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Operating Segments
3 Months Ended
Mar. 31, 2017
Operating Segments [Abstract]  
Operating Segments
OPERATING SEGMENTS
Information about our Company's operations by operating segment as of and for the three months ended March 31, 2017 and April 1, 2016 is as follows (in millions):
 
Europe, Middle East & Africa

Latin
America

North
America

Asia Pacific

Bottling
Investments

Corporate

Eliminations

Consolidated

2017
 
 
 
 
 
 
 
 
Net operating revenues:
 
 
 
 
 
 
 
 
Third party
$
1,632

$
913

$
1,622

$
1,078

$
3,844

$
29

$

$
9,118

Intersegment

13

772

130

23


(938
)

Total net revenues
1,632

926

2,394

1,208

3,867

29

(938
)
9,118

Operating income (loss)
867

505

569

545

(110
)
(394
)

1,982

Income (loss) before income taxes
885

507

473

549

(542
)
(365
)

1,507

Identifiable operating assets
5,044

1,959

17,040

2,157

15,165

31,853


73,218

Noncurrent investments
1,345

874

106

166

12,056

3,436


17,983

2016
 
 
 
 
 
 
 
 
Net operating revenues:
 
 
 
 
 
 
 
 
Third party
$
1,609

$
917

$
1,421

$
1,102

$
5,251

$
(18
)
$

$
10,282

Intersegment
141

18

943

133

41

3

(1,279
)

Total net revenues
1,750

935

2,364

1,235

5,292

(15
)
(1,279
)
10,282

Operating income (loss)
927

523

581

551

(118
)
(323
)

2,141

Income (loss) before income taxes
950

518

580

554

(432
)
(276
)

1,894

Identifiable operating assets
4,316

2,108

16,776

2,178

22,266

29,823


77,467

Noncurrent investments
1,356

692

106

160

8,170

3,312


13,796

As of December 31, 2016
 
 
 
 
 
 
 
 
Identifiable operating assets
$
4,067

$
1,785

$
16,566

$
2,024

$
15,973

$
29,606

$

$
70,021

Noncurrent investments
1,302

804

109

164

11,456

3,414


17,249


During the three months ended March 31, 2017, the results of our operating segments were impacted by the following items:
Operating income (loss) and income (loss) before income taxes were reduced by $2 million for Europe, Middle East and Africa, $35 million for North America, $1 million for Asia Pacific, $14 million for Bottling Investments and $87 million for Corporate due to the Company's productivity and reinvestment program as well as other restructuring initiatives. Refer to Note 10 and Note 11 for additional information on each of the Company's productivity, restructuring and integration initiatives.
Operating income (loss) and income (loss) before income taxes were reduced by $57 million for Bottling Investments due to costs incurred to refranchise certain of our bottling operations. Refer to Note 2 and Note 10.
Operating income (loss) and income (loss) before income taxes were reduced by $84 million for Bottling Investments and $20 million for Corporate due to impairment charges recorded on certain of the Company's intangible assets. Refer to Note 1 and Note 10.
Income (loss) before income taxes was reduced by $4 million for Europe, Middle East and Africa, $53 million for Bottling Investments and $1 million for Corporate due to the Company's proportionate share of significant operating and nonoperating items recorded by certain of our equity method investees. Refer to Note 10.
Income (loss) before income taxes was reduced by $106 million for North America primarily related to payments made to convert the bottling agreements for certain North America bottling partners' territories to a single form of CBA with additional requirements. Refer to Note 2.
Income (loss) before income taxes was reduced by $497 million for Bottling Investments due to the refranchising of certain bottling territories in North America. Refer to Note 2 and Note 10.
During the three months ended April 1, 2016, the results of our operating segments were impacted by the following items:
Operating income (loss) and income (loss) before income taxes were reduced by $3 million for Europe, Middle East and Africa, $31 million for North America, $1 million for Asia Pacific, $220 million for Bottling Investments and $7 million for Corporate due to the Company's productivity and reinvestment program as well as other restructuring initiatives. Refer to Note 10 and Note 11.
Operating income (loss) and income (loss) before income taxes were reduced by $45 million for Bottling Investments due to costs incurred to refranchise certain of our bottling operations. Refer to Note 2 and Note 10.
Income (loss) before income taxes was reduced by $369 million for Bottling Investments due to the refranchising of certain bottling territories in North America. Refer to Note 2 and Note 10.
Income (loss) before income taxes was reduced by $3 million for Bottling Investments due to the Company's proportionate share of significant operating and nonoperating items recorded by certain of our equity method investees. Refer to Note 10.
Income (loss) before income taxes was increased by $18 million for Corporate as a result of the disposal of our investment in Keurig. Refer to Note 2.