Faster, stronger, better. Annual report 2019 creating more smiles with every sip


2018 2017 Property, plant and equipment, net



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Bog'liq
2019 Annual Report

2019
2018
2017
Property, plant and equipment, net
Land
$
1,130
$
1,078
Buildings and improvements
15 - 44
9,314
8,941
Machinery and equipment, including fleet and software
5 - 15
29,390
27,715
Construction in progress
3,169
2,430
43,003
40,164
Accumulated depreciation
(23,698)
(22,575)
Total
$ 19,305
$ 17,589
Depreciation expense
$
2,257
$
2,241
$
2,227
Property, plant and equipment is recorded at historical cost. Depreciation and amortization are recognized 
on a straight-line basis over an asset’s estimated useful life. Land is not depreciated and construction in 
progress is not depreciated until ready for service. 
A summary of our amortizable intangible assets is as follows:
2019
2018
2017
Average
Useful Life
(Years)
Gross
Accumulated
Amortization
Net
Gross
Accumulated 
Amortization 
Net 
Amortizable intangible assets, net
Acquired franchise rights
56 – 60 $
846 $
(158) $
688 $ 838 $
(140) $
698
Reacquired franchise rights
5 – 14
106
(105)
1
106
(105)
1
Brands
20 – 40
1,326
(1,066)
260
1,306
(1,032)
274
Other identifiable intangibles 
(a)
10 – 24
810
(326)
484
959
(288)
671
Total
$ 3,088 $
(1,655) $ 1,433 $ 3,209 $
(1,565) $ 1,644
Amortization expense
$
81
$
69 $
68
(a) The change from 2018 to 2019 primarily reflects revisions to the purchase price allocation for our acquisition of SodaStream.
Amortization of intangible assets for each of the next five years, based on existing intangible assets as of 
December 28, 2019 and using average 2019 foreign exchange rates, is expected to be as follows:
2020
2021
2022
2023
2024
Five-year projected amortization
$
82
$
80
$
77
$
75
$
74
Depreciable and amortizable assets are evaluated for impairment upon a significant change in the operating 
or macroeconomic environment. In these circumstances, if an evaluation of the undiscounted cash flows 
indicates impairment, the asset is written down to its estimated fair value, which is based on discounted future 
cash flows. Useful lives are periodically evaluated to determine whether events or circumstances have 
occurred which indicate the need for revision.
Indefinite-Lived Intangible Assets
We did not recognize any impairment charges for goodwill in each of the years ended December 28, 2019, 
December 29, 2018 and December 30, 2017. We did not recognize any material impairment charges 
for indefinite-lived intangible assets in each of the years ended December 28, 2019, December 29, 2018 and 
December 30, 2017. As of December 28, 2019, the estimated fair values of our indefinite-lived reacquired 
and acquired franchise rights recorded at PBNA exceeded their carrying values. However, there could be an 


91
impairment of the carrying value of PBNA’s reacquired and acquired franchise rights if future revenues and 
their contribution to the operating results of PBNA’s CSD business do not achieve our expected future cash 
flows or if macroeconomic conditions result in a future increase in the weighted-average cost of capital used 
to estimate fair value. We have also analyzed the impact of the macroeconomic conditions in Russia and 
Brazil on the estimated fair value of our indefinite-lived intangible assets in these countries and have concluded 
that there were no impairments for the year ended December 28, 2019. However, there could be an impairment 
of the carrying value of certain brands in these countries, including juice and dairy brands in Russia, if there 
is a deterioration in these conditions, if future revenues and their contributions to the operating results do not 
achieve our expected future cash flows (including perpetuity growth assumptions), if there are significant 
changes in the decisions regarding assets that do not perform consistent with our expectations, or if 
macroeconomic conditions result in a future increase in the weighted-average cost of capital used to estimate 
fair value. For further information on our policies for indefinite-lived intangible assets, see Note 2.


92
The change in the book value of indefinite-lived intangible assets is as follows:

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