Consolidated Financial Statements

Consolidated Balance Sheet

PepsiCo, Inc. and Subsidiaries
(in millions except per share amounts)


December 27, 2008 and December 29, 2007		2008			2007
ASSETS
Current Assets
Cash and cash equivalents	$	2,064		$	910
Short-term investments		213			1,571
Accounts and notes receivable, net		4,683			4,389
Inventories		2,522			2,290
Prepaid expenses and other current assets		1,324			991
Total Current Assets		10,806			10,151
Property, Plant and Equipment, net		11,663			11,228
Amortizable Intangible Assets, net		732			796
Goodwill		5,124			5,169
Other nonamortizable intangible assets		1,128			1,248
Nonamortizable Intangible Assets		6,252			6,417
Investments in Noncontrolled Affiliates		3,883			4,354
Other Assets		2,658			1,682
Total Assets	$	35,994		$	34,628
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities
Short-term obligations	$	369		$	–
Accounts payable and other current liabilities		8,273			7,602
Income taxes payable		145			151
Total Current Liabilities		8,787			7,753
Long-Term Debt Obligations		7,858			4,203
Other Liabilities		7,017			4,792
Deferred Income Taxes		226			646
Total Liabilities		23,888			17,394
Commitments and Contingencies
Preferred Stock, no par value		41			41
Repurchased Preferred Stock		(138	)		(132	)
Common Shareholders’ Equity
Common stock, par value 1 2/3 per share (authorized 3,600 shares, issued 1,782 shares)		30			30
Capital in excess of par value		351			450
Retained earnings		30,638			28,184
Accumulated other comprehensive loss		(4,694	)		(952	)
Repurchased common stock, at cost (229 and 177 shares, respectively)		(14,122	)		(10,387	)
Total Common Shareholders’ Equity		12,203			17,325
Total Liabilities and Shareholders’ Equity	$	35,994		$	34,628