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OPERATING SEGMENTS (Tables) | 3 Months Ended
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Mar. 29, 2024
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 March 29, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Net operating revenues: |  |  |  |  |  |  |  |  |  |  |  |
Third party | $ | 1,776 |  | $ | 1,527 |  | $ | 4,172 |  | $ | 1,253 |  |  | $ | 730 |  |  | $ | 1,815 |  |  | $ | 27 |  | $ | — |  | $ | 11,300 |
Intersegment | 197 |  | — |  | 2 |  | 216 |  |  | — |  |  | 2 |  |  | — |  | (417) |  | — |
Total net operating revenues | 1,973 |  | 1,527 |  | 4,174 |  | 1,469 |  |  | 730 |  |  | 1,817 |  |  | 27 |  | (417) |  | 11,300 |
Operating income (loss) | 1,080 |  | 942 |  | 445 |  | 654 |  |  | 55 |  |  | 156 |  |  | (1,191) |  | — |  | 2,141 |
Income (loss) before income taxes | 1,089 |  | 947 |  | 455 |  | 658 |  |  | 56 |  |  | 424 |  |  | 243 |  | — |  | 3,872 |
Identifiable operating assets | 7,244 |  | 3,301 |  | 26,002 |  | 2,568 |  | 2 | 7,534 |  |  | 7,788 |  | 2 | 25,313 |  | — |  | 79,750 |
Investments 1 | 386 |  | 725 |  | 15 |  | 70 |  |  | — |  |  | 13,349 |  |  | 5,097 |  | — |  | 19,642 |
As of and for the Three Months Ended March 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Net operating revenues: |  |  |  |  |  |  |  |  |  |  |  |
Third party | $ | 1,831 |  | $ | 1,386 |  | $ | 3,902 |  | $ | 1,185 |  |  | $ | 707 |  |  | $ | 1,944 |  |  | $ | 25 |  | $ | — |  | $ | 10,980 |
Intersegment | 193 |  | — |  | 2 |  | 186 |  |  | — |  |  | 2 |  |  | — |  | (383) |  | — |
Total net operating revenues | 2,024 |  | 1,386 |  | 3,904 |  | 1,371 |  |  | 707 |  |  | 1,946 |  |  | 25 |  | (383) |  | 10,980 |
Operating income (loss) | 1,135 |  | 853 |  | 1,033 |  | 563 |  |  | 51 |  |  | 139 |  |  | (407) |  | — |  | 3,367 |
Income (loss) before income taxes | 1,142 |  | 855 |  | 1,041 |  | 423 |  |  | 57 |  |  | 504 |  |  | 31 |  | — |  | 4,053 |
Identifiable operating assets | 7,682 |  | 2,315 |  | 26,692 |  | 2,668 |  | 3 | 7,388 |  |  | 9,653 |  | 3 | 21,925 |  | — |  | 78,323 |
Investments 1 | 401 |  | 681 |  | 15 |  | 77 |  |  | — |  |  | 13,200 |  |  | 4,707 |  | — |  | 19,081 |
As of December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Identifiable operating assets | $ | 7,117 |  | $ | 3,149 |  | $ | 25,808 |  | $ | 2,428 |  | 2 | $ | 7,607 |  |  | $ | 9,871 |  | 2 | $ | 21,934 |  | $ | — |  | $ | 77,914 |
Investments 1 | 389 |  | 712 |  | 15 |  | 71 |  |  | — |  |  | 13,639 |  |  | 4,963 |  | — |  | 19,789 |
1 Principally equity method investments and other investments in bottling companies. 2 Property, plant and equipment — net in India represented 13% and 12% of consolidated property, plant and equipment — net as of March 29, 2024 and December 31, 2023, respectively. 3 Property, plant and equipment — net in the Philippines represented 10% of consolidated property, plant and equipment — net as of March 31, 2023. As of December 31, 2023, the Company’s bottling operations in the Philippines met the criteria to be classified as held for sale. Refer to Note 2.

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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 -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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