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OPERATING SEGMENTS (Tables)
 3 Months Ended
Apr. 01, 2022
Segment Reporting Information [Line Items]  
Schedule of Segment Reporting Information, by Segment
Information about our Company’s operations by operating segment and Corporate is as follows (in millions):
Europe, Middle East & Africa Latin
America 		North
America		Asia Pacific Global Ventures Bottling
Investments		CorporateEliminationsConsolidated
As of and for the Three Months Ended April 1, 2022        
Net operating revenues:        
Third party$1,661 $1,214 $3,589 $1,231 $729 $2,042 $25 $— $10,491 
Intersegment172 — 1 180 — 2 — (355)— 
Total net operating revenues1,833 1,214 3,590 1,411 729 2,044 25 (355)10,491 
Operating income (loss)1,007 760 1,056 664 51 193 (326)— 3,405 
Income (loss) before income taxes1,023 757 1,064 670 56 393 (505)— 3,458 
Identifiable operating assets8,092 
2
1,988 26,395 2,574 
3
7,755 10,710 
2,3
17,564 — 75,078 
Investments1
415 633 19 232 — 13,193 4,494 — 18,986 
As of and for the Three Months Ended April 2, 2021        
Net operating revenues:        
Third party$1,462 $909 $2,936 $1,232 $570 $1,894 $17 $— $9,020 
Intersegment161 — 1 170 — 2 — (334)— 
Total net operating revenues1,623 909 2,937 1,402 570 1,896 17 (334)9,020 
Operating income (loss)820 552 792 686 26 141 (295)— 2,722 
Income (loss) before income taxes830 555 816 695 27 317 (477)— 2,763 
Identifiable operating assets8,335 
2
1,650 19,792 2,332 
3
7,843 10,426 
2,3
19,843 — 70,221 
Investments1
466 595 343 249 4 13,833 4,282 — 19,772 
As of December 31, 2021        
Identifiable operating assets$7,908 
2
$1,720 $25,730 $2,355 
3
$7,949 $10,312 
2,3
$19,964 $— $75,938 
Investments1
436 594 21 230 — 12,669 4,466 — 18,416 
1Principally equity method investments and other investments in bottling companies.
2Property, plant and equipment — net in South Africa represented 17 percent, 15 percent and 16 percent of consolidated property, plant and equipment — net as of April 1, 2022, April 2, 2021 and December 31, 2021, respectively.
3Property, plant and equipment — net in the Philippines represented 10 percent of consolidated property, plant and equipment — net as of April 1, 2022, April 2, 2021 and December 31, 2021.