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Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Amortizable Intangible Assets, Net | A summary of our amortizable intangible assets is as follows:
|  |  | 2022 |  | 2021 |  | 2020
| Average Useful Life (Years) |  | Gross |  | Accumulated Amortization |  | Net |  | Gross |  | Accumulated Amortization |  | Net |  |
Acquired franchise rights (a) | 56 – 60 |  | $ | 837 |  |  | $ | (200) |  |  | $ | 637 |  |  | $ | 976 |  |  | $ | (187) |  |  | $ | 789 |  |  |
Customer relationships | 10 – 24 |  | 571 |  |  | (237) |  |  | 334 |  |  | 623 |  |  | (227) |  |  | 396 |  |  |
Brands | 20 – 40 |  | 1,097 |  |  | (973) |  |  | 124 |  |  | 1,151 |  |  | (989) |  |  | 162 |  |  |
Other identifiable intangibles | 10 – 24 |  | 447 |  |  | (265) |  |  | 182 |  |  | 451 |  |  | (260) |  |  | 191 |  |  |
Total |  |  | $ | 2,952 |  |  | $ | (1,675) |  |  | $ | 1,277 |  |  | $ | 3,201 |  |  | $ | (1,663) |  |  | $ | 1,538 |  |  |
Amortization expense |  |  |  |  |  |  | $ | 78 |  |  |  |  |  |  | $ | 91 |  |  | $ | 90 |
(a)Decrease is primarily due to the write-off of our distribution rights for Bang energy drinks. See Note 1 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 31, 2022 and using average 2022 foreign exchange rates, is expected to be as follows:
| 2023 |  | 2024 |  | 2025 |  | 2026 |  | 2027
Five-year projected amortization | $ | 77 |  |  | $ | 76 |  |  | $ | 74 |  |  | $ | 67 |  |  | $ | 64 |
Change in Book Value of Nonamortizable Intangible Assets | The change in the book value of indefinite-lived intangible assets is as follows:
| Balance, Beginning 2021 |  | Acquisitions/(Divestitures) |  | Translation and Other |  | Balance, End of 2021 |  | Acquisitions/(Divestitures) |  | Impairment |  | Translation and Other |  | Balance, End of 2022
FLNA (a) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill | $ | 465 |  |  | $ | (8) |  |  | $ | 1 |  |  | $ | 458 |  |  | $ | — |  |  | $ | — |  |  | $ | (7) |  |  | $ | 451 |
Brands | 340 |  |  | — |  |  | — |  |  | 340 |  |  | — |  |  | (88) |  |  | (1) |  |  | 251 |
Total | 805 |  |  | (8) |  |  | 1 |  |  | 798 |  |  | — |  |  | (88) |  |  | (8) |  |  | 702 |
QFNA |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill | 189 |  |  | — |  |  | — |  |  | 189 |  |  | — |  |  | — |  |  | — |  |  | 189 |
Brands | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | 189 |  |  | — |  |  | — |  |  | 189 |  |  | — |  |  | — |  |  | — |  |  | 189 |
PBNA (b) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill | 12,189 |  |  | (216) |  |  | 1 |  |  | 11,974 |  |  | — |  |  | — |  |  | (27) |  |  | 11,947 |
Reacquired franchise rights | 7,107 |  |  | — |  |  | — |  |  | 7,107 |  |  | — |  |  | — |  |  | (46) |  |  | 7,061 |
Acquired franchise rights | 1,536 |  |  | 1 |  |  | 1 |  |  | 1,538 |  |  | 230 |  |  | — |  |  | (10) |  |  | 1,758 |
Brands (c) | 3,122 |  |  | (290) |  |  | (324) |  |  | 2,508 |  |  | — |  |  | — |  |  | — |  |  | 2,508 |
Total | 23,954 |  |  | (505) |  |  | (322) |  |  | 23,127 |  |  | 230 |  |  | — |  |  | (83) |  |  | 23,274 |
LatAm |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill | 458 |  |  | — |  |  | (25) |  |  | 433 |  |  | — |  |  | — |  |  | 3 |  |  | 436 |
Brands (d) | 108 |  |  | (1) |  |  | (7) |  |  | 100 |  |  | — |  |  | (29) |  |  | 4 |  |  | 75 |
Total | 566 |  |  | (1) |  |  | (32) |  |  | 533 |  |  | — |  |  | (29) |  |  | 7 |  |  | 511 |
Europe (e) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill (f) | 3,806 |  |  | (28) |  |  | (78) |  |  | 3,700 |  |  | — |  |  | — |  |  | (54) |  |  | 3,646 |
Reacquired franchise rights (f) | 496 |  |  | (23) |  |  | (32) |  |  | 441 |  |  | — |  |  | — |  |  | (20) |  |  | 421 |
Acquired franchise rights (f) | 172 |  |  | — |  |  | (14) |  |  | 158 |  |  | — |  |  | (1) |  |  | (9) |  |  | 148 |
Brands (g) (h) | 4,072 |  |  | — |  |  | 182 |  |  | 4,254 |  |  | — |  |  | (2,684) |  |  | 94 |  |  | 1,664 |
Total | 8,546 |  |  | (51) |  |  | 58 |  |  | 8,553 |  |  | — |  |  | (2,685) |  |  | 11 |  |  | 5,879 |
AMESA |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill | 1,096 |  |  | (2) |  |  | (31) |  |  | 1,063 |  |  | 14 |  |  | — |  |  | (62) |  |  | 1,015 |
Brands (i) | 214 |  |  | — |  |  | (9) |  |  | 205 |  |  | — |  |  | (36) |  |  | (13) |  |  | 156 |
Total | 1,310 |  |  | (2) |  |  | (40) |  |  | 1,268 |  |  | 14 |  |  | (36) |  |  | (75) |  |  | 1,171 |
APAC |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill | 554 |  |  | 3 |  |  | 7 |  |  | 564 |  |  | — |  |  | — |  |  | (46) |  |  | 518 |
Brands (c) (j) | 445 |  |  | — |  |  | 31 |  |  | 476 |  |  | — |  |  | (172) |  |  | (37) |  |  | 267 |
Total | 999 |  |  | 3 |  |  | 38 |  |  | 1,040 |  |  | — |  |  | (172) |  |  | (83) |  |  | 785 |
Total goodwill | 18,757 |  |  | (251) |  |  | (125) |  |  | 18,381 |  |  | 14 |  |  | — |  |  | (193) |  |  | 18,202 |
Total reacquired franchise rights | 7,603 |  |  | (23) |  |  | (32) |  |  | 7,548 |  |  | — |  |  | — |  |  | (66) |  |  | 7,482 |
Total acquired franchise rights | 1,708 |  |  | 1 |  |  | (13) |  |  | 1,696 |  |  | 230 |  |  | (1) |  |  | (19) |  |  | 1,906 |
Total brands | 8,301 |  |  | (291) |  |  | (127) |  |  | 7,883 |  |  | — |  |  | (3,009) |  |  | 47 |  |  | 4,921 |
Total | $ | 36,369 |  |  | $ | (564) |  |  | $ | (297) |  |  | $ | 35,508 |  |  | $ | 244 |  |  | $ | (3,010) |  |  | $ | (231) |  |  | $ | 32,511 |
(a)Acquisitions/divestitures in 2021 primarily reflect purchase price allocation adjustments related to our acquisition of BFY Brands, Inc. (BFY Brands). Impairment in 2022 is related to a baked fruit convenient food brand. (b)Acquisitions/divestitures in 2021 primarily reflect assets reclassified as held for sale in connection with our Juice Transaction. See Note 13 for further information. Acquisitions/divestitures in 2022 primarily reflect our agreement with Celsius to distribute Celsius energy drinks in the United States. See Note 9 for further information. (c)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. (d)Impairment in 2022 is related to the sale of certain non-strategic brands. See Note 1 for further information. (e)Acquisitions/divestitures in 2021 primarily reflect assets reclassified as held for sale in connection with our Juice Transaction. See Note 13 for further information. (f)Translation and other primarily reflects the depreciation of the euro in 2021 and the depreciation of British pound and euro, partially offset by appreciation of the Russian ruble in 2022. (g)Impairment in 2022 is related to the SodaStream brand, the decrease in fair value as a result of the Russia-Ukraine conflict and the discontinuation or repositioning of certain juice and dairy brands in Russia. (h)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. (i)Impairment in 2022 is primarily related to certain juice brands from the Pioneer Foods acquisition. (j)Impairment in 2022 is related to the Be & Cheery brand.

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