Current report filing

INTANGIBLE ASSETS (Tables)

v3.19.2
INTANGIBLE ASSETS (Tables)
 12 Months Ended
Dec. 31, 2018
INTANGIBLE ASSETS [Abstract]  
Indefinite-lived intangible assets
The following table presents the carrying values of indefinite-lived intangible assets included in our consolidated balance sheets (in millions):
December 31,
2018

2017

Trademarks
$
6,682

$
6,729

Bottlers' franchise rights
51

138

Goodwill
14,109

13,649

Other
106

106

Indefinite-lived intangible assets
$
20,948

$
20,622

Carrying value of goodwill by operating segment
The following table provides information related to the carrying value of our goodwill by operating segment (in millions):
 
Europe, Middle East & Africa

Latin
America

North
America

Asia Pacific

Global Ventures

Bottling
Investments

Total

2017
 
 
 
 
 
 
 
Balance at beginning of year
$
614

$
117

$
7,926

$
126

$
411

$
1,435

$
10,629

Effect of foreign currency translation
75

8

—

(1
)
—

(9
)
73

Acquisitions1,3
—

25

28

—

—

4,265

4,318

Adjustments related to the
  finalization of purchase accounting1
—

—

—

18

—

—

18

Impairment charges
—

—

—

—

—

(390
)
(390
)
Divestitures, deconsolidations and
  other1,2
—

—

—

—

—

(999
)
(999
)
Balance at end of year
$
689

$
150

$
7,954

$
143

$
411

$
4,302

$
13,649

2018
 
 
 
 
 
 
 
Balance at beginning of year
$
689

$
150

$
7,954

$
143

$
411

$
4,302

$
13,649

Effect of foreign currency translation
(58
)
(9
)
—

(4
)
—

(202
)
(273
)
Acquisitions1,3
12

—

—

13

—

773

798

Adjustments related to the
  finalization of purchase accounting1,4
408

27

(11
)
—

3

(487
)
(60
)
Divestitures, deconsolidations
  and other1
—

—

—

—

—

(5
)
(5
)
Balance at end of year
$
1,051

$
168

$
7,943

$
152

$
414

$
4,381

$
14,109

1 
Refer to Note 2 for information related to the Company's acquisitions and divestitures.
2 
The 2017 decrease in the Bottling Investments segment was primarily a result of North America bottling operations being refranchised. Refer to Note 2.
3 
The increase in 2017 was primarily due to the consolidation of CCBA. The increase in 2018 was primarily due to the acquisition of controlling interests in bottling operations in the Philippines, Zambia and Botswana. Refer to Note 2.
4 
Includes the allocation of goodwill from the Bottling Investments segment to other reporting units expected to benefit from the consolidation of CCBA. Refer to Note 2.
Definite-lived intangible assets
The following table provides information related to definite-lived intangible assets (in millions):
 
December 31, 2018
 
December 31, 2017
 
Gross Carrying Value

Accumulated Amortization

Net
Carrying
Value

 
Gross Carrying
Value

Accumulated Amortization

Net
Carrying
Value

Customer relationships
$
290

$
(151
)
$
139

 
$
205

$
(143
)
$
62

Bottlers' franchise rights1
396

(18
)
378

 
1,076

(152
)
924

Trademarks
186

(91
)
95

 
182

(73
)
109

Other
88

(61
)
27

 
94

(64
)
30

Total
$
960

$
(321
)
$
639

 
$
1,557

$
(432
)
$
1,125


1 
The 2018 decrease in bottlers' franchise rights was primarily driven by the allocation of a portion of the impairment charge on assets held by CCBA and the refranchising of North America bottling operations. Refer to Note 2.
Estimated amortization expense for the next five years
Based on the carrying value of definite-lived intangible assets as of December 31, 2018, we estimate our amortization expense for the next five years will be as follows (in millions):
 
 
Amortization
Expense

2019
 
$
119

2020
 
163

2021
 
99

2022
 
43

2023
 
43