Quarterly report pursuant to Section 13 or 15(d)

Operating Segments

v2.4.0.8
Operating Segments
 3 Months Ended
Mar. 28, 2014
Operating Segments [Abstract]  
Operating Segments
OPERATING SEGMENTS
Effective January 1, 2014, the Company changed the name of the Pacific segment to Asia Pacific. This change did not impact the results of the segments, but the name of the segment has been updated in all information presented herein.
Information about our Company's operations as of and for the three months ended March 28, 2014, and March 29, 2013, by operating segment, is as follows (in millions):
 
Eurasia
& Africa

Europe

Latin
America

North
America

Asia Pacific

Bottling
Investments

Corporate

Eliminations

Consolidated

2014
 
 
 
 
 
 
 
 
 
Net operating revenues:
 
 
 
 
 
 
 
 
 
Third party
$
658

$
1,134

$
1,094

$
4,790

$
1,210

$
1,657

$
33

$
—

$
10,576

Intersegment
—

159

17

3

105

16

—

(300
)
—

Total net revenues
658

1,293

1,111

4,793

1,315

1,673

33

(300
)
10,576

Operating income (loss)
303

719

668

428

557

(26
)
(273
)
—

2,376

Income (loss) before income taxes
308

731

667

425

560

22

(508
)
—

2,205

Identifiable operating assets
1,333

3,868

2,809

34,255

1,996

7,156

26,745

—

78,162

Noncurrent investments
1,145

109

602

50

145

9,183

1,893

—

13,127

2013
 
 
 
 
 
 
 
 
 
Net operating revenues:
 
 
 
 
 
 
 
 
 
Third party
$
669

$
1,020

$
1,157

$
4,883

$
1,244

$
2,018

$
44

$
—

$
11,035

Intersegment
—

157

71

4

146

20

—

(398
)
—

Total net revenues
669

1,177

1,228

4,887

1,390

2,038

44

(398
)
11,035

Operating income (loss)
282

683

763

341

602

39

(302
)
—

2,408

Income (loss) before income taxes
289

694

764

342

604

109

(458
)
—

2,344

Identifiable operating assets
1,366

3,160

2,734

34,591

2,193

8,224

25,105

—

77,373

Noncurrent investments
1,172

278

567

38

128

8,828

66

—

11,077

As of December 31, 2013
 
 
 
 
 
 
 
 
 
Identifiable operating assets
$
1,273

$
3,713

$
2,918

$
33,964

$
1,922

$
7,011

$
27,742

$
—

$
78,543

Noncurrent investments
1,157

106

545

49

143

9,424

88

—

11,512


During the three months ended March 28, 2014, the results of our operating segments were impacted by the following items:
•
Operating income (loss) and income (loss) before income taxes were reduced by $75 million for North America, $7 million for Asia Pacific, $42 million for Bottling Investments and $4 million for Corporate due to the Company's productivity and reinvestment program as well as other restructuring initiatives. Refer to Note 10 and Note 11 for additional information on each of the Company's productivity, restructuring and integration initiatives.
•
Income (loss) before income taxes was reduced by $21 million for Bottling Investments and $226 million for Corporate due to the devaluation of the Venezuelan bolivar, including our proportionate share of the charge incurred by an equity method investee that has operations in Venezuela. Refer to Note 1 and Note 10.
•
Income (loss) before income taxes was reduced by $6 million for Bottling Investments due to the Company's proportionate share of unusual or infrequent items recorded by certain of our equity method investees. Refer to Note 10.
During the three months ended March 29, 2013, the results of our operating segments were impacted by the following items:
•
Operating income (loss) and income (loss) before income taxes were reduced by $2 million for Eurasia and Africa, $82 million for North America, $8 million for Asia Pacific, $21 million for Bottling Investments and $10 million for Corporate due to the Company's productivity and reinvestment program as well as other restructuring initiatives. Refer to Note 10 and Note 11.
•
Income (loss) before income taxes was reduced by $9 million for Bottling Investments and $140 million for Corporate due to the devaluation of the Venezuelan bolivar, including our proportionate share of the charge incurred by an equity method investee that has operations in Venezuela. Refer to Note 1 and Note 10.
•
Income (loss) before income taxes was reduced by $30 million for Bottling Investments due to the Company's proportionate share of unusual or infrequent items recorded by certain of our equity method investees. Refer to Note 10.