Property, Plant and Equipment Disclosure
Asset Age Ratios (Summary)
Average Age
Estimated Total Useful Life
Estimated Age, Time Elapsed Since Purchase
Estimated Remaining Life

Coca-Cola Co., balance sheet: property, plant and equipment

US$ in millions

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Land	229)	611)	652)	676)	659)
Buildings and improvements	4,647)	4,434)	4,349)	4,782)	4,576)
Machinery and equipment	13,593)	14,030)	13,861)	14,242)	13,686)
Property, plant and equipment, cost	18,469)	19,075)	18,862)	19,700)	18,921)
Accumulated depreciation	(9,233)	(9,234)	(8,942)	(8,923)	(8,083)
Property, plant and equipment, net	9,236)	9,841)	9,920)	10,777)	10,838)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Item	Description	The company
Property, plant and equipment, cost	Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Coca-Cola Co. property, plant and equipment, cost increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Property, plant and equipment, net	Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.	Coca-Cola Co. property, plant and equipment, net decreased from 2021 to 2022 and from 2022 to 2023.

Coca-Cola Co., asset age ratios

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Average age ratio	50.62%	50.01%	49.10%	46.90%	44.26%
Estimated total useful life (years)	18	16	14	14	15
Estimated age, time elapsed since purchase (years)	9	8	7	7	7
Estimated remaining life (years)	9	8	7	8	8

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Asset age ratio	Description	The company
Average age ratio	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	Coca-Cola Co. average age ratio of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.
Estimated total useful life	Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors.	Coca-Cola Co. estimated total useful life of depreciable property, plant and equipment increased from 2021 to 2022 and from 2022 to 2023.
Estimated time elapsed since purchase	The approximate age in years of a company fixed assets. Useful for comparison purposes.	Coca-Cola Co. estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.
Estimated remaining life		Coca-Cola Co. estimated remaining life of depreciable property, plant and equipment increased from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Accumulated depreciation	9,233)	9,234)	8,942)	8,923)	8,083)
Property, plant and equipment, cost	18,469)	19,075)	18,862)	19,700)	18,921)
Land	229)	611)	652)	676)	659)
Asset Age Ratio
Average age¹	50.62%	50.01%	49.10%	46.90%	44.26%

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

¹ Average age = 100 × Accumulated depreciation ÷ (Property, plant and equipment, cost – Land)
= 100 × 9,233 ÷ (18,469 – 229) = 50.62%

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Asset age ratio	Description	The company
Average age	As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient.	Coca-Cola Co. average age ratio of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Property, plant and equipment, cost	18,469)	19,075)	18,862)	19,700)	18,921)
Land	229)	611)	652)	676)	659)
Depreciation expense and amortization expense for leasehold improvements	1,032)	1,138)	1,277)	1,319)	1,226)
Asset Age Ratio (Years)
Estimated total useful life¹	18	16	14	14	15

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

¹ Estimated total useful life = (Property, plant and equipment, cost – Land) ÷ Depreciation expense and amortization expense for leasehold improvements
= (18,469 – 229) ÷ 1,032 = 18

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Asset age ratio	Description	The company
Estimated total useful life	Over longer time periods, this ratio is a useful measure of company depreciation policy and can be used for comparisons with competitors.	Coca-Cola Co. estimated total useful life of depreciable property, plant and equipment increased from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Accumulated depreciation	9,233)	9,234)	8,942)	8,923)	8,083)
Depreciation expense and amortization expense for leasehold improvements	1,032)	1,138)	1,277)	1,319)	1,226)
Asset Age Ratio (Years)
Time elapsed since purchase¹	9	8	7	7	7

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

¹ Time elapsed since purchase = Accumulated depreciation ÷ Depreciation expense and amortization expense for leasehold improvements
= 9,233 ÷ 1,032 = 9

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Asset age ratio	Description	The company
Estimated time elapsed since purchase	The approximate age in years of a company fixed assets. Useful for comparison purposes.	Coca-Cola Co. estimated time elapsed since purchase of depreciable property, plant and equipment deteriorated from 2021 to 2022 and from 2022 to 2023.

	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Selected Financial Data (US$ in millions)
Property, plant and equipment, net	9,236)	9,841)	9,920)	10,777)	10,838)
Land	229)	611)	652)	676)	659)
Depreciation expense and amortization expense for leasehold improvements	1,032)	1,138)	1,277)	1,319)	1,226)
Asset Age Ratio (Years)
Estimated remaining life¹	9	8	7	8	8

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

2023 Calculations

¹ Estimated remaining life = (Property, plant and equipment, net – Land) ÷ Depreciation expense and amortization expense for leasehold improvements
= (9,236 – 229) ÷ 1,032 = 9

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Asset age ratio	Description	The company
Estimated remaining life		Coca-Cola Co. estimated remaining life of depreciable property, plant and equipment increased from 2021 to 2022 and from 2022 to 2023.

Coca-Cola Co. (NYSE:KO)

Analysis of Property, Plant and Equipment

Property, Plant and Equipment Disclosure

Asset Age Ratios (Summary)

Average Age

Estimated Total Useful Life

Estimated Age, Time Elapsed since Purchase

Estimated Remaining Life