Pepsi 2014 Annual Report Download - page 31

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11
Employees
As of December 27, 2014, we employed approximately 271,000 people worldwide, including approximately
107,000 people within the United States. Our employment levels are subject to seasonal variations. We or
our subsidiaries are a party to numerous collective bargaining agreements. We expect that we will be able
to renegotiate these collective bargaining agreements on satisfactory terms when they expire. We believe
that relations with our employees are generally good.
Available Information
We are required to file annual, quarterly and current reports, proxy statements and other information with
the U.S. Securities and Exchange Commission (SEC). The public may read and copy any materials that we
file with the SEC at the SEC’s Public Reference Room at 100 F Street, N.E., Washington, D.C. 20549.
Information on the operation of the Public Reference Room may be obtained by calling the SEC at 1-800-
SEC-0330. In addition, the SEC maintains an Internet site that contains reports, proxy and information
statements, and other information regarding issuers that file electronically with the SEC at
http://www.sec.gov.
Our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, proxy
statements and amendments to those documents filed or furnished pursuant to Section 13(a) or 15(d) of the
Securities Exchange Act of 1934, as amended (Exchange Act), are also available free of charge on our Internet
site at http://www.pepsico.com as soon as reasonably practicable after such reports are electronically filed
with or furnished to the SEC. The information on our website is not, and shall not be deemed to be, a part
hereof or incorporated into this or any of our other filings with the SEC.
Item 1A. Risk Factors.
In addition to the other information set forth in this Annual Report on Form 10-K, you should carefully
consider the following factors that could have a material adverse effect on our business, financial condition,
results of operations or the price of our common stock. The following information should be read together
and in conjunction with “Forward-Looking Statements,” “Item 1. Business,” “Item 7. Management’s
Discussion and Analysis of Financial Condition and Results of Operations,” our consolidated financial
statements and the accompanying notes thereto. The risks below are not the only risks we face. Additional
risks and uncertainties not currently known to us or that we currently deem to be immaterial may also adversely
affect our business, financial condition, results of operations or the price of our common stock.
Demand for our products may be adversely affected by changes in consumer preferences or any inability
on our part to innovate or market our products effectively and any significant reduction in demand could
adversely affect our business, financial condition or results of operations.
We are a global food and beverage company operating in highly competitive categories and we rely on
continued demand for our products. To generate revenues and profits, we must sell products that appeal to
our customers and to consumers. Any significant changes in consumer preferences or any inability on our
part to anticipate or react to such changes could result in reduced demand for our products and erosion of
our competitive and financial position and could adversely affect our business, financial condition or results
of operations. Our success depends on: our ability to anticipate and effectively respond to shifts in consumer
trends, including increased demand for products that meet the needs of consumers who are concerned with
health and wellness, convenience and location of origin or source of the products they consume; our product
quality; our ability to extend our portfolio of convenient beverages, foods and snacks in growing markets;
our ability to develop or acquire new products that are responsive to certain consumer preferences, including
reducing sodium, added sugars and saturated fat; our ability to develop a broader portfolio of product choices
and increase non-carbonated beverage offerings and alternatives to traditional carbonated beverage offerings;