For the quarter ending 2026-03-31, KDP had $17,822M increase in cash & cash equivalents over the period. $165M in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net income | 270 | 353 | 662 | 547 |
| Depreciation expense | 114 | 119 | 119 | 111 |
| Amortization of intangibles | 37 | 37 | 33 | 34 |
| Other amortization expense | 34 | 43 | 54 | 40 |
| Provision for sales returns | 11 | 18 | 18 | 13 |
| Deferred income taxes | 4 | 84 | -43 | 10 |
| Employee stock-based compensation expense | 30 | 27 | 25 | 23 |
| Amortization of debt issuance costs | 98 | - | - | - |
| Loss (gain) on disposal of property, plant, and equipment | -10 | -1 | -3 | 0 |
| Unrealized gain on foreign currency | 20 | 13 | -13 | 6 |
| Unrealized (gain) loss on derivatives | - | 1 | - | - |
| Unrealized gain on derivatives | 22 | - | 84 | -42 |
| Settlements of interest rate contracts | 70 | 0 | - | - |
| Earnings of equity method investments | 16 | 19 | 35 | 17 |
| Earned equity from distribution arrangements | 8 | 54 | - | - |
| Impairment of goodwill | - | 0 | - | - |
| Earned equity from distribution arrangements | - | - | 30 | 45 |
| Impairment of intangible assets (excluding goodwill) | - | 78 | - | - |
| Other, net | 14 | -23 | -8 | 3 |
| Trade accounts receivable | -118 | 186 | 19 | 161 |
| Inventories | 101 | -113 | 102 | 177 |
| Income taxes receivable and payable, net | 43 | -114 | 59 | -59 |
| Other current and non-current assets | 216 | 33 | 47 | 26 |
| Accounts payable and accrued expenses | -129 | -72 | -47 | 80 |
| Other current and non-current liabilities | 10 | 160 | 20 | 16 |
| Net cash provided by operating activities | 281 | 712 | 639 | 431 |
| Acquisition of business, net of cash acquired | - | 35 | 3 | 111 |
| Purchases of property, plant, and equipment | 116 | 148 | 112 | 106 |
| Proceeds from sales of property, plant, and equipment | 19 | 0 | 1 | 0 |
| Purchases of intangibles | 2 | 1 | 0 | 2 |
| Investments in unconsolidated affiliates | - | 0 | 0 | 1 |
| Other, net | -1 | -1 | -2 | 1 |
| Net cash used in investing activities | -98 | -183 | -112 | -221 |
| Proceeds from issuance of senior long-term debt | 6,003 | 0 | 0 | 2,000 |
| Repayments of notes | - | 500 | 0 | 529 |
| Net (repayment) issuance of commercial paper | -21 | 819 | -86 | -1,495 |
| Proceeds from term loan | - | 0 | - | - |
| Proceeds from delayed draw term loan | 3,626 | - | - | - |
| Repayment of term loan | 0 | 0 | 0 | 0 |
| Proceeds from issuance of convertible preferred stock | 4,489 | - | - | - |
| Proceeds from noncontrolling interests | 3,948 | - | - | - |
| Proceeds from structured payables | 3 | 8 | 7 | 8 |
| Repayments of structured payables | 7 | 13 | 148 | 156 |
| Cash dividends paid | 312 | 313 | 312 | 313 |
| Repurchases of common stock, inclusive of excise tax obligation | - | 0 | 0 | 9 |
| Tax withholdings related to net share settlements | 25 | 2 | 1 | 5 |
| Payments on finance leases | 34 | 33 | 33 | 38 |
| Deferred financing charges paid | 28 | 31 | 103 | - |
| Other, net | -3 | 0 | 11 | -13 |
| Cash provided by (used in) financing activity, including discontinued operation, total | 17,639 | -65 | -525 | -402 |
| Cash, cash equivalent, restricted cash, and restricted cash equivalent, period increase (decrease), excluding exchange rate effect, including discontinued operation, total | 17,822 | 464 | 2 | -192 |
| Effect of exchange rate on cash, cash equivalent, restricted cash, and restricted cash equivalent, continuing operation | -150 | 11 | 2 | 6 |
| Cash, cash equivalent, restricted cash, and restricted cash equivalent, continuing operation, beginning balance | 1,044 | 608 | 608 | 608 |
| Cash, cash equivalent, restricted cash, and restricted cash equivalent, continuing operation, ending balance | 18,716 | 475 | 4 | -186 |
Keurig Dr Pepper Inc. (KDP)
Keurig Dr Pepper Inc. (KDP)