Coca-Cola Europacific Partners (CCEP) 6-K 6 Aug 20 2020 Q2 Current report (foreign) Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Jun. 26, 2020
Document and Entity Information [Abstract]
Entity Registrant Name	COCA-COLA EUROPEAN PARTNERS plc
Entity Central Index Key	0001650107
Document Type	6-K
Document Period End Date	Jun. 26, 2020
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2

Condensed Consolidated Interim

Condensed Consolidated Interim Income Statement (Unaudited) - EUR (€) € in Millions	6 Months Ended
	Jun. 26, 2020	Jun. 28, 2019
Profit or loss [abstract]
Revenue	€ 4,837	€ 5,802
Cost of sales	(3,168)	(3,594)
Gross profit	1,669	2,208
Selling and distribution expenses	(961)	(1,101)
Administrative expenses	(440)	(381)
Operating profit	268	726
Finance income	17	26
Finance costs	(72)	(75)
Total finance costs, net	(55)	(49)
Non-operating items	(2)	1
Profit before taxes	211	678
Taxes	(85)	(170)
Profit after taxes	€ 126	€ 508
Basic earnings per share (in EUR per share)	€ 0.28	€ 1.08
Diluted earnings per share (in EUR per share)	€ 0.28	€ 1.07

Condensed Consolidated Interi_2

Condensed Consolidated Interim Statement of Comprehensive Income (Unaudited) - EUR (€) € in Millions	6 Months Ended
	Jun. 26, 2020	Jun. 28, 2019
Statement of comprehensive income [abstract]
Profit after taxes	€ 126	€ 508
Foreign currency translations:
Pretax activity, net	(159)	(16)
Tax effect	0	0
Foreign currency translation, net of tax	(159)	(16)
Cash flow hedges:
Pretax activity, net	(54)	0
Tax effect	15	1
Cash flow hedges, net of tax	(39)	1
Other comprehensive loss for the period, net of tax	(324)	(15)
Total comprehensive income	(198)	493
Dividends recognised as distributions to owners of parent		290
Income tax relating to remeasurements of defined benefit plans included in other comprehensive income	36	0
Other comprehensive income that will not be reclassified to profit or loss, net of tax	(126)	0
Other comprehensive income that will be reclassified to profit or loss, net of tax	(198)	(15)
Other comprehensive income, net of tax, gains (losses) on remeasurements of defined benefit plans	(126)	0
Other comprehensive income, before tax, gains (losses) on remeasurements of defined benefit plans	€ (162)	€ 0

Condensed Consolidated Interi_3

Condensed Consolidated Interim Statement of Financial Position (Unaudited) - EUR (€) € in Millions	Jun. 26, 2020	Dec. 31, 2019	Jun. 28, 2019
Non-current:
Intangible assets	€ 8,395	€ 8,506	€ 8,392
Goodwill	2,514	2,520	2,521
Property, plant and equipment	4,030	4,205	4,184
Non-current derivative assets	4	3	3
Deferred tax assets	10	27	41
Other non-current assets	313	321	286
Total non-current assets	15,266	15,582	15,427
Current:
Current derivative assets	9	12	10
Current tax assets	13	18	8
Inventories	795	723	945
Amounts receivable from related parties	95	106	114
Trade accounts receivable	1,776	1,669	1,974
Other current assets	216	259	230
Cash and cash equivalents	893	316	382
Total current assets	3,797	3,103	3,663
Total assets	19,063	18,685	19,090
Non-current:
Borrowings, less current portion	6,343	5,622	5,676
Employee benefit liabilities	350	221	134
Non-current provisions	54	54	116
Non-current derivative liabilities	34	13	40
Deferred tax liabilities	2,122	2,203	2,160
Non-current tax liabilities	261	254	228
Other non-current liabilities	45	47	52
Total non-current liabilities	9,209	8,414	8,406
Current:
Current portion of borrowings	762	799	620
Current portion of employee benefit liabilities	15	17	18
Current provisions	172	142	74
Current derivative liabilities	63	28	21
Current tax liabilities	81	95	157
Amounts payable to related parties	232	249	379
Trade and other payables	2,697	2,785	3,080
Total current liabilities	4,022	4,115	4,349
Total liabilities	13,231	12,529	12,755
EQUITY
Share capital	5	5	5
Share premium	184	178	167
Merger reserves	287	287	287
Other reserves	(647)	(449)	(567)
Retained earnings	6,003	6,135	6,443
Total equity	5,832	6,156	6,335
Total equity and liabilities	€ 19,063	€ 18,685	€ 19,090

Condensed Consolidated Interi_4

Condensed Consolidated Interim Statement of Cash Flows (Unaudited) - EUR (€) € in Millions	6 Months Ended
	Jun. 26, 2020	Jun. 28, 2019
Cash flows from operating activities:
Profit before taxes	€ 211	€ 678
Adjustments to reconcile profit before tax to net cash flows from operating activities:
Depreciation	303	289
Amortisation of intangible assets	29	25
Share-based payment expense	0	8
Finance costs, net	55	49
Income taxes paid	(79)	(82)
Changes in assets and liabilities:
Decrease/(increase) in trade and other receivables	(144)	(321)
Decrease/(increase) in inventories	(83)	(254)
Increase/(decrease) in trade and other payables	41	265
Increase/(decrease) in provisions	32	(62)
Change in other operating assets and liabilities	(7)	68
Net cash flows from operating activities	353	844
Cash flows from investing activities:
Purchases of property, plant and equipment	(241)	(260)
Purchases of capitalised software	(33)	(44)
Proceeds from sales of property, plant and equipment	35	11
Investments in equity instruments	3	0
Net cash flows used in investing activities	(242)	(293)
Proceeds from non-current borrowings	855	492
Cash flows from financing activities:
Changes in short-term borrowings	94	50
Repayments on third party borrowings	(227)	(175)
Interest paid, net	(59)	(53)
Payments of principal on lease obligations	(60)	(61)
Dividends paid	0	(290)
Purchase of own shares under share buyback programme	(129)	(457)
Exercise of employee share options	6	15
Other financing activities, net	(1)	1
Net cash flows used in financing activities	479	(478)
Net change in cash and cash equivalents	590	73
Net effect of currency exchange rate changes on cash and cash equivalents	(13)	0
Cash and cash equivalents at beginning of period	316	309
Cash and cash equivalents at end of period	893	382
Adjustments for increase (decrease) in net payable receivable from related parties	€ (5)	€ 181

Condensed Consolidated Interi_5

Condensed Consolidated Interim Statement of Changes in Equity Statement (Unaudited) - EUR (€) € in Millions	Total	Share capital	Share premium	Merger reserves	Other reserves	Retained earnings
Equity attributable to owners of parent at Dec. 31, 2018	€ 6,564	€ 5	€ 152	€ 287	€ (552)	€ 6,672
Profit after taxes	508					508
Other comprehensive income / (expense)	(15)				(15)
Total comprehensive income	493				(15)	508
Issue of shares during the period	15		15
Equity-settled share-based payment expense	8					8
Share-based payment tax benefits	2					2
Dividends	(290)					(290)
Own shares purchased under share buyback programme	457					457
Equity attributable to owners of parent at Jun. 28, 2019	6,335	5	167	287	(567)	6,443
Increase (decrease) through treasury share transactions, equity	(457)					(457)
Other comprehensive income / (expense)	(15)				(15)
Equity attributable to owners of parent at Dec. 31, 2019	6,156	5	178	287	(449)	6,135
Profit after taxes	126					126
Other comprehensive income / (expense)	(324)				(198)	(126)
Total comprehensive income	(198)				(198)	0
Issue of shares during the period	6		6
Share-based payment tax benefits	(3)					(3)
Own shares purchased under share buyback programme	129					129
Equity attributable to owners of parent at Jun. 26, 2020	5,832	€ 5	€ 184	€ 287	(647)	6,003
Increase (decrease) through treasury share transactions, equity	(129)					(129)
Other comprehensive income / (expense)	€ (324)				€ (198)	€ (126)

GENERAL INFORMATION AND BASIS O

GENERAL INFORMATION AND BASIS OF PREPARATION	6 Months Ended
	Jun. 26, 2020
Corporate Information And Statement of IFRS Compliance [Abstract]
GENERAL INFORMATION AND BASIS OF PREPARATION	GENERAL INFORMATION AND BASIS OF PREPARATION Coca-Cola European Partners plc (the Company or Parent Company) was created through the Merger on 28 May 2016 of the businesses of Coca-Cola Enterprises, Inc. (CCE), Coca-Cola Iberian Partners, S.A. (CCIP) and Coca-Cola Erfrischungsgetränke GmbH (CCEG) (the Merger). The Company and its subsidiaries (together CCEP, or the Group) are a leading consumer goods group in Western Europe making, selling and distributing an extensive range of non-alcoholic ready to drink beverages. The Company has ordinary shares with a nominal value of €0.01 per share (Shares). CCEP is a public company limited by shares, incorporated under the laws of England and Wales with the registered number in England of 09717350. The Group’s Shares are listed and traded on Euronext Amsterdam, the New York Stock Exchange, London Stock Exchange and on the Spanish Stock Exchanges. The address of the Company’s registered office is Pemberton House, Bakers Road, Uxbridge, UB8 1EZ, United Kingdom. These condensed consolidated interim financial statements do not constitute statutory accounts as defined by Section 434 of the Companies Act 2006. They have been reviewed but not audited by the Group’s auditor, unless otherwise stated. The statutory accounts for the Company for the year ended 31 December 2019, which were prepared in accordance with IFRS as issued by the International Accounting Standards Board (IASB), IFRS as adopted by the European Union and in accordance with the provisions of the Companies Act 2006, have been delivered to the Registrar of Companies. The auditor’s opinion on those accounts was unqualified and did not contain a statement made under section 498 (2) or (3) of the Companies Act 2006. Impact of COVID-19 pandemic The COVID-19 pandemic and related response measures have had and may continue to have an adverse effect on global economic conditions, as well as our business, results of operations, cash flows and financial condition. At this time, we cannot predict the degree to which, or the time period over which, our business will continue to be affected by the COVID-19 pandemic and the related response measures. These impacts limit the comparability of these condensed consolidated interim financial statements with prior periods. Additionally, operating results for the first half of 2020 may not be indicative of the results for the year ended 31 December 2020. In addition, as part of the preparation of these condensed consolidated interim financial statements, we have considered the impact of the COVID-19 pandemic on our accounting policies and judgements and estimates. The following is a summary of the key accounting impacts and considerations for the Group: • We have performed an interim impairment review of our goodwill and intangible assets after concluding that the COVID-19 pandemic was a triggering event and potential impairment indicator under IAS 36, “Impairment of Assets.” No impairment charges were recorded as a result of this review. Please refer to Note 4 for further detail. • Due to the widespread closure of outlets in the away from home (AFH) channel, we have assessed our expected credit losses from impacted trade receivables and recorded a corresponding allowance for future losses. In doing so, we have taken into consideration deferred payment terms that we have provided to certain customers to support them throughout the crisis. • Similarly, we have performed an assessment of the net realisable value of inventory within the AFH channel and a corresponding provision has been recorded. This provision principally relates to product write-offs of finished goods inventory including bag in the box, which tends to have a shorter shelf life than other packages. • We have also performed an interim review and revaluation of certain pension schemes and recorded a pension remeasurement adjustment, primarily relating to changes in certain financial assumptions for our GB Scheme. These changes resulted in a €145m increase to the employment benefit liability and a corresponding charge to Other Comprehensive Income. Basis of Preparation and Accounting Policies The condensed consolidated interim financial statements of the Group have been prepared in accordance with the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority and International Accounting Standard 34, “Interim Financial Reporting” (IAS 34) and should be read in conjunction with our 2019 Consolidated Financial Statements. The 2019 Consolidated Financial Statements were prepared in accordance with IFRS as issued by the IASB, IFRS as adopted by the European Union and in accordance with the provisions of the Companies Act 2006. The 2019 Consolidated Financial Statements include a full description of the Group’s accounting policies. The same accounting policies and methods of computation have been used as described in the 2019 Consolidated Financial Statements, with the exception of taxes on income. Taxes on income in interim periods are accrued using the tax rate that would be applicable to expected total annual profit or loss. Several amendments and interpretations apply for the first time in 2020, but do not have a material impact on the condensed consolidated interim financial statements of the Group. Reporting periods Results are presented for the interim period from 1 January 2020 to 26 June 2020. The Group’s financial year ends on 31 December. For half-yearly reporting convenience, the first six month period closes on the Friday closest to the end of the interim calendar period. There was one less selling day in the six months ended 26 June 2020 versus the six months ended 28 June 2019, and there will be two more selling days in the second six months of 2020 versus the second six months of 2019 (based upon a standard five-day selling week). The following table summarises the number of selling days, for the years ended 31 December 2020 and 31 December 2019 (based on a standard five-day selling week): Half year Full year 2020 128 262 2019 129 261 Change -1 1 Trading seasonality In addition to the impact of the COVID-19 pandemic (refer to Note 1), operating results for the first half of 2020 may not be indicative of the results expected for the year ended 31 December 2020 as sales of the Group’s products are seasonal, with the second and third quarters typically accounting for higher unit sales of the Group’s products than the first and fourth quarters. The seasonality of the Group’s sales volume, combined with the accounting for fixed costs such as depreciation, amortisation, rent and interest expense, impacts the Group’s results for the first half of the year. Additionally, year-over-year shifts in holidays, selling days and weather patterns can impact the Group’s results on an annual or half-yearly basis. Exchange rates The Group’s reporting currency is the Euro. CCEP translates the income statements of non-Euro functional currency subsidiary operations to the Euro at average exchange rates and the balance sheets at the closing exchange rate as at the end of the period. The principal exchange rates used for translation purposes in respect of one Euro were: Average for the Six Months Ended Closing as at 26 June 2020 28 June 2019 26 June 2020 31 December 2019 28 June 2019 UK Sterling 1.15 1.14 1.10 1.18 1.12 US Dollar 0.91 0.89 0.89 0.89 0.88 Norwegian Krone 0.09 0.10 0.09 0.10 0.10 Swedish Krone 0.09 0.10 0.10 0.10 0.09 Icelandic Krone 0.01 0.01 0.01 0.01 0.01

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 26, 2020
Earnings per share [abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE Basic earnings per share is calculated by dividing profit after taxes by the weighted average number of Shares in issue and outstanding during the period. Diluted earnings per share is calculated in a similar manner, but includes the effect of dilutive securities, principally share options, restricted stock units and performance share units. Share-based payment awards that are contingently issuable upon the achievement of specified market and/or performance conditions are included in the diluted earnings per share calculation based on the number of Shares that would be issuable if the end of the period was the end of the contingency period. The following table summarises basic and diluted earnings per share calculations for the periods presented: Six Months Ended 26 June 2020 28 June 2019 Profit after taxes attributable to equity shareholders (€ million) 126 508 Basic weighted average number of Shares in issue [1] (million) 455 472 Effect of dilutive potential Shares [2] (million) 2 3 Diluted weighted average number of Shares in issue [1] (million) 457 475 Basic earnings per share (€) 0.28 1.08 Diluted earnings per share (€) 0.28 1.07 [1] As at 26 June 2020 and 28 June 2019, the Group had 454,163,561 and 466,671,427 Shares, respectively, in issue and outstanding. [2] For the six months ended 26 June 2020 and 28 June 2019, there were no outstanding options to purchase Shares excluded from the diluted earnings per share calculation. The dilutive impact of the remaining options outstanding, unvested restricted stock units and unvested performance share units was included in the effect of dilutive securities.

OPERATING SEGMENT

OPERATING SEGMENT	6 Months Ended
	Jun. 26, 2020
Operating Segments [Abstract]
OPERATING SEGMENT	OPERATING SEGMENT Description of segment and principal activities The Group evaluates its segmental reporting under IFRS 8, Operating Segments. The Group derives its revenues through a single business activity, which is making, selling and distributing non-alcoholic ready to drink beverages. The Group operates solely in developed markets in Western Europe and has a homogenous product portfolio across its geographic territories. Based on the governance structure of the Group, including decision making authority and oversight, the Group has determined that the Board is its Chief Operating Decision Maker (CODM). The Board, as the CODM, allocates resources and evaluates performance at a consolidated level and, therefore, the Group has one operating segment. Revenue by geography The following table summarises revenue from external customers by geography, which is based on the origin of the sale: Six Months Ended 26 June 2020 28 June 2019 Revenue: € million € million Great Britain 1,026 1,151 Germany 1,014 1,171 Iberia [1] 917 1,282 France [2] 808 967 Belgium/Luxembourg 426 493 Netherlands 250 295 Norway 199 218 Sweden 162 184 Iceland 35 41 Total revenue 4,837 5,802 [1] Iberia refers to Spain, Portugal & Andorra. [2] France refers to continental France & Monaco.

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	6 Months Ended
	Jun. 26, 2020
Property, plant and equipment [abstract]
PROPERTY, PLANT AND EQUIPMENT	PROPERTY, PLANT AND EQUIPMENT The following table summarises the movement in net book value for property, plant and equipment during the six months ended 26 June 2020: Total € million Net book value as at 31 December 2019 4,205 Additions 197 Disposals (14) Depreciation expense (303) Currency translation adjustments (55) Net book value as at 26 June 2020 [1] 4,030

FAIR VALUES AND FINANCIAL RISK

FAIR VALUES AND FINANCIAL RISK MANAGEMENT	6 Months Ended
	Jun. 26, 2020
Fair Value Measurement [Abstract]
FAIR VALUES AND FINANCIAL RISK MANAGEMENT	FAIR VALUES AND FINANCIAL RISK MANAGEMENT Fair Value Measurements All assets and liabilities for which fair value is measured or disclosed in the condensed consolidated interim financial statements are categorised in the fair value hierarchy as described in our 2019 Consolidated Financial Statements. The fair values of the Group’s cash and cash equivalents, trade accounts receivable, amounts receivable from related parties, trade and other payables, and amounts payable to related parties approximate their carrying amounts due to their short-term nature. The fair values of the Group’s borrowings are estimated based on borrowings with similar maturities and credit quality and current market interest rates. These are categorised in Level 2 of the fair value hierarchy as the Group uses certain pricing models and quoted prices for similar liabilities in active markets in assessing their fair values. The total fair value of borrowings as at 26 June 2020 and 31 December 2019, was €7.4 billion and €6.7 billion, respectively. This compared to the carrying value of total borrowings as at 26 June 2020 and 31 December 2019 of €7.1 billion and €6.4 billion, respectively. Refer to Note 7 for further details regarding the Group’s borrowings. The Group’s derivative assets and liabilities are carried at fair value, which is determined using a variety of valuation techniques, depending on the specific characteristics of the hedging instrument taking into account credit risk. The fair value of our derivative contracts (including forwards, options, cross-currency swaps and interest rate swaps) are determined using standard valuation models. The significant inputs used in these models are readily available in public markets or can be derived from observable market transactions and, therefore, the derivative contracts have been classified as Level 2. Inputs used in these standard valuation models include the applicable spot, forward, and discount rates. The standard valuation model for the option contracts also includes implied volatility, which is specific to individual options and is based on rates quoted from a widely used third-party resource. As at 26 June 2020 and 31 December 2019, the total value of derivative assets was €13 million and €15 million, respectively. As at 26 June 2020 and 31 December 2019, the total value of derivative liabilities was €97 million and €41 million, respectively. For assets and liabilities that are recognised in the condensed consolidated interim financial statements on a recurring basis, the Group determines whether transfers have occurred between levels in the hierarchy by re-assessing categorisation at the end of each reporting period. There have been no transfers between Level 1 and Level 2 during the periods presented. Financial Instruments Risk Management Objectives and Policies The Group’s activities expose it to several financial risks including market risk, credit risk, and liquidity risk. Financial risk activities are governed by appropriate policies and procedures to minimise the uncertainties these risks create over the Group’s future cash flows. Such policies are developed and approved by the Group’s Treasury and Commodities Risk Committee through the authority provided to it by the Group’s Board of Directors. There have been no changes in the risk management policies since the year end.

EQUITY

EQUITY	6 Months Ended
	Jun. 26, 2020
Share Capital, Reserves And Other Equity Interest [Abstract]
EQUITY	EQUITY Share Capital As at 26 June 2020, the Company had issued and fully paid 454,163,561 Shares. Shares in issue have one voting right each and no restrictions related to dividends or return of capital. The share capital increased during the six months ended 26 June 2020 from the issue of 828,884 Shares, following the exercise of share-based payment awards. Share buyback programme In connection with the €1 billion share buyback programme announced in February 2020, the Company entered into agreements to purchase its own Shares. 3,065,200 Shares were repurchased by the Company and cancelled. The total cost of the repurchased Shares of €129 million, including €1 million of directly attributable tax costs, was deducted from retained earnings. On 23 March 2020, in response to the COVID-19 pandemic, the Board took the decision to suspend the share buyback programme. No further Shares have been purchased under this programme in the period through to 26 June 2020. Dividends

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 26, 2020
Related Party [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS For the purpose of these condensed consolidated interim financial statements, transactions with related parties mainly comprise transactions between subsidiaries of the Group and the related parties of the Group. Transactions with The Coca-Cola Company (TCCC) TCCC exhibits significant influence over the Group, as defined by IAS 24, “Related Party Disclosures”. As at 26 June 2020, 19.4% of the total outstanding Shares in the Group were owned by European Refreshments, a wholly owned subsidiary of TCCC. The Group is a key bottler of TCCC products and has entered into bottling agreements with TCCC to sell, make and distribute products of TCCC in the Group’s territories. The Group purchases concentrate from TCCC and also receives marketing funding to help promote the sale of TCCC products. Bottling agreements with TCCC for each of the Group’s territories extend through 28 May 2026, with terms of 10 years, with each containing the right for the Group to request a 10-year renewal. Additionally, two of the Group’s 17 Directors were nominated by TCCC, one of whom is also an employee of TCCC. The principal transactions with TCCC are for the purchase of concentrate, syrup and finished product. The following table summarises the transactions with TCCC that directly impacted the Condensed Consolidated Interim Income Statement for the periods presented: Six Months Ended 26 June 2020 28 June 2019 € million € million Amounts affecting revenue [1] 22 31 Amounts affecting cost of sales [2] (1,240) (1,610) Amounts affecting operating expenses [3] (2) (10) Total net amount affecting the Consolidated Income Statement (1,220) (1,589) [1] Amounts principally relate to fountain syrup and packaged product sales. [2] Amounts principally relate to the purchase of concentrate, syrup, mineral water and juice as well as funding for marketing programmes. [3] Amounts principally relate to certain costs associated with new product development initiatives. The following table summarises the transactions with TCCC that impacted the Consolidated Statement of Financial Position as at the dates presented: 26 June 2020 31 December 2019 € million € million Amount due from TCCC 91 103 Amount payable to TCCC 219 233 Transactions with Cobega companies Cobega exhibits significant influence over the Group, as defined by IAS 24, “Related Party Disclosures”. Cobega S.A. indirectly owned 36.6% of the total outstanding Shares of the Group as at 26 June 2020 through its ownership interest in Olive Partners S.A. Additionally, five of the Group’s 17 Directors, including the Chairman, were nominated by Olive Partners S.A., three of whom are affiliated with Cobega S.A. The principal transactions with Cobega are for the purchase of juice concentrate, packaging materials and mineral water. The following table summarises the transactions with Cobega that directly impacted the Condensed Consolidated Interim Income Statement for the periods presented: Six Months Ended 26 June 2020 28 June 2019 € million € million Amounts affecting revenues [1] — 1 Amounts affecting cost of sales [2] (21) (37) Amounts affecting operating expenses [3] (4) (8) Total net amount affecting the Consolidated Income Statement (25) (44) [1] Amounts principally relate to packaged product sales. [2] Amounts principally relate to the purchase of concentrate, mineral water and packaging materials. [3] Amounts principally relate to certain costs associated with maintenance and repair services and rent. The following table summarises the transactions with Cobega that impacted the Consolidated Statement of Financial Position as at the dates presented: 26 June 2020 31 December 2019 € million € million Amount due from Cobega 4 3 Amount payable to Cobega 13 16

TAXES

TAXES	6 Months Ended
	Jun. 26, 2020
Income Tax [Abstract]
TAXES	TAXES The same accounting policies and methods of computation have been used as described in the 2019 Consolidated Financial Statements, with the exception of taxes on income. Taxes on income in interim periods are accrued using the tax rate that would be applicable to the expected total annual profit or loss. The effective tax rate was 40 percent and 25 percent for the six months ended 26 June 2020 and 28 June 2019, respectively, and 25 percent for the years ended 31 December 2019 and 31 December 2018. For the six months ending 26 June 2020, the effective tax rate includes a €37 million impact related to the revaluation of deferred tax assets due to an increase in the UK statutory income tax rate from 17% to 19% that was substantively enacted during the first half of 2020. Tax Provisions The Group is routinely under audit by taxing authorities in the ordinary course of business. Due to their nature, such proceedings and tax matters involve inherent uncertainties including, but not limited to, court rulings, settlements between affected parties and/or governmental actions. The probability of outcome is assessed and accrued as a liability and/or disclosed, as appropriate. The Group maintains provisions for uncertainty relating to tax matters that it believes appropriately reflect its risk. As at 26 June 2020, the carrying value of these provisions is included in Non-current tax liabilities, with the exception of €9 million, which is included in Current tax liabilities. The Group reviews the adequacy of these provisions at the end of each reporting period and adjusts them based on changing facts and circumstances. Due to the uncertainty associated with tax matters, it is possible that at some future date, liabilities resulting from audits or litigation could vary significantly from the Group’s provisions. The Group has received tax assessments in certain jurisdictions for potential tax related to the Group’s purchases of concentrate. The value of the Group’s concentrate purchases is significant, and therefore, the tax assessments are substantial. The Group strongly believes the application of tax has no technical merit based on applicable tax law, and its tax position would be sustained. Accordingly, the Group has not recorded a tax liability for these assessments, and is vigorously defending its position against these assessments.

PROVISIONS, CONTINGENCIES AND C

PROVISIONS, CONTINGENCIES AND COMMITMENTS	6 Months Ended
	Jun. 26, 2020
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract]
PROVISIONS, CONTINGENCIES AND COMMITMENTS	PROVISIONS, COMMITMENTS AND CONTINGENCIES The following table summarises the movement of provisions for the periods presented: Restructuring Provision Other Provisions [1] Total € million € million € million Balance as at 31 December 2019 168 28 196 Charged/(credited) to profit or loss: Additional provisions recognised 90 3 93 Unused amounts reversed (4) — (4) Utilised during the period (56) (1) (57) Translation — (2) (2) Balance as at 26 June 2020 198 28 226 ______________________ [1] Other provisions primarily relate to decommissioning provisions, property tax assessment provisions and legal reserves. In January 2020, we announced proposals in Germany to close five distribution centres during the course of 2020 subject to full consultation with employees and their representatives, and a new commercial restructuring initiative relating to vending operations and sales functions. During the six months ended 26 June 2020, restructuring charges of €78 million were recognised in connection with these proposals, made up of severance costs provisions of €67 million and accelerated depreciation charges of €11 million. Commitments There have been no significant changes in commitments since 31 December 2019. Refer to Note 22 of the 2019 Consolidated Financial Statements for further details about the Group’s commitments. Contingencies There have been no significant changes in contingencies since 31 December 2019. Refer to Note 22 of the 2019 Consolidated Financial Statements for further details about the Group’s contingencies.

EVENTS AFTER THE REPORTING PERI

EVENTS AFTER THE REPORTING PERIOD	6 Months Ended
	Jun. 26, 2020
Events After Reporting Period [Abstract]
EVENTS AFTER THE REPORTING PERIOD	EVENTS AFTER THE REPORTING PERIOD In July 2020, the Group extended the maturity date of the €1.5 billion multi-currency credit facility to 2025, previously maturing in 2024. This credit facility is for general corporate purposes and supporting the Group’s working capital needs. As at 5 August 2020, the Group had no amounts drawn under this credit facility.

GENERAL INFORMATION AND BASIS_2

GENERAL INFORMATION AND BASIS OF PREPARATION (Policies)	6 Months Ended
	Jun. 26, 2020
Corporate Information And Statement of IFRS Compliance [Abstract]
Disclosure of Trading seasonality [Text Block]	Trading seasonality In addition to the impact of the COVID-19 pandemic (refer to Note 1), operating results for the first half of 2020 may not be indicative of the results expected for the year ended 31 December 2020 as sales of the Group’s products are seasonal, with the second and third quarters typically accounting for higher unit sales of the Group’s products than the first and fourth quarters. The seasonality of the Group’s sales volume, combined with the accounting for fixed costs such as depreciation, amortisation, rent and interest expense, impacts the Group’s results for the first half of the year. Additionally, year-over-year shifts in holidays, selling days and weather patterns can impact the Group’s results on an annual or half-yearly basis.
GENERAL INFORMATION AND BASIS OF PREPARATION	GENERAL INFORMATION AND BASIS OF PREPARATION Coca-Cola European Partners plc (the Company or Parent Company) was created through the Merger on 28 May 2016 of the businesses of Coca-Cola Enterprises, Inc. (CCE), Coca-Cola Iberian Partners, S.A. (CCIP) and Coca-Cola Erfrischungsgetränke GmbH (CCEG) (the Merger). The Company and its subsidiaries (together CCEP, or the Group) are a leading consumer goods group in Western Europe making, selling and distributing an extensive range of non-alcoholic ready to drink beverages. The Company has ordinary shares with a nominal value of €0.01 per share (Shares). CCEP is a public company limited by shares, incorporated under the laws of England and Wales with the registered number in England of 09717350. The Group’s Shares are listed and traded on Euronext Amsterdam, the New York Stock Exchange, London Stock Exchange and on the Spanish Stock Exchanges. The address of the Company’s registered office is Pemberton House, Bakers Road, Uxbridge, UB8 1EZ, United Kingdom. These condensed consolidated interim financial statements do not constitute statutory accounts as defined by Section 434 of the Companies Act 2006. They have been reviewed but not audited by the Group’s auditor, unless otherwise stated. The statutory accounts for the Company for the year ended 31 December 2019, which were prepared in accordance with IFRS as issued by the International Accounting Standards Board (IASB), IFRS as adopted by the European Union and in accordance with the provisions of the Companies Act 2006, have been delivered to the Registrar of Companies. The auditor’s opinion on those accounts was unqualified and did not contain a statement made under section 498 (2) or (3) of the Companies Act 2006. Impact of COVID-19 pandemic The COVID-19 pandemic and related response measures have had and may continue to have an adverse effect on global economic conditions, as well as our business, results of operations, cash flows and financial condition. At this time, we cannot predict the degree to which, or the time period over which, our business will continue to be affected by the COVID-19 pandemic and the related response measures. These impacts limit the comparability of these condensed consolidated interim financial statements with prior periods. Additionally, operating results for the first half of 2020 may not be indicative of the results for the year ended 31 December 2020. In addition, as part of the preparation of these condensed consolidated interim financial statements, we have considered the impact of the COVID-19 pandemic on our accounting policies and judgements and estimates. The following is a summary of the key accounting impacts and considerations for the Group: • We have performed an interim impairment review of our goodwill and intangible assets after concluding that the COVID-19 pandemic was a triggering event and potential impairment indicator under IAS 36, “Impairment of Assets.” No impairment charges were recorded as a result of this review. Please refer to Note 4 for further detail. • Due to the widespread closure of outlets in the away from home (AFH) channel, we have assessed our expected credit losses from impacted trade receivables and recorded a corresponding allowance for future losses. In doing so, we have taken into consideration deferred payment terms that we have provided to certain customers to support them throughout the crisis. • Similarly, we have performed an assessment of the net realisable value of inventory within the AFH channel and a corresponding provision has been recorded. This provision principally relates to product write-offs of finished goods inventory including bag in the box, which tends to have a shorter shelf life than other packages. • We have also performed an interim review and revaluation of certain pension schemes and recorded a pension remeasurement adjustment, primarily relating to changes in certain financial assumptions for our GB Scheme. These changes resulted in a €145m increase to the employment benefit liability and a corresponding charge to Other Comprehensive Income. Basis of Preparation and Accounting Policies The condensed consolidated interim financial statements of the Group have been prepared in accordance with the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority and International Accounting Standard 34, “Interim Financial Reporting” (IAS 34) and should be read in conjunction with our 2019 Consolidated Financial Statements. The 2019 Consolidated Financial Statements were prepared in accordance with IFRS as issued by the IASB, IFRS as adopted by the European Union and in accordance with the provisions of the Companies Act 2006. The 2019 Consolidated Financial Statements include a full description of the Group’s accounting policies. The same accounting policies and methods of computation have been used as described in the 2019 Consolidated Financial Statements, with the exception of taxes on income. Taxes on income in interim periods are accrued using the tax rate that would be applicable to expected total annual profit or loss. Several amendments and interpretations apply for the first time in 2020, but do not have a material impact on the condensed consolidated interim financial statements of the Group. Reporting periods Results are presented for the interim period from 1 January 2020 to 26 June 2020. The Group’s financial year ends on 31 December. For half-yearly reporting convenience, the first six month period closes on the Friday closest to the end of the interim calendar period. There was one less selling day in the six months ended 26 June 2020 versus the six months ended 28 June 2019, and there will be two more selling days in the second six months of 2020 versus the second six months of 2019 (based upon a standard five-day selling week). The following table summarises the number of selling days, for the years ended 31 December 2020 and 31 December 2019 (based on a standard five-day selling week): Half year Full year 2020 128 262 2019 129 261 Change -1 1 Trading seasonality In addition to the impact of the COVID-19 pandemic (refer to Note 1), operating results for the first half of 2020 may not be indicative of the results expected for the year ended 31 December 2020 as sales of the Group’s products are seasonal, with the second and third quarters typically accounting for higher unit sales of the Group’s products than the first and fourth quarters. The seasonality of the Group’s sales volume, combined with the accounting for fixed costs such as depreciation, amortisation, rent and interest expense, impacts the Group’s results for the first half of the year. Additionally, year-over-year shifts in holidays, selling days and weather patterns can impact the Group’s results on an annual or half-yearly basis. Exchange rates The Group’s reporting currency is the Euro. CCEP translates the income statements of non-Euro functional currency subsidiary operations to the Euro at average exchange rates and the balance sheets at the closing exchange rate as at the end of the period. The principal exchange rates used for translation purposes in respect of one Euro were: Average for the Six Months Ended Closing as at 26 June 2020 28 June 2019 26 June 2020 31 December 2019 28 June 2019 UK Sterling 1.15 1.14 1.10 1.18 1.12 US Dollar 0.91 0.89 0.89 0.89 0.88 Norwegian Krone 0.09 0.10 0.09 0.10 0.10 Swedish Krone 0.09 0.10 0.10 0.10 0.09 Icelandic Krone 0.01 0.01 0.01 0.01 0.01
Exchange Rates	The Group’s reporting currency is the Euro. CCEP translates the income statements of non-Euro functional currency subsidiary operations to the Euro at average exchange rates and the balance sheets at the closing exchange rate as at the end of the period.
Description Of Accounting Policy For Reporting Periods [Policy Text Block]	Reporting periods Results are presented for the interim period from 1 January 2020 to 26 June 2020. The Group’s financial year ends on 31 December. For half-yearly reporting convenience, the first six month period closes on the Friday closest to the end of the interim calendar period. There was one less selling day in the six months ended 26 June 2020 versus the six months ended 28 June 2019, and there will be two more selling days in the second six months of 2020 versus the second six months of 2019 (based upon a standard five-day selling week).

GENERAL INFORMATION AND BASIS_3

GENERAL INFORMATION AND BASIS OF PREPARATION (Tables)	6 Months Ended
	Jun. 26, 2020
Corporate Information And Statement of IFRS Compliance [Abstract]
Number of selling days by quarter	The following table summarises the number of selling days, for the years ended 31 December 2020 and 31 December 2019 (based on a standard five-day selling week): Half year Full year 2020 128 262 2019 129 261 Change -1 1
Exchange rates	The principal exchange rates used for translation purposes in respect of one Euro were: Average for the Six Months Ended Closing as at 26 June 2020 28 June 2019 26 June 2020 31 December 2019 28 June 2019 UK Sterling 1.15 1.14 1.10 1.18 1.12 US Dollar 0.91 0.89 0.89 0.89 0.88 Norwegian Krone 0.09 0.10 0.09 0.10 0.10 Swedish Krone 0.09 0.10 0.10 0.10 0.09 Icelandic Krone 0.01 0.01 0.01 0.01 0.01

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 26, 2020
Earnings per share [abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE Basic earnings per share is calculated by dividing profit after taxes by the weighted average number of Shares in issue and outstanding during the period. Diluted earnings per share is calculated in a similar manner, but includes the effect of dilutive securities, principally share options, restricted stock units and performance share units. Share-based payment awards that are contingently issuable upon the achievement of specified market and/or performance conditions are included in the diluted earnings per share calculation based on the number of Shares that would be issuable if the end of the period was the end of the contingency period. The following table summarises basic and diluted earnings per share calculations for the periods presented: Six Months Ended 26 June 2020 28 June 2019 Profit after taxes attributable to equity shareholders (€ million) 126 508 Basic weighted average number of Shares in issue [1] (million) 455 472 Effect of dilutive potential Shares [2] (million) 2 3 Diluted weighted average number of Shares in issue [1] (million) 457 475 Basic earnings per share (€) 0.28 1.08 Diluted earnings per share (€) 0.28 1.07 [1] As at 26 June 2020 and 28 June 2019, the Group had 454,163,561 and 466,671,427 Shares, respectively, in issue and outstanding. [2] For the six months ended 26 June 2020 and 28 June 2019, there were no outstanding options to purchase Shares excluded from the diluted earnings per share calculation. The dilutive impact of the remaining options outstanding, unvested restricted stock units and unvested performance share units was included in the effect of dilutive securities.
Earnings per share [text block]	The following table summarises basic and diluted earnings per share calculations for the periods presented: Six Months Ended 26 June 2020 28 June 2019 Profit after taxes attributable to equity shareholders (€ million) 126 508 Basic weighted average number of Shares in issue [1] (million) 455 472 Effect of dilutive potential Shares [2] (million) 2 3 Diluted weighted average number of Shares in issue [1] (million) 457 475 Basic earnings per share (€) 0.28 1.08 Diluted earnings per share (€) 0.28 1.07

OPERATING SEGMENT (Tables)

OPERATING SEGMENT (Tables)	6 Months Ended
	Jun. 26, 2020
Operating Segments [Abstract]
Disclosure of operating segments	Six Months Ended 26 June 2020 28 June 2019 Revenue: € million € million Great Britain 1,026 1,151 Germany 1,014 1,171 Iberia [1] 917 1,282 France [2] 808 967 Belgium/Luxembourg 426 493 Netherlands 250 295 Norway 199 218 Sweden 162 184 Iceland 35 41 Total revenue 4,837 5,802 [1] Iberia refers to Spain, Portugal & Andorra. [2] France refers to continental France & Monaco.

INTANGIBLE ASSETS AND GOODWILL

INTANGIBLE ASSETS AND GOODWILL (Tables)	6 Months Ended
	Jun. 26, 2020
Intangible Assets [Abstract]
Summary of carrying amounts of intangible assets and goodwill	The following table summarises the movement in net book value for intangible assets and goodwill during the six months ended 26 June 2020: Intangible assets Goodwill € million € million Net book value as at 31 December 2019 8,506 2,520 Additions 33 — Amortisation expense (29) — Currency translation adjustments (115) (6) Net book value as at 26 June 2020 8,395 2,514

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	6 Months Ended
	Jun. 26, 2020
Disclosure of detailed information about property, plant and equipment [line items]
Disclosure of detailed information about property, plant and equipment	The following table summarises the movement in net book value for property, plant and equipment during the six months ended 26 June 2020: Total € million Net book value as at 31 December 2019 4,205 Additions 197 Disposals (14) Depreciation expense (303) Currency translation adjustments (55) Net book value as at 26 June 2020 [1] 4,030

BORROWINGS AND LEASES (Tables)

BORROWINGS AND LEASES (Tables)	6 Months Ended
	Jun. 26, 2020
Financial Instruments [Abstract]
Disclosure of borrowings	Note 7 BORROWINGS AND LEASES Borrowings Outstanding The following table summarises the Group’s borrowings as at the dates presented: 26 June 2020 31 December 2019 € million € million Non-current: US$250 million 3.25% Notes 2021 [1] 171 221 US$300 million 4.50% Notes 2021 [1] 221 266 €350 million Floating Rate Note 2021 350 350 €700 million 0.75% Notes 2022 699 698 €350 million 2.63% Notes 2023 348 348 €500 million 1.13% Notes 2024 497 496 €350 million 2.38% Notes 2025 347 347 €250 million 2.75% Notes 2026 248 248 €600 million 1.75% Notes 2026 [2] 592 — €650 million 1.50% Notes 2027 [3] 660 396 €500 million 1.75% Notes 2028 494 493 €500 million 1.13% Notes 2029 493 493 €500 million 1.88% Notes 2030 496 495 €500 million 0.70% Notes 2031 495 495 Lease obligations 232 276 Total non-current borrowings 6,343 5,622 Current: US$525 million 3.50% Notes 2020 [1] 338 467 EUR commercial paper 315 221 Lease obligations 109 111 Total current borrowings 762 799 ___________________________ [1] In February 2020, the Group repaid prior to maturity US$255 million of outstanding US$1,075 million borrowings. [2] In March 2020, the Group issued €600 million, 1.75% notes due 2026.

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	6 Months Ended
	Jun. 26, 2020
Related Party [Abstract]
Disclosure of transactions between related parties	The following table summarises the transactions with TCCC that directly impacted the Condensed Consolidated Interim Income Statement for the periods presented: Six Months Ended 26 June 2020 28 June 2019 € million € million Amounts affecting revenue [1] 22 31 Amounts affecting cost of sales [2] (1,240) (1,610) Amounts affecting operating expenses [3] (2) (10) Total net amount affecting the Consolidated Income Statement (1,220) (1,589) [1] Amounts principally relate to fountain syrup and packaged product sales. [2] Amounts principally relate to the purchase of concentrate, syrup, mineral water and juice as well as funding for marketing programmes. [3] Amounts principally relate to certain costs associated with new product development initiatives. The following table summarises the transactions with TCCC that impacted the Consolidated Statement of Financial Position as at the dates presented: 26 June 2020 31 December 2019 € million € million Amount due from TCCC 91 103 Amount payable to TCCC 219 233 Six Months Ended 26 June 2020 28 June 2019 € million € million Amounts affecting revenues [1] — 1 Amounts affecting cost of sales [2] (21) (37) Amounts affecting operating expenses [3] (4) (8) Total net amount affecting the Consolidated Income Statement (25) (44) [1] Amounts principally relate to packaged product sales. [2] Amounts principally relate to the purchase of concentrate, mineral water and packaging materials. [3] Amounts principally relate to certain costs associated with maintenance and repair services and rent. The following table summarises the transactions with Cobega that impacted the Consolidated Statement of Financial Position as at the dates presented: 26 June 2020 31 December 2019 € million € million Amount due from Cobega 4 3 Amount payable to Cobega 13 16

PROVISIONS, CONTINGENCIES AND_2

PROVISIONS, CONTINGENCIES AND COMMITMENTS (Tables)	6 Months Ended
	Jun. 26, 2020
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract]
Disclosure of provisions	The following table summarises the movement of provisions for the periods presented: Restructuring Provision Other Provisions [1] Total € million € million € million Balance as at 31 December 2019 168 28 196 Charged/(credited) to profit or loss: Additional provisions recognised 90 3 93 Unused amounts reversed (4) — (4) Utilised during the period (56) (1) (57) Translation — (2) (2) Balance as at 26 June 2020 198 28 226 ______________________ [1] Other provisions primarily relate to decommissioning provisions, property tax assessment provisions and legal reserves.

GENERAL INFORMATION AND BASIS_4

GENERAL INFORMATION AND BASIS OF PREPARATION (Details) € in Millions	6 Months Ended
	Jun. 26, 2020EUR (€)
Disclosure of pension scheme assets revaluation [Table]
Increase (decrease) in net defined benefit liability (asset)	€ 145

EARNINGS PER SHARE - Summary of

EARNINGS PER SHARE - Summary of Basic and Diluted Earnings Per Ordinary Share (Details) - EUR (€) € / shares in Units, € in Millions	6 Months Ended
	Jun. 26, 2020	Jun. 28, 2019
Earnings per share [abstract]
Profit after taxes attributable to equity shareholders (€ million)	€ 126	€ 508
Basic weighted average number of ordinary shares in issue (million) (in shares)	455,000,000	472,000,000
Effect of dilutive potential ordinary shares (million) (in shares)	2,000,000	3,000,000
Diluted weighted average number of ordinary shares in issue (million) (in shares)	457,000,000	475,000,000
Basic earnings per share (in EUR per share)	€ 0.28	€ 1.08
Diluted earnings per share (in EUR per share)	€ 0.28	€ 1.07
Number of shares issued (in shares)	454,163,561	466,671,427
Antidilutive options excluded from diluted earnings per share share (in shares)	0

OPERATING SEGMENT - Disaggregat

OPERATING SEGMENT - Disaggregation of Revenues From Contracts with Customers (Details) € in Millions	6 Months Ended
	Jun. 26, 2020EUR (€)segment	Jun. 28, 2019EUR (€)
Disclosure of disaggregation of revenue from contracts with customers [line items]
Number of operating segments | segment	1
Total revenue	€ 4,837	€ 5,802
Iberia[1]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total revenue	917	1,282
Germany
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total revenue	1,014	1,171
Great Britain
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total revenue	1,026	1,151
France[2]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total revenue	808	967
Belgium/Luxembourg
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total revenue	426	493
Netherlands
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total revenue	250	295
Norway
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total revenue	199	218
Sweden
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total revenue	162	184
Iceland
Disclosure of disaggregation of revenue from contracts with customers [line items]
Total revenue	€ 35	€ 41

INTANGIBLE ASSETS AND GOODWIL_2

INTANGIBLE ASSETS AND GOODWILL - Summary of the Carrying Amounts of Intangible Assets and Goodwill (Details) € in Millions	6 Months Ended
	Jun. 26, 2020EUR (€)
Iberian Cash-generating unit [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Percent By Which Value Assigned To Discount Rate Must Change In Order To Result In An Impairment	1.00%
Percent By Which Value Assigned To Terminal Growth Rate Must Change In Order To Result In An Impairment	(1.20%)
German Cash-generating unit [Member]
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Percent By Which Value Assigned To Discount Rate Must Change In Order To Result In An Impairment	1.50%
Percent By Which Value Assigned To Terminal Growth Rate Must Change In Order To Result In An Impairment	(2.00%)
Intangible assets
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance at beginning of period	€ 8,506
Additions	33
Amortisation expense	(29)
Currency translation adjustments	(115)
Balance at end of period	8,395
Goodwill
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance at beginning of period	2,520
Additions	0
Amortisation expense	0
Currency translation adjustments	(6)
Balance at end of period	€ 2,514

PROPERTY, PLANT AND EQUIPMENT -

PROPERTY, PLANT AND EQUIPMENT - Summary of Movement (Details) € in Millions	6 Months Ended
	Jun. 26, 2020EUR (€)
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment beginning of period	€ 4,205
Additions	197
Disposals	14
Depreciation expense	(303)
Currency translation adjustments	(55)
Property, plant and equipment end of period	4,030
Restructuring charge	€ 78

FAIR VALUES AND FINANCIAL RIS_2

FAIR VALUES AND FINANCIAL RISK MANAGEMENT - Narrative (Details) - EUR (€) € in Millions	Jun. 26, 2020	Dec. 31, 2019	Jun. 28, 2019
Derivative Liability [Member] | Level 2 | Recurring
Disclosure of fair value measurement of assets [line items]
Liabilities	€ 97	€ 41
Borrowings	7,100	6,400
Total assets	19,063	18,685	€ 19,090
Liabilities	13,231	12,529	€ 12,755
Level 2 | Fair value
Disclosure of fair value measurement of assets [line items]
Borrowings	7,400	6,700
Derivative Asset [Member] | Level 2 | Recurring
Disclosure of fair value measurement of assets [line items]
Total assets	€ 13	€ 15

BORROWINGS AND LEASES - Disclos

BORROWINGS AND LEASES - Disclosure of Carrying Value of Borrowings (Details)	1 Months Ended	6 Months Ended
	Feb. 29, 2020USD ($)	Jun. 26, 2020EUR (€)	Jun. 28, 2019EUR (€)	Jun. 30, 2020EUR (€)	Jun. 26, 2020USD ($)	Jun. 26, 2020EUR (€)	Dec. 31, 2019EUR (€)	Nov. 30, 2018EUR (€)
Disclosure of detailed information about borrowings [line items]
Borrowings, less current portion			€ 5,676,000,000			€ 6,343,000,000	€ 5,622,000,000
Current portion of borrowings			620,000,000			762,000,000	799,000,000
Repayments on third party borrowings		€ (227,000,000)	(175,000,000)
Borrowings						7,100,000,000	6,400,000,000
Proceeds from non-current borrowings		855,000,000	€ 492,000,000
US$250 million 3.25% Notes 2021[1]
Disclosure of detailed information about borrowings [line items]
Borrowings, less current portion						€ 171,000,000	221,000,000
Notional amount | $					$ 250,000,000
Borrowings, interest rate					3.25%	3.25%
US$300 million 4.50% Notes 2021[1]
Disclosure of detailed information about borrowings [line items]
Borrowings, less current portion						€ 221,000,000	266,000,000
Notional amount | $					$ 300,000,000
Borrowings, interest rate					4.50%	4.50%
€350 million Floating Rate Note 2021
Disclosure of detailed information about borrowings [line items]
Borrowings, less current portion						€ 350,000,000	350,000,000
Notional amount | $					$ 350,000,000
€700 million 0.75% Notes 2022
Disclosure of detailed information about borrowings [line items]
Borrowings, less current portion						699,000,000	698,000,000
Notional amount						€ 700,000,000
Borrowings, interest rate					0.75%	0.75%
€350 million 2.63% Notes 2023
Disclosure of detailed information about borrowings [line items]
Borrowings, less current portion						€ 348,000,000	348,000,000
Notional amount						€ 350,000,000
Borrowings, interest rate					2.63%	2.63%
€500 million 1.13% Notes 2024
Disclosure of detailed information about borrowings [line items]
Borrowings, less current portion						€ 497,000,000	496,000,000
Notional amount						€ 500,000,000
Borrowings, interest rate					1.13%	1.13%
€350 million 2.38% Notes 2025
Disclosure of detailed information about borrowings [line items]
Borrowings, less current portion						€ 347,000,000	347,000,000
Notional amount						€ 350,000,000
Borrowings, interest rate					2.38%	2.38%
€250 million 2.75% Notes 2026
Disclosure of detailed information about borrowings [line items]
Borrowings, less current portion						€ 248,000,000	248,000,000
Notional amount						€ 250,000,000
Borrowings, interest rate					2.75%	2.75%
€650 million 1.50% Notes 2027[3]
Disclosure of detailed information about borrowings [line items]
Borrowings, less current portion						€ 660,000,000	396,000,000
Notional amount						€ 650,000,000
Borrowings, interest rate					1.50%	1.50%
€500 million 1.75% Notes 2028
Disclosure of detailed information about borrowings [line items]
Borrowings, less current portion						€ 494,000,000	493,000,000
Notional amount						€ 500,000,000
Borrowings, interest rate					1.75%	1.75%
€500 million 1.125% Notes 2029
Disclosure of detailed information about borrowings [line items]
Borrowings, less current portion						€ 493,000,000	493,000,000
Notional amount						€ 500,000,000
Borrowings, interest rate					1.13%	1.13%
€500 million 1.88% Notes 2030
Disclosure of detailed information about borrowings [line items]
Borrowings, less current portion						€ 496,000,000	495,000,000
Notional amount						€ 500,000,000
Borrowings, interest rate					1.88%	1.88%
Lease obligations
Disclosure of detailed information about borrowings [line items]
Borrowings, less current portion						€ 232,000,000
Lease obligations
Disclosure of detailed information about borrowings [line items]
Borrowings, less current portion							276,000,000
EUR commercial paper
Disclosure of detailed information about borrowings [line items]
Current portion of borrowings						315,000,000	221,000,000
Lease obligations
Disclosure of detailed information about borrowings [line items]
Current portion of borrowings						109,000,000
Lease obligations
Disclosure of detailed information about borrowings [line items]
Current portion of borrowings							111,000,000
One Point Seven Five Percent Notes Due 2026
Disclosure of detailed information about borrowings [line items]
Notional amount						€ 600,000,000
Borrowings, interest rate					1.75%	1.75%
Zero Point Seven Percent Notes Due 2031
Disclosure of detailed information about borrowings [line items]
Notional amount						€ 500,000,000
Borrowings, interest rate					0.70%	0.70%
Point Seven Percent Notes 2030
Disclosure of detailed information about borrowings [line items]
Borrowings, less current portion						€ 495,000,000	495,000,000
One Point Seven Five Percent Notes 2026
Disclosure of detailed information about borrowings [line items]
Borrowings, less current portion						592,000,000	0
One Thousand Seventy Five Million USD Borrowings [Member]
Disclosure of detailed information about borrowings [line items]
Repayments on third party borrowings | $	$ (255,000,000)
Borrowings | $	$ 1,075,000,000
Two Hundred And Fifty Million Euro Notes [Member]
Disclosure of detailed information about borrowings [line items]
Notional amount				€ 250,000,000
Proceeds from non-current borrowings		€ 264,000,000
467000000
Disclosure of detailed information about borrowings [line items]
Notional amount								€ 400,000,000
Three Point Five Percent Notes Due 2020 [Member]
Disclosure of detailed information about borrowings [line items]
Current portion of borrowings						338,000,000	€ 467,000,000
Notional amount						€ 525,000,000
Borrowings, interest rate					3.50%	3.50%

EQUITY - Narrative (Details)

EQUITY - Narrative (Details) € / shares in Units, € in Millions	6 Months Ended		12 Months Ended
	Jun. 26, 2020EUR (€)sharesvote€ / shares	Jun. 28, 2019EUR (€)shares	Dec. 31, 2019€ / shares	Feb. 29, 2020EUR (€)
Disclosure of classes of share capital [line items]
Number of shares issued (in shares) | shares	454,163,561	466,671,427
Dividend rate (in euros per share) | € / shares	€ 0		€ 0.62
Own shares purchased under share buyback programme	€ 129	€ 457
Stock Repurchase Program Authorized Amount				€ 1,000
Ordinary shares
Disclosure of classes of share capital [line items]
Number of shares issued (in shares) | shares	828,884
Par value per share (in dollars/euros per share) | € / shares	€ 0.01
Number of votes per share in issue | vote	1
Share capital
Disclosure of classes of share capital [line items]
Number of shares cancelled (in shares) | shares	(3,065,200)
Retained earnings
Disclosure of classes of share capital [line items]
Own shares purchased under share buyback programme	€ 129	€ 457
Agreement to purchase shares under share buyback programs, tax	€ (1)

EQUITY Rollforward of Shares an

EQUITY Rollforward of Shares and Share Capital (Details) (Details)	6 Months Ended
	Jun. 26, 2020shares
Share capital
Disclosure of classes of share capital [line items]
Number of shares cancelled (in shares)	(3,065,200)

RELATED PARTY TRANSACTIONS - Na

RELATED PARTY TRANSACTIONS - Narrative (Details)	6 Months Ended
	Jun. 26, 2020director
Disclosure of transactions between related parties [line items]
Number of members of board of directors	17
TCCC | Entities with joint control or significant influence over entity
Disclosure of transactions between related parties [line items]
Percentage ownership	19.40%
Number of members of board of directors	2
Cobega Companies | Entities with joint control or significant influence over entity
Disclosure of transactions between related parties [line items]
Percentage ownership	36.60%
Number of members of board of directors	5
Franchise intangible | TCCC | Entities with joint control or significant influence over entity
Disclosure of transactions between related parties [line items]
Agreement term	10 years
Renewal term	10 years

RELATED PARTY TRANSACTIONS - Tr

RELATED PARTY TRANSACTIONS - Transactions with TCCC (Details) - TCCC - Entities with joint control or significant influence over entity - EUR (€) € in Millions	6 Months Ended
	Jun. 26, 2020	Jun. 28, 2019	Dec. 31, 2019
Disclosure of transactions between related parties [line items]
Amounts affecting revenue[1]	€ 22	€ 31
Amounts affecting cost of sales[2]	(1,240)	(1,610)
Amounts affecting operating expenses[3]	(2)	(10)
Total net amount affecting the Consolidated Income Statement	(1,220)	€ (1,589)
Amount due from	91		€ 103
Amounts payable	€ 219		€ 233

RELATED PARTY TRANSACTIONS - _2

RELATED PARTY TRANSACTIONS - Transactions with Cobega Companies (Details) - Cobega Companies - Entities with joint control or significant influence over entity - EUR (€) € in Millions	6 Months Ended
	Jun. 26, 2020	Jun. 28, 2019	Dec. 31, 2019
Disclosure of transactions between related parties [line items]
Amounts affecting revenue[1]	€ 0	€ 1
Amounts affecting cost of sales[2]	(21)	(37)
Amounts affecting operating expenses[3]	(4)	(8)
Total net amount affecting the Consolidated Income Statement	(25)	€ (44)
Amount due from	4		€ 3
Amounts payable	€ 13		€ 16

TAXES - Narrative (Details)

TAXES - Narrative (Details) - EUR (€) € in Millions	6 Months Ended		12 Months Ended
	Jun. 26, 2020	Jun. 28, 2019	Dec. 31, 2019
Income Tax [Abstract]
Effective tax rate	40.00%	25.00%	25.00%
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Deferred tax expense (income) relating to tax rate changes or imposition of new taxes	€ 37
Non-current tax liabilities	261	€ 228	€ 254
Current Tax Liabilities, Audit Provision	9
Current Tax Liabilities, Audit Provision	€ 9

PROVISIONS, CONTINGENCIES AND_3

PROVISIONS, CONTINGENCIES AND COMMITMENTS - Disclosure of Provisions (Details) € in Millions	6 Months Ended
	Jun. 26, 2020EUR (€)
Reconciliation of changes in other provisions [abstract]
Beginning balance	€ 196
Additional provisions recognised	93
Unused amounts reversed	(4)
Utilised during the period	(57)
Increase (decrease) through net exchange differences, other provisions	(2)
Ending balance	226
Restructuring charge	78
Severance cost provisions expense	67
Accelerated depreciation expense	11
Restructuring Provision
Reconciliation of changes in other provisions [abstract]
Beginning balance	168
Additional provisions recognised	90
Unused amounts reversed	(4)
Utilised during the period	(56)
Increase (decrease) through net exchange differences, other provisions	0
Ending balance	198
Other Provisions
Reconciliation of changes in other provisions [abstract]
Beginning balance	28
Additional provisions recognised	3
Unused amounts reversed	0
Utilised during the period	(1)
Increase (decrease) through net exchange differences, other provisions	(2)
Ending balance	€ 28

EVENTS AFTER THE REPORTING PE_2

EVENTS AFTER THE REPORTING PERIOD (Details) - EUR (€) € in Billions	Jul. 31, 2020	Jun. 26, 2020	Dec. 31, 2019
Disclosure of non-adjusting events after reporting period [line items]
Borrowings		€ 7.1	€ 6.4
1.5 billion, multi currency credit facility, due 2025
Disclosure of non-adjusting events after reporting period [line items]
Notional amount	€ 1.5
Borrowings		€ 0