Quarterly report pursuant to Section 13 or 15(d)

DEBT AND BORROWING ARRANGEMENTS

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DEBT AND BORROWING ARRANGEMENTS
6 Months Ended
Jun. 30, 2023
Debt Disclosure [Abstract]  
DEBT AND BORROWING ARRANGEMENTS DEBT AND BORROWING ARRANGEMENTS
Loans and notes payable consist primarily of commercial paper issued in the United States. As of June 30, 2023 and December 31, 2022, we had $4,643 million and $2,146 million, respectively, in outstanding commercial paper borrowings.
During the six months ended June 30, 2023, our bottling operations in Africa extinguished prior to maturity U.S. dollar term loans with a total principal amount of $121 million, with variable interest rates ranging from the three-month LIBOR plus 2.950 percent to the three-month LIBOR plus 3.000 percent. Additionally, the bottling operations extinguished prior to maturity a U.S. dollar revolving facility of $40 million, with a variable interest rate of SOFR plus 2.344 percent.