[PEPSICO, INC. 2000 ANNUAL REPORT][Financial Highlights][Letter from the Chairman]Quaker Oats[Frito Lay][Pepsi-Cola][Tropicana][Corporate Citizenship]
[Principal Divisions & Corporate Officers][PepsiCo Products][Board of Directors][Capital Stock Information/Stock Performance][Shareholder Information]

PepsiCo, Inc. and Subsidiaries
($ in millions except per share amounts; all per share amounts assume dilution)
  As Reported   Pro Forma(b)
 
   
  2000 1999  % Chg (a)    2000 1999  % Chg (a) 

Summary of Operations  
Net sales    $  20,438    $  20,367 -      $  20,144    $  18,666 8  
Segment operating profit $ 3,550 $ 3,068 16     $ 3,482 $ 3,080 13  
Net income $ 2,183 $ 2,050 6     $ 2,139 $ 1,850 16  
Net income per share $ 1.48 $ 1.37 8     $ 1.45 $ 1.24 17  

Other Data  
Net cash provided by operating activities $ 3,911 $ 3,027 29  
Share repurchases $ 1,430 $ 1,285 11  
Dividends paid $ 796 $ 778 2  
Long-term debt $ 2,346 $ 2,812 (17 )  
Capital spending $ 1,067 $ 1,118 (5 )  

(a)  Percentage changes are based on unrounded amounts.

(b)  PepsiCo's fiscal year ends on the last Saturday in December and, as a result, a fifty-third week is added every 5 or 6 years. The fiscal year ended December 30, 2000 consisted of fifty-three weeks. For comparative purposes, the pro forma information for 2000 excludes the impact of the fifty-third week. The pro forma information for 1999 also gives effect to the bottling transactions described in Note 2 to the financial statements as if the transactions occurred at the beginning of PepsiCo's 1998 fiscal year. In addition, the 1999 pro forma results exclude the Frito-Lay impairment and restructuring pre-tax charge of $65 million ($40 million after-tax), the pre-tax gain on the sale of a chocolate business in Poland of $28 million ($25 million after-tax), the pre-tax net gain on the PBG and Whitman bottling transactions of $1 billion ($270 million after-tax) and the income tax provision of $25 million related to the PepCom transaction. The pro forma information does not purport to represent what PepsiCo's results of operations would have been had such transactions been completed as of the dates indicated nor does it give effect to any other events.