XML 54 R36.htm IDEA: XBRL DOCUMENT v3.24.0.1
Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Changes in Goodwill
Changes in goodwill consisted of (in millions):

Latin AmericaAMEAEuropeNorth AmericaTotal
January 1, 2022$674 $3,365 $7,830 $10,109 $21,978 
Currency41 (233)(550)(15)(757)
Acquisitions (1)
714 — 795 1,020 2,529 
Held for Sale (2)
— — (66)(226)(292)
Divestitures(8)— — — (8)
Balance at December 31, 2022$1,421 $3,132 $8,009 $10,888 $23,450 
Currency180 (67)341 19 473 
Acquisitions (1) (3)
6 — — (33)(27)
Balance at December 31, 2023$1,607 $3,065 $8,350 $10,874 $23,896 

(1)Refer to Note 2, Acquisitions and Divestitures for more information.
(2)During the fourth quarter of 2022, we agreed to sell our gum business in North America and Europe. As a result, we reclassified $292 million of goodwill to held for sale as of December 31, 2022. On October 1, 2023, we completed the sale of our gum business including the related goodwill. Refer to Note 2, Acquisitions and Divestitures for more information.
(3)Relates to purchase price allocation adjustments for Ricolino and Clif Bar during 2023.
Schedule of Finite-Lived Intangible Assets
Intangible assets consisted of the following (in millions):

As of December 31, 2023As of December 31, 2022
Gross carrying amountAccumulated amortizationNet carrying amountGross carrying amountAccumulated amortizationNet carrying amount
Definite-life intangible assets (1)
$3,322 $(2,155)$1,167 $3,354 $(2,057)$1,297 
Indefinite-life intangible assets (1) (2)
18,669 — 18,669 18,413 — 18,413 
Total$21,991 $(2,155)$19,836 $21,767 $(2,057)$19,710 

(1)During the fourth quarter of 2022, we agreed to sell our gum business in North America and Europe. As a result, we reclassified $671 million of intangible assets to held for sale as of December 31, 2022. On October 1, 2023, we completed the sale of our gum business including these intangibles. Refer to Note 2, Acquisitions and Divestitures for more information.
(2)We recorded intangible asset impairments of $26 million in 2023 and $101 million in 2022 within asset impairment and exit costs.
Schedule of Indefinite-Lived Intangible Assets
Intangible assets consisted of the following (in millions):

As of December 31, 2023As of December 31, 2022
Gross carrying amountAccumulated amortizationNet carrying amountGross carrying amountAccumulated amortizationNet carrying amount
Definite-life intangible assets (1)
$3,322 $(2,155)$1,167 $3,354 $(2,057)$1,297 
Indefinite-life intangible assets (1) (2)
18,669 — 18,669 18,413 — 18,413 
Total$21,991 $(2,155)$19,836 $21,767 $(2,057)$19,710 

(1)During the fourth quarter of 2022, we agreed to sell our gum business in North America and Europe. As a result, we reclassified $671 million of intangible assets to held for sale as of December 31, 2022. On October 1, 2023, we completed the sale of our gum business including these intangibles. Refer to Note 2, Acquisitions and Divestitures for more information.
(2)We recorded intangible asset impairments of $26 million in 2023 and $101 million in 2022 within asset impairment and exit costs.