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Segment Reporting (Tables) | 12 Months Ended
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Dec. 31, 2023
Segment Reporting [Abstract] |
Schedule of Net Revenues by Segment | Our segment net revenues and earnings, reflecting our current segment structure for all periods presented, were:
| For the Years Ended December 31,
| 2023 |  | 2022 |  | 2021
| (in millions)
Net revenues: |  |  |  |  |
Latin America | $ | 5,006 |  |  | $ | 3,629 |  |  | $ | 2,797 |
AMEA | 7,075 |  |  | 6,767 |  |  | 6,465 |
Europe | 12,857 |  |  | 11,420 |  |  | 11,156 |
North America | 11,078 |  |  | 9,680 |  |  | 8,302 |
Net revenues | $ | 36,016 |  |  | $ | 31,496 |  |  | $ | 28,720 |
Schedule of Earnings Before Income Taxes by Segment |
Earnings before income taxes: |  |  |  |  |
Operating income: |  |  |  |  |
Latin America | $ | 529 |  |  | $ | 388 |  |  | $ | 261 |
AMEA | 1,113 |  |  | 929 |  |  | 1,054 |
Europe | 1,978 |  |  | 1,481 |  |  | 2,092 |
North America | 2,092 |  |  | 1,769 |  |  | 1,371 |
Unrealized gains/(losses) on hedging activities (mark-to-market impacts) | 189 |  |  | (326) |  |  | 279 |
General corporate expenses | (356) |  |  | (245) |  |  | (253) |
Amortization of intangible assets | (151) |  |  | (132) |  |  | (134) |
Net gain on divestitures and acquisitions | 108 |  |  | — |  |  | 8 |
Acquisition-related costs | — |  |  | (330) |  |  | (25) |
Operating income | 5,502 |  |  | 3,534 |  |  | 4,653 |
Benefit plan non-service income | 82 |  |  | 117 |  |  | 163 |
Interest and other expense, net | (310) |  |  | (423) |  |  | (447) |
Gain on marketable securities | 606 |  |  | — |  |  | — |
Earnings before income taxes | $ | 5,880 |  |  | $ | 3,228 |  |  | $ | 4,369 |
Schedule of Total Assets, Depreciation Expense and Capital Expenditure by Segment | Total assets, depreciation expense and capital expenditures by segment, reflecting our current segment structure for all periods presented, were:
| For the Years Ended December 31,
| 2023 |  | 2022 |  | 2021
| (in millions)
Total assets: |  |  |  |  |
Latin America (1) | $ | 7,360 |  |  | $ | 6,164 |  |  | $ | 4,106 |
AMEA (1) | 9,965 |  |  | 9,882 |  |  | 10,386 |
Europe (1) | 22,990 |  |  | 22,713 |  |  | 20,927 |
North America (1) | 25,557 |  |  | 26,603 |  |  | 23,321 |
Equity method investments | 3,242 |  |  | 4,879 |  |  | 5,289 |
Unallocated assets and adjustments (2) | 2,277 |  |  | 920 |  |  | 3,063 |
Total assets | $ | 71,391 |  |  | $ | 71,161 |  |  | $ | 67,092 |
(1)Segment assets do not reflect outstanding intercompany asset balances that have been eliminated at a segment level. (2)Unallocated assets consist primarily of cash and cash equivalents, deferred income taxes, centrally held property, plant and equipment, prepaid pension assets and derivative financial instrument balances. Final adjustments for jurisdictional netting of deferred tax assets and liabilities is done at a consolidated level.
| For the Years Ended December 31,
| 2023 |  | 2022 |  | 2021
| (in millions)
Depreciation expense (1): |  |  |  |  |
Latin America | $ | 161 |  |  | $ | 117 |  |  | $ | 105 |
AMEA | 164 |  |  | 169 |  |  | 173 |
Europe | 255 |  |  | 256 |  |  | 257 |
North America | 161 |  |  | 148 |  |  | 148 |
Total depreciation expense | $ | 741 |  |  | $ | 690 |  |  | $ | 683 |
(1)Includes depreciation expense related to owned property, plant and equipment. Does not include amortization of intangible assets or leased assets. Refer to the consolidated statement of cash flows for total depreciation and amortization expenses.
| For the Years Ended December 31,
| 2023 |  | 2022 |  | 2021
| (in millions)
Capital expenditures: |  |  |  |  |
Latin America | $ | 171 |  |  | $ | 113 |  |  | $ | 165 |
AMEA | 259 |  |  | 229 |  |  | 208 |
Europe | 415 |  |  | 355 |  |  | 409 |
North America | 267 |  |  | 209 |  |  | 183 |
Total capital expenditures | $ | 1,112 |  |  | $ | 906 |  |  | $ | 965 |
Schedule of Net Revenues by Geographic Area | Geographic data for net revenues (recognized in the countries where products are sold from) and long-lived assets, excluding deferred taxes, goodwill, intangible assets and equity method investments, were:
| For the Years Ended December 31,
| 2023 |  | 2022 |  | 2021
| (in millions)
Net revenues: |  |  |  |  |
United States | $ | 9,581 |  |  | $ | 8,315 |  |  | $ | 7,146 |
Other | 26,435 |  |  | 23,181 |  |  | 21,574 |
Total net revenues | $ | 36,016 |  |  | $ | 31,496 |  |  | $ | 28,720 |
Schedule of Long-lived Assets by Geographic Area |
| As of December 31,
| 2023 |  | 2022 |  | 2021
| (in millions)
Long-lived assets: |  |  |  |  |
United States | $ | 2,226 |  |  | $ | 2,740 |  |  | $ | 1,851 |
United Kingdom | 1,012 |  |  | 932 |  |  | 1,125 |
Mexico | 1,331 |  |  | 1,170 |  |  | 927 |
Other | 7,737 |  |  | 7,716 |  |  | 6,748 |
Total long-lived assets | $ | 12,306 |  |  | $ | 12,558 |  |  | $ | 10,651 |
Schedule of Net Revenues by Product Category | Net revenues by product category, reflecting our current segment structure for all periods presented, were:
| For the Year Ended December 31, 2023
| Latin America |  | AMEA |  | Europe |  | North America |  | Total
| (in millions)
Biscuits & Baked Snacks | $ | 1,193 |  |  | $ | 2,488 |  |  | $ | 4,429 |  |  | $ | 9,519 |  |  | $ | 17,629 |
Chocolate | 1,357 |  |  | 2,690 |  |  | 6,225 |  |  | 347 |  |  | 10,619 |
Gum & Candy | 1,509 |  |  | 893 |  |  | 812 |  |  | 1,212 |  |  | 4,426 |
Beverages | 457 |  |  | 593 |  |  | 135 |  |  | — |  |  | 1,185 |
Cheese & Grocery | 490 |  |  | 411 |  |  | 1,256 |  |  | — |  |  | 2,157 |
Total net revenues | $ | 5,006 |  |  | $ | 7,075 |  |  | $ | 12,857 |  |  | $ | 11,078 |  |  | $ | 36,016 |
| For the Year Ended December 31, 2022
| Latin America |  | AMEA |  | Europe |  | North America |  | Total
| (in millions)
Biscuits & Baked Snacks | $ | 1,013 |  |  | $ | 2,515 |  |  | $ | 3,818 |  |  | $ | 8,262 |  |  | $ | 15,608 |
Chocolate | 1,003 |  |  | 2,520 |  |  | 5,646 |  |  | 317 |  |  | 9,486 |
Gum & Candy | 840 |  |  | 780 |  |  | 691 |  |  | 1,101 |  |  | 3,412 |
Beverages | 409 |  |  | 572 |  |  | 119 |  |  | — |  |  | 1,100 |
Cheese & Grocery | 364 |  |  | 380 |  |  | 1,146 |  |  | — |  |  | 1,890 |
Total net revenues | $ | 3,629 |  |  | $ | 6,767 |  |  | $ | 11,420 |  |  | $ | 9,680 |  |  | $ | 31,496 |
| For the Year Ended December 31, 2021 (1)
| Latin America |  | AMEA |  | Europe |  | North America |  | Total
| (in millions)
Biscuits & Baked Snacks | $ | 799 |  |  | $ | 2,254 |  |  | $ | 3,354 |  |  | $ | 7,145 |  |  | $ | 13,552 |
Chocolate | 758 |  |  | 2,395 |  |  | 5,836 |  |  | 282 |  |  | 9,271 |
Gum & Candy | 567 |  |  | 816 |  |  | 614 |  |  | 875 |  |  | 2,872 |
Beverages | 359 |  |  | 550 |  |  | 126 |  |  | — |  |  | 1,035 |
Cheese & Grocery | 314 |  |  | 450 |  |  | 1,226 |  |  | — |  |  | 1,990 |
Total net revenues | $ | 2,797 |  |  | $ | 6,465 |  |  | $ | 11,156 |  |  | $ | 8,302 |  |  | $ | 28,720 |
(1)Our snack product categories include biscuits & baked snacks, chocolate and gum & candy. During the first quarter of 2022, we realigned some of our products between our biscuits & baked snacks and chocolate categories; as such, we reclassified the product category net revenues on a basis consistent with the 2022 presentation.

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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