Intangible Assets (Tables)

12 Months Ended

Dec. 26, 2020

Intangible Assets [Abstract]

Amortizable Intangible Assets, Net

A summary of our amortizable intangible assets is as follows:

		2020						2019						2018
	Average Useful Life (Years)	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
Acquired franchise rights (a)	56 – 60	$	976	$	(173)	$	803	$	846	$	(158)	$	688
Customer relationships (b)	10 – 24	642		(204)		438		457		(177)		280
Brands	20 – 40	1,348		(1,099)		249		1,326		(1,066)		260
Other identifiable intangibles	10 – 24	474		(261)		213		459		(254)		205
Total		$	3,440	$	(1,737)	$	1,703	$	3,088	$	(1,655)	$	1,433
Amortization expense						$	90					$	81	$	69

Future Amortization of Intangible Assets

Amortization is recognized on a straight-line basis over an intangible asset’s estimated useful life. Amortization of intangible assets for each of the next five years, based on existing intangible assets as of December 26, 2020 and using average 2020 foreign exchange rates, is expected to be as follows:

	2021		2022		2023		2024		2025
Five-year projected amortization	$	92	$	89	$	87	$	87	$	84

Change in Book Value of Nonamortizable Intangible Assets

The change in the book value of indefinite-lived intangible assets is as follows:

	Balance, Beginning 2019		Acquisitions		Translation and Other		Balance, End of 2019		Acquisitions		Translation and Other		Balance, End of 2020
FLNA (a)
Goodwill	$	297	$	(3)	$	5	$	299	$	164	$	2	$	465
Brands	161		—		1		162		179		(1)		340
Total	458		(3)		6		461		343		1		805
QFNA
Goodwill	184		6		(1)		189		—		—		189
Brands	25		(14)		—		11		—		(11)		—
Total	209		(8)		(1)		200		—		(11)		189
PBNA (b)
Goodwill	9,813		66		19		9,898		2,280		11		12,189
Reacquired franchise rights	7,058		—		31		7,089		—		18		7,107
Acquired franchise rights	1,510		—		7		1,517		16		3		1,536
Brands	353		418		(8)		763		2,400		(41)		3,122
Total	18,734		484		49		19,267		4,696		(9)		23,954
LatAm
Goodwill	509		—		(8)		501		—		(43)		458
Brands	127		—		(2)		125		—		(17)		108
Total	636		—		(10)		626		—		(60)		566
Europe (c) (d)
Goodwill	3,361		440		160		3,961		(2)		(153)		3,806
Reacquired franchise rights	497		—		8		505		—		(9)		496
Acquired franchise rights	161		—		(4)		157		—		15		172
Brands	4,188		(139)		132		4,181		—		(109)		4,072
Total	8,207		301		296		8,804		(2)		(256)		8,546
AMESA (e)
Goodwill	437		11		(2)		446		560		90		1,096
Brands	—		—		—		—		183		31		214
Total	437		11		(2)		446		743		121		1,310
APAC (f)
Goodwill	207		—		—		207		306		41		554
Brands	101		—		(1)		100		309		36		445
Total	308		—		(1)		307		615		77		999
Total goodwill	14,808		520		173		15,501		3,308		(52)		18,757
Total reacquired franchise rights	7,555		—		39		7,594		—		9		7,603
Total acquired franchise rights	1,671		—		3		1,674		16		18		1,708
Total brands	4,955		265		122		5,342		3,071		(112)		8,301
Total	$	28,989	$	785	$	337	$	30,111	$	6,395	$	(137)	$	36,369

(a)The change in acquisitions in 2020 primarily reflects our acquisition of BFY Brands.

(b)The change in acquisitions in 2020 primarily reflects our acquisition of Rockstar. See Note 14 for further information. The change in acquisitions in 2019 primarily reflects our acquisition of CytoSport Inc.

(c)The change in translation and other in 2020 primarily reflects the depreciation of the Russian ruble. The change in translation and other in 2019 primarily reflects the appreciation of the Russian ruble.

(d)The change in acquisitions in 2019 primarily reflects our acquisition of SodaStream. See Note 14 for further information.

(e)The change in acquisitions in 2020 primarily reflects our acquisition of Pioneer Foods. See Note 14 for further information.

(f)The change in acquisitions in 2020 primarily reflects our acquisition of Be & Cheery. See Note 14 for further information.