| Summary of financial information for equity method investees |
A summary of financial information for our equity method investees in the aggregate is as follows (in millions):
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Year Ended December 31,1
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2020 |
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2019 |
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2018 |
| Net operating revenues |
$ |
69,384
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$ |
75,980 |
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$ |
75,482 |
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| Cost of goods sold |
41,139
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44,881 |
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44,933 |
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| Gross profit |
$ |
28,245
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$ |
31,099 |
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$ |
30,549 |
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| Operating income |
$ |
7,056
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$ |
7,748 |
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$ |
7,511 |
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| Consolidated net income |
$ |
4,176
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$ |
4,597 |
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$ |
4,646 |
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| Less: Net income attributable to noncontrolling interests |
54
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63 |
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101 |
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| Net income attributable to common shareowners |
$ |
4,122
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$ |
4,534 |
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$ |
4,545 |
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| Company equity income (loss) — net |
$ |
978
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$ |
1,049 |
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$ |
1,008 |
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1 The financial information represents the results of the equity method investees during the Company's period of ownership.
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| December 31, |
2020 |
2019 |
| Current assets |
$ |
29,431
|
|
$ |
25,654 |
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| Noncurrent assets |
67,900
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68,269 |
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| Total assets |
$ |
97,331
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$ |
93,923 |
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| Current liabilities |
$ |
20,033
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$ |
20,271 |
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| Noncurrent liabilities |
33,613
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31,321 |
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| Total liabilities |
$ |
53,646
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$ |
51,592 |
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| Equity attributable to shareowners of investees |
$ |
42,622
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$ |
41,203 |
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| Equity attributable to noncontrolling interests |
1,063
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1,128 |
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| Total equity |
$ |
43,685
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$ |
42,331 |
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| Company equity method investments |
$ |
19,273
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$ |
19,025 |
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| Equity Method Investments Fair Value and Carrying Value |
The following table presents the difference between calculated fair value, based on quoted closing prices of publicly traded shares, and our Company's carrying value in investments in publicly traded companies accounted for under the equity method (in millions):
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| December 31, 2020 |
Fair Value |
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Carrying Value |
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Difference |
| Monster Beverage Corporation |
$ |
9,444 |
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$ |
4,020 |
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$ |
5,424
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| Coca-Cola European Partners plc |
4,383 |
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3,959 |
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424
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| Coca-Cola FEMSA, S.A.B. de C.V. |
2,657 |
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1,632 |
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1,025
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| Coca-Cola HBC AG |
2,657 |
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1,282 |
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1,375
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| Coca-Cola Amatil Limited |
2,222 |
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707 |
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1,515
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| Coca-Cola Consolidated, Inc. |
661 |
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169 |
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492
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| Coca-Cola Bottlers Japan Holdings Inc. |
522 |
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522 |
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—
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| Coca-Cola İçecek A.Ş. |
440 |
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197 |
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243
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| Embotelladora Andina S.A. |
143 |
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116 |
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27
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| Total |
$ |
23,129 |
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$ |
12,604 |
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$ |
10,525
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