Coca-Cola Europacific Partners (CCEP) 20-F 15 Mar 24 2023 FY Annual report (foreign) Financial data

Cover

Cover	12 Months Ended
	Dec. 31, 2023 shares
Document Information [Line Items]
Document type	20-F
Document registration statement	false
Document annual report	true
Document period end date	Dec. 31, 2023
Current fiscal year end date	--12-31
Document transition report	false
Document shell company report	false
Entity file number	1-37791
Entity registrant name	COCA-COLA EUROPACIFIC PARTNERS PLC
Entity incorporation, state or country code	X0
Entity address, address line one	Pemberton House, Bakers Road
Entity address, city or town	Uxbridge
Entity address, postal zip code	UB8 1EZ
Entity address, country	GB
Title of 12(b) security	Ordinary Shares,nominal value €0.01 each
Trading Symbol	CCEP
Security exchange name	NASDAQ
Entity common stock, shares outstanding (in shares)	459,200,818
Entity well-known seasoned issuer	Yes
Entity voluntary filers	No
Entity current reporting status	Yes
Entity interactive data current	Yes
Entity filer category	Large Accelerated Filer
Entity emerging growth company	false
ICFR auditor attestation flag	true
Document Financial Statement Error Correction [Flag]	false
Document accounting standard	International Financial Reporting Standards
Entity shell company	false
Entity central index key	0001650107
Amendment flag	false
Document fiscal year focus	2023
Document fiscal period focus	FY
Business Contact
Document Information [Line Items]
Entity address, address line one	Pemberton House, Bakers Road
Entity address, city or town	Uxbridge
Entity address, postal zip code	UB8 1EZ
Entity address, country	GB
Contact personnel name	Clare Wardle
City area code	44
Local phone number	(0)1895 231 313
Contact personnel email address	secretariat@ccep.com

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
Audit Information [Abstract]
Auditor name	Ernst & Young LLP
Auditor location	London, United Kingdom
Auditor firm ID	1438

CONSOLIDATED INCOME STATEMENT

CONSOLIDATED INCOME STATEMENT - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Profit or loss [abstract]
Revenue	€ 18,302	€ 17,320	€ 13,763
Cost of sales	(11,582)	(11,096)	(8,677)
Gross profit	6,720	6,224	5,086
Selling and distribution expenses	(3,178)	(2,984)	(2,496)
Administrative expenses	(1,310)	(1,250)	(1,074)
Other income	107	96	0
Operating profit	2,339	2,086	1,516
Finance income	65	67	43
Finance costs	(185)	(181)	(172)
Total finance costs, net	(120)	(114)	(129)
Non-operating items	(16)	(15)	(5)
Profit before taxes	2,203	1,957	1,382
Taxes	(534)	(436)	(394)
Profit after taxes	1,669	1,521	988
Profit attributable to shareholders	1,669	1,508	982
Profit attributable to non-controlling interests	€ 0	€ 13	€ 6
Basic earnings per share (in EUR per share)	€ 3.64	€ 3.30	€ 2.15
Diluted earnings per share (in EUR per share)	€ 3.63	€ 3.29	€ 2.15

CONSOLIDATED STATEMENT OF COMPR

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of comprehensive income [abstract]
Profit after taxes	€ 1,669	€ 1,521	€ 988
Foreign currency translations:
Pre-tax activity, net	(246)	(205)	260
Tax effect	0	0	0
Foreign currency translation, net of tax	(246)	(205)	260
Cash flow hedges:
Pre-tax activity, net	21	(64)	277
Tax effect	(11)	17	(63)
Cash flow hedges, net of tax	10	(47)	214
Other reserves:
Pre-tax activity, net	3	(9)	7
Tax effect	0	3	(1)
Other reserves, net of tax	3	(6)	6
Items that may be subsequently reclassified to the income statement	(233)	(258)	480
Pension plan remeasurements:
Pre-tax activity, net	(108)	(45)	301
Tax effect	35	11	(63)
Pension plan remeasurements, net of tax	(73)	(34)	238
Items that will not be subsequently reclassified to the income statement	(73)	(34)	238
Other comprehensive (loss)/income for the period, net of tax	(306)	(292)	718
Comprehensive income for the period	1,363	1,229	1,706
Comprehensive income attributable to shareholders	1,363	1,202	1,684
Comprehensive income attributable to non-controlling interests	€ 0	€ 27	€ 22

CONSOLIDATED STATEMENT OF FINAN

CONSOLIDATED STATEMENT OF FINANCIAL POSITION - EUR (€) € in Millions	Dec. 31, 2023	Dec. 31, 2022
Non-current:
Intangible assets	€ 12,395	€ 12,505
Goodwill	4,514	4,600
Property, plant and equipment	5,344	5,201
Non-current derivative assets	100	191
Deferred tax assets	1	21
Other non-current assets	295	252
Total non-current assets	22,649	22,770
Current:
Current derivative assets	161	257
Current tax assets	58	85
Inventories	1,356	1,380
Amounts receivable from related parties	123	139
Trade accounts receivable	2,547	2,466
Other current assets	351	479
Assets held for sale	22	94
Short-term investments	568	256
Cash and cash equivalents	1,419	1,387
Total current assets	6,605	6,543
Total assets	29,254	29,313
Non-current:
Borrowings, less current portion	10,096	10,571
Employee benefit liabilities	191	108
Non-current provisions	45	55
Non-current derivative liabilities	169	187
Deferred tax liabilities	3,378	3,513
Non-current tax liabilities	75	82
Other non-current liabilities	46	37
Total non-current liabilities	14,000	14,553
Current:
Current portion of borrowings	1,300	1,336
Current portion of employee benefit liabilities	8	8
Current provisions	114	115
Current derivative liabilities	99	76
Current tax liabilities	253	241
Amounts payable to related parties	270	485
Trade and other payables	5,234	5,052
Total current liabilities	7,278	7,313
Total liabilities	21,278	21,866
EQUITY
Share capital	5	5
Share premium	276	234
Merger reserves	287	287
Other reserves	(823)	(507)
Retained earnings	8,231	7,428
Equity attributable to shareholders	7,976	7,447
Non-controlling interest	0	0
Total equity	7,976	7,447
Total equity and liabilities	€ 29,254	€ 29,313

CONSOLIDATED STATEMENT OF CASH

CONSOLIDATED STATEMENT OF CASH FLOWS - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Profit before taxes	€ 2,203	€ 1,957	€ 1,382
Adjustments to reconcile profit before tax to net cash flows from operating activities:
Depreciation	653	715	693
Amortisation of intangible assets	139	101	89
Share-based payment expense	57	33	16
Gain on sale of sub-strata and associated mineral rights	(35)	0	0
Gain on the sale of property	(54)	0	0
Finance costs, net	120	114	129
Income taxes paid	(509)	(415)	(306)
Changes in assets and liabilities:
Increase in trade and other receivables	(5)	(282)	(242)
Decrease/(increase) in inventories	6	(244)	(1)
Increase in trade and other payables	124	885	507
Increase/(decrease) in net payable receivable from related parties	80	(15)	8
(Decrease)/increase in provisions	(11)	37	(116)
Change in other operating assets and liabilities	38	46	(42)
Net cash flows from operating activities	2,806	2,932	2,117
Cash flows from investing activities:
Acquisition of bottling operations, net of cash acquired	0	0	(5,401)
Purchases of property, plant and equipment	(672)	(500)	(349)
Purchases of capitalised software	(140)	(103)	(97)
Proceeds from sales of property, plant and equipment	101	11	25
Proceeds from sales of intangible assets	37	143	0
Proceeds from the sale of sub-strata and associated mineral rights	35	0	0
Net (payments)/proceeds of short-term investments	(342)	(207)	198
Investments in equity instruments	(5)	(2)	(4)
Proceeds from sale of equity instruments	0	13	25
Interest received	58	0	0
Other investing activity, net	(9)	0	(2)
Net cash flows used in investing activities	(937)	(645)	(5,605)
Cash flows from financing activities:
Proceeds from borrowings, net	694	0	4,877
Changes in short-term borrowings	0	(285)	276
Repayments on third party borrowings	(1,159)	(938)	(950)
Settlement of debt-related cross currency swaps	69	0	0
Payments of principal on lease obligations	(148)	(153)	(139)
Interest paid	(182)	(130)	(97)
Dividends paid	(841)	(763)	(638)
Exercise of employee share options	43	13	28
Transactions with non-controlling interests	0	0	(73)
Acquisition of non-controlling interest	(282)	0	0
Other financing activities	(16)	(20)	5
Net cash flows (used in)/from financing activities	(1,822)	(2,276)	3,289
Net change in cash and cash equivalents	47	11	(199)
Net effect of currency exchange rate changes on cash and cash equivalents	(15)	(31)	83
Cash and cash equivalents at beginning of period	1,387	1,407	1,523
Cash and cash equivalents at end of period	€ 1,419	€ 1,387	€ 1,407

CONSOLIDATED STATEMENT OF CHANG

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - EUR (€) € in Millions	Total	Total	Share capital	Share premium	Merger reserves	Other reserves	Retained earnings	Non-controlling interest
Beginning balance at Dec. 31, 2020	€ 6,025	€ 6,025	€ 5	€ 192	€ 287	€ (537)	€ 6,078	€ 0
Profit after taxes	988	982					982	6
Other comprehensive loss	718	702				465	237	16
Total comprehensive income/(loss)	1,706	1,684				465	1,219	22
Acquisition of non-controlling interests	228							228
Transactions with non-controlling interests	(73)							(73)
Cash flow hedge gains transferred to goodwill relating to business combination	(84)	(84)				(84)
Issue of shares during the year	28	28		28
Equity-settled share-based payment expense	16	16					16
Share-based payment tax effects	3	3					3
Dividends	(639)	(639)					(639)
Closing balance at Dec. 31, 2021	7,210	7,033	5	220	287	(156)	6,677	177
Profit after taxes	1,521	1,508					1,508	13
Other comprehensive loss	(292)	(306)				(272)	(34)	14
Total comprehensive income/(loss)	1,229	1,202				(272)	1,474	27
Acquisition of non-controlling interests	(283)	(79)				(79)		(204)
Issue of shares during the year	14	14		14
Equity-settled share-based payment expense	33	33					33
Share-based payment tax effects	10	10					10
Dividends	(766)	(766)					(766)
Closing balance at Dec. 31, 2022	7,447	7,447	5	234	287	(507)	7,428	0
Profit after taxes	1,669	1,669					1,669
Other comprehensive loss	(306)	(306)				(233)	(73)
Total comprehensive income/(loss)	1,363	1,363				(233)	1,596	0
Cash flow hedge (gains)/losses transferred to cost of inventories	(114)	(114)				(114)
Tax effect on cash flow hedge (gains)/losses transferred to cost of inventories	31	31				31
Issue of shares during the year	42	42		42
Equity-settled share-based payment expense	54	54					54
Purchases of shares for equity settled Employee Share Purchase Plan	(4)	(4)					(4)
Share-based payment tax effects	1	1					1
Dividends	(844)	(844)					(844)
Closing balance at Dec. 31, 2023	€ 7,976	€ 7,976	€ 5	€ 276	€ 287	€ (823)	€ 8,231	€ 0

General information and basis o

General information and basis of preparation	12 Months Ended
	Dec. 31, 2023
Corporate information and statement of IFRS compliance [abstract]
General information and basis of preparation	General information and basis of preparation Coca-Cola Europacific Partners plc (the Company) and its subsidiaries (together CCEP, or the Group) are a leading consumer goods group in Western Europe and the Asia Pacific region, making, selling and distributing an extensive range of primarily 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 9717350. The Group’s Shares are listed and traded on Euronext Amsterdam, the NASDAQ Global Select Market, 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. The consolidated financial statements of the Group for the year ended 31 December 2023 were approved and signed by Damian Gammell, Chief Executive Officer, on 15 March 2024 having been duly authorised to do so by the Board of Directors. Impact of climate change As part of the preparation of these consolidated financial statements, the Group has considered the impact of climate change risks on the current valuation of the Group’s assets and liabilities, particularly in the context of the risks and scenarios identified in the Task Force on Climate-related Financial Disclosures (TCFD) on pages 48-60 of the Strategic Report. There has been no material impact on the financial reporting judgements and estimates arising from the considerations of the Group and, as a result, the valuation of the Group’s assets and liabilities as of 31 December 2023 have not been affected. The Group’s considerations were specifically focused on the impact of climate change risks on the projected cash flows used in the impairment assessment of our indefinite lived intangible assets and goodwill (refer to Note 6) as well as the carrying value and useful economic lives of property, plant and equipment (refer to Note 7). As the pace and effectiveness of a global transition to a low-carbon economy evolve, including the development of government policies aiming to address the risks arising from climate change, the Group will continue to monitor and assess the relevant implications on the valuation of the Group’s assets and liabilities that could arise in future years. Basis of preparation These consolidated financial statements of the Group reflect the following: • They have been prepared in accordance with UK adopted International Accounting Standards, International Financial Reporting Standards (IFRS) as adopted by the European Union and International Financial Reporting Standards as issued by the International Accounting Standards Board (IASB). • They have been prepared under the historical cost convention, except for certain items measured at fair value. Those accounting policies have been applied consistently in all periods, except for the adoption of new standards and amendments as of 1 January 2023, as described below under accounting policies. • They are presented in euros, which is also the Parent Company’s functional currency, and all values are rounded to the nearest euro million except where otherwise indicated. • They have been prepared on a going concern basis (refer to the “Going concern” paragraph on page 146). Basis of consolidation The consolidated financial statements comprise the financial statements of the Group and its subsidiaries. All subsidiaries have accounting years ended 31 December and apply consistent accounting policies for the purpose of the consolidated financial statements. Subsidiary undertakings are consolidated from the date on which control is transferred to the Group and cease to be consolidated from the date on which control is transferred out of the Group. The Group controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through the Group’s power to direct the activities of the entity. All intercompany accounts and transactions are eliminated on consolidation. Associates are all entities over which the Group has significant influence but not control, generally accompanying a shareholding of between 20% to 50% of voting rights. Investments in associates are accounted for using the equity method of accounting, after initially being recognised at cost. The Group treats transactions with non-controlling interests that do not result in a loss of control as equity transactions. When the Group loses control over a subsidiary, it derecognises the related assets (including goodwill), liabilities, non-controlling interest and any other components of equity, while any resulting gain or loss is recognised in profit or loss. Any interest retained in the former subsidiary is measured at fair value when control is lost. The financial results presented herein for the period from 1 January 2021 through to the acquisition of CCL (the Acquisition) effective 10 May 2021 refer to Coca-Cola European Partners plc (Legacy CCEP) and its consolidated subsidiaries. The periods from the Acquisition to the year ended 31 December 2023 refer to the combined financial results of CCEP. Foreign currency The individual financial statements of each subsidiary are presented in the currency of the primary economic environment in which the subsidiary operates (its functional currency). For the purpose of the consolidated financial statements, the results and financial position of each subsidiary are expressed in euros. Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are remeasured to the functional currency of the entity at the rate of exchange in effect at the statement of financial position date with the resulting gain or loss recorded in the consolidated income statement. The consolidated income statement includes non-operating items which are primarily made up of remeasurement gains and losses related to currency exchange rate fluctuations on financing transactions denominated in a currency other than the subsidiary’s functional currency. Non-operating items are shown on a net basis and reflect the impact of any derivative instruments utilised to hedge the foreign currency movements of the underlying financing transactions. The assets and liabilities of the Group's foreign operations are translated from local currencies to the euro reporting currency at exchange rates in effect at the end of each reporting period. Revenues and expenses are translated at average monthly exchange rates, with average rates being a reasonable approximation of the rates prevailing on the transaction dates. Gains and losses from translation are included in other comprehensive income. On disposal of a foreign operation, accumulated exchange differences are recognised as a component of the gain or loss on disposal. The principal exchange rates used for translation purposes in respect of one euro were: Average for the year ended 31 December (A) Closing as at 31 December 2023 2022 2021 2023 2022 British pound 1.15 1.17 1.16 1.15 1.13 US dollar 0.92 0.95 0.85 0.90 0.94 Norwegian krone 0.09 0.10 0.10 0.09 0.10 Swedish krona 0.09 0.09 0.10 0.09 0.09 Icelandic krona 0.01 0.01 0.01 0.01 0.01 Australian dollar 0.61 0.66 0.63 0.61 0.64 Indonesian rupiah (B) 0.06 0.06 0.06 0.06 0.06 New Zealand dollar 0.57 0.60 0.60 0.57 0.60 Papua New Guinean kina 0.26 0.27 0.24 0.24 0.27 (A) For the year ended 31 December 2021, the rates for the Asia Pacific region are calculated as average for the period from 10 May 2021 to 31 December 2021. (B) Indonesian rupiah is shown as 1000 IDR versus 1 EUR. Reporting periods In these consolidated financial statements, the Group is reporting the financial results for the years ended 31 December 2023, 31 December 2022 and 31 December 2021. The following table summarises the number of selling days for the years ended 31 December 2023, 31 December 2022 and 31 December 2021 (based on a standard five day selling week): First half Second half Full year 2023 130 130 260 2022 130 130 260 2021 131 130 261 Comparability Sales of the Group’s products are seasonal. In Europe, the second and third quarters typically account for higher unit sales of the Group’s products than the first and fourth quarters. In the Group’s Asia Pacific territories, the fourth quarter would typically reflect higher sales volumes in the year. 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 reported results for the first and second halves 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.

Accounting policies

Accounting policies	12 Months Ended
	Dec. 31, 2023
Disclosure of changes in accounting policies, accounting estimates and errors [Abstract]
Accounting policies	Accounting policies IFRS 15 “Revenue recognition and deductions from revenue” The Group derives its revenues by making, selling and distributing ready to drink beverages. The revenue from the sale of products is recognised at the point in time at which control passes to a customer, typically when products are delivered to a customer. A receivable is recognised by the Group at the point in time at which the right to consideration becomes unconditional. The Group uses various promotional programmes under which rebates, refunds, price concessions or similar items can be earned by customers for attaining agreed upon sales levels or for participating in specific marketing programmes. Those promotional programmes do not give rise to a separate performance obligation. Where the consideration the Group is entitled to varies because of such programmes, it is deemed to be variable consideration. The related accruals are recognised as a deduction from revenue and are not considered distinct from the sale of products to the customer. Variable consideration is only included to the extent that it is highly probable that the inclusion will not result in a significant revenue reversal in the future normal commercial terms. Financing elements are not deemed present in our contracts with customers, as the sales are made with credit terms not exceeding normal commercial terms. Taxes on sugared soft drinks, excise taxes and taxes on packaging are recorded on a gross basis (i.e. included in revenue) where the Group is the principal in the arrangement. Value added taxes are recorded on a net basis (i.e. excluded from revenue). The Group assesses these taxes and duties on a jurisdiction by jurisdiction basis to conclude on the appropriate accounting treatment. The rest of the accounting policies applied by the Group are included in the relevant notes herein. New and amended standards The Group has applied the following standards and amendments for the first time in the year ended 31 December 2023. IFRS 17 “Insurance Contracts” IFRS 17 “Insurance Contracts” is a comprehensive new standard for insurance contracts covering recognition, measurement, presentation and disclosure. IFRS 17 replaces IFRS 4 “Insurance Contracts”. The overall objective of IFRS 17 is to provide a comprehensive accounting model for insurance contracts that is more useful and consistent for insurers covering all relevant accounting aspects. The new standard had no impact on the consolidated financial statements of the Group. Definition of Accounting Estimates – Amendments to IAS 8 The amendments to IAS 8 clarify the distinction between changes in accounting estimates, changes in accounting policies and corrections of errors. They also clarify how entities use measurement techniques and inputs to develop accounting estimates. These amendments had no impact on the consolidated financial statements of the Group. Disclosure of Accounting Policies – Amendments to IAS 1 and IFRS Practice Statement 2 The amendments to IAS 1 “Presentation of Financial Statements” and IFRS Practice Statement 2 “Making Materiality Judgements” provide guidance and examples to help entities apply materiality judgements to accounting policy disclosures. The amendments aim to help entities provide accounting policy disclosures that are more useful by replacing the requirement for entities to disclose their “significant” accounting policies with a requirement to disclose their “material” accounting policies and adding guidance on how entities apply the concept of materiality in making decisions concerning accounting policy disclosures. The amendments had no impact on the consolidated financial statements of the Group. Deferred Tax related to Assets and Liabilities arising from a Single Transaction – Amendments to IAS 12 The amendments to IAS 12 “Income Tax” narrow the scope of the initial recognition exception, so that it no longer applies to transactions that give rise to equal taxable and deductible temporary differences such as leases and decommissioning liabilities. The amendments had no material impact on the consolidated financial statements of the Group. International Tax Reform - Pillar Two Model Rules - Amendments to IAS 12 The Group has adopted International Tax Reform – Pillar Two Model Rules (Amendments to IAS 12) upon their release on 23 May 2023. The amendments provide a temporary mandatory exception from deferred tax accounting for the top-up tax, which is effective immediately, and require new disclosures about the Pillar Two exposure (see Note 20 for further details). The Group has not early adopted any other amendments to accounting standards that have been issued but are not yet effective. These amendments are not expected to have a material impact to the Group in the current or future periods and on foreseeable future transactions.

Significant judgements and esti

Significant judgements and estimates	12 Months Ended
	Dec. 31, 2023
Significant Judgements and Estimates [Abstract]
Significant judgements and estimates	Significant judgements and estimates In preparing these consolidated financial statements, management has made judgements and estimates that affect the application of the Group’s accounting policies and the reported amounts of assets and liabilities, income and expense. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively. The significant judgements made in applying the Group’s accounting policies were applied consistently across the annual periods. The significant judgements and key sources of estimation uncertainty that have a significant effect on the amounts recognised in these financial statements are outlined below. Significant judgements Intangible assets and goodwill The Group has assigned indefinite lives to its bottling agreements with TCCC. This judgement has been made after evaluating the contractual provisions of the bottling agreements, the Group’s mutually beneficial relationship with TCCC and the history of renewals for bottling agreements. Refer to Note 6 for further details on the judgement regarding the lives of bottling agreements. Significant estimates Impairment of indefinite lived intangible assets and goodwill Determining whether goodwill and intangible assets with indefinite lives are impaired requires an estimation of the value in use or the fair value less costs to sell of the cash generating unit (CGU) to which the goodwill or intangible asset has been allocated. The value in use calculation requires management’s estimation of the future cash flows expected to arise from the CGU, including climate-related risks. Refer to Note 6 for the sensitivity analysis of the assumptions used in the impairment analysis of goodwill and intangible assets with indefinite lives. Deductions from revenue and sales incentives The Group participates in various promotional programmes with customers designed to increase the sale of products. Among the programmes are arrangements under which rebates, refunds, price concessions or similar items can be earned by customers for attaining agreed upon sales levels, or for participating in specific marketing programmes. Those promotional programmes do not give rise to a separate performance obligation. Where the consideration the Group is entitled to varies because of such programmes, the amount payable is deemed to be variable consideration. Management makes estimates on an ongoing basis for each individual promotion to assess the value of the variable consideration based upon historical customer experience, expected customer performance and/or estimated sales volumes. The related accruals are recognised as a deduction from revenue and are not considered distinct from the sale of products to the customer. Refer to Note 14 for further details. Income tax The Group is subject to income taxes in numerous jurisdictions and there are many transactions for which the ultimate tax determination cannot be assessed with certainty in the ordinary course of business. The Group recognises a provision for situations that might arise in the foreseeable future based on an assessment of the probabilities as to whether additional taxes will be due. In addition, the Group is involved in various legal proceedings and tax matters. Where an outflow of funds is believed to be probable and a reliable estimate of the outcome of the dispute can be made, management provides for its best estimate of the liability. Where the final outcome on these matters is different from the amounts that were initially recorded, such differences impact the tax provision in the period in which such determination is made. These estimates are subject to potential change over time as new facts emerge and each circumstance progresses. The evaluation of deferred tax asset recoverability requires estimates to be made regarding the availability of future taxable income in the jurisdiction giving rise to the deferred tax asset. Refer to Note 20 for further details regarding income taxes. Defined benefit plans The determination of pension benefit costs and obligations is estimated based on assumptions determined with the assistance of external actuarial advice. The key assumptions impacting the valuations are the discount rate, salary rate of inflation and mortality rates. Refer to Note 15 for further details about the Group’s defined benefit pension plan costs and obligations, including sensitivities to the key assumptions applied.

Segment information

Segment information	12 Months Ended
	Dec. 31, 2023
Disclosure of operating segments [abstract]
Segment information	Segment information Description of segment and principal activities The Group derives its revenues through a single business activity, which is making, selling and distributing an extensive range of primarily non-alcoholic ready to drink beverages. The Group’s Board continues to be its Chief Operating Decision Maker (CODM), which allocates resources and evaluates performance of its operating segments based on volume, revenue and comparable operating profit. Comparable operating profit excludes items impacting the comparability of period over period financial performance. The following table provides a reconciliation between reportable segment operating profit and consolidated profit before tax: Year ended 31 December 2023 2022 2021 Europe API Total Europe API Total Europe API Total € million € million € million € million € million € million € million € million € million Revenue 14,553 3,749 18,302 13,529 3,791 17,320 11,584 2,179 13,763 Comparable operating profit (A) 1,888 485 2,373 1,670 468 2,138 1,500 272 1,772 Items impacting comparability (B) (34) (52) (256) Reported operating profit 2,339 2,086 1,516 Total finance costs, net (120) (114) (129) Non-operating items (16) (15) (5) Reported profit before tax 2,203 1,957 1,382 (A) Comparable operating profit includes comparable depreciation and amortisation of €558 million and €196 million for Europe and API respectively, for the year ended 31 December 2023. Comparable depreciation and amortisation charges for the year ended 31 December 2022 totalled €549 million and €223 million for Europe and API respectively. Comparable depreciation and amortisation charges for the year ended 31 December 2021 totalled €564 million and €162 million for Europe and API respectively. (B) Items impacting the comparability of period over period financial performance for 2023 primarily include restructuring charges of €94 million (refer to Note 17) and accelerated amortisation charges of €27 million (refer to Note 6), partially offset by €18 million of royalty income arising from the ownership of certain mineral rights in Australia (refer to Note 23), considerations of €35 million received relating to the sale of the sub-strata and associated mineral rights in Australia (refer to Note 23) and gains of €54 million mainly attributable to the sale of property in Germany (refer to Note 23). Items impacting the comparability for 2022 included restructuring charges of €163 million (refer to Note 17), partially offset by €96 million of other income arising from the favourable court ruling pertaining to the ownership of certain mineral rights in Australia (refer to Note 23) and net insurance recoveries received of €11 million arising from the July 2021 flooding events. No single customer accounted for more than 10% of the Group’s revenue during the years ended 31 December 2023, 31 December 2022 and 31 December 2021. Revenue by geography The following table summarises revenue from external customers by geography, which is based on the origin of the sale: Year ended 31 December 2023 2022 2021 Revenue: € million € million € million Iberia (A) 3,325 3,034 2,495 Germany 3,018 2,682 2,335 Great Britain 3,235 3,088 2,613 France (B) 2,321 2,089 1,813 Belgium/Luxembourg 1,078 1,042 926 Netherlands 718 682 557 Norway 376 404 391 Sweden 398 421 375 Iceland 84 87 79 Total Europe 14,553 13,529 11,584 Australia 2,385 2,339 1,359 New Zealand and Pacific Islands 679 649 377 Indonesia and Papua New Guinea 685 803 443 Total API 3,749 3,791 2,179 Total CCEP 18,302 17,320 13,763 (A) Iberia refers to Spain, Portugal and Andorra. (B) France refers to continental France and Monaco. Assets by geography Assets are allocated based on operations and physical location. The following table summarises non-current assets, other than financial instruments and deferred tax assets, by geography: Year ended 31 December 2023 2022 Assets: € million € million Iberia (A) 6,455 6,401 Germany 3,162 3,091 Great Britain 2,523 2,469 France (B) 940 896 Belgium/Luxembourg 623 613 Netherlands 439 428 Sweden 349 349 Norway 225 242 Iceland 38 36 Other unallocated 360 271 Total Europe 15,114 14,796 Australia 5,065 5,281 New Zealand and Pacific Islands 1,687 1,755 Indonesia and Papua New Guinea 682 726 Total API 7,434 7,762 Total CCEP 22,548 22,558 (A) Iberia refers to Spain, Portugal and Andorra. (B) France refers to continental France and Monaco.

Earnings per share

Earnings per share	12 Months Ended
	Dec. 31, 2023
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 The following table summarises basic and diluted earnings per share calculations for the years presented: Year ended 31 December 2023 2022 2021 Profit after taxes attributable to equity shareholders (€ million) 1,669 1,508 982 Basic weighted average number of Shares in issue (A) (million) 459 457 456 Effect of dilutive potential Shares (B) (million) — 1 1 Diluted weighted average number of Shares in issue (A) (million) 459 458 457 Basic earnings per share (C) (€) 3.64 3.30 2.15 Diluted earnings per share (C) (€) 3.63 3.29 2.15 (A) As at 31 December 2023, 31 December 2022 and 31 December 2021, the Group had 459,200,818, 457,106,453 and 456,235,032 Shares, respectively, in issue and outstanding. (B) For the years ended 31 December 2023, 31 December 2022 and 31 December 2021, no options to purchase Shares were excluded from the diluted earnings per share calculation. The dilutive impact of all outstanding options, unvested restricted stock units and unvested performance share units was included in the effect of dilutive securities. (C) Basic and diluted earnings per share are calculated prior to rounding.

Intangible assets and goodwill

Intangible assets and goodwill	12 Months Ended
	Dec. 31, 2023
Intangible assets and goodwill [abstract]
Intangible assets and goodwill	Intangible assets and goodwill Intangible assets with indefinite lives Intangible assets with indefinite lives acquired through business combination transactions are measured at fair value at the date of acquisition. These assets TCCC franchise intangible assets The Group’s bottling agreements with TCCC contain performance requirements and convey the rights to distribute and sell products within specified territories. The agreements in each territory are for initial terms of indefinite lives have been assigned to all of the Group’s TCCC bottling agreements. Brands In connection with the Acquisition, the Group acquired a portfolio of brands, predominantly comprised of certain non-alcoholic ready to drink beverages distributed and sold in Australia and New Zealand. These are considered to have an indefinite life, given the strength and durability of the brands. Refer to Note 19 for details surrounding the subsequent sale of certain non-alcoholic ready to drink brands to TCCC, which was completed in tranches. Goodwill Goodwill is initially measured as the excess of the total consideration transferred over the amount recognised for net identifiable assets acquired and liabilities assumed in a business combination. If the fair value of the net assets acquired is in excess of the aggregate consideration transferred, the gain is recognised in the consolidated income statement as a bargain purchase. Goodwill is not subject to amortisation. It is tested annually for impairment at the CGU level or more frequently if events or changes in circumstances indicate that it might be impaired. Goodwill acquired in a business combination is allocated to the CGU that is expected to benefit from the synergies of the combination irrespective of whether a CGU is part of the business combination. Intangible assets with finite lives Intangible assets with finite lives are measured at cost of acquisition or production and are amortised using the straight-line method over their respective estimated useful lives. Finite lived intangible assets are assessed for impairment whenever there is an indication that they may be impaired. The amortisation period and method are reviewed annually. Internally generated software The Group capitalises certain development costs associated with internally developed software, including external direct costs of materials and services, and payroll costs for employees devoting time to a software project and any such software acquired as part of a business combination. Development expenditure is recognised as an intangible asset only after its technical feasibility and commercial viability can be demonstrated. When capitalised software is not integral to related hardware, it is treated as an intangible asset; otherwise it is included within property, plant and equipment. The estimated useful life of capitalised software is predominantly between five Customer relationships The Group has acquired certain customer relationships in connection with business combinations. These customer relationships are recorded at fair value on the date of acquisition, and amortised over an estimated economic useful life of 20 years. Amortisation expense for these assets is included within administrative expenses and was €10 million, €10 million and €9 million for the years ended 31 December 2023, 31 December 2022 and 31 December 2021, respectively. Non-TCCC franchise intangible In connection with the Acquisition, the Group acquired certain bottling agreements with non-TCCC distribution partners, mainly Beam Suntory, which contain performance requirements and convey the rights to distribute and sell products within specified API territories. The non-TCCC bottling arrangements were recorded at fair value at the acquisition date and were initially amortised over an expected economic useful life of 20 years. On 2 August 2023, the Group announced that CCEP and Beam Suntory will discontinue their relationship effective 1 July 2025 (Australia) and 1 January 2026 (New Zealand). CCEP will remain the exclusive manufacturing, sales and distribution partner for Beam Suntory in Australia and New Zealand through the end of the current contractual terms set to expire on 30 June 2025 and 31 December 2025, respectively. The discontinuance of the relationship triggered a change in the assigned useful economic life of the intangible assets effective from the second half of 2023, resulting in an accelerated amortisation charge of €27 million recognised for the year ending 31 December 2023. As at 31 December 2023, finite-lived intangible assets of €94 million were reflected in the consolidated statement of financial position related to the Beam Suntory distribution rights, primarily attributable to those available in Australia. Total amortisation expense for these assets is recognised within administrative expenses and totalled €35 million, €8 million and €5 million for the years ended 31 December 2023, 31 December 2022 and 31 December 2021, respectively. Balances and movements in intangible assets and goodwill The following table summarises the movements in the carrying amounts of intangible assets and goodwill for the periods presented: TCCC franchise Brands Software Customer relationships Non-TCCC franchise intangible Assets under construction Total intangibles Goodwill € million € million € million € million € million € million € million € million Cost: As at 31 December 2021 12,008 22 571 197 149 47 12,994 4,623 Additions — — 40 1 — 63 104 — Disposals — — (27) — — (1) (28) — Transfers and reclassifications — 11 39 — — (38) 12 — Currency translation adjustments (134) 6 (2) (3) (1) (2) (136) (23) As at 31 December 2022 11,874 39 621 195 148 69 12,946 4,600 Additions — — 64 — — 92 156 — Disposals — — (27) — — — (27) — Transfers and reclassifications — — 63 — — (65) (2) — Currency translation adjustments (116) (7) (1) (1) (6) (2) (133) (86) As at 31 December 2023 11,758 32 720 194 142 94 12,940 4,514 Accumulated amortisation: As at 31 December 2021 — — (297) (53) (5) — (355) — Amortisation expense — — (83) (10) (8) — (101) — Disposals — — 22 — — — 22 — Currency translation adjustments — (7) (2) 2 — — (7) — As at 31 December 2022 — (7) (360) (61) (13) — (441) — Amortisation expense — — (94) (10) (35) — (139) — Disposals — — 27 — — — 27 — Currency translation adjustments — 7 1 — — — 8 — As at 31 December 2023 — — (426) (71) (48) — (545) — Net book value: As at 31 December 2021 12,008 22 274 144 144 47 12,639 4,623 As at 31 December 2022 11,874 32 261 134 135 69 12,505 4,600 As at 31 December 2023 11,758 32 294 123 94 94 12,395 4,514 Impairment of indefinite lived intangible assets and goodwill Each CGU is tested for impairment annually in the fourth quarter or whenever there is an indication of impairment. The recoverable amount of each CGU is normally determined through a value in use calculation. To determine value in use for a CGU, estimated future cash flows are discounted to their present values using a pre-tax discount rate reflective of the current market conditions and risks specific to each CGU. If the carrying value of a CGU exceeds its recoverable amount, the carrying value of the CGU is reduced to its recoverable amount and impairment charges are recognised immediately within the consolidated income statement. Impairment charges other than those related to goodwill may be reversed in future periods if a subsequent test indicates that the recoverable amount has increased. Such recoveries may not exceed a CGU’s original carrying value less any depreciation that would have been recognised if no impairment charges were previously recorded. The Group’s CGUs are based on geography and generally represent the individual territories in which the Group operates. For the purposes of allocating intangibles, each indefinite lived intangible asset is allocated to the geographic region to which the agreement relates and goodwill is allocated to each of the CGUs expected to benefit from a business combination, irrespective of whether other assets and liabilities of the acquired businesses are assigned to the CGUs. The following table identifies the carrying value of goodwill and indefinite lived intangible assets attributable to each significant CGU of the Group. In addition to the significant CGUs of the Group, as at 31 December 2023, the Group had other CGUs with total indefinite lived intangible assets of €1,349 million (2022: €1,369 million) and goodwill of €370 million (2022: €380 million). Year ended 31 December 2023 2022 Indefinite lived intangible assets Goodwill Indefinite lived intangible assets Goodwill Cash generating unit € million € million € million € million Iberia 4,289 1,275 4,289 1,275 Australia 2,596 1,397 2,690 1,450 Great Britain 1,680 200 1,646 200 Germany 1,060 748 1,060 748 Pacific (A) 816 524 849 547 (A) Pacific refers to New Zealand and Pacific Islands. The recoverable amount of each CGU was determined through a value in use calculation, which uses cash flow projections for a five year period. These projections reflect the impact of climate change on our business as well as the mitigating actions and strategies we are undertaking to support our commitment to reach Net Zero by 2040. The key assumptions used in projecting these cash flows were as follows: • Growth rate and operating margins: Cash flows were projected over four years based on the Group’s strategic business plan. Cash flows for the fifth year and beyond were projected using an inflation-based long-term terminal growth rate between 1.6% and 4.5%. • Discount rate: A weighted average cost of capital was applied specific to each CGU as a hurdle rate to discount cash flows. The discount rates represent the current market assessment of the risks specific to each CGU, taking into consideration the time value of money and individual risks of the underlying assets that have not been incorporated in the cash flow estimates. The following table summarises the pre-tax discount rate attributable to each significant CGU. 2023 2022 Pre-tax Pre-tax Cash generating unit % % Iberia 9.3 8.7 Australia 11.1 9.1 Great Britain 9.8 9.3 Germany 10.1 7.9 Pacific (A) 11.2 9.7 (A) Pacific refers to New Zealand and Pacific Islands. The Group did not record any impairment charges as a result of the tests conducted in 2023 and 2022. The Group’s Iberia, Australia, Great Britain and Germany CGUs have substantial headroom when comparing the value in use calculation of the CGU versus the CGU’s total carrying value. For the Group’s Pacific CGU, the headroom in the 2023 impairment analysis was approximately 11% of total carrying value. The Group estimates that a 0.9% reduction in the terminal growth rate or a 0.7% increase in the discount rate, each in isolation, would eliminate existing headroom in Pacific. For the Group’s Indonesia CGU, the headroom in the 2023 impairment analysis was approximately 11% of total carrying value. The indefinite lived intangible assets and goodwill equalled €143 million in total and the pre-tax discount rate used in the test was 12.2%. The Group estimates that a 1.2% reduction in the terminal growth rate or a 0.8% increase in the discount rate, each in isolation, would eliminate existing headroom in Indonesia.

Property, plant and equipment

Property, plant and equipment	12 Months Ended
	Dec. 31, 2023
Property, plant and equipment [abstract]
Property, plant and equipment	Property, plant and equipment Property, plant and equipment is recorded at cost, net of accumulated depreciation and accumulated impairment losses, where cost is the amount of cash or cash equivalents paid to acquire an asset at the time of its acquisition or construction. Major property additions, replacements and improvements are capitalised, while maintenance and repairs that do not extend the useful life of an asset or add new functionality are expensed as incurred. Land is not depreciated, as it is considered to have an indefinite life. For all property, plant and equipment, other than land, depreciation is recorded using the straight-line method over the respective estimated useful lives as follows: Useful life (years) Category Low High Buildings and improvements 10 40 Machinery, equipment and containers 3 20 Cold drink equipment 2 12 Vehicle fleet 3 12 Furniture and office equipment 3 10 Gains or losses arising on the disposal or retirement of an asset are determined as the difference between the carrying amount of the asset and any proceeds from its sale. Leasehold improvements are amortised using the straight-line method over the shorter of the remaining lease term or the estimated useful life of the improvement. The Group assesses, at each reporting date, whether there is an indication that an asset may be impaired. If any indication exists, an impairment test is performed to estimate the potential loss of value that may reduce the recoverable amount of the asset to below its carrying amount. Any impairment loss is recognised within the consolidated income statement by the amount which the carrying amount exceeds the recoverable amount. Useful lives and residual amounts are reviewed annually and adjustments are made prospectively as required. For property, plant and equipment, the Group assesses annually whether there is an indication that previously recognised impairment losses no longer exist or have decreased. If such an indication exists, a previously recognised impairment loss is reversed only if there has been a change in the assumptions used to determine the asset’s recoverable amount since the last impairment loss was recognised and only up to the recoverable amount or the original carrying amount net of depreciation that would have been incurred had no impairment losses been recognised. The transition to a low-carbon economy may impact the carrying value and remaining useful economic lives of the Group’s property, plant and equipment. The Group continues to invest in more efficient, cleaner and more technologically advanced assets, however, the significant majority of the Group’s assets currently in operation are likely to be substantially depreciated ahead of our Net Zero 2040 target, as set out in our Strategic Report on pages 37-40. In addition, the Group continuously monitors the latest developments in government legislation in relation to climate-related risks. Currently, no legislation has been passed that will materially impact the carrying value and remaining useful economic lives of the Group. The Group leases land, office and warehouse property, computer hardware, machinery and equipment, and vehicles under non-cancellable lease agreements, most of which expire at various dates through to 2030. The Group includes right of use assets within property, plant and equipment. Right of use assets are initially measured at cost, comprising the initial measurement of the lease liability, plus any direct costs and an estimate of asset retirement obligations, less lease incentives. Subsequently, right of use assets are measured at cost, less accumulated depreciation and any accumulated impairment losses. Depreciation is calculated on a straight-line basis over the term of the lease. The Group does not separate lease from non-lease components for each of its lease categories, except for property leases. All low value leases with total minimum lease payments under €5,000 and leases with a term less than 12 months are expensed on a straight-line basis. Extension and termination options are included in a number of property and equipment leases across the Group and are used to maximise operational flexibility in terms of managing contracts. Extension options (or periods after termination options) are only included in the lease term if the Group has an enforceable right to extend or terminate the lease and is reasonably certain to do so. The following table summarises the movement in net book value for property, plant and equipment for the periods presented: Land Buildings and improvements Machinery, equipment and containers Cold drink equipment Vehicle fleet Furniture Assets under construction Total € million € million € million € million € million € million € million € million Cost: As at 31 December 2021 663 2,429 3,578 1,026 298 160 206 8,360 Additions 1 131 221 65 59 21 287 785 Disposals (3) (28) (103) (49) (58) (8) — (249) Assets held for sale (29) (26) (8) — — — — (63) Transfers and reclassifications 27 37 75 36 2 8 (184) 1 Currency translation adjustments (11) (42) (40) 32 (4) (2) (4) (71) As at 31 December 2022 648 2,501 3,723 1,110 297 179 305 8,763 Additions 20 71 271 73 101 9 344 889 Disposals (1) (44) (214) (47) (51) (3) — (360) Transfers and reclassifications 2 84 124 34 3 12 (259) — Currency translation adjustments (12) (26) (18) (9) (1) (2) (1) (69) As at 31 December 2023 657 2,586 3,886 1,161 349 195 389 9,223 Accumulated depreciation: As at 31 December 2021 — (766) (1,473) (631) (151) (91) — (3,112) Depreciation expense — (128) (380) (127) (58) (22) — (715) Disposals — 19 105 49 53 8 — 234 Assets held for sale — 10 9 — — — — 19 Transfers and reclassifications — — 3 (2) — — — 1 Currency translation adjustments — 22 (2) (14) 3 2 — 11 As at 31 December 2022 — (843) (1,738) (725) (153) (103) — (3,562) Depreciation expense — (137) (318) (112) (61) (25) — (653) Disposals — 28 204 43 47 3 — 325 Transfers and reclassifications — — 3 (1) — — — 2 Currency translation adjustments — — 5 4 — — — 9 As at 31 December 2023 — (952) (1,844) (791) (167) (125) — (3,879) Net book value: As at 31 December 2021 663 1,663 2,105 395 147 69 206 5,248 As at 31 December 2022 648 1,658 1,985 385 144 76 305 5,201 As at 31 December 2023 657 1,634 2,042 370 182 70 389 5,344 Right of use assets The following table summarises the net book value of right of use assets included within property, plant and equipment: Year ended 31 December 2023 2022 € million € million Buildings and improvements 427 465 Vehicle fleet 171 133 Machinery, equipment and containers 81 82 Furniture and office equipment 2 3 Total 681 683 Total additions to right of use assets during 2023 were €192 million The following table summarises depreciation charges relating to right of use assets for the periods presented: Year ended 31 December 2023 2022 € million € million Buildings and improvements 67 63 Vehicle fleet 58 57 Machinery, equipment and containers 32 34 Furniture and office equipment 2 2 Total 159 156 During the years ended 31 December 2023 and 31 December 2022, the total expense relating to low value and short-term leases was €24 million and €24 million, respectively, which is primarily included in administrative expenses. The Group does not have any residual value guarantees in relation to its leases. As at 31 December 2023, the total value of lease extension and termination options included within right of use assets was €17 million (2022: €35 million). The Group incurred variable lease expenses of €157 million in 2023 (2022: €153 million),

Inventories

Inventories	12 Months Ended
	Dec. 31, 2023
Inventories [Abstract]
Inventories	Inventories Inventories are valued at the lower of cost or net realisable value and cost is determined using the first-in, first-out (FIFO) method. Inventories consist of raw materials, supplies (primarily including concentrate, other ingredients and packaging) and finished goods, which also include direct labour, indirect production and overhead costs. Cost includes all costs incurred to bring inventories to their present location and condition. Cost of inventories also includes the transfer from equity of gains and/or losses on qualified cash flow hedges relating to inventory purchases. Spare parts, classified and accounted as inventories, are recorded as assets at the time of purchase and are expensed as utilised. Net realisable value is the estimated selling price in the ordinary course of business, less the estimated costs necessary to complete and sell the inventory. The following table summarises the inventory outstanding in the consolidated statement of financial position as at the dates presented: Year ended 31 December 2023 2022 € million € million Finished goods 750 777 Raw materials and supplies 449 452 Spare parts and other 157 151 Total inventories 1,356 1,380 Write downs of inventories totalled €59 million, €41 million and €41 million for the years ended 31 December 2023, 31 December 2022 and 31 December 2021, respectively. The majority of these write downs were included in cost of sales on the consolidated income statement. None of these write downs of inventory were subsequently reversed.

Trade accounts receivable

Trade accounts receivable	12 Months Ended
	Dec. 31, 2023
Trade and other receivables [abstract]
Trade accounts receivable	Trade accounts receivable The Group sells its products to retailers, wholesalers and other customers and extends credit, generally without requiring collateral, based on an evaluation of the customer’s financial condition. While the Group has a concentration of credit risk in the retail sector, this risk is mitigated due to the diverse nature of the customers the Group serves, including, but not limited to, their type, geographic location, size and beverage channel. Trade accounts receivable are initially recognised at their transaction price and subsequently measured at amortised cost less provision for impairment. Typically, accounts receivable have terms of 30 to 60 days and do not bear interest. The Group applies an expected credit loss reserve methodology to assess possible impairments. Balances are considered for impairment on an individual basis rather than by reference to the extent that they become overdue. The Group considers factors such as delinquency in payment, financial difficulties, payment history of the debtor and certain forward-looking macroeconomic indicators. The carrying amount of trade accounts receivable is reduced through the use of an allowance account, and the amount of the loss is recognised in the consolidated income statement. Credit insurance on a portion of the accounts receivable balance is also carried. Refer to Note 26 for further details on credit risk management. As a result of continued recession risk across our European territories, the Group supplements its existing credit loss reserve methodology to include an incremental loss allowance for those receivable balances that were deemed to be higher risk in the current environment. The incremental allowance is included within allowance for doubtful accounts below, as at 31 December 2023 and 31 December 2022. The following table summarises the trade accounts receivable outstanding in the consolidated statement of financial position as at the dates presented: Year ended 31 December 2023 2022 € million € million Trade accounts receivable, gross 2,601 2,523 Allowance for doubtful accounts (54) (57) Total trade accounts receivable 2,547 2,466 The following table summarises the ageing of trade accounts receivable, net of allowance for doubtful accounts, in the consolidated statement of financial position as at the dates presented: Year ended 31 December 2023 2022 € million € million Not past due 2,348 2,287 Past due 1 – 30 days 142 102 Past due 31 – 60 days 16 30 Past due 61 – 90 days 7 15 Past due 91 – 120 days 9 14 Past due 121+ days 25 18 Total 2,547 2,466 The following table summarises the change in the allowance for doubtful accounts for the periods presented: Allowance for doubtful accounts € million As at 31 December 2021 (49) Provision for impairment recognised during the year (15) Receivables written off during the year as uncollectable 5 Reversals 1 Currency translation adjustments 1 As at 31 December 2022 (57) Provision for impairment recognised during the year (9) Receivables written off during the year as uncollectible 9 Reversals 2 Currency translation adjustments 1 As at 31 December 2023 (54)

Cash and cash equivalents and s

Cash and cash equivalents and short term investments	12 Months Ended
	Dec. 31, 2023
Cash and cash equivalents [abstract]
Cash and cash equivalents and short term investments	Cash and cash equivalents and short-term investments Cash and cash equivalents Cash and cash equivalents include cash and short-term, highly liquid financial instruments with maturity dates of less than three months when acquired that The following table summarises the cash and cash equivalents outstanding in the consolidated statement of financial position as at the dates presented: Year ended 31 December 2023 2022 € million € million Cash at banks and on hand 465 491 Short-term deposits and securities 954 896 Total cash and cash equivalents 1,419 1,387 Cash and cash equivalents are held in the following currencies as at the Year ended 31 December 2023 2022 € million € million Euro 662 477 British pound 305 190 US dollar 64 88 Norwegian krone 58 35 Swedish krona 26 21 Australian dollar 118 358 Indonesian rupiah 48 26 Papua New Guinean kina 42 102 Other 96 90 Total cash and cash equivalents 1,419 1,387 Included within cash and cash equivalents as at 31 December 2023 and 31 December 2022 are Papua New Guinea cash assets of €42 million Short-term investments Short-term investments are financial assets that are initially recognised at fair value and subsequently measured at amortised cost. The Group classifies its financial assets as at amortised cost only if both of the following criteria are met: • the asset is held within a business model whose objective is to collect the contractual cash flows; and • the contractual terms give rise to cash flows that are solely payments for principal and interest. The short-term investment balance is comprised of time deposits and treasury bills, with maturity dates of greater than three months and less than one year when acquired, which do not meet the definition of cash and cash equivalents, and are expected to be held until maturity. These are highly liquid investments and, due to their short-term nature, their carrying amount is not significantly different from the fair values. As at 31 December 2023, short-term investments were €568 million (2022: €256 million), which included €33 million (2022: €49 million) denominated in Papua New Guinea kina that are subject to government-imposed currency controls which impact the extent to which these investments, upon maturity, can be converted into foreign currency and remitted for use elsewhere in the Group. Cash receipts arising from the interest earned on cash and cash equivalents and short-term investments were €58 million, €25 million and €12 million for the years ended 31 December 2023, 31 December 2022, and 31 December 2021 respectively, and in the current year considered a major class of gross cash receipts from investing activities. Accordingly, these have been presented separately in the Group’s consolidated statement of cash flows in the current year.

Fair values

Fair values	12 Months Ended
	Dec. 31, 2023
Fair Value Measurement [Abstract]
Fair values	Fair values Fair value measurements All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised within the fair value hierarchy. This is described as one of the following, based on the lowest-level input that is significant to the fair value measurement as a whole: • Level 1 – Quoted prices in active markets for identical assets or liabilities. • Level 2 – Observable inputs other than quoted prices included in Level 1. The Group values assets and liabilities included in this level using dealer and broker quotations, certain pricing models, bid prices, quoted prices for similar assets and liabilities in active markets or other inputs that are observable or can be corroborated by observable market data. • Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. The fair values of the Group’s cash and cash equivalents, short-term investments, 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 within 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. Refer to Note 13 for further details regarding the Group’s borrowings. The following table summarises the book value and fair value of the Group’s borrowings as at the dates presented: Year ended 31 December 2023 2022 € million € million Fair value of borrowings 10,580 10,503 Book value of borrowings (Note 13) 11,396 11,907 The Group’s derivative assets and liabilities are carried at fair value both upon initial recognition and subsequently. The fair value 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 the Group’s derivative contracts (including forwards, options, futures, cross currency swaps and interest rate swaps) is 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. Refer to Note 12 for further details about the Group’s derivatives. The following table summarises the fair value of the derivative assets and liabilities as at the dates presented: Year ended 31 December 2023 2022 € million € million Assets at fair value: Derivatives (Note 12) 261 448 Liabilities at fair value: Derivatives (Note 12) 268 263 For assets and liabilities that are recognised in the financial statements on a recurring basis, the Group determines whether transfers have occurred between levels in the hierarchy by reassessing categorisation at the end of each reporting period. There have been no transfers between levels during the periods presented.

Hedging activities

Hedging activities	12 Months Ended
	Dec. 31, 2023
Financial Instruments [Abstract]
Hedging activities	Hedging activities Derivative financial instruments The Group utilises derivative financial instruments to mitigate its exposure to certain market risks associated with its ongoing operations. The primary risks that it seeks to manage through the use of derivative financial instruments include currency exchange risk, commodity price risk and interest rate risk. All derivative financial instrument assets and liabilities are recorded at fair value in the consolidated statement of financial position. The Group does not use derivative financial instruments for trading or speculative purposes, and all hedge ratios are on a 1:1 basis. At the inception of a hedge transaction, the Group documents the relationship between the hedging instrument and the hedged item, as well as its risk management objective and strategy for undertaking the hedge transaction. This process includes linking the derivative financial instrument designated as a hedging instrument to the specific asset, liability, firm commitment or forecasted transaction. Refer to Note 26 for further details about the Group’s risk management strategy and objectives. Both at the hedge inception and on an ongoing basis, the Group assesses and documents whether the derivative financial instrument used in the hedging transaction is highly effective in maintaining the risk management objectives. Where critical terms match, the Group uses a qualitative assessment to ensure initial and ongoing effectiveness criteria. Hedge accounting is discontinued when the hedging instrument expires or is sold, terminated, exercised or no longer qualifies for hedge accounting. At that time, any cumulative gain or loss on the hedging instrument recognised in equity is retained in equity until the forecasted transaction occurs. If the hedged transaction is no longer expected to occur, the net cumulative gain or loss recognised in equity is transferred to the income statement. While certain derivative financial instruments are designated as hedging instruments, the Group may also enter into derivative financial instruments that are designed to hedge a risk but are not designated as hedging instruments (referred to as an economic hedge or a non-designated hedge). The decision regarding whether or not to designate a hedge for hedge accounting is made by management considering the size, purpose and tenure of the hedge, as well as the anticipated ability to achieve and maintain the Group’s risk management objective. The Group is exposed to counterparty credit risk on all of its derivative financial instruments. It has established and maintained strict counterparty credit guidelines and enters into hedges only with financial institutions that are investment grade or better. It continuously monitors counterparty credit risk and utilises numerous counterparties to minimise its exposure to potential defaults. The following table summarises the fair value of the assets and liabilities related to derivative financial instruments and the respective line items in which they were recorded in the consolidated statement of financial position as at the dates presented. All derivative instruments are classified as Level 2 within the fair value hierarchy. Discussion of the Group’s other financial assets and liabilities is contained elsewhere in these financial statements. Refer to Note 9 for trade accounts receivable, Note 14 for trade and other payables, Note 13 for borrowings and Note 19 for amounts receivable and payable with related parties. Hedging instrument Location – statement of financial position Year ended 31 December 2023 2022 € million € million Assets: Derivatives designated as hedging instruments: Commodity contracts Non-current derivative assets 38 30 Foreign currency contracts Non-current derivative assets — 4 Interest rate and cross currency swaps Non-current derivative assets 62 157 Commodity contracts Current derivative assets 94 133 Foreign currency contracts Current derivative assets 20 27 Interest rate and cross currency swaps Current derivative assets 47 97 Total assets 261 448 Liabilities: Derivatives designated as hedging instruments: Commodity contracts Non-current derivative liabilities 30 6 Foreign currency contracts Non-current derivative liabilities 2 10 Interest rate and cross currency swaps Non-current derivative liabilities 137 171 Commodity contracts Current derivative liabilities 58 47 Foreign currency contracts Current derivative liabilities 36 29 Deal contingent forwards Current derivative liabilities 5 — Total liabilities 268 263 Cash flow hedges The Group uses cash flow hedges to mitigate its exposure to variability in cash flows attributable to currency fluctuations and commodity price fluctuations associated with certain highly probable forecasted transactions, including purchases of raw materials, finished goods and services denominated in Effective changes in the fair value of these cash flow hedging instruments are recognised as a component of other reserves in the consolidated statement of changes in equity. Any changes in the fair value of these cash flow hedges that are the result of ineffectiveness are recognised immediately in the line item in the consolidated income statement that is consistent with the nature of the underlying hedged item. Historically, the Group has not experienced, nor does it expect to experience, material hedge ineffectiveness with the value of the hedged instrument equalling that of the hedged item. If the hedged cash flow results in a subsequent recognition of a non-financial asset or liability, the gains and/or losses accumulated in equity are included in the measurement of the cost of the asset or liability. For other cash flow hedges, the amounts deferred in equity are then recognised within the line item in the consolidated income statement that is consistent with the nature of the underlying hedged item in the period that the forecasted purchases or payments impact earnings. The following table summarises the Group’s outstanding cash flow hedges by risk category as at the dates presented (all contracts denominated in a foreign currency have been converted into euro using the respective year end spot rate): Notional maturity profile Total Less than 1 year 1 to 3 years 3 to 5 years Over 5 years Cash flow hedges € million € million € million € million € million Foreign currency contracts 1,074 912 162 — — Interest rate and cross currency swaps 2,225 144 1,365 — 716 Commodity contracts 922 566 356 — — As at 31 December 2021 4,221 1,622 1,883 — 716 Foreign currency contracts 1,723 1,292 431 — — Interest rate and cross currency swaps 2,079 760 604 416 299 Commodity contracts 1,397 834 563 — — As at 31 December 2022 5,199 2,886 1,598 416 299 Deal contingent foreign currency forwards 636 636 — — — Foreign currency contracts 1,105 980 125 — — Interest rate and cross currency swaps 1,306 602 — 520 184 Commodity contracts 1,441 829 588 9 15 As at 31 December 2023 4,488 3,047 713 529 199 The net notional amount of outstanding interest rate and cross currency swaps used to hedge interest rate risk and currency fluctuations of non-functional currency borrowings was €1.3 billion as at 31 December 2023, €2.1 billion as at 31 December 2022 and €2.2 billion as at 31 December 2021. The net notional amount of the other outstanding foreign currency cash flow hedges was as at 31 December 2021. The net notional amount of outstanding commodity-related cash flow hedges was €1.4 billion as at 31 December 2023, During 2023, the Group entered into deal-contingent foreign currency forwards with a total notional amount of €636 million in order to mitigate the foreign currency risk arising from the proposed acquisition of CCBPI. These instruments were recorded as cash flow hedges. Refer to Note 19 for further information concerning the proposed acquisition. As of 31 December 2023, a loss of €5 million is recognised in other comprehensive income related to changes in the fair value of these instruments. Outstanding cash flow hedges as at 31 December 2023 are expected to be settled between 2024 and 2036. The following table provides a reconciliation by risk category of the net of tax impacts on the cash flow hedge reserve disclosed in Note 16, resulting from cash flow hedge accounting: Foreign currency contracts Commodity contracts Interest rate and cross currency swaps Total Cash flow hedges € million € million € million € million As at 1 January 2021 (1) 20 1 20 Net fair value gains/(losses) recognised in OCI 108 209 (16) 301 Net (gains)/losses reclassified from OCI to income statement or transferred to cost of inventories 3 (76) (13) (86) Gains transferred to goodwill (84) — — (84) As at 31 December 2021 26 153 (28) 151 Net fair value gains/(losses) recognised in OCI 13 43 46 102 Net (gains)/losses reclassified from OCI to income statement or transferred to cost of inventories (19) (117) (13) (149) As at 31 December 2022 20 79 5 104 Net fair value gains/(losses) recognised in OCI (26) 67 (3) 38 Net (gains)/losses reclassified from OCI to income statement or transferred to cost of inventories (A) 10 (111) (10) (111) As at 31 December 2023 4 35 (8) 31 (A) The amount includes a net of tax gain of €83 million transferred from the cash flow hedge reserve to the cost of inventories. The following table summarises the net of tax effect of the cash flow hedges in the consolidated income statement for the periods presented: Cash flow hedging instruments Location – Income statement Amount of gain/(loss) reclassified Year ended 31 December 2023 2022 2021 € million € million € million Foreign currency contracts Cost of sales 1 19 (3) Commodity contracts Cost of sales — 83 74 Commodity contracts Selling and distribution expenses 17 34 2 Interest rate and cross currency swaps Finance costs 10 13 13 Total 28 149 86 Ineffectiveness associated with these cash flow hedges was not material during any year presented within these financial statements. Fair value hedges The Group has designated certain cross currency swaps used to mitigate foreign currency risk and interest rate risk on foreign currency borrowings as fair value hedges. There is an economic relationship between the hedged item and the hedging instrument, as the terms of the cross currency swap contracts match the terms of the fixed rate borrowings. The Group has established a hedge ratio of 1:1 for the hedging relationship. The following table summarises the Group’s outstanding fair value hedges by risk category as at the dates presented (all contracts denominated in a foreign currency have been converted into euros using the respective year end spot rate): Less than 1 year 1 to 3 years 3 to 5 years Over 5 years Fair value hedges Total € million € million € million € million Interest rate and cross currency swaps 166 — — — 166 As at 31 December 2021 166 — — — 166 Interest rate and cross currency swaps 1,165 — — 500 665 As at 31 December 2022 1,165 — — 500 665 Interest rate and cross currency swaps 1,159 — 275 450 434 As at 31 December 2023 1,159 — 275 450 434 The net notional amount of outstanding interest rate and cross currency swaps designated in a fair value hedge relationship with borrowings was €1,159 million as at 31 December 2023, €1,165 million as at 31 December 2022 and €166 million as at 31 December 2021. The following table summarises the gains/(losses) recognised from the settlement of fair value hedges within the consolidated income statement for the periods presented: Fair value hedges Location – Income statement Year ended 31 December 2023 2022 2021 € million € million € million Interest rate and cross currency swaps Finance costs (30) 2 (2) Total (30) 2 (2) The carrying value of the hedged item recognised in borrowings as at 31 December 2023 is €1,051 million (31 December 2022: €1,019 million), which includes accumulated amounts of fair value hedging adjustments of €106 million reduction in borrowings (31 December 2022: €146 million reduction in borrowings). Non-designated hedges The Group periodically enters into derivative instruments that are designed to hedge various risks but are not designated as hedging instruments. At times, it enters into other short-term non-designated hedges to mitigate its exposure to changes in cash flows attributable to currency fluctuations associated with no qualifying hedged items such as short-term intercompany loans and certain cash equivalents denominated in non-functional currencies. Changes in the fair value of outstanding non-designated hedges are recognised each reporting period in the line item in the consolidated income statement that is consistent with the nature of the hedged risk. There were €215 million of outstanding non-designated foreign currency hedges related to hedging foreign currency exposure on intercompany loans as at 31 December 2023. There were €29 million outstanding non-designated hedges as at 31 December 2022. The following table summarises the gains/(losses) recognised from non-designated derivative financial instruments in the consolidated income statement for the years presented: Non-designated hedging instruments Location – Income statement Year ended 31 December 2023 2022 2021 € million € million € million Foreign currency contracts (A) Non-operating items (5) (5) — Total (5) (5) — (A) The gain/(loss) recognised on these currency contracts is offset by the gain/(loss) recognised on the remeasurement of the underlying hedged items; therefore, there is a minimal consolidated net effect in non-operating items on the consolidated income statement. Net investment hedges The Group had no net investment hedges in place as at 31 December 2023 or 31 December 2022; however, it continues to monitor its exposure to currency exchange rates and may enter into future net investment hedges as a result of volatility in the functional currencies of certain of its subsidiaries.

Borrowings and leases

Borrowings and leases	12 Months Ended
	Dec. 31, 2023
Financial Instruments [Abstract]
Borrowings and leases	Borrowings and leases Borrowings Borrowings are initially recognised at fair value, net of issuance costs incurred. Borrowings acquired by the Group as part of the Acquisition have been recognised at fair value at the acquisition date. After initial recognition, borrowings are subsequently measured at amortised cost using the effective interest rate method. Amortisation of transaction costs, fair value adjustments made on acquisition, premiums and discounts are recognised as part of finance costs within the consolidated income statement. Leases Lease liabilities are included within borrowings in our consolidated statement of financial position. The lease liability is measured at the present value of lease payments, discounted using the Group’s incremental borrowing rate (IBR). The lease term comprises the non-cancellable period of the contract, together with periods covered by an option to extend the lease whenever the Group is reasonably certain to exercise that option and has an enforceable right to do so. Subsequently, the lease liability is measured by increasing the carrying amount to reflect interest on the lease liability and reducing it by lease payments made. Borrowings outstanding The following table summarises the carrying value of the Group’s borrowings as at the dates presented: Year ended 31 December 2023 2022 € million € million Non-current: Euro denominated bonds: €500 million 1.125% Notes 2024 — 498 €350 million 2.375% Notes 2025 349 349 €250 million 2.75% Notes 2026 (E) 245 240 €600 million 1.75% Notes 2026 (E) 588 580 €400 million 1.50% Notes 2027 (E) 381 370 €250 million 1.50% Notes 2027 258 259 €500 million 1.75% Notes 2028 (E) 478 466 €750 million 0.20% Notes 2028 745 744 €500 million 1.125% Notes 2029 496 495 €500 million 1.875% Notes 2030 (E) 482 472 €700 million 3.875% Notes 2030 (A) 694 — €500 million 0.70% Notes 2031 (E) 482 473 €800 million 0.00% Notes 2025 798 798 €700 million 0.50% Notes 2029 695 695 €1,000 million 0.875% Notes 2033 991 991 €750 million 1.50% Notes 2041 746 746 Foreign currency bonds (swapped into euro) (F) : US$650 million 0.80% Notes 2024 — 608 US$500 million 1.50% Notes 2027 451 466 Year ended 31 December 2023 2022 € million € million Australian dollar denominated bonds: A$100 million 3.50% Notes 2024 — 66 A$30 million 4.166% Notes 2025 19 21 A$20 million 4.25% Notes 2025 13 14 A$30 million 4.125% Notes 2026 19 20 A$50 million 4.155% Notes 2028 33 35 A$133 million 2.45% Notes 2029 83 86 A$50 million 4.20% Notes 2031 34 36 A$187 million 4.20% Notes 2031 128 135 A$13 million 4.20% Notes 2031 9 9 Foreign currency bonds (swapped into Australian dollar or New Zealand dollar) (F) : NOK1 billion 3.04% Notes 2028 92 99 NOK750 million 2.75% Notes 2030 68 73 US$50 million 2.6525% Notes 2030 45 47 JPY10 billion 4.15% Notes 2036 (E) 67 74 JPY12.3 billion 1.06% Notes 2037 (E) 65 71 Lease obligations 542 535 Total non-current borrowings 10,096 10,571 Year ended 31 December 2023 2022 € million € million Current: Euro denominated bonds: €500 million 1.125% Notes 2024 500 — €350 million 2.625% Notes 2023 (B) — 350 Foreign currency bonds (swapped into euro) (F) : US$650 million 0.8% Notes due 2024 588 — US$850 million 0.50% Notes due 2023 (C) — 797 Australian dollar denominated bonds: A$100 million 3.5% Notes 2024 62 — Foreign currency bonds (F) : US$25 million 4.34% Notes 2023 (D) — 24 US$25 million 4.34% Notes 2023 (D) — 24 Lease obligations 150 141 Total current borrowings 1,300 1,336 (A) In December 2023, the Group issued €700 million 3.875% Notes 2030 in connection with the proposed acquisition of CCBPI. Refer to Note 19 for further information concerning the proposed acquisition (B) In November 2023, the Group repaid on maturity the outstanding amount related to the €350 million 2.625% Notes 2023. (C) In May 2023, the Group repaid on maturity the outstanding amount related to the US$850 million 0.50% Notes due 2023. (D) In October 2023, the Group repaid on maturity the outstanding amount related to US$25 million 4.34% Notes 2023 and US$25 million 4.34% Notes 2023 assumed as part of the Acquisition. (E) Bond designated in full or partially in a fair value hedge relationship. (F) Cross currency swaps are used by the Group to swap foreign currency bonds into the required local currency. Borrowings are stated net of unamortised financing fees of €30 million and €33 million, as at 31 December 2023 and 31 December 2022, respectively. Interest expense recognised on lease liabilities totalled €17 million, €14 million and €10 million in 2023, 2022 and 2021, respectively. Credit facilities During 2023, the amount available under the Group’s multi currency credit facility was €1.80 billion. This amount is available for borrowing with a syndicate of 12 banks. This credit facility matures in 2029 and is for general corporate purposes and supporting the Group’s working capital needs. Based on information currently available, there is no indication that the financial institutions participating in this facility would be unable to fulfil their commitments to the Group as at the date of these consolidated financial statements. The Group’s current credit facility contains no financial covenants that would impact its liquidity or access to capital. As at 31 December 2023, the Group had no amounts drawn under this credit facility. Changes in liabilities arising from financing activities The following table provides a reconciliation of movements of liabilities to cash flows arising from financing activities: Current portion of borrowings Borrowings, less current portion Interest payable (B) Derivatives (assets)/ liabilities held to hedge borrowings (C) Dividend payable (B) Total € million € million € million € million € million € million As at 01 January 2021 805 6,382 57 — 2 7,246 Acquisition of API 381 1,251 — 16 — 1,648 Changes from financing cash flows Proceeds from third party borrowings, net — 4,877 — — — 4,877 Changes in short-term borrowings (A) 276 — — — — 276 Repayments on third party borrowings (950) — — — — (950) Payment of principal on lease obligations (139) — — — — (139) Interest paid (10) — (87) — — (97) Dividends paid — — — — (638) (638) Other non-cash changes Amortisation of discount, premium and issue costs — (3) — — — (3) Other non-cash movements 39 83 108 — 639 869 Movement as a result of fair value hedges 6 9 — — — 15 Changes in fair values — — — (98) — (98) Currency translation 33 100 — (28) — 105 Reclassifications 909 (909) — — — — Total changes 545 5,408 21 (110) 1 5,865 As at 31 December 2021 1,350 11,790 78 (110) 3 13,111 Changes from financing cash flows Changes in short-term borrowings (A) (285) — — — — (285) Repayments on third party borrowings (938) — — — — (938) Current portion of borrowings Borrowings, less current portion Interest payable (B) Derivatives (assets)/ liabilities held to hedge borrowings (C) Dividend payable (B) Total € million € million € million € million € million € million Payment of principal on lease obligations (153) — — — — (153) Interest paid (14) — (116) — — (130) Dividends paid — — — — (763) (763) Other financing activities (1) — — — — (1) Other non-cash changes Amortisation of discount, premium and issue costs (1) 4 — — — 3 Other non-cash movements 34 171 112 — 766 1,083 Movement as a result of fair value hedges 11 (172) — — — (161) Changes in fair values — — — 45 — 45 Currency translation — 111 — (18) (2) 91 Reclassifications 1,333 (1,333) — — — — Total changes (14) (1,219) (4) 27 1 (1,209) As at 31 December 2022 1,336 10,571 74 (83) 4 11,902 Changes from financing cash flows Proceeds from third party borrowings, net — 694 — — — 694 Repayments on third party borrowings (1,159) — — — — (1,159) Payment of principal on lease obligations (148) — — — — (148) Settlement of debt-related cross-currency swaps — — — 69 — 69 Interest paid (17) — (165) — — (182) Dividends paid — — — — (841) (841) Current portion of borrowings Borrowings, less current portion Interest payable (B) Derivatives (assets)/ liabilities held to hedge borrowings (C) Dividend payable (B) Total € million € million € million € million € million € million Other non-cash changes Amortisation of discounts, premium, issue costs and fair value adjustments — 5 — — — 5 Other non-cash movements 93 98 164 — 844 1,199 Movement as a result of fair value hedges — 40 — — — 40 Changes in fair values — — — 25 — 25 Currency translation (40) (77) — 17 (2) (102) Reclassifications 1,235 (1,235) — — — — Total changes (36) (475) (1) 111 1 (400) As at 31 December 2023 1,300 10,096 73 28 5 11,502 (A) In 2023, changes in short-term borrowings include €6,810 million of newly issued and €6,810 million of repaid EUR commercial paper. In 2022, changes in short-term borrowings included €2,464 million and €2,749 million of newly issued and repaid EUR commercial paper, respectively. (B) Interest payable and dividends payable balances are presented within the “Trade and other payables” line item in the Group’s consolidated statement of financial position. (C) Interest rate and cross currency swaps used to hedge interest rate risk and currency fluctuations of non-functional currency borrowings, refer to Note 12. Total cash outflows for leases were €165 million, €167 million and €149 million for the years ended 31 December 2023, 31 December 2022 and 31 December 2021, respectively.

Trade and other payables

Trade and other payables	12 Months Ended
	Dec. 31, 2023
Trade and other payables [abstract]
Trade and other payables	Trade and other payables Trade and other payables represent liabilities for goods and services provided to the Group prior to the end of the reporting period, which are unpaid. Trade and other payables are presented as current liabilities unless payment is not due within 12 months after the reporting period. Trade and other payables are recognised initially at fair value and subsequently measured at amortised cost using the effective interest rate method. Trade payables are non-interest bearing and are normally settled between 70 to 80 days. The Group participates in various programmes and arrangements with customers designed to increase the sale of our products. The costs of these programmes are recorded as deductions from revenue. Among the programmes are arrangements under which allowances can be earned by customers for attaining agreed upon sales levels or for participating in specific marketing programmes. When these allowances are paid in arrears, the Group accrues the estimated amount to be paid based upon historical customer experience, the programme’s contractual terms, expected customer performance and/or estimated sales volume. The costs of these off-invoice customer marketing costs totalled €5.4 billion, €5.2 billion and €4.1 billion for 2023, 2022 and 2021, respectively. The following table summarises trade and other payables as at the dates presented: Year ended 31 December 2023 2022 € million € million Trade accounts payable (A) 2,306 2,221 Accrued customer marketing costs 1,340 1,348 Accrued deposits 338 288 Accrued compensation and benefits 532 500 Accrued taxes (B) 280 253 Other accrued expenses 438 442 Total trade and other payables 5,234 5,052 (A) Includes amounts of €622 million (2022: €212 million) which are part of a supply chain finance programme facilitated by the Group. The programme permits suppliers to elect on an invoice by invoice basis to receive a discounted payment from the partner bank earlier than the agreed payment terms with the Group. If a supplier makes this election, the value and the due date of the invoice payable by the Group remains unchanged.

Post-employment benefits

Post-employment benefits	12 Months Ended
	Dec. 31, 2023
Employee Benefits [Abstract]
Post-employment benefits	Post-employment benefits The cost of providing benefits is determined using the projected unit credit method, with actuarial valuations being carried out at the end of each annual reporting period. All remeasurements of the defined benefit obligation, such as actuarial gains and losses and return on plan assets, are recognised directly in other comprehensive income. Remeasurements recognised in other comprehensive income are reflected immediately in retained earnings and are not reclassified to profit or loss. Service cost is presented within cost of sales, selling and distribution expenses and administrative expenses in the consolidated income statement. Past service cost is recognised immediately within cost of sales, selling and distribution expenses, and administrative expenses in the consolidated income statement. The net interest cost is calculated by applying the discount rate to the net balance of the defined benefit obligation and the fair value of plan assets. Net interest cost is presented within finance costs or finance income, as applicable, in the consolidated income statement. The defined benefit obligation recognised in the consolidated statement of financial position represents the present value of the estimated future cash outflows, using interest rates of high quality corporate bonds which have terms to maturity approximating the terms of the related liability. The Group recognises termination benefits at the earlier of the following dates: (1) when the Group can no longer withdraw the offer of those benefits; and (2) when the Group recognises costs for restructuring that are within the scope of IAS 37, “Provisions, Contingent Liabilities and Contingent Assets” and involves the payment of termination benefits. In the case of an offer made to encourage voluntary redundancy, the termination benefits are measured based on the number of employees expected to accept the offer. Termination benefits are payable whenever an employee’s employment is terminated before the normal retirement date or whenever an employee accepts voluntary redundancy in exchange for those benefits. The following table summarises our non-current employee benefit liabilities as at the dates presented: Year ended 31 December 2023 2022 GB Rest of world Total GB Rest of world Total € million € million € million € million € million € million Retirement benefit obligation 77 81 158 — 77 77 Other employee benefit liabilities — 33 33 — 31 31 Total non-current employee benefit liabilities 77 114 191 — 108 108 Defined benefit plans The Group sponsors a number of defined benefit pension plans in Belgium, France, Germany, Great Britain, Luxembourg, Norway, Australia and Indonesia. The majority of the defined benefit plans are either career average, final salary or hybrid plans, and operate on a funded basis with assets held in external funds. The Group’s Great Britain plan (GB Scheme) is the most significant. The GB Scheme’s defined benefit obligation includes benefits for current employees, former employees and current pensioners. The level of benefits provided (funded final salary pension) depends on the member’s length of service and salary at retirement age. Part of the pension may be exchanged for a tax free cash lump sum. The GB Scheme was closed to new members with effect from On 8 October 2020, the Group announced a proposal to close the GB Scheme to future accrual, which was implemented on 31 March 2021. The affected employees were offered to enrol in the Group’s defined contribution scheme (DC scheme). Subsequent to the implementation of the closure of the GB Scheme, the members moved from active to deferred status, with future indexation of deferred pensions before retirement measured by reference to the consumer price index (CPI). As part of its risk management strategy, in September 2023, the board of trustees entered into a buy-in agreement with Just Retirement Ltd. to acquire an insurance policy with the intent of matching a specific portion of the GB Scheme’s future cash flows arising from the accrued pension liabilities of retired members. The transaction was financed entirely using a portion of the existing plan assets, with no further funding required from the Group. On an IAS 19 “Employee Benefits” basis, the subsequent fair value of the insurance policy matches the present value of the liabilities being insured. As the purchase price of the annuity of €257 million exceeded the IAS 19 accounting value of the corresponding liabilities, an asset remeasurement loss of €26 million has been recorded in other comprehensive income. A full actuarial valuation of the GB Scheme occurs on a triennial basis by a qualified external actuary, which is used as the basis of determining the Group’s future contributions to the plan. The latest triennial valuation was carried out as at 5 April 2022 and has been updated to 31 December 2023 to reflect our defined benefit obligation, for known events and changes in market conditions as allowed under IAS 19. Risks The Group’s defined benefit pension schemes expose the Group to a number of risks, including: • Asset volatility: the plan liabilities are calculated using a discount rate set with reference to corporate bond yields; if assets underperformed this yield, a deficit would occur. Some of our plans hold a significant proportion of growth assets (equities and property) which, though expected to outperform corporate bonds in the long term, create volatility and risk in the short term. The allocation to growth assets is monitored to ensure it remains appropriate given each scheme’s long-term objectives. • Changes in bond yields – a decrease in corporate bond yields will increase the defined benefit liability, although this will be partially offset by an increase in the value of the plan’s bond holdings. • Inflation risk: a significant proportion of our benefit obligations are linked to inflation, and higher inflation will lead to higher liabilities (although, in most cases, caps on the level of inflationary increases are in place to protect against extreme inflation). The majority of the assets are either unaffected by or only loosely correlated with inflation, meaning that an increase in inflation will also increase the deficit. • Life expectancy: the majority of our plans have an obligation to provide benefits for the life of the member, so increases in life expectancy will result in an increase in the defined benefit liabilities. Benefit costs The following table summarises the expense related to pension plans recognised in the consolidated income statement for the years presented: Year ended 31 December 2023 2022 2021 GB Rest of world Total GB Rest of world Total GB Rest of world Total € million € million € million € million € million € million € million € million € million Service cost — 14 14 — 18 18 10 16 26 Past service (A) — (7) (7) — (2) (2) (29) 6 (23) Net interest (1) (1) (2) (2) 1 (1) 1 1 2 Administrative expenses — 1 1 — 1 1 1 1 2 Total cost (1) 7 6 (2) 18 16 (17) 24 7 (A) The current year activity is predominantly comprised of the impact of a plan amendment arising from legislative changes in respect of the minimum retirement age in France. Other comprehensive income The following table summarises the changes in other comprehensive income related to our pension plans for the years presented: Year ended 31 December 2023 2022 2021 GB Rest of world Total GB Rest of world Total GB Rest of world Total € million € million € million € million € million € million € million € million € million Actuarial loss/(gain) on defined benefit obligation arising during the period 39 32 71 (712) (125) (837) (60) (6) (66) Return on plan assets less/(greater) than discount rate 65 (28) 37 808 74 882 (177) (58) (235) Net charge to other comprehensive income 104 4 108 96 (51) 45 (237) (64) (301) Benefit obligation and fair value of plan assets The following tables summarise the changes in the pension plan benefit obligation and the fair value of plan assets for the periods presented: Year ended 31 December 2023 2022 GB Rest of world Total GB Rest of world Total € million € million € million € million € million € million Reconciliation of benefit obligation: Benefit obligation at beginning 937 529 1,466 1,739 674 2,413 Service cost — 14 14 — 18 18 Past service (credit)/cost — (7) (7) — (2) (2) Interest costs on defined benefit obligation 45 15 60 32 7 39 Plan participants contribution — 36 36 — 28 28 Actuarial loss/(gain) – experience 21 9 30 26 7 33 Actuarial (gain)/loss – demographic assumptions (13) — (13) 2 — 2 Actuarial loss/(gain) – financial assumptions 31 23 54 (740) (132) (872) Benefit payments (33) (70) (103) (57) (72) (129) Administrative expenses — 1 1 — 1 1 Currency translation adjustments 20 (2) 18 (65) — (65) Benefit obligation at end of plan year 1,008 548 1,556 937 529 1,466 Year ended 31 December 2023 2022 GB Rest of world Total GB Rest of world Total € million € million € million € million € million € million Reconciliation of fair value Fair value of plan assets at beginning of plan year 952 572 1,524 1,840 664 2,504 Interest income on plan assets 46 16 62 34 6 40 Return on plan assets (less)/greater than discount rate (65) 28 (37) (808) (74) (882) Plan participants contributions — 36 36 — 28 28 Employer contributions 11 21 32 11 21 32 Benefit payments (33) (70) (103) (57) (72) (129) Currency translation adjustment 20 (2) 18 (68) (1) (69) Fair value of plan assets at end 931 601 1,532 952 572 1,524 Timing of benefit payments The weighted average duration of the defined benefit plan obligation as at 31 December 2023 is 15 years, including 16 years for the GB Scheme. The weighted average duration of the defined benefit plan obligation as at 31 December 2022 was 16 years, including 17 years for the GB Scheme. Retirement benefit status The following table summarises the retirement benefit status of pension plans as at the dates presented: Year ended 31 December 2023 2022 GB Rest of world Total GB Rest of world Total € million € million € million € million € million € million Net benefit status: Present value of obligation (1,008) (548) (1,556) (937) (529) (1,466) Fair value of assets 931 601 1,532 952 572 1,524 Net benefit status: (77) 53 (24) 15 43 58 Retirement benefit surplus (Note 25) — 134 134 15 120 135 Retirement benefit obligation (77) (81) (158) — (77) (77) The surplus for 2023 is primarily related to the defined benefit plans in Germany and Belgium. The surplus is recognised on the balance sheet on the basis that the Group is entitled to a refund of any remaining assets once all members have left the plan. Actuarial assumptions The following tables summarise the weighted average actuarial assumptions used to determine the benefit obligations of pension plans as at the dates presented: Year ended 31 December 2023 2022 GB Rest of world Average GB Rest of world Average Financial assumptions % % % % % % Discount rate 4.5 3.6 4.2 4.8 4.0 4.5 Rate of compensation increase N/A 3.6 3.6 N/A 3.6 3.6 Rate of price inflation 3.1 2.3 2.9 3.3 2.4 3.0 Year ended 31 December 2023 2022 Demographic assumptions (A) GB Rest of world Average GB Rest of world Average Retiring at the end Male 21.4 19.8 21.0 21.9 19.8 21.3 Female 23.9 23.2 23.7 24.4 23.1 24.0 Retiring 15 years after the end Male 22.3 20.0 21.7 22.8 20.0 22.1 Female 25.0 23.5 24.6 25.5 23.5 24.9 (A) These assumptions translate into an average life expectancy in years, post-retirement, for an employee retiring at age 65. The following tables summarise the sensitivity of the defined benefit obligation to changes in the weighted average principal assumptions for the periods presented: Year ended 31 December 2023 Change in assumption Impact on defined benefit obligation (%) Increase in assumption Decrease in assumption Principal assumptions GB Rest of world Average GB Rest of world Average Discount rate 0.5 % (7.3) (4.1) (6.2) 7.9 4.4 6.7 Rate of compensation increase (A) 0.5 % N/A 1.6 0.5 N/A (1.4) (0.5) Rate of price inflation 0.5 % 4.6 3.2 4.1 (4.5) (3.0) (4.0) Mortality rates 1 year 2.3 1.7 2.1 (2.5) (1.8) (2.2) Year ended 31 December 2022 Change in assumption Impact on defined benefit obligation (%) Increase in assumption Decrease in assumption Principal assumptions GB Rest of world Average GB Rest of world Average Discount rate 0.5 % (7.9) (4.0) (6.5) 8.6 4.4 7.1 Rate of compensation increase (A) 0.5 % N/A 1.6 0.6 N/A (1.4) (0.5) Rate of price inflation 0.5 % 3.9 3.1 3.6 (3.8) (2.9) (3.4) Mortality rates 1 year 3.0 1.7 2.5 (2.8) (1.7) (2.4) (A) The compensation increase assumption is no longer applicable to the valuation of the defined benefit obligation associated with the GB Scheme in light of the plan closure effective 31 March 2021. The sensitivity analyses have been determined based on a method that extrapolates the impact on the defined benefit obligation as a result of reasonable changes in key assumptions occurring at the end of the reporting period. The sensitivity analyses are based on a change in a significant assumption, keeping all other assumptions constant. The sensitivity analyses may not be representative of an actual change in the defined benefit obligation, as it is unlikely that changes in assumptions would occur in isolation from one another. Pension plan assets There are formal investment policies for the assets associated with our pension plans. Policy objectives include: (1) maximising long-term return at acceptable risk levels; (2) diversifying among asset classes, if appropriate, and among investment managers; and (3) establishing relevant risk parameters within each asset class. Investment policies reflect the unique circumstances of the respective plans and include requirements designed to mitigate risk, including quality and diversification standards. Asset allocation targets are based on periodic asset liability and/or risk budgeting study results, which help determine the appropriate investment strategies for acceptable risk levels. The investment policies permit variances from the targets within certain parameters. The following table summarises pension plan assets measured at fair value as at the dates presented: Year ended 31 December 2023 Year ended 31 December 2022 Total Investments quoted in active markets Unquoted investments Total Investments quoted in active markets Unquoted investments GB Rest of world GB Rest of world GB Rest of world GB Rest of world € million € million € million € million € million € million € million € million € million € million Equity securities (A) 154 — 154 — — 185 — 185 — — Fixed income securities: (B) Corporate bonds and notes 211 117 94 — — 56 — 56 — — Government bonds (C) 335 770 41 (476) — 692 1,131 28 (467) — Cash and other short-term investments (D) 25 19 6 — — 28 23 5 — — Other investments: Real estate funds (E) 255 21 26 208 — 274 43 15 216 — Insurance contracts (F) 463 — — 260 203 207 — — — 207 Investment funds (G) 77 — — — 77 76 — 5 — 71 Derivatives (H) 12 7 — 5 — 6 5 — 1 — Total 1,532 934 321 (3) 280 1,524 1,202 294 (250) 278 (A) Equity securities are comprised of ordinary shares and investments in equity funds. Investments in ordinary shares are valued using quoted market prices multiplied by the number of shares owned. Investments in equity funds are valued at the net asset value per share, which is calculated predominantly based on the underlying quoted investments market price, multiplied by the number of shares held as of the measurement date. (B) The fair values of the fixed income securities are determined based on quoted market prices in active markets. Bonds are held mainly in the currency of the geography of the plan. (C) The unquoted amounts within this category relate to repurchase agreements (where the Scheme has sold government bonds with the agreement to repurchase at a fixed date and price). The commitment to repurchase the government bonds reduces the pension assets and is reflected at fair value based on the repurchase price. The assets sold are reported at their fair value, reflecting that the Scheme retains the risks and rewards of ownership of those assets. The asset portfolio of the GB Scheme was refined during 2022 by entering into repurchase agreement of government bonds in order to better match the Scheme liability and to offset the exposure to interests and inflation rates, while remaining invested in the assets of similar risk profile. (D) Cash and other short-term investments are valued at €1.00/unit, which approximates fair value. Amounts are generally invested in cash or interest bearing accounts. (E) The valuation of unquoted real estate funds is based on net assets value per share multiplied by the number of shares owned. For quoted real estate funds, the calculation is based on the underlying quoted investments market price, multiplied by the number of shares held as of the measurement date. (F) Insurance contracts exactly match the amount and timing of certain benefits and therefore the fair value of these insurance policies is deemed to be the present value of the related obligations. (G) Primarily includes investments in equity securities, fixed income securities and combinations of both. Fair values are sourced from broker quotes. (H) The unquoted amounts within derivatives primarily relate to total return swaps, which represent the current value of future cash flows arising from the swap determined using discounted cash flow models and market data at the reporting date. Contributions To support a long-term funding arrangement, during 2019 the Group entered into a partnership agreement with the GB Scheme and the CCEP Scottish Limited Partnership (the Partnership). Certain property assets in Great Britain, with a market value of £171 million, were transferred into the Partnership and subsequently leased back to the Group’s operating subsidiary in Great Britain. The GB Scheme receives semi-annual distributions from the Partnership, increasing each year at a fixed cumulative rate of 3% through to 2034. The Group exercises control over the Partnership, and as such, it is fully consolidated in these consolidated financial statements. Under IAS 19, the investment held by the GB Scheme in the Partnership does not represent a plan asset for the purposes of these consolidated financial statements. Similarly, the associated liability is not included in the consolidated statement of financial position; rather, the distributions are recognised when paid as a contribution to the plan assets of the scheme. Contributions to pension plans totalled €32 million, €32 million and €39 million during the years ended 31 December 2023, 31 December 2022 and 31 December 2021, respectively. Included within the 2023 contribution is €11 million relating to the Partnership agreement. The Group expects to make contributions of €31 million for the full year ending 31 December 2024. Other employee benefit liabilities In certain territories, the Group has an early retirement programme designed to create an incentive for employees, within a certain age group, to transition from (full or part time) employment into retirement before their legal retirement age. Furthermore, the Group also sponsors deferred compensation plans in other territories. The current portion of these liabilities totalled €8 million and €8 million as at 31 December 2023 and 31 December 2022, respectively, and is included within the current portion of employee benefit liabilities. The non-current portion of these liabilities totalled €33 million and €31 million as at 31 December 2023 and 31 December 2022, respectively, and is included within employee benefit liabilities. Defined contribution plans

Equity

Equity	12 Months Ended
	Dec. 31, 2023
Equity [abstract]
Equity	Equity Share capital As at 31 December 2023, the Company has issued and fully paid 459,200,818 Shares. Shares in issue have one voting right each and no restrictions related to dividends or return of capital. Number of Shares Share capital millions € million As at 1 January 2021 455 5 Issuances of Shares 1 — Cancellation of Shares — — As at 31 December 2021 456 5 Issuance of Shares 1 — Cancellation of Shares — — As at 31 December 2022 457 5 Issuance of Shares 2 — Cancellation of Shares — — As at 31 December 2023 459 5 The number of Shares increased in 2023, 2022 and 2021 from the issue of 2,094,365, 871,421 and 1,589,522 Shares, respectively, following the exercise of share-based payment awards. Share premium The share premium account increased by cash received for the exercise of options by €42 million in 2023, €14 million in 2022 and €28 million in 2021. Merger reserves The consideration transferred to acquire CCIP and CCEG qualified for merger relief under the Companies Act. As such, the excess consideration transferred over nominal value of €287 million was required to be excluded from the share premium account and recorded to merger reserves. Other reserves The following table summarises the balances in other reserves (net of tax) as at the dates presented: Year ended 31 December 2023 2022 2021 € million € million € million Cash flow hedge reserve 31 104 151 Net investment hedge reserve 197 197 197 Foreign currency translation adjustment reserve (974) (728) (509) Reserve related to the acquisition of non-controlling interests (79) (79) — Other reserves (A) 2 (1) 5 Total other reserves (823) (507) (156) (A) Other reserves relate to cost of hedging which represents forward point on spot designations, time value of options and currency basis. Movements, including the tax effects, in these accounts through to 31 December 2023 are included in the consolidated statement of comprehensive income or directly within the consolidated statement of changes in equity. Dividends Dividends are recorded within the Group’s consolidated financial statements in the period in which they are paid. Year ended 31 December 2023 2022 2021 € million € million € million First half dividend (A) 308 256 — Second half dividend (B) 533 507 638 Total dividend on ordinary shares paid 841 763 638 (A) Dividend of €0.67 per Share was paid in first half of 2023. Dividend of €0.56 per Share was paid in first half of 2022. (B) Dividend of €1.17 per Share was paid in second half of 2023. Dividend of €1.12 per Share was paid in second half of 2022. A full year dividend of €1.40 per Share was paid in 2021. Dividends attributable to restricted stock units and performance share units that are unvested at the period end date are accrued accordingly. During 2023, an incremental dividend accrual of €3 million has been recognised (2022: €3 million, 2021: €1 million). Non-controlling interest As at 31 December 2023, 31 December 2022 and 31 December 2021, equity attributable to non-controlling interest was nil, nil and €177 million, respectively. In December 2022, the Group entered into a share purchase agreement (SPA) with TCCC to acquire the remaining 29.4% ownership interest of its subsidiary, PT Coca-Cola Bottling Indonesia, for a total consideration of €282 million. The acquisition completed in the first quarter of 2023, following the resolution of customary conditions (refer to Note 19). As at 31 December 2022, the non-controlling interest was derecognised. As at 31 December 2021, equity attributable to non-controlling interest was €177 million, representing 29.4% of PT Coca-Cola Bottling Indonesia, held by TCCC and 6.1% of Samoa Breweries Limited held by numerous investors.

Total operating costs

Total operating costs	12 Months Ended
	Dec. 31, 2023
Analysis of income and expense [abstract]
Total operating costs	Total operating costs The following tables summarise the significant cost items by nature within operating costs for the years presented: Year ended 31 December 2023 2022 2021 € million € million € million Transportation costs (A) 958 851 631 Employee benefits 1,116 1,110 975 Depreciation of property, plant and equipment, excluding restructuring 236 246 245 Amortisation of intangible assets 6 7 4 Restructuring charges, including accelerated depreciation (B) — 1 45 Other selling and distribution expenses 862 769 596 Total selling and distribution expenses 3,178 2,984 2,496 Transportation costs (A) 3 16 2 Employee benefits 608 544 462 Depreciation of property, plant and equipment, excluding restructuring 93 99 76 Amortisation of intangible assets 130 94 83 Acquisition related costs 12 3 49 Restructuring charges, including accelerated depreciation (B) 85 143 91 Other administrative expenses 379 351 311 Total administrative expenses 1,310 1,250 1,074 Total operating expenses 4,488 4,234 3,570 (A) Transportation costs include warehousing and delivery costs to the final customer destination. They exclude depreciation and amortisation. (B) See restructuring costs table. Year ended 31 December 2023 2022 2021 Restructuring costs € million € million € million Increase in provision for restructuring programmes (Note 22) 78 115 93 Amount of provision unused (Note 22) (10) (8) (13) Accelerated depreciation and non-cash costs 11 44 60 Other cash costs (A) 15 12 13 Total restructuring costs 94 163 153 Restructuring costs by function: Cost of sales 9 19 17 Selling and distribution expenses — 1 45 Administrative expenses 85 143 91 (A) Other cash costs primarily relate to professional fees, which include consultancy costs, legal fees and other costs directly associated with restructuring. Restructuring costs charged in arriving at operating profit for the years presented include restructuring costs arising under the following programmes and initiatives. Accelerate competitiveness In October 2020, the Group announced a number of proposals aimed at improving productivity through the use of technology enabled solutions. Included in these proposals was the closure of certain production facilities, including Liederbach and Sodenthaler in Germany and Malaga in Iberia. These proposals continue the focus on network optimisation and site rationalisation of the Group, with the majority of the impacted activities to be transferred within our network of facilities in each respective territory. The proposals are also expected to impact a number of functions across the Group, including business process technology, customer service, sales and marketing, and finance, as the Group seeks to reduce complexity, improve efficiency and increase the use of technology. In 2023, as part of the continuation of this program, the Group announced additional restructuring proposals. These initiatives resulted in €7 million of restructuring charges primarily related to severance costs. As at 31 December 2023, the programme is substantially complete. In November 2022, the Group announced a new efficiency programme to be delivered by the end of 2028. This programme focusses on further supply chain efficiencies, leveraging global procurement and a more integrated shared service centre model, all enabled by next generation technology including digital tools and data and analytics. In 2023, as part of this efficiency programme, the Group announced restructuring proposals resulting in €82 million of recognised costs primarily related to expected severance payments. Staff costs Staff costs included within the income statement were as follows: Year ended 31 December 2023 2022 2021 Employee costs € million € million € million Wages and salaries 1,841 1,769 1,544 Social security costs 339 316 302 Pension and other employee benefits 253 233 170 Total employee costs 2,433 2,318 2,016 Directors’ remuneration information is disclosed in the Directors’ remuneration report. The average number of persons employed by the Group (including Directors) for the periods presented were as follows: 2023 2022 2021 No. in thousands No. in thousands No. in thousands Commercial 11.6 12.5 10.9 Supply chain 17.1 16.6 14.9 Support functions 4.1 4.0 3.9 Total average staff employed 32.8 33.1 29.7 Auditor’s remuneration Audit and other fees charged in the income statement concerning the statutory auditor of the consolidated financial statements, Ernst & Young LLP, were as follows: Year ended 31 December 2023 2022 2021 € thousand € thousand € thousand Audit of Parent Company and consolidated financial statements (A) 3,759 3,136 4,751 Audit of the Company’s subsidiaries 6,269 6,248 5,493 Total audit 10,028 9,384 10,244 Audit-related assurance services (B) 1,019 1,002 1,234 Other assurance services 717 213 313 Total audit and audit-related assurance services 11,764 10,599 11,791 All other services (C) 36 47 35 Total non-audit or non-audit-related assurance services 36 47 35 Total audit and all other fees 11,800 10,646 11,826 (A) Fees in respect of the audit of the accounts of the Company, including the Group's consolidated financial statements. (B) Includes professional fees for interim reviews, reporting on internal financial controls, services related to the transactions entered into with TCCC, issuance of comfort letters for debt issuances, regulatory inspections, certain accounting consultations and other attested engagements. (C) Represents fees for all other allowable services.

Finance costs

Finance costs	12 Months Ended
	Dec. 31, 2023
Borrowing costs [abstract]
Finance costs	Finance costs Finance costs are recognised in the consolidated income statement in the period in which they are incurred, with the exception of general and specific borrowing costs directly attributable to the acquisition, construction or production of qualifying assets. Qualifying assets are assets that necessarily take a substantial period of time to get ready for their intended use or sale. Borrowing costs are added to the cost of those assets, until such time as the assets are substantially ready for their intended use or sale. All other borrowing costs are recognised within the consolidated income statement in the period in which they are incurred based upon the effective interest rate method. Interest income is recognised using the effective interest rate method. The following table summarises net finance costs for the years presented: Year ended 31 December 2023 2022 2021 € million € million € million Interest income (A) 65 67 43 Interest expense on external debt (A) (162) (162) (153) Other finance costs (B) (23) (19) (19) Total finance costs, net (120) (114) (129) (A) Includes interest income and expense amounts, as applicable, on cross currency swaps and interest rate swaps. Cross currency swap and interest rate swap income totalled €47 million, €50 million and €27 million in 2023, 2022 and 2021, respectively. Cross currency swap and interest rate swap expense totalled €67 million, €31 million and €14 million in 2023, 2022 and 2021, respectively. Refer to Note 12 for further details. (B) Other finance costs principally includes amortisation of the discount on external debt and interest on leases.

Related party transactions

Related party transactions	12 Months Ended
	Dec. 31, 2023
Related Party [Abstract]
Related party transactions	Related party transactions For the purpose of these consolidated financial statements, transactions with related parties mainly comprise transactions between subsidiaries of the Group and the related parties of the Group. Transactions with entities with significant influence over the Group Transactions with TCCC TCCC exerts significant influence over the Group, as defined by IAS 24 “Related Party Disclosures”. As at 31 December 2023, 19.20% 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 make, sell and distribute products of TCCC within the Group’s territories. The Group purchases concentrate from TCCC and also receives marketing funding to help promote the sale of TCCC products. The Group’s agreements with TCCC in each territory are for 10-year terms and each contains the right for the Group to request a 10-year renewal. The existing bottling agreements expire no earlier than 1 September 2025. Additionally, two of the Group’s seventeen Directors are nominated by TCCC. The Group and TCCC engage in a variety of marketing programmes to promote the sale of TCCC products in territories in which the Group operates. The Group and TCCC operate under an incidence based concentrate pricing model and funding programme across most territories, the terms of which are tied to the bottling agreements. In certain API territories, the Group operates under a fixed price model with marketing rebates and support. TCCC makes discretionary marketing contributions under shared marketing agreements to CCEP’s operating subsidiaries. Amounts to be paid to the Group by TCCC under the programmes are generally determined annually and are periodically reassessed as the programmes progress. Under the bottling agreements, TCCC is under no obligation to participate in the programmes or continue past levels of funding in the future. The amounts paid and terms of similar programmes with other franchises may differ. Marketing support funding programmes granted to the Group provide financial support principally based on product sales or on the completion of stated requirements and are intended to offset a portion of the costs of the programmes. Payments from TCCC for marketing programmes to promote the sale of products are classified as a reduction in cost of sales, unless the presumption that the payment is a reduction in the price of the franchisors’ products can be overcome. Payments for marketing programmes are recognised as product is sold. The following table summarises the transactions with TCCC that directly impacted the consolidated income statement for the years presented: Year ended 31 December 2023 2022 2021 € million € million € million Amounts affecting revenue (A) 140 117 50 Amounts affecting cost of sales (B) (3,964) (3,805) (3,056) Amounts affecting operating expenses (C) 25 19 9 Amounts affecting finance costs, net (D) 4 — — Total net amount affecting the consolidated income statement (3,795) (3,669) (2,997) (A) Amounts principally relate to fountain syrup and packaged product sales. (B) Amounts principally relate to the purchase of concentrate, syrup, mineral water and juice, as well as funding for marketing programmes. (C) Amounts principally relate to certain costs associated with new product development initiatives and reimbursement of certain marketing expenses . (D) Amounts relate to bank fees recharges for bank guarantees. The following table summarises the transactions with TCCC that impacted the consolidated statement of financial position for the periods presented: Year ended 31 December 2023 2022 € million € million Amounts due from TCCC 101 130 Amounts payable to TCCC 229 442 In December 2022, the Group entered into a share purchase agreement (SPA) with TCCC to acquire the remaining 29.4% ownership interest of its subsidiary, PT Coca-Cola Bottling Indonesia, for a total consideration of €282 million. As at 31 December 2022, we recognised a redemption liability equalling the consideration amount, which was reflected within the amounts payable to related parties line of our consolidated statement of financial position. The acquisition completed on 15 February 2023, following the resolution of customary conditions. In February 2022, the Group entered into asset sale arrangements with TCCC, pursuant to which the Group agreed to sell certain non-alcoholic ready to drink beverage brands predominantly available in Australia and New Zealand, which were acquired as part of the business combination transaction consummated on 10 May 2021, for a total consideration approximating €182 million. The sale price approximated the fair value of the brands assessed at the acquisition date. During the first half of 2022, the Group partially completed the asset sale transaction and classified the remaining brands as assets held for sale in our consolidated statement of financial position as at 31 December 2022. The remaining portion of the asset sale transaction was finalised during the first half of 2023. The Group has also entered into commercial agreements with TCCC to facilitate ongoing manufacturing, distributing and/or selling activities pertaining to these brands. Terms and conditions of transactions with TCCC Outstanding balances on transactions with TCCC are unsecured, interest free and generally settled in cash. Receivables from TCCC are considered to be fully recoverable. Proposed acquisition of Coca-Cola Beverages Philippines, Inc. (CCBPI) In November 2023, the Group together with Aboitiz Equity Ventures Inc. (AEV) entered into a definitive agreement with The Coca-Cola Company (TCCC) to jointly acquire 100% of CCBPI, a wholly owned subsidiary of TCCC, for an estimated total consideration of US$1.8 billion on a debt-free, cash-free basis. The proposed acquisition reflects a 60:40 ownership structure between CCEP and AEV. The parties also agreed that if any currently unforeseen events lead AEV to terminate its participation in the proposed acquisition, at the election of TCCC, CCEP may acquire 60% or 100% of CCBPI. The transaction, which is subject to a number of customary closing conditions, including the receipt of regulatory approval, is expected to complete during the first quarter of 2024 (refer to Note 27 for further details). Transactions with Cobega companies Cobega, S.A. (Cobega) exhibits significant influence over the Group, as defined by IAS 24, “Related Party Disclosures”. As at 31 December 2023, 20.80% of the total outstanding Shares in the Group were indirectly owned by Cobega through its ownership interest in Olive Partners, S.A. Additionally, five of the Group’s seventeen Directors, including the Chairman, are nominated by Olive Partners, three of whom are affiliated with Cobega. The principal transactions with Cobega are for the purchase of packaging materials and maintenance services for vending machines. The following table summarises the transactions with Cobega that directly impacted the consolidated income statement for the years presented: Year ended 31 December 2023 2022 2021 € million € million € million Amounts affecting revenue (A) 1 2 1 Amounts affecting cost of sales (B) (69) (76) (49) Amounts affecting operating expenses (C) (18) (17) (11) Total net amount affecting the consolidated income statement (86) (91) (59) (A) Amounts principally relate to packaged product sales. (B) Amounts principally relate to the purchase of packaging materials and concentrate. (C) Amounts principally relate to maintenance and repair services and transportation. The following table summarises the transactions with Cobega that impacted the consolidated statement of financial position for the periods presented: Year ended 31 December 2023 2022 € million € million Amounts due from Cobega 16 3 Amounts payable to Cobega 22 24 Terms and conditions of transactions with Cobega Outstanding balances on transactions with Cobega are unsecured, interest free and generally settled in cash. Receivables from Cobega are considered to be fully recoverable. Other related parties Transactions with associates, joint ventures and other related parties Joint venture investments relate to interests in a service provider supporting the operation of container refund schemes in certain Australian states, a PET recycling plant in Indonesia and a manufacturer of alcoholic beverages (divested during the first half of 2022). Associate investments relate to interests in deposit scheme coordinators and a holding company of container deposit schemes in certain Australian states and territories. Associate investments also include the Group’s equity interests in early stage development companies as part of CCEP Ventures. Other related parties include coordinators of container deposit schemes in certain Australian states over which significant influence is held. The following table summarises the transactions with associates, joint ventures and other related parties: Year ended 31 December 2023 2022 2021 € million € million € million Net amounts affecting consolidated income statement – associates (A) (68) (73) (49) Net amounts affecting consolidated income statement – joint ventures (B) (28) (9) (9) Net amounts affecting consolidated income statement – other related parties (A) (85) (85) (52) Total net amount affecting the consolidated income statement (181) (167) (110) (A) Amounts principally relate to container deposit scheme charges in Australia. (B) Amounts principally relate to the purchase of certain raw materials. The following table summarises the balances with associates, joint ventures and other related parties: Year ended 31 December 2023 2022 € million € million Amounts due from associates 6 6 Amounts payable to associates 2 9 Amounts payable to joint ventures 7 — Amounts payable to other related parties 10 10 Terms and conditions of transactions with associates, joint ventures and other related parties Outstanding balances on transactions are unsecured, interest free and generally settled in cash. Receivables are considered to be fully recoverable. Refer to Note 28 for a listing of associates, joint ventures and other related parties. Transactions with key management personnel Key management personnel are the members of the Board of Directors and the members of the Executive Leadership Team. The following table summarises the total remuneration paid or accrued during the reporting period related to key management personnel: Year ended 31 December 2023 2022 2021 € million € million € million Salaries and other short-term employee benefits (A) 31 30 22 Share-based payments 20 15 7 Total 51 45 29 (A) Short-term employee benefits include wages, salaries and social security contributions, paid annual leave and paid sick leave, paid bonuses and non-monetary benefits. The Group did not have any loans with key management personnel and was not party to any other transactions with key management personnel during the periods presented.

Income taxes

Income taxes	12 Months Ended
	Dec. 31, 2023
Income Tax [Abstract]
Income taxes	Income taxes Current tax Current tax for the period includes amounts expected to be payable on taxable income in the period together with any adjustments to taxes payable in respect of previous periods, and is determined based on the tax laws enacted or substantively enacted at the balance sheet date in the countries where the Group operates and generates taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulations are subject to interpretation and establishes provisions, where appropriate, on the basis of amounts expected to be paid to the tax authorities . Deferred tax Deferred tax is determined by identifying the temporary differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date. Deferred tax for the period includes origination and reversal of temporary differences, remeasurements of deferred tax balances and adjustments in respect of prior periods. Deferred tax liabilities are recognised for all taxable temporary differences, except: • When the deferred tax liability arises from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss, unless it gives rise to equal taxable and deductible temporary differences; or • In respect of taxable temporary differences associated with investments in subsidiaries, branches and associates, and interests in joint ventures, when the timing of the reversal of the temporary differences can be controlled by the Group and it is probable that the temporary differences will not reverse in the foreseeable future. Deferred tax assets are recognised for all deductible temporary differences, carry forward of unused tax credits and unused tax losses, to the extent that it is probable that taxable profit will be available against which the deductible temporary differences and the carry forward of unused tax credits and unused tax losses can be utilised, except: • When the deferred tax asset relating to the deductible temporary difference arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss, unless it gives rise to equal taxable and deductible temporary differences; or • In respect of deductible temporary differences associated with investments in subsidiaries, branches and associates, and interests in joint ventures, deferred tax assets are recognised only to the extent that it is probable that the temporary differences will reverse in the foreseeable future and taxable profit will be available against which the temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilised. Unrecognised deferred tax assets are reassessed at each reporting date and are recognised to the extent that it has become probable that future taxable profits will allow the deferred tax asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when the asset is realised or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date. Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off current tax assets against current income tax liabilities and the deferred taxes relate to the same taxation authority on either the same taxable entity or different taxable entities where there is an intention to settle the balances on a net basis. Income tax is recognised in the consolidated income statement. Income tax is recognised in other comprehensive income or directly in equity to the extent that it relates to items recognised in other comprehensive income or in equity. 2023, 2022 and 2021 results The following table summarises the major components of income tax expense for the periods presented: Year ended 31 December 2023 2022 2021 € million € million € million Current tax: Current tax charge 555 460 323 Adjustment in respect of current tax from prior periods (10) (37) (53) Total current tax 545 423 270 Deferred tax: Relating to the origination and reversal of temporary differences 11 35 6 Adjustment in respect of deferred income tax from prior periods (22) (22) (9) Relating to changes in tax rates or the imposition of new taxes — — 127 Total deferred tax (11) 13 124 Income tax charge per the consolidated income statement 534 436 394 The following table summarises the taxes on items recognised in other comprehensive income (OCI) and directly within equity for the periods presented: Year ended 31 December 2023 2022 2021 € million € million € million Taxes charged/(credited) to OCI: Deferred tax on net gain/loss on revaluation of cash flow hedges 11 (20) 63 Deferred tax on net gain/loss on pension plan remeasurements (43) (11) 63 Current tax on net gain/loss on pension plan remeasurements 8 — 1 Total taxes charged/(credited) to OCI (24) (31) 127 Taxes charged/(credited) to equity: Deferred tax charge/(credit): cash flow hedges (31) — — Deferred tax charge/(credit): share-based compensation (1) (2) (3) Current tax charge/(credit): share-based compensation — (8) — Total taxes charged/(credited) to equity (32) (10) (3) The effective tax rate was 24.2%, 22.3% and 28.5% for the years ended 31 December 2023, 31 December 2022 and 31 December 2021, respectively. The Parent Company of the Group is a UK company. Accordingly, the following tables provide reconciliations of the Group’s income tax expense at the UK statutory tax rate to the actual income tax expense for the periods presented: Year ended 31 December 2023 2022 2021 € million € million € million Accounting profit before tax from continuing operations 2,203 1,957 1,382 Tax expense at the UK statutory rate 518 371 262 Taxation of foreign operations, net (A) 43 115 72 Non-deductible expense items for tax purposes 15 2 2 Rate and law change impact, net (B)(C)(D) — — 127 Deferred taxes not recognised (10) 7 (7) Adjustment in respect of prior periods (E) (32) (59) (62) Total provision for income taxes 534 436 394 (A) This reflects the impact, net of income tax contingencies, of having operations outside the UK, which are taxed at rates other than the statutory UK rate of 23.5% (2022: 19%, 2021: 19%). (B) In 2021, the UK enacted a law change that increased its tax rate to 25% with effect from 1 April 2023. The Group recognised a deferred tax expense of €123 million to reflect the impact of this change. (C) In 2021, the Netherlands enacted a law change that increased its tax rate to 25.8% with effect from 1 January 2022. The Group recognised a deferred tax expense of €2 million to reflect the impact of this change. (D) In 2021, Indonesia enacted a law change that retained its tax rate of 22% with effect from 1 January 2022, reversing a previously enacted decrease to 20%. The Group recognised a deferred tax expense of €2 million to reflect the impact of this change. (E) The prior year adjustment is principally due to the release of tax reserves that are no longer required and tax audit settlements. Deferred income taxes The following table summarises the movements in the carrying amounts of deferred tax liabilities and assets by significant component during the periods presented: Franchise and other intangible assets Property, plant Financial assets and liabilities Tax Employee and retiree Tax Other, Total, € million € million € million € million € million € million € million € million As at 31 December 2021 3,285 251 36 (14) (14) (12) 25 3,557 Amount charged/(credited) to income statement (4) (11) 5 7 5 — 11 13 Amounts charged/(credited) directly to OCI — — (20) — (11) — — (31) Amount charged/(credited) to equity — — — — (2) — — (2) Acquired through business combinations (4) 2 — — — — — (2) Balance sheet reclassifications (1) (2) (1) (4) — — 4 (4) Effect of movements in foreign exchange (22) (4) (3) — (1) — (9) (39) As at 31 December 2022 3,254 236 17 (11) (23) (12) 31 3,492 Amount charged/(credited) to income statement (14) 2 11 — (15) (12) 17 (11) Amounts charged/(credited) directly to OCI — — 11 — (43) — — (32) Amount charged/(credited) to equity — — (31) — (1) — — (32) Balance sheet reclassifications — 10 — — — — (10) — Effect of movements in foreign exchange (49) — — — 2 — 7 (40) As at 31 December 2023 3,191 248 8 (11) (80) (24) 45 3,377 Analysed as follows: As at 31 December 2022 As at 31 December 2023 Deferred tax asset (21) (1) Deferred tax liability 3,513 3,378 Unrecognised tax items The utilisation of tax losses and temporary differences carried forward, for which no deferred tax asset is currently recognised, is subject to the resolution of tax authority enquiries and the achievement of positive income in periods which are beyond the Group’s current business plan, and therefore this utilisation is uncertain. The gross and tax effected amounts including expiry dates, where applicable, of unrecognised losses, tax credits and deductible temporary differences available for carry forward are as follows: Year ended 31 December 2023 2022 2021 € million € million € million Gross amount Tax effected Gross amount Tax effected Gross amount Tax effected Tax losses expiring: Beyond 10 years 3 1 3 1 — — No time limit 1,391 264 1,657 288 1,803 310 1,394 265 1,660 289 1,803 310 Tax credits expiring: Within 10 years 57 57 58 58 100 100 Beyond 10 years 35 35 43 43 45 45 92 92 101 101 145 145 Deductible temporary differences No time limit 17 4 79 20 53 11 17 4 79 20 53 11 Total 1,503 361 1,840 410 2,001 466 As at 31 December 2023, no deferred tax liability has been recognised in respect of €244 million (2022: €309 million) of unremitted earnings in subsidiaries, associates and joint ventures. Tax provisions The Group is routinely under audit by tax 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 these tax matters that it believes appropriately reflect its risk. As at 31 December 2023, €175 million (31 December 2022: €122 million) of these provisions is included in current tax liabilities and the remainder is included in non-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. When an uncertain tax liability is regarded as probable, it is measured on the basis of the Group’s best estimate. 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. Global minimum top-up tax On 11 July 2023, the Finance (No.2) Act 2023 was enacted in the United Kingdom, introducing a global minimum effective tax rate of 15%. The legislation implements a domestic top-up tax and a multinational top-up tax effective for accounting periods starting on or after 31 December 2023. The Group expects to be subject to the top-up tax in relation to its operations in a few countries. However, since the newly enacted tax legislation in the United Kingdom is only effective from 1 January 2024, there is no current tax impact for the year ended 31 December 2023. The Group has applied a temporary mandatory relief from recognising and disclosing information about deferred tax assets and liabilities in relation to top-up tax and accounts for it as a current tax when it is incurred . If the top-up tax had applied in 2023, the additional tax expense relating to the Group’s operations for the year ended 31 December 2023 would be immaterial.

Share-based payment plans

Share-based payment plans	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangements [Abstract]
Share-based payment plans	Share-based payment plans The Group has an established Share options plan and a Long-Term Incentive Plan (LTIP) for certain executive and management level employees that provide for granting restricted stock units, some with performance and/or market conditions. These awards are designed to align the interests of executives and management with the interests of shareholders. During 2022, the Group launched a new global Employee Share Purchase Plan (ESPP), which gives employees the opportunity to purchase CCEP Shares on a regular basis and become a shareholder, promoting an ownership culture. Under the ESPP, participating employees are granted matching Shares when certain vesting and non-vesting conditions are met. The Group recognises compensation expense equal to the grant date fair During the years ended 31 December 2023, 31 December 2022 and 31 December 2021, compensation expense related to our share-based payment plans totalled €57 million, €33 million and €17 million, respectively. The expense arising from equity-settled share-based payment transactions was €54 million Share options Share options: (1) are granted with exercise prices equal to or greater than the fair value of the Group’s stock on the date of grant, (2) generally vest in three annual tranches over a period of 36 months, and (3) expire 10 years from the date of grant. Generally, when options are exercised, new Shares will be issued rather than issuing treasury Shares, if available. No options were granted during the years ended 31 December 2023, 31 December 2022 and 31 December 2021. All options outstanding as at 31 December 2023, 31 December 2022 and 31 December 2021 were valued and had exercise prices in US dollars. The following table summarises our share option activity for the periods presented: 2023 2022 2021 Shares Average exercise price Shares Average exercise price Shares Average exercise price thousands US$ thousands US$ thousands US$ Outstanding at beginning of year 2,272 35.30 2,758 34.19 4,051 31.68 Granted — — — — — — Exercised (1,352) 33.86 (484) 29.00 (1,290) 26.33 Forfeited, expired or cancelled — — (2) 23.21 (3) 19.68 Outstanding at end of year 920 37.42 2,272 35.30 2,758 34.19 Options exercisable at end of year 920 37.42 2,272 35.30 2,758 34.19 The weighted average Share price during the years ended 31 December 2023, 31 December 2022 and 31 December 2021 was US$60.96, US$51.21 and US$55.68, respectively. The following table summarises the weighted average remaining life of options outstanding for the periods presented: 2023 2022 2021 Range of exercise prices Options Weighted Options Weighted Options Weighted US$ thousands years thousands years thousands years 15.01 to 25.00 — 0 — 0 151 0.85 25.01 to 40.00 920 1.60 2,272 2.20 2,607 3.04 Total 920 1.60 2,272 2.20 2,758 2.92 Restricted Stock Units (RSUs) and Performance Share Units (PSUs) RSU awards entitle the participant to accrue dividends, which are paid in cash only if the RSUs vest. They do not have voting rights. Upon vesting, the participant is granted one Share for each RSU. They generally vest subject to continued employment for a period of 36 months. Unvested RSUs are restricted as to disposition and subject to forfeiture. There were 0.1 million, 0.1 million and 0.1 million unvested RSUs outstanding with a weighted average grant date fair value of US$50.67, US$42.74 and US$43.29 as at 31 December 2023, 31 December 2022 and 31 December 2021, respectively. PSU awards entitle the participant to the same benefits as RSUs. They generally vest subject to continued employment for a period of 36 months and the attainment of certain performance targets. There were 2.1 million, 1.8 million and 1.3 million of unvested PSUs, with weighted average grant date fair values of US$48.95, US$41.65 and US$43.07 outstanding as at 31 December 2023, 31 December 2022 and 31 December 2021, respectively. The PSUs granted in 2023, 2022 and 2021 are subject to performance conditions of absolute EPS and ROIC, each with a 42.5% weighting, and to a sustainability metric, focused on the reduction of greenhouse gas emissions (CO 2 e) across our entire value chain with a 15% weighting. Key assumptions for grant date fair value The following table summarises the weighted average grant date fair values Restricted stock units and performance share units 2023 2022 Grant date fair value – service conditions (US$) 59.21 45.43 Grant date fair value – service and performance conditions (US$) 59.23 45.44 Employee Share Purchase Plan Through the ESPP, employees are able to contribute on a regular basis up to including dividend rights and voting rights. During the years ended 31 December 2023 and 31 December 2022, the Group recognised a compensation expense related to the ESPP of €14 million and €3 million, respectively .

Provisions, contingencies and c

Provisions, contingencies and commitments	12 Months Ended
	Dec. 31, 2023
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract]
Provisions, contingencies and commitments	Provisions, contingencies and commitments Provisions are recognised when the Group has a present obligation (legal or constructive) as a result of a past event, it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation and a reliable estimate can be made of the amount of the obligation. When some or all of a provision is expected to be reimbursed, the reimbursement is recognised as a separate asset, but only when the reimbursement is virtually certain. The expense relating to a provision is presented in the consolidated income statement, net of any reimbursement. Asset retirement obligations are estimated at the inception of a lease or contract, for which a liability is recognised. A corresponding asset is also created and depreciated. If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost. Provisions The following table summarises the movement in each class of provision for the periods presented: Restructuring provision Decommissioning provision Other provisions (A) Total € million € million € million € million As at 31 December 2021 103 20 11 134 Charged/(credited) to profit or loss: Additional provisions recognised 115 7 2 124 Unused amounts reversed (8) (2) (3) (13) Utilised during the period (74) (1) (1) (76) Translation 1 — — 1 As at 31 December 2022 137 24 9 170 Charged/(credited) to profit or loss: Additional provisions recognised 78 1 24 103 Unused amounts reversed (10) (9) (1) (20) Utilised during the period (89) (1) (4) (94) Translation — — — — As at 31 December 2023 116 15 28 159 Non-current 26 15 4 45 Current 90 — 24 114 As at 31 December 2023 116 15 28 159 (A) Other provisions primarily relate to property tax assessment provisions and legal reserves, and are not considered material to the consolidated financial statements. Restructuring provision Restructuring provisions are recognised only when the Group has a constructive obligation, which is when a detailed formal plan identifies the business or part of the business concerned, the location and number of employees affected, a detailed estimate of the associated costs and an appropriate timeline, and the employees affected have been notified of the plan’s main features. These provisions are expected to be resolved by the time the related programme is substantively complete. Refer to Note 17 for further details regarding our restructuring programmes. Decommissioning provisions Decommissioning liabilities relate to contractual or legal obligations to pay for asset retirement costs. The liabilities represent both the reinstatement obligations when the Group is contractually obligated to pay for the cost of retiring leased buildings and the costs for collection, treatment, reuse, recovery and environmentally sound disposal of cold drink equipment. Specific to cold drink equipment obligations, the Group is subject to, and operates in accordance with, the EU Directive on Waste from Electrical and Electronic Equipment (WEEE). Under the WEEE, companies that put electrical and electronic equipment (such as cold drink equipment) on the EU market are responsible for the costs of collection, treatment, recovery and disposal of their own products. Where applicable, the WEEE provision estimate is calculated using assumptions, including disposal cost per unit, average equipment age and the inflation rate, to determine the appropriate accrual amount. The period over which the decommissioning liabilities on leased buildings and cold drink equipment will be settled ranges from 1 to 30 years and 2 to 9 years, respectively. Contingencies Legal proceedings and tax matters The Group is involved in various legal proceedings and tax matters and is routinely under audit by tax authorities in the ordinary course of business. Due to their nature, such legal 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 loss for such contingencies is assessed and accrued as a liability and/or disclosed, as appropriate. Guarantees In connection with ongoing litigation and tax matters in certain territories, guarantees of approximately €1,127 million have been issued (2022: €646 million). The Group was required to issue these guarantees to satisfy potential obligations arising from such litigation. In addition, we have approximately €37 million of guarantees issued to third parties through the normal course of business Commitments Commitments beyond 31 December 2023 are disclosed herein but not accrued for within the consolidated statement of financial position. Purchase agreements Total purchase commitments were €0.2 billion as at 31 December 2023. This amount represents non-cancellable purchase agreements with various suppliers that are enforceable and legally binding, and that specify a fixed or minimum quantity that we must purchase. All purchases made under these agreements have standard quality and performance criteria. In addition to these amounts, the Group has outstanding capital expenditure purchase orders of approximately €165 million as at 31 December 2023. The Group also has other purchase orders raised in the ordinary course of business, which are settled in a reasonably short period of time. Lease agreements As at 31 December 2023, the Group had committed to a number of lease agreements that have not yet commenced. The minimum lease payments for these lease agreements totalled €23 million. Proposed Acquisition of Coca-Cola Beverages Philippines, Inc. (CCBPI) In November 2023, the Group together with Aboitiz Equity Ventures Inc. (AEV) entered into a definitive agreement with The Coca-Cola Company (TCCC) to jointly acquire 100% of Coca-Cola Beverages Philippines, Inc. (CCBPI) (refer to Note 19 and Note 27 for further details).

Other Income

Other Income	12 Months Ended
	Dec. 31, 2023
Analysis of income and expense [abstract]
Other Income	Other income Other income for the year ended 31 December 2023 totalled €107 million (31 December 2022: €96 million, 31 December 2021: nil). The balance is primarily attributable to the following activities. The Group recognised €18 million of royalty income arising from the ownership of mineral rights in Queensland, Australia (2022: €96 million). On 7 March 2023, the Group entered into an agreement to sell the sub-strata and associated mineral rights. Upon regulatory approval, the transaction was consummated in April 2023. The total consideration approximated €35 million. The Group recognised a gain of €54 million related to the sales of properties, mainly attributable to the sale of property in Germany completed on 7 July 2023.

Other current assets and assets

Other current assets and assets held for sale	12 Months Ended
	Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract]
Other current assets and assets held for sale	Other current assets and assets held for sale Other current assets The following table summarises the Group’s other current assets as at the dates presented: Year ended 31 December 2023 2022 Other current assets € million € million Prepayments 130 180 VAT receivables 40 41 Coal royalties (A) — 96 Miscellaneous receivables 181 162 Total other current assets 351 479 (A) As at 31 December 2022, the amount related to the royalty income recognised in connection with a favourable court ruling pertaining to the ownership of certain mineral rights in Australia. Refer to Note 23 for further detail. VAT receivables In 2014, a dispute arose between the Spanish tax authorities and the regional tax authorities of Bizkaia (Basque Region) as to the responsibility for refunding VAT to CCEP. Pertaining to the VAT assessment for years 2013 to 2016, the Group recognised a VAT receivable of €214 million within other non-current assets, for the year ended 31 December 2021. During 2022, the Group received €252 million, inclusive of interest, from the regional tax authorities of Bizkaia following the Arbitration Board ruling and recognised an additional VAT receivable of €25 million from the Basque Region within Other current assets, and a payable of €57 million to the Spanish tax authorities within Trade and other payables, both inclusive of interest. As at 31 December 2023, the VAT receivable balance of €25 million remains unchanged, while the VAT payable balance increased to €59 million resulting from interests. The classification of both balances remains unchanged. Related to the same dispute between the Spanish tax authorities and the regional tax authorities of Bizkaia (Basque Region), on 8 February 2023 the Group received a proposed VAT assessment for years 2017 to 2019, approximating €250 million, inclusive of interest. For the period under the proposed assessment, the VAT refund was issued by the Spanish tax authorities. We believe that the Group will continue to be held neutral in respect of the VAT dispute. Assets held for sale Non-current assets, or disposal groups comprising assets and liabilities, are classified as held for sale if it is highly probable that they would be recovered through sale rather than continuous use. In order for a sale to be considered highly probable, all of the following criteria needs to be met: management is committed to a plan to sell the assets, an active programme to locate a buyer and complete the plan has been initiated, the assets are actively marketed at a reasonable price, and the sale is expected to be completed within one year from the date of classification. Such assets, or disposal groups, are generally measured at the lower of their carrying amount and fair value less cost to sale. Once classified as held for sale, intangible assets and property, plant and equipment are no longer amortised or depreciated, and any equity accounted investee is no longer equity accounted. A ssets classified as held for sale as at 31 December 2023 totalled €22 million and are comprised of properties expected to be sold in the near future. Assets classified as held for sale as at 31 December 2022 totalled €94 million Other non-current assets The following table summarises the Group’s other non-current assets as at the dates presented: Year ended 31 December 2023 2022 Other non-current assets € million € million Retirement benefit surplus (Note 15) 134 135 Investments 39 35 Other 122 82 Total other non-current assets 295 252 Investments Joint ventures are undertakings in which the Group has an interest and which are jointly controlled by the Group and one or more other parties. Associates are undertakings where the Group has an investment in which it does not have control or joint control but can exercise significant influence. Interests in joint ventures and associates are accounted for using the equity method and are stated in the consolidated balance sheet at cost, adjusted for the movement in the Group’s share of their net assets and liabilities. The Group’s share of the profit or loss after tax of joint ventures and associates is included in the Group’s consolidated income statement as non-operating items. Where the Group’s share of losses exceeds its interest in the equity accounted investee, the carrying amount of the investment is reduced to zero and the recognition of further losses is discontinued, except to the extent that the Group has an obligation to make payments on behalf of the investee. Financial assets at fair value through other comprehensive income relate to equity investments. These investments are not held for trading purposes, and hence the Group has opted to recognise fair value movements through other comprehensive income. There have been no significant changes in fair value of these investments during the period. The following table summarises the Group’s carrying value of investments as at the dates presented: Year ended 31 December 2023 2022 Investments € million € million Investments accounted using equity method 35 33 Financial assets at fair value through other comprehensive income 4 2 Total investments 39 35

Other current assets

Other current assets	12 Months Ended
	Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract]
Other current assets and assets held for sale	Other current assets and assets held for sale Other current assets The following table summarises the Group’s other current assets as at the dates presented: Year ended 31 December 2023 2022 Other current assets € million € million Prepayments 130 180 VAT receivables 40 41 Coal royalties (A) — 96 Miscellaneous receivables 181 162 Total other current assets 351 479 (A) As at 31 December 2022, the amount related to the royalty income recognised in connection with a favourable court ruling pertaining to the ownership of certain mineral rights in Australia. Refer to Note 23 for further detail. VAT receivables In 2014, a dispute arose between the Spanish tax authorities and the regional tax authorities of Bizkaia (Basque Region) as to the responsibility for refunding VAT to CCEP. Pertaining to the VAT assessment for years 2013 to 2016, the Group recognised a VAT receivable of €214 million within other non-current assets, for the year ended 31 December 2021. During 2022, the Group received €252 million, inclusive of interest, from the regional tax authorities of Bizkaia following the Arbitration Board ruling and recognised an additional VAT receivable of €25 million from the Basque Region within Other current assets, and a payable of €57 million to the Spanish tax authorities within Trade and other payables, both inclusive of interest. As at 31 December 2023, the VAT receivable balance of €25 million remains unchanged, while the VAT payable balance increased to €59 million resulting from interests. The classification of both balances remains unchanged. Related to the same dispute between the Spanish tax authorities and the regional tax authorities of Bizkaia (Basque Region), on 8 February 2023 the Group received a proposed VAT assessment for years 2017 to 2019, approximating €250 million, inclusive of interest. For the period under the proposed assessment, the VAT refund was issued by the Spanish tax authorities. We believe that the Group will continue to be held neutral in respect of the VAT dispute. Assets held for sale Non-current assets, or disposal groups comprising assets and liabilities, are classified as held for sale if it is highly probable that they would be recovered through sale rather than continuous use. In order for a sale to be considered highly probable, all of the following criteria needs to be met: management is committed to a plan to sell the assets, an active programme to locate a buyer and complete the plan has been initiated, the assets are actively marketed at a reasonable price, and the sale is expected to be completed within one year from the date of classification. Such assets, or disposal groups, are generally measured at the lower of their carrying amount and fair value less cost to sale. Once classified as held for sale, intangible assets and property, plant and equipment are no longer amortised or depreciated, and any equity accounted investee is no longer equity accounted. A ssets classified as held for sale as at 31 December 2023 totalled €22 million and are comprised of properties expected to be sold in the near future. Assets classified as held for sale as at 31 December 2022 totalled €94 million Other non-current assets The following table summarises the Group’s other non-current assets as at the dates presented: Year ended 31 December 2023 2022 Other non-current assets € million € million Retirement benefit surplus (Note 15) 134 135 Investments 39 35 Other 122 82 Total other non-current assets 295 252 Investments Joint ventures are undertakings in which the Group has an interest and which are jointly controlled by the Group and one or more other parties. Associates are undertakings where the Group has an investment in which it does not have control or joint control but can exercise significant influence. Interests in joint ventures and associates are accounted for using the equity method and are stated in the consolidated balance sheet at cost, adjusted for the movement in the Group’s share of their net assets and liabilities. The Group’s share of the profit or loss after tax of joint ventures and associates is included in the Group’s consolidated income statement as non-operating items. Where the Group’s share of losses exceeds its interest in the equity accounted investee, the carrying amount of the investment is reduced to zero and the recognition of further losses is discontinued, except to the extent that the Group has an obligation to make payments on behalf of the investee. Financial assets at fair value through other comprehensive income relate to equity investments. These investments are not held for trading purposes, and hence the Group has opted to recognise fair value movements through other comprehensive income. There have been no significant changes in fair value of these investments during the period. The following table summarises the Group’s carrying value of investments as at the dates presented: Year ended 31 December 2023 2022 Investments € million € million Investments accounted using equity method 35 33 Financial assets at fair value through other comprehensive income 4 2 Total investments 39 35

Financial risk management

Financial risk management	12 Months Ended
	Dec. 31, 2023
Financial Instruments [Abstract]
Financial risk management	Financial risk management Financial risk factors, 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 on the Group’s future cash flows. Such policies are developed and approved by the Group’s Treasury and Commodities Risk Committee, through the authority delegated to it by the Board. Market risk Market risk represents the risk that the fair value of future cash flows of a financial instrument will fluctuate due to changes in market prices and includes interest rate risk, currency risk and other price risk such as commodity price risk. Market risk affects outstanding borrowings, as well as derivative financial instruments. Interest rates The Group is subject to interest rate risk for its outstanding borrowings. To manage interest rate risk, the Group maintains a significant proportion of its borrowings at fixed rates. Approximately 89% and 90% of the Group’s interest bearing borrowings were comprised of fixed rate borrowings at 31 December 2023 and 31 December 2022, respectively. The Group also If interest rates on the Group’s floating rate debt were adjusted by 1% for the years ended 31 December 2023, 31 December 2022 and 31 December 2021, the Group’s finance costs and pre-tax equity would change on an annual basis by approximately €9 million, €9 million and €7 million, respectively. This amount is determined by calculating the effect of a hypothetical interest rate change on the Group’s floating rate debt. Currency exchange rates Foreign currency exchange risk can only arise on financial instruments that are denominated in a currency other than the functional currency in which they are measured. Translation-related risks are therefore not included in the assessment of the Group’s exposure to currency risks. Translation exposures arise from financial and non-financial items held by the Group with a functional currency different from the Group’s presentation currency (euro). To manage currency exchange risk arising from future commercial transactions and recognised monetary assets and liabilities, foreign currency forward and option contracts with external third parties are used. Typically, up to 80% of anticipated cash flow exposures in each major foreign currency for the next calendar year are hedged using a combination of forward and option contracts with third parties. The Group is also exposed to the risk of changes in currency exchange rates between US dollar and euro relating to its US denominated borrowings. This risk is managed by entering into cross currency swaps upon issuance thereby mitigating all the foreign currency risk. The Group also has borrowing denominated in Australian dollars that are not swapped into euro and are converted as part of the currency translation of the net assets of API, and, as such, movements in exchange rates would not impact profit. The Group’s main foreign currency exchange rate exposure relates to the change in value of the euro against other currencies. The impact of a reasonably probable movement such as 10% appreciation of the euro on the Group’s pre-tax equity would have led to a €6 million loss as at 31 December 2023 (31 December 2022: During 2023, the Group entered into deal contingent foreign currency forwards (refer to Note 12 for further details) in order to mitigate the foreign currency risk arising from the proposed acquisition of CCBPI. A 10% appreciation of the euro as at 31 December 2023 would have led to a €64 million loss impacting the Group’s pre-tax equity. A 10% weakening of the euro would have led to an equal but opposite effect. There would be no impact on the Group’s income statement as these instruments are designated as cash flow hedges. Movements in foreign currencies related to the Group’s other financial instruments do not have a material impact on profit before income taxes or pre-tax equity. Commodity price risk The competitive marketplace in which the Group operates may limit its ability to recover increased costs through higher prices. As such, the Group is subject to market risk with respect to commodity price fluctuations, principally related to its purchases of aluminium, PET (plastic, including recycled PET, LDPE), ethylene, sugar and vehicle fuel. When possible, exposure to this risk is managed primarily through the use of supplier pricing agreements, which enable the Group to establish the purchase price for certain commodities. Certain suppliers restrict the Group’s ability to hedge prices through supplier agreements. As a result, commodity hedging programmes are entered into and generally designated as hedging instruments. Refer to Note 12 for more information. Typically, up to 80% of the anticipated commodity transaction exposures for the next calendar year are hedged using a combination of forward and option contracts executed with third parties. During the year ended 31 December 2023, the Group implemented a new gas and power hedging programme to manage its exposure to changes in commodity prices in relation to its purchases of power and gas, by entering into financial swaps designated in a cash flow hedge relationship. As at 31 December 2023, the notional value of the swaps was €89 million and amounts of €13 million and €52 million were included in derivative assets and derivative liabilities, respectively (refer to Note 12). The following table demonstrates the sensitivity to reasonably possible changes in commodity prices at the reporting date, with all other variables held constant. The impact on the Group’s pre-tax equity is due to changes in the fair value of commodity hedges designated as cash flow hedges. There is no impact on the Group’s income statement as all commodity derivatives are designated as hedging instruments in cash flow hedges. Year ended 31 December 2023 2022 2021 Commodity price risk € million € million € million 10% increase in commodity prices equity gain 144 140 92 10% decrease in commodity prices equity loss (144) (140) (92) Credit risk The Group is exposed to counterparty credit risk on all of its derivative financial instruments. Strict counterparty credit guidelines are maintained and only financial institutions that are investment grade or better are acceptable counterparties. Counterparty credit risk is continuously monitored and numerous counterparties are used to minimise exposure to potential defaults. Where required, collateral is paid between the counterparties to minimise counterparty risk. The maximum credit risk exposure for each derivative financial instrument is the carrying amount of the derivative. Included in trade and other payables is €20 million (2022: €25 million) related to collateral received from counterparties. Credit is extended in the form of payment terms for trade to customers of the Group, consisting of retailers, wholesalers and other customers, generally without requiring collateral, based on an evaluation of the customer’s financial condition. While the Group has a concentration of credit risk in the retail sector, this risk is mitigated due to the diverse nature of the customers the Group serves, including, but not limited to, their type, geographic location, size and beverage channel. Depending on the risk profile of certain customers, we may also seek bank guarantees. Collections of receivables are dependent on each individual customer’s financial condition and sales adjustments granted. Trade accounts receivable are initially recognised at their transaction price and subsequently measured at amortised cost less provision for impairment. Typically, accounts receivable have terms of 30 to 60 days and do not bear interest. A default on a financial asset is when the counterparty fails to make contractual payments when they fall due. Exposure to losses on receivables is monitored, and balances are adjusted for expected credit losses. Expected credit losses are determined by: (1) evaluating the ageing of receivables; (2) analysing the history of adjustments; and (3) reviewing high risk customers. Credit insurance on a portion of the accounts receivable balance is also carried. Liquidity risk Liquidity risk is actively managed to ensure that the Group has sufficient funds to satisfy its commitments. The Group’s sources of capital include, but are not limited to, cash flows from operations, public and private issuances of debt and equity securities, and bank borrowings. The Group believes its operating cash flow, cash on hand and available short- and long-term capital resources are sufficient to fund its working capital requirements, scheduled borrowing payments, interest payments, capital expenditures, benefit plan contributions, income tax obligations and dividends to its shareholders. Counterparties and instruments used to hold cash and cash equivalents are continuously assessed, with a focus on preservation of capital and liquidity. Based on information currently available, the Group does not believe it is at significant risk of default by its counterparties. The Group has amounts available for borrowing under a €1.80 billion multi currency credit facility (2022: €1.95 billion) with a syndicate of 12 banks. This credit facility matures in 2029 and is for general corporate purposes, including serving as a backstop to its commercial paper programme and supporting the Group’s working capital needs. Based on information currently available, the Group has no indication that the financial institutions participating in this facility would be unable to fulfil their commitments as at the date of these financial statements. The current credit facility contains no financial covenants that would impact the Group’s liquidity or access to capital. As at 31 December 2023, the Group had no amounts drawn under this credit facility. In 2022, the Group implemented a new sustainability-linked supply chain finance programme. The facility is provided by a third party bank and will help our suppliers get paid earlier than under contractual credit terms. Supplier balances under supply chain finance facilities are disclosed in Note 14. The following table analyses the Group’s non-derivative financial liabilities and net settled derivative financial liabilities into relevant maturity groupings based on the remaining period at the statement of financial position date to the contractual maturity date. The amounts disclosed in the table are the contractual undiscounted cash flows: Total Less than 1 year 1 to 3 years 3 to 5 years More than 5 years Financial liabilities € million € million € million € million € million 31 December 2023 Trade and other payables 4,875 4,875 — — — Amounts payable to related parties 270 270 — — — Borrowings 11,803 1,322 2,325 2,681 5,475 Derivatives 268 99 42 39 88 Lease liabilities 774 159 237 141 237 Total financial liabilities 17,990 6,725 2,604 2,861 5,800 31 December 2022 Trade and other payables 4,714 4,714 — — — Amounts payable to related parties 485 485 — — — Borrowings 12,314 1,336 2,597 2,179 6,202 Derivatives 263 76 17 51 119 Lease liabilities 752 149 217 129 257 Total financial liabilities 18,528 6,760 2,831 2,359 6,578 Capital management The primary objective of the Group’s capital management is to ensure a strong credit rating and appropriate capital ratios are maintained to support the Group’s business and maximise shareholder value. The Group’s credit ratings are periodically reviewed by rating agencies. Currently, the Group’s long-term ratings from Moody’s and Fitch are Baa1 and BBB+, respectively. Changes in the operating results, cash flows or financial position could impact the ratings assigned by the various rating agencies. The credit rating can be materially influenced by a number of factors including, but not limited to, acquisitions, investment decisions, capital management activities of TCCC and/or changes in the credit rating of TCCC. Should the credit ratings be adjusted downwards, the Group may incur higher costs to borrow, which could have a material impact on the financial condition and results of operations. The capital structure is managed and, as appropriate, adjustments are made in light of changes in economic conditions and the Group’s financial policy. The Group monitors its operating performance in the context of targeted financial leverage by comparing the ratio of net debt with comparable EBITDA. Net debt is calculated as borrowings adjusted for the fair value of hedging instruments and other financial assets/liabilities related to borrowings, net of cash and cash equivalents and short term investments. Comparable EBITDA is calculated as EBITDA and adjusted for items impacting comparability. Refer to Note 11 for the presentation of fair values for each class of financial assets and financial liabilities and Note 12 for an outline of how the Group utilises derivative financial instruments to mitigate its exposure to certain market risks associated with its ongoing operations. Refer to the Strategic Report included within this Integrated Report for disclosure of strategic, commercial and operational risk relevant to the Group.

Significant events after the re

Significant events after the reporting period	12 Months Ended
	Dec. 31, 2023
Events After Reporting Period [Abstract]
Significant events after the reporting period	Significant events after the reporting period On 14 February 2024, in connection with the acquisition of Coca-Cola Beverages Philippines, Inc. CCBPI, the Group entered into a term loan facility agreement with the Bank of the Philippine Islands. A term loan facility in an aggregate amount of US$500 million is made available under the agreement to be utilised in Philippine Peso (PHP), which has been defined as the base currency. On 20 February 2024, the Group drew down a PHP23.5 billion (US$420 million) loan under the facility with a maturity date of 20 February 2034. The vast majority of the balance (90% of the total principal amount of the loan) is repayable in full upon maturity. On 23 February 2024, the joint acquisition of Coca-Cola Beverages Philippines, Inc. CCBPI was successfully consummated for a total consideration of US$1.68 billion (€1.55 billion), all of which was settled in cash upon completion. The Group paid US$1.0 billion (€930 million) of the total consideration, commensurate with the effective 60:40 ownership structure of CCBPI. The transaction is going to be accounted for under IFRS 3 “Business Combinations”, using the acquisition method of accounting. The Group has commenced the purchase price allocation procedures related to the assets acquired and liabilities assumed, which as of the date of this filing remain incomplete.

Group companies

Group companies	12 Months Ended
	Dec. 31, 2023
Interest In Other Entities [Abstract]
Group companies	Group companies In accordance with section 409 of the Companies Act 2006, a full list of the Company’s subsidiaries, partnerships, associates, joint ventures and joint arrangements as at 31 December 2023 is disclosed below, along with the country of incorporation, the registered address and the effective percentage of equity owned at that date. Unless otherwise stated, each entity has a share capital comprising a single class of ordinary shares and is wholly owned and indirectly held by CCEP. Name Country of incorporation % equity interest Registered address Agua De La Vega Del Codorno, S.L.U. Spain 100% C/ Ribera Del Loira 20-22, 2a Planta, 28042, Madrid, Spain Aguas De Cospeito, S.L.U. Spain 100% Crta. Pino km. 1 - 2, 27377, Cospeito (Lugo), Spain Aguas De Santolin, S.L.U. Spain 100% C/ Real, s/n 09246, Quintanaurria, Burgos, Spain Aguas Del Maestrazgo, S.L.U. Spain 100% C/ Ribera Del Loira 20-22, 2a Planta, 28042, Madrid, Spain Aguas Del Toscal, S.A.U. Spain 100% Ctra. de la Pasadilla, km, 3-35250, ingenio (Gran Canaria), Spain Aguas Vilas Del Turbon, S.L.U. Spain 100% C/ Ribera Del Loira 20-22, 2a Planta, 28042, Madrid, Spain Aitonomi AG Switzerland 15% Bruderhausstrasse 10, CH-6372 Ennetmoos, Switzerland Amalgamated Beverages Great Britain Limited United Kingdom 100% (D) Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom Apand Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Associated Products & Distribution Proprietary Australia 100% (O) Level 13, 40 Mount Street, North Sydney NSW 2060, Australia BBH Investment Ireland Limited Ireland 100% 6th Floor, 2 Grand Canal Square, Dublin 2, Ireland Name Country of incorporation % equity interest Registered address Bebidas Gaseosas Del Noroeste, S.L.U. Spain 100% Avda. Alcalde Alfonso Molina, S/N-15007, (A Coruna), Spain Beganet, S.L.U. Spain 100% Avda Paisos Catalans, 32, 08950, Esplugues de Llobregat, Spain Beverage Bottlers (NQ) Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Beverage Bottlers (QLD) Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Birtingahúsið ehf. Iceland 34.5% Laugavegur 174, 105, Reykjavík, Iceland BL Bottling Holdings UK Limited United Kingdom 100% Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom BNI B.V. Netherlands 100% Marten Meesweg 25 J, 3068 AV, Rotterdam, Netherlands BNII Inc. Philippines 100% (G) V&A Law Center, 11th Ave Cor 39th St., Bonifacio Global City, Fort Bonifacio, 1634 Taguig City NCR, Fourth District, Philippines BNI (Finance) B.V. Netherlands 100% Marten Meesweg 25 J, 3068 AV, Rotterdam, Netherlands Bottling Great Britain Limited United Kingdom 100% (D) Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom Bottling Holding France SAS France 100% 9 chemin de Bretagne, 92784, Issy-les-Moulineaux, France Bottling Holdings (Luxembourg) SARL Luxembourg 100% 2, Rue des Joncs, L-1818, Howald, Luxembourg Bottling Holdings (Netherlands) B.V. Netherlands 100% Marten Meesweg 25 J, 3068 AV, Rotterdam, Netherlands Bottling Holdings Europe Limited United Kingdom 100% (B)(E) Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom Brewcorp Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Brewhouse Investments Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia C - C Bottlers Limited Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Can Recycling (S.A.) Pty. Ltd. Australia 100% (B) Level 13, 40 Mount Street, North Sydney NSW 2060, Australia CC Digital GmbH Germany 50% Stralauer Allee 4, 10245, Berlin, Germany CC Erfrischungsgetränke Oldenburg Verwaltungs GmbH Germany 100% (I) Stralauer Allee 4, 10245, Berlin, Germany CC Iberian Partners Gestion S.L. Spain 100% C/ Ribera Del Loira 20-22, 2a Planta, 28042, Madrid, Spain CC Verpackungsgesellschaft mit beschraenkter Haftung Germany 100% Schieferstrasse 20, 06126, Halle (Saale), Germany CCA Bayswater Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia CCEP Australia Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia CCEP Finance (Australia) Limited United Kingdom 100% (A) Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom CCEP Finance (Ireland) Designated Activity Company Ireland 100% 3 Dublin Landings, North Wall Quay, Dublin, D01 C4E0, Ireland CCEP Group Services Limited United Kingdom 100% Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom CCEP Holdings (Australia) Limited United Kingdom 100% (A)(D) Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom CCEP Holdings (Australia) Pty Ltd Australia 100% (A) Level 13, 40 Mount Street, North Sydney NSW 2060, Australia CCEP Holdings Norge AS Norway 100% Robsrudskogen 5, Lørenskog, 1470, Norway CCEP Holdings Sverige AB Sweden 100% Dryckesvägen 2 C, 136 87, Haninge, Sweden CCEP Holdings UK Limited United Kingdom 100% Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom Name Country of incorporation % equity interest Registered address CCEP Scottish Limited Partnership United Kingdom 100% (P) 52 Milton Road, College Milton, East Kilbride, Scotland, G74 5DJ, United Kingdom CCEP Ventures Australia Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia CCEP Ventures Europe Limited United Kingdom 100% (A) Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom CCEP Ventures UK Limited United Kingdom 100% (A) Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom CCIP Soporte, S.L.U. Spain 100% C/ Ribera Del Loira 20-22, 2a Planta, 28042, Madrid, Spain Circular Plastics Australia (PET) Holdings Pty Ltd Australia 16.67% Building 3, 658 Church Street, Cremorne VIC 3121, Australia Classic Brand (Europe) Designated Activity Company Ireland 100% Charlotte House, Charlemont Street, Saint Kevin's, Dublin, D02 NV26 Cobega Embotellador, S.L.U. Spain 100% Avda Paisos Catalans, 32, 08950, Esplugues de Llobregat, Spain Coca-Cola Europacific Partners (CDE Aust) Pty Limited Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Coca-Cola Europacific Partners (Fiji) Pte Limited Fiji 100% Lot 1, Ratu Dovi Road, Laucala Beach Estate, NASINU, Fiji Coca-Cola Europacific Partners (Holdings) Pty Limited Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Coca-Cola Europacific Partners (Initial LP) Limited United Kingdom 100% Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom Coca-Cola Europacific Partners (Scotland) Limited United Kingdom 100% 52 Milton Road, College Milton, East Kilbride, Scotland, G74 5DJ, United Kingdom Coca-Cola Europacific Partners API Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Coca-Cola Europacific Partners Australia Pty Limited Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Coca-Cola Europacific Partners Belgium SRL/BV Belgium 100% Chaussée de Mons 1424, 1070 Brussels, Belgium Coca-Cola Europacific Partners Deutschland GmbH Germany 100% (F) Stralauer Allee 4, 10245, Berlin, Germany Coca-Cola Europacific Partners France SAS France 100% (G) 9 chemin de Bretagne, 92784, Issy-les-Moulineaux, France Coca-Cola Europacific Partners Great Britain Limited United Kingdom 100% Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom Coca-Cola Europacific Partners Holdings Great Britain Limited United Kingdom 100% Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom Coca-Cola Europacific Partners Holdings NZ Limited New Zealand 100% The Oasis, 19 Carbine Road, Mount Wellington, Auckland, 1060, New Zealand Coca-Cola Europacific Partners Holdings US, Inc. United States 100% (A)(D) Corporation Trust Center, 1209 Orange Street, Wilmington DE, USA Coca-Cola Europacific Partners Iberia, S.L.U. Spain 100% C/ Ribera Del Loira 20-22, 2a Planta, 28042, Madrid, Spain Coca-Cola Europacific Partners Investments (Singapore) Pte. Ltd. Singapore 100% 80 Robinson Road, #02-00, 068898, Singapore Coca-Cola Europacific Partners Ísland ehf. Iceland 100% Studlahals 1, 110, Reykjavik, Iceland Coca-Cola Europacific Partners Luxembourg sàrl Luxembourg 100% 2, Rue des Joncs, L-1818, Howald, Luxembourg Coca-Cola Europacific Partners Nederland B.V. Netherlands 100% Marten Meesweg 25 J, 3068 AV, Rotterdam, Netherlands Coca-Cola Europacific Partners New Zealand Limited New Zealand 100% The Oasis, 19 Carbine Road, Mount Wellington, Auckland, 1060, New Zealand Coca-Cola Europacific Partners Norge AS Norway 100% Robsrudskogen 5, Lørenskog, 1470, Norway Coca-Cola Europacific Partners Papua New Guinea Limited Papua New Guinea 100% Section 23, Allotment 14, Milfordhaven Road, LAE, Morobe Province, 411, Papua New Guinea Coca-Cola Europacific Partners Pension Scheme Trustees Limited United Kingdom 100% Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom Coca-Cola Europacific Partners Portugal Unipessoal LDA Portugal 100% Quinta da Salmoura - Cabanas-2925-362 Azeitão, Setúbal, Portugal Coca-Cola Europacific Partners Services Bulgaria EOOD Bulgaria 100% 2 Donka Ushlinova Street, Garitage Park, Office Building 4, floor 6, Sofia, 1766, Bulgaria Name Country of incorporation % equity interest Registered address Coca-Cola Europacific Partners Services Europe Limited United Kingdom 100% Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom Coca-Cola Europacific Partners Services SRL Belgium 100% (N) Chaussée de Mons 1424, 1070 Brussels, Belgium Coca-Cola Europacific Partners Sverige AB Sweden 100% 136 87, Haninge, Sweden Coca-Cola Europacific Partners US, LLC United States 100% Corporation Trust Center, 1209 Orange Street, Wilmington 19801, Delaware, USA Coca-Cola Europacific Partners US II, LLC United States 100% Corporation Trust Center, 1209 Orange Street, Wilmington 19801, Delaware, USA Coca-Cola Europacific Partners Vanuatu Limited Vanuatu 100% 1st Floor, Govant Building, Kumul Highway, Port Vila, Vanuatu Coca-Cola Immobilier SCI France 100% (G) 9 chemin de Bretagne, 92784, Issy-les-Moulineaux, France Coca-Cola Production SAS France 100% Zone d' entreprises de Bergues, 59380, Commune de Socx, France Coca-Cola Australia Foundation Limited Australia —% (L) Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Compañía Asturiana De Bebidas Gaseosas, S.L.U. Spain 100% C/ Nava, 18- 3ª (Granda) Siero - 33006, Oviedo, Spain Compañía Castellana De Bebidas Gaseosas, S.L. Spain 100% C/ Ribera Del Loira 20-22, 2a Planta, 28042, (Madrid), Spain Compañía Levantina De Bebidas Gaseosas, S.L.U. Spain 100% Av. Real Monasterio de Sta., Maria de Poblet, 3646930, Quart de Poblet, Spain Compañía Norteña De Bebidas Gaseosas, S.L.U. Spain 100% C/ Ibaizábal, 57, Galdakao, 48960, Bizkaia, Spain Compañía Para La Comunicación De Bebidas Sin Alcohol, S.L.U. Spain 100% C/ Ribera Del Loira 20-22, 2a Planta, 28042, Madrid, Spain Container Exchange (QLD) Limited Australia —% (L) Level 17, 100 Creek Street, Brisbane QLD 4000, Australia Circular Economy Systems Pty Ltd Australia 50% Maddocks, Angel Place, Level 27, 123 Pitt Street, Sydney NSW 2000, Australia Crusta Fruit Juices Proprietary Limited Australia 100% (J) Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Developed System Logistics, S.L.U. Spain 100% Av. Henry Ford 25, Manzana 19, Complejo Pq.Ind.Juan, CARLOS I, 46220, Picassent, Valencia, Spain Endurvinnslan hf. Iceland 20% Knarravogur 4, 104 Reykjavik, Iceland Exchange for Change (ACT) Pty Ltd Australia 20% Building C, Suite 6, Level 1, 1 Homebush Bay Drive, Rhodes NSW 2138, Australia Exchange for Change (NSW) Pty Ltd Australia 20% Building C, Suite 6, Level 1, 1 Homebush Bay Drive, Rhodes NSW 2138, Australia Feral Brewing Company Pty Ltd Australia 100% (K) Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Foodl B.V. Netherlands 33.3% HNK Utrecht West, V.02, Weg der Verenigde Naties 1, 3527 KT, Utrecht, Netherlands GR Bottling Holdings UK Limited United Kingdom 100% (A) Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom Infineo Recyclage SAS France 49% (H) Sainte Marie la Blanche, 21200, Dijon, France Innovative Tap Solutions Inc. United States 21.8% 300 Brookside Avenue, Ambler, PA 19002, USA Instelling voor Bedrijfspensioenvoorziening Coca-Cola Europacific Partners Belgium/Coca-Cola Europacific Partners Services – Bedienden-Arbeiders OFP Belgium 100% 1424 – B1070 Bergensesteenweg, Brussels, Belgium Instelling voor Bedrijfspensioenvoorziening Coca-Cola Europacific Partners Belgium/Coca-Cola Europacific Partners Services – Kaderleden OFP Belgium 100% 1424 – B1070 Bergensesteenweg, Brussels, Belgium Ionech Limited United Kingdom 14.8% 6th Floor, Manfield House, 1 Southampton Street, London, England, WC2R 0LR Name Country of incorporation % equity interest Registered address Kollex GmbH Germany 20% Kottbusser Damm 25-26, 10967, Berlin, Germany Lavit Holdings Inc United States 13.7% 27 West 20th Street, Suite 1004, New York NY 10011, USA Lusobega, S.L. Spain 100% C/ Ibaizábal, 57, 48960, Bizkaia, Galdakao, Spain Madrid Ecoplatform, S.L.U. Spain 100% C/Pedro Lara, 8 Pq. Tecnologico de Leganes, 28919, (Leganes), Spain Mahija Parahita Nusantara Foundation Indonesia —% (L) South Quarter Tower C, 22nd (P) Floor, Jalan R.A. Kartini, Kav.8, Cilandak Barat, Cilandak, South Jakarta, 12430, Indonesia Matila Nominees Pty. Limited Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Neverfail Bottled Water Co Pty Limited Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Neverfail SA Pty. Limited Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Neverfail Springwater (VIC) Pty Limited Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Neverfail Springwater Co Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Neverfail Springwater Co. (QLD) Pty. Limited Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Neverfail Springwater Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Neverfail WA Pty. Limited Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Pacbev Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Paradise Beverages (Fiji) Pte Limited Fiji 100% 122-164 Foster Road, Walu Bay, Suva, Fiji PEÑA Umbria S.L.U. Spain 100% Av. Real Monasterio de Sta., Maria de Poblet, 3646930, Quart de Poblet, Spain Perfect Fruit Company Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia PT Amandina Bumi Nusantara Indonesia 35.31% South Quarter Tower C, 22nd (P) Floor, Jalan R.A. Kartini, Kav.8, Cilandak Barat, Cilandak, South Jakarta, 12430, Indonesia PT Coca-Cola Bottling Indonesia Indonesia 100% (C) South Quarter Tower C, 22nd (P) Floor, Jalan R.A. Kartini, Kav.8, Cilandak Barat, Cilandak, South Jakarta, 12430, Indonesia PT Coca-Cola Distribution Indonesia Indonesia 100% South Quarter Tower C, 22nd (P) Floor, Jalan R.A. Kartini, Kav.8, Cilandak Barat, Cilandak, South Jakarta, 12430, Indonesia Purna Pty. Ltd. Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Quenchy Crusta Sales Pty. Ltd. Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Real Oz Water Supply Co (QLD) Pty Limited Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Refrescos Envasados Del Sur, S.L.U. Spain 100% Autovía del Sur A-IV, km.528- 41309, La Rinconada, Sevilla, Spain Refrige SGPS, Unipessoal, LDA Portugal 100% Quinta da Salmoura - Cabanas-2925-362 Azeitão, Setúbal, Portugal Sale Proprietary Co 1 Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Sale Proprietary Co 2 Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Sale Proprietary Co 3 Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Sale Proprietary Co 4 Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Sale Proprietary Co 5 Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Name Country of incorporation % equity interest Registered address Sale Proprietary Co 6 Pty Ltd Australia 100% (D) Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Sale Proprietary Co 7 Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Samoa Breweries Limited (SBL) Samoa 100% Vaitele Industrial Zone, Vaitele Tai, Faleata Sisifo, Samoa TasRecycle Limited Australia —% (M) Level 9, 85 Macquarie Street, Hobart TAS 7000, Australia VicRecycle Limited Australia —% (M) HWL Ebsworth Lawyers, Level 8, 447 Collins Street, Melbourne VIC 3000, Australia WA Return Recycle Renew Ltd Australia —% (L) Unit 2, 1 Centro Avenue, Subiaco WA 6008, Australia Wabi Portugal, Unipessoal LDA Portugal 100% Nº 16-A, Fracçao B, 5º Piso, Edificio Miraflores Premium Distrito: Lisboa Concelho: Oieras Freguesia: Algés, Linda-a-Velha e Cruz Quebrada-Dafundo 1495 190 Algés, Portugal WB Investment Ireland 2 Limited Ireland 100% 3 Dublin Landings, North Wall Quay, Dublin, D01 C4E0, Ireland WBH Holdings Luxembourg SCS Luxembourg 100% 2, Rue des Joncs, L-1818, Howald, Luxembourg WIH UK Limited United Kingdom 100% (A) Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom Wir Sind Coca-Cola GmbH Germany 100% Stralauer Allee 4, 10245, Berlin, Germany (A) 100% equity interest directly held by Coca-Cola Europacific Partners plc. (B) Class A and B ordinary shares. (C) Series A, B, C and D shares. (D) Including preference shares issued to the Group. (E) 38.3% equity interest directly held by Coca-Cola Europacific Partners plc (100% of A ordinary shares in issue). (F) 10% equity interest directly held by Coca-Cola Europacific Partners plc. (G) Group shareholding of 99.99% or greater. (H) Class A and B shares. The Group holds 49% of Class B shares. (I) In liquidation. (J) Class A and F shares. (K) Includes ordinary shares and B Class shares. (L) Company limited by guarantee. CCEP is a member along with one other member. (M) Company limited by guarantee. CCEP is a member along with two other members. (N) Class A, B and C ordinary shares. (O) Includes redeemable preference shares and discretionary dividend shares issued to the Group. (P) Limited partnership.

Subsidiaries exempt from audit

Subsidiaries exempt from audit	12 Months Ended
	Dec. 31, 2023
Disclosure of subsidiaries [abstract]
Subsidiaries exempt from audit	Name Country of incorporation % equity interest Registered address Agua De La Vega Del Codorno, S.L.U. Spain 100% C/ Ribera Del Loira 20-22, 2a Planta, 28042, Madrid, Spain Aguas De Cospeito, S.L.U. Spain 100% Crta. Pino km. 1 - 2, 27377, Cospeito (Lugo), Spain Aguas De Santolin, S.L.U. Spain 100% C/ Real, s/n 09246, Quintanaurria, Burgos, Spain Aguas Del Maestrazgo, S.L.U. Spain 100% C/ Ribera Del Loira 20-22, 2a Planta, 28042, Madrid, Spain Aguas Del Toscal, S.A.U. Spain 100% Ctra. de la Pasadilla, km, 3-35250, ingenio (Gran Canaria), Spain Aguas Vilas Del Turbon, S.L.U. Spain 100% C/ Ribera Del Loira 20-22, 2a Planta, 28042, Madrid, Spain Aitonomi AG Switzerland 15% Bruderhausstrasse 10, CH-6372 Ennetmoos, Switzerland Amalgamated Beverages Great Britain Limited United Kingdom 100% (D) Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom Apand Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Associated Products & Distribution Proprietary Australia 100% (O) Level 13, 40 Mount Street, North Sydney NSW 2060, Australia BBH Investment Ireland Limited Ireland 100% 6th Floor, 2 Grand Canal Square, Dublin 2, Ireland Name Country of incorporation % equity interest Registered address Bebidas Gaseosas Del Noroeste, S.L.U. Spain 100% Avda. Alcalde Alfonso Molina, S/N-15007, (A Coruna), Spain Beganet, S.L.U. Spain 100% Avda Paisos Catalans, 32, 08950, Esplugues de Llobregat, Spain Beverage Bottlers (NQ) Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Beverage Bottlers (QLD) Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Birtingahúsið ehf. Iceland 34.5% Laugavegur 174, 105, Reykjavík, Iceland BL Bottling Holdings UK Limited United Kingdom 100% Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom BNI B.V. Netherlands 100% Marten Meesweg 25 J, 3068 AV, Rotterdam, Netherlands BNII Inc. Philippines 100% (G) V&A Law Center, 11th Ave Cor 39th St., Bonifacio Global City, Fort Bonifacio, 1634 Taguig City NCR, Fourth District, Philippines BNI (Finance) B.V. Netherlands 100% Marten Meesweg 25 J, 3068 AV, Rotterdam, Netherlands Bottling Great Britain Limited United Kingdom 100% (D) Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom Bottling Holding France SAS France 100% 9 chemin de Bretagne, 92784, Issy-les-Moulineaux, France Bottling Holdings (Luxembourg) SARL Luxembourg 100% 2, Rue des Joncs, L-1818, Howald, Luxembourg Bottling Holdings (Netherlands) B.V. Netherlands 100% Marten Meesweg 25 J, 3068 AV, Rotterdam, Netherlands Bottling Holdings Europe Limited United Kingdom 100% (B)(E) Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom Brewcorp Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Brewhouse Investments Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia C - C Bottlers Limited Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Can Recycling (S.A.) Pty. Ltd. Australia 100% (B) Level 13, 40 Mount Street, North Sydney NSW 2060, Australia CC Digital GmbH Germany 50% Stralauer Allee 4, 10245, Berlin, Germany CC Erfrischungsgetränke Oldenburg Verwaltungs GmbH Germany 100% (I) Stralauer Allee 4, 10245, Berlin, Germany CC Iberian Partners Gestion S.L. Spain 100% C/ Ribera Del Loira 20-22, 2a Planta, 28042, Madrid, Spain CC Verpackungsgesellschaft mit beschraenkter Haftung Germany 100% Schieferstrasse 20, 06126, Halle (Saale), Germany CCA Bayswater Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia CCEP Australia Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia CCEP Finance (Australia) Limited United Kingdom 100% (A) Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom CCEP Finance (Ireland) Designated Activity Company Ireland 100% 3 Dublin Landings, North Wall Quay, Dublin, D01 C4E0, Ireland CCEP Group Services Limited United Kingdom 100% Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom CCEP Holdings (Australia) Limited United Kingdom 100% (A)(D) Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom CCEP Holdings (Australia) Pty Ltd Australia 100% (A) Level 13, 40 Mount Street, North Sydney NSW 2060, Australia CCEP Holdings Norge AS Norway 100% Robsrudskogen 5, Lørenskog, 1470, Norway CCEP Holdings Sverige AB Sweden 100% Dryckesvägen 2 C, 136 87, Haninge, Sweden CCEP Holdings UK Limited United Kingdom 100% Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom Name Country of incorporation % equity interest Registered address CCEP Scottish Limited Partnership United Kingdom 100% (P) 52 Milton Road, College Milton, East Kilbride, Scotland, G74 5DJ, United Kingdom CCEP Ventures Australia Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia CCEP Ventures Europe Limited United Kingdom 100% (A) Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom CCEP Ventures UK Limited United Kingdom 100% (A) Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom CCIP Soporte, S.L.U. Spain 100% C/ Ribera Del Loira 20-22, 2a Planta, 28042, Madrid, Spain Circular Plastics Australia (PET) Holdings Pty Ltd Australia 16.67% Building 3, 658 Church Street, Cremorne VIC 3121, Australia Classic Brand (Europe) Designated Activity Company Ireland 100% Charlotte House, Charlemont Street, Saint Kevin's, Dublin, D02 NV26 Cobega Embotellador, S.L.U. Spain 100% Avda Paisos Catalans, 32, 08950, Esplugues de Llobregat, Spain Coca-Cola Europacific Partners (CDE Aust) Pty Limited Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Coca-Cola Europacific Partners (Fiji) Pte Limited Fiji 100% Lot 1, Ratu Dovi Road, Laucala Beach Estate, NASINU, Fiji Coca-Cola Europacific Partners (Holdings) Pty Limited Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Coca-Cola Europacific Partners (Initial LP) Limited United Kingdom 100% Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom Coca-Cola Europacific Partners (Scotland) Limited United Kingdom 100% 52 Milton Road, College Milton, East Kilbride, Scotland, G74 5DJ, United Kingdom Coca-Cola Europacific Partners API Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Coca-Cola Europacific Partners Australia Pty Limited Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Coca-Cola Europacific Partners Belgium SRL/BV Belgium 100% Chaussée de Mons 1424, 1070 Brussels, Belgium Coca-Cola Europacific Partners Deutschland GmbH Germany 100% (F) Stralauer Allee 4, 10245, Berlin, Germany Coca-Cola Europacific Partners France SAS France 100% (G) 9 chemin de Bretagne, 92784, Issy-les-Moulineaux, France Coca-Cola Europacific Partners Great Britain Limited United Kingdom 100% Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom Coca-Cola Europacific Partners Holdings Great Britain Limited United Kingdom 100% Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom Coca-Cola Europacific Partners Holdings NZ Limited New Zealand 100% The Oasis, 19 Carbine Road, Mount Wellington, Auckland, 1060, New Zealand Coca-Cola Europacific Partners Holdings US, Inc. United States 100% (A)(D) Corporation Trust Center, 1209 Orange Street, Wilmington DE, USA Coca-Cola Europacific Partners Iberia, S.L.U. Spain 100% C/ Ribera Del Loira 20-22, 2a Planta, 28042, Madrid, Spain Coca-Cola Europacific Partners Investments (Singapore) Pte. Ltd. Singapore 100% 80 Robinson Road, #02-00, 068898, Singapore Coca-Cola Europacific Partners Ísland ehf. Iceland 100% Studlahals 1, 110, Reykjavik, Iceland Coca-Cola Europacific Partners Luxembourg sàrl Luxembourg 100% 2, Rue des Joncs, L-1818, Howald, Luxembourg Coca-Cola Europacific Partners Nederland B.V. Netherlands 100% Marten Meesweg 25 J, 3068 AV, Rotterdam, Netherlands Coca-Cola Europacific Partners New Zealand Limited New Zealand 100% The Oasis, 19 Carbine Road, Mount Wellington, Auckland, 1060, New Zealand Coca-Cola Europacific Partners Norge AS Norway 100% Robsrudskogen 5, Lørenskog, 1470, Norway Coca-Cola Europacific Partners Papua New Guinea Limited Papua New Guinea 100% Section 23, Allotment 14, Milfordhaven Road, LAE, Morobe Province, 411, Papua New Guinea Coca-Cola Europacific Partners Pension Scheme Trustees Limited United Kingdom 100% Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom Coca-Cola Europacific Partners Portugal Unipessoal LDA Portugal 100% Quinta da Salmoura - Cabanas-2925-362 Azeitão, Setúbal, Portugal Coca-Cola Europacific Partners Services Bulgaria EOOD Bulgaria 100% 2 Donka Ushlinova Street, Garitage Park, Office Building 4, floor 6, Sofia, 1766, Bulgaria Name Country of incorporation % equity interest Registered address Coca-Cola Europacific Partners Services Europe Limited United Kingdom 100% Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom Coca-Cola Europacific Partners Services SRL Belgium 100% (N) Chaussée de Mons 1424, 1070 Brussels, Belgium Coca-Cola Europacific Partners Sverige AB Sweden 100% 136 87, Haninge, Sweden Coca-Cola Europacific Partners US, LLC United States 100% Corporation Trust Center, 1209 Orange Street, Wilmington 19801, Delaware, USA Coca-Cola Europacific Partners US II, LLC United States 100% Corporation Trust Center, 1209 Orange Street, Wilmington 19801, Delaware, USA Coca-Cola Europacific Partners Vanuatu Limited Vanuatu 100% 1st Floor, Govant Building, Kumul Highway, Port Vila, Vanuatu Coca-Cola Immobilier SCI France 100% (G) 9 chemin de Bretagne, 92784, Issy-les-Moulineaux, France Coca-Cola Production SAS France 100% Zone d' entreprises de Bergues, 59380, Commune de Socx, France Coca-Cola Australia Foundation Limited Australia —% (L) Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Compañía Asturiana De Bebidas Gaseosas, S.L.U. Spain 100% C/ Nava, 18- 3ª (Granda) Siero - 33006, Oviedo, Spain Compañía Castellana De Bebidas Gaseosas, S.L. Spain 100% C/ Ribera Del Loira 20-22, 2a Planta, 28042, (Madrid), Spain Compañía Levantina De Bebidas Gaseosas, S.L.U. Spain 100% Av. Real Monasterio de Sta., Maria de Poblet, 3646930, Quart de Poblet, Spain Compañía Norteña De Bebidas Gaseosas, S.L.U. Spain 100% C/ Ibaizábal, 57, Galdakao, 48960, Bizkaia, Spain Compañía Para La Comunicación De Bebidas Sin Alcohol, S.L.U. Spain 100% C/ Ribera Del Loira 20-22, 2a Planta, 28042, Madrid, Spain Container Exchange (QLD) Limited Australia —% (L) Level 17, 100 Creek Street, Brisbane QLD 4000, Australia Circular Economy Systems Pty Ltd Australia 50% Maddocks, Angel Place, Level 27, 123 Pitt Street, Sydney NSW 2000, Australia Crusta Fruit Juices Proprietary Limited Australia 100% (J) Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Developed System Logistics, S.L.U. Spain 100% Av. Henry Ford 25, Manzana 19, Complejo Pq.Ind.Juan, CARLOS I, 46220, Picassent, Valencia, Spain Endurvinnslan hf. Iceland 20% Knarravogur 4, 104 Reykjavik, Iceland Exchange for Change (ACT) Pty Ltd Australia 20% Building C, Suite 6, Level 1, 1 Homebush Bay Drive, Rhodes NSW 2138, Australia Exchange for Change (NSW) Pty Ltd Australia 20% Building C, Suite 6, Level 1, 1 Homebush Bay Drive, Rhodes NSW 2138, Australia Feral Brewing Company Pty Ltd Australia 100% (K) Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Foodl B.V. Netherlands 33.3% HNK Utrecht West, V.02, Weg der Verenigde Naties 1, 3527 KT, Utrecht, Netherlands GR Bottling Holdings UK Limited United Kingdom 100% (A) Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom Infineo Recyclage SAS France 49% (H) Sainte Marie la Blanche, 21200, Dijon, France Innovative Tap Solutions Inc. United States 21.8% 300 Brookside Avenue, Ambler, PA 19002, USA Instelling voor Bedrijfspensioenvoorziening Coca-Cola Europacific Partners Belgium/Coca-Cola Europacific Partners Services – Bedienden-Arbeiders OFP Belgium 100% 1424 – B1070 Bergensesteenweg, Brussels, Belgium Instelling voor Bedrijfspensioenvoorziening Coca-Cola Europacific Partners Belgium/Coca-Cola Europacific Partners Services – Kaderleden OFP Belgium 100% 1424 – B1070 Bergensesteenweg, Brussels, Belgium Ionech Limited United Kingdom 14.8% 6th Floor, Manfield House, 1 Southampton Street, London, England, WC2R 0LR Name Country of incorporation % equity interest Registered address Kollex GmbH Germany 20% Kottbusser Damm 25-26, 10967, Berlin, Germany Lavit Holdings Inc United States 13.7% 27 West 20th Street, Suite 1004, New York NY 10011, USA Lusobega, S.L. Spain 100% C/ Ibaizábal, 57, 48960, Bizkaia, Galdakao, Spain Madrid Ecoplatform, S.L.U. Spain 100% C/Pedro Lara, 8 Pq. Tecnologico de Leganes, 28919, (Leganes), Spain Mahija Parahita Nusantara Foundation Indonesia —% (L) South Quarter Tower C, 22nd (P) Floor, Jalan R.A. Kartini, Kav.8, Cilandak Barat, Cilandak, South Jakarta, 12430, Indonesia Matila Nominees Pty. Limited Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Neverfail Bottled Water Co Pty Limited Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Neverfail SA Pty. Limited Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Neverfail Springwater (VIC) Pty Limited Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Neverfail Springwater Co Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Neverfail Springwater Co. (QLD) Pty. Limited Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Neverfail Springwater Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Neverfail WA Pty. Limited Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Pacbev Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Paradise Beverages (Fiji) Pte Limited Fiji 100% 122-164 Foster Road, Walu Bay, Suva, Fiji PEÑA Umbria S.L.U. Spain 100% Av. Real Monasterio de Sta., Maria de Poblet, 3646930, Quart de Poblet, Spain Perfect Fruit Company Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia PT Amandina Bumi Nusantara Indonesia 35.31% South Quarter Tower C, 22nd (P) Floor, Jalan R.A. Kartini, Kav.8, Cilandak Barat, Cilandak, South Jakarta, 12430, Indonesia PT Coca-Cola Bottling Indonesia Indonesia 100% (C) South Quarter Tower C, 22nd (P) Floor, Jalan R.A. Kartini, Kav.8, Cilandak Barat, Cilandak, South Jakarta, 12430, Indonesia PT Coca-Cola Distribution Indonesia Indonesia 100% South Quarter Tower C, 22nd (P) Floor, Jalan R.A. Kartini, Kav.8, Cilandak Barat, Cilandak, South Jakarta, 12430, Indonesia Purna Pty. Ltd. Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Quenchy Crusta Sales Pty. Ltd. Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Real Oz Water Supply Co (QLD) Pty Limited Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Refrescos Envasados Del Sur, S.L.U. Spain 100% Autovía del Sur A-IV, km.528- 41309, La Rinconada, Sevilla, Spain Refrige SGPS, Unipessoal, LDA Portugal 100% Quinta da Salmoura - Cabanas-2925-362 Azeitão, Setúbal, Portugal Sale Proprietary Co 1 Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Sale Proprietary Co 2 Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Sale Proprietary Co 3 Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Sale Proprietary Co 4 Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Sale Proprietary Co 5 Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Name Country of incorporation % equity interest Registered address Sale Proprietary Co 6 Pty Ltd Australia 100% (D) Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Sale Proprietary Co 7 Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Samoa Breweries Limited (SBL) Samoa 100% Vaitele Industrial Zone, Vaitele Tai, Faleata Sisifo, Samoa TasRecycle Limited Australia —% (M) Level 9, 85 Macquarie Street, Hobart TAS 7000, Australia VicRecycle Limited Australia —% (M) HWL Ebsworth Lawyers, Level 8, 447 Collins Street, Melbourne VIC 3000, Australia WA Return Recycle Renew Ltd Australia —% (L) Unit 2, 1 Centro Avenue, Subiaco WA 6008, Australia Wabi Portugal, Unipessoal LDA Portugal 100% Nº 16-A, Fracçao B, 5º Piso, Edificio Miraflores Premium Distrito: Lisboa Concelho: Oieras Freguesia: Algés, Linda-a-Velha e Cruz Quebrada-Dafundo 1495 190 Algés, Portugal WB Investment Ireland 2 Limited Ireland 100% 3 Dublin Landings, North Wall Quay, Dublin, D01 C4E0, Ireland WBH Holdings Luxembourg SCS Luxembourg 100% 2, Rue des Joncs, L-1818, Howald, Luxembourg WIH UK Limited United Kingdom 100% (A) Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom Wir Sind Coca-Cola GmbH Germany 100% Stralauer Allee 4, 10245, Berlin, Germany (A) 100% equity interest directly held by Coca-Cola Europacific Partners plc. (B) Class A and B ordinary shares. (C) Series A, B, C and D shares. (D) Including preference shares issued to the Group. (E) 38.3% equity interest directly held by Coca-Cola Europacific Partners plc (100% of A ordinary shares in issue). (F) 10% equity interest directly held by Coca-Cola Europacific Partners plc. (G) Group shareholding of 99.99% or greater. (H) Class A and B shares. The Group holds 49% of Class B shares. (I) In liquidation. (J) Class A and F shares. (K) Includes ordinary shares and B Class shares. (L) Company limited by guarantee. CCEP is a member along with one other member. (M) Company limited by guarantee. CCEP is a member along with two other members. (N) Class A, B and C ordinary shares. (O) Includes redeemable preference shares and discretionary dividend shares issued to the Group. (P) Limited partnership. Subsidiaries exempt from audit The following UK subsidiaries will take advantage of the audit exemption set out within section 479A of the Companies Act 2006 for the year ended 31 December 2023. Name Registration number CCEP Holdings (Australia) Limited 12982568 WIH UK Limited 10140214 Amalgamated Beverages Great Britain Limited 01994995

General information and basis_2

General information and basis of preparation (Policies)	12 Months Ended
	Dec. 31, 2023
Corporate information and statement of IFRS compliance [abstract]
Basis of consolidation	Basis of consolidation The consolidated financial statements comprise the financial statements of the Group and its subsidiaries. All subsidiaries have accounting years ended 31 December and apply consistent accounting policies for the purpose of the consolidated financial statements. Subsidiary undertakings are consolidated from the date on which control is transferred to the Group and cease to be consolidated from the date on which control is transferred out of the Group. The Group controls an entity when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through the Group’s power to direct the activities of the entity. All intercompany accounts and transactions are eliminated on consolidation. Associates are all entities over which the Group has significant influence but not control, generally accompanying a shareholding of between 20% to 50% of voting rights. Investments in associates are accounted for using the equity method of accounting, after initially being recognised at cost. The Group treats transactions with non-controlling interests that do not result in a loss of control as equity transactions. When the Group loses control over a subsidiary, it derecognises the related assets (including goodwill), liabilities, non-controlling interest and any other components of equity, while any resulting gain or loss is recognised in profit or loss. Any interest retained in the former subsidiary is measured at fair value when control is lost. The financial results presented herein for the period from 1 January 2021 through to the acquisition of CCL (the Acquisition) effective 10 May 2021 refer to Coca-Cola European Partners plc (Legacy CCEP) and its consolidated subsidiaries. The periods from the Acquisition to the year ended 31 December 2023 refer to the combined financial results of CCEP.
Foreign currency	Foreign currency The individual financial statements of each subsidiary are presented in the currency of the primary economic environment in which the subsidiary operates (its functional currency). For the purpose of the consolidated financial statements, the results and financial position of each subsidiary are expressed in euros. Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are remeasured to the functional currency of the entity at the rate of exchange in effect at the statement of financial position date with the resulting gain or loss recorded in the consolidated income statement. The consolidated income statement includes non-operating items which are primarily made up of remeasurement gains and losses related to currency exchange rate fluctuations on financing transactions denominated in a currency other than the subsidiary’s functional currency. Non-operating items are shown on a net basis and reflect the impact of any derivative instruments utilised to hedge the foreign currency movements of the underlying financing transactions. The assets and liabilities of the Group's foreign operations are translated from local currencies to the euro reporting currency at exchange rates in effect at the end of each reporting period. Revenues and expenses are translated at average monthly exchange rates, with average rates being a reasonable approximation of the rates prevailing on the transaction dates. Gains and losses from translation are included in other comprehensive income. On disposal of a foreign operation, accumulated exchange differences are recognised as a component of the gain or loss on disposal.
Function currency	Foreign currency The individual financial statements of each subsidiary are presented in the currency of the primary economic environment in which the subsidiary operates (its functional currency). For the purpose of the consolidated financial statements, the results and financial position of each subsidiary are expressed in euros. Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are remeasured to the functional currency of the entity at the rate of exchange in effect at the statement of financial position date with the resulting gain or loss recorded in the consolidated income statement. The consolidated income statement includes non-operating items which are primarily made up of remeasurement gains and losses related to currency exchange rate fluctuations on financing transactions denominated in a currency other than the subsidiary’s functional currency. Non-operating items are shown on a net basis and reflect the impact of any derivative instruments utilised to hedge the foreign currency movements of the underlying financing transactions. The assets and liabilities of the Group's foreign operations are translated from local currencies to the euro reporting currency at exchange rates in effect at the end of each reporting period. Revenues and expenses are translated at average monthly exchange rates, with average rates being a reasonable approximation of the rates prevailing on the transaction dates. Gains and losses from translation are included in other comprehensive income. On disposal of a foreign operation, accumulated exchange differences are recognised as a component of the gain or loss on disposal.
Reporting periods	Reporting periods In these consolidated financial statements, the Group is reporting the financial results for the years ended 31 December 2023, 31 December 2022 and 31 December 2021.
Comparability	Comparability Sales of the Group’s products are seasonal. In Europe, the second and third quarters typically account for higher unit sales of the Group’s products than the first and fourth quarters. In the Group’s Asia Pacific territories, the fourth quarter would typically reflect higher sales volumes in the year. 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 reported results for the first and second halves 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.
IFRS 15 “Revenue recognition and deductions from revenue”	The Group derives its revenues by making, selling and distributing ready to drink beverages. The revenue from the sale of products is recognised at the point in time at which control passes to a customer, typically when products are delivered to a customer. A receivable is recognised by the Group at the point in time at which the right to consideration becomes unconditional. The Group uses various promotional programmes under which rebates, refunds, price concessions or similar items can be earned by customers for attaining agreed upon sales levels or for participating in specific marketing programmes. Those promotional programmes do not give rise to a separate performance obligation. Where the consideration the Group is entitled to varies because of such programmes, it is deemed to be variable consideration. The related accruals are recognised as a deduction from revenue and are not considered distinct from the sale of products to the customer. Variable consideration is only included to the extent that it is highly probable that the inclusion will not result in a significant revenue reversal in the future normal commercial terms. Financing elements are not deemed present in our contracts with customers, as the sales are made with credit terms not exceeding normal commercial terms. Taxes on sugared soft drinks, excise taxes and taxes on packaging are recorded on a gross basis (i.e. included in revenue) where the Group is the principal in the arrangement. Value added taxes are recorded on a net basis (i.e. excluded from revenue). The Group assesses these taxes and duties on a jurisdiction by jurisdiction basis to conclude on the appropriate accounting treatment.
New and amended standards and interpretation	New and amended standards The Group has applied the following standards and amendments for the first time in the year ended 31 December 2023. IFRS 17 “Insurance Contracts” IFRS 17 “Insurance Contracts” is a comprehensive new standard for insurance contracts covering recognition, measurement, presentation and disclosure. IFRS 17 replaces IFRS 4 “Insurance Contracts”. The overall objective of IFRS 17 is to provide a comprehensive accounting model for insurance contracts that is more useful and consistent for insurers covering all relevant accounting aspects. The new standard had no impact on the consolidated financial statements of the Group. Definition of Accounting Estimates – Amendments to IAS 8 The amendments to IAS 8 clarify the distinction between changes in accounting estimates, changes in accounting policies and corrections of errors. They also clarify how entities use measurement techniques and inputs to develop accounting estimates. These amendments had no impact on the consolidated financial statements of the Group. Disclosure of Accounting Policies – Amendments to IAS 1 and IFRS Practice Statement 2 The amendments to IAS 1 “Presentation of Financial Statements” and IFRS Practice Statement 2 “Making Materiality Judgements” provide guidance and examples to help entities apply materiality judgements to accounting policy disclosures. The amendments aim to help entities provide accounting policy disclosures that are more useful by replacing the requirement for entities to disclose their “significant” accounting policies with a requirement to disclose their “material” accounting policies and adding guidance on how entities apply the concept of materiality in making decisions concerning accounting policy disclosures. The amendments had no impact on the consolidated financial statements of the Group. Deferred Tax related to Assets and Liabilities arising from a Single Transaction – Amendments to IAS 12 The amendments to IAS 12 “Income Tax” narrow the scope of the initial recognition exception, so that it no longer applies to transactions that give rise to equal taxable and deductible temporary differences such as leases and decommissioning liabilities. The amendments had no material impact on the consolidated financial statements of the Group. International Tax Reform - Pillar Two Model Rules - Amendments to IAS 12 The Group has adopted International Tax Reform – Pillar Two Model Rules (Amendments to IAS 12) upon their release on 23 May 2023. The amendments provide a temporary mandatory exception from deferred tax accounting for the top-up tax, which is effective immediately, and require new disclosures about the Pillar Two exposure (see Note 20 for further details). The Group has not early adopted any other amendments to accounting standards that have been issued but are not yet effective. These amendments are not expected to have a material impact to the Group in the current or future periods and on foreseeable future transactions.
Significant judgements and estimates	Significant judgements and estimates In preparing these consolidated financial statements, management has made judgements and estimates that affect the application of the Group’s accounting policies and the reported amounts of assets and liabilities, income and expense. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to estimates are recognised prospectively. The significant judgements made in applying the Group’s accounting policies were applied consistently across the annual periods. The significant judgements and key sources of estimation uncertainty that have a significant effect on the amounts recognised in these financial statements are outlined below. Significant judgements Intangible assets and goodwill The Group has assigned indefinite lives to its bottling agreements with TCCC. This judgement has been made after evaluating the contractual provisions of the bottling agreements, the Group’s mutually beneficial relationship with TCCC and the history of renewals for bottling agreements. Refer to Note 6 for further details on the judgement regarding the lives of bottling agreements. Significant estimates Impairment of indefinite lived intangible assets and goodwill Determining whether goodwill and intangible assets with indefinite lives are impaired requires an estimation of the value in use or the fair value less costs to sell of the cash generating unit (CGU) to which the goodwill or intangible asset has been allocated. The value in use calculation requires management’s estimation of the future cash flows expected to arise from the CGU, including climate-related risks. Refer to Note 6 for the sensitivity analysis of the assumptions used in the impairment analysis of goodwill and intangible assets with indefinite lives. Deductions from revenue and sales incentives The Group participates in various promotional programmes with customers designed to increase the sale of products. Among the programmes are arrangements under which rebates, refunds, price concessions or similar items can be earned by customers for attaining agreed upon sales levels, or for participating in specific marketing programmes. Those promotional programmes do not give rise to a separate performance obligation. Where the consideration the Group is entitled to varies because of such programmes, the amount payable is deemed to be variable consideration. Management makes estimates on an ongoing basis for each individual promotion to assess the value of the variable consideration based upon historical customer experience, expected customer performance and/or estimated sales volumes. The related accruals are recognised as a deduction from revenue and are not considered distinct from the sale of products to the customer. Refer to Note 14 for further details. Income tax The Group is subject to income taxes in numerous jurisdictions and there are many transactions for which the ultimate tax determination cannot be assessed with certainty in the ordinary course of business. The Group recognises a provision for situations that might arise in the foreseeable future based on an assessment of the probabilities as to whether additional taxes will be due. In addition, the Group is involved in various legal proceedings and tax matters. Where an outflow of funds is believed to be probable and a reliable estimate of the outcome of the dispute can be made, management provides for its best estimate of the liability. Where the final outcome on these matters is different from the amounts that were initially recorded, such differences impact the tax provision in the period in which such determination is made. These estimates are subject to potential change over time as new facts emerge and each circumstance progresses. The evaluation of deferred tax asset recoverability requires estimates to be made regarding the availability of future taxable income in the jurisdiction giving rise to the deferred tax asset. Refer to Note 20 for further details regarding income taxes. Defined benefit plans The determination of pension benefit costs and obligations is estimated based on assumptions determined with the assistance of external actuarial advice. The key assumptions impacting the valuations are the discount rate, salary rate of inflation and mortality rates. Refer to Note 15 for further details about the Group’s defined benefit pension plan costs and obligations, including sensitivities to the key assumptions applied.
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
Intangible assets and goodwill	Intangible assets with indefinite lives Intangible assets with indefinite lives acquired through business combination transactions are measured at fair value at the date of acquisition. These assets TCCC franchise intangible assets The Group’s bottling agreements with TCCC contain performance requirements and convey the rights to distribute and sell products within specified territories. The agreements in each territory are for initial terms of indefinite lives have been assigned to all of the Group’s TCCC bottling agreements. Brands In connection with the Acquisition, the Group acquired a portfolio of brands, predominantly comprised of certain non-alcoholic ready to drink beverages distributed and sold in Australia and New Zealand. These are considered to have an indefinite life, given the strength and durability of the brands. Refer to Note 19 for details surrounding the subsequent sale of certain non-alcoholic ready to drink brands to TCCC, which was completed in tranches. Goodwill Goodwill is initially measured as the excess of the total consideration transferred over the amount recognised for net identifiable assets acquired and liabilities assumed in a business combination. If the fair value of the net assets acquired is in excess of the aggregate consideration transferred, the gain is recognised in the consolidated income statement as a bargain purchase. Goodwill is not subject to amortisation. It is tested annually for impairment at the CGU level or more frequently if events or changes in circumstances indicate that it might be impaired. Goodwill acquired in a business combination is allocated to the CGU that is expected to benefit from the synergies of the combination irrespective of whether a CGU is part of the business combination. Intangible assets with finite lives Intangible assets with finite lives are measured at cost of acquisition or production and are amortised using the straight-line method over their respective estimated useful lives. Finite lived intangible assets are assessed for impairment whenever there is an indication that they may be impaired. The amortisation period and method are reviewed annually. Internally generated software five
Property, plant and equipment	Property, plant and equipment is recorded at cost, net of accumulated depreciation and accumulated impairment losses, where cost is the amount of cash or cash equivalents paid to acquire an asset at the time of its acquisition or construction. Major property additions, replacements and improvements are capitalised, while maintenance and repairs that do not extend the useful life of an asset or add new functionality are expensed as incurred. Land is not depreciated, as it is considered to have an indefinite life. Gains or losses arising on the disposal or retirement of an asset are determined as the difference between the carrying amount of the asset and any proceeds from its sale. Leasehold improvements are amortised using the straight-line method over the shorter of the remaining lease term or the estimated useful life of the improvement. The Group assesses, at each reporting date, whether there is an indication that an asset may be impaired. If any indication exists, an impairment test is performed to estimate the potential loss of value that may reduce the recoverable amount of the asset to below its carrying amount. Any impairment loss is recognised within the consolidated income statement by the amount which the carrying amount exceeds the recoverable amount. Useful lives and residual amounts are reviewed annually and adjustments are made prospectively as required. For property, plant and equipment, the Group assesses annually whether there is an indication that previously recognised impairment losses no longer exist or have decreased. If such an indication exists, a previously recognised impairment loss is reversed only if there has been a change in the assumptions used to determine the asset’s recoverable amount since the last impairment loss was recognised and only up to the recoverable amount or the original carrying amount net of depreciation that would have been incurred had no impairment losses been recognised. The transition to a low-carbon economy may impact the carrying value and remaining useful economic lives of the Group’s property, plant and equipment. The Group continues to invest in more efficient, cleaner and more technologically advanced assets, however, the significant majority of the Group’s assets currently in operation are likely to be substantially depreciated ahead of our Net Zero 2040 target, as set out in our Strategic Report on pages 37-40. In addition, the Group continuously monitors the latest developments in government legislation in relation to climate-related risks. Currently, no legislation has been passed that will materially impact the carrying value and remaining useful economic lives of the Group. The Group leases land, office and warehouse property, computer hardware, machinery and equipment, and vehicles under non-cancellable lease agreements, most of which expire at various dates through to 2030. The Group includes right of use assets within property, plant and equipment. Right of use assets are initially measured at cost, comprising the initial measurement of the lease liability, plus any direct costs and an estimate of asset retirement obligations, less lease incentives. Subsequently, right of use assets are measured at cost, less accumulated depreciation and any accumulated impairment losses. Depreciation is calculated on a straight-line basis over the term of the lease. The Group does not separate lease from non-lease components for each of its lease categories, except for property leases. All low value leases with total minimum lease payments under €5,000 and leases with a term less than 12 months are expensed on a straight-line basis.
Inventories	Inventories are valued at the lower of cost or net realisable value and cost is determined using the first-in, first-out (FIFO) method. Inventories consist of raw materials, supplies (primarily including concentrate, other ingredients and packaging) and finished goods, which also include direct labour, indirect production and overhead costs. Cost includes all costs incurred to bring inventories to their present location and condition. Cost of inventories also includes the transfer from equity of gains and/or losses on qualified cash flow hedges relating to inventory purchases. Spare parts, classified and accounted as inventories, are recorded as assets at the time of purchase and are expensed as utilised. Net realisable value is the estimated selling price in the ordinary course of business, less the estimated costs necessary to complete and sell the inventory.
Trade accounts receivable	The Group sells its products to retailers, wholesalers and other customers and extends credit, generally without requiring collateral, based on an evaluation of the customer’s financial condition. While the Group has a concentration of credit risk in the retail sector, this risk is mitigated due to the diverse nature of the customers the Group serves, including, but not limited to, their type, geographic location, size and beverage channel. Trade accounts receivable are initially recognised at their transaction price and subsequently measured at amortised cost less provision for impairment. Typically, accounts receivable have terms of 30 to 60 days and do not bear interest. The Group applies an expected credit loss reserve methodology to assess possible impairments. Balances are considered for impairment on an individual basis rather than by reference to the extent that they become overdue. The Group considers factors such as delinquency in payment, financial difficulties, payment history of the debtor and certain forward-looking macroeconomic indicators. The carrying amount of trade accounts receivable is reduced through the use of an allowance account, and the amount of the loss is recognised in the consolidated income statement. Credit insurance on a portion of the accounts receivable balance is also carried. Refer to Note 26 for further details on credit risk management.
Cash and cash equivalents	Cash and cash equivalents
Short term investments	Short-term investments are financial assets that are initially recognised at fair value and subsequently measured at amortised cost. The Group classifies its financial assets as at amortised cost only if both of the following criteria are met: • the asset is held within a business model whose objective is to collect the contractual cash flows; and • the contractual terms give rise to cash flows that are solely payments for principal and interest.
Fair values	Fair value measurements All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised within the fair value hierarchy. This is described as one of the following, based on the lowest-level input that is significant to the fair value measurement as a whole: • Level 1 – Quoted prices in active markets for identical assets or liabilities. • Level 2 – Observable inputs other than quoted prices included in Level 1. The Group values assets and liabilities included in this level using dealer and broker quotations, certain pricing models, bid prices, quoted prices for similar assets and liabilities in active markets or other inputs that are observable or can be corroborated by observable market data. • Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. The fair values of the Group’s cash and cash equivalents, short-term investments, 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 Group’s derivative assets and liabilities are carried at fair value both upon initial recognition and subsequently. The fair value is determined using a variety of
Borrowings	Borrowings are initially recognised at fair value, net of issuance costs incurred. Borrowings acquired by the Group as part of the Acquisition have been recognised at fair value at the acquisition date. After initial recognition, borrowings are subsequently measured at amortised cost using the effective interest rate method. Amortisation of transaction costs, fair value adjustments made on acquisition, premiums and discounts are recognised as part of finance costs within the consolidated income statement.
Trade and other payables	Trade and other payables represent liabilities for goods and services provided to the Group prior to the end of the reporting period, which are unpaid. Trade and other payables are presented as current liabilities unless payment is not due within 12 months after the reporting period. Trade and other payables are recognised initially at fair value and subsequently measured at amortised cost using the effective interest rate method. Trade payables are non-interest bearing and are normally settled between 70 to 80 days.

General information and basis_3

General information and basis of preparation (Tables)	12 Months Ended
	Dec. 31, 2023
Corporate information and statement of IFRS compliance [abstract]
Exchange rates used for translation of one Euro	The principal exchange rates used for translation purposes in respect of one euro were: Average for the year ended 31 December (A) Closing as at 31 December 2023 2022 2021 2023 2022 British pound 1.15 1.17 1.16 1.15 1.13 US dollar 0.92 0.95 0.85 0.90 0.94 Norwegian krone 0.09 0.10 0.10 0.09 0.10 Swedish krona 0.09 0.09 0.10 0.09 0.09 Icelandic krona 0.01 0.01 0.01 0.01 0.01 Australian dollar 0.61 0.66 0.63 0.61 0.64 Indonesian rupiah (B) 0.06 0.06 0.06 0.06 0.06 New Zealand dollar 0.57 0.60 0.60 0.57 0.60 Papua New Guinean kina 0.26 0.27 0.24 0.24 0.27 (A) For the year ended 31 December 2021, the rates for the Asia Pacific region are calculated as average for the period from 10 May 2021 to 31 December 2021. (B) Indonesian rupiah is shown as 1000 IDR versus 1 EUR.
Number of selling days by quarter	The following table summarises the number of selling days for the years ended 31 December 2023, 31 December 2022 and 31 December 2021 (based on a standard five day selling week): First half Second half Full year 2023 130 130 260 2022 130 130 260 2021 131 130 261

Segment information (Tables)

Segment information (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of operating segments [abstract]
Disclosure of profit before tax	The following table provides a reconciliation between reportable segment operating profit and consolidated profit before tax: Year ended 31 December 2023 2022 2021 Europe API Total Europe API Total Europe API Total € million € million € million € million € million € million € million € million € million Revenue 14,553 3,749 18,302 13,529 3,791 17,320 11,584 2,179 13,763 Comparable operating profit (A) 1,888 485 2,373 1,670 468 2,138 1,500 272 1,772 Items impacting comparability (B) (34) (52) (256) Reported operating profit 2,339 2,086 1,516 Total finance costs, net (120) (114) (129) Non-operating items (16) (15) (5) Reported profit before tax 2,203 1,957 1,382 (A) Comparable operating profit includes comparable depreciation and amortisation of €558 million and €196 million for Europe and API respectively, for the year ended 31 December 2023. Comparable depreciation and amortisation charges for the year ended 31 December 2022 totalled €549 million and €223 million for Europe and API respectively. Comparable depreciation and amortisation charges for the year ended 31 December 2021 totalled €564 million and €162 million for Europe and API respectively. (B) Items impacting the comparability of period over period financial performance for 2023 primarily include restructuring charges of €94 million (refer to Note 17) and accelerated amortisation charges of €27 million (refer to Note 6), partially offset by €18 million of royalty income arising from the ownership of certain mineral rights in Australia (refer to Note 23), considerations of €35 million received relating to the sale of the sub-strata and associated mineral rights in Australia (refer to Note 23) and gains of €54 million mainly attributable to the sale of property in Germany (refer to Note 23). Items impacting the comparability for 2022 included restructuring charges of €163 million (refer to Note 17), partially offset by €96 million of other income arising from the favourable court ruling pertaining to the ownership of certain mineral rights in Australia (refer to Note 23) and net insurance recoveries received of €11 million arising from the July 2021 flooding events.
Disclosure of geographical segments	The following table summarises revenue from external customers by geography, which is based on the origin of the sale: Year ended 31 December 2023 2022 2021 Revenue: € million € million € million Iberia (A) 3,325 3,034 2,495 Germany 3,018 2,682 2,335 Great Britain 3,235 3,088 2,613 France (B) 2,321 2,089 1,813 Belgium/Luxembourg 1,078 1,042 926 Netherlands 718 682 557 Norway 376 404 391 Sweden 398 421 375 Iceland 84 87 79 Total Europe 14,553 13,529 11,584 Australia 2,385 2,339 1,359 New Zealand and Pacific Islands 679 649 377 Indonesia and Papua New Guinea 685 803 443 Total API 3,749 3,791 2,179 Total CCEP 18,302 17,320 13,763 (A) Iberia refers to Spain, Portugal and Andorra. (B) France refers to continental France and Monaco. Assets are allocated based on operations and physical location. The following table summarises non-current assets, other than financial instruments and deferred tax assets, by geography: Year ended 31 December 2023 2022 Assets: € million € million Iberia (A) 6,455 6,401 Germany 3,162 3,091 Great Britain 2,523 2,469 France (B) 940 896 Belgium/Luxembourg 623 613 Netherlands 439 428 Sweden 349 349 Norway 225 242 Iceland 38 36 Other unallocated 360 271 Total Europe 15,114 14,796 Australia 5,065 5,281 New Zealand and Pacific Islands 1,687 1,755 Indonesia and Papua New Guinea 682 726 Total API 7,434 7,762 Total CCEP 22,548 22,558 (A) Iberia refers to Spain, Portugal and Andorra. (B) France refers to continental France and Monaco.

Earnings per share (Tables)

Earnings per share (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings per share [abstract]
Earnings per share	The following table summarises basic and diluted earnings per share calculations for the years presented: Year ended 31 December 2023 2022 2021 Profit after taxes attributable to equity shareholders (€ million) 1,669 1,508 982 Basic weighted average number of Shares in issue (A) (million) 459 457 456 Effect of dilutive potential Shares (B) (million) — 1 1 Diluted weighted average number of Shares in issue (A) (million) 459 458 457 Basic earnings per share (C) (€) 3.64 3.30 2.15 Diluted earnings per share (C) (€) 3.63 3.29 2.15 (A) As at 31 December 2023, 31 December 2022 and 31 December 2021, the Group had 459,200,818, 457,106,453 and 456,235,032 Shares, respectively, in issue and outstanding. (B) For the years ended 31 December 2023, 31 December 2022 and 31 December 2021, no options to purchase Shares were excluded from the diluted earnings per share calculation. The dilutive impact of all outstanding options, unvested restricted stock units and unvested performance share units was included in the effect of dilutive securities. (C) Basic and diluted earnings per share are calculated prior to rounding.

Intangible assets and goodwill

Intangible assets and goodwill (Tables)	12 Months Ended
	Dec. 31, 2023
Intangible assets and goodwill [abstract]
Summary of carrying amounts of intangible assets and goodwill	The following table summarises the movements in the carrying amounts of intangible assets and goodwill for the periods presented: TCCC franchise Brands Software Customer relationships Non-TCCC franchise intangible Assets under construction Total intangibles Goodwill € million € million € million € million € million € million € million € million Cost: As at 31 December 2021 12,008 22 571 197 149 47 12,994 4,623 Additions — — 40 1 — 63 104 — Disposals — — (27) — — (1) (28) — Transfers and reclassifications — 11 39 — — (38) 12 — Currency translation adjustments (134) 6 (2) (3) (1) (2) (136) (23) As at 31 December 2022 11,874 39 621 195 148 69 12,946 4,600 Additions — — 64 — — 92 156 — Disposals — — (27) — — — (27) — Transfers and reclassifications — — 63 — — (65) (2) — Currency translation adjustments (116) (7) (1) (1) (6) (2) (133) (86) As at 31 December 2023 11,758 32 720 194 142 94 12,940 4,514 Accumulated amortisation: As at 31 December 2021 — — (297) (53) (5) — (355) — Amortisation expense — — (83) (10) (8) — (101) — Disposals — — 22 — — — 22 — Currency translation adjustments — (7) (2) 2 — — (7) — As at 31 December 2022 — (7) (360) (61) (13) — (441) — Amortisation expense — — (94) (10) (35) — (139) — Disposals — — 27 — — — 27 — Currency translation adjustments — 7 1 — — — 8 — As at 31 December 2023 — — (426) (71) (48) — (545) — Net book value: As at 31 December 2021 12,008 22 274 144 144 47 12,639 4,623 As at 31 December 2022 11,874 32 261 134 135 69 12,505 4,600 As at 31 December 2023 11,758 32 294 123 94 94 12,395 4,514
Disclosure of information for cash-generating units	The following table identifies the carrying value of goodwill and indefinite lived intangible assets attributable to each significant CGU of the Group. In addition to the significant CGUs of the Group, as at 31 December 2023, the Group had other CGUs with total indefinite lived intangible assets of €1,349 million (2022: €1,369 million) and goodwill of €370 million (2022: €380 million). Year ended 31 December 2023 2022 Indefinite lived intangible assets Goodwill Indefinite lived intangible assets Goodwill Cash generating unit € million € million € million € million Iberia 4,289 1,275 4,289 1,275 Australia 2,596 1,397 2,690 1,450 Great Britain 1,680 200 1,646 200 Germany 1,060 748 1,060 748 Pacific (A) 816 524 849 547 (A) Pacific refers to New Zealand and Pacific Islands. The recoverable amount of each CGU was determined through a value in use calculation, which uses cash flow projections for a five year period. These projections reflect the impact of climate change on our business as well as the mitigating actions and strategies we are undertaking to support our commitment to reach Net Zero by 2040. The key assumptions used in projecting these cash flows were as follows: • Growth rate and operating margins: Cash flows were projected over four years based on the Group’s strategic business plan. Cash flows for the fifth year and beyond were projected using an inflation-based long-term terminal growth rate between 1.6% and 4.5%. • Discount rate: A weighted average cost of capital was applied specific to each CGU as a hurdle rate to discount cash flows. The discount rates represent the current market assessment of the risks specific to each CGU, taking into consideration the time value of money and individual risks of the underlying assets that have not been incorporated in the cash flow estimates. The following table summarises the pre-tax discount rate attributable to each significant CGU. 2023 2022 Pre-tax Pre-tax Cash generating unit % % Iberia 9.3 8.7 Australia 11.1 9.1 Great Britain 9.8 9.3 Germany 10.1 7.9 Pacific (A) 11.2 9.7 (A) Pacific refers to New Zealand and Pacific Islands.

Property, plant and equipment (

Property, plant and equipment (Tables)	12 Months Ended
	Dec. 31, 2023
Property, plant and equipment [abstract]
Disclosure of detailed information about property, plant and equipment	For all property, plant and equipment, other than land, depreciation is recorded using the straight-line method over the respective estimated useful lives as follows: Useful life (years) Category Low High Buildings and improvements 10 40 Machinery, equipment and containers 3 20 Cold drink equipment 2 12 Vehicle fleet 3 12 Furniture and office equipment 3 10 The following table summarises the movement in net book value for property, plant and equipment for the periods presented: Land Buildings and improvements Machinery, equipment and containers Cold drink equipment Vehicle fleet Furniture Assets under construction Total € million € million € million € million € million € million € million € million Cost: As at 31 December 2021 663 2,429 3,578 1,026 298 160 206 8,360 Additions 1 131 221 65 59 21 287 785 Disposals (3) (28) (103) (49) (58) (8) — (249) Assets held for sale (29) (26) (8) — — — — (63) Transfers and reclassifications 27 37 75 36 2 8 (184) 1 Currency translation adjustments (11) (42) (40) 32 (4) (2) (4) (71) As at 31 December 2022 648 2,501 3,723 1,110 297 179 305 8,763 Additions 20 71 271 73 101 9 344 889 Disposals (1) (44) (214) (47) (51) (3) — (360) Transfers and reclassifications 2 84 124 34 3 12 (259) — Currency translation adjustments (12) (26) (18) (9) (1) (2) (1) (69) As at 31 December 2023 657 2,586 3,886 1,161 349 195 389 9,223 Accumulated depreciation: As at 31 December 2021 — (766) (1,473) (631) (151) (91) — (3,112) Depreciation expense — (128) (380) (127) (58) (22) — (715) Disposals — 19 105 49 53 8 — 234 Assets held for sale — 10 9 — — — — 19 Transfers and reclassifications — — 3 (2) — — — 1 Currency translation adjustments — 22 (2) (14) 3 2 — 11 As at 31 December 2022 — (843) (1,738) (725) (153) (103) — (3,562) Depreciation expense — (137) (318) (112) (61) (25) — (653) Disposals — 28 204 43 47 3 — 325 Transfers and reclassifications — — 3 (1) — — — 2 Currency translation adjustments — — 5 4 — — — 9 As at 31 December 2023 — (952) (1,844) (791) (167) (125) — (3,879) Net book value: As at 31 December 2021 663 1,663 2,105 395 147 69 206 5,248 As at 31 December 2022 648 1,658 1,985 385 144 76 305 5,201 As at 31 December 2023 657 1,634 2,042 370 182 70 389 5,344
Disclosure of right to use asset	The following table summarises the net book value of right of use assets included within property, plant and equipment: Year ended 31 December 2023 2022 € million € million Buildings and improvements 427 465 Vehicle fleet 171 133 Machinery, equipment and containers 81 82 Furniture and office equipment 2 3 Total 681 683 The following table summarises depreciation charges relating to right of use assets for the periods presented: Year ended 31 December 2023 2022 € million € million Buildings and improvements 67 63 Vehicle fleet 58 57 Machinery, equipment and containers 32 34 Furniture and office equipment 2 2 Total 159 156

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2023
Inventories [Abstract]
Schedule of detailed information about inventories	The following table summarises the inventory outstanding in the consolidated statement of financial position as at the dates presented: Year ended 31 December 2023 2022 € million € million Finished goods 750 777 Raw materials and supplies 449 452 Spare parts and other 157 151 Total inventories 1,356 1,380

Trade accounts receivable (Tabl

Trade accounts receivable (Tables)	12 Months Ended
	Dec. 31, 2023
Trade and other receivables [abstract]
Trade and other receivables	The following table summarises the trade accounts receivable outstanding in the consolidated statement of financial position as at the dates presented: Year ended 31 December 2023 2022 € million € million Trade accounts receivable, gross 2,601 2,523 Allowance for doubtful accounts (54) (57) Total trade accounts receivable 2,547 2,466
Disclosure of financial assets that are either past due or impaired	The following table summarises the ageing of trade accounts receivable, net of allowance for doubtful accounts, in the consolidated statement of financial position as at the dates presented: Year ended 31 December 2023 2022 € million € million Not past due 2,348 2,287 Past due 1 – 30 days 142 102 Past due 31 – 60 days 16 30 Past due 61 – 90 days 7 15 Past due 91 – 120 days 9 14 Past due 121+ days 25 18 Total 2,547 2,466
Disclosure of allowance for doubtful accounts	The following table summarises the change in the allowance for doubtful accounts for the periods presented: Allowance for doubtful accounts € million As at 31 December 2021 (49) Provision for impairment recognised during the year (15) Receivables written off during the year as uncollectable 5 Reversals 1 Currency translation adjustments 1 As at 31 December 2022 (57) Provision for impairment recognised during the year (9) Receivables written off during the year as uncollectible 9 Reversals 2 Currency translation adjustments 1 As at 31 December 2023 (54)

Cash and cash equivalents and_2

Cash and cash equivalents and short term investments (Tables)	12 Months Ended
	Dec. 31, 2023
Cash and cash equivalents [abstract]
Schedule of cash and cash equivalents	The following table summarises the cash and cash equivalents outstanding in the consolidated statement of financial position as at the dates presented: Year ended 31 December 2023 2022 € million € million Cash at banks and on hand 465 491 Short-term deposits and securities 954 896 Total cash and cash equivalents 1,419 1,387 Cash and cash equivalents are held in the following currencies as at the Year ended 31 December 2023 2022 € million € million Euro 662 477 British pound 305 190 US dollar 64 88 Norwegian krone 58 35 Swedish krona 26 21 Australian dollar 118 358 Indonesian rupiah 48 26 Papua New Guinean kina 42 102 Other 96 90 Total cash and cash equivalents 1,419 1,387

Fair values (Tables)

Fair values (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Measurement [Abstract]
Disclosure of borrowings	The following table summarises the book value and fair value of the Group’s borrowings as at the dates presented: Year ended 31 December 2023 2022 € million € million Fair value of borrowings 10,580 10,503 Book value of borrowings (Note 13) 11,396 11,907
Disclosure of fair value measurement of liabilities	The following table summarises the fair value of the derivative assets and liabilities as at the dates presented: Year ended 31 December 2023 2022 € million € million Assets at fair value: Derivatives (Note 12) 261 448 Liabilities at fair value: Derivatives (Note 12) 268 263
Disclosure of fair value measurement of assets	The following table summarises the fair value of the derivative assets and liabilities as at the dates presented: Year ended 31 December 2023 2022 € million € million Assets at fair value: Derivatives (Note 12) 261 448 Liabilities at fair value: Derivatives (Note 12) 268 263

Hedging activities (Tables)

Hedging activities (Tables)	12 Months Ended
	Dec. 31, 2023
Financial Instruments [Abstract]
Disclosure of detailed information about hedging assets	Hedging instrument Location – statement of financial position Year ended 31 December 2023 2022 € million € million Assets: Derivatives designated as hedging instruments: Commodity contracts Non-current derivative assets 38 30 Foreign currency contracts Non-current derivative assets — 4 Interest rate and cross currency swaps Non-current derivative assets 62 157 Commodity contracts Current derivative assets 94 133 Foreign currency contracts Current derivative assets 20 27 Interest rate and cross currency swaps Current derivative assets 47 97 Total assets 261 448 Liabilities: Derivatives designated as hedging instruments: Commodity contracts Non-current derivative liabilities 30 6 Foreign currency contracts Non-current derivative liabilities 2 10 Interest rate and cross currency swaps Non-current derivative liabilities 137 171 Commodity contracts Current derivative liabilities 58 47 Foreign currency contracts Current derivative liabilities 36 29 Deal contingent forwards Current derivative liabilities 5 — Total liabilities 268 263
Disclosure of detailed information about hedging liabilities	Hedging instrument Location – statement of financial position Year ended 31 December 2023 2022 € million € million Assets: Derivatives designated as hedging instruments: Commodity contracts Non-current derivative assets 38 30 Foreign currency contracts Non-current derivative assets — 4 Interest rate and cross currency swaps Non-current derivative assets 62 157 Commodity contracts Current derivative assets 94 133 Foreign currency contracts Current derivative assets 20 27 Interest rate and cross currency swaps Current derivative assets 47 97 Total assets 261 448 Liabilities: Derivatives designated as hedging instruments: Commodity contracts Non-current derivative liabilities 30 6 Foreign currency contracts Non-current derivative liabilities 2 10 Interest rate and cross currency swaps Non-current derivative liabilities 137 171 Commodity contracts Current derivative liabilities 58 47 Foreign currency contracts Current derivative liabilities 36 29 Deal contingent forwards Current derivative liabilities 5 — Total liabilities 268 263
Disclosure of detailed information about hedging instruments	The following table summarises the Group’s outstanding cash flow hedges by risk category as at the dates presented (all contracts denominated in a foreign currency have been converted into euro using the respective year end spot rate): Notional maturity profile Total Less than 1 year 1 to 3 years 3 to 5 years Over 5 years Cash flow hedges € million € million € million € million € million Foreign currency contracts 1,074 912 162 — — Interest rate and cross currency swaps 2,225 144 1,365 — 716 Commodity contracts 922 566 356 — — As at 31 December 2021 4,221 1,622 1,883 — 716 Foreign currency contracts 1,723 1,292 431 — — Interest rate and cross currency swaps 2,079 760 604 416 299 Commodity contracts 1,397 834 563 — — As at 31 December 2022 5,199 2,886 1,598 416 299 Deal contingent foreign currency forwards 636 636 — — — Foreign currency contracts 1,105 980 125 — — Interest rate and cross currency swaps 1,306 602 — 520 184 Commodity contracts 1,441 829 588 9 15 As at 31 December 2023 4,488 3,047 713 529 199 The following table provides a reconciliation by risk category of the net of tax impacts on the cash flow hedge reserve disclosed in Note 16, resulting from cash flow hedge accounting: Foreign currency contracts Commodity contracts Interest rate and cross currency swaps Total Cash flow hedges € million € million € million € million As at 1 January 2021 (1) 20 1 20 Net fair value gains/(losses) recognised in OCI 108 209 (16) 301 Net (gains)/losses reclassified from OCI to income statement or transferred to cost of inventories 3 (76) (13) (86) Gains transferred to goodwill (84) — — (84) As at 31 December 2021 26 153 (28) 151 Net fair value gains/(losses) recognised in OCI 13 43 46 102 Net (gains)/losses reclassified from OCI to income statement or transferred to cost of inventories (19) (117) (13) (149) As at 31 December 2022 20 79 5 104 Net fair value gains/(losses) recognised in OCI (26) 67 (3) 38 Net (gains)/losses reclassified from OCI to income statement or transferred to cost of inventories (A) 10 (111) (10) (111) As at 31 December 2023 4 35 (8) 31 (A) The amount includes a net of tax gain of €83 million transferred from the cash flow hedge reserve to the cost of inventories. The following table summarises the Group’s outstanding fair value hedges by risk category as at the dates presented (all contracts denominated in a foreign currency have been converted into euros using the respective year end spot rate): Less than 1 year 1 to 3 years 3 to 5 years Over 5 years Fair value hedges Total € million € million € million € million Interest rate and cross currency swaps 166 — — — 166 As at 31 December 2021 166 — — — 166 Interest rate and cross currency swaps 1,165 — — 500 665 As at 31 December 2022 1,165 — — 500 665 Interest rate and cross currency swaps 1,159 — 275 450 434 As at 31 December 2023 1,159 — 275 450 434
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting	The following table summarises the net of tax effect of the cash flow hedges in the consolidated income statement for the periods presented: Cash flow hedging instruments Location – Income statement Amount of gain/(loss) reclassified Year ended 31 December 2023 2022 2021 € million € million € million Foreign currency contracts Cost of sales 1 19 (3) Commodity contracts Cost of sales — 83 74 Commodity contracts Selling and distribution expenses 17 34 2 Interest rate and cross currency swaps Finance costs 10 13 13 Total 28 149 86 The following table summarises the gains/(losses) recognised from the settlement of fair value hedges within the consolidated income statement for the periods presented: Fair value hedges Location – Income statement Year ended 31 December 2023 2022 2021 € million € million € million Interest rate and cross currency swaps Finance costs (30) 2 (2) Total (30) 2 (2)
Disclosure of gains (losses) recognized from non-designated derivative financial instruments	The following table summarises the gains/(losses) recognised from non-designated derivative financial instruments in the consolidated income statement for the years presented: Non-designated hedging instruments Location – Income statement Year ended 31 December 2023 2022 2021 € million € million € million Foreign currency contracts (A) Non-operating items (5) (5) — Total (5) (5) — (A) The gain/(loss) recognised on these currency contracts is offset by the gain/(loss) recognised on the remeasurement of the underlying

Borrowings and leases (Tables)

Borrowings and leases (Tables)	12 Months Ended
	Dec. 31, 2023
Financial Instruments [Abstract]
Disclosure of borrowings	The following table summarises the carrying value of the Group’s borrowings as at the dates presented: Year ended 31 December 2023 2022 € million € million Non-current: Euro denominated bonds: €500 million 1.125% Notes 2024 — 498 €350 million 2.375% Notes 2025 349 349 €250 million 2.75% Notes 2026 (E) 245 240 €600 million 1.75% Notes 2026 (E) 588 580 €400 million 1.50% Notes 2027 (E) 381 370 €250 million 1.50% Notes 2027 258 259 €500 million 1.75% Notes 2028 (E) 478 466 €750 million 0.20% Notes 2028 745 744 €500 million 1.125% Notes 2029 496 495 €500 million 1.875% Notes 2030 (E) 482 472 €700 million 3.875% Notes 2030 (A) 694 — €500 million 0.70% Notes 2031 (E) 482 473 €800 million 0.00% Notes 2025 798 798 €700 million 0.50% Notes 2029 695 695 €1,000 million 0.875% Notes 2033 991 991 €750 million 1.50% Notes 2041 746 746 Foreign currency bonds (swapped into euro) (F) : US$650 million 0.80% Notes 2024 — 608 US$500 million 1.50% Notes 2027 451 466 Year ended 31 December 2023 2022 € million € million Australian dollar denominated bonds: A$100 million 3.50% Notes 2024 — 66 A$30 million 4.166% Notes 2025 19 21 A$20 million 4.25% Notes 2025 13 14 A$30 million 4.125% Notes 2026 19 20 A$50 million 4.155% Notes 2028 33 35 A$133 million 2.45% Notes 2029 83 86 A$50 million 4.20% Notes 2031 34 36 A$187 million 4.20% Notes 2031 128 135 A$13 million 4.20% Notes 2031 9 9 Foreign currency bonds (swapped into Australian dollar or New Zealand dollar) (F) : NOK1 billion 3.04% Notes 2028 92 99 NOK750 million 2.75% Notes 2030 68 73 US$50 million 2.6525% Notes 2030 45 47 JPY10 billion 4.15% Notes 2036 (E) 67 74 JPY12.3 billion 1.06% Notes 2037 (E) 65 71 Lease obligations 542 535 Total non-current borrowings 10,096 10,571 Year ended 31 December 2023 2022 € million € million Current: Euro denominated bonds: €500 million 1.125% Notes 2024 500 — €350 million 2.625% Notes 2023 (B) — 350 Foreign currency bonds (swapped into euro) (F) : US$650 million 0.8% Notes due 2024 588 — US$850 million 0.50% Notes due 2023 (C) — 797 Australian dollar denominated bonds: A$100 million 3.5% Notes 2024 62 — Foreign currency bonds (F) : US$25 million 4.34% Notes 2023 (D) — 24 US$25 million 4.34% Notes 2023 (D) — 24 Lease obligations 150 141 Total current borrowings 1,300 1,336 (A) In December 2023, the Group issued €700 million 3.875% Notes 2030 in connection with the proposed acquisition of CCBPI. Refer to Note 19 for further information concerning the proposed acquisition (B) In November 2023, the Group repaid on maturity the outstanding amount related to the €350 million 2.625% Notes 2023. (C) In May 2023, the Group repaid on maturity the outstanding amount related to the US$850 million 0.50% Notes due 2023. (D) In October 2023, the Group repaid on maturity the outstanding amount related to US$25 million 4.34% Notes 2023 and US$25 million 4.34% Notes 2023 assumed as part of the Acquisition. (E) Bond designated in full or partially in a fair value hedge relationship. (F) Cross currency swaps are used by the Group to swap foreign currency bonds into the required local currency.
Disclosure of reconciliation of liabilities arising from financing activities	The following table provides a reconciliation of movements of liabilities to cash flows arising from financing activities: Current portion of borrowings Borrowings, less current portion Interest payable (B) Derivatives (assets)/ liabilities held to hedge borrowings (C) Dividend payable (B) Total € million € million € million € million € million € million As at 01 January 2021 805 6,382 57 — 2 7,246 Acquisition of API 381 1,251 — 16 — 1,648 Changes from financing cash flows Proceeds from third party borrowings, net — 4,877 — — — 4,877 Changes in short-term borrowings (A) 276 — — — — 276 Repayments on third party borrowings (950) — — — — (950) Payment of principal on lease obligations (139) — — — — (139) Interest paid (10) — (87) — — (97) Dividends paid — — — — (638) (638) Other non-cash changes Amortisation of discount, premium and issue costs — (3) — — — (3) Other non-cash movements 39 83 108 — 639 869 Movement as a result of fair value hedges 6 9 — — — 15 Changes in fair values — — — (98) — (98) Currency translation 33 100 — (28) — 105 Reclassifications 909 (909) — — — — Total changes 545 5,408 21 (110) 1 5,865 As at 31 December 2021 1,350 11,790 78 (110) 3 13,111 Changes from financing cash flows Changes in short-term borrowings (A) (285) — — — — (285) Repayments on third party borrowings (938) — — — — (938) Current portion of borrowings Borrowings, less current portion Interest payable (B) Derivatives (assets)/ liabilities held to hedge borrowings (C) Dividend payable (B) Total € million € million € million € million € million € million Payment of principal on lease obligations (153) — — — — (153) Interest paid (14) — (116) — — (130) Dividends paid — — — — (763) (763) Other financing activities (1) — — — — (1) Other non-cash changes Amortisation of discount, premium and issue costs (1) 4 — — — 3 Other non-cash movements 34 171 112 — 766 1,083 Movement as a result of fair value hedges 11 (172) — — — (161) Changes in fair values — — — 45 — 45 Currency translation — 111 — (18) (2) 91 Reclassifications 1,333 (1,333) — — — — Total changes (14) (1,219) (4) 27 1 (1,209) As at 31 December 2022 1,336 10,571 74 (83) 4 11,902 Changes from financing cash flows Proceeds from third party borrowings, net — 694 — — — 694 Repayments on third party borrowings (1,159) — — — — (1,159) Payment of principal on lease obligations (148) — — — — (148) Settlement of debt-related cross-currency swaps — — — 69 — 69 Interest paid (17) — (165) — — (182) Dividends paid — — — — (841) (841) Current portion of borrowings Borrowings, less current portion Interest payable (B) Derivatives (assets)/ liabilities held to hedge borrowings (C) Dividend payable (B) Total € million € million € million € million € million € million Other non-cash changes Amortisation of discounts, premium, issue costs and fair value adjustments — 5 — — — 5 Other non-cash movements 93 98 164 — 844 1,199 Movement as a result of fair value hedges — 40 — — — 40 Changes in fair values — — — 25 — 25 Currency translation (40) (77) — 17 (2) (102) Reclassifications 1,235 (1,235) — — — — Total changes (36) (475) (1) 111 1 (400) As at 31 December 2023 1,300 10,096 73 28 5 11,502 (A) In 2023, changes in short-term borrowings include €6,810 million of newly issued and €6,810 million of repaid EUR commercial paper. In 2022, changes in short-term borrowings included €2,464 million and €2,749 million of newly issued and repaid EUR commercial paper, respectively. (B) Interest payable and dividends payable balances are presented within the “Trade and other payables” line item in the Group’s consolidated statement of financial position. (C) Interest rate and cross currency swaps used to hedge interest rate risk and currency fluctuations of non-functional currency borrowings, refer to Note 12.

Trade and other payables (Table

Trade and other payables (Tables)	12 Months Ended
	Dec. 31, 2023
Trade and other payables [abstract]
Disclosure of trade and other payables	The following table summarises trade and other payables as at the dates presented: Year ended 31 December 2023 2022 € million € million Trade accounts payable (A) 2,306 2,221 Accrued customer marketing costs 1,340 1,348 Accrued deposits 338 288 Accrued compensation and benefits 532 500 Accrued taxes (B) 280 253 Other accrued expenses 438 442 Total trade and other payables 5,234 5,052 (A) Includes amounts of €622 million (2022: €212 million) which are part of a supply chain finance programme facilitated by the Group. The programme permits suppliers to elect on an invoice by invoice basis to receive a discounted payment from the partner bank earlier than the agreed payment terms with the Group. If a supplier makes this election, the value and the due date of the invoice payable by the Group remains unchanged. (B) This line item includes a payable of €59 million in 2023 and €57 million in 2022 to the Spanish tax authorities. Refer to Note 24 for further details.

Post-employment benefits (Table

Post-employment benefits (Tables)	12 Months Ended
	Dec. 31, 2023
Employee Benefits [Abstract]
Disclosure of net employee benefit liability	The following table summarises our non-current employee benefit liabilities as at the dates presented: Year ended 31 December 2023 2022 GB Rest of world Total GB Rest of world Total € million € million € million € million € million € million Retirement benefit obligation 77 81 158 — 77 77 Other employee benefit liabilities — 33 33 — 31 31 Total non-current employee benefit liabilities 77 114 191 — 108 108
Disclosure of expense recognized in consolidated income statement	The following table summarises the expense related to pension plans recognised in the consolidated income statement for the years presented: Year ended 31 December 2023 2022 2021 GB Rest of world Total GB Rest of world Total GB Rest of world Total € million € million € million € million € million € million € million € million € million Service cost — 14 14 — 18 18 10 16 26 Past service (A) — (7) (7) — (2) (2) (29) 6 (23) Net interest (1) (1) (2) (2) 1 (1) 1 1 2 Administrative expenses — 1 1 — 1 1 1 1 2 Total cost (1) 7 6 (2) 18 16 (17) 24 7 (A) The current year activity is predominantly comprised of the impact of a plan amendment arising from legislative changes in respect of the minimum retirement age in France.
Disclosure of changes in other comprehensive income	The following table summarises the changes in other comprehensive income related to our pension plans for the years presented: Year ended 31 December 2023 2022 2021 GB Rest of world Total GB Rest of world Total GB Rest of world Total € million € million € million € million € million € million € million € million € million Actuarial loss/(gain) on defined benefit obligation arising during the period 39 32 71 (712) (125) (837) (60) (6) (66) Return on plan assets less/(greater) than discount rate 65 (28) 37 808 74 882 (177) (58) (235) Net charge to other comprehensive income 104 4 108 96 (51) 45 (237) (64) (301)
Disclosure of net defined benefit obligation	The following tables summarise the changes in the pension plan benefit obligation and the fair value of plan assets for the periods presented: Year ended 31 December 2023 2022 GB Rest of world Total GB Rest of world Total € million € million € million € million € million € million Reconciliation of benefit obligation: Benefit obligation at beginning 937 529 1,466 1,739 674 2,413 Service cost — 14 14 — 18 18 Past service (credit)/cost — (7) (7) — (2) (2) Interest costs on defined benefit obligation 45 15 60 32 7 39 Plan participants contribution — 36 36 — 28 28 Actuarial loss/(gain) – experience 21 9 30 26 7 33 Actuarial (gain)/loss – demographic assumptions (13) — (13) 2 — 2 Actuarial loss/(gain) – financial assumptions 31 23 54 (740) (132) (872) Benefit payments (33) (70) (103) (57) (72) (129) Administrative expenses — 1 1 — 1 1 Currency translation adjustments 20 (2) 18 (65) — (65) Benefit obligation at end of plan year 1,008 548 1,556 937 529 1,466 Year ended 31 December 2023 2022 GB Rest of world Total GB Rest of world Total € million € million € million € million € million € million Reconciliation of fair value Fair value of plan assets at beginning of plan year 952 572 1,524 1,840 664 2,504 Interest income on plan assets 46 16 62 34 6 40 Return on plan assets (less)/greater than discount rate (65) 28 (37) (808) (74) (882) Plan participants contributions — 36 36 — 28 28 Employer contributions 11 21 32 11 21 32 Benefit payments (33) (70) (103) (57) (72) (129) Currency translation adjustment 20 (2) 18 (68) (1) (69) Fair value of plan assets at end 931 601 1,532 952 572 1,524
Disclosure of defined benefit plans	The following table summarises the retirement benefit status of pension plans as at the dates presented: Year ended 31 December 2023 2022 GB Rest of world Total GB Rest of world Total € million € million € million € million € million € million Net benefit status: Present value of obligation (1,008) (548) (1,556) (937) (529) (1,466) Fair value of assets 931 601 1,532 952 572 1,524 Net benefit status: (77) 53 (24) 15 43 58 Retirement benefit surplus (Note 25) — 134 134 15 120 135 Retirement benefit obligation (77) (81) (158) — (77) (77) The following tables summarise the weighted average actuarial assumptions used to determine the benefit obligations of pension plans as at the dates presented: Year ended 31 December 2023 2022 GB Rest of world Average GB Rest of world Average Financial assumptions % % % % % % Discount rate 4.5 3.6 4.2 4.8 4.0 4.5 Rate of compensation increase N/A 3.6 3.6 N/A 3.6 3.6 Rate of price inflation 3.1 2.3 2.9 3.3 2.4 3.0 Year ended 31 December 2023 2022 Demographic assumptions (A) GB Rest of world Average GB Rest of world Average Retiring at the end Male 21.4 19.8 21.0 21.9 19.8 21.3 Female 23.9 23.2 23.7 24.4 23.1 24.0 Retiring 15 years after the end Male 22.3 20.0 21.7 22.8 20.0 22.1 Female 25.0 23.5 24.6 25.5 23.5 24.9 (A) These assumptions translate into an average life expectancy in years, post-retirement, for an employee retiring at age 65.
Disclosure of sensitivity analysis for actuarial assumptions	The following tables summarise the sensitivity of the defined benefit obligation to changes in the weighted average principal assumptions for the periods presented: Year ended 31 December 2023 Change in assumption Impact on defined benefit obligation (%) Increase in assumption Decrease in assumption Principal assumptions GB Rest of world Average GB Rest of world Average Discount rate 0.5 % (7.3) (4.1) (6.2) 7.9 4.4 6.7 Rate of compensation increase (A) 0.5 % N/A 1.6 0.5 N/A (1.4) (0.5) Rate of price inflation 0.5 % 4.6 3.2 4.1 (4.5) (3.0) (4.0) Mortality rates 1 year 2.3 1.7 2.1 (2.5) (1.8) (2.2) Year ended 31 December 2022 Change in assumption Impact on defined benefit obligation (%) Increase in assumption Decrease in assumption Principal assumptions GB Rest of world Average GB Rest of world Average Discount rate 0.5 % (7.9) (4.0) (6.5) 8.6 4.4 7.1 Rate of compensation increase (A) 0.5 % N/A 1.6 0.6 N/A (1.4) (0.5) Rate of price inflation 0.5 % 3.9 3.1 3.6 (3.8) (2.9) (3.4) Mortality rates 1 year 3.0 1.7 2.5 (2.8) (1.7) (2.4) (A) The compensation increase assumption is no longer applicable to the valuation of the defined benefit obligation associated with the GB Scheme in light of the plan closure effective 31 March 2021.
Disclosure of fair value of plan assets	The following table summarises pension plan assets measured at fair value as at the dates presented: Year ended 31 December 2023 Year ended 31 December 2022 Total Investments quoted in active markets Unquoted investments Total Investments quoted in active markets Unquoted investments GB Rest of world GB Rest of world GB Rest of world GB Rest of world € million € million € million € million € million € million € million € million € million € million Equity securities (A) 154 — 154 — — 185 — 185 — — Fixed income securities: (B) Corporate bonds and notes 211 117 94 — — 56 — 56 — — Government bonds (C) 335 770 41 (476) — 692 1,131 28 (467) — Cash and other short-term investments (D) 25 19 6 — — 28 23 5 — — Other investments: Real estate funds (E) 255 21 26 208 — 274 43 15 216 — Insurance contracts (F) 463 — — 260 203 207 — — — 207 Investment funds (G) 77 — — — 77 76 — 5 — 71 Derivatives (H) 12 7 — 5 — 6 5 — 1 — Total 1,532 934 321 (3) 280 1,524 1,202 294 (250) 278 (A) Equity securities are comprised of ordinary shares and investments in equity funds. Investments in ordinary shares are valued using quoted market prices multiplied by the number of shares owned. Investments in equity funds are valued at the net asset value per share, which is calculated predominantly based on the underlying quoted investments market price, multiplied by the number of shares held as of the measurement date. (B) The fair values of the fixed income securities are determined based on quoted market prices in active markets. Bonds are held mainly in the currency of the geography of the plan. (C) The unquoted amounts within this category relate to repurchase agreements (where the Scheme has sold government bonds with the agreement to repurchase at a fixed date and price). The commitment to repurchase the government bonds reduces the pension assets and is reflected at fair value based on the repurchase price. The assets sold are reported at their fair value, reflecting that the Scheme retains the risks and rewards of ownership of those assets. The asset portfolio of the GB Scheme was refined during 2022 by entering into repurchase agreement of government bonds in order to better match the Scheme liability and to offset the exposure to interests and inflation rates, while remaining invested in the assets of similar risk profile. (D) Cash and other short-term investments are valued at €1.00/unit, which approximates fair value. Amounts are generally invested in cash or interest bearing accounts. (E) The valuation of unquoted real estate funds is based on net assets value per share multiplied by the number of shares owned. For quoted real estate funds, the calculation is based on the underlying quoted investments market price, multiplied by the number of shares held as of the measurement date. (F) Insurance contracts exactly match the amount and timing of certain benefits and therefore the fair value of these insurance policies is deemed to be the present value of the related obligations. (G) Primarily includes investments in equity securities, fixed income securities and combinations of both. Fair values are sourced from broker quotes. (H) The unquoted amounts within derivatives primarily relate to total return swaps, which represent the current value of future cash flows arising from the swap determined using discounted cash flow models and market data at the reporting date.

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2023
Share Capital, Reserves And Other Equity Interest [Abstract]
Disclosure of shares and share capital outstanding	Number of Shares Share capital millions € million As at 1 January 2021 455 5 Issuances of Shares 1 — Cancellation of Shares — — As at 31 December 2021 456 5 Issuance of Shares 1 — Cancellation of Shares — — As at 31 December 2022 457 5 Issuance of Shares 2 — Cancellation of Shares — — As at 31 December 2023 459 5
Disclosure of other reserves within equity	The following table summarises the balances in other reserves (net of tax) as at the dates presented: Year ended 31 December 2023 2022 2021 € million € million € million Cash flow hedge reserve 31 104 151 Net investment hedge reserve 197 197 197 Foreign currency translation adjustment reserve (974) (728) (509) Reserve related to the acquisition of non-controlling interests (79) (79) — Other reserves (A) 2 (1) 5 Total other reserves (823) (507) (156) (A) Other reserves relate to cost of hedging which represents forward point on spot designations, time value of options and currency basis.
Disclosure of dividends	Year ended 31 December 2023 2022 2021 € million € million € million First half dividend (A) 308 256 — Second half dividend (B) 533 507 638 Total dividend on ordinary shares paid 841 763 638 (A) Dividend of €0.67 per Share was paid in first half of 2023. Dividend of €0.56 per Share was paid in first half of 2022. (B) Dividend of €1.17 per Share was paid in second half of 2023. Dividend of €1.12 per Share was paid in second half of 2022. A full year dividend of €1.40 per Share was paid in 2021.

Total operating costs (Tables)

Total operating costs (Tables)	12 Months Ended
	Dec. 31, 2023
Analysis of income and expense [abstract]
Disclosure of detailed information about expenses	The following tables summarise the significant cost items by nature within operating costs for the years presented: Year ended 31 December 2023 2022 2021 € million € million € million Transportation costs (A) 958 851 631 Employee benefits 1,116 1,110 975 Depreciation of property, plant and equipment, excluding restructuring 236 246 245 Amortisation of intangible assets 6 7 4 Restructuring charges, including accelerated depreciation (B) — 1 45 Other selling and distribution expenses 862 769 596 Total selling and distribution expenses 3,178 2,984 2,496 Transportation costs (A) 3 16 2 Employee benefits 608 544 462 Depreciation of property, plant and equipment, excluding restructuring 93 99 76 Amortisation of intangible assets 130 94 83 Acquisition related costs 12 3 49 Restructuring charges, including accelerated depreciation (B) 85 143 91 Other administrative expenses 379 351 311 Total administrative expenses 1,310 1,250 1,074 Total operating expenses 4,488 4,234 3,570 (A) Transportation costs include warehousing and delivery costs to the final customer destination. They exclude depreciation and amortisation. (B) See restructuring costs table. Year ended 31 December 2023 2022 2021 Restructuring costs € million € million € million Increase in provision for restructuring programmes (Note 22) 78 115 93 Amount of provision unused (Note 22) (10) (8) (13) Accelerated depreciation and non-cash costs 11 44 60 Other cash costs (A) 15 12 13 Total restructuring costs 94 163 153 Restructuring costs by function: Cost of sales 9 19 17 Selling and distribution expenses — 1 45 Administrative expenses 85 143 91 (A) Other cash costs primarily relate to professional fees, which include consultancy costs, legal fees and other costs directly associated with restructuring. Staff costs included within the income statement were as follows: Year ended 31 December 2023 2022 2021 Employee costs € million € million € million Wages and salaries 1,841 1,769 1,544 Social security costs 339 316 302 Pension and other employee benefits 253 233 170 Total employee costs 2,433 2,318 2,016 The average number of persons employed by the Group (including Directors) for the periods presented were as follows: 2023 2022 2021 No. in thousands No. in thousands No. in thousands Commercial 11.6 12.5 10.9 Supply chain 17.1 16.6 14.9 Support functions 4.1 4.0 3.9 Total average staff employed 32.8 33.1 29.7 Audit and other fees charged in the income statement concerning the statutory auditor of the consolidated financial statements, Ernst & Young LLP, were as follows: Year ended 31 December 2023 2022 2021 € thousand € thousand € thousand Audit of Parent Company and consolidated financial statements (A) 3,759 3,136 4,751 Audit of the Company’s subsidiaries 6,269 6,248 5,493 Total audit 10,028 9,384 10,244 Audit-related assurance services (B) 1,019 1,002 1,234 Other assurance services 717 213 313 Total audit and audit-related assurance services 11,764 10,599 11,791 All other services (C) 36 47 35 Total non-audit or non-audit-related assurance services 36 47 35 Total audit and all other fees 11,800 10,646 11,826 (A) Fees in respect of the audit of the accounts of the Company, including the Group's consolidated financial statements. (B) Includes professional fees for interim reviews, reporting on internal financial controls, services related to the transactions entered into with TCCC, issuance of comfort letters for debt issuances, regulatory inspections, certain accounting consultations and other attested engagements. (C) Represents fees for all other allowable services.

Finance costs (Tables)

Finance costs (Tables)	12 Months Ended
	Dec. 31, 2023
Borrowing costs [abstract]
Disclosure Of Detailed Information About Financial Income Cost	The following table summarises net finance costs for the years presented: Year ended 31 December 2023 2022 2021 € million € million € million Interest income (A) 65 67 43 Interest expense on external debt (A) (162) (162) (153) Other finance costs (B) (23) (19) (19) Total finance costs, net (120) (114) (129) (A) Includes interest income and expense amounts, as applicable, on cross currency swaps and interest rate swaps. Cross currency swap and interest rate swap income totalled €47 million, €50 million and €27 million in 2023, 2022 and 2021, respectively. Cross currency swap and interest rate swap expense totalled €67 million, €31 million and €14 million in 2023, 2022 and 2021, respectively. Refer to Note 12 for further details. (B) Other finance costs principally includes amortisation of the discount on external debt and interest on leases.

Related party transactions (Tab

Related party transactions (Tables)	12 Months Ended
	Dec. 31, 2023
Related Party [Abstract]
Disclosure of transactions between related parties	The following table summarises the transactions with TCCC that directly impacted the consolidated income statement for the years presented: Year ended 31 December 2023 2022 2021 € million € million € million Amounts affecting revenue (A) 140 117 50 Amounts affecting cost of sales (B) (3,964) (3,805) (3,056) Amounts affecting operating expenses (C) 25 19 9 Amounts affecting finance costs, net (D) 4 — — Total net amount affecting the consolidated income statement (3,795) (3,669) (2,997) (A) Amounts principally relate to fountain syrup and packaged product sales. (B) Amounts principally relate to the purchase of concentrate, syrup, mineral water and juice, as well as funding for marketing programmes. (C) Amounts principally relate to certain costs associated with new product development initiatives and reimbursement of certain marketing expenses . (D) Amounts relate to bank fees recharges for bank guarantees. The following table summarises the transactions with TCCC that impacted the consolidated statement of financial position for the periods presented: Year ended 31 December 2023 2022 € million € million Amounts due from TCCC 101 130 Amounts payable to TCCC 229 442 Year ended 31 December 2023 2022 2021 € million € million € million Amounts affecting revenue (A) 1 2 1 Amounts affecting cost of sales (B) (69) (76) (49) Amounts affecting operating expenses (C) (18) (17) (11) Total net amount affecting the consolidated income statement (86) (91) (59) (A) Amounts principally relate to packaged product sales. (B) Amounts principally relate to the purchase of packaging materials and concentrate. (C) Amounts principally relate to maintenance and repair services and transportation. The following table summarises the transactions with Cobega that impacted the consolidated statement of financial position for the periods presented: Year ended 31 December 2023 2022 € million € million Amounts due from Cobega 16 3 Amounts payable to Cobega 22 24 The following table summarises the transactions with associates, joint ventures and other related parties: Year ended 31 December 2023 2022 2021 € million € million € million Net amounts affecting consolidated income statement – associates (A) (68) (73) (49) Net amounts affecting consolidated income statement – joint ventures (B) (28) (9) (9) Net amounts affecting consolidated income statement – other related parties (A) (85) (85) (52) Total net amount affecting the consolidated income statement (181) (167) (110) (A) Amounts principally relate to container deposit scheme charges in Australia. (B) Amounts principally relate to the purchase of certain raw materials. The following table summarises the balances with associates, joint ventures and other related parties: Year ended 31 December 2023 2022 € million € million Amounts due from associates 6 6 Amounts payable to associates 2 9 Amounts payable to joint ventures 7 — Amounts payable to other related parties 10 10 Year ended 31 December 2023 2022 2021 € million € million € million Salaries and other short-term employee benefits (A) 31 30 22 Share-based payments 20 15 7 Total 51 45 29 (A) Short-term employee benefits include wages, salaries and social security contributions, paid annual leave and paid sick leave, paid bonuses and non-monetary benefits.

Income taxes (Tables)

Income taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax [Abstract]
Disclosure of income expense	The following table summarises the major components of income tax expense for the periods presented: Year ended 31 December 2023 2022 2021 € million € million € million Current tax: Current tax charge 555 460 323 Adjustment in respect of current tax from prior periods (10) (37) (53) Total current tax 545 423 270 Deferred tax: Relating to the origination and reversal of temporary differences 11 35 6 Adjustment in respect of deferred income tax from prior periods (22) (22) (9) Relating to changes in tax rates or the imposition of new taxes — — 127 Total deferred tax (11) 13 124 Income tax charge per the consolidated income statement 534 436 394
Disclosure of income tax relating to components of other comprehensive income	The following table summarises the taxes on items recognised in other comprehensive income (OCI) and directly within equity for the periods presented: Year ended 31 December 2023 2022 2021 € million € million € million Taxes charged/(credited) to OCI: Deferred tax on net gain/loss on revaluation of cash flow hedges 11 (20) 63 Deferred tax on net gain/loss on pension plan remeasurements (43) (11) 63 Current tax on net gain/loss on pension plan remeasurements 8 — 1 Total taxes charged/(credited) to OCI (24) (31) 127 Taxes charged/(credited) to equity: Deferred tax charge/(credit): cash flow hedges (31) — — Deferred tax charge/(credit): share-based compensation (1) (2) (3) Current tax charge/(credit): share-based compensation — (8) — Total taxes charged/(credited) to equity (32) (10) (3)
Disclosure of effective income tax rate reconciliation	The Parent Company of the Group is a UK company. Accordingly, the following tables provide reconciliations of the Group’s income tax expense at the UK statutory tax rate to the actual income tax expense for the periods presented: Year ended 31 December 2023 2022 2021 € million € million € million Accounting profit before tax from continuing operations 2,203 1,957 1,382 Tax expense at the UK statutory rate 518 371 262 Taxation of foreign operations, net (A) 43 115 72 Non-deductible expense items for tax purposes 15 2 2 Rate and law change impact, net (B)(C)(D) — — 127 Deferred taxes not recognised (10) 7 (7) Adjustment in respect of prior periods (E) (32) (59) (62) Total provision for income taxes 534 436 394 (A) This reflects the impact, net of income tax contingencies, of having operations outside the UK, which are taxed at rates other than the statutory UK rate of 23.5% (2022: 19%, 2021: 19%). (B) In 2021, the UK enacted a law change that increased its tax rate to 25% with effect from 1 April 2023. The Group recognised a deferred tax expense of €123 million to reflect the impact of this change. (C) In 2021, the Netherlands enacted a law change that increased its tax rate to 25.8% with effect from 1 January 2022. The Group recognised a deferred tax expense of €2 million to reflect the impact of this change. (D) In 2021, Indonesia enacted a law change that retained its tax rate of 22% with effect from 1 January 2022, reversing a previously enacted decrease to 20%. The Group recognised a deferred tax expense of €2 million to reflect the impact of this change. (E)
Disclosure of deferred tax liabilities and assets	The following table summarises the movements in the carrying amounts of deferred tax liabilities and assets by significant component during the periods presented: Franchise and other intangible assets Property, plant Financial assets and liabilities Tax Employee and retiree Tax Other, Total, € million € million € million € million € million € million € million € million As at 31 December 2021 3,285 251 36 (14) (14) (12) 25 3,557 Amount charged/(credited) to income statement (4) (11) 5 7 5 — 11 13 Amounts charged/(credited) directly to OCI — — (20) — (11) — — (31) Amount charged/(credited) to equity — — — — (2) — — (2) Acquired through business combinations (4) 2 — — — — — (2) Balance sheet reclassifications (1) (2) (1) (4) — — 4 (4) Effect of movements in foreign exchange (22) (4) (3) — (1) — (9) (39) As at 31 December 2022 3,254 236 17 (11) (23) (12) 31 3,492 Amount charged/(credited) to income statement (14) 2 11 — (15) (12) 17 (11) Amounts charged/(credited) directly to OCI — — 11 — (43) — — (32) Amount charged/(credited) to equity — — (31) — (1) — — (32) Balance sheet reclassifications — 10 — — — — (10) — Effect of movements in foreign exchange (49) — — — 2 — 7 (40) As at 31 December 2023 3,191 248 8 (11) (80) (24) 45 3,377 Analysed as follows: As at 31 December 2022 As at 31 December 2023 Deferred tax asset (21) (1) Deferred tax liability 3,513 3,378
Disclosure of maturity of unrecognized tax losses, tax credits and deductible temporary differences	The gross and tax effected amounts including expiry dates, where applicable, of unrecognised losses, tax credits and deductible temporary differences available for carry forward are as follows: Year ended 31 December 2023 2022 2021 € million € million € million Gross amount Tax effected Gross amount Tax effected Gross amount Tax effected Tax losses expiring: Beyond 10 years 3 1 3 1 — — No time limit 1,391 264 1,657 288 1,803 310 1,394 265 1,660 289 1,803 310 Tax credits expiring: Within 10 years 57 57 58 58 100 100 Beyond 10 years 35 35 43 43 45 45 92 92 101 101 145 145 Deductible temporary differences No time limit 17 4 79 20 53 11 17 4 79 20 53 11 Total 1,503 361 1,840 410 2,001 466

Share-based payment plans (Tabl

Share-based payment plans (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangements [Abstract]
Disclosure of share option activity	The following table summarises our share option activity for the periods presented: 2023 2022 2021 Shares Average exercise price Shares Average exercise price Shares Average exercise price thousands US$ thousands US$ thousands US$ Outstanding at beginning of year 2,272 35.30 2,758 34.19 4,051 31.68 Granted — — — — — — Exercised (1,352) 33.86 (484) 29.00 (1,290) 26.33 Forfeited, expired or cancelled — — (2) 23.21 (3) 19.68 Outstanding at end of year 920 37.42 2,272 35.30 2,758 34.19 Options exercisable at end of year 920 37.42 2,272 35.30 2,758 34.19
Disclosure of range of exercise prices of outstanding share options	The following table summarises the weighted average remaining life of options outstanding for the periods presented: 2023 2022 2021 Range of exercise prices Options Weighted Options Weighted Options Weighted US$ thousands years thousands years thousands years 15.01 to 25.00 — 0 — 0 151 0.85 25.01 to 40.00 920 1.60 2,272 2.20 2,607 3.04 Total 920 1.60 2,272 2.20 2,758 2.92
Disclosure of weighted average grant-date fair value of units granted	The following table summarises the weighted average grant date fair values Restricted stock units and performance share units 2023 2022 Grant date fair value – service conditions (US$) 59.21 45.43 Grant date fair value – service and performance conditions (US$) 59.23 45.44

Provisions, contingencies and_2

Provisions, contingencies and commitments (Tables)	12 Months Ended
	Dec. 31, 2023
Other Provisions, Contingent Liabilities And Contingent Assets [Abstract]
Disclosure of provisions	The following table summarises the movement in each class of provision for the periods presented: Restructuring provision Decommissioning provision Other provisions (A) Total € million € million € million € million As at 31 December 2021 103 20 11 134 Charged/(credited) to profit or loss: Additional provisions recognised 115 7 2 124 Unused amounts reversed (8) (2) (3) (13) Utilised during the period (74) (1) (1) (76) Translation 1 — — 1 As at 31 December 2022 137 24 9 170 Charged/(credited) to profit or loss: Additional provisions recognised 78 1 24 103 Unused amounts reversed (10) (9) (1) (20) Utilised during the period (89) (1) (4) (94) Translation — — — — As at 31 December 2023 116 15 28 159 Non-current 26 15 4 45 Current 90 — 24 114 As at 31 December 2023 116 15 28 159 (A) Other provisions primarily relate to property tax assessment provisions and legal reserves, and are not considered material to the consolidated financial statements.

Other current assets and asse_2

Other current assets and assets held for sale (Tables)	12 Months Ended
	Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract]
Summary of other current assets	The following table summarises the Group’s other current assets as at the dates presented: Year ended 31 December 2023 2022 Other current assets € million € million Prepayments 130 180 VAT receivables 40 41 Coal royalties (A) — 96 Miscellaneous receivables 181 162 Total other current assets 351 479 (A) As at 31 December 2022, the amount related to the royalty income recognised in connection with a favourable court ruling pertaining to the ownership of certain mineral rights in Australia. Refer to Note 23 for further detail.

Other non-current assets (Table

Other non-current assets (Tables)	12 Months Ended
	Dec. 31, 2023
Subclassifications of assets, liabilities and equities [abstract]
Summary of other non-current assets	The following table summarises the Group’s other non-current assets as at the dates presented: Year ended 31 December 2023 2022 Other non-current assets € million € million Retirement benefit surplus (Note 15) 134 135 Investments 39 35 Other 122 82 Total other non-current assets 295 252
Summary of non-current investments	The following table summarises the Group’s carrying value of investments as at the dates presented: Year ended 31 December 2023 2022 Investments € million € million Investments accounted using equity method 35 33 Financial assets at fair value through other comprehensive income 4 2 Total investments 39 35

Financial risk management (Tabl

Financial risk management (Tables)	12 Months Ended
	Dec. 31, 2023
Financial Instruments [Abstract]
Sensitivity analysis for types of market risk	The following table demonstrates the sensitivity to reasonably possible changes in commodity prices at the reporting date, with all other variables held constant. The impact on the Group’s pre-tax equity is due to changes in the fair value of commodity hedges designated as cash flow hedges. There is no impact on the Group’s income statement as all commodity derivatives are designated as hedging instruments in cash flow hedges. Year ended 31 December 2023 2022 2021 Commodity price risk € million € million € million 10% increase in commodity prices equity gain 144 140 92 10% decrease in commodity prices equity loss (144) (140) (92)
Disclosure of maturity analysis for non-derivative financial liabilities	The amounts disclosed in the table are the contractual undiscounted cash flows: Total Less than 1 year 1 to 3 years 3 to 5 years More than 5 years Financial liabilities € million € million € million € million € million 31 December 2023 Trade and other payables 4,875 4,875 — — — Amounts payable to related parties 270 270 — — — Borrowings 11,803 1,322 2,325 2,681 5,475 Derivatives 268 99 42 39 88 Lease liabilities 774 159 237 141 237 Total financial liabilities 17,990 6,725 2,604 2,861 5,800 31 December 2022 Trade and other payables 4,714 4,714 — — — Amounts payable to related parties 485 485 — — — Borrowings 12,314 1,336 2,597 2,179 6,202 Derivatives 263 76 17 51 119 Lease liabilities 752 149 217 129 257 Total financial liabilities 18,528 6,760 2,831 2,359 6,578
Disclosure of maturity analysis for derivative financial liabilities	The amounts disclosed in the table are the contractual undiscounted cash flows: Total Less than 1 year 1 to 3 years 3 to 5 years More than 5 years Financial liabilities € million € million € million € million € million 31 December 2023 Trade and other payables 4,875 4,875 — — — Amounts payable to related parties 270 270 — — — Borrowings 11,803 1,322 2,325 2,681 5,475 Derivatives 268 99 42 39 88 Lease liabilities 774 159 237 141 237 Total financial liabilities 17,990 6,725 2,604 2,861 5,800 31 December 2022 Trade and other payables 4,714 4,714 — — — Amounts payable to related parties 485 485 — — — Borrowings 12,314 1,336 2,597 2,179 6,202 Derivatives 263 76 17 51 119 Lease liabilities 752 149 217 129 257 Total financial liabilities 18,528 6,760 2,831 2,359 6,578

Group companies (Tables)

Group companies (Tables)	12 Months Ended
	Dec. 31, 2023
Interest In Other Entities [Abstract]
Disclosure of interests in other entities	Name Country of incorporation % equity interest Registered address Agua De La Vega Del Codorno, S.L.U. Spain 100% C/ Ribera Del Loira 20-22, 2a Planta, 28042, Madrid, Spain Aguas De Cospeito, S.L.U. Spain 100% Crta. Pino km. 1 - 2, 27377, Cospeito (Lugo), Spain Aguas De Santolin, S.L.U. Spain 100% C/ Real, s/n 09246, Quintanaurria, Burgos, Spain Aguas Del Maestrazgo, S.L.U. Spain 100% C/ Ribera Del Loira 20-22, 2a Planta, 28042, Madrid, Spain Aguas Del Toscal, S.A.U. Spain 100% Ctra. de la Pasadilla, km, 3-35250, ingenio (Gran Canaria), Spain Aguas Vilas Del Turbon, S.L.U. Spain 100% C/ Ribera Del Loira 20-22, 2a Planta, 28042, Madrid, Spain Aitonomi AG Switzerland 15% Bruderhausstrasse 10, CH-6372 Ennetmoos, Switzerland Amalgamated Beverages Great Britain Limited United Kingdom 100% (D) Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom Apand Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Associated Products & Distribution Proprietary Australia 100% (O) Level 13, 40 Mount Street, North Sydney NSW 2060, Australia BBH Investment Ireland Limited Ireland 100% 6th Floor, 2 Grand Canal Square, Dublin 2, Ireland Name Country of incorporation % equity interest Registered address Bebidas Gaseosas Del Noroeste, S.L.U. Spain 100% Avda. Alcalde Alfonso Molina, S/N-15007, (A Coruna), Spain Beganet, S.L.U. Spain 100% Avda Paisos Catalans, 32, 08950, Esplugues de Llobregat, Spain Beverage Bottlers (NQ) Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Beverage Bottlers (QLD) Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Birtingahúsið ehf. Iceland 34.5% Laugavegur 174, 105, Reykjavík, Iceland BL Bottling Holdings UK Limited United Kingdom 100% Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom BNI B.V. Netherlands 100% Marten Meesweg 25 J, 3068 AV, Rotterdam, Netherlands BNII Inc. Philippines 100% (G) V&A Law Center, 11th Ave Cor 39th St., Bonifacio Global City, Fort Bonifacio, 1634 Taguig City NCR, Fourth District, Philippines BNI (Finance) B.V. Netherlands 100% Marten Meesweg 25 J, 3068 AV, Rotterdam, Netherlands Bottling Great Britain Limited United Kingdom 100% (D) Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom Bottling Holding France SAS France 100% 9 chemin de Bretagne, 92784, Issy-les-Moulineaux, France Bottling Holdings (Luxembourg) SARL Luxembourg 100% 2, Rue des Joncs, L-1818, Howald, Luxembourg Bottling Holdings (Netherlands) B.V. Netherlands 100% Marten Meesweg 25 J, 3068 AV, Rotterdam, Netherlands Bottling Holdings Europe Limited United Kingdom 100% (B)(E) Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom Brewcorp Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Brewhouse Investments Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia C - C Bottlers Limited Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Can Recycling (S.A.) Pty. Ltd. Australia 100% (B) Level 13, 40 Mount Street, North Sydney NSW 2060, Australia CC Digital GmbH Germany 50% Stralauer Allee 4, 10245, Berlin, Germany CC Erfrischungsgetränke Oldenburg Verwaltungs GmbH Germany 100% (I) Stralauer Allee 4, 10245, Berlin, Germany CC Iberian Partners Gestion S.L. Spain 100% C/ Ribera Del Loira 20-22, 2a Planta, 28042, Madrid, Spain CC Verpackungsgesellschaft mit beschraenkter Haftung Germany 100% Schieferstrasse 20, 06126, Halle (Saale), Germany CCA Bayswater Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia CCEP Australia Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia CCEP Finance (Australia) Limited United Kingdom 100% (A) Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom CCEP Finance (Ireland) Designated Activity Company Ireland 100% 3 Dublin Landings, North Wall Quay, Dublin, D01 C4E0, Ireland CCEP Group Services Limited United Kingdom 100% Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom CCEP Holdings (Australia) Limited United Kingdom 100% (A)(D) Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom CCEP Holdings (Australia) Pty Ltd Australia 100% (A) Level 13, 40 Mount Street, North Sydney NSW 2060, Australia CCEP Holdings Norge AS Norway 100% Robsrudskogen 5, Lørenskog, 1470, Norway CCEP Holdings Sverige AB Sweden 100% Dryckesvägen 2 C, 136 87, Haninge, Sweden CCEP Holdings UK Limited United Kingdom 100% Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom Name Country of incorporation % equity interest Registered address CCEP Scottish Limited Partnership United Kingdom 100% (P) 52 Milton Road, College Milton, East Kilbride, Scotland, G74 5DJ, United Kingdom CCEP Ventures Australia Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia CCEP Ventures Europe Limited United Kingdom 100% (A) Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom CCEP Ventures UK Limited United Kingdom 100% (A) Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom CCIP Soporte, S.L.U. Spain 100% C/ Ribera Del Loira 20-22, 2a Planta, 28042, Madrid, Spain Circular Plastics Australia (PET) Holdings Pty Ltd Australia 16.67% Building 3, 658 Church Street, Cremorne VIC 3121, Australia Classic Brand (Europe) Designated Activity Company Ireland 100% Charlotte House, Charlemont Street, Saint Kevin's, Dublin, D02 NV26 Cobega Embotellador, S.L.U. Spain 100% Avda Paisos Catalans, 32, 08950, Esplugues de Llobregat, Spain Coca-Cola Europacific Partners (CDE Aust) Pty Limited Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Coca-Cola Europacific Partners (Fiji) Pte Limited Fiji 100% Lot 1, Ratu Dovi Road, Laucala Beach Estate, NASINU, Fiji Coca-Cola Europacific Partners (Holdings) Pty Limited Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Coca-Cola Europacific Partners (Initial LP) Limited United Kingdom 100% Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom Coca-Cola Europacific Partners (Scotland) Limited United Kingdom 100% 52 Milton Road, College Milton, East Kilbride, Scotland, G74 5DJ, United Kingdom Coca-Cola Europacific Partners API Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Coca-Cola Europacific Partners Australia Pty Limited Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Coca-Cola Europacific Partners Belgium SRL/BV Belgium 100% Chaussée de Mons 1424, 1070 Brussels, Belgium Coca-Cola Europacific Partners Deutschland GmbH Germany 100% (F) Stralauer Allee 4, 10245, Berlin, Germany Coca-Cola Europacific Partners France SAS France 100% (G) 9 chemin de Bretagne, 92784, Issy-les-Moulineaux, France Coca-Cola Europacific Partners Great Britain Limited United Kingdom 100% Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom Coca-Cola Europacific Partners Holdings Great Britain Limited United Kingdom 100% Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom Coca-Cola Europacific Partners Holdings NZ Limited New Zealand 100% The Oasis, 19 Carbine Road, Mount Wellington, Auckland, 1060, New Zealand Coca-Cola Europacific Partners Holdings US, Inc. United States 100% (A)(D) Corporation Trust Center, 1209 Orange Street, Wilmington DE, USA Coca-Cola Europacific Partners Iberia, S.L.U. Spain 100% C/ Ribera Del Loira 20-22, 2a Planta, 28042, Madrid, Spain Coca-Cola Europacific Partners Investments (Singapore) Pte. Ltd. Singapore 100% 80 Robinson Road, #02-00, 068898, Singapore Coca-Cola Europacific Partners Ísland ehf. Iceland 100% Studlahals 1, 110, Reykjavik, Iceland Coca-Cola Europacific Partners Luxembourg sàrl Luxembourg 100% 2, Rue des Joncs, L-1818, Howald, Luxembourg Coca-Cola Europacific Partners Nederland B.V. Netherlands 100% Marten Meesweg 25 J, 3068 AV, Rotterdam, Netherlands Coca-Cola Europacific Partners New Zealand Limited New Zealand 100% The Oasis, 19 Carbine Road, Mount Wellington, Auckland, 1060, New Zealand Coca-Cola Europacific Partners Norge AS Norway 100% Robsrudskogen 5, Lørenskog, 1470, Norway Coca-Cola Europacific Partners Papua New Guinea Limited Papua New Guinea 100% Section 23, Allotment 14, Milfordhaven Road, LAE, Morobe Province, 411, Papua New Guinea Coca-Cola Europacific Partners Pension Scheme Trustees Limited United Kingdom 100% Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom Coca-Cola Europacific Partners Portugal Unipessoal LDA Portugal 100% Quinta da Salmoura - Cabanas-2925-362 Azeitão, Setúbal, Portugal Coca-Cola Europacific Partners Services Bulgaria EOOD Bulgaria 100% 2 Donka Ushlinova Street, Garitage Park, Office Building 4, floor 6, Sofia, 1766, Bulgaria Name Country of incorporation % equity interest Registered address Coca-Cola Europacific Partners Services Europe Limited United Kingdom 100% Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom Coca-Cola Europacific Partners Services SRL Belgium 100% (N) Chaussée de Mons 1424, 1070 Brussels, Belgium Coca-Cola Europacific Partners Sverige AB Sweden 100% 136 87, Haninge, Sweden Coca-Cola Europacific Partners US, LLC United States 100% Corporation Trust Center, 1209 Orange Street, Wilmington 19801, Delaware, USA Coca-Cola Europacific Partners US II, LLC United States 100% Corporation Trust Center, 1209 Orange Street, Wilmington 19801, Delaware, USA Coca-Cola Europacific Partners Vanuatu Limited Vanuatu 100% 1st Floor, Govant Building, Kumul Highway, Port Vila, Vanuatu Coca-Cola Immobilier SCI France 100% (G) 9 chemin de Bretagne, 92784, Issy-les-Moulineaux, France Coca-Cola Production SAS France 100% Zone d' entreprises de Bergues, 59380, Commune de Socx, France Coca-Cola Australia Foundation Limited Australia —% (L) Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Compañía Asturiana De Bebidas Gaseosas, S.L.U. Spain 100% C/ Nava, 18- 3ª (Granda) Siero - 33006, Oviedo, Spain Compañía Castellana De Bebidas Gaseosas, S.L. Spain 100% C/ Ribera Del Loira 20-22, 2a Planta, 28042, (Madrid), Spain Compañía Levantina De Bebidas Gaseosas, S.L.U. Spain 100% Av. Real Monasterio de Sta., Maria de Poblet, 3646930, Quart de Poblet, Spain Compañía Norteña De Bebidas Gaseosas, S.L.U. Spain 100% C/ Ibaizábal, 57, Galdakao, 48960, Bizkaia, Spain Compañía Para La Comunicación De Bebidas Sin Alcohol, S.L.U. Spain 100% C/ Ribera Del Loira 20-22, 2a Planta, 28042, Madrid, Spain Container Exchange (QLD) Limited Australia —% (L) Level 17, 100 Creek Street, Brisbane QLD 4000, Australia Circular Economy Systems Pty Ltd Australia 50% Maddocks, Angel Place, Level 27, 123 Pitt Street, Sydney NSW 2000, Australia Crusta Fruit Juices Proprietary Limited Australia 100% (J) Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Developed System Logistics, S.L.U. Spain 100% Av. Henry Ford 25, Manzana 19, Complejo Pq.Ind.Juan, CARLOS I, 46220, Picassent, Valencia, Spain Endurvinnslan hf. Iceland 20% Knarravogur 4, 104 Reykjavik, Iceland Exchange for Change (ACT) Pty Ltd Australia 20% Building C, Suite 6, Level 1, 1 Homebush Bay Drive, Rhodes NSW 2138, Australia Exchange for Change (NSW) Pty Ltd Australia 20% Building C, Suite 6, Level 1, 1 Homebush Bay Drive, Rhodes NSW 2138, Australia Feral Brewing Company Pty Ltd Australia 100% (K) Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Foodl B.V. Netherlands 33.3% HNK Utrecht West, V.02, Weg der Verenigde Naties 1, 3527 KT, Utrecht, Netherlands GR Bottling Holdings UK Limited United Kingdom 100% (A) Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom Infineo Recyclage SAS France 49% (H) Sainte Marie la Blanche, 21200, Dijon, France Innovative Tap Solutions Inc. United States 21.8% 300 Brookside Avenue, Ambler, PA 19002, USA Instelling voor Bedrijfspensioenvoorziening Coca-Cola Europacific Partners Belgium/Coca-Cola Europacific Partners Services – Bedienden-Arbeiders OFP Belgium 100% 1424 – B1070 Bergensesteenweg, Brussels, Belgium Instelling voor Bedrijfspensioenvoorziening Coca-Cola Europacific Partners Belgium/Coca-Cola Europacific Partners Services – Kaderleden OFP Belgium 100% 1424 – B1070 Bergensesteenweg, Brussels, Belgium Ionech Limited United Kingdom 14.8% 6th Floor, Manfield House, 1 Southampton Street, London, England, WC2R 0LR Name Country of incorporation % equity interest Registered address Kollex GmbH Germany 20% Kottbusser Damm 25-26, 10967, Berlin, Germany Lavit Holdings Inc United States 13.7% 27 West 20th Street, Suite 1004, New York NY 10011, USA Lusobega, S.L. Spain 100% C/ Ibaizábal, 57, 48960, Bizkaia, Galdakao, Spain Madrid Ecoplatform, S.L.U. Spain 100% C/Pedro Lara, 8 Pq. Tecnologico de Leganes, 28919, (Leganes), Spain Mahija Parahita Nusantara Foundation Indonesia —% (L) South Quarter Tower C, 22nd (P) Floor, Jalan R.A. Kartini, Kav.8, Cilandak Barat, Cilandak, South Jakarta, 12430, Indonesia Matila Nominees Pty. Limited Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Neverfail Bottled Water Co Pty Limited Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Neverfail SA Pty. Limited Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Neverfail Springwater (VIC) Pty Limited Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Neverfail Springwater Co Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Neverfail Springwater Co. (QLD) Pty. Limited Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Neverfail Springwater Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Neverfail WA Pty. Limited Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Pacbev Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Paradise Beverages (Fiji) Pte Limited Fiji 100% 122-164 Foster Road, Walu Bay, Suva, Fiji PEÑA Umbria S.L.U. Spain 100% Av. Real Monasterio de Sta., Maria de Poblet, 3646930, Quart de Poblet, Spain Perfect Fruit Company Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia PT Amandina Bumi Nusantara Indonesia 35.31% South Quarter Tower C, 22nd (P) Floor, Jalan R.A. Kartini, Kav.8, Cilandak Barat, Cilandak, South Jakarta, 12430, Indonesia PT Coca-Cola Bottling Indonesia Indonesia 100% (C) South Quarter Tower C, 22nd (P) Floor, Jalan R.A. Kartini, Kav.8, Cilandak Barat, Cilandak, South Jakarta, 12430, Indonesia PT Coca-Cola Distribution Indonesia Indonesia 100% South Quarter Tower C, 22nd (P) Floor, Jalan R.A. Kartini, Kav.8, Cilandak Barat, Cilandak, South Jakarta, 12430, Indonesia Purna Pty. Ltd. Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Quenchy Crusta Sales Pty. Ltd. Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Real Oz Water Supply Co (QLD) Pty Limited Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Refrescos Envasados Del Sur, S.L.U. Spain 100% Autovía del Sur A-IV, km.528- 41309, La Rinconada, Sevilla, Spain Refrige SGPS, Unipessoal, LDA Portugal 100% Quinta da Salmoura - Cabanas-2925-362 Azeitão, Setúbal, Portugal Sale Proprietary Co 1 Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Sale Proprietary Co 2 Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Sale Proprietary Co 3 Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Sale Proprietary Co 4 Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Sale Proprietary Co 5 Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Name Country of incorporation % equity interest Registered address Sale Proprietary Co 6 Pty Ltd Australia 100% (D) Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Sale Proprietary Co 7 Pty Ltd Australia 100% Level 13, 40 Mount Street, North Sydney NSW 2060, Australia Samoa Breweries Limited (SBL) Samoa 100% Vaitele Industrial Zone, Vaitele Tai, Faleata Sisifo, Samoa TasRecycle Limited Australia —% (M) Level 9, 85 Macquarie Street, Hobart TAS 7000, Australia VicRecycle Limited Australia —% (M) HWL Ebsworth Lawyers, Level 8, 447 Collins Street, Melbourne VIC 3000, Australia WA Return Recycle Renew Ltd Australia —% (L) Unit 2, 1 Centro Avenue, Subiaco WA 6008, Australia Wabi Portugal, Unipessoal LDA Portugal 100% Nº 16-A, Fracçao B, 5º Piso, Edificio Miraflores Premium Distrito: Lisboa Concelho: Oieras Freguesia: Algés, Linda-a-Velha e Cruz Quebrada-Dafundo 1495 190 Algés, Portugal WB Investment Ireland 2 Limited Ireland 100% 3 Dublin Landings, North Wall Quay, Dublin, D01 C4E0, Ireland WBH Holdings Luxembourg SCS Luxembourg 100% 2, Rue des Joncs, L-1818, Howald, Luxembourg WIH UK Limited United Kingdom 100% (A) Pemberton House, Bakers Road, Uxbridge, England, UB8 1EZ, United Kingdom Wir Sind Coca-Cola GmbH Germany 100% Stralauer Allee 4, 10245, Berlin, Germany (A) 100% equity interest directly held by Coca-Cola Europacific Partners plc. (B) Class A and B ordinary shares. (C) Series A, B, C and D shares. (D) Including preference shares issued to the Group. (E) 38.3% equity interest directly held by Coca-Cola Europacific Partners plc (100% of A ordinary shares in issue). (F) 10% equity interest directly held by Coca-Cola Europacific Partners plc. (G) Group shareholding of 99.99% or greater. (H) Class A and B shares. The Group holds 49% of Class B shares. (I) In liquidation. (J) Class A and F shares. (K) Includes ordinary shares and B Class shares. (L) Company limited by guarantee. CCEP is a member along with one other member. (M) Company limited by guarantee. CCEP is a member along with two other members. (N) Class A, B and C ordinary shares. (O) Includes redeemable preference shares and discretionary dividend shares issued to the Group. (P) Limited partnership. Subsidiaries exempt from audit The following UK subsidiaries will take advantage of the audit exemption set out within section 479A of the Companies Act 2006 for the year ended 31 December 2023. Name Registration number CCEP Holdings (Australia) Limited 12982568 WIH UK Limited 10140214 Amalgamated Beverages Great Britain Limited 01994995

Subsidiaries exempt from audit

Subsidiaries exempt from audit (Tables)	12 Months Ended
	Dec. 31, 2023
Disclosure of subsidiaries [abstract]
Schedule Of Subsidiaries Exempt From Audit	The following UK subsidiaries will take advantage of the audit exemption set out within section 479A of the Companies Act 2006 for the year ended 31 December 2023. Name Registration number CCEP Holdings (Australia) Limited 12982568 WIH UK Limited 10140214 Amalgamated Beverages Great Britain Limited 01994995

General information and basis_4

General information and basis of preparation - Narrative (Details)	Dec. 31, 2023 € / shares
Ordinary shares
Disclosure of classes of share capital [line items]
Par value per share (in Euro per share)	€ 0.01

General information and basis_5

General information and basis of preparation - Exchange Rates Used for Translation (Details)	12 Months Ended
	Dec. 31, 2023 IDR (Rp)	Dec. 31, 2022	Dec. 31, 2021
British pound
Disclosure of classes of share capital [line items]
Average for the year ended 31 December	1.15	1.17	1.16
Closing as at 31 December	1.15	1.13
US dollar
Disclosure of classes of share capital [line items]
Average for the year ended 31 December	0.92	0.95	0.85
Closing as at 31 December	0.90	0.94
Norwegian krone
Disclosure of classes of share capital [line items]
Average for the year ended 31 December	0.09	0.10	0.10
Closing as at 31 December	0.09	0.10
Swedish krona
Disclosure of classes of share capital [line items]
Average for the year ended 31 December	0.09	0.09	0.10
Closing as at 31 December	0.09	0.09
Icelandic krona
Disclosure of classes of share capital [line items]
Average for the year ended 31 December	0.01	0.01	0.01
Closing as at 31 December	0.01	0.01
Australian dollar
Disclosure of classes of share capital [line items]
Average for the year ended 31 December	0.61	0.66	0.63
Closing as at 31 December	0.61	0.64
Indonesian Rupiah
Disclosure of classes of share capital [line items]
Average for the year ended 31 December	0.06	0.06	0.06
Closing as at 31 December	0.06	0.06
Amount of currency obtained in exchange	Rp 1,000
New Zealand dollar
Disclosure of classes of share capital [line items]
Average for the year ended 31 December	0.57	0.60	0.60
Closing as at 31 December	0.57	0.60
Papua New Guinean kina
Disclosure of classes of share capital [line items]
Average for the year ended 31 December	0.26	0.27	0.24
Closing as at 31 December	0.24	0.27

General information and basis_6

General information and basis of preparation - Number of Selling Days (Details) - day	6 Months Ended						12 Months Ended
	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022	Jul. 01, 2022	Dec. 31, 2021	Jul. 02, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Corporate information and statement of IFRS compliance [abstract]
Number of selling days in period	130	130	130	130	130	131	260	260	261

Segment information - Schedule

Segment information - Schedule of Operating Results per Geographic Segment (Details) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	€ 18,302	€ 17,320	€ 13,763
Comparable operating profit	2,373	2,138	1,772
Items impacting comparability	(34)	(52)	(256)
Operating profit	2,339	2,086	1,516
Total finance costs, net	(120)	(114)	(129)
Non-operating items	(16)	(15)	(5)
Profit before taxes	2,203	1,957	1,382
Restructuring charges including accelerated depreciation	94	163	153
Other income	107	96	0
Net income from reimbursements under insurance policies		11
Mineral rights
Disclosure of disaggregation of revenue from contracts with customers [line items]
Disposals, intangible assets other than goodwill	35
Mineral rights | Change in useful life
Disclosure of disaggregation of revenue from contracts with customers [line items]
Disposals, intangible assets other than goodwill	27
Administrative expenses
Disclosure of disaggregation of revenue from contracts with customers [line items]
Restructuring charges including accelerated depreciation	85	143	91
Europe
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	14,553	13,529	11,584
Comparable operating profit	1,888	1,670	1,500
Depreciation and amortisation expense	558	549	564
API
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	3,749	3,791	2,179
Comparable operating profit	485	468	272
Depreciation and amortisation expense	196	223	162
Australia
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	2,385	2,339	1,359
Royalty income	18	96
Germany
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue	3,018	€ 2,682	€ 2,335
Gain on sale of distribution centre in Great Britain	€ 54

Segment information - Segment R

Segment information - Segment Revenue and Assets by Geography (Details) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of geographical areas [line items]
Revenue	€ 18,302	€ 17,320	€ 13,763
Non-current assets other than financial instruments and deferred tax assets	22,548	22,558
Europe
Disclosure of geographical areas [line items]
Revenue	14,553	13,529	11,584
Non-current assets other than financial instruments and deferred tax assets	15,114	14,796
Iberia
Disclosure of geographical areas [line items]
Revenue	3,325	3,034	2,495
Non-current assets other than financial instruments and deferred tax assets	6,455	6,401
Germany
Disclosure of geographical areas [line items]
Revenue	3,018	2,682	2,335
Non-current assets other than financial instruments and deferred tax assets	3,162	3,091
Great Britain
Disclosure of geographical areas [line items]
Revenue	3,235	3,088	2,613
Non-current assets other than financial instruments and deferred tax assets	2,523	2,469
France
Disclosure of geographical areas [line items]
Revenue	2,321	2,089	1,813
Non-current assets other than financial instruments and deferred tax assets	940	896
Belgium/Luxembourg
Disclosure of geographical areas [line items]
Revenue	1,078	1,042	926
Non-current assets other than financial instruments and deferred tax assets	623	613
Netherlands
Disclosure of geographical areas [line items]
Revenue	718	682	557
Non-current assets other than financial instruments and deferred tax assets	439	428
Norway
Disclosure of geographical areas [line items]
Revenue	376	404	391
Non-current assets other than financial instruments and deferred tax assets	225	242
Sweden
Disclosure of geographical areas [line items]
Revenue	398	421	375
Non-current assets other than financial instruments and deferred tax assets	349	349
Iceland
Disclosure of geographical areas [line items]
Revenue	84	87	79
Non-current assets other than financial instruments and deferred tax assets	38	36
Other unallocated
Disclosure of geographical areas [line items]
Non-current assets other than financial instruments and deferred tax assets	360	271
Total API
Disclosure of geographical areas [line items]
Revenue	3,749	3,791	2,179
Non-current assets other than financial instruments and deferred tax assets	7,434	7,762
Australia
Disclosure of geographical areas [line items]
Revenue	2,385	2,339	1,359
Non-current assets other than financial instruments and deferred tax assets	5,065	5,281
New Zealand and Pacific Islands
Disclosure of geographical areas [line items]
Revenue	679	649	377
Non-current assets other than financial instruments and deferred tax assets	1,687	1,755
Indonesia and Papua New Guinea
Disclosure of geographical areas [line items]
Revenue	685	803	€ 443
Non-current assets other than financial instruments and deferred tax assets	€ 682	€ 726

Earnings per share - Summary of

Earnings per share - Summary of Basic and Diluted Earnings Per Ordinary Share (Details) - EUR (€) € / shares in Units, € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings per share [abstract]
Profit after taxes attributable to equity shareholders (€ million)	€ 1,669	€ 1,508	€ 982
Basic weighted average number of shares in issue (million) (in shares)	459,000,000	457,000,000	456,000,000
Effect of dilutive potential shares (million) (in shares)	0	1,000,000	1,000,000
Diluted weighted average number of shares in issue (million) (in shares)	459,000,000	458,000,000	457,000,000
Basic earnings per share (in EUR per share)	€ 3.64	€ 3.30	€ 2.15
Diluted earnings per share (in EUR per share)	€ 3.63	€ 3.29	€ 2.15
Number of shares issued and fully paid (in shares)	459,200,818	457,106,453	456,235,032
Antidilutive options excluded from diluted earnings per share share (in shares)	0	0	0

Intangible assets and goodwil_2

Intangible assets and goodwill - Narrative (Details) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Mineral rights
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Disposals, intangible assets other than goodwill	€ 35
Mineral rights | Change in useful life
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Disposals, intangible assets other than goodwill	€ 27
Pacific CGU
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Headroom percentage	11%
Percent by which value assigned to terminal growth rate must change in order to result in impairment	(0.90%)
Percent by which value assigned to discount rate must change in order to result in an impairment	(0.70%)
Indonesia CGU
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets and goodwill	€ 143
Headroom percentage	11%
Discount rate applied to cash flow projections	12.20%
Percent by which value assigned to terminal growth rate must change in order to result in impairment	(1.20%)
Percent by which value assigned to discount rate must change in order to result in an impairment	(0.80%)
Software
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets and goodwill	€ 294	€ 261	€ 274
Software | Accumulated amortisation
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Amortisation expense	94	83	75
Intangible assets and goodwill	€ (426)	(360)	(297)
Customer relationships
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Useful lives of intangible assets other than goodwill	20 years
Intangible assets and goodwill	€ 123	134	144
Customer relationships | Accumulated amortisation
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Amortisation expense	10	10	9
Intangible assets and goodwill	€ (71)	(61)	(53)
Non-TCCC franchise intangible
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Useful lives of intangible assets other than goodwill	20 years
Intangible assets and goodwill	€ 94	135	144
Non-TCCC franchise intangible | Accumulated amortisation
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Amortisation expense	35	8	5
Intangible assets and goodwill	(48)	(13)	(5)
Franchise intangible | Nonsignificant cash-generating units
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets and goodwill	1,349	1,369
Goodwill
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets and goodwill	4,514	4,600	4,623
Goodwill | Nonsignificant cash-generating units
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets and goodwill	370	380
Goodwill | Accumulated amortisation
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Amortisation expense	0	0
Intangible assets and goodwill	€ 0	€ 0	€ 0
Low
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Terminal growth rate (or less)	1.60%
Low | Software
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Useful lives of intangible assets other than goodwill	5 years
High
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Terminal growth rate (or less)	4.50%
High | Software
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Useful lives of intangible assets other than goodwill	7 years
TCCC franchise intangible
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Agreement term	10 years
Renewal term	10 years

Intangible assets and goodwil_3

Intangible assets and goodwill - Summary of the Carrying Amounts of Intangible Assets and Goodwill (Details) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Total intangibles
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance at beginning of period	€ 12,505	€ 12,639
Balance at end of period	12,395	12,505	€ 12,639
Total intangibles | Cost:
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance at beginning of period	12,946	12,994
Additions	156	104
Disposals	(27)	(28)
Transfers and reclassifications	(2)	12
Currency translation adjustments	(133)	(136)
Balance at end of period	12,940	12,946	12,994
Total intangibles | Accumulated amortisation
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance at beginning of period	(441)	(355)
Amortisation expense	(139)	(101)
Disposals	27	22
Currency translation adjustments	8	(7)
Balance at end of period	(545)	(441)	(355)
TCCC franchise intangible
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance at beginning of period	11,874	12,008
Balance at end of period	11,758	11,874	12,008
TCCC franchise intangible | Cost:
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance at beginning of period	11,874	12,008
Additions	0	0
Disposals	0	0
Transfers and reclassifications	0	0
Currency translation adjustments	(116)	(134)
Balance at end of period	11,758	11,874	12,008
TCCC franchise intangible | Accumulated amortisation
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance at beginning of period	0	0
Amortisation expense	0	0
Disposals	0	0
Currency translation adjustments	0	0
Balance at end of period	0	0	0
Brands
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance at beginning of period	32	22
Balance at end of period	32	32	22
Brands | Cost:
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance at beginning of period	39	22
Additions	0	0
Disposals	0	0
Transfers and reclassifications	0	11
Currency translation adjustments	(7)	6
Balance at end of period	32	39	22
Brands | Accumulated amortisation
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance at beginning of period	(7)	0
Amortisation expense	0	0
Disposals	0	0
Currency translation adjustments	7	(7)
Balance at end of period	0	(7)	0
Software
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance at beginning of period	261	274
Balance at end of period	294	261	274
Software | Cost:
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance at beginning of period	621	571
Additions	64	40
Disposals	(27)	(27)
Transfers and reclassifications	63	39
Currency translation adjustments	(1)	(2)
Balance at end of period	720	621	571
Software | Accumulated amortisation
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance at beginning of period	(360)	(297)
Amortisation expense	(94)	(83)	(75)
Disposals	27	22
Currency translation adjustments	1	(2)
Balance at end of period	(426)	(360)	(297)
Customer relationships
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance at beginning of period	134	144
Balance at end of period	123	134	144
Customer relationships | Cost:
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance at beginning of period	195	197
Additions	0	1
Disposals	0	0
Transfers and reclassifications	0	0
Currency translation adjustments	(1)	(3)
Balance at end of period	194	195	197
Customer relationships | Accumulated amortisation
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance at beginning of period	(61)	(53)
Amortisation expense	(10)	(10)	(9)
Disposals	0	0
Currency translation adjustments	0	2
Balance at end of period	(71)	(61)	(53)
Non-TCCC franchise intangible
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance at beginning of period	135	144
Balance at end of period	94	135	144
Non-TCCC franchise intangible | Cost:
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance at beginning of period	148	149
Additions	0	0
Disposals	0	0
Transfers and reclassifications	0	0
Currency translation adjustments	(6)	(1)
Balance at end of period	142	148	149
Non-TCCC franchise intangible | Accumulated amortisation
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance at beginning of period	(13)	(5)
Amortisation expense	(35)	(8)	(5)
Disposals	0	0
Currency translation adjustments	0	0
Balance at end of period	(48)	(13)	(5)
Assets under construction
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance at beginning of period	69	47
Balance at end of period	94	69	47
Assets under construction | Cost:
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance at beginning of period	69	47
Additions	92	63
Disposals	0	(1)
Transfers and reclassifications	(65)	(38)
Currency translation adjustments	(2)	(2)
Balance at end of period	94	69	47
Assets under construction | Accumulated amortisation
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance at beginning of period	0	0
Amortisation expense	0	0
Disposals	0	0
Currency translation adjustments	0	0
Balance at end of period	0	0	0
Goodwill
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance at beginning of period	4,600	4,623
Balance at end of period	4,514	4,600	4,623
Goodwill | Cost:
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance at beginning of period	4,600	4,623
Additions	0	0
Disposals	0	0
Transfers and reclassifications	0	0
Currency translation adjustments	(86)	(23)
Balance at end of period	4,514	4,600	4,623
Goodwill | Accumulated amortisation
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Balance at beginning of period	0	0
Amortisation expense	0	0
Disposals	0	0
Currency translation adjustments	0	0
Balance at end of period	€ 0	€ 0	€ 0

Intangible assets and goodwil_4

Intangible assets and goodwill - Summary of Intangible Assets and Goodwill Attributable to Significant Cash-Generating Units (Details) - EUR (€) € in Millions	Dec. 31, 2023	Dec. 31, 2022
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets	€ 12,395	€ 12,505
Goodwill	4,514	4,600
Iberia
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets	4,289	4,289
Goodwill	1,275	1,275
Australia
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets	2,596	2,690
Goodwill	1,397	1,450
Great Britain
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets	1,680	1,646
Goodwill	200	200
Germany
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets	1,060	1,060
Goodwill	748	748
Pacfic
Disclosure of reconciliation of changes in intangible assets and goodwill [line items]
Intangible assets	816	849
Goodwill	€ 524	€ 547

Intangible assets and goodwil_5

Intangible assets and goodwill - Summary of Pre-tax Discount Rates Attributable to Significant Cash-Generating Units (Details)	Dec. 31, 2023	Dec. 31, 2022
Iberia
Disclosure of information for cash-generating units [line items]
Discount rate applied to cash flow projections	9.30%	8.70%
Australia
Disclosure of information for cash-generating units [line items]
Discount rate applied to cash flow projections	11.10%	9.10%
Great Britain
Disclosure of information for cash-generating units [line items]
Discount rate applied to cash flow projections	9.80%	9.30%
Germany
Disclosure of information for cash-generating units [line items]
Discount rate applied to cash flow projections	10.10%	7.90%
Pacfic
Disclosure of information for cash-generating units [line items]
Discount rate applied to cash flow projections	11.20%	9.70%

Property, plant and equipment -

Property, plant and equipment - Summary of Estimated Useful Lives (Details)	12 Months Ended
	Dec. 31, 2023
Low | Buildings and improvements
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives (years)	10 years
Low | Machinery, equipment and containers
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives (years)	3 years
Low | Cold drink equipment
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives (years)	2 years
Low | Vehicle fleet
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives (years)	3 years
Low | Furniture and office equipment
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives (years)	3 years
High | Buildings and improvements
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives (years)	40 years
High | Machinery, equipment and containers
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives (years)	20 years
High | Cold drink equipment
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives (years)	12 years
High | Vehicle fleet
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives (years)	12 years
High | Furniture and office equipment
Disclosure of detailed information about property, plant and equipment [line items]
Useful lives (years)	10 years

Property, plant and equipment_2

Property, plant and equipment - Summary of Movement (Details) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment beginning of period	€ 5,201	€ 5,248
Property, plant and equipment end of period	5,344	5,201
Cost:
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment beginning of period	8,763	8,360
Additions	889	785
Disposals	(360)	(249)
Assets held for sale		(63)
Transfers and reclassifications	0	1
Currency translation adjustments	(69)	(71)
Property, plant and equipment end of period	9,223	8,763
Accumulated depreciation:
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment beginning of period	(3,562)	(3,112)
Depreciation expense	(653)	(715)
Disposals	325	234
Assets held for sale		19
Transfers and reclassifications	2	1
Currency translation adjustments	9	11
Property, plant and equipment end of period	(3,879)	(3,562)
Land
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment beginning of period	648	663
Property, plant and equipment end of period	657	648
Land | Cost:
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment beginning of period	648	663
Additions	20	1
Disposals	(1)	(3)
Assets held for sale		(29)
Transfers and reclassifications	2	27
Currency translation adjustments	(12)	(11)
Property, plant and equipment end of period	657	648
Land | Accumulated depreciation:
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment beginning of period	0	0
Depreciation expense	0	0
Disposals	0	0
Assets held for sale		0
Transfers and reclassifications	0	0
Currency translation adjustments	0	0
Property, plant and equipment end of period	0	0
Buildings and improvements
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment beginning of period	1,658	1,663
Property, plant and equipment end of period	1,634	1,658
Buildings and improvements | Cost:
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment beginning of period	2,501	2,429
Additions	71	131
Disposals	(44)	(28)
Assets held for sale		(26)
Transfers and reclassifications	84	37
Currency translation adjustments	(26)	(42)
Property, plant and equipment end of period	2,586	2,501
Buildings and improvements | Accumulated depreciation:
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment beginning of period	(843)	(766)
Depreciation expense	(137)	(128)
Disposals	28	19
Assets held for sale		10
Transfers and reclassifications	0	0
Currency translation adjustments	0	22
Property, plant and equipment end of period	(952)	(843)
Machinery, equipment and containers
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment beginning of period	1,985	2,105
Property, plant and equipment end of period	2,042	1,985
Machinery, equipment and containers | Cost:
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment beginning of period	3,723	3,578
Additions	271	221
Disposals	(214)	(103)
Assets held for sale		(8)
Transfers and reclassifications	124	75
Currency translation adjustments	(18)	(40)
Property, plant and equipment end of period	3,886	3,723
Machinery, equipment and containers | Accumulated depreciation:
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment beginning of period	(1,738)	(1,473)
Depreciation expense	(318)	(380)
Disposals	204	105
Assets held for sale		9
Transfers and reclassifications	3	3
Currency translation adjustments	5	(2)
Property, plant and equipment end of period	(1,844)	(1,738)
Cold drink equipment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment beginning of period	385	395
Property, plant and equipment end of period	370	385
Cold drink equipment | Cost:
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment beginning of period	1,110	1,026
Additions	73	65
Disposals	(47)	(49)
Assets held for sale		0
Transfers and reclassifications	34	36
Currency translation adjustments	(9)	32
Property, plant and equipment end of period	1,161	1,110
Cold drink equipment | Accumulated depreciation:
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment beginning of period	(725)	(631)
Depreciation expense	(112)	(127)
Disposals	43	49
Assets held for sale		0
Transfers and reclassifications	(1)	(2)
Currency translation adjustments	4	(14)
Property, plant and equipment end of period	(791)	(725)
Vehicle fleet
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment beginning of period	144	147
Property, plant and equipment end of period	182	144
Vehicle fleet | Cost:
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment beginning of period	297	298
Additions	101	59
Disposals	(51)	(58)
Assets held for sale		0
Transfers and reclassifications	3	2
Currency translation adjustments	(1)	(4)
Property, plant and equipment end of period	349	297
Vehicle fleet | Accumulated depreciation:
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment beginning of period	(153)	(151)
Depreciation expense	(61)	(58)
Disposals	47	53
Assets held for sale		0
Transfers and reclassifications	0	0
Currency translation adjustments	0	3
Property, plant and equipment end of period	(167)	(153)
Furniture and office equipment
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment beginning of period	76	69
Property, plant and equipment end of period	70	76
Furniture and office equipment | Cost:
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment beginning of period	179	160
Additions	9	21
Disposals	(3)	(8)
Assets held for sale		0
Transfers and reclassifications	12	8
Currency translation adjustments	(2)	(2)
Property, plant and equipment end of period	195	179
Furniture and office equipment | Accumulated depreciation:
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment beginning of period	(103)	(91)
Depreciation expense	(25)	(22)
Disposals	3	8
Assets held for sale		0
Transfers and reclassifications	0	0
Currency translation adjustments	0	2
Property, plant and equipment end of period	(125)	(103)
Assets under construction
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment beginning of period	305	206
Property, plant and equipment end of period	389	305
Assets under construction | Cost:
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment beginning of period	305	206
Additions	344	287
Disposals	0	0
Assets held for sale		0
Transfers and reclassifications	(259)	(184)
Currency translation adjustments	(1)	(4)
Property, plant and equipment end of period	389	305
Assets under construction | Accumulated depreciation:
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment beginning of period	0	0
Depreciation expense	0	0
Disposals	0	0
Assets held for sale		0
Transfers and reclassifications	0	0
Currency translation adjustments	0	0
Property, plant and equipment end of period	€ 0	€ 0

Property, plant and equipment_3

Property, plant and equipment - Right-to-Use Assets (Details) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets	€ 681	€ 683
Additions to right-of-use assets	159	156
Buildings and improvements
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets	427	465
Additions to right-of-use assets	67	63
Vehicle fleet
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets	171	133
Additions to right-of-use assets	58	57
Machinery, equipment and containers
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets	81	82
Additions to right-of-use assets	32	34
Furniture and office equipment
Disclosure of detailed information about property, plant and equipment [line items]
Right-of-use assets	2	3
Additions to right-of-use assets	€ 2	€ 2

Property, plant and equipment_4

Property, plant and equipment - Narrative (Details) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of detailed information about property, plant and equipment [abstract]
Additions to right-of-use assets	€ 192	€ 208
Expense relating to low value and short-term leases	24	24
Value of lease extension and termination options, right-of-use assets	17	35
Expense relating to variable lease payments not included in measurement of lease liabilities	€ 157	€ 153

Inventories (Details)

Inventories (Details) - EUR (€) € in Millions	Dec. 31, 2023	Dec. 31, 2022
Inventories [Abstract]
Finished goods	€ 750	€ 777
Raw materials and supplies	449	452
Spare parts and other	157	151
Total inventories	€ 1,356	€ 1,380

Inventories - Narrative (Detail

Inventories - Narrative (Details) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Inventories [Abstract]
Write-down of inventories	€ 59	€ 41	€ 41

Trade accounts receivable - Nar

Trade accounts receivable - Narrative (Details) - Credit risk	12 Months Ended
	Dec. 31, 2023
Low
Disclosure Of Trade Receivables [Line Items]
Accounts receivable term	30 days
High
Disclosure Of Trade Receivables [Line Items]
Accounts receivable term	60 days

Trade accounts receivable - Sum

Trade accounts receivable - Summary of Trade Accounts Receivable Outstanding (Details) - EUR (€) € in Millions	Dec. 31, 2023	Dec. 31, 2022
Disclosure Of Trade Receivables [Line Items]
Total trade accounts receivable	€ 2,547	€ 2,466
Trade accounts receivable, gross
Disclosure Of Trade Receivables [Line Items]
Total trade accounts receivable	2,601	2,523
Allowance for doubtful accounts
Disclosure Of Trade Receivables [Line Items]
Total trade accounts receivable	€ (54)	€ (57)

Trade accounts receivable - S_2

Trade accounts receivable - Summary of Aging of Trade Accounts Receivable, Net of Allowance for Doubtful Accounts (Details) - Trade receivables - EUR (€) € in Millions	Dec. 31, 2023	Dec. 31, 2022
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets	€ 2,547	€ 2,466
Not past due
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets	2,348	2,287
Past due 1 – 30 days
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets	142	102
Past due 31 – 60 days
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets	16	30
Past due 61 – 90 days
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets	7	15
Past due 91 – 120 days
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets	9	14
Past due 121+ days
Disclosure of financial assets that are either past due or impaired [line items]
Financial assets	€ 25	€ 18

Trade accounts receivable - S_3

Trade accounts receivable - Summary of Allowance For Doubtful Accounts (Details) - Trade receivables - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Changes in allowance account for credit losses of financial assets [abstract]
Financial assets at beginning of period	€ 2,466
Financial assets at end of period	2,547	€ 2,466
Allowance for doubtful accounts
Changes in allowance account for credit losses of financial assets [abstract]
Financial assets at beginning of period	(57)	(49)
Provision for impairment recognised during the year	(9)	(15)
Receivables written off during the year as uncollectable	9	5
Reversals	2	1
Currency translation adjustments	1	1
Financial assets at end of period	€ (54)	€ (57)

Cash and cash equivalents and_3

Cash and cash equivalents and short term investments - Summary of Cash and Cash Equivalents Outstanding (Details) - EUR (€) € in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash and cash equivalents [abstract]
Cash at banks and on hand	€ 465	€ 491
Short-term deposits and securities	954	896
Total cash and cash equivalents	€ 1,419	€ 1,387	€ 1,407	€ 1,523

Cash and cash equivalents and_4

Cash and cash equivalents and short term investments - Cash and Cash Equivalents by Currency (Details) - EUR (€) € in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disclosure of Cash and Cash Equivalents by Currency [Line Items]
Cash and cash equivalents	€ 1,419	€ 1,387	€ 1,407	€ 1,523
Euro
Disclosure of Cash and Cash Equivalents by Currency [Line Items]
Cash and cash equivalents	662	477
British pound
Disclosure of Cash and Cash Equivalents by Currency [Line Items]
Cash and cash equivalents	305	190
US dollar
Disclosure of Cash and Cash Equivalents by Currency [Line Items]
Cash and cash equivalents	64	88
Norwegian krone
Disclosure of Cash and Cash Equivalents by Currency [Line Items]
Cash and cash equivalents	58	35
Swedish krona
Disclosure of Cash and Cash Equivalents by Currency [Line Items]
Cash and cash equivalents	26	21
Australian dollar
Disclosure of Cash and Cash Equivalents by Currency [Line Items]
Cash and cash equivalents	118	358
Indonesian rupiah
Disclosure of Cash and Cash Equivalents by Currency [Line Items]
Cash and cash equivalents	48	26
Papua New Guinean kina
Disclosure of Cash and Cash Equivalents by Currency [Line Items]
Cash and cash equivalents	42	102
Other
Disclosure of Cash and Cash Equivalents by Currency [Line Items]
Cash and cash equivalents	€ 96	€ 90

Cash and cash equivalents and_5

Cash and cash equivalents and short term investments - Short Term Investments (Details) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of Cash and Cash Equivalents by Currency [Line Items]
Short-term investments	€ 568	€ 256
Interest received	58	25	€ 12
Papua New Guinean kina
Disclosure of Cash and Cash Equivalents by Currency [Line Items]
Restricted cash and cash equivalents	42	102
Short-term investments	€ 33	€ 49

Fair values - Summary of Disclo

Fair values - Summary of Disclosure of Borrowings (Details) - EUR (€) € in Millions	Dec. 31, 2023	Dec. 31, 2022
Disclosure Of Fair Value Measurement [Line Items]
Borrowings	€ 11,396	€ 11,907
Level 2 | Fair value
Disclosure Of Fair Value Measurement [Line Items]
Borrowings	€ 10,580	€ 10,503

Fair values - Summary of the Fa

Fair values - Summary of the Fair Value of Assets and Liabilities (Details) - EUR (€) € in Millions	Dec. 31, 2023	Dec. 31, 2022
Assets at fair value:
Derivatives (Note 12)	€ 261	€ 448
Liabilities at fair value:
Derivatives (Note 12)	€ 268	€ 263

Hedging activities - Narrative

Hedging activities - Narrative (Details)	12 Months Ended
	Dec. 31, 2023 EUR (€)	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 EUR (€)
Disclosure of detailed information about hedges [line items]
Net gains recognized in other comprehensive income from cash flow hedges	€ (38,000,000)	€ (102,000,000)	€ (301,000,000)
Entity hedge ratio	1
Borrowings	€ 11,396,000,000	11,907,000,000
Gains (losses) on hedged item attributable to hedged risk, fair value hedges	106,000,000	146,000,000
Commodity contracts
Disclosure of detailed information about hedges [line items]
Notional amount of non-designated hedging instrument	215,000,000	29,000,000
Cash flow hedges
Disclosure of detailed information about hedges [line items]
Notional amount	4,488,000,000	5,199,000,000	4,221,000,000
Net gains recognized in other comprehensive income from cash flow hedges	5,000,000
Cash flow hedges | Interest rate and cross currency swaps
Disclosure of detailed information about hedges [line items]
Notional amount	1,306,000,000	2,079,000,000	2,225,000,000
Fair value hedges
Disclosure of detailed information about hedges [line items]
Notional amount	1,159,000,000	1,165,000,000	166,000,000
Borrowings	1,051,000,000	1,019,000,000
Net investment hedges
Disclosure of detailed information about hedges [line items]
Notional amount	0	0
Foreign currency contracts | Cash flow hedges
Disclosure of detailed information about hedges [line items]
Notional amount	1,100,000,000	1,700,000,000	1,100,000,000
Commodity contracts | Cash flow hedges
Disclosure of detailed information about hedges [line items]
Notional amount	1,400,000,000	€ 1,400,000,000	€ 900,000,000
Deal contingent foreign currency forwards | Cash flow hedges | Coca-Cola Beverages Philippines, Inc. (CBBPI)
Disclosure of detailed information about hedges [line items]
Notional amount	€ 636,000,000

Hedging activities - Fair Value

Hedging activities - Fair Value of Assets and Liabilities Related to Derivative Financial Instruments (Details) - EUR (€) € in Millions	Dec. 31, 2023	Dec. 31, 2022
Assets:
Derivatives (Note 12)	€ 261	€ 448
Liabilities:
Derivatives (Note 12)	268	263
Commodity contracts | Non-current derivative assets
Assets:
Derivatives (Note 12)	38	30
Commodity contracts | Current derivative assets
Assets:
Derivatives (Note 12)	94	133
Commodity contracts | Non-current derivative liabilities
Liabilities:
Derivatives (Note 12)	30	6
Commodity contracts | Current derivative liabilities
Liabilities:
Derivatives (Note 12)	58	47
Foreign currency contracts | Non-current derivative assets
Assets:
Derivatives (Note 12)	0	4
Foreign currency contracts | Current derivative assets
Assets:
Derivatives (Note 12)	20	27
Foreign currency contracts | Non-current derivative liabilities
Liabilities:
Derivatives (Note 12)	2	10
Foreign currency contracts | Current derivative liabilities
Liabilities:
Derivatives (Note 12)	36	29
Interest rate and cross currency swaps | Non-current derivative assets
Assets:
Derivatives (Note 12)	62	157
Interest rate and cross currency swaps | Current derivative assets
Assets:
Derivatives (Note 12)	47	97
Interest rate and cross currency swaps | Non-current derivative liabilities
Liabilities:
Derivatives (Note 12)	137	171
Deal contingent forwards | Current derivative liabilities
Liabilities:
Derivatives (Note 12)	€ 5	€ 0

Hedging activities - Schedule o

Hedging activities - Schedule of Notational Maturity Profile (Details) - Cash flow hedges - EUR (€) € in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about hedging instruments [line items]
Notional amount	€ 4,488	€ 5,199	€ 4,221
Deal contingent foreign currency forwards
Disclosure of detailed information about hedging instruments [line items]
Notional amount	636
Foreign currency contracts
Disclosure of detailed information about hedging instruments [line items]
Notional amount	1,105	1,723	1,074
Interest rate and cross currency swaps
Disclosure of detailed information about hedging instruments [line items]
Notional amount	1,306	2,079	2,225
Commodity contracts
Disclosure of detailed information about hedging instruments [line items]
Notional amount	1,441	1,397	922
Less than 1 year
Disclosure of detailed information about hedging instruments [line items]
Notional amount	3,047	2,886	1,622
Less than 1 year | Deal contingent foreign currency forwards
Disclosure of detailed information about hedging instruments [line items]
Notional amount	636
Less than 1 year | Foreign currency contracts
Disclosure of detailed information about hedging instruments [line items]
Notional amount	980	1,292	912
Less than 1 year | Interest rate and cross currency swaps
Disclosure of detailed information about hedging instruments [line items]
Notional amount	602	760	144
Less than 1 year | Commodity contracts
Disclosure of detailed information about hedging instruments [line items]
Notional amount	829	834	566
1 to 3 years
Disclosure of detailed information about hedging instruments [line items]
Notional amount	713	1,598	1,883
1 to 3 years | Deal contingent foreign currency forwards
Disclosure of detailed information about hedging instruments [line items]
Notional amount	0
1 to 3 years | Foreign currency contracts
Disclosure of detailed information about hedging instruments [line items]
Notional amount	125	431	162
1 to 3 years | Interest rate and cross currency swaps
Disclosure of detailed information about hedging instruments [line items]
Notional amount	0	604	1,365
1 to 3 years | Commodity contracts
Disclosure of detailed information about hedging instruments [line items]
Notional amount	588	563	356
3 to 5 years
Disclosure of detailed information about hedging instruments [line items]
Notional amount	529	416	0
3 to 5 years | Deal contingent foreign currency forwards
Disclosure of detailed information about hedging instruments [line items]
Notional amount	0
3 to 5 years | Foreign currency contracts
Disclosure of detailed information about hedging instruments [line items]
Notional amount	0	0	0
3 to 5 years | Interest rate and cross currency swaps
Disclosure of detailed information about hedging instruments [line items]
Notional amount	520	416	0
3 to 5 years | Commodity contracts
Disclosure of detailed information about hedging instruments [line items]
Notional amount	9	0	0
Over 5 years
Disclosure of detailed information about hedging instruments [line items]
Notional amount	199	299	716
Over 5 years | Deal contingent foreign currency forwards
Disclosure of detailed information about hedging instruments [line items]
Notional amount	0
Over 5 years | Foreign currency contracts
Disclosure of detailed information about hedging instruments [line items]
Notional amount	0	0	0
Over 5 years | Interest rate and cross currency swaps
Disclosure of detailed information about hedging instruments [line items]
Notional amount	184	299	716
Over 5 years | Commodity contracts
Disclosure of detailed information about hedging instruments [line items]
Notional amount	€ 15	€ 0	€ 0

Hedging activities - Reconcilia

Hedging activities - Reconciliation of cash flow hedge (Details) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about hedging instruments [line items]
Reserve of cash flow hedges beginning balance	€ 104	€ 151	€ 20
Net fair value gains/(losses) recognised in OCI	38	102	301
Net (gains)/losses reclassified from OCI to income statement or transferred to cost of inventories	(111)	(149)	(86)
Gains transferred to goodwill			(84)
Reserve of cash flow hedges ending balance	31	104	151
Inventories
Disclosure of detailed information about hedging instruments [line items]
Net (gains)/losses reclassified from OCI to income statement or transferred to cost of inventories	(83)
Foreign currency contracts
Disclosure of detailed information about hedging instruments [line items]
Reserve of cash flow hedges beginning balance	20	26	(1)
Net fair value gains/(losses) recognised in OCI	(26)	13	108
Net (gains)/losses reclassified from OCI to income statement or transferred to cost of inventories	10	(19)	3
Gains transferred to goodwill			(84)
Reserve of cash flow hedges ending balance	4	20	26
Commodity contracts
Disclosure of detailed information about hedging instruments [line items]
Reserve of cash flow hedges beginning balance	79	153	20
Net fair value gains/(losses) recognised in OCI	67	43	209
Net (gains)/losses reclassified from OCI to income statement or transferred to cost of inventories	(111)	(117)	(76)
Gains transferred to goodwill			0
Reserve of cash flow hedges ending balance	35	79	153
Interest rate and cross currency swaps
Disclosure of detailed information about hedging instruments [line items]
Reserve of cash flow hedges beginning balance	5	(28)	1
Net fair value gains/(losses) recognised in OCI	(3)	46	(16)
Net (gains)/losses reclassified from OCI to income statement or transferred to cost of inventories	(10)	(13)	(13)
Gains transferred to goodwill			0
Reserve of cash flow hedges ending balance	€ (8)	€ 5	€ (28)

Hedging activities - Schedule_2

Hedging activities - Schedule of Net Tax Effect of Cash Flow Hedges (Details) - Cash flow hedges - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items]
Net (gains)/losses reclassified from OCI to income statement or transferred to cost of inventories	€ 28	€ 149	€ 86
Cost of sales | Foreign currency contracts
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items]
Net (gains)/losses reclassified from OCI to income statement or transferred to cost of inventories	1	19	(3)
Cost of sales | Commodity contracts
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items]
Net (gains)/losses reclassified from OCI to income statement or transferred to cost of inventories	0	83	74
Selling and distribution expenses | Commodity contracts
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items]
Net (gains)/losses reclassified from OCI to income statement or transferred to cost of inventories	17	34	2
Finance costs | Interest rate and cross currency swaps
Disclosure of information about amounts that affected statement of comprehensive income as result of hedge accounting [line items]
Net (gains)/losses reclassified from OCI to income statement or transferred to cost of inventories	€ 10	€ 13	€ 13

Hedging activities - Fair Val_2

Hedging activities - Fair Value Hedges by Risk (Details) - Fair value hedges - EUR (€) € in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about hedges [line items]
Notional amount	€ 1,159	€ 1,165	€ 166
Interest rate and cross currency swaps
Disclosure of detailed information about hedges [line items]
Notional amount	1,159	1,165	166
Less than 1 year
Disclosure of detailed information about hedges [line items]
Notional amount	0	0	0
Less than 1 year | Interest rate and cross currency swaps
Disclosure of detailed information about hedges [line items]
Notional amount	0	0	0
1 to 3 years
Disclosure of detailed information about hedges [line items]
Notional amount	275	0	0
1 to 3 years | Interest rate and cross currency swaps
Disclosure of detailed information about hedges [line items]
Notional amount	275	0	0
3 to 5 years
Disclosure of detailed information about hedges [line items]
Notional amount	450	500	0
3 to 5 years | Interest rate and cross currency swaps
Disclosure of detailed information about hedges [line items]
Notional amount	450	500	0
Over 5 years
Disclosure of detailed information about hedges [line items]
Notional amount	434	665	166
Over 5 years | Interest rate and cross currency swaps
Disclosure of detailed information about hedges [line items]
Notional amount	€ 434	€ 665	€ 166

Hedging activities - Gains or l

Hedging activities - Gains or losses recognised from Fair Value Hedges (Details) - Fair value hedges - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about hedges [line items]
Net (gains)/losses reclassified from OCI to income statement or transferred to cost of inventories	€ (30)	€ 2	€ (2)
Finance costs | Interest rate and cross currency swaps
Disclosure of detailed information about hedges [line items]
Net (gains)/losses reclassified from OCI to income statement or transferred to cost of inventories	€ (30)	€ 2	€ (2)

Hedging activities - Schedule_3

Hedging activities - Schedule of Non-Hedge Designated Derivatives (Details) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about financial instruments [line items]
Gains (losses) on change in fair value of derivatives	€ (5)	€ (5)	€ 0
Non-operating items | Foreign currency contracts
Disclosure of detailed information about financial instruments [line items]
Gains (losses) on change in fair value of derivatives	€ (5)	€ (5)	€ 0

Borrowings and leases - Schedul

Borrowings and leases - Schedule of Borrowings Outstanding (Details) € in Millions, ¥ in Millions, kr in Millions, $ in Millions, $ in Millions	Dec. 31, 2023 EUR (€)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 AUD ($)	Dec. 31, 2023 NOK (kr)	Dec. 31, 2023 JPY (¥)	Dec. 31, 2022 EUR (€)
Disclosure of detailed information about borrowings [line items]
Total non-current borrowings	€ 10,096					€ 10,571
Total current borrowings	1,300					1,336
€500 million 1.125% Notes 2024
Disclosure of detailed information about borrowings [line items]
Notional amount	€ 500
Borrowings, interest rate	1.125%	1.125%	1.125%	1.125%	1.125%
Total non-current borrowings	€ 0					498
Total current borrowings	500					0
€350 million 2.375% Notes 2025
Disclosure of detailed information about borrowings [line items]
Notional amount	€ 350
Borrowings, interest rate	2.375%	2.375%	2.375%	2.375%	2.375%
Total non-current borrowings	€ 349					349
€250 million 2.750% Notes 2026
Disclosure of detailed information about borrowings [line items]
Notional amount	€ 250
Borrowings, interest rate	2.75%	2.75%	2.75%	2.75%	2.75%
Total non-current borrowings	€ 245					240
€600 million 1.75% Notes 2026
Disclosure of detailed information about borrowings [line items]
Notional amount	€ 600
Borrowings, interest rate	1.75%	1.75%	1.75%	1.75%	1.75%
Total non-current borrowings	€ 588					580
€400 million 1.50% Notes 2027
Disclosure of detailed information about borrowings [line items]
Notional amount	€ 400
Borrowings, interest rate	1.50%	1.50%	1.50%	1.50%	1.50%
Total non-current borrowings	€ 381					370
€250 million 1.50% Notes 2027
Disclosure of detailed information about borrowings [line items]
Notional amount	€ 250
Borrowings, interest rate	1.50%	1.50%	1.50%	1.50%	1.50%
Total non-current borrowings	€ 258					259
€500 million 1.75% Notes 2028
Disclosure of detailed information about borrowings [line items]
Notional amount	€ 500
Borrowings, interest rate	1.75%	1.75%	1.75%	1.75%	1.75%
Total non-current borrowings	€ 478					466
€750 million 0.20% Notes 2028
Disclosure of detailed information about borrowings [line items]
Notional amount	€ 750
Borrowings, interest rate	0.20%	0.20%	0.20%	0.20%	0.20%
Total non-current borrowings	€ 745					744
€500 million 1.125% Notes 2029
Disclosure of detailed information about borrowings [line items]
Notional amount	€ 500
Borrowings, interest rate	1.125%	1.125%	1.125%	1.125%	1.125%
Total non-current borrowings	€ 496					495
€500 million 1.875% Notes 2030
Disclosure of detailed information about borrowings [line items]
Notional amount	€ 500
Borrowings, interest rate	1.875%	1.875%	1.875%	1.875%	1.875%
Total non-current borrowings	€ 482					472
€700 million 3.875% Notes 2030
Disclosure of detailed information about borrowings [line items]
Notional amount	€ 700
Borrowings, interest rate	3.875%	3.875%	3.875%	3.875%	3.875%
Total non-current borrowings	€ 694					0
€500 million 0.70% Notes 2031
Disclosure of detailed information about borrowings [line items]
Notional amount	€ 500
Borrowings, interest rate	0.70%	0.70%	0.70%	0.70%	0.70%
Total non-current borrowings	€ 482					473
€800 million 0.00% Notes 2025
Disclosure of detailed information about borrowings [line items]
Notional amount	€ 800
Borrowings, interest rate	0%	0%	0%	0%	0%
Total non-current borrowings	€ 798					798
€700 million 0.50% Notes 2029
Disclosure of detailed information about borrowings [line items]
Notional amount	€ 700
Borrowings, interest rate	0.50%	0.50%	0.50%	0.50%	0.50%
Total non-current borrowings	€ 695					695
€1,000 million 0.875% Notes 2033
Disclosure of detailed information about borrowings [line items]
Notional amount	€ 1,000
Borrowings, interest rate	0.875%	0.875%	0.875%	0.875%	0.875%
Total non-current borrowings	€ 991					991
€750 million 1.50% Notes 2041
Disclosure of detailed information about borrowings [line items]
Notional amount	€ 750
Borrowings, interest rate	1.50%	1.50%	1.50%	1.50%	1.50%
Total non-current borrowings	€ 746					746
US$650 million 0.80% Notes 2024
Disclosure of detailed information about borrowings [line items]
Notional amount | $		$ 650
Borrowings, interest rate	0.80%	0.80%	0.80%	0.80%	0.80%
Total non-current borrowings	€ 0					608
Total current borrowings	€ 588					0
US$500 million 1.50% Notes 2027
Disclosure of detailed information about borrowings [line items]
Notional amount | $		$ 500
Borrowings, interest rate	1.50%	1.50%	1.50%	1.50%	1.50%
Total non-current borrowings	€ 451					466
A$100 million 3.50% Notes 2024
Disclosure of detailed information about borrowings [line items]
Notional amount | $			$ 100
Borrowings, interest rate	3.50%	3.50%	3.50%	3.50%	3.50%
Total non-current borrowings	€ 0					66
A$30 million 4.166% Notes 2025
Disclosure of detailed information about borrowings [line items]
Notional amount | $			$ 30
Borrowings, interest rate	4.166%	4.166%	4.166%	4.166%	4.166%
Total non-current borrowings	€ 19					21
A$20 million 4.25% Notes 2025
Disclosure of detailed information about borrowings [line items]
Notional amount | $			$ 20
Borrowings, interest rate	4.25%	4.25%	4.25%	4.25%	4.25%
Total non-current borrowings	€ 13					14
A$30 million 4.125% Notes 2026
Disclosure of detailed information about borrowings [line items]
Notional amount | $			$ 30
Borrowings, interest rate	4.125%	4.125%	4.125%	4.125%	4.125%
Total non-current borrowings	€ 19					20
A$50 million 4.155% Notes 2028
Disclosure of detailed information about borrowings [line items]
Notional amount | $			$ 50
Borrowings, interest rate	4.155%	4.155%	4.155%	4.155%	4.155%
Total non-current borrowings	€ 33					35
A$133 million 2.45% Notes 2029
Disclosure of detailed information about borrowings [line items]
Notional amount | $			$ 133
Borrowings, interest rate	2.45%	2.45%	2.45%	2.45%	2.45%
Total non-current borrowings	€ 83					86
A$50 million 4.20% Notes 2031
Disclosure of detailed information about borrowings [line items]
Notional amount | $			$ 50
Borrowings, interest rate	4.20%	4.20%	4.20%	4.20%	4.20%
Total non-current borrowings	€ 34					36
A$187 million 4.20% Notes 2031
Disclosure of detailed information about borrowings [line items]
Notional amount | $			$ 187
Borrowings, interest rate	4.20%	4.20%	4.20%	4.20%	4.20%
Total non-current borrowings	€ 128					135
A$13 million 4.20% Notes 2031
Disclosure of detailed information about borrowings [line items]
Notional amount | $			$ 13
Borrowings, interest rate	4.20%	4.20%	4.20%	4.20%	4.20%
Total non-current borrowings	€ 9					9
NOK1 billion 3.04% Notes 2028
Disclosure of detailed information about borrowings [line items]
Notional amount | kr				kr 1,000
Borrowings, interest rate	3.04%	3.04%	3.04%	3.04%	3.04%
Total non-current borrowings	€ 92					99
NOK750 million 2.75% Notes 2030
Disclosure of detailed information about borrowings [line items]
Notional amount | kr				kr 750
Borrowings, interest rate	2.75%	2.75%	2.75%	2.75%	2.75%
Total non-current borrowings	€ 68					73
US$50 million 2.6525% Notes 2030
Disclosure of detailed information about borrowings [line items]
Notional amount | $		$ 50
Borrowings, interest rate	2.6525%	2.6525%	2.6525%	2.6525%	2.6525%
Total non-current borrowings	€ 45					47
JPY10 billion 4.15% Notes 2036
Disclosure of detailed information about borrowings [line items]
Notional amount | ¥					¥ 10,000
Borrowings, interest rate	4.15%	4.15%	4.15%	4.15%	4.15%
Total non-current borrowings	€ 67					74
JPY12.3 billion 1.06% Notes 2037
Disclosure of detailed information about borrowings [line items]
Notional amount | ¥					¥ 12,300
Borrowings, interest rate	1.06%	1.06%	1.06%	1.06%	1.06%
Total non-current borrowings	€ 65					71
Lease obligations
Disclosure of detailed information about borrowings [line items]
Total non-current borrowings	542					535
€350 million 2.625% Notes 2023
Disclosure of detailed information about borrowings [line items]
Notional amount	€ 350
Borrowings, interest rate	2.625%	2.625%	2.625%	2.625%	2.625%
Total current borrowings	€ 0					350
US$850 million 0.50% Notes due 2023
Disclosure of detailed information about borrowings [line items]
Notional amount | $		$ 850
Borrowings, interest rate	0.50%	0.50%	0.50%	0.50%	0.50%
Total current borrowings	€ 0					797
A$100 million 3.5% Notes 2024
Disclosure of detailed information about borrowings [line items]
Notional amount | $			$ 100
Borrowings, interest rate	3.50%	3.50%	3.50%	3.50%	3.50%
Total current borrowings	€ 62					0
US$25 million 4.34% Notes 2023
Disclosure of detailed information about borrowings [line items]
Notional amount | $		$ 25
Borrowings, interest rate	4.34%	4.34%	4.34%	4.34%	4.34%
Total current borrowings	€ 0					24
US$25 million 4.34% Notes 2023
Disclosure of detailed information about borrowings [line items]
Notional amount | $		$ 25
Borrowings, interest rate	4.34%	4.34%	4.34%	4.34%	4.34%
Total current borrowings	€ 0					24
Lease obligations
Disclosure of detailed information about borrowings [line items]
Total current borrowings	€ 150					€ 141

Borrowings and leases - Narrati

Borrowings and leases - Narrative (Details)	12 Months Ended
	Dec. 31, 2023 EUR (€) banks	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 EUR (€)
Disclosure of detailed information about borrowings [line items]
Borrowings, unamortised financing fees	€ 30,000,000	€ 33,000,000
Interest expense on lease liabilities	17,000,000	14,000,000	€ 10,000,000
Borrowings	11,396,000,000	11,907,000,000
Cash outflow for leases	165,000,000	167,000,000	€ 149,000,000
Multi-currency credit facility
Disclosure of detailed information about borrowings [line items]
Credit facility	€ 1,800,000,000	€ 1,950,000,000
Number of credit facility banks | banks	12
Borrowings	€ 0

Borrowings and leases - Reconci

Borrowings and leases - Reconciliation of Movements of Liabilities to Cash Flows Arising from Financing Activities (Details) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Changes from financing cash flows
Proceeds from borrowings, net	€ 694	€ 0	€ 4,877
Changes in short-term borrowings	0	(285)	276
Repayments on third party borrowings	(1,159)	(938)	(950)
Payments of principal on lease obligations	(148)	(153)	(139)
Settlement of debt-related cross currency swaps	(69)	0	0
Interest paid	(182)	(130)	(97)
Dividends paid	(841)	(763)	(638)
Other financing activities	(16)	(20)	5
Other non-cash changes
Commercial papers issued	6,810	2,464
Commercial papers repayments	6,810	2,749
Total
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Beginning balance	11,902	13,111	7,246
Acquisition of API			1,648
Changes from financing cash flows
Proceeds from borrowings, net	694		4,877
Changes in short-term borrowings		(285)	276
Repayments on third party borrowings	(1,159)	(938)	(950)
Payments of principal on lease obligations	(148)	(153)	(139)
Settlement of debt-related cross currency swaps	69
Interest paid	(182)	(130)	(97)
Dividends paid	(841)	(763)	(638)
Other financing activities		(1)
Other non-cash changes
Amortisation of discount, premium and issue costs	5	3	(3)
Other non-cash movements	1,199	1,083	869
Movement as a result of fair value hedges	40	(161)	15
Changes in fair values	25	45	(98)
Currency translation	(102)	91	105
Reclassifications	0	0	0
Total changes	(400)	(1,209)	5,865
Ending balance	11,502	11,902	13,111
Current portion of borrowings
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Beginning balance	1,336	1,350	805
Acquisition of API			381
Changes from financing cash flows
Proceeds from borrowings, net	0		0
Changes in short-term borrowings		(285)	276
Repayments on third party borrowings	(1,159)	(938)	(950)
Payments of principal on lease obligations	(148)	(153)	(139)
Settlement of debt-related cross currency swaps	0
Interest paid	(17)	(14)	(10)
Dividends paid	0	0	0
Other financing activities		(1)
Other non-cash changes
Amortisation of discount, premium and issue costs	0	(1)	0
Other non-cash movements	93	34	39
Movement as a result of fair value hedges	0	11	6
Changes in fair values	0	0	0
Currency translation	(40)	0	33
Reclassifications	1,235	1,333	909
Total changes	(36)	(14)	545
Ending balance	1,300	1,336	1,350
Borrowings, less current portion
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Beginning balance	10,571	11,790	6,382
Acquisition of API			1,251
Changes from financing cash flows
Proceeds from borrowings, net	694		4,877
Changes in short-term borrowings		0	0
Repayments on third party borrowings	0	0	0
Payments of principal on lease obligations	0	0	0
Settlement of debt-related cross currency swaps	0
Interest paid	0	0	0
Dividends paid	0	0	0
Other financing activities		0
Other non-cash changes
Amortisation of discount, premium and issue costs	5	4	(3)
Other non-cash movements	98	171	83
Movement as a result of fair value hedges	40	(172)	9
Changes in fair values	0	0	0
Currency translation	(77)	111	100
Reclassifications	(1,235)	(1,333)	(909)
Total changes	(475)	(1,219)	5,408
Ending balance	10,096	10,571	11,790
Interest payable
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Beginning balance	74	78	57
Acquisition of API			0
Changes from financing cash flows
Proceeds from borrowings, net	0		0
Changes in short-term borrowings		0	0
Repayments on third party borrowings	0	0	0
Payments of principal on lease obligations	0	0	0
Settlement of debt-related cross currency swaps	0
Interest paid	(165)	(116)	(87)
Dividends paid	0	0	0
Other financing activities		0
Other non-cash changes
Amortisation of discount, premium and issue costs	0	0	0
Other non-cash movements	164	112	108
Movement as a result of fair value hedges	0	0	0
Changes in fair values	0	0	0
Currency translation	0	0	0
Reclassifications	0	0	0
Total changes	(1)	(4)	21
Ending balance	73	74	78
Derivatives (assets)/ liabilities to hedge borrowings
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Beginning balance	(83)	(110)	0
Acquisition of API			16
Changes from financing cash flows
Proceeds from borrowings, net	0		0
Changes in short-term borrowings		0	0
Repayments on third party borrowings	0	0	0
Payments of principal on lease obligations	0	0	0
Settlement of debt-related cross currency swaps	69
Interest paid	0	0	0
Dividends paid	0	0	0
Other financing activities		0
Other non-cash changes
Amortisation of discount, premium and issue costs	0	0	0
Other non-cash movements	0	0	0
Movement as a result of fair value hedges	0	0	0
Changes in fair values	25	45	(98)
Currency translation	17	(18)	(28)
Reclassifications	0	0	0
Total changes	111	27	(110)
Ending balance	28	(83)	(110)
Dividend payable
Disclosure of reconciliation of liabilities arising from financing activities [line items]
Beginning balance	4	3	2
Acquisition of API			0
Changes from financing cash flows
Proceeds from borrowings, net	0		0
Changes in short-term borrowings		0	0
Repayments on third party borrowings	0	0	0
Payments of principal on lease obligations	0	0	0
Settlement of debt-related cross currency swaps	0
Interest paid	0	0	0
Dividends paid	(841)	(763)	(638)
Other financing activities		0
Other non-cash changes
Amortisation of discount, premium and issue costs	0	0	0
Other non-cash movements	844	766	639
Movement as a result of fair value hedges	0	0	0
Changes in fair values	0	0	0
Currency translation	(2)	(2)	0
Reclassifications	0	0	0
Total changes	1	1	1
Ending balance	€ 5	€ 4	€ 3

Trade and other payables - Narr

Trade and other payables - Narrative (Details) - EUR (€) € in Billions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Trade And Other Payables [Line Items]
Marketing costs	€ 5.4	€ 5.2	€ 4.1
Low
Trade And Other Payables [Line Items]
Trade payables settlement period	70 days
High
Trade And Other Payables [Line Items]
Trade payables settlement period	80 days

Trade and other payables - Summ

Trade and other payables - Summary of Trade and Other Payables (Details) - EUR (€) € in Millions	Dec. 31, 2023	Dec. 31, 2022
Trade And Other Payables [Line Items]
Trade accounts payable	€ 2,306	€ 2,221
Accrued customer marketing costs	1,340	1,348
Accrued deposits	338	288
Accrued compensation and benefits	532	500
Accrued taxes(B)	280	253
Other accrued expenses	438	442
Total trade and other payables	5,234	5,052
Value added tax payables	59
Spain
Trade And Other Payables [Line Items]
Value added tax payables	59	57
Supply chain finance
Trade And Other Payables [Line Items]
Trade accounts payable	€ 622	€ 212

Post-employment benefits - Non-

Post-employment benefits - Non-current Employee Benefit Liabilities (Details) - EUR (€) € in Millions	Dec. 31, 2023	Dec. 31, 2022
Disclosure of defined benefit plans [line items]
Retirement benefit obligation	€ 158	€ 77
Other employee benefit liabilities	33	31
Employee benefit liabilities	191	108
GB
Disclosure of defined benefit plans [line items]
Retirement benefit obligation	77	0
Other employee benefit liabilities	0	0
Employee benefit liabilities	77	0
Rest of world
Disclosure of defined benefit plans [line items]
Retirement benefit obligation	81	77
Other employee benefit liabilities	33	31
Employee benefit liabilities	€ 114	€ 108

Post-employment benefits - Narr

Post-employment benefits - Narrative (Details) € in Millions, £ in Millions	1 Months Ended	12 Months Ended
	Sep. 30, 2023 EUR (€)	Dec. 31, 2023 EUR (€)	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 EUR (€)	Dec. 31, 2023 GBP (£)
Disclosure of defined benefit plans [line items]
Qualifying insurance policies, amount contributed to fair value of plan assets	€ 257
Other comprehensive income, before tax, gains (losses) on remeasurements of defined benefit plans	€ 26	€ 108	€ 45	€ (301)
Property assets contributed to partnership | £					£ 171
Contributions to pension plan		32	32	39
Estimate of contributions expected to be paid to plan for next annual reporting period		31
Current provision for other employee benefit liabilities		8	8
Non-current provision for other employee benefit liabilities		33	31
Contributions to defined contribution plan		81	€ 79	62
Partnership agreement
Disclosure of defined benefit plans [line items]
Contributions to pension plan		€ 11
Weighted average
Disclosure of defined benefit plans [line items]
Duration of defined benefit obligation		15 years	16 years
Great Britain
Disclosure of defined benefit plans [line items]
Other comprehensive income, before tax, gains (losses) on remeasurements of defined benefit plans		€ 104	€ 96	€ (237)
Additional future funding levels to plan		3%
Non-current provision for other employee benefit liabilities		€ 0	€ 0
Great Britain | Weighted average
Disclosure of defined benefit plans [line items]
Duration of defined benefit obligation		16 years	17 years

Post-employment benefits - Bene

Post-employment benefits - Benefit Costs (Details) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Post-employment benefits - Benefit Costs [Line Items]
Service cost	€ 14	€ 18	€ 26
Past service (credit)/cost	(7)	(2)	(23)
Net interest (income)/cost	(2)	(1)	2
Administrative expenses	1	1	2
Total cost	6	16	7
GB
Post-employment benefits - Benefit Costs [Line Items]
Service cost	0	0	10
Past service (credit)/cost	0	0	(29)
Net interest (income)/cost	(1)	(2)	1
Administrative expenses	0	0	1
Total cost	(1)	(2)	(17)
Rest of world
Post-employment benefits - Benefit Costs [Line Items]
Service cost	14	18	16
Past service (credit)/cost	(7)	(2)	6
Net interest (income)/cost	(1)	1	1
Administrative expenses	1	1	1
Total cost	€ 7	€ 18	€ 24

Post-employment benefits - Othe

Post-employment benefits - Other Comprehensive Income (Details) - EUR (€) € in Millions	1 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Post-employment benefits - Other Comprehensive Income [Line Items]
Actuarial loss/(gain) on defined benefit obligation arising during the period		€ 71	€ (837)	€ (66)
Return on plan assets less/(greater) than discount rate		37	882	(235)
Net charge to other comprehensive income	€ 26	108	45	(301)
GB
Post-employment benefits - Other Comprehensive Income [Line Items]
Actuarial loss/(gain) on defined benefit obligation arising during the period		39	(712)	(60)
Return on plan assets less/(greater) than discount rate		65	808	(177)
Net charge to other comprehensive income		104	96	(237)
Rest of world
Post-employment benefits - Other Comprehensive Income [Line Items]
Actuarial loss/(gain) on defined benefit obligation arising during the period		32	(125)	(6)
Return on plan assets less/(greater) than discount rate		(28)	74	(58)
Net charge to other comprehensive income		€ 4	€ (51)	€ (64)

Post-employment benefits - Be_2

Post-employment benefits - Benefit Obligation and Fair Value of Plan Assets (Details) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of benefit obligation:
Return on plan assets less/(greater) than discount rate	€ 37	€ 882	€ (235)
GB
Reconciliation of benefit obligation:
Return on plan assets less/(greater) than discount rate	65	808	(177)
Rest of world
Reconciliation of benefit obligation:
Return on plan assets less/(greater) than discount rate	(28)	74	(58)
Benefit obligation
Reconciliation of benefit obligation:
Net defined benefit liability (asset) at beginning of period	1,466	2,413
Service cost	14	18
Past service (credit)/cost	(7)	(2)
Interest costs on defined benefit obligation	(60)	(39)
Plan participants contribution	(36)	(28)
Actuarial loss/(gain) – experience	30	33
Actuarial (gain)/loss – demographic assumptions	(13)	2
Actuarial loss/(gain) – financial assumptions	54	(872)
Benefit payments	103	129
Administrative expenses	1	1
Currency translation adjustment	18	(65)
Net defined benefit liability (asset) at end of period	1,556	1,466	2,413
Benefit obligation | GB
Reconciliation of benefit obligation:
Net defined benefit liability (asset) at beginning of period	937	1,739
Service cost	0	0
Past service (credit)/cost	0	0
Interest costs on defined benefit obligation	(45)	(32)
Plan participants contribution	0	0
Actuarial loss/(gain) – experience	21	26
Actuarial (gain)/loss – demographic assumptions	(13)	2
Actuarial loss/(gain) – financial assumptions	31	(740)
Benefit payments	33	57
Administrative expenses	0	0
Currency translation adjustment	20	(65)
Net defined benefit liability (asset) at end of period	1,008	937	1,739
Benefit obligation | Rest of world
Reconciliation of benefit obligation:
Net defined benefit liability (asset) at beginning of period	529	674
Service cost	14	18
Past service (credit)/cost	(7)	(2)
Interest costs on defined benefit obligation	(15)	(7)
Plan participants contribution	(36)	(28)
Actuarial loss/(gain) – experience	9	7
Actuarial (gain)/loss – demographic assumptions	0	0
Actuarial loss/(gain) – financial assumptions	23	(132)
Benefit payments	70	72
Administrative expenses	1	1
Currency translation adjustment	(2)	0
Net defined benefit liability (asset) at end of period	548	529	674
Plan assets
Reconciliation of benefit obligation:
Net defined benefit liability (asset) at beginning of period	(1,524)	(2,504)
Interest costs on defined benefit obligation	62	40
Return on plan assets less/(greater) than discount rate	(37)	(882)
Plan participants contribution	36	28
Employer contributions	32	32
Benefit payments	(103)	(129)
Currency translation adjustment	(18)	69
Net defined benefit liability (asset) at end of period	(1,532)	(1,524)	(2,504)
Plan assets | GB
Reconciliation of benefit obligation:
Net defined benefit liability (asset) at beginning of period	(952)	(1,840)
Interest costs on defined benefit obligation	46	34
Return on plan assets less/(greater) than discount rate	(65)	(808)
Plan participants contribution	0	0
Employer contributions	11	11
Benefit payments	(33)	(57)
Currency translation adjustment	(20)	68
Net defined benefit liability (asset) at end of period	(931)	(952)	(1,840)
Plan assets | Rest of world
Reconciliation of benefit obligation:
Net defined benefit liability (asset) at beginning of period	(572)	(664)
Interest costs on defined benefit obligation	16	6
Return on plan assets less/(greater) than discount rate	28	(74)
Plan participants contribution	36	28
Employer contributions	21	21
Benefit payments	(70)	(72)
Currency translation adjustment	2	1
Net defined benefit liability (asset) at end of period	€ (601)	€ (572)	€ (664)

Post-employment benefits - Reti

Post-employment benefits - Retirement Benefit Status (Details) - EUR (€) € in Millions	Dec. 31, 2023	Dec. 31, 2022
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Present value of obligation	€ 1,556	€ 1,466
Fair value of assets	1,532	1,524
Net benefit status:	(24)	58
Retirement benefit surplus (Note 25)	134	135
Retirement benefit obligation	158	77
GB
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Present value of obligation	1,008	937
Fair value of assets	931	952
Net benefit status:	(77)	15
Retirement benefit surplus (Note 25)	0	15
Retirement benefit obligation	77	0
Rest of world
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Present value of obligation	548	529
Fair value of assets	601	572
Net benefit status:	53	43
Retirement benefit surplus (Note 25)	134	120
Retirement benefit obligation	€ 81	€ 77

Post-employment benefits - Actu

Post-employment benefits - Actuarial Assumptions, Financial Assumptions (Details)	Dec. 31, 2023	Dec. 31, 2022
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Discount rate	4.20%	4.50%
Rate of compensation increase	3.60%	3.60%
Rate of price inflation	2.90%	3%
GB
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Discount rate	4.50%	4.80%
Rate of price inflation	3.10%	3.30%
Rest of world
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Discount rate	3.60%	4%
Rate of compensation increase	3.60%	3.60%
Rate of price inflation	2.30%	2.40%

Post-employment benefits - Ac_2

Post-employment benefits - Actuarial Assumptions, Demographic Assumptions (Details) - year	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Retiring at the end of the reporting period, male	21	21.3
Retiring at the end of the reporting period, female	23.7	24
Retiring 15 years after the end of the reporting period, male	21.7	22.1
Retiring 15 years after the end of the reporting period, female	24.6	24.9
Retirement age	65 years
GB
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Retiring at the end of the reporting period, male	21.4	21.9
Retiring at the end of the reporting period, female	23.9	24.4
Retiring 15 years after the end of the reporting period, male	22.3	22.8
Retiring 15 years after the end of the reporting period, female	25	25.5
Rest of world
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Retiring at the end of the reporting period, male	19.8	19.8
Retiring at the end of the reporting period, female	23.2	23.1
Retiring 15 years after the end of the reporting period, male	20	20
Retiring 15 years after the end of the reporting period, female	23.5	23.5

Post-employment benefits - Defi

Post-employment benefits - Defined Benefit Obligation Sensitivity (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Discount rate
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Change in assumption	0.50%	0.50%
Change in assumption	0.50%	0.50%
Impact on defined benefit obligation %, Increase in assumption	(6.20%)	(6.50%)
Impact on defined benefit obligation %, Decrease in assumption	6.70%	7.10%
Discount rate | GB
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Impact on defined benefit obligation %, Increase in assumption	(7.30%)	(7.90%)
Impact on defined benefit obligation %, Decrease in assumption	7.90%	8.60%
Discount rate | Rest of world
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Impact on defined benefit obligation %, Increase in assumption	(4.10%)	(4.00%)
Impact on defined benefit obligation %, Decrease in assumption	4.40%	4.40%
Rate of compensation increase
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Change in assumption	0.50%	0.50%
Change in assumption	0.50%	0.50%
Impact on defined benefit obligation %, Increase in assumption	0.50%	0.60%
Impact on defined benefit obligation %, Decrease in assumption	(0.50%)	(0.50%)
Rate of compensation increase | Rest of world
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Impact on defined benefit obligation %, Increase in assumption	1.60%	1.60%
Impact on defined benefit obligation %, Decrease in assumption	(1.40%)	(1.40%)
Rate of price inflation
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Change in assumption	0.50%	0.50%
Change in assumption	0.50%	0.50%
Impact on defined benefit obligation %, Increase in assumption	4.10%	3.60%
Impact on defined benefit obligation %, Decrease in assumption	(4.00%)	(3.40%)
Rate of price inflation | GB
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Impact on defined benefit obligation %, Increase in assumption	4.60%	3.90%
Impact on defined benefit obligation %, Decrease in assumption	(4.50%)	(3.80%)
Rate of price inflation | Rest of world
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Impact on defined benefit obligation %, Increase in assumption	3.20%	3.10%
Impact on defined benefit obligation %, Decrease in assumption	(3.00%)	(2.90%)
Mortality rates
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Change in assumption, period	1 year	1 year
Change in assumption, period	1 year	1 year
Impact on defined benefit obligation %, Increase in assumption	2.10%	2.50%
Impact on defined benefit obligation %, Decrease in assumption	(2.20%)	(2.40%)
Mortality rates | GB
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Impact on defined benefit obligation %, Increase in assumption	2.30%	3%
Impact on defined benefit obligation %, Decrease in assumption	(2.50%)	(2.80%)
Mortality rates | Rest of world
Disclosure of sensitivity analysis for actuarial assumptions [line items]
Impact on defined benefit obligation %, Increase in assumption	1.70%	1.70%
Impact on defined benefit obligation %, Decrease in assumption	(1.80%)	(1.70%)

Post-employment benefits - Pens

Post-employment benefits - Pension Plan Assets (Details) - EUR (€) € / shares in Units, € in Millions	Dec. 31, 2023	Dec. 31, 2022
Equity securities:
Equity securities	€ 154	€ 185
Fixed-income securities:
Cash and other short-term investments	25	28
Other investments:
Real estate funds	255	274
Insurance contracts	463	207
Investment funds	77	76
Derivatives	12	6
Total	€ 1,532	1,524
Short-term investments, fair value per unit (in Euro per unit)	€ 1
GB
Other investments:
Total	€ 931	952
Rest of world
Other investments:
Total	601	572
Investments quoted in active markets | GB
Equity securities:
Equity securities	0	0
Fixed-income securities:
Cash and other short-term investments	19	23
Other investments:
Real estate funds	21	43
Insurance contracts	0	0
Investment funds	0	0
Derivatives	7	5
Total	934	1,202
Investments quoted in active markets | Rest of world
Equity securities:
Equity securities	154	185
Fixed-income securities:
Cash and other short-term investments	6	5
Other investments:
Real estate funds	26	15
Insurance contracts	0	0
Investment funds	0	5
Derivatives	0	0
Total	321	294
Unquoted investments | GB
Equity securities:
Equity securities	0	0
Fixed-income securities:
Cash and other short-term investments	0	0
Other investments:
Real estate funds	208	216
Insurance contracts	260	0
Investment funds	0	0
Derivatives	5	1
Total	(3)	(250)
Unquoted investments | Rest of world
Equity securities:
Equity securities	0	0
Fixed-income securities:
Cash and other short-term investments	0	0
Other investments:
Real estate funds	0	0
Insurance contracts	203	207
Investment funds	77	71
Derivatives	0	0
Total	280	278
Corporate bonds and notes
Fixed-income securities:
Fixed-income securities	211	56
Corporate bonds and notes | Investments quoted in active markets | GB
Fixed-income securities:
Fixed-income securities	117	0
Corporate bonds and notes | Investments quoted in active markets | Rest of world
Fixed-income securities:
Fixed-income securities	94	56
Corporate bonds and notes | Unquoted investments | GB
Fixed-income securities:
Fixed-income securities	0	0
Corporate bonds and notes | Unquoted investments | Rest of world
Fixed-income securities:
Fixed-income securities	0	0
Government bonds
Fixed-income securities:
Fixed-income securities	335	692
Government bonds | Investments quoted in active markets | GB
Fixed-income securities:
Fixed-income securities	770	1,131
Government bonds | Investments quoted in active markets | Rest of world
Fixed-income securities:
Fixed-income securities	41	28
Government bonds | Unquoted investments | GB
Fixed-income securities:
Fixed-income securities	(476)	(467)
Government bonds | Unquoted investments | Rest of world
Fixed-income securities:
Fixed-income securities	€ 0	€ 0

Equity - Narrative (Details)

Equity - Narrative (Details) € in Millions	1 Months Ended	12 Months Ended
	Dec. 31, 2022 EUR (€) shares	Dec. 31, 2023 EUR (€) vote shares	Dec. 31, 2022 EUR (€) shares	Dec. 31, 2021 EUR (€) shares	Dec. 31, 2020 EUR (€)
Disclosure of classes of share capital [line items]
Number of shares issued and fully paid (in shares) | shares	457,106,453	459,200,818	457,106,453	456,235,032
Issue of shares during the year		€ 42	€ 14	€ 28
Equity	€ 7,447	7,976	7,447	7,210	€ 6,025
Non-controlling interest	€ 0	0	€ 0	€ 177
PT Coca-Cola Bottling Indonesia | Samoa Breweries Limited (SBL)
Disclosure of classes of share capital [line items]
Proportion of ownership interests held by non-controlling interests				6.10%
PT Coca-Cola Bottling Indonesia
Disclosure of classes of share capital [line items]
Percentage of voting equity interests acquired	29.40%		29.40%
Consideration paid	€ 282		€ 282
Coca-Cola Amatil Limited | PT Coca-Cola Bottling Indonesia | The Coca-Cola Company
Disclosure of classes of share capital [line items]
Proportion of ownership interests held by non-controlling interests				29.40%
RSU and PSU
Disclosure of classes of share capital [line items]
Dividends accrued	3	€ 3	€ 3	€ 1
Share capital
Disclosure of classes of share capital [line items]
Number of shares issued related to share-based payments awards (in shares) | shares		2,094,365	871,421	1,589,522
Equity	5	€ 5	€ 5	€ 5	5
Share premium
Disclosure of classes of share capital [line items]
Issue of shares during the year		42	14	28
Equity	234	276	234	220	192
Merger reserves
Disclosure of classes of share capital [line items]
Equity	€ 287	€ 287	€ 287	€ 287	€ 287
Ordinary shares
Disclosure of classes of share capital [line items]
Number of votes per share (in votes) | vote		1

Equity - Rollforward of Shares

Equity - Rollforward of Shares and Share Capital (Details) - EUR (€) € in Millions, shares in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of classes of share capital [line items]
Beginning balance	€ 7,447
Closing balance	€ 7,976	€ 7,447
Share capital
Disclosure of classes of share capital [line items]
Beginning balance (in shares)	457	456	455
Beginning balance	€ 5	€ 5	€ 5
Issuance of shares (in shares)	2	1	1
Cancellation of shares (in shares)	0	0	0
Ending balance (in shares)	459	457	456
Closing balance	€ 5	€ 5	€ 5

Equity - Other Reserves (Detail

Equity - Other Reserves (Details) - EUR (€) € in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Equity [abstract]
Cash flow hedge reserve	€ 31	€ 104	€ 151	€ 20
Net investment hedge reserve	197	197	197
Foreign currency translation adjustment reserve	(974)	(728)	(509)
Reserve related to the acquisition of non-controlling interests	(79)	(79)	0
Other reserves	2	(1)	5
Other reserves	€ (823)	€ (507)	€ (156)

Equity - Dividends (Details)

Equity - Dividends (Details) - EUR (€) € / shares in Units, € in Millions	6 Months Ended						12 Months Ended
	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022	Jul. 01, 2022	Dec. 31, 2021	Jul. 02, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Equity [abstract]
Total dividend on ordinary shares paid	€ 533	€ 308	€ 507	€ 256	€ 638	€ 0	€ 841	€ 763	€ 638
Dividend rate (in euros per share)	€ 1.17	€ 0.67	€ 1.12	€ 0.56					€ 1.40

Total operating costs - Signifi

Total operating costs - Significant Cost Items by Nature (Details) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Analysis Of Income And Expense [Line Items]
Employee benefits	€ 2,433	€ 2,318	€ 2,016
Restructuring charges including accelerated depreciation	94	163	153
Total selling and distribution expenses	3,178	2,984	2,496
Total administrative expenses	1,310	1,250	1,074
Total operating expenses	4,488	4,234	3,570
Selling and distribution expenses
Analysis Of Income And Expense [Line Items]
Transportation costs	958	851	631
Employee benefits	1,116	1,110	975
Depreciation of property, plant and equipment, excluding restructuring	236	246	245
Amortisation of intangible assets	6	7	4
Restructuring charges including accelerated depreciation	0	1	45
Other selling and distribution expenses	862	769	596
Administrative expenses
Analysis Of Income And Expense [Line Items]
Transportation costs	3	16	2
Employee benefits	608	544	462
Depreciation of property, plant and equipment, excluding restructuring	93	99	76
Amortisation of intangible assets	130	94	83
Acquisition related costs	12	3	49
Restructuring charges including accelerated depreciation	85	143	91
Other administrative expenses	€ 379	€ 351	€ 311

Total operating costs - Restruc

Total operating costs - Restructuring Costs (Details) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Analysis Of Income And Expense [Line Items]
Increase in provision for restructuring programmes (Note 22)	€ 78	€ 115	€ 93
Amount of provision unused (Note 22)	(10)	(8)	(13)
Accelerated depreciation and non-cash costs	11	44	60
Other cash costs	15	12	13
Restructuring charges including accelerated depreciation	94	163	153
Cost of sales
Analysis Of Income And Expense [Line Items]
Restructuring charges including accelerated depreciation	9	19	17
Selling and distribution expenses
Analysis Of Income And Expense [Line Items]
Restructuring charges including accelerated depreciation	0	1	45
Administrative expenses
Analysis Of Income And Expense [Line Items]
Restructuring charges including accelerated depreciation	€ 85	€ 143	€ 91

Total operating costs - Narrati

Total operating costs - Narrative (Details) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of other provisions [line items]
Cost of restructuring	€ 94	€ 163	€ 153
Efficiency Programme
Disclosure of other provisions [line items]
Cost of restructuring	82
Accelerate Competitiveness
Disclosure of other provisions [line items]
Cost of restructuring	€ 7

Total operating costs - Employe

Total operating costs - Employee Costs (Details) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Analysis of income and expense [abstract]
Wages and salaries	€ 1,841	€ 1,769	€ 1,544
Social security costs	339	316	302
Pension and other employee benefits	253	233	170
Total employee costs	€ 2,433	€ 2,318	€ 2,016

Total operating costs - Average

Total operating costs - Average Number of Employees (Details) - employee	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of products and services [line items]
Average number of employees	32,800	33,100	29,700
Commercial
Disclosure of products and services [line items]
Average number of employees	11,600	12,500	10,900
Supply chain
Disclosure of products and services [line items]
Average number of employees	17,100	16,600	14,900
Support functions
Disclosure of products and services [line items]
Average number of employees	4,100	4,000	3,900

Total operating costs - Auditor

Total operating costs - Auditor Remuneration (Details) - EUR (€) € in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Analysis of income and expense [abstract]
Audit of parent company and consolidated financial statements	€ 3,759	€ 3,136	€ 4,751
Audit of the Company’s subsidiaries	6,269	6,248	5,493
Total audit	10,028	9,384	10,244
Audit related assurance services	1,019	1,002	1,234
Other assurance services	717	213	313
Total audit and audit-related assurance services	11,764	10,599	11,791
All other services	36	47	35
Total non-audit or non-audit-related assurance services	36	47	35
Total audit and all other fees	€ 11,800	€ 10,646	€ 11,826

Finance costs - Summary of Net

Finance costs - Summary of Net Finance Costs (Details) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of detailed information about financial instruments [line items]
Interest income	€ 65	€ 67	€ 43
Interest expense on external debt	(162)	(162)	(153)
Other finance cost	(23)	(19)	(19)
Total finance costs, net	(120)	(114)	(129)
Interest rate and cross currency swaps
Disclosure of detailed information about financial instruments [line items]
Interest income	47	50	27
Interest expense	€ 67	€ 31	€ 14

Related party transactions - Na

Related party transactions - Narrative (Details) € in Millions, $ in Billions	1 Months Ended		12 Months Ended
	Nov. 30, 2023 USD ($)	Dec. 31, 2022 EUR (€)	Dec. 31, 2024	Dec. 31, 2023 director	Dec. 31, 2022 EUR (€)	May 10, 2021 EUR (€)
Disclosure of transactions between related parties [line items]
Number of members of board of directors				17
Low | Forecast
Disclosure of transactions between related parties [line items]
Proportion of ownership interest in joint venture			60%
High | Forecast
Disclosure of transactions between related parties [line items]
Proportion of ownership interest in joint venture			100%
PT Coca-Cola Bottling Indonesia
Disclosure of transactions between related parties [line items]
Percentage of voting equity interests acquired		29.40%			29.40%
Consideration paid | €		€ 282			€ 282
Coca-Cola Beverages Philippines, Inc. (CBBPI)
Disclosure of transactions between related parties [line items]
Proportion of ownership interest in joint venture	100%
TCCC franchise intangible
Disclosure of transactions between related parties [line items]
Agreement term				10 years
Joint ventures
Disclosure of transactions between related parties [line items]
Proportion of ownership interest in joint venture	100%
Joint ventures | Coca-Cola Beverages Philippines, Inc. (CBBPI)
Disclosure of transactions between related parties [line items]
Consideration paid | $	$ 1.8
Joint ventures | Coca-Cola Europacific Partners Plc
Disclosure of transactions between related parties [line items]
Proportion of ownership interest in joint operation	60%
Joint ventures | Aboitiz Equity Ventures Inc. (AEV)
Disclosure of transactions between related parties [line items]
Proportion of ownership interest in joint operation	40%
TCCC | Entities with joint control or significant influence over entity
Disclosure of transactions between related parties [line items]
Percentage ownership				19.20%
Number of members of board of directors				2
Consideration paid, asset sale agreement | €						€ 182
TCCC | Entities with joint control or significant influence over entity | TCCC franchise intangible
Disclosure of transactions between related parties [line items]
Agreement term				10 years
Cobega Companies | Entities with joint control or significant influence over entity
Disclosure of transactions between related parties [line items]
Percentage ownership				20.80%
Number of members of board of directors				3
CCIP | Entities with joint control or significant influence over entity
Disclosure of transactions between related parties [line items]
Number of members of board of directors				5

Related party transactions - Tr

Related party transactions - Transactions with TCCC (Details) - TCCC - Entities with joint control or significant influence over entity - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of transactions between related parties [line items]
Amounts affecting revenue	€ 140	€ 117	€ 50
Amounts affecting cost of sales	(3,964)	(3,805)	(3,056)
Amounts affecting operating expenses	25	19	9
Amounts affecting finance costs, net	4	0	0
Total net amount affecting the consolidated income statement	(3,795)	(3,669)	€ (2,997)
Amounts due from TCCC	101	130
Amounts payable to TCCC	€ 229	€ 442

Related party transactions - _2

Related party transactions - Transactions with Cobega Companies (Details) € in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023 EUR (€)	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 EUR (€)	Dec. 31, 2023 CAD ($)	Dec. 31, 2022 CAD ($)
Associates
Disclosure of transactions between related parties [line items]
Total net amount affecting the consolidated income statement	€ (68)	€ (73)	€ (49)
Amounts receivable, related party transactions | $				$ 6	$ 6
Amounts payable to Cobega | $				2	9
Joint ventures
Disclosure of transactions between related parties [line items]
Total net amount affecting the consolidated income statement	(28)	(9)	(9)
Amounts payable to Cobega | $				7	0
Other related parties
Disclosure of transactions between related parties [line items]
Total net amount affecting the consolidated income statement	(85)	(85)	(52)
Amounts payable to Cobega | $				$ 10	$ 10
Joint ventures and other related parties
Disclosure of transactions between related parties [line items]
Total net amount affecting the consolidated income statement	(181)	(167)	(110)
Cobega Companies | Entities with joint control or significant influence over entity
Disclosure of transactions between related parties [line items]
Amounts affecting revenue	1	2	1
Amounts affecting cost of sales	(69)	(76)	(49)
Amounts affecting operating expenses	(18)	(17)	(11)
Total net amount affecting the consolidated income statement	(86)	(91)	€ (59)
Amounts receivable, related party transactions	16	3
Amounts payable to Cobega	€ 22	€ 24

Related party transactions - _3

Related party transactions - Transactions with Associates, Joint Ventures and Other Related Parties (Details) - CAD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Associates
Disclosure of transactions between related parties [line items]
Amounts receivable, related party transactions	$ 6	$ 6
Amounts payable to TCCC	2	9
Joint ventures
Disclosure of transactions between related parties [line items]
Amounts payable to TCCC	7	0
Other related parties
Disclosure of transactions between related parties [line items]
Amounts payable to TCCC	$ 10	$ 10

Related party transactions - _4

Related party transactions - Transactions with Key Personnel (Details) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Related Party [Abstract]
Salaries and other short-term employee benefits	€ 31	€ 30	€ 22
Share-based payments	20	15	7
Total	€ 51	€ 45	€ 29

Income taxes - Components of In

Income taxes - Components of Income Tax (Details) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current tax:
Current tax charge	€ 555	€ 460	€ 323
Adjustment in respect of current tax from prior periods	(10)	(37)	(53)
Total current tax	545	423	270
Deferred tax:
Relating to the origination and reversal of temporary differences	11	35	6
Adjustment in respect of deferred income tax from prior periods	(22)	(22)	(9)
Relating to changes in tax rates or the imposition of new taxes	0	0	127
Total deferred tax	(11)	13	124
Income tax charge per the consolidated income statement	€ 534	€ 436	€ 394

Income taxes - Taxes on Items R

Income taxes - Taxes on Items Recognised in Other Comprehensive Income and Directly in Equity (Details) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Taxes charged/(credited) to OCI:
Deferred tax on net gain/loss on revaluation of cash flow hedges	€ 11	€ (20)	€ 63
Deferred tax on net gain/loss on pension plan remeasurements	(43)	(11)	63
Current tax on net gain/loss on pension plan remeasurements	8	0	1
Total taxes charged/(credited) to OCI	(24)	(31)	127
Taxes charged/(credited) to equity:
Deferred tax charge/(credit): cash flow hedges	(31)	0	0
Deferred tax charge/(credit): share-based compensation	(1)	(2)	(3)
Current tax charge/(credit): share-based compensation	0	(8)	0
Total taxes charged/(credited) to equity	€ (32)	€ (10)	€ (3)

Income taxes - Narrative (Detai

Income taxes - Narrative (Details) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Effective tax rate	24.20%	22.30%	28.50%
Deferred tax liability (asset)	€ 3,377	€ 3,492	€ 3,557
Temporary differences associated with investments in subsidiaries for which a deferred tax liability has not been recognized	244	309
Tax provisions for audit	€ 175	€ 122

Income taxes - Reconciliation o

Income taxes - Reconciliation of Income Tax Provision (Details) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of geographical areas [line items]
Accounting profit before tax from continuing operations	€ 2,203	€ 1,957	€ 1,382
Tax expense at the UK statutory rate	518	371	262
Taxation of foreign operations, net	43	115	72
Non-deductible expense items for tax purposes	15	2	2
Tax effect from change in tax rate	0	0	127
Deferred taxes not recognised	(10)	7	(7)
Adjustment in respect of prior periods	(32)	(59)	(62)
Income tax charge per the consolidated income statement	€ 534	€ 436	394
UK
Disclosure of geographical areas [line items]
Tax effect from change in tax rate			123
Netherlands
Disclosure of geographical areas [line items]
Tax effect from change in tax rate			2
Indonesia
Disclosure of geographical areas [line items]
Tax effect from change in tax rate			€ 2

Income taxes - Rollforward of D

Income taxes - Rollforward of Deferred Income Taxes (Details) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period	€ 3,492	€ 3,557
Amount charged/(credited) to income statement (excluding effect of tax rate changes)	(11)	13
Amounts charged/(credited) directly to OCI	(32)	(31)
Amount charged/(credited) to equity	(32)	(2)
Acquired through business combinations		(2)
Balance sheet reclassifications	0	(4)
Effect of movements in foreign exchange	(40)	(39)
Deferred tax liability (asset) at end of period	3,377	3,492
Deferred tax assets and liabilities [abstract]
Deferred tax assets	(1)	(21)
Deferred tax liabilities	3,378	3,513
Franchise and other intangible assets
Changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period	3,254	3,285
Amount charged/(credited) to income statement (excluding effect of tax rate changes)	(14)	(4)
Amounts charged/(credited) directly to OCI	0	0
Amount charged/(credited) to equity	0	0
Acquired through business combinations		(4)
Balance sheet reclassifications	0	(1)
Effect of movements in foreign exchange	(49)	(22)
Deferred tax liability (asset) at end of period	3,191	3,254
Property, plant  and equipment
Changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period	236	251
Amount charged/(credited) to income statement (excluding effect of tax rate changes)	2	(11)
Amounts charged/(credited) directly to OCI	0	0
Amount charged/(credited) to equity	0	0
Acquired through business combinations		2
Balance sheet reclassifications	10	(2)
Effect of movements in foreign exchange	0	(4)
Deferred tax liability (asset) at end of period	248	236
Financial assets and liabilities
Changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period	17	36
Amount charged/(credited) to income statement (excluding effect of tax rate changes)	11	5
Amounts charged/(credited) directly to OCI	11	(20)
Amount charged/(credited) to equity	(31)	0
Acquired through business combinations		0
Balance sheet reclassifications	0	(1)
Effect of movements in foreign exchange	0	(3)
Deferred tax liability (asset) at end of period	8	17
Tax losses
Changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period	(11)	(14)
Amount charged/(credited) to income statement (excluding effect of tax rate changes)	0	7
Amounts charged/(credited) directly to OCI	0	0
Amount charged/(credited) to equity	0	0
Acquired through business combinations		0
Balance sheet reclassifications	0	(4)
Effect of movements in foreign exchange	0	0
Deferred tax liability (asset) at end of period	(11)	(11)
Employee and retiree benefit accruals
Changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period	(23)	(14)
Amount charged/(credited) to income statement (excluding effect of tax rate changes)	(15)	5
Amounts charged/(credited) directly to OCI	(43)	(11)
Amount charged/(credited) to equity	(1)	(2)
Acquired through business combinations		0
Balance sheet reclassifications	0	0
Effect of movements in foreign exchange	2	(1)
Deferred tax liability (asset) at end of period	(80)	(23)
Tax credits
Changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period	(12)	(12)
Amount charged/(credited) to income statement (excluding effect of tax rate changes)	(12)	0
Amounts charged/(credited) directly to OCI	0	0
Amount charged/(credited) to equity	0	0
Acquired through business combinations		0
Balance sheet reclassifications	0	0
Effect of movements in foreign exchange	0	0
Deferred tax liability (asset) at end of period	(24)	(12)
Other, net
Changes in deferred tax liability (asset) [abstract]
Deferred tax liability (asset) at beginning of period	31	25
Amount charged/(credited) to income statement (excluding effect of tax rate changes)	17	11
Amounts charged/(credited) directly to OCI	0	0
Amount charged/(credited) to equity	0	0
Acquired through business combinations		0
Balance sheet reclassifications	(10)	4
Effect of movements in foreign exchange	7	(9)
Deferred tax liability (asset) at end of period	€ 45	€ 31

Income taxes - Maturity Of Defe

Income taxes - Maturity Of Deferred Tax Losses and Credits (Details) - EUR (€) € in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Gross amount
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Tax losses expiring:	€ 1,394	€ 1,660	€ 1,803
Tax credits expiring:	92	101	145
Deductible temporary differences	17	79	53
Total	1,503	1,840	2,001
Tax effected
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Tax losses expiring:	265	289	310
Tax credits expiring:	92	101	145
Deductible temporary differences	4	20	11
Total	361	410	466
Within 10 years | Gross amount
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Tax credits expiring:	57	58	100
Within 10 years | Tax effected
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Tax credits expiring:	57	58	100
Beyond 10 years | Gross amount
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Tax losses expiring:	3	3	0
Tax credits expiring:	35	43	45
Beyond 10 years | Tax effected
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Tax losses expiring:	1	1	0
Tax credits expiring:	35	43	45
No time limit | Gross amount
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Tax losses expiring:	1,391	1,657	1,803
Deductible temporary differences	17	79	53
No time limit | Tax effected
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Tax losses expiring:	264	288	310
Deductible temporary differences	€ 4	€ 20	€ 11

Share-based payment plans - Nar

Share-based payment plans - Narrative (Details) € in Millions, shares in Millions	12 Months Ended
	Dec. 31, 2023 EUR (€) tranche	Dec. 31, 2023 shares $ / shares	Dec. 31, 2022 EUR (€)	Dec. 31, 2022 shares $ / shares	Dec. 31, 2021 EUR (€)	Dec. 31, 2021 shares $ / shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Compensation expense related to share-based payment plans | €	€ 57		€ 33		€ 17
Expense from equity-settled share-based payment transactions | €	€ 54		€ 33		€ 16
Expiration period	10 years
Weighted average share price (in USD per share) | $ / shares		$ 60.96		$ 51.21		$ 55.68
Share option
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of tranches for vesting | tranche	3
Vesting period	36 months
Restricted share units
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting period	36 months
Number of other equity instruments outstanding in share-based payment arrangement | shares		0.1		0.1		0.1
Weighted average grant date fair value (in USD per share) | $ / shares		$ 50.67		$ 42.74		$ 43.29
Grant date fair value – service and performance conditions (US$)
Disclosure of terms and conditions of share-based payment arrangement [line items]
Vesting period	36 months
Number of other equity instruments outstanding in share-based payment arrangement | shares		2.1		1.8		1.3
Weighted average grant date fair value (in USD per share) | $ / shares		$ 48.95		$ 41.65		$ 43.07
Weight of EPS performance condition	42.50%		42.50%		42.50%
Weight of ROIC performance condition	42.50%		42.50%		42.50%
Green house gas emission metric, percentage weighting	15%
ESPP
Disclosure of terms and conditions of share-based payment arrangement [line items]
Compensation expense related to share-based payment plans | €	€ 14		€ 3

Share-based payment plans - Act

Share-based payment plans - Activity of Share Option Activity (Details)	12 Months Ended
	Dec. 31, 2023 shares $ / shares	Dec. 31, 2022 shares $ / shares	Dec. 31, 2021 shares $ / shares
Share-Based Payment Arrangements [Abstract]
Beginning balance (in shares) | shares	2,272,000	2,758,000	4,051,000
Granted (in shares) | shares	0	0	0
Exercised (in shares) | shares	(1,352,000)	(484,000)	(1,290,000)
Forfeited, expired or cancelled (in shares) | shares	0	(2,000)	(3,000)
Ending balance (in shares) | shares	920,000	2,272,000	2,758,000
Options exercisable (in shares) | shares	920,000	2,272,000	2,758,000
Beginning balance (in USD per share) | $ / shares	$ 35.30	$ 34.19	$ 31.68
Granted (in USD per share) | $ / shares	0	0	0
Exercised (in USD per share) | $ / shares	33.86	29	26.33
Forfeited, expired or cancelled (in USD per share) | $ / shares	0	23.21	19.68
Ending balance (in USD per share) | $ / shares	37.42	35.30	34.19
Options exercisable (in USD per share) | $ / shares	$ 37.42	$ 35.30	$ 34.19

Share-based payment plans - Ran

Share-based payment plans - Range of Exercise Prices for Options Outstanding (Details)	12 Months Ended
	Dec. 31, 2023 shares $ / shares	Dec. 31, 2022 shares	Dec. 31, 2021 shares	Dec. 31, 2020 shares
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Options outstanding (in shares) | shares	920,000	2,272,000	2,758,000	4,051,000
Weighted average remaining life	1 year 7 months 6 days	2 years 2 months 12 days	2 years 11 months 1 day
15.01 to 25.00
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Options outstanding (in shares) | shares	0	0	151,000
Weighted average remaining life	0 years	0 years	10 months 6 days
15.01 to 25.00 | Low
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price of options outstanding (in USD per share)	$ 15.01
15.01 to 25.00 | High
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price of options outstanding (in USD per share)	$ 25
25.01 to 40.00
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Options outstanding (in shares) | shares	920,000	2,272,000	2,607,000
Weighted average remaining life	1 year 7 months 6 days	2 years 2 months 12 days	3 years 14 days
25.01 to 40.00 | Low
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price of options outstanding (in USD per share)	$ 25.01
25.01 to 40.00 | High
Disclosure of number and weighted average remaining contractual life of outstanding share options [line items]
Exercise price of options outstanding (in USD per share)	$ 40

Share-based payment plans - Key

Share-based payment plans - Key Assumptions for Grant-Date Fair Value (Details) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Grant date fair value – service conditions (US$)
Disclosure of terms and conditions of share-based payment arrangement [line items]
Grant date fair value, restricted share units (in USD per share)	$ 59.21	$ 45.43
Grant date fair value – service and performance conditions (US$)
Disclosure of terms and conditions of share-based payment arrangement [line items]
Grant date fair value, restricted share units (in USD per share)	$ 59.23	$ 45.44

Provisions, contingencies and_3

Provisions, contingencies and commitments - Disclosure of Provisions (Details) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Reconciliation of changes in other provisions [abstract]
Beginning balance	€ 170	€ 134
Additional provisions recognised	103	124
Unused amounts reversed	(20)	(13)
Utilised during the period	(94)	(76)
Translation	0	1
Ending balance	159	170
Non-current	45	55
Current	114	115
Restructuring provision
Reconciliation of changes in other provisions [abstract]
Beginning balance	137	103
Additional provisions recognised	78	115
Unused amounts reversed	(10)	(8)
Utilised during the period	(89)	(74)
Translation	0	1
Ending balance	116	137
Non-current	26
Current	90
Decommissioning provision
Reconciliation of changes in other provisions [abstract]
Beginning balance	24	20
Additional provisions recognised	1	7
Unused amounts reversed	(9)	(2)
Utilised during the period	(1)	(1)
Translation	0	0
Ending balance	15	24
Non-current	15
Current	0
Other Provisions
Reconciliation of changes in other provisions [abstract]
Beginning balance	9	11
Additional provisions recognised	24	2
Unused amounts reversed	(1)	(3)
Utilised during the period	(4)	(1)
Translation	0	0
Ending balance	28	€ 9
Non-current	4
Current	€ 24

Provisions, contingencies and_4

Provisions, contingencies and commitments - Narrative (Details) - EUR (€) € in Millions	1 Months Ended	12 Months Ended
	Nov. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Disclosure of other provisions [line items]
Purchase commitments		€ 200
Capital expenditure purchase orders		165
Minimum lease payments for lease agreements that have not yet commenced		23
Coca-Cola Beverages Philippines, Inc. (CBBPI)
Disclosure of other provisions [line items]
Proportion of ownership interest in joint venture	100%
Territorial authority | Guarantees
Disclosure of other provisions [line items]
Guarantees issued to authorities		1,127	€ 646
Third parties, other than territorial authorities | Guarantees
Disclosure of other provisions [line items]
Guarantees issued to authorities		€ 37	€ 29
Low | Leased Buildings | Decommissioning provision
Disclosure of other provisions [line items]
Settlement ranges for provisions		1 year
Low | Cold drink equipment | Decommissioning provision
Disclosure of other provisions [line items]
Settlement ranges for provisions		2 years
High | Leased Buildings | Decommissioning provision
Disclosure of other provisions [line items]
Settlement ranges for provisions		30 years
High | Cold drink equipment | Decommissioning provision
Disclosure of other provisions [line items]
Settlement ranges for provisions		9 years

Other Income (Details)

Other Income (Details) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disclosure of attribution of expenses by nature to their function [line items]
Other income	€ 107	€ 96	€ 0
Mineral rights
Disclosure of attribution of expenses by nature to their function [line items]
Disposals, intangible assets other than goodwill	35
Germany
Disclosure of attribution of expenses by nature to their function [line items]
Gain on sale of distribution centre in Great Britain	€ 54

Other current assets and asse_3

Other current assets and assets held for sale - Schedule of Other Current Assets (Details) - EUR (€) € in Millions	Dec. 31, 2023	Dec. 31, 2022
Subclassifications of assets, liabilities and equities [abstract]
Prepayments	€ 130	€ 180
VAT receivables	40	41
Coal royalties	0	96
Miscellaneous receivables	181	162
Total other current assets	€ 351	€ 479

Other current assets and asse_4

Other current assets and assets held for sale - Narrative (Details) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2023	Feb. 08, 2023	Dec. 31, 2021
Schedule of Other Assets [Line Items]
VAT receivables	€ 41	€ 40
Value added tax payables		59
Assets held for sale	94	22
Total intangibles
Schedule of Other Assets [Line Items]
Assets held for sale	40
Property, plant and equipment
Schedule of Other Assets [Line Items]
Assets held for sale	29
VAT assessment
Schedule of Other Assets [Line Items]
Loss contingency, damages sought, value			€ 250
Basque Region
Schedule of Other Assets [Line Items]
VAT receivables		25
Spain
Schedule of Other Assets [Line Items]
Value added tax payables	57	€ 59
Spanish tax authorities
Schedule of Other Assets [Line Items]
Value added tax receivables				€ 214
Value added tax paid (refund)	€ 252

Other non-current assets - Sche

Other non-current assets - Schedule of Other Non-Current Assets (Details) - EUR (€) € in Millions	Dec. 31, 2023	Dec. 31, 2022
Subclassifications of assets, liabilities and equities [abstract]
Retirement benefit surplus (Note 15)	€ 134	€ 135
Investments	39	35
Other	122	82
Total other non-current assets	€ 295	€ 252

Other non-current assets - Sc_2

Other non-current assets - Schedule of Non-Current Investments (Details) - EUR (€) € in Millions	Dec. 31, 2023	Dec. 31, 2022
Subclassifications of assets, liabilities and equities [abstract]
Investments accounted using equity method	€ 35	€ 33
Financial assets at fair value through other comprehensive income	4	2
Total investments	€ 39	€ 35

Financial risk management - Nar

Financial risk management - Narrative (Details) € in Millions	12 Months Ended
	Dec. 31, 2023 EUR (€) banks	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 EUR (€)
Disclosure of nature and extent of risks arising from financial instruments [line items]
Current derivative liabilities	€ 99	€ 76
Multi-currency credit facility
Disclosure of nature and extent of risks arising from financial instruments [line items]
Credit facility	€ 1,800	1,950
Number of credit facility banks | banks	12
Interest rate risk | Interest rate swap
Disclosure of nature and extent of risks arising from financial instruments [line items]
Notional amount	€ 1,123	1,146
Foreign currency contracts
Disclosure of nature and extent of risks arising from financial instruments [line items]
Percentage of anticipated commodity transaction exposures that are hedged	80%
Foreign currency contracts | Euro
Disclosure of nature and extent of risks arising from financial instruments [line items]
Change in risk variable, percent	10%
Change in risk, strengthens, gain (loss) on earnings and equity	€ 6	€ 29	€ (11)
Foreign currency contracts | Euro | Coca-Cola Beverages Philippines, Inc. (CBBPI)
Disclosure of nature and extent of risks arising from financial instruments [line items]
Change in risk, strengthens, gain (loss) on earnings and equity	€ 64
Commodity contracts
Disclosure of nature and extent of risks arising from financial instruments [line items]
Change in risk variable, percent	10%	10%	10%
Percentage of anticipated commodity transaction exposures that are hedged	80%
Commodity contracts | Swap contract
Disclosure of nature and extent of risks arising from financial instruments [line items]
Notional amount	€ 89
Hedged item, assets	13
Hedged item, liabilities	€ 52
Credit risk | Low
Disclosure of nature and extent of risks arising from financial instruments [line items]
Accounts receivable term	30 days
Credit risk | High
Disclosure of nature and extent of risks arising from financial instruments [line items]
Accounts receivable term	60 days
Credit risk | Trade and other payables
Disclosure of nature and extent of risks arising from financial instruments [line items]
Current derivative liabilities	€ 20	€ 25
Fixed interest rate | Interest rate risk
Disclosure of nature and extent of risks arising from financial instruments [line items]
Percentage of interest-bearing borrowings which were comprised of fixed-rate borrowings	89%	90%
Floating interest rate | Interest rate risk
Disclosure of nature and extent of risks arising from financial instruments [line items]
Change in risk variable, percent	1%	1%	1%
Annual change in finance costs and pre-tax equity	€ 9	€ 9	€ 7

Financial risk management - Sen

Financial risk management - Sensitivity of Commodity Risk (Details) - EUR (€) € in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Commodity contracts
Disclosure of credit risk exposure [line items]
Change in risk variable, percent	10%	10%	10%
10% increase in commodity prices equity gain	€ 144	€ 140	€ 92
10% decrease in commodity prices equity loss	€ (144)	€ (140)	€ (92)
Foreign currency contracts | Euro
Disclosure of credit risk exposure [line items]
Change in risk variable, percent	10%

Financial risk management - Liq

Financial risk management - Liquidity Risk (Details) - Liquidity risk - EUR (€) € in Millions	Dec. 31, 2023	Dec. 31, 2022
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items]
Trade and other payables	€ 4,875	€ 4,714
Amounts payable to related parties	270	485
Borrowings	11,803	12,314
Derivatives	268	263
Lease liabilities	774	752
Total financial liabilities	17,990	18,528
Less than 1 year
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items]
Trade and other payables	4,875	4,714
Amounts payable to related parties	270	485
Borrowings	1,322	1,336
Derivatives	99	76
Lease liabilities	159	149
Total financial liabilities	6,725	6,760
1 to 3 years
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items]
Trade and other payables	0	0
Amounts payable to related parties	0	0
Borrowings	2,325	2,597
Derivatives	42	17
Lease liabilities	237	217
Total financial liabilities	2,604	2,831
3 to 5 years
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items]
Trade and other payables	0	0
Amounts payable to related parties	0	0
Borrowings	2,681	2,179
Derivatives	39	51
Lease liabilities	141	129
Total financial liabilities	2,861	2,359
More than 5 years
Disclosure Of Maturity Analysis For Derivative And Non-Derivative Financial Liabilities [Line Items]
Trade and other payables	0	0
Amounts payable to related parties	0	0
Borrowings	5,475	6,202
Derivatives	88	119
Lease liabilities	237	257
Total financial liabilities	€ 5,800	€ 6,578

Significant events after the _2

Significant events after the reporting period (Details) € in Millions, $ in Millions, ₱ in Billions			1 Months Ended
	Feb. 23, 2024 EUR (€)	Feb. 23, 2024 USD ($)	Nov. 30, 2023 USD ($)	Feb. 23, 2024 USD ($)	Feb. 20, 2024 USD ($)	Feb. 20, 2024 PHP (₱)	Feb. 14, 2024 USD ($)	Dec. 31, 2023 EUR (€)	Dec. 31, 2022 EUR (€)
Disclosure of non-adjusting events after reporting period [line items]
Borrowings | €								€ 11,396	€ 11,907
Major business combination | Term Loan Facility
Disclosure of non-adjusting events after reporting period [line items]
Borrowings					$ 420	₱ 23.5
Percentage of principal loan amount repayable in full upon maturity					90%	90%
Credit facility							$ 500
Joint ventures | Coca-Cola Europacific Partners Plc
Disclosure of non-adjusting events after reporting period [line items]
Proportion of ownership interest in joint operation			60%
Joint ventures | Aboitiz Equity Ventures Inc. (AEV)
Disclosure of non-adjusting events after reporting period [line items]
Proportion of ownership interest in joint operation			40%
Joint ventures | Major business combination
Disclosure of non-adjusting events after reporting period [line items]
Consideration transferred, acquisition-date fair value	€ 1,550			$ 1,680
Consideration paid	€ 930	$ 1,000
Joint ventures | Major business combination | Coca-Cola Europacific Partners Plc
Disclosure of non-adjusting events after reporting period [line items]
Proportion of ownership interest in joint operation	6,000%	6,000%
Joint ventures | Major business combination | Aboitiz Equity Ventures Inc. (AEV)
Disclosure of non-adjusting events after reporting period [line items]
Proportion of ownership interest in joint operation	4,000%	4,000%
Coca-Cola Beverages Philippines, Inc. (CBBPI) | Joint ventures
Disclosure of non-adjusting events after reporting period [line items]
Consideration paid			$ 1,800

Group companies (Details)

Group companies (Details)	12 Months Ended
	Dec. 31, 2023
Disclosure of associates [line items]
% Equity interest directly held	100%
The Group
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	99.99%
Coca-Cola Australia Foundation Limited
Disclosure of associates [line items]
Proportion of ownership interest in joint venture	0%
Mahija Parahita Nusantara Foundation
Disclosure of associates [line items]
Proportion of ownership interest in joint venture	0%
PT Amandina Bumi Nusantara
Disclosure of associates [line items]
Proportion of ownership interest in joint venture	35.31%
TasRecycle Limited
Disclosure of associates [line items]
Proportion of ownership interest in joint venture	0%
VicRecycle Limited
Disclosure of associates [line items]
Proportion of ownership interest in joint venture	0%
Container Exchange (QLD) Limited
Disclosure of associates [line items]
Proportion of ownership interest in investments	0%
Foodl B.V.
Disclosure of associates [line items]
Proportion of ownership interest in investments	33.30%
Kollex GmbH
Disclosure of associates [line items]
Proportion of ownership interest in investments	20%
Ionech Limited
Disclosure of associates [line items]
Proportion of ownership interest in investments	14.80%
WA Return Recycle Renew Ltd
Disclosure of associates [line items]
Proportion of ownership interest in investments	0%
Aitonomi AG
Disclosure of associates [line items]
Proportion of ownership interest in associate	15%
Birtingahúsið ehf.
Disclosure of associates [line items]
Proportion of ownership interest in associate	34.50%
CC Digital GmbH
Disclosure of associates [line items]
Proportion of ownership interest in associate	50%
Circular Plastics Australia (PET) Holdings Pty Ltd
Disclosure of associates [line items]
Proportion of ownership interest in associate	16.67%
Endurvinnslan hf.
Disclosure of associates [line items]
Proportion of ownership interest in associate	20%
Exchange for Change (ACT) Pty Ltd
Disclosure of associates [line items]
Proportion of ownership interest in associate	20%
Exchange for Change (NSW) Pty Ltd
Disclosure of associates [line items]
Proportion of ownership interest in associate	20%
Infineo Recyclage SAS
Disclosure of associates [line items]
Proportion of ownership interest in associate	49%
Innovative Tap Solutions Inc.
Disclosure of associates [line items]
Proportion of ownership interest in associate	21.80%
Lavit Holdings Inc
Disclosure of associates [line items]
Proportion of ownership interest in associate	13.70%
Agua De La Vega Del Codorno, S.L.U.
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Aguas De Cospeito, S.L.U.
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Aguas De Santolin, S.L.U.
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Aguas Del Maestrazgo, S.L.U.
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Aguas Del Toscal, S.A.U.
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Aguas Vilas Del Turbon, S.L.U.
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Amalgamated Beverages Great Britain Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Apand Pty Ltd
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Associated Products & Distribution Proprietary
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
BBH Investment Ireland Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Bebidas Gaseosas Del Noroeste, S.L.U.
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Beganet, S.L.U.
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Beverage Bottlers (NQ) Pty Ltd
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Beverage Bottlers (QLD) Ltd
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
BL Bottling Holdings UK Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
BNI B.V.
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
BNII Inc.
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
BNI (Finance) B.V.
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Bottling Great Britain Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Bottling Holding France SAS
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Bottling Holdings (Luxembourg) SARL
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Bottling Holdings (Netherlands) B.V.
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Bottling Holdings Europe Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
% Equity interest directly held	38.30%
Bottling Holdings Europe Limited | Ordinary Share Class A
Disclosure of associates [line items]
% Equity interest directly held	100%
Brewcorp Pty Ltd
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Brewhouse Investments Pty Ltd
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
C - C Bottlers Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Can Recycling (S.A.) Pty. Ltd.
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
CC Erfrischungsgetränke Oldenburg Verwaltungs GmbH
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
CC Iberian Partners Gestion S.L.
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
CC Verpackungsgesellschaft mit beschraenkter Haftung
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
CCA Bayswater Pty Ltd
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
CCEP Australia Pty Ltd
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
CCEP Finance (Australia) Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
CCEP Finance (Ireland) Designated Activity Company
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
CCEP Group Services Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
CCEP Holdings (Australia) Pty Ltd
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
CCEP Holdings (Australia) Pty Ltd
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
CCEP Holdings Norge AS
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	10,000%
CCEP Holdings Sverige AB
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
CCEP Holdings UK Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
CCEP Scottish Limited Partnership
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	10,000%
CCEP Ventures Australia Pty Ltd
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
CCEP Ventures Europe Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
CCEP Ventures UK Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
CCIP Soporte, S.L.U.
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Classic Brand (Europe) Designated Activity Company
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Cobega Embotellador, S.L.U.
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Coca-Cola Europacific Partners (CDE Aust) Pty Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Coca-Cola Europacific Partners (Fiji) Pte Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Coca-Cola Europacific Partners (Holdings) Pty Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Coca-Cola Europacific Partners (Initial LP) Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Coca-Cola Europacific Partners (Scotland) Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Coca-Cola Europacific Partners API Pty Ltd
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Coca-Cola Europacific Partners Australia Pty Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Coca-Cola Europacific Partners Belgium SRL/BV
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Coca-Cola Europacific Partners Deutschland GmbH
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
% Equity interest directly held	10%
Coca-Cola Europacific Partners France SAS
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Coca-Cola Europacific Partners Great Britain Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Coca-Cola Europacific Partners Holdings Great Britain Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Coca-Cola Europacific Partners Holdings NZ Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Coca-Cola Europacific Partners Holdings US, Inc.
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Coca-Cola Europacific Partners Iberia, S.L.U.
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Coca-Cola Europacific Partners Investments (Singapore) Pte. Ltd.
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Coca-Cola Europacific Partners Ísland ehf.
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Coca-Cola Europacific Partners Luxembourg sàrl
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Coca-Cola Europacific Partners Nederland B.V.
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Coca-Cola Europacific Partners New Zealand Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Coca-Cola Europacific Partners Norge AS
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Coca-Cola Europacific Partners Papua New Guinea Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Coca-Cola Europacific Partners Pension Scheme Trustees Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Coca-Cola Europacific Partners Portugal Unipessoal LDA
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Coca-Cola Europacific Partners Services Bulgaria EOOD
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Coca-Cola Europacific Partners Services Europe Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Coca-Cola Europacific Partners Services SRL
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Coca-Cola Europacific Partners Sverige AB
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Coca-Cola Europacific Partners US, LLC
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Coca-Cola Europacific Partners US II, LLC
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Coca-Cola Europacific Partners Vanuatu Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Coca-Cola Immobilier SCI
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Coca-Cola Production SAS
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Compañía Asturiana De Bebidas Gaseosas, S.L.U.
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Compañía Castellana De Bebidas Gaseosas, S.L.
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Compañía Levantina De Bebidas Gaseosas, S.L.U.
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Compañía Norteña De Bebidas Gaseosas, S.L.U.
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Compañía Para La Comunicación De Bebidas Sin Alcohol, S.L.U.
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Circular Economy Systems Pty Ltd
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	50%
Crusta Fruit Juices Proprietary Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Developed System Logistics, S.L.U.
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Feral Brewing Company Pty Ltd
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
GR Bottling Holdings UK Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Instelling voor Bedrijfspensioenvoorziening Coca-Cola Europacific Partners Belgium/Coca-Cola Europacific Partners Services – Bedienden-Arbeiders OFP
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Instelling voor Bedrijfspensioenvoorziening Coca-Cola Europacific Partners Belgium/Coca-Cola Europacific Partners Services – Kaderleden OFP
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Lusobega, S.L.
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Madrid Ecoplatform, S.L.U.
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Matila Nominees Pty. Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Neverfail Bottled Water Co Pty Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Neverfail SA Pty. Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Neverfail Springwater (VIC) Pty Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Neverfail Springwater Co Pty Ltd
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Neverfail Springwater Co. (QLD) Pty. Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Neverfail Springwater Pty Ltd
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Neverfail WA Pty. Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Pacbev Pty Ltd
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Paradise Beverages (Fiji) Pte Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
PEÑA Umbria S.L.U.
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Perfect Fruit Company Pty Ltd
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
PT Coca-Cola Bottling Indonesia
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
PT Coca-Cola Distribution Indonesia
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Purna Pty. Ltd.
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Quenchy Crusta Sales Pty. Ltd.
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Real Oz Water Supply Co (QLD) Pty Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Refrescos Envasados Del Sur, S.L.U.
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Refrige SGPS, Unipessoal, LDA
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Sale Proprietary Co 1 Pty Ltd
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Sale Proprietary Co 2 Pty Ltd
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Sale Proprietary Co 3 Pty Ltd
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Sale Proprietary Co 4 Pty Ltd
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Sale Proprietary Co 5 Pty Ltd
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Sale Proprietary Co 6 Pty Ltd
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Sale Proprietary Co 7 Pty Ltd
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Samoa Breweries Limited (SBL)
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Wabi Portugal, Unipessoal LDA
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
WB Investment Ireland 2 Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
WBH Holdings Luxembourg SCS
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
WIH UK Limited
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Wir Sind Coca-Cola GmbH
Disclosure of associates [line items]
Proportion of ownership interest in subsidiary	100%
Infineo Recyclage SAS | Ordinary Share Class B
Disclosure of associates [line items]
% Equity interest directly held	49%