v3.26.1
OPERATING SEGMENTS
 3 Months Ended
Apr. 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 April 3, 2026        
Net operating revenues:        
Third party$2,807 $1,678 $4,891 $1,426 $1,638 $12,440 $32 $— $12,472 
Intersegment205 — 2 82 2 291 — (291)— 
Total net operating revenues3,012 1,678 4,893 1,508 1,640 12,731 32 (291)12,472 
Cost of goods sold769 274 2,332 517 1,111 5,003 (92)(291)4,620 
Selling, general and administrative expenses984 366 951 455 338 3,094 378 — 3,472 
Other operating charges— — 4 — — 4 17 — 21 
Operating income (loss)$1,259 $1,038 $1,606 $536 $191 $4,630 $(271)$— $4,359 
Interest income222 
Interest expense375 
Equity income (loss) — net384 
Other income (loss) — net21 
Income before income taxes$4,611 
Other segment information:
Capital expenditures$53 $— $83 $1 $74 $211 $55 $— $266 
Depreciation and amortization48 8 99 11 83 249 15 — 264 
Three Months Ended March 28, 2025        
Net operating revenues:        
Third party$2,481 $1,477 $4,359 $1,325 $1,461 $11,103 $26 $— $11,129 
Intersegment176 — 2 96 2 276 — (276)— 
Total net operating revenues2,657 1,477 4,361 1,421 1,463 11,379 26 (276)11,129 
Cost of goods sold759 274 2,106 390 1,010 4,539 (100)(276)4,163 
Selling, general and administrative expenses833 299 914 407 334 2,787 447 — 3,234 
Other operating charges— — — — — — 73 — 73 
Operating income (loss)$1,065 $904 $1,341 $624 $119 $4,053 $(394)$— $3,659 
Interest income180 
Interest expense387 
Equity income (loss) — net351 
Other income (loss) — net254 
Income before income taxes$4,057 
Other segment information:
Capital expenditures$41 $— $115 $1 $105 $262 $47 $— $309 
Depreciation and amortization44 7 81 12 76 220 47 — 267 
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 months ended April 3, 2026 and March 28, 2025, our operating segments and Corporate were impacted by acquisition and divestiture activities. Refer to Note 2. Additionally, during the three months ended April 3, 2026 and March 28, 2025, our operating segments and Corporate were impacted by certain significant operating and nonoperating items. Refer to Note 12.