1. Purpose
   1. Overview
   2. Recipe for the Next Billion
   3. Performance
      1. Financial Highlights
      2. In the words of CEO Indra Nooyi
      3. Our Business & Brands
      4. Operations
   4. Human Sustainability
   5. Environmental Sustainability
   6. Talent Sustainability
   7. Responsible & Sustainable Sourcing
   8. PepsiCo Foundation
   9. PepsiCo Contributions
   10. Reporting

Operations

Frito-Lay North America

Either independently or through contract manufacturers, FLNA makes, markets, sells and distributes branded snack foods. These foods include Lay's potato chips, Doritos tortilla chips, Cheetos cheese-flavored snacks, Tostitos tortilla chips, branded dips, Ruffles potato chips, Fritos corn chips, Quaker Chewy granola bars and SunChips multigrain snacks. FLNA-branded products are sold to independent distributors and retailers. In addition, FLNA's joint venture with Strauss Group makes, markets, sells and distributes Sabra hummus refrigerated dips and spreads.

Quaker Foods North America

Either independently or through contract manufacturers, QFNA makes, markets and sells cereals, rice, pasta and other branded products. QFNA's products include Quaker oatmeal, Aunt Jemima mixes and syrups, Cap'n Crunch cereal, Quaker grits, Life cereal, Rice-A-Roni, Pepsi Americas, Inc.ta Roni and Near East side dishes. These branded products are sold to independent distributors and retailers.

Latin America Foods

Either independently or through contract manufacturers, LAF makes, markets and sells a number of snack food brands, including Doritos, Marias Gamesa, Cheetos, Ruffles, Emperador, Saladitas, Sabritas and Lay's, as well as many Quaker-brand cereals and snacks. These branded products are sold to independent distributors and retailers.

PepsiCo Americas Beverages

Either independently or through contract manufacturers, PAB makes, markets, sells and distributes beverage concentrates, fountain syrups and finished goods and juices, under various beverage brands, including Pepsi, Mountain Dew, Gatorade, 7UP (outside the U.S.), Electropura, Sierra Mist, Epura and Mirinda; and a variety of juice drinks including Tropicana, SoBe, Naked and Trop50. PAB also, either independently or through contract manufacturers or bottlers, makes, markets and sells ready-to-drink tea, coffee and water products through joint ventures with Unilever (under the Lipton brand name) and Starbucks. In addition, PAB licenses the Aquafina water brand to its independent bottlers and markets this brand. Furthermore, PAB manufactures and distributes certain brands licensed from Dr Pepper Snapple Group, Inc. (DPSG), including Dr Pepper and Crush.

See our 2010 Annual Report for additional information about our acquisitions of Pepsi Bottling Group and Pepsi Americas, Inc. in 2010.

Europe

Either independently or through contract manufacturers, Europe makes, markets and sells a number of leading snack foods, including Lay's, Walkers, Doritos, Cheetos and Ruffles, as well as many Quaker-brand cereals and snacks through consolidated businesses as well as through noncontrolled affiliates. Europe also, either independently or through contract manufacturers or bottlers, makes, markets and sells beverage concentrates, fountain syrups and finished goods and juices under various beverage brands, including Pepsi, 7UP and Tropicana. These branded products are sold to authorized bottlers, independent distributors and retailers. In certain markets, however, Europe operates its own bottling plants and distribution facilities. In addition, Europe licenses the Aquafina water brand to certain of its authorized bottlers. Europe also, either independently or through contract manufacturers, makes, markets and sells ready-to-drink tea products through an international joint venture with Unilever (under the Lipton brand name).

Europe reports two measures of volume. Snacks volume is reported on a system-wide basis, which includes our own sales and the sales by our noncontrolled affiliates of snacks bearing company-owned or licensed trademarks. Beverage volume reflects company-owned or authorized bottler sales of beverages bearing company-owned or licensed trademarks to independent distributors and retailers (see PepsiCo Americas Beverages above).

See our 2010 Annual Report for additional information about our acquisitions of Pepsi Bottling Group and Pepsi Americas, Inc. in 2010 and our acquisition of Wimm-Bill-Dann.

Asia, Middle East & Africa

AMEA makes, markets and sells a number of leading snack food brands, including Lay's, Chipsy, Kurkure, Doritos, Cheetos and Smith's, through consolidated businesses as well as through noncontrolled affiliates. Further, either independently or through contract manufacturers, AMEA makes, markets and sells many Quaker-brand cereals and snacks. AMEA also makes, markets and sells beverage concentrates, fountain syrups and finished goods and juices, under various beverage brands, including Pepsi, Mirinda, 7UP, Mountain Dew and Tropicana. These branded products are sold to authorized bottlers, independent distributors and retailers. However, in certain markets, AMEA operates its own bottling plants and distribution facilities. In addition, AMEA licenses the Aquafina water brand to certain of its authorized bottlers. AMEA also, either independently or through contract manufacturers, makes, markets and sells ready-to-drink tea products through an international joint venture with Unilever (under the Lipton brand name). AMEA reports two measures of volume (see Europe above).