XML 37 R23.htm IDEA: XBRL DOCUMENT
v3.25.3

OPERATING SEGMENTS | 9 Months Ended
--- | ---
Sep. 26, 2025
Segment Reporting [Abstract] |
OPERATING SEGMENTS | OPERATING SEGMENTS 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 | Corporate | Eliminations | Consolidated
Three Months Ended September 26, 2025 |  |  |  |  |  |  |  |
Net operating revenues: |  |  |  |  |  |  |  |
Third party | $ | 2,818 |  | $ | 1,572 |  | $ | 5,249 |  | $ | 1,438 |  | $ | 1,344 |  | $ | 34 |  | $ | — |  | $ | 12,455 |
Intersegment | 178 |  | 1 |  | 4 |  | 68 |  | 2 |  | — |  | (253) |  | — |
Total net operating revenues | 2,996 |  | 1,573 |  | 5,253 |  | 1,506 |  | 1,346 |  | 34 |  | (253) |  | 12,455 |
Cost of goods sold | 867 |  | 281 |  | 2,523 |  | 471 |  | 955 |  | (47) |  | (253) |  | 4,797 |
Selling, general and administrative expenses | 1,032 |  | 395 |  | 1,049 |  | 514 |  | 334 |  | 294 |  | — |  | 3,618 |
Other operating charges | — |  | — |  | — |  | — |  | — |  | 58 |  | — |  | 58 |
Operating income (loss) | $ | 1,097 |  | $ | 897 |  | $ | 1,681 |  | $ | 521 |  | $ | 57 |  | $ | (271) |  | $ | — |  | $ | 3,982 |
Interest income |  |  |  |  |  |  |  | 185 |
Interest expense |  |  |  |  |  |  |  | 391 |
Equity income (loss) — net |  |  |  |  |  |  |  | 644 |
Other income (loss) — net |  |  |  |  |  |  |  | (237) |
Income before income taxes |  |  |  |  |  |  |  | $ | 4,183 |
Other segment information: |  |  |  |  |  |  |  |
Capital expenditures | $ | 66 |  | $ | — |  | $ | 176 |  | $ | 12 |  | $ | 105 |  | $ | 120 |  | $ | — |  | $ | 479 |
Depreciation and amortization | 40 |  | 8 |  | 83 |  | 12 |  | 78 |  | 47 |  | — |  | 268 |
Three Months Ended September 27, 2024 |  |  |  |  |  |  |  |
Net operating revenues: |  |  |  |  |  |  |  |
Third party | $ | 2,555 |  | $ | 1,642 |  | $ | 5,037 |  | $ | 1,285 |  | $ | 1,314 |  | $ | 21 |  | $ | — |  | $ | 11,854 |
Intersegment | 172 |  | — |  | 1 |  | 77 |  | 2 |  | — |  | (252) |  | — |
Total net operating revenues | 2,727 |  | 1,642 |  | 5,038 |  | 1,362 |  | 1,316 |  | 21 |  | (252) |  | 11,854 |
Cost of goods sold | 784 |  | 254 |  | 2,541 |  | 452 |  | 929 |  | (44) |  | (252) |  | 4,664 |
Selling, general and administrative expenses | 945 |  | 364 |  | 1,041 |  | 448 |  | 344 |  | 494 |  | — |  | 3,636 |
Other operating charges | — |  | 87 |  | — |  | — |  | — |  | 957 |  | — |  | 1,044 |
Operating income (loss) | $ | 998 |  | $ | 937 |  | $ | 1,456 |  | $ | 462 |  | $ | 43 |  | $ | (1,386) |  | $ | — |  | $ | 2,510 |
Interest income |  |  |  |  |  |  |  | 263 |
Interest expense |  |  |  |  |  |  |  | 425 |
Equity income (loss) — net |  |  |  |  |  |  |  | 541 |
Other income (loss) — net |  |  |  |  |  |  |  | 491 |
Income before income taxes |  |  |  |  |  |  |  | $ | 3,380 |
Other segment information: |  |  |  |  |  |  |  |
Capital expenditures | $ | 54 |  | $ | — |  | $ | 144 |  | $ | 5 |  | $ | 150 |  | $ | 116 |  | $ | — |  | $ | 469 |
Depreciation and amortization | 47 |  | 8 |  | 78 |  | 11 |  | 74 |  | 50 |  | — |  | 268 |
| Europe, Middle East & Africa | Latin America | North America | Asia Pacific | Bottling Investments | Corporate | Eliminations | Consolidated
Nine Months Ended September 26, 2025 |  |  |  |  |  |  |  |
Net operating revenues: |  |  |  |  |  |  |  |
Third party | $ | 8,307 |  | $ | 4,636 |  | $ | 14,636 |  | $ | 4,227 |  | $ | 4,214 |  | $ | 99 |  | $ | — |  | $ | 36,119 |
Intersegment | 522 |  | 1 |  | 7 |  | 272 |  | 6 |  | — |  | (808) |  | — |
Total net operating revenues | 8,829 |  | 4,637 |  | 14,643 |  | 4,499 |  | 4,220 |  | 99 |  | (808) |  | 36,119 |
Cost of goods sold | 2,521 |  | 818 |  | 7,034 |  | 1,337 |  | 2,983 |  | (211) |  | (808) |  | 13,674 |
Selling, general and administrative expenses | 2,821 |  | 1,030 |  | 2,966 |  | 1,370 |  | 1,002 |  | 1,133 |  | — |  | 10,322 |
Other operating charges | — |  | 31 |  | — |  | — |  | — |  | 171 |  | — |  | 202 |
Operating income (loss) | $ | 3,487 |  | $ | 2,758 |  | $ | 4,643 |  | $ | 1,792 |  | $ | 235 |  | $ | (994) |  | $ | — |  | $ | 11,921 |
Interest income |  |  |  |  |  |  |  | 553 |
Interest expense |  |  |  |  |  |  |  | 1,223 |
Equity income (loss) — net |  |  |  |  |  |  |  | 1,556 |
Other income (loss) — net |  |  |  |  |  |  |  | 229 |
Income before income taxes |  |  |  |  |  |  |  | $ | 13,036 |
Other segment information: |  |  |  |  |  |  |  |
Capital expenditures | $ | 156 |  | $ | 1 |  | $ | 445 |  | $ | 17 |  | $ | 329 |  | $ | 282 |  | $ | — |  | $ | 1,230 |
Depreciation and amortization | 139 |  | 23 |  | 245 |  | 34 |  | 230 |  | 143 |  | — |  | 814 |
Nine Months Ended September 27, 2024 |  |  |  |  |  |  |  |
Net operating revenues: |  |  |  |  |  |  |  |
Third party | $ | 7,863 |  | $ | 4,824 |  | $ | 14,131 |  | $ | 3,946 |  | $ | 4,666 |  | $ | 87 |  | $ | — |  | $ | 35,517 |
Intersegment | 524 |  | — |  | 7 |  | 419 |  | 6 |  | — |  | (956) |  | — |
Total net operating revenues | 8,387 |  | 4,824 |  | 14,138 |  | 4,365 |  | 4,672 |  | 87 |  | (956) |  | 35,517 |
Cost of goods sold | 2,333 |  | 820 |  | 7,166 |  | 1,287 |  | 3,290 |  | (229) |  | (956) |  | 13,711 |
Selling, general and administrative expenses | 2,694 |  | 1,114 |  | 2,883 |  | 1,313 |  | 1,085 |  | 1,447 |  | — |  | 10,536 |
Other operating charges | — |  | 87 |  | 760 |  | — |  | — |  | 3,140 |  | — |  | 3,987 |
Operating income (loss) | $ | 3,360 |  | $ | 2,803 |  | $ | 3,329 |  | $ | 1,765 |  | $ | 297 |  | $ | (4,271) |  | $ | — |  | $ | 7,283 |
Interest income |  |  |  |  |  |  |  | 784 |
Interest expense |  |  |  |  |  |  |  | 1,225 |
Equity income (loss) — net |  |  |  |  |  |  |  | 1,432 |
Other income (loss) — net |  |  |  |  |  |  |  | 2,006 |
Income before income taxes |  |  |  |  |  |  |  | $ | 10,280 |
Other segment information: |  |  |  |  |  |  |  |
Capital expenditures | $ | 156 |  | $ | 1 |  | $ | 361 |  | $ | 15 |  | $ | 478 |  | $ | 250 |  | $ | — |  | $ | 1,261 |
Depreciation and amortization | 137 |  | 22 |  | 237 |  | 32 |  | 243 |  | 128 |  | — |  | 799 |
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 nine months ended September 26, 2025 and September 27, 2024, our operating segments and Corporate were impacted by acquisition and divestiture activities. Refer to Note 2. Additionally, during the three and nine months ended September 26, 2025 and September 27, 2024, our operating segments and Corporate were impacted by certain significant operating and nonoperating items. Refer to Note 12.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 11: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 12: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 13: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 14: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 15: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 16: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 17: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration