Pepsi 2015 Annual Report Download - page 77

Download and view the complete annual report

Please find page 77 of the 2015 Pepsi annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 168

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168

Table of Contents
60
(c) Represents the impact of the exclusion of the fourth quarter 2014 results of our Venezuelan businesses, which were deconsolidated effective
as of the end of the third quarter of 2015.
(d) Amounts may not sum due to rounding.
Organic Revenue Growth
Organic revenue growth is a significant measure we use to monitor net revenue performance. However, it is
not a measure provided by U.S. GAAP. Therefore, this measure is not, and should not be viewed as, a substitute
for U.S. GAAP net revenue growth. In order to compute our organic revenue growth results, we exclude the
impact of acquisitions, divestitures and other structural changes, including the Venezuela deconsolidation,
and foreign exchange translation from reported net revenue growth. See also “Non-GAAP Measures.”
2015 FLNA QFNA NAB
Latin
America ESSA AMENA Total
Reported Growth 2% (1)% 2% (13)% (22)% (4)% (5)%
% Impact of:
Foreign exchange translation 1 2 1 27 24 5 10
Acquisitions and divestitures —— —— — 3 —
Venezuela deconsolidation(a) —— — 6—— 1
Organic Growth(b) 3% 1% 3% 20% 2% 4% 5%
2014 FLNA QFNA NAB
Latin
America ESSA AMENA Total
Reported Growth 3 % (2 )% — % 1 % (3 )% 3% —%
% Impact of:
Foreign exchange translation 110.59833
Acquisitions and divestitures — — — — — 1.5 —
Organic Growth(b) 3% (1)% 1% 10% 5% 7% 4%
(a) Represents the impact of the exclusion of the fourth quarter 2014 results of our Venezuelan businesses, which were deconsolidated effective
as of the end of the third quarter of 2015.
(b) Amounts may not sum due to rounding.