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OPERATING SEGMENTS (Tables) | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2022 | Sep. 30, 2022
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 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 | 2,072 |  | 25,989 |  | 2,347 |  | 3 | 6,741 |  |  | 9,384 |  | 2,3 | 20,480 |  | — |  | 74,166 |
Investments 1 | 433 |  |  | 607 |  | 19 |  | 215 |  |  | — |  |  | 12,479 |  |  | 4,552 |  | — |  | 18,305 |
As of and for the Three Months Ended October 1, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |
Net operating revenues: |  |  |  |  |  |  |  |  |  |  |  |  |
Third party | $ | 1,758 |  |  | $ | 1,137 |  | $ | 3,478 |  | $ | 1,229 |  |  | $ | 753 |  |  | $ | 1,663 |  |  | $ | 24 |  | $ | — |  | $ | 10,042 |
Intersegment | 157 |  |  | — |  | 1 |  | 145 |  |  | — |  |  | 2 |  |  | 1 |  | (306) |  | — |
Total net operating revenues | 1,915 |  |  | 1,137 |  | 3,479 |  | 1,374 |  |  | 753 |  |  | 1,665 |  |  | 25 |  | (306) |  | 10,042 |
Operating income (loss) | 1,028 |  |  | 712 |  | 868 |  | 594 |  |  | 114 |  |  | 81 |  |  | (499) |  | — |  | 2,898 |
Income (loss) before income taxes | 1,050 |  |  | 716 |  | 630 |  | 604 |  |  | 116 |  |  | 462 |  |  | (494) |  | — |  | 3,084 |
Identifiable operating assets | 8,213 |  | 2 | 1,839 |  | 19,118 |  | 2,254 |  | 3 | 7,784 |  |  | 10,213 |  | 2,3 | 22,004 |  | — |  | 71,425 |
Investments 1 | 482 |  |  | 606 |  | 331 |  | 238 |  |  | 2 |  |  | 13,137 |  |  | 4,385 |  | — |  | 19,181 |
As of December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |
Identifiable operating assets | $ | 7,908 |  | 2 | $ | 1,720 |  | $ | 25,730 |  | $ | 2,355 |  | 3 | $ | 7,949 |  |  | $ | 10,312 |  | 2,3 | $ | 19,964 |  | $ | — |  | $ | 75,938 |
Investments 1 | 436 |  |  | 594 |  | 21 |  | 230 |  |  | — |  |  | 12,669 |  |  | 4,466 |  | — |  | 18,416 |
1 Principally equity method investments and other investments in bottling companies. 2 Property, plant and equipment — net in South Africa represented 16 percent of consolidated property, plant and equipment — net as of September 30, 2022, October 1, 2021 and December 31, 2021. 3 Property, plant and equipment — net in the Philippines represented 10 percent of consolidated property, plant and equipment — net as of September 30, 2022, October 1, 2021 and December 31, 2021. |
| Europe, Middle East & Africa | Latin America | North America | Asia Pacific | Global Ventures | Bottling Investments | Corporate | Eliminations | Consolidated
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 |
Nine Months Ended October 1, 2021 |  |  |  |  |  |  |  |  |
Net operating revenues: |  |  |  |  |  |  |  |  |
Third party | $ | 5,094 |  | $ | 3,113 |  | $ | 9,793 |  | $ | 3,811 |  | $ | 2,030 |  | $ | 5,292 |  | $ | 58 |  | $ | — |  | $ | 29,191 |
Intersegment | 461 |  | — |  | 4 |  | 468 |  | — |  | 7 |  | 1 |  | (941) |  | — |
Total net operating revenues | 5,555 |  | 3,113 |  | 9,797 |  | 4,279 |  | 2,030 |  | 5,299 |  | 59 |  | (941) |  | 29,191 |
Operating income (loss) | 2,990 |  | 1,942 |  | 2,610 |  | 2,046 |  | 215 |  | 314 |  | (1,481) |  | — |  | 8,636 |
Income (loss) before income taxes | 3,049 |  | 1,952 |  | 2,405 |  | 2,078 |  | 221 |  | 1,201 |  | (1,441) |  | — |  | 9,465 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
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