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Intangible Assets (Tables) | 12 Months Ended
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Dec. 25, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Amortizable Intangible Assets, Net | A summary of our amortizable intangible assets is as follows:
|  |  | 2021 |  | 2020 |  | 2019
| Average Useful Life (Years) |  | Gross |  | Accumulated Amortization |  | Net |  | Gross |  | Accumulated Amortization |  | Net |  |
Acquired franchise rights (a) | 56 – 60 |  | $ | 976 |  |  | $ | (187) |  |  | $ | 789 |  |  | $ | 976 |  |  | $ | (173) |  |  | $ | 803 |  |  |
Customer relationships | 10 – 24 |  | 623 |  |  | (227) |  |  | 396 |  |  | 642 |  |  | (204) |  |  | 438 |  |  |
Brands (b) | 20 – 40 |  | 1,151 |  |  | (989) |  |  | 162 |  |  | 1,348 |  |  | (1,099) |  |  | 249 |  |  |
Other identifiable intangibles | 10 – 24 |  | 451 |  |  | (260) |  |  | 191 |  |  | 474 |  |  | (261) |  |  | 213 |  |  |
Total |  |  | $ | 3,201 |  |  | $ | (1,663) |  |  | $ | 1,538 |  |  | $ | 3,440 |  |  | $ | (1,737) |  |  | $ | 1,703 |  |  |
Amortization expense |  |  |  |  |  |  | $ | 91 |  |  |  |  |  |  | $ | 90 |  |  | $ | 81 |
(a)Acquired franchise rights includes our distribution agreement with Vital Pharmaceuticals, Inc., with an expected residual value higher than our carrying value. The distribution agreement’s useful life is three years, in accordance with the three-year termination notice issued, and is not reflected in the average useful life above. (b)The change primarily reflects assets reclassified as held for sale in connection with our Juice Transaction. See Note 13 for further information.
Future Amortization of Intangible Assets | Amortization is recognized on a straight-line basis over an intangible asset’s estimated useful life. Amortization of intangible assets for each of the next five years, based on existing intangible assets as of December 25, 2021 and using average 2021 foreign exchange rates, is expected to be as follows:
| 2022 |  | 2023 |  | 2024 |  | 2025 |  | 2026
Five-year projected amortization | $ | 84 |  |  | $ | 84 |  |  | $ | 83 |  |  | $ | 81 |  |  | $ | 72 |
Change in Book Value of Nonamortizable Intangible Assets | The change in the book value of indefinite-lived intangible assets is as follows:
| Balance, Beginning 2020 |  | Acquisitions |  | Translation and Other |  | Balance, End of 2020 |  | Acquisitions/(Divestitures) |  | Translation and Other |  | Balance, End of 2021
FLNA (a) |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill | $ | 299 |  |  | $ | 164 |  |  | $ | 2 |  |  | $ | 465 |  |  | $ | (8) |  |  | $ | 1 |  |  | $ | 458 |
Brands | 162 |  |  | 179 |  |  | (1) |  |  | 340 |  |  | — |  |  | — |  |  | 340 |
Total | 461 |  |  | 343 |  |  | 1 |  |  | 805 |  |  | (8) |  |  | 1 |  |  | 798 |
QFNA |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill | 189 |  |  | — |  |  | — |  |  | 189 |  |  | — |  |  | — |  |  | 189 |
Brands | 11 |  |  | — |  |  | (11) |  |  | — |  |  | — |  |  | — |  |  | — |
Total | 200 |  |  | — |  |  | (11) |  |  | 189 |  |  | — |  |  | — |  |  | 189 |
PBNA (b) (c) |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill | 9,898 |  |  | 2,280 |  |  | 11 |  |  | 12,189 |  |  | (216) |  |  | 1 |  |  | 11,974 |
Reacquired franchise rights | 7,089 |  |  | — |  |  | 18 |  |  | 7,107 |  |  | — |  |  | — |  |  | 7,107 |
Acquired franchise rights | 1,517 |  |  | 16 |  |  | 3 |  |  | 1,536 |  |  | 1 |  |  | 1 |  |  | 1,538 |
Brands (d) | 763 |  |  | 2,400 |  |  | (41) |  |  | 3,122 |  |  | (290) |  |  | (324) |  |  | 2,508 |
Total | 19,267 |  |  | 4,696 |  |  | (9) |  |  | 23,954 |  |  | (505) |  |  | (322) |  |  | 23,127 |
LatAm |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill | 501 |  |  | — |  |  | (43) |  |  | 458 |  |  | — |  |  | (25) |  |  | 433 |
Brands | 125 |  |  | — |  |  | (17) |  |  | 108 |  |  | (1) |  |  | (7) |  |  | 100 |
Total | 626 |  |  | — |  |  | (60) |  |  | 566 |  |  | (1) |  |  | (32) |  |  | 533 |
Europe (b) |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill (e) | 3,961 |  |  | (2) |  |  | (153) |  |  | 3,806 |  |  | (28) |  |  | (78) |  |  | 3,700 |
Reacquired franchise rights (e) | 505 |  |  | — |  |  | (9) |  |  | 496 |  |  | (23) |  |  | (32) |  |  | 441 |
Acquired franchise rights (e) | 157 |  |  | — |  |  | 15 |  |  | 172 |  |  | — |  |  | (14) |  |  | 158 |
Brands (f) | 4,181 |  |  | — |  |  | (109) |  |  | 4,072 |  |  | — |  |  | 182 |  |  | 4,254 |
Total | 8,804 |  |  | (2) |  |  | (256) |  |  | 8,546 |  |  | (51) |  |  | 58 |  |  | 8,553 |
AMESA (g) |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill | 446 |  |  | 560 |  |  | 90 |  |  | 1,096 |  |  | (2) |  |  | (31) |  |  | 1,063 |
Brands | — |  |  | 183 |  |  | 31 |  |  | 214 |  |  | — |  |  | (9) |  |  | 205 |
Total | 446 |  |  | 743 |  |  | 121 |  |  | 1,310 |  |  | (2) |  |  | (40) |  |  | 1,268 |
APAC (h) |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill | 207 |  |  | 306 |  |  | 41 |  |  | 554 |  |  | 3 |  |  | 7 |  |  | 564 |
Brands (d) | 100 |  |  | 309 |  |  | 36 |  |  | 445 |  |  | — |  |  | 31 |  |  | 476 |
Total | 307 |  |  | 615 |  |  | 77 |  |  | 999 |  |  | 3 |  |  | 38 |  |  | 1,040 |
Total goodwill | 15,501 |  |  | 3,308 |  |  | (52) |  |  | 18,757 |  |  | (251) |  |  | (125) |  |  | 18,381 |
Total reacquired franchise rights | 7,594 |  |  | — |  |  | 9 |  |  | 7,603 |  |  | (23) |  |  | (32) |  |  | 7,548 |
Total acquired franchise rights | 1,674 |  |  | 16 |  |  | 18 |  |  | 1,708 |  |  | 1 |  |  | (13) |  |  | 1,696 |
Total brands | 5,342 |  |  | 3,071 |  |  | (112) |  |  | 8,301 |  |  | (291) |  |  | (127) |  |  | 7,883 |
Total | $ | 30,111 |  |  | $ | 6,395 |  |  | $ | (137) |  |  | $ | 36,369 |  |  | $ | (564) |  |  | $ | (297) |  |  | $ | 35,508 |
(a)Acquisitions/divestitures in 2021 and acquisitions in 2020 primarily reflect our acquisition of BFY Brands. (b)Acquisitions/divestitures in 2021 primarily reflects assets reclassified as held for sale in connection with our Juice Transaction. See Note 13 for further information. (c)Acquisitions in 2020 primarily reflects our acquisition of Rockstar. See Note 13 for further information. (d)Translation and other in 2021 primarily reflects the allocation of the Rockstar brand to the respective divisions, which was finalized in 2021 as part of purchase price allocation. (e)Translation and other primarily reflects the depreciation of the euro in 2021 and depreciation of the Russian ruble in 2020. (f)Translation and other in 2021 reflects the allocation of the Rockstar brand from PBNA, which was finalized in 2021 as part of purchase price allocation, partially offset by the depreciation of the euro. Translation and other in 2020 primarily reflects the depreciation of the Russian ruble. (g)Acquisitions in 2020 primarily reflects our acquisition of Pioneer Foods. See Note 13 for further information. (h)Acquisitions in 2020 primarily reflects our acquisition of Be & Cheery. See Note 13 for further information.

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