lso holds long-term licenses to use trademarks in connection with its products in certain markets, including Dole and Ocean Spray. The company also distributes Rockstar Energy drinks, Muscle Milk protein shakes and various DPSG brands, including Dr Pepper in certain markets, Crush and Schweppes. Joint ventures in which the company has an ownership interest either own or have the right to use certain trademarks, such as Lipton, Sabra and Starbucks. Seasonality The company’s businesses are affected by seasonal variations. For instance, the company’s beverage sales are higher during the warmer months and certain food and dairy sales are higher in the cooler months. Weekly beverage and snack sales are generally highest in the third quarter (year ended December 2015) due to seasonal and holiday-related patterns, and generally lowest in the first quarter. Research and Development The company’s research and development costs were $754 million in 2015. Regulatory Environment and Environmental Compliance The company is required to comply with various U.S. laws and regulations, including but not limited to, the Federal Food, Drug and Cosmetic Act and various state laws governing food safety; the Food Safety Modernization Act; the Occupational Safety and Health Act; the Clean Air Act; the Clean Water Act; the Resource Conservation and Recovery Act; the Comprehensive Environmental Response, Compensation and Liability Act; the Federal Motor Carrier Safety Act; the Lanham Act; various federal and state laws and regulations governing competition and trade practices; various federal and state laws and regulations governing the company’s employment practices, including those related to equal employment opportunity, such as the Equal Employment Opportunity Act and the National Labor Relations Act; customs and foreign trade laws and regulations; and laws regulating the sale of certain of the company’s products in schools. In the company’s business dealings, the company is also required to comply with the Foreign Corrupt Practices Act, the U.K. Bribery Act, and the Trade Sanctions Reform and Export Enhancement Act. The company is also subject to various state and local statutes and regulations, including state consumer protection laws, such as Proposition 65 in California, which requires that, unless a safe harbor level exists and has been met, a specific warning appear on any product that contains a substance listed by the state of California as having been found to cause cancer or birth defects. In the United States, the company’s facilities must comply with the Clean Air Act; the Clean Water Act; the Comprehensive Environmental Response, Compensation and Liability Act; the Resource Conservation and Recovery Act; and other federal and state laws regarding handling, storage, release and disposal of wastes generated on-site and sent to third-party owned and operated off-site licensed facilities and the company’s facilities outside the United States must comply with similar laws and regulations. Competition In many countries in which the company’s products are sold, including the United States, The Coca-Cola Company is the company’s primary beverage competitor. Other beverage, food and snack competitors include, but are not limited to, DPSG; Kellogg Company; The Kraft Heinz Company; Mondelez International, Inc.; Monster Beverage Corporation; Nestle S.A.; Red Bull GmbH; and Snyder’s-Lance, Inc. History PepsiCo, Inc. was founded in 1898. The company was incorporated in Delaware in 1919 and was reincorporated in North Carolina in 1986.
pepsico inc (PEP:EN Amsterdam)
700 Anderson Hill Road
Purchase, NY 10577
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