The Coca-Cola Company Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

The following table presents the carrying values of indefinite-lived intangible assets included in our consolidated balance sheets (in millions):


December 31,	2021		2020
Trademarks1	$	14,465	$	10,395
Goodwill	19,363		17,506
Other	211		225
Indefinite-lived intangible assets	$	34,039	$	28,126

1 For information related to the Company’s acquisitions, refer to Note 2.

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
2020
Balance at beginning of year	$	1,294	$	170	$	7,943	$	170	$	2,806	$	4,381	$	16,764
Effect of foreign currency translation	40		(6)		—		7		84		(216)		(91)
Acquisitions1	—		—		775		—		—		—		775
Purchase accounting adjustments1,2	(26)		—		74		24		2		(2)		72
Impairments	—		—		—		—		—		(14)		(14)

Balance at end of year	$	1,308	$	164	$	8,792	$	201	$	2,892	$	4,149	$	17,506
2021
Balance at beginning of year	$	1,308	$	164	$	8,792	$	201	$	2,892	$	4,149	$	17,506
Effect of foreign currency translation	(83)		(8)		—		(6)		46		(285)		(336)
Acquisitions1	55		44		1,886		227		45		—		2,257

Impairments	—		—		—		—		—		(7)		(7)
Divestitures, deconsolidations and other3	—		—		(13)		—		(7)		(37)		(57)
Balance at end of year	$	1,280	$	200	$	10,665	$	422	$	2,976	$	3,820	$	19,363

1For information related to the Company’s acquisitions, refer to Note 2.

2Includes the allocation of goodwill from the Europe, Middle East and Africa segment to other reporting units expected to benefit from the CHI acquisition as well as purchase accounting adjustments related to fairlife. Refer to Note 2.

3The decrease in the Bottling Investments segment was a result of certain bottling operations in Asia Pacific being classified as held for sale. Refer to Note 2.

Definite-lived intangible assets

The following table provides information related to definite-lived intangible assets (in millions):


	December 31, 2021							December 31, 2020
	Gross Carrying Value			Accumulated Amortization		Net Carrying Value		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Customer relationships	$	336	1	$	(86)	$	250	$	195	$	(61)	$	134
Trademarks	189			(87)		102		245		(77)		168
Other	273		2	(51)		222		332		(210)		122
Total	$	798		$	(224)	$	574	$	772	$	(348)	$	424

1Includes $150 million related to the BodyArmor acquisition. Refer to Note 2.

2Includes $102 million for BodyArmor noncompete agreements. 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, 2021, we estimate our amortization expense for the next five years will be as follows (in millions):


	Amortization Expense
2022	$	106
2023	81
2024	66
2025	59
2026	47