impact on our business or financial results. See “Our Financial Results – Our Liquidity and Capital
Resources” in “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of
Operations” for further information.
Our Brands and Intellectual Property Rights
We own numerous valuable trademarks which are essential to our worldwide businesses, including
Agusha, Amp Energy, Aquafina, Aquafina Flavorsplash, Arto Lifewtr, Baja Blast, BaiCaoWei, Bare,
Bokomo, bubly, Cap’n Crunch, Ceres, Cheetos, Chester’s, Chipsy, Chokis, Chudo, Cracker Jack,
Crunchy, Diet Mountain Dew, Diet Mug, Diet Pepsi, Diet 7UP (outside the United States), Domik v
Derevne, Doritos, Driftwell, Duyvis, Elma Chips, Emperador, Evolve, Frito-Lay, Fritos, Fruktovy Sad,
G2, Gamesa, Gatorade, Gatorade Fit, Gatorade Zero, Gatorlyte, Grandma’s, H2oh!, Hard MTN Dew,
Health Warrior, Imunele, J7, Kas, Kurkure, Lay’s, Life, Lifewtr, Liquifruit, Lubimy, Manzanita Sol,
Marias Gamesa, Matutano, Mirinda, Miss Vickie’s, Moirs, Mother’s, Mountain Dew, Mountain Dew
Code Red, Mountain Dew Game Fuel, Mountain Dew Kickstart, Mountain Dew Zero Sugar, MTN Dew
Energy, Mug, Munchies, Muscle Milk, Near East, Off the Eaten Path, Paso de los Toros, Pasta Roni, Pearl
Milling Company, Pepsi, Pepsi Black, Pepsi Max, Pepsi Zero Sugar, PopCorners, Pronutro, Propel,
Quaker, Quaker Chewy, Quaker Simply Granola, Rice-A-Roni, Rockstar Energy, Rold Gold, Ruffles,
Sabritas, Safari, Sakata, Saladitas Gamesa, San Carlos, Sandora, Santitas, Sasko, 7UP (outside the United
States), 7UP Free (outside the United States), Sierra Mist, Sierra Mist Zero Sugar, Simba, Smartfood,
Smith’s, Snack a Jacks, SoBe, SodaStream, Sonric’s, Spekko, Stacy’s, Starry, Sting, Stubborn Soda,
SunChips, Toddy, Toddynho, Tostitos, V Water, Vesely Molochnik, Walkers, Weetbix, White Star, Ya
and Yachak. We also hold long-term licenses to use valuable trademarks in connection with our products
in certain markets, including Ocean Spray. We also distribute Celsius energy drinks and various Keurig Dr
Pepper Inc. brands, including Dr Pepper in certain markets, Crush and Schweppes. Joint ventures in which
we have an ownership interest either own or have the right to use certain trademarks, such as Lipton,
Sabra and Starbucks. In addition, in the first quarter of 2022, we sold our Tropicana, Naked and other
select juice brands to PAI Partners, while retaining a 39% noncontrolling interest in TBG, operating across
North America and Europe. In the United States, PepsiCo acts as the exclusive distributor for TBG’s
portfolio of brands for small-format and foodservice customers with chilled DSD. See Note 13 to our
consolidated financial statements for further information. In 2022, we began to distribute Hard MTN Dew,
an alcoholic beverage manufactured and owned by the Boston Beer Company. We have licensed the use
of the Hard MTN Dew trademark to the Boston Beer Company, which has appointed us as their distributor
for this product. Trademarks remain valid so long as they are used properly for identification purposes,
and we emphasize correct use of our trademarks. We have authorized, through licensing arrangements, the
use of many of our trademarks in such contexts as convenient food joint ventures and beverage bottling
appointments. In addition, we license the use of our trademarks on merchandise that is sold at retail, which
enhances brand awareness.
We either own or have licenses to use a number of patents which relate to certain of our products, their
packaging, the processes for their production and the design and operation of various equipment used in
our businesses. Some of these patents are licensed to others.
Seasonality
Our businesses are affected by seasonal variations. Our beverage and convenient food sales are generally
highest in the third quarter due to seasonal and holiday-related patterns and generally lowest in the first
quarter. However, taken as a whole, seasonality has not had a material impact on our consolidated
financial results.
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