PEP — what changed in the latest 10-Q
A section-by-section comparison of PEP's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-10-08 vs the prior 10-Q · 2026-07-09
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +52 | −49 | ~31 | 66 |
| Controls & procedures | Text added/removed | 0 | 0 | ~2 | 1 |
| Legal proceedings | Text added/removed | 0 | 0 | ~1 | 2 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | 0 | 0 | ~1 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Market risk (Item 3)
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-10-08
accounted for 5% of our consolidated assets, including 20% of our consolidated cash and cash equivalents, and 42% of our accumulated currency translation adjustment loss as of September 5, 2026.
See Note 8 to our condensed consolidated financial statements in this Form 10-Q for the fair values of our financial instruments as of September 5, 2026 and December 27, 2025 and Note 9 to our consolidated financial statements in our 2025 Form 10-K for a discussion of these items.
The imposition of tariffs (including U.S. tariffs imposed or threatened to be imposed on China, the European Union, Canada and Mexico and other countries and any tariffs imposed by such countries) have impacted and could continue to impact our supply chain resulting in increased input costs, includi…
Operating profit increased 19%, primarily driven by productivity savings, a favorable net impact of acquisition and divestiture-related charges/credits, effective net pricing, a 4-percentage-point favorable impact of tariff refunds and a favorable impact of net mark-to-market gains on commodity deri…
Other pension and retiree medical benefits expense increased $140 million, primarily due to a settlement charge as a result of lump sum distributions exceeding the total of annual service and interest cost.
Text removed vs the prior filing · source: 10-Q · 2026-07-09
See Note 8 to our condensed consolidated financial statements in this Form 10-Q for the fair values of our financial instruments as of June 13, 2026 and December 27, 2025 and Note 9 to our consolidated financial statements in our 2025 Form 10-K for a discussion of these items.
The imposition of tariffs (including U.S. tariffs imposed or threatened to be imposed on China, the European Union, Canada and Mexico and other countries and any tariffs imposed by such countries) have impacted and could continue to impact our supply chain resulting in increased input costs, includi…
Operating profit increased 125%, primarily driven by prior-year impairment charges related to the Rockstar and Be & Cheery brands, productivity savings, effective net pricing, lower restructuring charges and a favorable net impact of acquisition and divestiture-related charges/credits, partially off…
Other pension and retiree medical benefits income increased $17 million, primarily reflecting the impact of changes in discount rates and higher expected return on plan assets.
Net interest expense and other decreased $30 million, due to higher average cash balances, higher gains on the market value of investments used to economically hedge a portion of our deferred compensation liability and lower interest rates on average debt balances, partially offset by higher average…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice