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OPERATING SEGMENTS (Tables)
 6 Months Ended
Jun. 27, 2025
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 Bottling
Investments		CorporateEliminationsConsolidated
Three Months Ended June 27, 2025        
Net operating revenues:        
Third party$3,008 $1,587 $5,028 $1,464 $1,409 $39 $— $12,535 
Intersegment168 — 1 108 2 — (279)— 
Total net operating revenues3,176 1,587 5,029 1,572 1,411 39 (279)12,535 
Cost of goods sold895 263 2,405 476 1,018 (64)(279)4,714 
Selling, general and administrative expenses956 336 1,003 449 334 392 — 3,470 
Other operating charges— 31 — — — 40 — 71 
Operating income (loss)$1,325 $957 $1,621 $647 $59 $(329)$— $4,280 
Interest income188 
Interest expense445 
Equity income (loss) — net561 
Other income (loss) — net212 
Income before income taxes$4,796 
Other segment information:
Capital expenditures$49 $1 $154 $4 $119 $115 $— $442 
Depreciation and amortization55 8 81 10 76 49 — 279 
Three Months Ended June 28, 2024        
Net operating revenues:        
Third party$2,873 $1,652 $4,870 $1,396 $1,537 $35 $— $12,363 
Intersegment155 — 4 126 2 — (287)— 
Total net operating revenues3,028 1,652 4,874 1,522 1,539 35 (287)12,363 
Cost of goods sold816 317 2,515 436 1,096 (81)(287)4,812 
Selling, general and administrative expenses930 414 983 440 345 437 — 3,549 
Other operating charges— — — — — 1,370 — 1,370 
Operating income (loss)$1,282 $921 $1,376 $646 $98 $(1,691)$— $2,632 
Interest income275 
Interest expense418 
Equity income (loss) — net537 
Other income (loss) — net2 
Income before income taxes$3,028 
Other segment information:
Capital expenditures$64 $1 $116 $6 $151 $84 $— $422 
Depreciation and amortization45 7 82 10 78 47 — 269 
Information about total assets by segment is not disclosed because such information is not regularly provided to, or used by, our Chief Operating Decision Maker.
During the three and six months ended June 27, 2025 and June 28, 2024, our operating segments and Corporate were impacted by acquisition and divestiture activities. Refer to Note 2.
Additionally, during the three months ended June 27, 2025, the results of our operating segments and Corporate were impacted by the following items:
•Operating income (loss) was reduced by $31 million for Latin America due to the impairment of a trademark. Refer to Note 16.
•Operating income (loss) was reduced by $28 million for Corporate due to the Company’s productivity and reinvestment program. Refer to Note 13.
•Operating income (loss) was reduced by $7 million for Corporate due to transaction costs related to the refranchising of our bottling operations in certain territories in India. Refer to Note 2.
•Operating income (loss) was reduced by $4 million for Corporate due to charges related to our acquisition of BodyArmor. Refer to Note 12.
During the three months ended June 28, 2024, the results of our operating segments and Corporate were impacted by the following items:
•Operating income (loss) was reduced by $1,337 million for Corporate due to the remeasurement of our contingent consideration liability to fair value in conjunction with the fairlife acquisition. Refer to Note 16.
•Operating income (loss) was reduced by $32 million for Corporate due to the Company’s productivity and reinvestment program. Refer to Note 13.
•Operating income (loss) was reduced by $7 million for North America due to the restructuring of our manufacturing operations in the United States.
•Operating income (loss) was reduced by $3 million for Corporate due to charges related to our acquisition of BodyArmor. Refer to Note 12.
Europe, Middle East & Africa Latin
America 		North
America		Asia Pacific Bottling
Investments		CorporateEliminationsConsolidated
Six Months Ended June 27, 2025        
Net operating revenues:        
Third party$5,489 $3,064 $9,387 $2,789 $2,870 $65 $— $23,664 
Intersegment344 — 3 204 4 — (555)— 
Total net operating revenues5,833 3,064 9,390 2,993 2,874 65 (555)23,664 
Cost of goods sold1,654 537 4,511 866 2,028 (164)(555)8,877 
Selling, general and administrative expenses1,789 635 1,917 856 668 839 — 6,704 
Other operating charges— 31 — — — 113 — 144 
Operating income (loss)$2,390 $1,861 $2,962 $1,271 $178 $(723)$— $7,939 
Interest income368 
Interest expense832 
Equity income (loss) — net912 
Other income (loss) — net466 
Income before income taxes$8,853 
Other segment information:
Capital expenditures$90 $1 $269 $5 $224 $162 $— $751 
Depreciation and amortization99 15 162 22 152 96 — 546 
Six Months Ended June 28, 2024        
Net operating revenues:        
Third party$5,308 $3,182 $9,094 $2,661 $3,352 $66 $— $23,663 
Intersegment352 — 6 342 4 — (704)— 
Total net operating revenues5,660 3,182 9,100 3,003 3,356 66 (704)23,663 
Cost of goods sold1,549 566 4,625 835 2,361 (185)(704)9,047 
Selling, general and administrative expenses1,749 750 1,842 865 741 953 — 6,900 
Other operating charges— — 760 — — 2,183 — 2,943 
Operating income (loss)$2,362 $1,866 $1,873 $1,303 $254 $(2,885)$— $4,773 
Interest income521 
Interest expense800 
Equity income (loss) — net891 
Other income (loss) — net1,515 
Income before income taxes$6,900 
Other segment information:
Capital expenditures$102 $1 $217 $10 $328 $134 $— $792 
Depreciation and amortization90 14 159 21 169 78 — 531 
During the six months ended June 27, 2025, the results of our operating segments and Corporate were impacted by the following items:
•Operating income (loss) was reduced by $47 million for Corporate due to the remeasurement of our contingent consideration liability to fair value in conjunction with the fairlife acquisition.
•Operating income (loss) was reduced by $39 million for Corporate due to the Company’s productivity and reinvestment program. Refer to Note 13.
•Operating income (loss) was reduced by $31 million for Latin America due to the impairment of a trademark. Refer to Note 16.
•Operating income (loss) was reduced by $8 million for Corporate due to an indemnification agreement entered into as a part of the refranchising of certain of our bottling operations.
•Operating income (loss) was reduced by $7 million for Corporate due to charges related to our acquisition of BodyArmor. Refer to Note 12.
•Operating income (loss) was reduced by $7 million for Corporate due to transaction costs related to the refranchising of our bottling operations in certain territories in India. Refer to Note 2.
During the six months ended June 28, 2024, the results of our operating segments and Corporate were impacted by the following items:
•Operating income (loss) was reduced by $2,102 million for Corporate due to the remeasurement of our contingent consideration liability to fair value in conjunction with the fairlife acquisition. Refer to Note 16.
•Operating income (loss) was reduced by $760 million for North America due to the impairment of our BodyArmor trademark. Refer to Note 16.
•Operating income (loss) was reduced by $68 million for Corporate due to the Company’s productivity and reinvestment program. Refer to Note 13.
•Operating income (loss) was reduced by $10 million for North America due to the restructuring of our manufacturing operations in the United States.
•Operating income (loss) was reduced by $7 million for Corporate due to transaction costs related to the refranchising of our bottling operations in certain territories in India. Refer to Note 2.
•Operating income (loss) was reduced by $7 million for Corporate due to charges related to our acquisition of BodyArmor. Refer to Note 12.