OPERATING SEGMENTS (Tables)

3 Months Ended

6 Months Ended

Jun. 30, 2023

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 June 30, 2023
Net operating revenues:
Third party	$	2,043	$	1,378	$	4,365	$	1,349		$	765	$	2,042		$	30	$	—	$	11,972
Intersegment	145		—		2		218			—		—			—		(365)		—
Total net operating revenues	2,188		1,378		4,367		1,567			765		2,042			30		(365)		11,972
Operating income (loss)	1,133		797		1,216		673			78		122			(1,618)		—		2,401
Income (loss) before income taxes	1,147		802		1,227		675			78		577			(1,626)		—		2,880
Identifiable operating assets	7,729		2,474		26,109		2,453		2, 3	7,622		9,281		2, 3	23,368		—		79,036
Investments1	394		728		15		76			—		13,406			4,801		—		19,420
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		2,054		26,372		2,628		2	7,210		9,881		2	18,928		—		74,794
Investments1	439		605		19		222			—		12,569			4,521		—		18,375
As of December 31, 2022
Identifiable operating assets	$	7,088	$	2,067	$	25,760	$	2,368	2	$	7,325	$	10,232	2	$	19,158	$	—	$	73,998
Investments1	410		629		15		219			—		12,892			4,600		—		18,765

1Principally equity method investments and other investments in bottling companies.

2Property, plant and equipment — net in the Philippines represented 10 percent of consolidated property, plant and equipment — net as of June 30, 2023, July 1, 2022 and December 31, 2022.

3Property, plant and equipment — net in India represented 10 percent of consolidated property, plant and equipment — net as of June 30, 2023.


	Europe, Middle East & Africa		Latin America		North America		Asia Pacific		Global Ventures		Bottling Investments		Corporate		Eliminations		Consolidated
Six Months Ended June 30, 2023
Net operating revenues:
Third party	$	3,874	$	2,764	$	8,267	$	2,534	$	1,472	$	3,986	$	55	$	—	$	22,952
Intersegment	338		—		4		404		—		2		—		(748)		—
Total net operating revenues	4,212		2,764		8,271		2,938		1,472		3,988		55		(748)		22,952
Operating income (loss)	2,268		1,650		2,249		1,236		129		261		(2,025)		—		5,768
Income (loss) before income taxes	2,289		1,657		2,268		1,098		135		1,081		(1,595)		—		6,933
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