Questions: Income Statement in USD millions Period Ending Total Revenue Cost of Goods Sold Gross Profit Operating Expenses Research Development Selling General and Administrative Others Total Operating Expenses Operating Income or Loss Income from Continuing Operations Total Other Income/Expenses Net Earnings Before Interest And Taxes Interest Expense Income Before Tax Income Tax Expense Net Income Basic Net Income Per Share Diluted Net Income Per Share 31-Dec-23 31-Dec-22 31-Dec-21 45,754 43,004 38,655 18,520 18,000 15,357 27,234 25,004 23,298 13,972 12,880 12,144 1,951 1,215 846 15,923 14,095 12,990 11,311 10,909 10,308 2,261 1,210 3,438 13,572 12,119 13,746 620 433 1,321 12,952 11,686 12,425 2,249 2,115 2,621 10,703 9,571 9,804 2.48 2.20 2.26 2.47 2.19 2.25

To analyze the provided income statement data for Coca-Cola and Pepsico, we will focus on the key financial metrics and compare the performance of both companies over the three-year period ending on December 31, 2023, 2022, and 2021.

• 2023: $45,754 million
• 2022: $43,004 million
• 2021: $38,655 million

Coca-Cola's total revenue has shown a consistent increase over the three years, indicating growth in sales.

• 2023: $18,520 million
• 2022: $18,000 million
• 2021: $15,357 million

The COGS has also increased, but at a slower rate compared to total revenue, which is a positive sign for gross profit margins.

• 2023: $27,234 million
• 2022: $25,004 million
• 2021: $23,298 million

Gross profit has increased each year, reflecting the company's ability to manage production costs relative to revenue.

• Research Development:
  • 2023: $13,972 million
  • 2022: $12,880 million
  • 2021: $12,144 million
• Selling General and Administrative:
  • 2023: $1,951 million
  • 2022: $1,215 million
  • 2021: $846 million

Total operating expenses have increased, with significant investments in research and development.

• 2023: $11,311 million
• 2022: $10,909 million
• 2021: $10,308 million

Operating income has shown steady growth, indicating efficient management of operating expenses.

• 2023: $10,703 million
• 2022: $9,571 million
• 2021: $9,804 million

Net income has increased, although there was a slight dip in 2022 compared to 2021.

• Basic:
  • 2023: $2.48
  • 2022: $2.20
  • 2021: $2.26
• Diluted:
  • 2023: $2.47
  • 2022: $2.19
  • 2021: $2.25

EPS has increased, reflecting higher profitability per share.

• 2023: $9,073 million
• 2022: $8,978 million
• 2021: $7,679 million

Pepsico's total revenue has also shown growth over the three years.

• 2023: $9,073 million
• 2022: $8,978 million
• 2021: $7,679 million

Net income has increased consistently, indicating strong financial performance.

• Revenue Growth: Coca-Cola has a significantly higher total revenue compared to Pepsico, but both companies have shown consistent growth.
• Net Income: Coca-Cola's net income is higher than Pepsico's, but both companies have demonstrated an upward trend.
• EPS: Coca-Cola's EPS is higher, indicating better profitability per share.

Both Coca-Cola and Pepsico have shown strong financial performance over the three-year period. Coca-Cola has higher total revenue and net income, while Pepsico has also demonstrated consistent growth. The increase in EPS for both companies indicates improved profitability for shareholders.