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OPERATING SEGMENTS (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Percentage of total net operating revenues attributable to concentrate operations and finished product operations

The following table sets forth the percentage of total net operating revenues attributable to concentrate operations and finished product operations:

Year Ended December 31,			2024			2023			2022
Concentrate operations			59		%	58		%	56		%
Finished product operations			41			42			44
Total			100		%	100		%	100		%

Schedule of net revenue and property plant and equipment by geography

The following table provides information related to our net operating revenues (in millions):

Year Ended December 31,			2024			2023			2022
United States			$	18,362		$	16,550		$	15,413
International			28,699			29,204			27,591
Net operating revenues			$	47,061		$	45,754		$	43,004

The following table provides information related to our property, plant and equipment — net (in millions):

December 31,			2024			2023
United States			$	4,364		$	3,682
International			5,939			5,554
Property, plant and equipment — net1			$	10,303		$	9,236

1Property, plant and equipment — net in India represented 13% and 12% of consolidated property, plant and equipment — net as of December 31, 2024 and 2023, respectively.

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
Year Ended December 31, 2024
Net operating revenues:
Third party			$	7,442					$	6,459					$	18,640					$	5,079					$	3,129					$	6,215					$	97					$	—					$	47,061
Intersegment			680						—						9						467						—						8						—						(1,164)						—
Total net operating revenues			8,122						6,459						18,649						5,546						3,129						6,223						97						(1,164)						47,061
Cost of goods sold			1,763						1,099						9,595						1,665						1,368						4,251						(253)						(1,164)						18,324
Selling, general and administrative expenses			2,234						1,454						3,958						1,733						1,402						1,476						2,325						—						14,582
Other operating charges			—						126						760						—						—						—						3,277						—						4,163
Operating income (loss)			$	4,125					$	3,780					$	4,336					$	2,148					$	359					$	496					$	(5,252)					$	—					$	9,992
Interest income																																																			988
Interest expense																																																			1,656
Equity income (loss) — net																																																			1,770
Other income (loss) — net																																																			1,992
Income before income taxes																																																			$	13,086
Other segment information:
Capital expenditures			$	18					$	1					$	602					$	18					$	204					$	734					$	487					$	—					$	2,064
Depreciation and amortization			57						29						325						45						124						319						176						—						1,075

Year Ended December 31, 2023
Net operating revenues:
Third party			$	7,392					$	5,830					$	16,766					$	4,724					$	3,064					$	7,852					$	126					$	—					$	45,754
Intersegment			686						—						8						731						—						8						—						(1,433)						—
Total net operating revenues			8,078						5,830						16,774						5,455						3,064						7,860						126						(1,433)						45,754
Cost of goods sold			1,645						1,040						8,791						1,600						1,394						5,615						(132)						(1,433)						18,520
Selling, general and administrative expenses			2,231						1,358						3,522						1,780						1,341						1,667						2,073						—						13,972
Other operating charges			—						—						26						35						—						—						1,890						—						1,951
Operating income (loss)			$	4,202					$	3,432					$	4,435					$	2,040					$	329					$	578					$	(3,705)					$	—					$	11,311
Interest income																																																			907
Interest expense																																																			1,527
Equity income (loss) — net																																																			1,691
Other income (loss) — net																																																			570
Income before income taxes																																																			$	12,952
Other segment information:
Capital expenditures			$	43					$	1					$	412					$	23					$	192					$	843					$	338					$	—					$	1,852
Depreciation and amortization			59						48						310						50						128						389						144						—						1,128

			Europe, Middle East & Africa						Latin America						North America						Asia Pacific						Global Ventures						Bottling Investments						Corporate						Eliminations						Consolidated
Year Ended December 31, 2022
Net operating revenues:
Third party			$	6,896					$	4,910					$	15,667					$	4,711					$	2,843					$	7,883					$	94					$	—					$	43,004
Intersegment			627						—						7						734						—						8						—						(1,376)						—
Total net operating revenues			7,523						4,910						15,674						5,445						2,843						7,891						94						(1,376)						43,004
Cost of goods sold			1,502						872						8,697						1,406						1,334						5,664						(99)						(1,376)						18,000
Selling, general and administrative expenses			2,070						1,168						3,216						1,679						1,324						1,740						1,683						—						12,880
Other operating charges			(7)						—						19						57						—						—						1,146						—						1,215
Operating income (loss)			$	3,958					$	2,870					$	3,742					$	2,303					$	185					$	487					$	(2,636)					$	—					$	10,909
Interest income																																																			449
Interest expense																																																			882
Equity income (loss) — net																																																			1,472
Other income (loss) — net																																																			(262)
Income before income taxes																																																			$	11,686
Other segment information:
Capital expenditures			$	50					$	4					$	280					$	22					$	179					$	697					$	252					$	—					$	1,484
Depreciation and amortization			63						39						330						58						140						435						195						—						1,260

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Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information.

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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.

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