OPERATING SEGMENTS (Tables)

3 Months Ended

6 Months Ended

Jul. 01, 2022

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			Corporate		Eliminations		Consolidated
As of and for the Three Months Ended July 1, 2022
Net operating revenues:
Third party	$	2,018		$	1,140	$	4,029	$	1,343		$	695	$	2,077		$	23	$	—	$	11,325
Intersegment	166			—		1		223			—		2			—		(392)		—
Total net operating revenues	2,184			1,140		4,030		1,566			695		2,079			23		(392)		11,325
Operating income (loss)	1,291			674		840		753			44		113			(1,374)		—		2,341
Income (loss) before income taxes	1,225			680		848		757			48		453			(1,727)		—		2,284
Identifiable operating assets	7,721		2	2,054		26,372		2,628		3	7,210		9,881		2,3	18,928		—		74,794
Investments1	439			605		19		222			—		12,569			4,521		—		18,375
As of and for the Three Months Ended July 2, 2021
Net operating revenues:
Third party	$	1,874		$	1,067	$	3,379	$	1,350		$	707	$	1,735		$	17	$	—	$	10,129
Intersegment	143			—		2		153			—		3			—		(301)		—
Total net operating revenues	2,017			1,067		3,381		1,503			707		1,738			17		(301)		10,129
Operating income (loss)	1,142			678		950		766			75		92			(687)		—		3,016
Income (loss) before income taxes	1,169			681		959		779			78		422			(470)		—		3,618
Identifiable operating assets	8,574		2	1,748		19,646		2,252		3	7,854		10,375		2,3	20,329		—		70,778
Investments1	478			630		346		231			3		13,382			4,346		—		19,416
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, 16 percent and 16 percent of consolidated property, plant and equipment — net as of July 1, 2022, July 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 July 1, 2022, July 2, 2021 and December 31, 2021.


	Europe, Middle East & Africa		Latin America		North America		Asia Pacific		Global Ventures		Bottling Investments		Corporate		Eliminations		Consolidated
Six Months Ended July 1, 2022
Net operating revenues:
Third party	$	3,679	$	2,354	$	7,618	$	2,574	$	1,424	$	4,119	$	48	$	—	$	21,816
Intersegment	338		—		2		403		—		4		—		(747)		—
Total net operating revenues	4,017		2,354		7,620		2,977		1,424		4,123		48		(747)		21,816
Operating income (loss)	2,298		1,434		1,896		1,417		95		306		(1,700)		—		5,746
Income (loss) before income taxes	2,248		1,437		1,912		1,427		104		846		(2,232)		—		5,742
Six Months Ended July 2, 2021
Net operating revenues:
Third party	$	3,336	$	1,976	$	6,315	$	2,582	$	1,277	$	3,629	$	34	$	—	$	19,149
Intersegment	304		—		3		323		—		5		—		(635)		—
Total net operating revenues	3,640		1,976		6,318		2,905		1,277		3,634		34		(635)		19,149
Operating income (loss)	1,962		1,230		1,742		1,452		101		233		(982)		—		5,738
Income (loss) before income taxes	1,999		1,236		1,775		1,474		105		739		(947)		—		6,381