Keurig Dr Pepper Inc 2025年季度报告

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934FOR THE QUARTERLY PERIOD ENDEDSEPTEMBER 30, 2025OR Keurig Dr Pepper Inc. (Exact name of registrant as specified in its charter) Delaware 98-0517725 53 South Avenue,Burlington,Massachusetts01803(Address of principal executive offices)877208-9991(Registrant's telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Name of each exchange on which registered Trading Symbol The Nasdaq Stock Market LLC KDP Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant wasrequired to file such reports), and (2)has been subject to such filing requirements for the past 90days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule405 of RegulationS-T (§232.405 of this chapter) during the preceding 12months (or for suchshorter period that the registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, asmaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer", "acceleratedfiler", "smaller reporting company", and "emerging growth company" in Rule12b-2 of the Securities Exchange Act of 1934. Large Accelerated Filer☒Accelerated Filer☐Non-Accelerated Filer☐Smaller Reporting Company☐Emerging Growth Company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transitionperiod for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of theExchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Securities Exchange Actof 1934). Yes☐No☒ As of October23, 2025, there were1,358,583,125shares of the registrant's common stock, par value $0.01 per share,outstanding. KEURIG DR PEPPER INC.FORM 10-QTABLE OF CONTENTS PART I - FINANCIAL INFORMATION Item 1Legal Proceedings48Item 1ARisk Factors48Item 2Unregistered Sales of Equity Securities and Use of Proceeds55Item 5Other Information55Item 6Exhibits56 KEURIG DR PEPPER INC.FORM 10-QMASTER GLOSSARY KEURIG DR PEPPER INC.FORM 10-QMASTER GLOSSARY PART I - FINANCIAL INFORMATION Item 1. Financial Statements (Unaudited) KEURIG DR PEPPER INC.CONDENSED CONSOLIDATED BALANCE SHEETS(UNAUDITED) KEURIG DR PEPPER INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(UNAUDITED) KEURIG DR PEPPER INC.CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(UNAUDITED, CONTINUED) KEURIG DR PEPPER INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(UNAUDITED) 1.General ORGANIZATION References in this Quarterly Report on Form 10-Q to "KDP", "we", "us", and "our", refer to Keurig Dr Pepper Inc. and allwholly-owned subsidiaries included in the unaudited condensed consolidated financial statements. Definitions of termsused in this Quarterly Report on Form 10-Q are included within the Master Glossary. This Quarterly Report on Form 10-Q refers to some of our owned or licensed trademarks, trade names, and servicemarks, which are referred to as our brands. All of the product names included herein are either KDP registered trademarksor those of our licensors. BASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S.GAAPfor interim financial information and in accordance with the instructions to Form 10-Q and Article 10 ofRegulationS-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for completeconsolidated financial statements. In the opinion of management, all adjustments, consisting principally of normalrecurring adjustments, considered necessary for a fair presentation have been included. These unaudited condensedconsolidatedfinancial statements should be read in conjunction with our consolidated financial statements andaccompanying notes included in our Annual Report. References to the "third quarter" indicate the quarterly periods endedSeptember 30, 2025and 2024. USE OF ESTIMATES The process of preparing our unaudited condensed consolidated financial statements in conformity with U.S. GAAPrequires the use of estimates and judgments that affect reported amounts. These estimates and judgments are based onhistorical experience, future expectations, and other factors and assumptions we believe to be reasonable under thecircumstances. These estimates and judgments are reviewed on an ongoing basis and are revised when necessary.Changes in estimates are recorded in the period of change. Actual amounts may differ from these estimates. RECLASSIFICATIONS We have recl