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EQUITY METHOD INVESTMENTS (Tables)

12 Months Ended

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.

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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

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