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EQUITY METHOD INVESTMENTS (Tables) | 12 Months Ended
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Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract] |
Summary of financial information for equity method investees | A summary of financial information for our equity method investees in the aggregate is as follows (in millions):
Year Ended December 31,1 | 2023 | 2022 | 2021
Net operating revenues | $ | 93,862 |  | $ | 85,116 |  | $ | 79,934 |
Cost of goods sold | 55,780 |  | 52,051 |  | 47,847 |
Gross profit | $ | 38,082 |  | $ | 33,065 |  | $ | 32,087 |
Operating income | $ | 11,868 |  | $ | 9,719 |  | $ | 9,089 |
Consolidated net income | $ | 7,657 |  | $ | 6,373 |  | $ | 6,050 |
Less: Net income attributable to noncontrolling interests | 75 |  | 102 |  | 91 |
Net income attributable to common shareowners | $ | 7,582 |  | $ | 6,271 |  | $ | 5,959 |
Company equity income (loss) — net | $ | 1,691 |  | $ | 1,472 |  | $ | 1,438 |
1 The financial information represents the results of the equity method investees during the Company’s period of ownership.
December 31, | 2023 | 2022
Current assets | $ | 35,087 |  | $ | 32,722 |
Noncurrent assets | 74,464 |  | 70,523 |
Total assets | $ | 109,551 |  | $ | 103,245 |
Current liabilities | $ | 26,929 |  | $ | 23,580 |
Noncurrent liabilities | 33,989 |  | 34,740 |
Total liabilities | $ | 60,918 |  | $ | 58,320 |
Equity attributable to shareowners of investees | $ | 47,473 |  | $ | 43,917 |
Equity attributable to noncontrolling interests | 1,160 |  | 1,008 |
Total equity | $ | 48,633 |  | $ | 44,925 |
Company equity method investments | $ | 19,671 |  | $ | 18,264 |
Equity Method Investments Fair Value and Carrying Value | The following table presents the difference between calculated fair value, based on quoted closing prices of publicly traded shares, and our Company’s carrying value in investments in publicly traded companies accounted for under the equity method (in millions):
December 31, 2023 | Fair Value | Carrying Value | Difference
Monster Beverage Corporation | $ | 11,766 |  | $ | 4,837 |  | $ | 6,929 |
Coca-Cola Europacific Partners plc | 5,870 |  | 3,858 |  | 2,012 |
Coca-Cola FEMSA, S.A.B. de C.V. | 5,549 |  | 2,092 |  | 3,457 |
Coca-Cola HBC AG | 2,296 |  | 1,252 |  | 1,044 |
Coca-Cola Consolidated, Inc. | 2,304 |  | 473 |  | 1,831 |
Coca-Cola Bottlers Japan Holdings Inc. | 484 |  | 367 |  | 117 |
Coca-Cola İçecek A.Ş. | 911 |  | 228 |  | 683 |
Embotelladora Andina S.A. | 137 |  | 90 |  | 47 |
Total | $ | 29,317 |  | $ | 13,197 |  | $ | 16,120 |

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- Definition The difference between calculated fair value, based on quoted closing prices of publicly traded shares, and our carrying value in investments in publicly traded companies accounted for under the equity method. + References No definition available. + Details
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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 + Details
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