Consolidated Balance Sheet
(in millions except per share amount)
PepsiCo, Inc. and Subsidiaries
December 30, 2000 and December 25, 1999

                                                                        2000            1999
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ASSETS

Current Assets
Cash and cash equivalents.....................................       $   864         $   964
Short-term investments, at cost...............................           466              92
                                                                     --------        --------
                                                                       1,330           1,056

Accounts and notes receivable, net............................         1,799           1,704
Inventories...................................................           905             899
Prepaid expenses and other current assets.....................           570             514
                                                                     --------        --------
   Total Current Assets.......................................         4,604           4,173

Property, Plant and Equipment, net............................         5,438           5,266
Intangible Assets, net........................................         4,485           4,735
Investments in Unconsolidated Affiliates......................         2,978           2,846
Other Assets..................................................           834             531
                                                                     --------        --------
     Total Assets.............................................       $18,339         $17,551
                                                                     ========        ========

LIABILITIES AND SHAREHOLDERS' EQUITY

Current Liabilities
Short-term borrowings.........................................       $    72         $   233
Accounts payable and other current liabilities................         3,815           3,399
Income taxes payable..........................................            48             156
                                                                     --------        --------
   Total Current Liabilities..................................         3,935           3,788

Long-Term Debt................................................         2,346           2,812
Other Liabilities.............................................         3,448           2,861
Deferred Income Taxes.........................................         1,361           1,209

Shareholders' Equity
Capital stock, par value 1 2/3(cent)per share:
 authorized 3,600 shares, issued 1,726 shares.................            29              29
Capital in excess of par value................................           955           1,081
Retained earnings.............................................        15,448          14,066
Accumulated other comprehensive loss..........................        (1,263)           (989)
                                                                     --------        --------
                                                                      15,169          14,187
Less:  repurchased shares, at cost:
 280 shares and 271 shares, respectively......................        (7,920)         (7,306)
                                                                     --------        --------
   Total Shareholders' Equity.................................         7,249           6,881
                                                                     --------        --------
      Total Liabilities and Shareholders' Equity..............       $18,339         $17,551
                                                                     ========        ========


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See accompanying Notes to Consolidated Financial Statements.