v3.26.1
OPERATING SEGMENTS
 6 Months Ended
Jul. 03, 2026
Segment Reporting [Abstract]  
OPERATING SEGMENTS OPERATING SEGMENTS
Our organizational structure consists of the following five operating segments: Europe, Middle East and Africa (“EMEA”), Latin America, North America, Asia Pacific, and Bottling Investments. Information about our Company’s operations by operating segment and Corporate is as follows (in millions):
EMEALatin
America 		North
America		Asia Pacific Bottling
Investments		Operating Segments TotalCorporateEliminationsConsolidated
Three Months Ended July 3, 2026        
Net operating revenues:        
Third party$3,087 $1,839 $5,405 $1,487 $1,525 $13,343 $37 $— $13,380 
Intersegment153 — 3 94 2 252 — (252)— 
Total net operating revenues3,240 1,839 5,408 1,581 1,527 13,595 37 (252)13,380 
Cost of goods sold808 275 2,659 470 1,067 5,279 (62)(252)4,965 
Selling, general and administrative expenses1,123 387 1,048 455 369 3,382 338 — 3,720 
Other operating charges— — 6 — — 6 17 — 23 
Operating income (loss)$1,309 $1,177 $1,695 $656 $91 $4,928 $(256)$— $4,672 
Interest income198 
Interest expense369 
Equity income (loss) — net604 
Other income (loss) — net370 
Income before income taxes$5,475 
Other segment information:
Capital expenditures$47 $— $179 $— $91 $317 $101 $— $418 
Depreciation and amortization51 9 92 12 86 250 16 — 266 
Three Months Ended June 27, 2025        
Net operating revenues:        
Third party$3,008 $1,587 $5,028 $1,464 $1,409 $12,496 $39 $— $12,535 
Intersegment168 — 1 108 2 279 — (279)— 
Total net operating revenues3,176 1,587 5,029 1,572 1,411 12,775 39 (279)12,535 
Cost of goods sold895 263 2,405 476 1,018 5,057 (64)(279)4,714 
Selling, general and administrative expenses956 336 1,003 449 334 3,078 392 — 3,470 
Other operating charges— 31 — — — 31 40 — 71 
Operating income (loss)$1,325 $957 $1,621 $647 $59 $4,609 $(329)$— $4,280 
Interest income188 
Interest expense445 
Equity income (loss) — net561 
Other income (loss) — net212 
Income before income taxes$4,796 
Other segment information:
Capital expenditures$49 $1 $154 $4 $119 $327 $115 $— $442 
Depreciation and amortization55 8 81 10 76 230 49 — 279 
EMEALatin
America 		North
America		Asia Pacific Bottling
Investments		Operating Segments TotalCorporateEliminationsConsolidated
Six Months Ended July 3, 2026        
Net operating revenues:        
Third party$5,894 $3,517 $10,296 $2,913 $3,163 $25,783 $69 $— $25,852 
Intersegment358 — 5 176 4 543 — (543)— 
Total net operating revenues6,252 3,517 10,301 3,089 3,167 26,326 69 (543)25,852 
Cost of goods sold1,577 549 4,991 987 2,178 10,282 (154)(543)9,585 
Selling, general and administrative expenses2,107 753 1,999 910 707 6,476 716 — 7,192 
Other operating charges— — 10 — — 10 34 — 44 
Operating income (loss)$2,568 $2,215 $3,301 $1,192 $282 $9,558 $(527)$— $9,031 
Interest income420 
Interest expense744 
Equity income (loss) — net988 
Other income (loss) — net391 
Income before income taxes$10,086 
Other segment information:
Capital expenditures$100 $— $262 $1 $165 $528 $156 $— $684 
Depreciation and amortization99 17 191 23 169 499 31 — 530 
Six Months Ended June 27, 2025        
Net operating revenues:        
Third party$5,489 $3,064 $9,387 $2,789 $2,870 $23,599 $65 $— $23,664 
Intersegment344 — 3 204 4 555 — (555)— 
Total net operating revenues5,833 3,064 9,390 2,993 2,874 24,154 65 (555)23,664 
Cost of goods sold1,654 537 4,511 866 2,028 9,596 (164)(555)8,877 
Selling, general and administrative expenses1,789 635 1,917 856 668 5,865 839 — 6,704 
Other operating charges— 31 — — — 31 113 — 144 
Operating income (loss)$2,390 $1,861 $2,962 $1,271 $178 $8,662 $(723)$— $7,939 
Interest income368 
Interest expense832 
Equity income (loss) — net912 
Other income (loss) — net466 
Income before income taxes$8,853 
Other segment information:
Capital expenditures$90 $1 $269 $5 $224 $589 $162 $— $751 
Depreciation and amortization99 15 162 22 152 450 96 — 546 
Effective March 31, 2026, our Company’s chief operating decision maker (“CODM”) is our Chief Executive Officer. Information about total assets by segment is not disclosed because such information is not regularly provided to, or used by, our CODM.
During the three and six months ended July 3, 2026 and June 27, 2025, our operating segments and Corporate were impacted by acquisition and divestiture activities. Refer to Note 2. Additionally, during the three and six months ended July 3, 2026 and June 27, 2025, our operating segments and Corporate were impacted by certain significant operating and nonoperating items. Refer to Note 12.