Quarterly report pursuant to Section 13 or 15(d)

OPERATING SEGMENTS (Tables)

v3.23.3
OPERATING SEGMENTS (Tables)
 3 Months Ended 9 Months Ended
Sep. 29, 2023
Sep. 29, 2023
Segment Reporting [Abstract]    
Schedule of Segment Reporting Information, by Segment
Information about our Company’s operations by operating segment and Corporate is as follows (in millions):
Europe, Middle East & Africa Latin
America 		North
America		 Asia Pacific Global Ventures Bottling
Investments		 Corporate Eliminations Consolidated
As of and for the Three Months Ended September 29, 2023                
Net operating revenues:                
Third party $ 2,009  $ 1,574  $ 4,461  $ 1,235  $ 779  $ 1,855  $ 40  $ —  $ 11,953 
Intersegment 167  —  2  167  —  4  —  (340) — 
Total net operating revenues 2,176  1,574  4,463  1,402  779  1,859  40  (340) 11,953 
Operating income (loss) 1,136  985  1,276  491  81  132  (831) —  3,270 
Income (loss) before income taxes 1,154  988  1,295  491  84  571  (1,046) —  3,537 
Identifiable operating assets 7,142  3,124  25,591  2,324 
2
 7,349  9,342 
2
 23,346  —  78,218 
Investments1
372  709  15  71  —  13,310  4,883  —  19,360 
As of and for the Three Months Ended September 30, 2022                
Net operating revenues:                
Third party $ 1,844  $ 1,267  $ 4,197  $ 1,263  $ 679  $ 1,784  $ 29  $ —  $ 11,063 
Intersegment 143  —  4  164  —  2  —  (313) — 
Total net operating revenues 1,987  1,267  4,201  1,427  679  1,786  29  (313) 11,063 
Operating income (loss) 1,046  712  1,082  589  67  46  (454) —  3,088 
Income (loss) before income taxes 1,078  715  1,090  598  69  466  (572) —  3,444 
Identifiable operating assets 7,153  2,072  25,989  2,347 
3
 6,741  9,384 
3
 20,480  —  74,166 
Investments1
433  607  19  215  —  12,479  4,552  —  18,305 
As of December 31, 2022                
Identifiable operating assets $ 7,088  $ 2,067  $ 25,760  $ 2,368 
3
 $ 7,325  $ 10,232 
3
 $ 19,158  $ —  $ 73,998 
Investments1
410  629  15  219  —  12,892  4,600  —  18,765 
1Principally equity method investments and other investments in bottling companies.
2Property, plant and equipment — net in India represented 12% of consolidated property, plant and equipment — net as of September 29, 2023.
3Property, plant and equipment — net in the Philippines represented 10% of consolidated property, plant and equipment — net as of September 30, 2022 and December 31, 2022. As of September 29, 2023, the Company’s bottling operations in the Philippines met the criteria to be classified as held for sale. Refer to Note 2.
Europe, Middle East & Africa Latin
America 		North
America		 Asia Pacific Global Ventures Bottling
Investments		 Corporate Eliminations Consolidated
Nine Months Ended September 29, 2023                
Net operating revenues:                
Third party $ 5,883  $ 4,338  $ 12,728  $ 3,769  $ 2,251  $ 5,841  $ 95  $ —  $ 34,905 
Intersegment 505  —  6  571  —  6  —  (1,088) — 
Total net operating revenues 6,388  4,338  12,734  4,340  2,251  5,847  95  (1,088) 34,905 
Operating income (loss) 3,404  2,635  3,525  1,727  210  393  (2,856) —  9,038 
Income (loss) before income taxes 3,443  2,645  3,563  1,589  219  1,652  (2,641) —  10,470 
Nine Months Ended September 30, 2022                
Net operating revenues:                
Third party $ 5,523  $ 3,621  $ 11,815  $ 3,837  $ 2,103  $ 5,903  $ 77  $ —  $ 32,879 
Intersegment 481  —  6  567  —  6  —  (1,060) — 
Total net operating revenues 6,004  3,621  11,821  4,404  2,103  5,909  77  (1,060) 32,879 
Operating income (loss) 3,344  2,146  2,978  2,006  162  352  (2,154) —  8,834 
Income (loss) before income taxes 3,326  2,152  3,002  2,025  173  1,312  (2,804) —  9,186