Annual report pursuant to Section 13 and 15(d)

OPERATING SEGMENTS (Tables)

v3.24.0.1
OPERATING SEGMENTS (Tables)
 12 Months Ended
Dec. 31, 2023
Segment Reporting [Abstract]  
Schedule of total net operating revenues related to concentrate and finished products operation
The following table sets forth the percentage of total net operating revenues attributable to concentrate operations and finished product operations:
Year Ended December 31, 2023 2022 2021
Concentrate operations 58  % 56  % 56  %
Finished product operations 42  44  44 
Total 100  % 100  % 100  %
Schedule of net revenue and property plant and equipment by Geography
The following table provides information related to our net operating revenues (in millions):
Year Ended December 31, 2023 2022 2021
United States $ 16,550  $ 15,413  $ 13,010 
International 29,204  27,591  25,645 
Net operating revenues $ 45,754  $ 43,004  $ 38,655 
The following table provides information related to our property, plant and equipment — net (in millions):
Year Ended December 31, 2023 2022 2021
United States $ 3,682  $ 3,494  $ 3,420 
International 5,554  6,347  6,500 
Property, plant and equipment — net $ 9,236  $ 9,841  $ 9,920 
Schedule of Segment Reporting Information, by Segment
Information about our Company’s operations by operating segment and Corporate is as follows (in millions):
Europe,
Middle East & Africa		 Latin
America		 North
America		 Asia Pacific Global Ventures Bottling
Investments		 Corporate Eliminations Consolidated
As of and for the Year Ended December 31, 2023
                
Net operating revenues:                
Third party $ 7,392  $ 5,830  $ 16,766  $ 4,724 

$ 3,064  $ 7,852  $ 126  $ —  $ 45,754 
Intersegment 686  —  8  731  —  8  —  (1,433) — 
Total net operating revenues 8,078  5,830  16,774  5,455  3,064  7,860  126  (1,433) 45,754 
Operating income (loss) 4,202  3,432  4,435  2,040  329  578  (3,705) —  11,311 
Interest income —  —  47  —  6  —  854  —  907 
Interest expense —  —  —  —  —  —  1,527  —  1,527 
Depreciation and amortization 59  48  310  50  128  389  144  —  1,128 
Equity income (loss) — net 16  9  —  (146) —  1,495  317  —  1,691 
Income (loss) before income taxes 4,255  3,404  4,450  1,905  338  2,119  (3,519) —  12,952 
Identifiable operating assets 7,117  3,149  25,808  2,428 
2
 7,607  9,871 
2
 21,934  —  77,914 
Investments1
389  712  15  71  —  13,639  4,963  —  19,789 
Capital expenditures 43  1  412  23  192  843  338  —  1,852 
As of and for the Year Ended December 31, 2022
                
Net operating revenues:                
Third party $ 6,896  $ 4,910  $ 15,667  $ 4,711  $ 2,843  $ 7,883  $ 94  $ —  $ 43,004 
Intersegment 627  —  7  734  —  8  —  (1,376) — 
Total net operating revenues 7,523  4,910  15,674  5,445  2,843  7,891  94  (1,376) 43,004 
Operating income (loss) 3,958  2,870  3,742  2,303  185  487  (2,636) —  10,909 
Interest income —  —  29  —  9  —  411  —  449 
Interest expense —  —  —  —  —  —  882  —  882 
Depreciation and amortization 63  39  330  58  140  435  195  —  1,260 
Equity income (loss) — net 43  7  (1) 9  —  1,184  230  —  1,472 
Income (loss) before income taxes 3,952  2,879  3,768  2,320  196  1,743  (3,172) —  11,686 
Identifiable operating assets 7,088  2,067  25,760  2,368 
3
 7,325  10,232 
3
 19,158  —  73,998 
Investments1
410  629  15  219  —  12,892  4,600  —  18,765 
Capital expenditures 50  4  280  22  179  697  252  —  1,484 
Year Ended December 31, 2021    
Net operating revenues:    
Third party $ 6,564  $ 4,143  $ 13,184  $ 4,682  $ 2,805  $ 7,194  $ 83  $ —  $ 38,655 
Intersegment 629  —  6  609  —  9  2  (1,255) — 
Total net operating revenues 7,193  4,143  13,190  5,291  2,805  7,203  85  (1,255) 38,655 
Operating income (loss) 3,735  2,534  3,331  2,325  293  473  (2,383) —  10,308 
Interest income —  —  40  —  10  —  226  —  276 
Interest expense —  —  —  —  —  —  1,597  —  1,597 
Depreciation and amortization 76  39  388  49  135  529  236  —  1,452 
Equity income (loss) — net 33  9  22  8  (6) 1,071  301  —  1,438 
Income (loss) before income taxes 3,821  2,542  3,140  2,350  310  1,596  (1,334) —  12,425 
Capital expenditures 35  2  228  65  285  560  192  —  1,367 
1Principally equity method investments and other investments in bottling companies.
2Property, plant and equipment — net in India represented 12% of consolidated property, plant and equipment — net as of December 31, 2023.
3Property, plant and equipment — net in the Philippines represented 10% of consolidated property, plant and equipment — net as of December 31, 2022. As of December 31, 2023, the Company’s bottling operations in the Philippines met the criteria to be classified as held for sale. Refer to Note 2.