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Hugh Johnston
Chief Financial Officer
Non-GAAP Information
Please refer to the Investors section of PepsiCos web site at www.pepsico.com under the heading Investor Presentations to find disclosure and a reconciliation of any non-GAAP financial measures contained herein.
Glossary
Beginning in the second quarter of 2012, organic results exclude the impact of foreign exchange translation. In addition, 2012 fourth quarter and full year organic results exclude the extra reporting week in 2011. Please refer to the Glossary and attachments to our February 14, 2013 earnings release, available at www.pepsico.com under the heading Investor Presentations, for the definitions of core, constant currency, organic and certain other terms used herein.
PepsiCo Today
Revenue Organic Revenue Growth Operating Margin Net ROIC Dividend Yield
$65B
5% 15%
15% 3%
3
Certain of the above items are reflected on a core basis and represent Non-GAAP financial measures that exclude certain items. Please refer to the Reconciliation of GAAP and Non-GAAP Information attachment posted on February 21, 2013 under the "Investors - Investor Presentations section on PepsiCos website at www.pepsico.com to find disclosure and a reconciliation of the above non -GAAP financial measures.
51%
49%
Highly complementary
PepsiCo #1 globally in salty snacks
Global Nutrition
DAYPARTS COHORTS
NEEDSTATES OCCASIONS
5
3
4 5 6 7
17
18 19 20 21
31
32 33 34 35
8
9 10 11 12
22
23 24 25 26
36
37 38 39 40
13
14
27
28
8
52 Weeks Ending Dec 30, 2012, SymphonyIRI Group - Total Store Advantage, Total US MultiOutletC
35%
Developed
65%
Both
Snacks Only
Beverages Only
No Presence
Note: Developed and Emerging & Developing data is based on 2012 net revenue
10K
20K
GDP / Capita
Source: Euromonitor
10
100
Source: Euromonitor
11
Stepped Up Innovation
Strengthened Execution
13
HUGE CONSUMER
ENGAGEMENT
22,000
OVER 7 YEAR HISTORY
ADS SUBMITTED
OF TOP 10
SUPERBOWL SPOTS
14
Do Us a Flavor
19 GLOBALLY
MILLION SUBMISSIONS
UK TO 17 MARKETS
INCLUDING POLAND, EGYPT & INDIA
15
Pro Teams
Colleges
16
17
325 SOLD
MILLION UNITS
MOST SUCCESSFUL
NEW PRODUCT IN
HISTORY
18
TACO BELL
DELICIOUS PREMIUM
WITH REAL FRUIT AND NUTS
2012 BREAKFAST
19
Pepsi Next
60%
LESS CALORIES
REAL
COLA
TASTE
$150 RETAIL
MILLION AT
20
Starbucks Refreshers
60
CALORIE
SPARKLING BEVERAGE
DELICIOUS
BOOST OF ENERGY
FROM GREEN COFFEE EXTRACT
21
Trop 50
50%
LESS CALORIES
LAUNCHED IN THE UK
FOLLOWING SUCCESS IN
US & CANADA
22
CARB ENERGY
TO FUEL ATHLETES
PERFORMANCE
23
Strengthened Execution
Frito Share of Salty Purchases with a CSD 2011
+2pts 60% 62%
2012
+4pts 59% 63%
2012
+3pts
32%
34%
32%
35%
Other
PEP
Other
PEP
Other
PEP
Other
PEP
Source: IRI Household panel, 2012 is rolling 12 months ending December 16, 2012
24
GTM Strategy
25
Cash Returns
Strong 2012 Performance
Delivered $7.4 billion Management Operating Cash Flow (MOCF) ex-items Cash conversion cycle improved by 9 days Cap ex managed to 4% of net revenue Returned $6.5 billion to shareholders
26
Balanced Profile
Products Geographies
Significant Emerging and Developing Markets Exposure
Beverages
Snacks
51%
49%
35%
Global Nutrition
Developed
65%
27
Developing
Frequency
Developed
Expansion
Role in Portfolio
Growth Absolute Margin/ROIC Margin Improvement ROIC Improvement Key Markets China, India Russia, Mexico, Brazil U.S., U.K., Canada
28
Geography
% of Growth Growth Rate
LSD-MSD
% of Revenue
% of Revenue
% of Growth
49%
~1/3
MSD
Beverages Snacks
51%
~2/3 35%
29
Long-Term Goals
EPS HSD
Operating Margin
+30-50 bps / year
Supporting Fundamentals:
Note - Certain of the above items represent NonGAAP financial measures that exclude certain items. Please refer to the Reconciliation of GAAP and NonGAAP Information attachment posted on February 21, 2013 under the "Investors Investor Presentations section on PepsiCos website at www.pepsico.com to find disclosure and a reconciliation of the above nonGAAP financial measures.
30
2013: Outlook
Core Constant Currency EPS Growth Organic Revenue Growth 2013 Productivity Savings +7%1 +Mid-Single Digits ~$900M
Commodity Inflation
A&M Core Tax Rate MOCF (excluding certain items) Net Capital Expenditures Share Repurchases Dividends
+Low-Single Digits
At Least 5.7% of Net Revenue ~27% More than $7B ~$3B (<5% of Net Revenue) ~$3.0B ~$3.4B (+5.6% Increase in Div/Share)
31
1. From PepsiCos fiscal 2012 core EPS of $4.10 Note Certain of the above items represent Non-GAAP financial measures that exclude certain items. Please refer to the Reconciliation of GAAP and NonGAAP Information attachment posted on February 21, 2013 under the "Investors Investor Presentations section on PepsiCos website at www.pepsico.com to find disclosure and a reconciliation of the above nonGAAP financial measures.