KDP — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-10

• KDP is a leading beverage company with more than 150 owned, licensed, and partner brands, that meet a wide range of needs and occasions. Our North American refreshment beverage business holds leadership positions across carbonated soft drinks, water, juice, and mixers, with a portfolio of iconic bra…

• In evaluating our performance, we use different volume measures for LRB, coffee and related products, and appliances.

• For LRB, we measure our sales volume in 288 fluid ounce equivalent cases.

• •For beverage concentrates, we measure our sales volume as concentrate case sales for concentrates sold by us to our bottlers and distributors. A concentrate case is the amount of concentrate needed to make one case of 288 fluid ounces of finished beverage, the equivalent of 24 twelve-ounce servings…

• •For packaged beverages, we measure volume as case sales to customers. A case sale represents a unit of measurement equal to 288 fluid ounces of packaged beverage sold by us. Case sales include both our owned brands and certain brands licensed to and/or distributed by us.

Text removed vs the prior filing · source: 10-Q · 2026-04-23

• KDP is a leading beverage company in North America that manufactures, markets, distributes, and sells hot and cold beverages and single serve brewing systems. We have a broad portfolio of iconic beverage brands, including Dr Pepper, Canada Dry, Mott's, A&W, Peñafiel, GHOST, 7UP, Snapple, Green Mount…

• On January 15, 2026, we commenced a tender offer to acquire all of the issued and outstanding ordinary shares of JDE Peet's for a cash offer price of €31.85 per share, without interest. We substantially completed the tender offer on April 1, 2026.

• During the first quarter of 2026, we completed a series of transactions in order to obtain funding for the consideration of the JDE Peet's Acquisition:

• Refer to Notes 2, 3, 4, 5, and 19 of the Notes to our unaudited Condensed Consolidated Financial Statements for further information about these transactions and the closing of the JDE Peet's Acquisition.

• We have incurred acquisition, integration, and financing costs associated with the acquisition of JDE Peet's and planned Separation, which include costs to obtain proceeds to close the JDE Peet's acquisition and costs to manage the FX risk associated with the purchase price. These costs were primari…

Text added vs the prior filing · source: 10-Q · 2026-08-10

• IEPSMexico’s Special Tax on Production and Services related to sugar-sweetened beverages and noncaloric sweetened drinks

• JDE Peet'sJDE Peet's N.V., which became JDEP Coffee B.V. on May 1, 2026

• JDE Peet's AcquisitionThe acquisition of JDE Peet's on April 1, 2026

• The merger protocol between KDP and JDE Peet's, whereby KDP agreed to commence a tender offer to acquire all of the issued ordinary shares, excluding ordinary shares held in treasury, of JDE Peet's

• Collectively, the senior unsecured notes issued by KDP (excluding the JDE Peet's Notes and the Maple Notes)

Text removed vs the prior filing · source: 10-Q · 2026-04-23

• Collectively, the senior unsecured notes excluding the Maple Notes

Text added vs the prior filing · source: 10-Q · 2026-08-10

• IEPSMexico’s Special Tax on Production and Services related to sugar-sweetened beverages and noncaloric sweetened drinks

• JDE Peet'sJDE Peet's N.V., which became JDEP Coffee B.V. on May 1, 2026

• JDE Peet's AcquisitionThe acquisition of JDE Peet's on April 1, 2026

• The merger protocol between KDP and JDE Peet's, whereby KDP agreed to commence a tender offer to acquire all of the issued ordinary shares, excluding ordinary shares held in treasury, of JDE Peet's

• Collectively, the senior unsecured notes issued by KDP (excluding the JDE Peet's Notes and the Maple Notes)

Text removed vs the prior filing · source: 10-Q · 2026-04-23

• Collectively, the senior unsecured notes excluding the Maple Notes

Text added vs the prior filing · source: 10-Q · 2026-08-10

• IEPSMexico’s Special Tax on Production and Services related to sugar-sweetened beverages and noncaloric sweetened drinks

• JDE Peet'sJDE Peet's N.V., which became JDEP Coffee B.V. on May 1, 2026

• JDE Peet's AcquisitionThe acquisition of JDE Peet's on April 1, 2026

• The merger protocol between KDP and JDE Peet's, whereby KDP agreed to commence a tender offer to acquire all of the issued ordinary shares, excluding ordinary shares held in treasury, of JDE Peet's

• Collectively, the senior unsecured notes issued by KDP (excluding the JDE Peet's Notes and the Maple Notes)

Text removed vs the prior filing · source: 10-Q · 2026-04-23

• Collectively, the senior unsecured notes excluding the Maple Notes

Text added vs the prior filing · source: 10-Q · 2026-08-10

• In addition to other information set forth in this Quarterly Report on Form 10-Q, you should carefully consider the following risk factors, which have been updated from the risk factors set forth in Part I, Item 1A in our Annual Report.

• •Disruption of our manufacturing and distribution operations or supply chain, including increased input costs, may adversely affect our financial condition or results of operations.

• •We operate in highly competitive categories, and any inability to compete effectively could adversely impact our business.

• •We may not effectively respond to changing consumer preferences and shopping behavior, which could impact our financial results.

• •Concerns about the safety, quality, or health effects of our products could negatively affect our business.

Text removed vs the prior filing · source: 10-Q · 2026-04-23

• 2025 Revolving Credit AgreementKDP’s revolving credit agreement, which was executed in March 2025 and amended in September 2025

• Annual Report on Form 10-K for the year ended December 31, 2025

• AP Pour Holdings, L.P., together with its affiliates, who are party to the Preferred Investment Agreement

• Athletic BrewingAthletic Brewing Holding Company, LLC, an equity method investment of KDP

• Bridge Credit AgreementThe bridge credit agreement entered into on August 24, 2025, amended on December 18, 2025 and terminated on March 30, 2026

Text added vs the prior filing · source: 10-Q · 2026-08-10

• IEPSMexico’s Special Tax on Production and Services related to sugar-sweetened beverages and noncaloric sweetened drinks

• JDE Peet'sJDE Peet's N.V., which became JDEP Coffee B.V. on May 1, 2026

• JDE Peet's AcquisitionThe acquisition of JDE Peet's on April 1, 2026

• The merger protocol between KDP and JDE Peet's, whereby KDP agreed to commence a tender offer to acquire all of the issued ordinary shares, excluding ordinary shares held in treasury, of JDE Peet's

• Collectively, the senior unsecured notes issued by KDP (excluding the JDE Peet's Notes and the Maple Notes)

Text removed vs the prior filing · source: 10-Q · 2026-04-23

• Collectively, the senior unsecured notes excluding the Maple Notes