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Segment Reporting (Tables)

12 Months Ended

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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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.

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