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Intangible Assets (Tables)
12 Months Ended
Dec. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Amortizable Intangible Assets, Net
A summary of our amortizable intangible assets is as follows:
 202320222021
Average
Useful Life (Years)
GrossAccumulated
Amortization
Net GrossAccumulated
Amortization
Net
Acquired franchise rights
56 – 60
$840 $(214)$626 $837 $(200)$637 
Customer relationships
10 – 24
560 (265)295 571 (237)334 
Brands
20 – 40
1,093 (989)104 1,097 (973)124 
Other identifiable intangibles
10 – 24
449 (275)174 447 (265)182 
Total$2,942 $(1,743)$1,199 $2,952 $(1,675)$1,277 
Amortization expense $75 $78 $91 
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 30, 2023 and using average 2023 foreign exchange rates, is expected to be as follows:
20242025202620272028
Five-year projected amortization$72 $70 $62 $60 $59 
Change in Book Value of Nonamortizable Intangible Assets
The change in the book value of indefinite-lived intangible assets is as follows:
Balance,
Beginning
2022
AcquisitionsImpairmentTranslation
and Other
Balance,
End of
2022
AcquisitionsImpairmentTranslation
and Other
Balance,
End of
2023
FLNA
Goodwill$458 $— $— $(7)$451 $— $— $$453 
Brands (a)
340 — (88)(1)251 — — — 251 
Total798 — (88)(8)702 — — 704 
QFNA
Goodwill189 — — — 189 — — — 189 
Total189 — — — 189 — — — 189 
PBNA
Goodwill 11,974 — — (27)11,947 — 10 11,961 
Reacquired franchise rights7,107 — — (46)7,061 36 — 17 7,114 
Acquired franchise rights (b)
1,538 230 — (10)1,758 14 — (35)1,737 
Brands
2,508 — — — 2,508 — — — 2,508 
Total23,127 230 — (83)23,274 54 — (8)23,320 
LatAm
Goodwill433 — — 436 — — 24 460 
Brands (c)
100 — (29)75 — — 82 
Total533 — (29)511 — — 31 542 
Europe
Goodwill (d)(e)
3,700 — — (54)3,646 — (290)(190)3,166 
Reacquired franchise rights441 — — (20)421 — — (2)419 
Acquired franchise rights
158 — (1)(9)148 — — 154 
Brands (e)
4,254 — (2,684)94 1,664 — (572)32 1,124 
Total8,553 — (2,685)11 5,879 — (862)(154)4,863 
AMESA
Goodwill1,063 14 — (62)1,015 34 — (58)991 
Brands (f)
205 — (36)(13)156 — (6)(13)137 
Total1,268 14 (36)(75)1,171 34 (6)(71)1,128 
APAC
Goodwill564 — — (46)518 — — (10)508 
Brands (g)
476 — (172)(37)267 — (59)(4)204 
Total1,040 — (172)(83)785 — (59)(14)712 
Total goodwill18,381 14 — (193)18,202 38 (290)(222)17,728 
Total reacquired franchise rights7,548 — — (66)7,482 36 — 15 7,533 
Total acquired franchise rights1,696 230 (1)(19)1,906 14 — (29)1,891 
Total brands7,883 — (3,009)47 4,921 — (637)22 4,306 
Total$35,508 $244 $(3,010)$(231)$32,511 $88 $(927)$(214)$31,458 
(a)Impairment in 2022 is related to a baked fruit convenient food brand.
(b)Acquisitions in 2022 primarily reflect our agreement with Celsius to distribute Celsius energy drinks in the United States. Translation and other in 2023 primarily reflects adjustments to previously recorded amounts related to our agreement with Celsius. See Note 9 for further information.
(c)Impairment in 2022 is related to the sale of certain non-strategic brands. See Note 1 for further information.
(d)Translation and other in 2023 primarily reflects the depreciation of the Russian ruble, partially offset by appreciation of the euro and British pound.
(e)Impairment in 2022 is related to the SodaStream brand, the decrease in fair value as a result of the Russia-Ukraine conflict and the discontinuation or repositioning of certain juice and dairy brands in Russia. Impairments in 2023 are related to SodaStream goodwill and brand.
(f)Impairment is related to brands from the Pioneer Foods acquisition.
(g)Impairment in 2022 and 2023 is related to the Be & Cheery brand.