Annual report pursuant to Section 13 and 15(d)

EQUITY METHOD INVESTMENTS (Tables)

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EQUITY METHOD INVESTMENTS (Tables)
 12 Months Ended
Dec. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]  
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):
Year Ended December 31,1
2024 2023 2022
Net operating revenues $ 99,043  $ 93,862  $ 85,116 
Cost of goods sold 58,527  55,780  52,051 
Gross profit $ 40,516  $ 38,082  $ 33,065 
Operating income $ 12,536  $ 11,868  $ 9,719 
Consolidated net income $ 8,439  $ 7,657  $ 6,373 
Less: Net income attributable to noncontrolling interests 98  75  102 
Net income attributable to common shareowners $ 8,341  $ 7,582  $ 6,271 
Company equity income (loss) — net $ 1,770  $ 1,691  $ 1,472 
1 The financial information represents the results of the equity method investees during the Company’s period of ownership.
December 31, 2024 2023
Current assets $ 33,720  $ 35,087 
Noncurrent assets 72,039  74,464 
Total assets $ 105,759  $ 109,551 
Current liabilities $ 26,959  $ 26,929 
Noncurrent liabilities 33,004  33,989 
Total liabilities $ 59,963  $ 60,918 
Equity attributable to shareowners of investees $ 44,295  $ 47,473 
Equity attributable to noncontrolling interests 1,501  1,160 
Total equity $ 45,796  $ 48,633 
Company equity method investments $ 18,087  $ 19,671 
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):
December 31, 2024 Fair Value Carrying Value Difference
Monster Beverage Corporation $ 10,735  $ 5,186  $ 5,549 
Coca-Cola Europacific Partners plc 6,755  3,655  3,100 
Coca-Cola FEMSA, S.A.B. de C.V. 4,544  1,786  2,758 
Coca-Cola HBC AG 2,675  1,147  1,528 
Coca-Cola Consolidated, Inc. 2,373  342  2,031 
Coca-Cola Bottlers Japan Holdings Inc. 536  332  204 
Coca-Cola İçecek A.Ş. 954  257  697 
Embotelladora Andina S.A. 168  90  78 
Total $ 28,740  $ 12,795  $ 15,945