Pepsi 2015 Annual Report Download - page 20

Table of Contents
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See Note 1 to our consolidated financial statements for financial information about our divisions and
geographic areas. North America includes the United States and Canada. See also “Item 1A. Risk Factors”
below for a discussion of certain risks associated with our operations, including outside the United States.
Frito-Lay North America
Either independently or in conjunction with third parties, FLNA makes, markets, distributes and sells branded
snack foods. These foods include Lay’s potato chips, Doritos tortilla chips, Cheetos cheese-flavored snacks,
Tostitos tortilla chips, branded dips, Fritos corn chips, Ruffles potato chips and Santitas tortilla chips. FLNA’s
branded products are sold to independent distributors and retailers. In addition, FLNA’s joint venture with
Strauss Group makes, markets, distributes and sells Sabra refrigerated dips and spreads. FLNA’s net revenue
was $14.8 billion, $14.5 billion and $14.1 billion in 2015, 2014 and 2013, respectively, and approximated
23% of our total net revenue in 2015, 22% of our total net revenue in 2014 and 21% of our total net revenue
in 2013.
Quaker Foods North America
Either independently or in conjunction with third parties, QFNA makes, markets, distributes and sells cereals,
rice, pasta and other branded products. QFNA’s products include Quaker oatmeal, Aunt Jemima mixes and
syrups, Quaker Chewy granola bars, Cap’n Crunch cereal, Quaker grits, Life cereal, Rice-A-Roni side dishes,
Quaker rice cakes, Quaker natural granola and Quaker oat squares. These branded products are sold to
independent distributors and retailers. QFNA’s net revenue was $2.5 billion in 2015 and $2.6 billion in both
2014 and 2013, and approximated 4% of our total net revenue in each of 2015, 2014 and 2013.
North America Beverages
Either independently or in conjunction with third parties, NAB makes, markets, distributes and sells beverage
concentrates, fountain syrups and finished goods under various beverage brands including Pepsi, Gatorade,
Mountain Dew, Diet Pepsi, Aquafina, Diet Mountain Dew, Tropicana Pure Premium, Sierra Mist and Mug.
NAB also, either independently or in conjunction with third parties, makes, markets and sells ready-to-drink
tea and coffee products through joint ventures with Unilever (under the Lipton brand name) and Starbucks,
respectively. Further, NAB manufactures and distributes certain brands licensed from Dr Pepper Snapple
Group, Inc. (DPSG), including Dr Pepper, Crush and Schweppes, and certain juice brands licensed from
Dole Food Company, Inc. (Dole) and Ocean Spray Cranberries, Inc. (Ocean Spray). NAB operates its own
bottling plants and distribution facilities and sells branded finished goods directly to independent distributors
and retailers. NAB also sells concentrate and finished goods for our brands to authorized and independent
bottlers, who in turn sell our branded finished goods to independent distributors and retailers in certain
markets. NAB’s net revenue was $20.6 billion, $20.2 billion and $20.1 billion in 2015, 2014 and 2013,
respectively, and approximated 33% of our total net revenue in 2015 and 30% of our total net revenue in
both 2014 and 2013.
Latin America
Either independently or in conjunction with third parties, Latin America makes, markets, distributes and sells
a number of snack food brands including Doritos, Cheetos, Marias Gamesa, Ruffles, Emperador, Saladitas,
Sabritas, Lay’s, Rosquinhas Mabel and Tostitos, as well as many Quaker-branded cereals and snacks. Latin
America also, either independently or in conjunction with third parties, makes, markets, distributes and sells
beverage concentrates, fountain syrups and finished goods under various beverage brands including Pepsi,
7UP, Gatorade, Mirinda, Diet 7UP, Manzanita Sol and Diet Pepsi. These branded products are sold to
authorized bottlers, independent distributors and retailers. Latin America also, either independently or in
conjunction with third parties, makes, markets and sells ready-to-drink tea through an international joint
venture with Unilever (under the Lipton brand name). Latin America’s net revenue was $8.2 billion, $9.4