Consolidated Statement of Income PepsiCo, Inc. and Subsidiaries Fiscal years ended December 28, 2019, December 29, 2018 and December 30, 2017 (in millions except per share amounts) 2019 2018 Net Revenue Cost of sales $ 67,161 $ 64,661 30,132 29,381 Gross profit 37,029 35,280 Selling, general and administrative expenses 26,738 25,170 Operating Profit 10,291 10,110 Other pension and retiree medical benefits (expense)/income (44) 298 Interest expense (1,135) (1,525) Interest income and other 200 306 Income before income taxes 9,312 9,189 Provision for/(benefit from) income taxes (See Note 5) 1,959 (3,370) Net income 7,353 12,559 Less: Net income attributable to noncontrolling interests 39 44 Net Income Attributable to PepsiCo $ 7,314 $ 12,515 Net Income Attributable to PepsiCo per Common Share Basic 5.23 $ 8.84 Diluted $ 5.20 $ 8.78 Weighted-average common shares outstanding Basic 1,399 1,415 Diluted 1,407 1,425