 2025, the OBBB was signed into law in the U.S., which includes a broad range of tax reform provisions. We currently expect the impact of the OBBB to be immaterial to our consolidated financial statements, including our estimated annual effective tax rate.
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