PepsiCo offers the world's largest portfolio of billion-dollar food and beverage brands, including 22 different product lines that each generate more than $1 billion in annual retail sales. Our brands stand for quality and are respected household names — Pepsi-Cola, Lay's, Quaker Oats, Tropicana, Gatorade, to name but a few — and we continue to build a portfolio of enjoyable and healthier foods and beverages for our consumers in more than 200 countries.

With annualized revenues of nearly $60 billion, PepsiCo's associates are united by our unique commitment to sustainable growth, called "Performance with Purpose." By dedicating ourselves to offering a broad array of choices for healthy, convenient and fun nourishment, reducing our environmental impact, and fostering a diverse and inclusive workplace culture, PepsiCo balances strong financial returns with giving back to our communities worldwide.

In recognition of our continued sustainability efforts, PepsiCo was named for the fourth time to the Dow Jones Sustainability World Index (DJSI World) and for the fifth time to the Dow Jones Sustainability North America Index (DJSI North America) in 2010.

New Organizational Structure

Beginning in the first quarter of 2011, we realigned certain parts of our reportable divisions to reflect changes in management responsibility. As a result, our Quaker snacks business in North America is being reported within our Quaker Foods North America (QFNA) division as of the beginning of our 2011 fiscal year. Before this change, Quaker snacks in North America were reported as part of our Frito-Lay North America (FLNA) division. Additionally, as of the beginning of the first quarter of 2011, our South Africa snacks business is being reported within our Europe division. Prior to this change, this business was reported as part of our Asia, the Middle East & Africa (AMEA) division.

These changes did not impact our other existing reportable divisions. Our historical division reporting is being reclassified this year to reflect the new organizational structure. The reportable division amounts and discussions in the 2010 Annual Report reflect the management reporting that existed through the end of our 2010 fiscal year.

PepsiCo Americas Foods (PAF) includes Frito-Lay North America (FLNA), Quaker Foods North America (QFNA) and all of our Latin America food and snack businesses (LAF), including our Sabritas and Gamesa businesses in Mexico.

PepsiCo Americas Beverages (PAB) includes PepsiCo Beverages Americas and Pepsi Beverages Company.

PepsiCo Europe includes all beverage, food and snack businesses in Europe.

PepsiCo Asia, Middle East & Africa (AMEA) includes all beverage, food and snack businesses in AMEA.

Our four business units comprise six reportable segments (referred to as divisions), as follows:

• Frito-Lay North America (FLNA)
• Quaker Foods North America (QFNA)
• Latin America Foods (LAF)
• PepsiCo Americas Beverages (PAB)
• Europe
• Asia, Middle East & Africa (AMEA)