Keurig Dr Pepper Inc.
For the period ended Jun 30, 2026. Filed Aug 10, 2026.
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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.
Jun 30, 2026 · Filed Aug 10, 2026
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Goodwill and Intangible Assets
- Goodwill and 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 | KDP International | JDE Peet's | Total |
|---|---|---|---|---|---|
| Balance as of December 31, 2025 | $8,870 | $8,622 | $2,755 | $— | $20,247 |
| Acquisition(1) | — | — | — | 9,660 | 9,660 |
| Foreign currency translation | — | — | (60) | (87) | (147) |
| Balance as of June 30, 2026 | $8,870 | $8,622 | $2,695 | $9,573 | $29,760 |
(1)Amount represents the preliminary goodwill recorded as a result of the JDE Peet's Acquisition. Refer to Note 2 for additional information.
INTANGIBLE ASSETS OTHER THAN GOODWILL
The net carrying amounts of intangible assets other than goodwill are as follows:
| June 30, 2026 · December 31, 2025 | ||||||||
|---|---|---|---|---|---|---|---|---|
| (in millions) · Gross Amount · Accumulated Amortization · Net Amount · Gross Amount · Accumulated Amortization · Net Amount | ||||||||
| Intangible assets with definite lives: | ||||||||
| Brands(1) | $3,092 | $(94) | $2,998 | $76 | $(40) | $36 | ||
| Customer relationships(1) | 2,177 | (339) | 1,838 | 683 | (301) | 382 | ||
| Acquired technology(1) | 1,541 | (742) | 799 | 1,146 | (694) | 452 | ||
| Distribution rights | 162 | (48) | 114 | 162 | (35) | 127 | ||
| Contractual arrangements | 146 | (35) | 111 | 146 | (30) | 116 | ||
| Trade names | 126 | (126) | — | 126 | (126) | — | ||
| Other | 25 | (3) | 22 | 25 | (3) | 22 | ||
| Total intangible assets with definite lives | $7,269 | $(1,387) | $5,882 | $2,364 | $(1,229) | $1,135 | ||
| Intangible assets with indefinite lives: | ||||||||
| Brands(1) | $29,632 | $19,993 | ||||||
| Trade names | 2,478 | 2,478 | ||||||
| Distribution rights | 121 | 119 | ||||||
| Total intangible assets with indefinite lives | 32,231 | 22,590 | ||||||
| Total intangible assets, net | $38,113 | $23,725 | ||||||
(1)We recorded additional preliminary intangible assets other than goodwill as a result of the JDE Peet's Acquisition. Refer to Note 2 for additional information on the amounts recorded by asset class.
Amortization expense for intangible assets with definite lives was as follows:
| Second Quarter | First Six Months | |||
|---|---|---|---|---|
| (in millions) | 2026 | 2025 | 2026 | 2025 |
| Amortization expense | $124 | $34 | $161 | $68 |
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