GOODWILL

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

The following table provides information related to the carrying value of our goodwill by operating segment (in millions):


	EMEA		Latin America		North America		Asia Pacific		Bottling Investments		Total
2024
Balance at beginning of year	$	3,647	$	226	$	10,978	$	417	$	3,090	$	18,358
Effect of foreign currency translation	(107)		(11)		—		(10)		(84)		(212)


Impairment charges	—		—		—		—		(6)		(6)
Divestitures	—		—		—		—		(1)		(1)
Balance at end of year	$	3,540	$	215	$	10,978	$	407	$	2,999	$	18,139
2025
Balance at beginning of year	$	3,540	$	215	$	10,978	$	407	$	2,999	$	18,139
Effect of foreign currency translation	311		12		—		2		396		721



Divestitures and assets held for sale1	(8)		—		—		—		(3,361)		(3,369)
Balance at end of year	$	3,843	$	227	$	10,978	$	409	$	34	$	15,491

1The decrease in the Bottling Investments segment was a result of the Company’s bottling operations in Africa being classified as held for sale. Refer to Note 2.