Operating

Keurig Dr Pepper·Cash Flow Statement·23 metrics

Breakdown

Metric	Q2 '24	Q3 '24	Q4 '24	Q1 '25	Q2 '25	Q3 '25	Q4 '25	Q1 '26
Net cash from operating activities	$657M	$628M	$849M	$209M	$431M	$639M	$712M	$281M
Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity, Increase (Decrease) in Operating Capital	$141M	$178M	—	$408M	$327M	$136M	$132M	$275M
Net income	$515M	$616M	$0	$517M	$547M	$662M	$353M	$270M
Increase (Decrease) in Other Operating Assets	$44M	$24M	$23M	$110M	$26M	$47M	$33M	$216M
Other current liabilities	—	—	—	-$173M	—	-$47M	-$72M	-$129M
Change in accounts receivable	$109M	$81M	$61M	-$164M	$161M	$19M	$186M	-$118M
Depreciation	$106M	$103M	$112M	$106M	$111M	$119M	$119M	$114M
Change in inventories	$54M	$101M	—	$239M	$177M	$102M	—	$101M
Amortization expense related to capitalized debt issuance costs	—	—	—	$3M	—	—	—	$98M
Settlements of interest rate contracts	—	—	$0	$0	—	—	—	$70M
Unrealized Gain (Loss) on Derivatives and Commodity Contracts	-$26M	—	—	$62M	—	$71M	—	$64M
Change in income taxes payable/receivable	-$24M	$27M	$140M	-$27M	-$59M	—	-$114M	$43M
Amortization of capitalized software and acquired intangible assets	$34M	$33M	$33M	$34M	$34M	$33M	$37M	$37M
Amortization	$65M	$39M	$38M	$23M	$40M	$54M	$43M	$34M
Stock-based compensation	$24M	$24M	$22M	$22M	$23M	$25M	$27M	$30M
Unrealized Gain (Loss), Foreign Currency Transaction, before Tax	-$8M	$0	-$19M	$0	$6M	-$13M	$13M	$20M
Other Noncash Income (Expense)	-$2M	-$4M	$9M	$5M	$0	-$8M	-$23M	$14M
Provision for Other Losses	$15M	$21M	$20M	$11M	$13M	$18M	$18M	$11M
Change in other liabilities	$6M	-$38M	$37M	-$23M	$16M	$20M	$160M	$10M
Gain (loss) on sale of assets	-$17M	-$1M	—	$6M	—	—	—	-$10M
Earned equity from distribution arrangements	$23.5M	$23.5M	$23.5M	$10M	—	—	—	$8M
Deferred income taxes	-$4M	$4M	-$275M	-$6M	$10M	-$43M	$84M	$4M
Impairment charges	$103M	$103M	$103M	$19.5M	$19.5M	$19.5M	$19.5M	—