KDP · 8-K · 20260806PR000048

Operating Cash Flow Trends

Keurig Dr Pepper Inc. · 2026-08-06 · Importance 69 · Surprise 64

Second-quarter operating cash flow totaled $895 million and free cash flow totaled $714 million. First-half operating cash flow increased to $1.18 billion from $640 million, while first-half free cash flow increased to $898 million from $427 million. First-half cash flow included $314 million of inventory step-up amortization, $161 million of intangible amortization and $109 million of deferred financing-cost amortization. Purchases of property, plant and equipment rose to $297 million from $226 million in the first half, while acquisition spending reached $16.62 billion.

Key facts

• Q2 operating cash flow: $895 million source
• Q2 free cash flow: $714 million source
• First six months net cash provided by operating activities: $1,176 million source
• First six months free cash flow: $898 million source