The company continues to expand its DSD network through strategic transactions with independent bottlers and third-party brand ownership companies. They also acquire brand ownership companies to expand their portfolio, which are accounted for as asset acquisitions.

The company expects to invest in beverage startup companies or brand ownership companies to grow their presence in certain product categories, or enter into various licensing and distribution agreements to expand their product portfolio. These investments generally involve acquiring a minority interest in equity securities of a company.

Sales volume for the first quarter of 2024 decreased approximately 1.7% compared to the prior year period, as growth in Canada Dry and C4 Energy, combined with the launch of Electrolit within our distribution network, was more than offset by softness in the remainder of our portfolio.

In 2023, the company began enacting organization movements to ensure succession plans, including the appointment of Tim Cofer as Chief Operating Officer, effective November 6, 2023, with the expectation that he will succeed Robert Gamgort as CEO during the second quarter of 2024.

In March 2024, the company announced the closure of its manufacturing facility in Williston, Vermont, with operations and employees to be relocated to other existing manufacturing locations. This restructuring program is expected to incur pre-tax restructuring charges in an estimated range of $30 million to $40 million.

Management, including the CEO and CFO, concluded that disclosure controls and procedures were effective as of March 31, 2024, providing reasonable assurance that information is recorded, processed, summarized, and reported within specified time periods.

Disruptions in financial and credit markets, including those caused by inflation, global economic uncertainty, and rising interest rates, may impact the ability to manage normal commercial relationships with customers, suppliers, and creditors.

Customer and consumer demand for products may be impacted by the risk factors discussed under 'Risk Factors' in Part 1, Item 1A of the Annual Report, as well as subsequent filings with the SEC, that could have a material effect on production, delivery and consumption of the products, which could result in a reduction in sales volume.

The Staff of the SEC (the "Staff") has been investigating certain statements by the Company in its prior Exchange Act reports regarding the recyclability of our K-Cup pods. We have been cooperating with this investigation and have now reached what we believe to be an agreement in principle with the Staff to resolve the matter. This agreement is subject to finalizing documentation and must be approved by the SEC. If approved, this agreement, which includes a $1.5 million penalty, would not have a material impact on the Company.

Sales volume for the first quarter of 2024 decreased approximately 1.7% compared to the prior year period, as growth in Canada Dry and C4 Energy, combined with the launch of Electrolit within our distribution network, was more than offset by softness in the remainder of our portfolio.

Appliance volume increased 26.1% in the first quarter of 2024, driven by Keurig market share momentum.

K-Cup pod volume decreased 1.1% for the first quarter of 2024 compared to the prior year period, reflecting softer at-home coffee category trends.

Gross profit increased $196 million, or 11.2%, to $1,940 million for the first quarter of 2024 compared to $1,744 million in the prior year period. This performance primarily reflected the impact to gross profit of the strong growth in net sales (6 percentage points), the benefit from the earned equity from the achievement of milestones associated with certain distribution agreements (3 percentage points), and a net benefit from changes in ingredients, materials, and productivity (2 percentage points).

In March 2024, we announced the closure of our manufacturing facility in Williston, Vermont, with operations and employees to be relocated to other existing manufacturing locations, in order to more effectively and efficiently meet the needs of consumers and customers.

Our cash conversion cycle increased 48 days to approximately 2 days as of March 31, 2024 as compared to (46) days as of March 31, 2023, which was primarily driven by the decrease in DPO, reflecting the reduction of payment terms for certain suppliers.

No specific information on innovation & technology was found in the filing.

In March 2024, we completed the issuance of an aggregate principal amount of $3 billion of senior unsecured notes. The proceeds were used to repay the 2024 Notes at maturity, to repurchase KDP shares as described below, to repay outstanding commercial paper, and for general corporate purposes.

In March 2024, JAB BevCo B.V., a subsidiary of JAB, sold 100 million shares of KDP's common stock through an underwritten secondary offering. In connection with this offering, we repurchased 35 million shares at the per-share price paid by the underwriter, for a total of $1,012 million, which was effected under our existing share repurchase program.

As of March 31, 2024, $1,810 million remained available for repurchase under the authorized share repurchase program.

The Staff of the SEC (the "Staff") has been investigating certain statements by the Company in its prior Exchange Act reports regarding the recyclability of our K-Cup pods. We have been cooperating with this investigation and have now reached what we believe to be an agreement in principle with the Staff to resolve the matter.

K-Cup pod volume decreased 1.1% for the first quarter of 2024 compared to the prior year period, reflecting softer at-home coffee category trends.

Disruptions in financial and credit markets, including those caused by inflation, global economic uncertainty and rising interest rates, may impact our ability to manage normal commercial relationships with our customers, suppliers and creditors.