$KO Balance Sheet Discussion

I've been spending a lot of time looking at company debt lately and I decided to take a look at Coke Cola's balance sheet. A couple things stood out. For one, Fidelity lists their current assets at over $97 billion and their current liabilities at over $69 billion. While that doesn't look too bad on the surface (higher than I'd like, but still), I decided to go look a little deeper. It seems as of the end of 2022, over 1/3 of their assets were listed as goodwill and other intangibles, which to me means the only thing that elevates their company's assets over their liabilities is what they estimate the "Coke Cola" brand names to be worth, along with whatever else they consider to be intangible assets. I like to look at goodwill because I often take it with a grain of salt.
What do people think about this? Feel free to double check what I'm seeing, but despite it being one of the great American brands, I found it kind of alarming. Also, why do they have so much debt? With their cash flows it seems like it shouldn't be necessary. Anyone know the history here?
It's kind of alarming to me how much debt sits on a lot of corporate balance sheets, even with companies many would consider blue chips, but that's a topic for another thread I guess. I get the idea of leveraging debt, but man, a lot of these companies have a ton of it.