OPERATING SEGMENTS (Tables)

3 Months Ended

9 Months Ended

Sep. 29, 2023

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