Summary
This Form 8-K filing by PepsiCo, Inc. (PEP) on July 29, 2003, primarily serves to incorporate by reference the financial statements of its subsidiary, Bottling Group, LLC. These statements cover the 12 and 24-week periods ending June 14, 2003, and June 15, 2002, as filed in Bottling Group's Form 10-Q on July 28, 2003. The incorporation is a regulatory requirement due to PepsiCo's guarantee of up to $1 billion in Senior Notes issued by Bottling Group, for which a registration statement became effective on May 29, 2003. Investors should note that PepsiCo explicitly states it had no responsibility for the preparation or independent review of these subsidiary financial statements and they were not subject to PepsiCo's internal controls.
Key Highlights
- 1PepsiCo, Inc. is incorporating by reference the financial statements of its subsidiary, Bottling Group, LLC.
- 2The incorporated financial statements cover the 12 and 24-week periods ending June 14, 2003, and June 15, 2002.
- 3This action is a result of PepsiCo's guarantee of up to $1,000,000,000 in principal amount of Bottling Group's Senior Notes.
- 4PepsiCo clarifies it did not prepare, independently review, or apply its internal controls to the Bottling Group financial statements.
- 5The referenced financial statements were filed by Bottling Group, LLC in its Quarterly Report on Form 10-Q on July 28, 2003.
- 6An Accountants' Acknowledgment is listed as an exhibit to this filing.