OPERATING SEGMENTS (Tables)

3 Months Ended

Mar. 29, 2024

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
Investments1	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
Investments1	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
Investments1	389		712		15		71			—		13,639			4,963		—		19,789

1Principally equity method investments and other investments in bottling companies.

2Property, 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.

3Property, 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.