Our Company’s acquisitions of businesses, equity method investments and nonmarketable securities totaled $204 million and $356 million during the nine months ended October 2, 2026 and September 26, 2025, respectively. The activity during the nine months ended October 2, 2026 and September 26, 2025 included additional investments of $112 million and $54 million, respectively, in an equity method investee in Japan. The activity during the nine months ended October 2, 2026 and September 26, 2025 also included $75 million and $271 million, respectively, of investments in alternative energy limited partnerships. Refer to Note 14 for additional information on these investments.

Proceeds from disposals of businesses, equity method investments and nonmarketable securities totaled $1 million and $1,020 million during the nine months ended October 2, 2026 and September 26, 2025, respectively. In March 2025, the Company sold a portion of our ownership interest in Coca-Cola Europacific Partners plc (“CCEP”), an equity method investee, for which we received cash proceeds of $741 million and recognized a gain of $331 million. In May 2025, the Company refranchised its bottling operations in certain territories in India that were held for sale as of December 31, 2024, for which we received net cash proceeds of $218 million and recognized a gain of $102 million. These gains were recorded in the line item other income (loss) — net in our consolidated statement of income.

In October 2025, the Company entered into a definitive agreement to sell a portion of our interest in our bottling operations in Africa to Coca-Cola HBC AG (“CCHBC”), an equity method investee. Closing is subject to various regulatory approvals and is expected by the end of 2026, upon which we will deconsolidate these bottling operations. We have also agreed to a separate option arrangement for CCHBC to acquire the Company’s remaining 25% ownership interest within a six-year period from closing. As these operations met the criteria to be classified as held for sale, during the year ended December 31, 2025, we were required to record the related assets and liabilities at the lower of carrying value or fair value less any costs to sell based on the estimated proceeds. This resulted in an impairment charge of $1,274 million, primarily due to the negative net foreign currency translation adjustments that will be reclassified into income upon sale. During the three and nine months ended October 2, 2026, we recorded a gain to reduce this impairment charge by $5 million and $61 million, respectively, based on management’s revised estimates. These amounts were recorded in the line item other income (loss) — net in our consolidated statements of income.

During the three months ended October 2, 2026, the Company’s bottling operations in Singapore, Malaysia and Myanmar met the criteria to be classified as held for sale. As a result, we were required to record the related assets and liabilities at the lower of carrying value or fair value less any costs to sell based on the estimated proceeds. As the fair value of the disposal group less any costs to sell exceeded the carrying value, the related assets and liabilities were recorded at their carrying values. Closings are subject to various regulatory approvals and are expected by mid 2027.


	October 2, 2026		December 31, 2025
Cash, cash equivalents and short-term investments	$	243	$	178
Trade accounts receivable, less allowances	415		389
Inventories	630		466
Prepaid expenses and other current assets	440		147
Equity method investments	4		5
Deferred income tax assets	49		46
Property, plant and equipment — net	2,243		1,964
Trademarks with indefinite lives	3		2
Goodwill	3,347		3,350
Other noncurrent assets	102		60
Allowance for reduction of assets held for sale	(1,201)		(1,265)
Assets held for sale	$	6,275	$	5,342
Accounts payable and accrued expenses	$	1,223	$	816
Loans and notes payable	145		187
Current maturities of long-term debt	417		398
Accrued income taxes	25		5
Long-term debt	844		850
Other noncurrent liabilities	159		154
Deferred income tax liabilities	190		160
Liabilities held for sale	$	3,003	$	2,570