Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

Coca-Cola Co., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash and cash equivalents	10,270)	10,828)	9,366)	9,519)	9,684)
Short-term investments	3,602)	2,020)	2,997)	1,043)	1,242)
Cash, cash equivalents and short-term investments	13,872)	12,848)	12,363)	10,562)	10,926)
Marketable securities	1,934)	1,723)	1,300)	1,069)	1,699)
Trade accounts receivable, less allowances	3,038)	3,569)	3,410)	3,487)	3,512)
Inventories	4,425)	4,728)	4,424)	4,233)	3,414)
Prepaid expenses and other current assets	2,433)	2,998)	5,235)	3,240)	2,994)
Assets held for sale	5,342)	131)	—)	—)	—)
Current assets	31,044)	25,997)	26,732)	22,591)	22,545)
Equity method investments	20,235)	18,087)	19,671)	18,264)	17,598)
Deferred income tax assets	1,206)	1,319)	1,561)	1,746)	2,129)
Property, plant and equipment, net	9,613)	10,303)	9,236)	9,841)	9,920)
Trademarks with indefinite lives	12,531)	13,301)	14,349)	14,214)	14,465)
Goodwill	15,491)	18,139)	18,358)	18,782)	19,363)
Other noncurrent assets	14,696)	13,403)	7,796)	7,325)	8,334)
Noncurrent assets	73,772)	74,552)	70,971)	70,172)	71,809)
Total assets	104,816)	100,549)	97,703)	92,763)	94,354)

Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).

Total assets exhibited a generally increasing trend over the five-year period, rising from US$94,354 million in 2021 to US$104,816 million in 2025. However, this growth wasn’t consistent year-over-year, with a slight decrease observed between 2021 and 2022. The composition of assets shifted notably during this period, with changes in both current and noncurrent asset categories.

Liquidity and Current Assets: Current assets demonstrated considerable volatility. After remaining relatively stable between 2021 and 2022, they increased significantly in 2023 to US$26,732 million, before decreasing in 2024 and then rising sharply in 2025 to US$31,044 million. This fluctuation was largely driven by changes in prepaid expenses and other current assets, and the introduction of ‘Assets held for sale’ in 2024 and a substantial increase in 2025. Cash, cash equivalents, and short-term investments also showed an upward trend overall, though with some annual variation. Trade accounts receivable remained relatively consistent, with a slight decrease in 2025. Inventories increased between 2021 and 2023, then leveled off and decreased slightly in 2025.
Long-Term Investments and Intangible Assets: Equity method investments showed a consistent upward trend, increasing from US$17,598 million in 2021 to US$20,235 million in 2025. Deferred income tax assets experienced a steady decline throughout the period. Property, plant, and equipment, net, remained relatively stable, with a slight increase in 2024. Trademarks with indefinite lives decreased steadily from US$14,465 million in 2021 to US$12,531 million in 2025. Goodwill also experienced a consistent decline, decreasing from US$19,363 million in 2021 to US$15,491 million in 2025. Other noncurrent assets increased significantly in 2024 and 2025.
Noncurrent Assets and Total Asset Trends: Noncurrent assets generally remained stable between 2021 and 2023, then increased in 2024, before decreasing slightly in 2025. The decrease in goodwill and trademarks with indefinite lives was partially offset by increases in equity method investments and other noncurrent assets. The overall increase in total assets between 2021 and 2025 suggests expansion or strategic acquisitions, although the fluctuations in current assets warrant further investigation to understand the underlying drivers.

The significant increase in ‘Assets held for sale’ in 2024 and 2025 suggests potential divestitures or restructuring activities. The changes in prepaid expenses and other current assets also require further scrutiny to determine their impact on the company’s financial position.

Coca-Cola Co. (NYSE:KO)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items