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|
Delaware
(State or other jurisdiction of
incorporation or organization)
|
|
58-0628465
(IRS Employer
Identification No.)
|
One Coca-Cola Plaza
Atlanta, Georgia
(Address of principal executive offices)
|
|
30313
(Zip Code)
|
|
Large accelerated filer
ý
|
|
Accelerated filer
o
|
|
Non-accelerated filer
o
(Do not check if a smaller reporting company)
|
|
Smaller reporting company
o
|
Class of Common Stock
|
|
Outstanding at October 24, 2011
|
$0.25 Par Value
|
|
2,271,232,205 Shares
|
|
|
|
Page Number
|
|
||
|
|
|
|
|
|
|
|
|
Item 1.
|
||
|
|
|
|
||
|
|
|
|
||
|
|
|
|
||
|
|
|
|
||
Item 2.
|
||
|
|
|
Item 3.
|
||
|
|
|
Item 4.
|
||
|
|
|
|
|
|
|
|
|
Item 1.
|
||
|
|
|
Item 1A.
|
||
|
|
|
Item 2.
|
||
|
|
|
Item 6.
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||
|
September 30,
2011 |
|
October 1,
2010 |
|
|
September 30,
2011 |
|
October 1,
2010 |
|
||||
NET OPERATING REVENUES
|
$
|
12,248
|
|
$
|
8,426
|
|
|
$
|
35,502
|
|
$
|
24,625
|
|
Cost of goods sold
|
4,875
|
|
2,918
|
|
|
13,813
|
|
8,414
|
|
||||
GROSS PROFIT
|
7,373
|
|
5,508
|
|
|
21,689
|
|
16,211
|
|
||||
Selling, general and administrative expenses
|
4,527
|
|
3,064
|
|
|
13,029
|
|
8,647
|
|
||||
Other operating charges
|
96
|
|
100
|
|
|
457
|
|
274
|
|
||||
OPERATING INCOME
|
2,750
|
|
2,344
|
|
|
8,203
|
|
7,290
|
|
||||
Interest income
|
141
|
|
93
|
|
|
356
|
|
220
|
|
||||
Interest expense
|
116
|
|
80
|
|
|
313
|
|
246
|
|
||||
Equity income (loss) — net
|
180
|
|
355
|
|
|
535
|
|
847
|
|
||||
Other income (loss) — net
|
(32
|
)
|
(12
|
)
|
|
447
|
|
(109
|
)
|
||||
INCOME BEFORE INCOME TAXES
|
2,923
|
|
2,700
|
|
|
9,228
|
|
8,002
|
|
||||
Income taxes
|
680
|
|
633
|
|
|
2,268
|
|
1,927
|
|
||||
CONSOLIDATED NET INCOME
|
2,243
|
|
2,067
|
|
|
6,960
|
|
6,075
|
|
||||
Less: Net income attributable to noncontrolling interests
|
22
|
|
12
|
|
|
42
|
|
37
|
|
||||
NET INCOME ATTRIBUTABLE TO SHAREOWNERS OF
THE COCA-COLA COMPANY
|
$
|
2,221
|
|
$
|
2,055
|
|
|
$
|
6,918
|
|
$
|
6,038
|
|
BASIC NET INCOME PER SHARE
1
|
$
|
0.97
|
|
$
|
0.89
|
|
|
$
|
3.02
|
|
$
|
2.62
|
|
DILUTED NET INCOME PER SHARE
1
|
$
|
0.95
|
|
$
|
0.88
|
|
|
$
|
2.97
|
|
$
|
2.59
|
|
DIVIDENDS PER SHARE
|
$
|
0.47
|
|
$
|
0.44
|
|
|
$
|
1.41
|
|
$
|
1.32
|
|
AVERAGE SHARES OUTSTANDING
|
2,286
|
|
2,310
|
|
|
2,289
|
|
2,307
|
|
||||
Effect of dilutive securities
|
40
|
|
26
|
|
|
40
|
|
22
|
|
||||
AVERAGE SHARES OUTSTANDING ASSUMING DILUTION
|
2,326
|
|
2,336
|
|
|
2,329
|
|
2,329
|
|
|
September 30,
2011 |
|
December 31,
2010 |
|
||
ASSETS
|
|
|
||||
CURRENT ASSETS
|
|
|
||||
Cash and cash equivalents
|
$
|
12,682
|
|
$
|
8,517
|
|
Short-term investments
|
3,684
|
|
2,682
|
|
||
TOTAL CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS
|
16,366
|
|
11,199
|
|
||
Marketable securities
|
131
|
|
138
|
|
||
Trade accounts receivable, less allowances of $90 and $48, respectively
|
5,131
|
|
4,430
|
|
||
Inventories
|
3,172
|
|
2,650
|
|
||
Prepaid expenses and other assets
|
3,391
|
|
3,162
|
|
||
TOTAL CURRENT ASSETS
|
28,191
|
|
21,579
|
|
||
EQUITY METHOD INVESTMENTS
|
7,073
|
|
6,954
|
|
||
OTHER INVESTMENTS, PRINCIPALLY BOTTLING COMPANIES
|
1,264
|
|
631
|
|
||
OTHER ASSETS
|
3,219
|
|
2,121
|
|
||
PROPERTY, PLANT AND EQUIPMENT, less accumulated depreciation of
$8,118 and $6,979, respectively
|
14,522
|
|
14,727
|
|
||
TRADEMARKS WITH INDEFINITE LIVES
|
6,501
|
|
6,356
|
|
||
BOTTLERS' FRANCHISE RIGHTS WITH INDEFINITE LIVES
|
7,716
|
|
7,511
|
|
||
GOODWILL
|
12,073
|
|
11,665
|
|
||
OTHER INTANGIBLE ASSETS
|
1,194
|
|
1,377
|
|
||
TOTAL ASSETS
|
$
|
81,753
|
|
$
|
72,921
|
|
LIABILITIES AND EQUITY
|
|
|
||||
CURRENT LIABILITIES
|
|
|
||||
Accounts payable and accrued expenses
|
$
|
9,837
|
|
$
|
8,859
|
|
Loans and notes payable
|
13,398
|
|
8,100
|
|
||
Current maturities of long-term debt
|
2,082
|
|
1,276
|
|
||
Accrued income taxes
|
264
|
|
273
|
|
||
TOTAL CURRENT LIABILITIES
|
25,581
|
|
18,508
|
|
||
LONG-TERM DEBT
|
13,708
|
|
14,041
|
|
||
OTHER LIABILITIES
|
4,404
|
|
4,794
|
|
||
DEFERRED INCOME TAXES
|
4,561
|
|
4,261
|
|
||
THE COCA-COLA COMPANY SHAREOWNERS' EQUITY
|
|
|
||||
Common stock, $0.25 par value; Authorized — 5,600 shares;
Issued — 3,520 and 3,520 shares, respectively
|
880
|
|
880
|
|
||
Capital surplus
|
11,056
|
|
10,057
|
|
||
Reinvested earnings
|
52,965
|
|
49,278
|
|
||
Accumulated other comprehensive income (loss)
|
(1,174
|
)
|
(1,450
|
)
|
||
Treasury stock, at cost — 1,249 and 1,228 shares, respectively
|
(30,518
|
)
|
(27,762
|
)
|
||
EQUITY ATTRIBUTABLE TO SHAREOWNERS OF THE COCA-COLA COMPANY
|
33,209
|
|
31,003
|
|
||
EQUITY ATTRIBUTABLE TO NONCONTROLLING INTERESTS
|
290
|
|
314
|
|
||
TOTAL EQUITY
|
33,499
|
|
31,317
|
|
||
TOTAL LIABILITIES AND EQUITY
|
$
|
81,753
|
|
$
|
72,921
|
|
|
Nine Months Ended
|
|||||
|
September 30,
2011 |
|
October 1,
2010 |
|
||
OPERATING ACTIVITIES
|
|
|
||||
Consolidated net income
|
$
|
6,960
|
|
$
|
6,075
|
|
Depreciation and amortization
|
1,423
|
|
934
|
|
||
Stock-based compensation expense
|
268
|
|
185
|
|
||
Deferred income taxes
|
194
|
|
46
|
|
||
Equity (income) loss — net of dividends
|
(172
|
)
|
(567
|
)
|
||
Foreign currency adjustments
|
35
|
|
109
|
|
||
Significant (gains) losses on sales of assets — net
|
(104
|
)
|
(48
|
)
|
||
Other operating charges
|
188
|
|
111
|
|
||
Other items
|
(316
|
)
|
87
|
|
||
Net change in operating assets and liabilities
|
(1,676
|
)
|
292
|
|
||
Net cash provided by operating activities
|
6,800
|
|
7,224
|
|
||
INVESTING ACTIVITIES
|
|
|
||||
Purchases of short-term investments
|
(4,036
|
)
|
(3,252
|
)
|
||
Proceeds from disposals of short-term investments
|
3,026
|
|
2,742
|
|
||
Acquisitions and investments
|
(310
|
)
|
(1,798
|
)
|
||
Purchases of other investments
|
(611
|
)
|
(65
|
)
|
||
Proceeds from disposals of bottling companies and other investments
|
468
|
|
1,050
|
|
||
Purchases of property, plant and equipment
|
(1,915
|
)
|
(1,335
|
)
|
||
Proceeds from disposals of property, plant and equipment
|
66
|
|
94
|
|
||
Other investing activities
|
(102
|
)
|
(149
|
)
|
||
Net cash provided by (used in) investing activities
|
(3,414
|
)
|
(2,713
|
)
|
||
FINANCING ACTIVITIES
|
|
|
||||
Issuances of debt
|
22,623
|
|
8,611
|
|
||
Payments of debt
|
(17,095
|
)
|
(6,983
|
)
|
||
Issuances of stock
|
1,382
|
|
535
|
|
||
Purchases of stock for treasury
|
(3,608
|
)
|
(3
|
)
|
||
Dividends
|
(2,159
|
)
|
(3,034
|
)
|
||
Other financing activities
|
33
|
|
(11
|
)
|
||
Net cash provided by (used in) financing activities
|
1,176
|
|
(885
|
)
|
||
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS
|
(397
|
)
|
(138
|
)
|
||
CASH AND CASH EQUIVALENTS
|
|
|
||||
Net increase (decrease) during the period
|
4,165
|
|
3,488
|
|
||
Balance at beginning of period
|
8,517
|
|
7,021
|
|
||
Balance at end of period
|
$
|
12,682
|
|
$
|
10,509
|
|
|
Amounts
Recognized as of
Acquisition Date
1
|
|
|
Measurement
Period
Adjustments
2
|
|
|
Amounts
Recognized as of
Acquisition Date
(as Adjusted)
|
|
|||
Cash and cash equivalents
|
$
|
49
|
|
|
$
|
—
|
|
|
$
|
49
|
|
Marketable securities
|
7
|
|
|
—
|
|
|
7
|
|
|||
Trade accounts receivable
|
1,194
|
|
|
—
|
|
|
1,194
|
|
|||
Inventories
|
696
|
|
|
—
|
|
|
696
|
|
|||
Other current assets
3
|
744
|
|
|
(5
|
)
|
|
739
|
|
|||
Property, plant and equipment
3
|
5,385
|
|
|
(682
|
)
|
|
4,703
|
|
|||
Bottlers' franchise rights with indefinite lives
3
|
5,100
|
|
|
100
|
|
|
5,200
|
|
|||
Other intangible assets
3
|
1,032
|
|
|
45
|
|
|
1,077
|
|
|||
Other noncurrent assets
|
261
|
|
|
—
|
|
|
261
|
|
|||
Total identifiable assets acquired
|
14,468
|
|
|
(542
|
)
|
|
13,926
|
|
|||
Accounts payable and accrued expenses
3
|
1,826
|
|
|
8
|
|
|
1,834
|
|
|||
Loans and notes payable
|
266
|
|
|
—
|
|
|
266
|
|
|||
Long-term debt
|
9,345
|
|
|
—
|
|
|
9,345
|
|
|||
Pension and other postretirement liabilities
|
1,313
|
|
|
—
|
|
|
1,313
|
|
|||
Other noncurrent liabilities
3
|
2,603
|
|
|
(293
|
)
|
|
2,310
|
|
|||
Total liabilities assumed
|
15,353
|
|
|
(285
|
)
|
|
15,068
|
|
|||
Net liabilities assumed
|
(885
|
)
|
|
(257
|
)
|
|
(1,142
|
)
|
|||
Goodwill
3
|
7,746
|
|
|
304
|
|
|
8,050
|
|
|||
|
6,861
|
|
|
47
|
|
|
6,908
|
|
|||
Less: Noncontrolling interests
|
13
|
|
|
—
|
|
|
13
|
|
|||
Net assets acquired
|
$
|
6,848
|
|
|
$
|
47
|
|
|
$
|
6,895
|
|
|
September 30, 2011
|
|
December 31, 2010
|
|
||
Marketable securities
|
$
|
125
|
|
$
|
132
|
|
Other assets
|
73
|
|
77
|
|
||
Total trading securities
|
$
|
198
|
|
$
|
209
|
|
|
|
Gross Unrealized
|
Estimated
|
|
||||||||
|
Cost
|
|
Gains
|
|
Losses
|
|
Fair Value
|
|
||||
Available-for-sale securities:
1
|
|
|
|
|
||||||||
Equity securities
|
$
|
940
|
|
$
|
270
|
|
$
|
(12
|
)
|
$
|
1,198
|
|
Other securities
|
85
|
|
1
|
|
(1
|
)
|
85
|
|
||||
|
$
|
1,025
|
|
$
|
271
|
|
$
|
(13
|
)
|
$
|
1,283
|
|
Held-to-maturity securities:
|
|
|
|
|
||||||||
Bank and corporate debt
|
$
|
325
|
|
$
|
—
|
|
$
|
—
|
|
$
|
325
|
|
|
|
Gross Unrealized
|
Estimated
|
|
||||||||
|
Cost
|
|
Gains
|
|
Losses
|
|
Fair Value
|
|
||||
Available-for-sale securities:
1
|
|
|
|
|
||||||||
Equity securities
|
$
|
209
|
|
$
|
267
|
|
$
|
(5
|
)
|
$
|
471
|
|
Other securities
|
14
|
|
—
|
|
—
|
|
14
|
|
||||
|
$
|
223
|
|
$
|
267
|
|
$
|
(5
|
)
|
$
|
485
|
|
Held-to-maturity securities:
|
|
|
|
|
||||||||
Bank and corporate debt
|
$
|
111
|
|
$
|
—
|
|
$
|
—
|
|
$
|
111
|
|
|
September 30, 2011
|
|
December 31, 2010
|
||||||||||
|
Available-
for-Sale
Securities
|
|
Held-to-
Maturity
Securities
|
|
|
Available-
for-Sale
Securities
|
|
Held-to-
Maturity
Securities
|
|
||||
Cash and cash equivalents
|
$
|
—
|
|
$
|
324
|
|
|
$
|
—
|
|
$
|
110
|
|
Marketable securities
|
5
|
|
1
|
|
|
5
|
|
1
|
|
||||
Other investments, principally bottling companies
|
1,103
|
|
—
|
|
|
471
|
|
—
|
|
||||
Other assets
|
175
|
|
—
|
|
|
9
|
|
—
|
|
||||
|
$
|
1,283
|
|
$
|
325
|
|
|
$
|
485
|
|
$
|
111
|
|
|
Available-for-Sale
Securities
|
|
Held-to-Maturity
Securities
|
||||||||||
|
Cost
|
|
Fair Value
|
|
|
Amortized Cost
|
|
Fair Value
|
|
||||
Within 1 year
|
$
|
—
|
|
$
|
—
|
|
|
$
|
325
|
|
$
|
325
|
|
After 1 year through 5 years
|
2
|
|
2
|
|
|
—
|
|
—
|
|
||||
After 5 years through 10 years
|
72
|
|
73
|
|
|
—
|
|
—
|
|
||||
After 10 years
|
11
|
|
10
|
|
|
—
|
|
—
|
|
||||
Equity securities
|
940
|
|
1,198
|
|
|
—
|
|
—
|
|
||||
|
$
|
1,025
|
|
$
|
1,283
|
|
|
$
|
325
|
|
$
|
325
|
|
|
September 30, 2011
|
|
December 31, 2010
|
|
||
Raw materials and packaging
|
$
|
1,751
|
|
$
|
1,425
|
|
Finished goods
|
1,209
|
|
1,029
|
|
||
Other
|
212
|
|
196
|
|
||
Total inventories
|
$
|
3,172
|
|
$
|
2,650
|
|
|
|
Fair Value
1, 2
|
|||||
Derivatives Designated as
Hedging Instruments
|
Balance Sheet Location
1
|
September 30, 2011
|
|
December 31, 2010
|
|
||
Assets
|
|
|
|
||||
Foreign currency contracts
|
Prepaid expenses and other assets
|
$
|
189
|
|
$
|
32
|
|
Commodity contracts
|
Prepaid expenses and other assets
|
3
|
|
4
|
|
||
Interest rate swaps
|
Other assets
|
242
|
|
—
|
|
||
Total assets
|
|
$
|
434
|
|
$
|
36
|
|
Liabilities
|
|
|
|
||||
Foreign currency contracts
|
Accounts payable and accrued expenses
|
$
|
94
|
|
$
|
141
|
|
Commodity contracts
|
Accounts payable and accrued expenses
|
3
|
|
2
|
|
||
Interest rate swaps
|
Other liabilities
|
—
|
|
97
|
|
||
Total liabilities
|
|
$
|
97
|
|
$
|
240
|
|
|
|
Fair Value
1, 2
|
|||||
Derivatives Not Designated as
Hedging Instruments
|
Balance Sheet Location
1
|
September 30, 2011
|
|
December 31, 2010
|
|
||
Assets
|
|
|
|
||||
Foreign currency contracts
|
Prepaid expenses and other assets
|
$
|
110
|
|
$
|
65
|
|
Commodity contracts
|
Prepaid expenses and other assets
|
60
|
|
56
|
|
||
Other derivative instruments
|
Prepaid expenses and other assets
|
4
|
|
17
|
|
||
Total assets
|
|
$
|
174
|
|
$
|
138
|
|
Liabilities
|
|
|
|
||||
Foreign currency contracts
|
Accounts payable and accrued expenses
|
$
|
45
|
|
$
|
144
|
|
Commodity contracts
|
Accounts payable and accrued expenses
|
118
|
|
—
|
|
||
Other derivative instruments
|
Accounts payable and accrued expenses
|
4
|
|
—
|
|
||
Total liabilities
|
|
$
|
167
|
|
$
|
144
|
|
|
Gain (Loss)
Recognized
in Other
Comprehensive
Income ("OCI")
|
|
Location of Gain (Loss)
Recognized in Income
1
|
Gain (Loss)
Reclassified from
AOCI into Income
(Effective Portion)
|
|
Gain (Loss)
Recognized in Income
(Ineffective Portion and
Amount Excluded from
Effectiveness Testing)
|
|
|
|||
Foreign currency contracts
|
$
|
60
|
|
Net operating revenues
|
$
|
(80
|
)
|
$
|
—
|
|
2
|
Interest rate locks
|
(11
|
)
|
Interest expense
|
(3
|
)
|
(1
|
)
|
|
|||
Commodity contracts
|
(2
|
)
|
Cost of goods sold
|
1
|
|
—
|
|
|
|||
Total
|
$
|
47
|
|
|
$
|
(82
|
)
|
$
|
(1
|
)
|
|
|
Gain (Loss)
Recognized
in OCI
|
|
Location of Gain (Loss)
Recognized in Income
1
|
Gain (Loss)
Reclassified from
AOCI into Income
(Effective Portion)
|
|
Gain (Loss)
Recognized in Income
(Ineffective Portion and
Amount Excluded from
Effectiveness Testing)
|
|
|
|||
Foreign currency contracts
|
$
|
(91
|
)
|
Net operating revenues
|
$
|
(196
|
)
|
$
|
—
|
|
2
|
Interest rate locks
|
(11
|
)
|
Interest expense
|
(9
|
)
|
(1
|
)
|
|
|||
Commodity contracts
|
(2
|
)
|
Cost of goods sold
|
—
|
|
—
|
|
|
|||
Total
|
$
|
(104
|
)
|
|
$
|
(205
|
)
|
$
|
(1
|
)
|
|
|
Gain (Loss)
Recognized
in OCI
|
|
Location of Gain (Loss)
Recognized in Income
1
|
Gain (Loss)
Reclassified from
AOCI into Income
(Effective Portion)
|
|
Gain (Loss)
Recognized in Income
(Ineffective Portion and
Amount Excluded from
Effectiveness Testing)
|
|
|
|||
Foreign currency contracts
|
$
|
(419
|
)
|
Net operating revenues
|
$
|
8
|
|
$
|
—
|
|
|
Interest rate locks
|
—
|
|
Interest expense
|
(3
|
)
|
—
|
|
|
|||
Commodity contracts
|
2
|
|
Cost of goods sold
|
—
|
|
—
|
|
|
|||
Total
|
$
|
(417
|
)
|
|
$
|
5
|
|
$
|
—
|
|
|
|
Gain (Loss)
Recognized
in OCI
|
|
Location of Gain (Loss)
Recognized in Income
1
|
Gain (Loss)
Reclassified from
AOCI into Income
(Effective Portion)
|
|
Gain (Loss)
Recognized in Income
(Ineffective Portion and
Amount Excluded from
Effectiveness Testing)
|
|
|
|||
Foreign currency contracts
|
$
|
(271
|
)
|
Net operating revenues
|
$
|
36
|
|
$
|
(2
|
)
|
|
Interest rate locks
|
—
|
|
Interest expense
|
(9
|
)
|
—
|
|
|
|||
Commodity contracts
|
—
|
|
Cost of goods sold
|
—
|
|
—
|
|
|
|||
Total
|
$
|
(271
|
)
|
|
$
|
27
|
|
$
|
(2
|
)
|
|
Fair Value Hedging Instruments
|
Location of Gain (Loss)
Recognized in Income
|
|
Gain (Loss)
Recognized in Income
|
|
|
Interest rate swaps
|
Interest expense
|
|
$
|
271
|
|
Fixed-rate debt
|
Interest expense
|
|
(279
|
)
|
|
Net impact
|
|
|
$
|
(8
|
)
|
Fair Value Hedging Instruments
|
Location of Gain (Loss)
Recognized in Income
|
|
Gain (Loss)
Recognized in Income
|
|
|
Interest rate swaps
|
Interest expense
|
|
$
|
339
|
|
Fixed-rate debt
|
Interest expense
|
|
(337
|
)
|
|
Net impact
|
|
|
$
|
2
|
|
|
Gain (Loss)
Recognized in OCI
|
|
||||
|
September 30,
2011 |
|
October 1,
2010 |
|
||
Foreign currency contracts
|
$
|
13
|
|
$
|
(4
|
)
|
Total
|
$
|
13
|
|
$
|
(4
|
)
|
|
Gain (Loss)
Recognized in OCI
|
|
||||
|
September 30,
2011 |
|
October 1,
2010 |
|
||
Foreign currency contracts
|
$
|
10
|
|
$
|
9
|
|
Total
|
$
|
10
|
|
$
|
9
|
|
|
|
Three Months Ended
|
|||||
Derivatives Not Designated
as Hedging Instruments
|
Location of Gain (Loss)
Recognized in Income
|
September 30,
2011 |
|
October 1,
2010 |
|
||
Foreign currency contracts
|
Net operating revenues
|
$
|
4
|
|
$
|
(20
|
)
|
Foreign currency contracts
|
Other income (loss) — net
|
11
|
|
25
|
|
||
Foreign currency contracts
|
Cost of goods sold
|
—
|
|
(2
|
)
|
||
Commodity contracts
|
Cost of goods sold
|
(63
|
)
|
7
|
|
||
Commodity contracts
|
Selling, general and administrative expenses
|
(23
|
)
|
—
|
|
||
Other derivative instruments
|
Selling, general and administrative expenses
|
(12
|
)
|
19
|
|
||
Total
|
|
$
|
(83
|
)
|
$
|
29
|
|
|
|
Nine Months Ended
|
|||||
Derivatives Not Designated
as Hedging Instruments
|
Location of Gain (Loss)
Recognized in Income
|
September 30,
2011 |
|
October 1,
2010 |
|
||
Foreign currency contracts
|
Net operating revenues
|
$
|
(1
|
)
|
$
|
(16
|
)
|
Foreign currency contracts
|
Other income (loss) — net
|
212
|
|
10
|
|
||
Foreign currency contracts
|
Cost of goods sold
|
(13
|
)
|
(2
|
)
|
||
Commodity contracts
|
Cost of goods sold
|
(21
|
)
|
4
|
|
||
Commodity contracts
|
Selling, general and administrative expenses
|
(19
|
)
|
—
|
|
||
Other derivative instruments
|
Selling, general and administrative expenses
|
(4
|
)
|
5
|
|
||
Total
|
|
$
|
154
|
|
$
|
1
|
|
•
|
$
1,655 million
total principal amount of notes due September 1, 2016, at a fixed interest rate of
1.8 percent
; and
|
•
|
$
1,324 million
total principal amount of notes due September 1, 2021, at a fixed interest rate of
3.3 percent
.
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||
|
September 30,
2011 |
|
October 1,
2010 |
|
|
September 30,
2011 |
|
October 1,
2010 |
|
||||
Consolidated net income
|
$
|
2,243
|
|
$
|
2,067
|
|
|
$
|
6,960
|
|
$
|
6,075
|
|
Other comprehensive income:
|
|
|
|
|
|
||||||||
Net foreign currency translation gain (loss)
|
(1,486
|
)
|
1,114
|
|
|
188
|
|
(607
|
)
|
||||
Net gain (loss) on derivatives
1
|
80
|
|
(256
|
)
|
|
63
|
|
(188
|
)
|
||||
Net change in unrealized gain on available-for-sale securities
2
|
(71
|
)
|
62
|
|
|
5
|
|
133
|
|
||||
Net change in pension liability
|
3
|
|
—
|
|
|
(9
|
)
|
32
|
|
||||
Total comprehensive income
|
$
|
769
|
|
$
|
2,987
|
|
|
$
|
7,207
|
|
$
|
5,445
|
|
|
Nine Months Ended September 30, 2011
|
||||||||
|
Shareowners of
The Coca-Cola Company
|
|
Noncontrolling
Interests
|
|
Total
|
|
|||
Consolidated net income
|
$
|
6,918
|
|
$
|
42
|
|
$
|
6,960
|
|
Other comprehensive income:
|
|
|
|
||||||
Net foreign currency translation gain (loss)
|
217
|
|
(29
|
)
|
188
|
|
|||
Net gain (loss) on derivatives
1
|
63
|
|
—
|
|
63
|
|
|||
Net change in unrealized gain on available-for-sale securities
|
5
|
|
—
|
|
5
|
|
|||
Net change in pension liability
|
(9
|
)
|
—
|
|
(9
|
)
|
|||
Total comprehensive income
|
$
|
7,194
|
|
$
|
13
|
|
$
|
7,207
|
|
|
|
Shareowners of The Coca-Cola Company
|
|
|
|||||||||||||||||
|
Total
|
|
Reinvested
Earnings
|
|
Accumulated
Other
Comprehensive
Income (Loss)
|
|
Common
Stock
|
|
Capital
Surplus
|
|
Treasury
Stock
|
|
Non-
controlling
Interests
|
|
|||||||
December 31, 2010
|
$
|
31,317
|
|
$
|
49,278
|
|
$
|
(1,450
|
)
|
$
|
880
|
|
$
|
10,057
|
|
$
|
(27,762
|
)
|
$
|
314
|
|
Comprehensive income (loss)
1
|
7,207
|
|
6,918
|
|
276
|
|
—
|
|
—
|
|
—
|
|
13
|
|
|||||||
Dividends paid / payable to shareowners of
The Coca-Cola Company
|
(3,231
|
)
|
(3,231
|
)
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
|||||||
Dividends paid to noncontrolling interests
|
(37
|
)
|
—
|
|
—
|
|
—
|
|
—
|
|
—
|
|
(37
|
)
|
|||||||
Purchases of treasury stock
|
(3,457
|
)
|
—
|
|
—
|
|
—
|
|
—
|
|
(3,457
|
)
|
—
|
|
|||||||
Impact of employee stock option and
restricted stock plans
|
1,700
|
|
—
|
|
—
|
|
—
|
|
999
|
|
701
|
|
—
|
|
|||||||
September 30, 2011
|
$
|
33,499
|
|
$
|
52,965
|
|
$
|
(1,174
|
)
|
$
|
880
|
|
$
|
11,056
|
|
$
|
(30,518
|
)
|
$
|
290
|
|
|
Accrued
Balance
July 1,
2011
|
|
Costs
Incurred
Three Months
Ended
September 30,
2011
|
|
Payments
|
|
Noncash
and
Exchange
|
|
Accrued
Balance
September 30,
2011
|
|
|||||
Severance pay and benefits
|
$
|
28
|
|
$
|
4
|
|
$
|
(8
|
)
|
$
|
1
|
|
$
|
25
|
|
Outside services
1
|
4
|
|
1
|
|
(1
|
)
|
—
|
|
4
|
|
|||||
Other direct costs
|
3
|
|
17
|
|
(13
|
)
|
(1
|
)
|
6
|
|
|||||
Total
|
$
|
35
|
|
$
|
22
|
|
$
|
(22
|
)
|
$
|
—
|
|
$
|
35
|
|
|
Accrued
Balance
December 31,
2010
|
|
Costs
Incurred
Nine Months
Ended
September 30,
2011
|
|
Payments
|
|
Noncash
and
Exchange
|
|
|
Accrued
Balance
September 30,
2011
|
|
|||||
Severance pay and benefits
|
$
|
59
|
|
$
|
16
|
|
$
|
(32
|
)
|
$
|
(18
|
)
|
1
|
$
|
25
|
|
Outside services
2
|
6
|
|
12
|
|
(15
|
)
|
1
|
|
|
4
|
|
|||||
Other direct costs
|
9
|
|
48
|
|
(42
|
)
|
(9
|
)
|
|
6
|
|
|||||
Total
|
$
|
74
|
|
$
|
76
|
|
$
|
(89
|
)
|
$
|
(26
|
)
|
|
$
|
35
|
|
|
Accrued
Balance
July 1,
2011
|
|
Costs
Incurred
Three Months
Ended
September 30,
2011
|
|
Payments
|
|
Noncash
and
Exchange
|
|
Accrued
Balance
September 30,
2011
|
|
|||||
Severance pay and benefits
|
$
|
33
|
|
$
|
(5
|
)
|
$
|
(9
|
)
|
$
|
(1
|
)
|
$
|
18
|
|
Outside services
1
|
31
|
|
14
|
|
(17
|
)
|
—
|
|
28
|
|
|||||
Other direct costs
|
37
|
|
40
|
|
(40
|
)
|
(4
|
)
|
33
|
|
|||||
Total
|
$
|
101
|
|
$
|
49
|
|
$
|
(66
|
)
|
$
|
(5
|
)
|
$
|
79
|
|
|
Accrued
Balance
December 31,
2010
|
|
Costs
Incurred
Nine Months
Ended
September 30,
2011
|
|
Payments
|
|
Noncash
and
Exchange
|
|
Accrued
Balance
September 30,
2011
|
|
|||||
Severance pay and benefits
|
$
|
48
|
|
$
|
6
|
|
$
|
(36
|
)
|
$
|
—
|
|
$
|
18
|
|
Outside services
1
|
9
|
|
55
|
|
(36
|
)
|
—
|
|
28
|
|
|||||
Other direct costs
|
12
|
|
154
|
|
(128
|
)
|
(5
|
)
|
33
|
|
|||||
Total
|
$
|
69
|
|
$
|
215
|
|
$
|
(200
|
)
|
$
|
(5
|
)
|
$
|
79
|
|
|
Pension Benefits
|
|
Other Benefits
|
||||||||||
|
Three Months Ended
|
||||||||||||
|
September 30,
2011 |
|
October 1,
2010 |
|
|
September 30,
2011 |
|
October 1,
2010 |
|
||||
Service cost
|
$
|
62
|
|
$
|
28
|
|
|
$
|
8
|
|
$
|
5
|
|
Interest cost
|
97
|
|
54
|
|
|
11
|
|
7
|
|
||||
Expected return on plan assets
|
(125
|
)
|
(62
|
)
|
|
(2
|
)
|
(2
|
)
|
||||
Amortization of prior service cost (credit)
|
2
|
|
1
|
|
|
(15
|
)
|
(16
|
)
|
||||
Amortization of net actuarial loss
|
22
|
|
14
|
|
|
—
|
|
1
|
|
||||
Net periodic benefit cost (credit)
|
58
|
|
35
|
|
|
2
|
|
(5
|
)
|
||||
Curtailment charge (credit)
|
—
|
|
—
|
|
|
—
|
|
—
|
|
||||
Special termination benefits
|
—
|
|
—
|
|
|
—
|
|
—
|
|
||||
Total cost (credit) recognized in statements of income
|
$
|
58
|
|
$
|
35
|
|
|
$
|
2
|
|
$
|
(5
|
)
|
|
Pension Benefits
|
|
Other Benefits
|
||||||||||
|
Nine Months Ended
|
||||||||||||
|
September 30,
2011 |
|
October 1,
2010 |
|
|
September 30,
2011 |
|
October 1,
2010 |
|
||||
Service cost
|
$
|
186
|
|
$
|
85
|
|
|
$
|
24
|
|
$
|
16
|
|
Interest cost
|
292
|
|
162
|
|
|
34
|
|
20
|
|
||||
Expected return on plan assets
|
(371
|
)
|
(185
|
)
|
|
(6
|
)
|
(6
|
)
|
||||
Amortization of prior service cost (credit)
|
5
|
|
3
|
|
|
(46
|
)
|
(46
|
)
|
||||
Amortization of net actuarial loss
|
64
|
|
43
|
|
|
1
|
|
2
|
|
||||
Net periodic benefit cost (credit)
|
176
|
|
108
|
|
|
7
|
|
(14
|
)
|
||||
Curtailment charge (credit)
|
—
|
|
(1
|
)
|
|
—
|
|
—
|
|
||||
Special termination benefits
1
|
4
|
|
1
|
|
|
2
|
|
1
|
|
||||
Total cost (credit) recognized in statements of income
|
$
|
180
|
|
$
|
108
|
|
|
$
|
9
|
|
$
|
(13
|
)
|
|
Three Months Ended
|
|
Nine Months Ended
|
|
||||||||||||
|
September 30,
2011 |
|
|
October 1,
2010 |
|
|
September 30,
2011 |
|
|
October 1,
2010 |
|
|
||||
Asset impairments
|
$
|
—
|
|
1
|
$
|
—
|
|
|
$
|
(15
|
)
|
1
|
$
|
—
|
|
11
|
Productivity, integration, restructuring and transaction costs
|
(25
|
)
|
2
|
(19
|
)
|
8
|
(111
|
)
|
2
|
(59
|
)
|
8
|
||||
Transaction gains and losses
|
(5
|
)
|
3
|
10
|
|
9
|
203
|
|
6
|
10
|
|
9
|
||||
Certain tax matters
|
(4
|
)
|
4
|
13
|
|
4
|
15
|
|
4
|
42
|
|
12
|
||||
Other — net
|
(6
|
)
|
5
|
(1
|
)
|
10
|
(44
|
)
|
7
|
(7
|
)
|
13
|
•
|
Level 1 — Quoted prices in active markets for identical assets or liabilities.
|
•
|
Level 2 — Observable inputs other than quoted prices included in Level 1. We value 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.
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
|
Netting
Adjustment
1
|
|
Fair Value
Measurements
|
|
||||||
Assets
|
|
|
|
|
|
|
|||||||||||
Trading securities
|
$
|
173
|
|
$
|
21
|
|
$
|
4
|
|
|
$
|
—
|
|
$
|
198
|
|
|
Available-for-sale securities
|
1,190
|
|
21
|
|
72
|
|
2
|
|
—
|
|
1,283
|
|
|||||
Derivatives
3
|
33
|
|
574
|
|
1
|
|
|
(152
|
)
|
456
|
|
||||||
Total assets
|
$
|
1,396
|
|
$
|
616
|
|
$
|
77
|
|
|
$
|
(152
|
)
|
$
|
1,937
|
|
|
Liabilities
|
|
|
|
|
|
|
|||||||||||
Derivatives
3
|
$
|
66
|
|
$
|
198
|
|
$
|
—
|
|
|
$
|
(235
|
)
|
$
|
29
|
|
|
Total liabilities
|
$
|
66
|
|
$
|
198
|
|
$
|
—
|
|
|
$
|
(235
|
)
|
$
|
29
|
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
|
Netting
Adjustment
1
|
|
Fair Value
Measurements
|
|
|||||
Assets
|
|
|
|
|
|
|
||||||||||
Trading securities
|
$
|
183
|
|
$
|
23
|
|
$
|
3
|
|
|
$
|
—
|
|
$
|
209
|
|
Available-for-sale securities
|
480
|
|
5
|
|
—
|
|
|
—
|
|
485
|
|
|||||
Derivatives
2
|
19
|
|
151
|
|
4
|
|
|
(143
|
)
|
31
|
|
|||||
Total assets
|
$
|
682
|
|
$
|
179
|
|
$
|
7
|
|
|
$
|
(143
|
)
|
$
|
725
|
|
Liabilities
|
|
|
|
|
|
|
||||||||||
Derivatives
2
|
$
|
2
|
|
$
|
382
|
|
$
|
—
|
|
|
$
|
(142
|
)
|
$
|
242
|
|
Total liabilities
|
$
|
2
|
|
$
|
382
|
|
$
|
—
|
|
|
$
|
(142
|
)
|
$
|
242
|
|
|
Gains (Losses)
|
|
||||||||||||||
|
Three Months Ended
|
|
Nine Months Ended
|
|
||||||||||||
|
September 30,
2011 |
|
|
October 1,
2010 |
|
|
September 30,
2011 |
|
|
October 1,
2010 |
|
|
||||
Exchange of investment in equity securities
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
418
|
|
1
|
$
|
—
|
|
|
Equity method investments
|
(3
|
)
|
2
|
—
|
|
|
(41
|
)
|
2
|
—
|
|
|
||||
Inventories
|
(5
|
)
|
3
|
—
|
|
|
(12
|
)
|
3
|
—
|
|
|
||||
Cold-drink equipment
|
—
|
|
|
—
|
|
|
(1
|
)
|
3
|
—
|
|
|
||||
Retained investment in formerly consolidated subsidiary
|
—
|
|
|
12
|
|
4
|
—
|
|
|
12
|
|
4
|
||||
Available-for-sale securities
|
—
|
|
|
—
|
|
|
—
|
|
|
(26
|
)
|
5
|
||||
Total
|
$
|
(8
|
)
|
|
$
|
12
|
|
|
$
|
364
|
|
|
$
|
(14
|
)
|
|
|
Eurasia
& Africa |
|
Europe
|
|
Latin
America |
|
North
America |
|
Pacific
|
|
Bottling
Investments |
|
Corporate
|
|
Eliminations
|
|
Consolidated
|
|
|||||||||
2011
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Net operating revenues:
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Third party
|
$
|
684
|
|
$
|
1,207
|
|
$
|
1,162
|
|
$
|
5,387
|
|
$
|
1,534
|
|
$
|
2,240
|
|
$
|
34
|
|
$
|
—
|
|
$
|
12,248
|
|
Intersegment
|
34
|
|
192
|
|
64
|
|
—
|
|
121
|
|
24
|
|
—
|
|
(435
|
)
|
—
|
|
|||||||||
Total net revenues
|
718
|
|
1,399
|
|
1,226
|
|
5,387
|
|
1,655
|
|
2,264
|
|
34
|
|
(435
|
)
|
12,248
|
|
|||||||||
Operating income (loss)
|
265
|
|
810
|
|
773
|
|
619
|
|
608
|
|
76
|
|
(401
|
)
|
—
|
|
2,750
|
|
|||||||||
Income (loss) before income taxes
|
258
|
|
821
|
|
772
|
|
621
|
|
609
|
|
266
|
|
(424
|
)
|
—
|
|
2,923
|
|
|||||||||
Identifiable operating assets
|
1,379
|
|
3,499
|
|
2,552
|
|
33,444
|
|
2,207
|
|
9,204
|
|
21,131
|
|
—
|
|
73,416
|
|
|||||||||
Noncurrent investments
|
309
|
|
266
|
|
494
|
|
26
|
|
127
|
|
7,041
|
|
74
|
|
—
|
|
8,337
|
|
|||||||||
2010
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Net operating revenues:
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Third party
|
$
|
599
|
|
$
|
1,107
|
|
$
|
988
|
|
$
|
2,159
|
|
$
|
1,429
|
|
$
|
2,132
|
|
$
|
12
|
|
$
|
—
|
|
$
|
8,426
|
|
Intersegment
|
25
|
|
231
|
|
60
|
|
12
|
|
109
|
|
27
|
|
—
|
|
(464
|
)
|
—
|
|
|||||||||
Total net revenues
|
624
|
|
1,338
|
|
1,048
|
|
2,171
|
|
1,538
|
|
2,159
|
|
12
|
|
(464
|
)
|
8,426
|
|
|||||||||
Operating income (loss)
|
221
|
|
742
|
|
616
|
|
503
|
|
586
|
|
78
|
|
(402
|
)
|
—
|
|
2,344
|
|
|||||||||
Income (loss) before income taxes
|
217
|
|
748
|
|
617
|
|
501
|
|
588
|
|
432
|
|
(403
|
)
|
—
|
|
2,700
|
|
|||||||||
Identifiable operating assets
|
1,279
|
|
3,104
|
|
2,104
|
|
10,897
|
|
1,915
|
|
8,701
|
|
18,609
|
|
—
|
|
46,609
|
|
|||||||||
Noncurrent investments
|
300
|
|
236
|
|
340
|
|
45
|
|
123
|
|
6,369
|
|
67
|
|
—
|
|
7,480
|
|
|||||||||
As of December 31, 2010
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Identifiable operating assets
|
$
|
1,278
|
|
$
|
2,724
|
|
$
|
2,298
|
|
$
|
32,793
|
|
$
|
1,827
|
|
$
|
8,398
|
|
$
|
16,018
|
|
$
|
—
|
|
$
|
65,336
|
|
Noncurrent investments
|
291
|
|
243
|
|
379
|
|
57
|
|
123
|
|
6,426
|
|
66
|
|
—
|
|
7,585
|
|
•
|
Operating income (loss) and income (loss) before income taxes were reduced by $
2 million
for Europe, $
2 million
for Latin America, $
52 million
for North America, $
2 million
for Pacific, $
14 million
for Bottling Investments and $
26 million
for Corporate due to the Company's ongoing productivity, integration and restructuring initiatives as well as costs associated with the merger of Arca and Contal. Refer to Note 11 for additional information on our productivity, integration and restructuring initiatives. Refer to Note 10 for additional information related to the merger of Arca and Contal.
|
•
|
Operating income (loss) and income (loss) before income taxes were reduced by $
2 million
for North America and increased by $
1 million
for Pacific due to charges associated with the earthquake and tsunami that devastated northern and eastern Japan on March 11, 2011. Refer to Note 10.
|
•
|
Income (loss) before income taxes was reduced by $
36 million
for Bottling Investments, primarily attributable to the Company's proportionate share of asset impairments and restructuring charges recorded by certain of our equity method investees. Refer to Note 10.
|
•
|
Income (loss) before income taxes was reduced by $
5 million
for Corporate due to the net charge we recognized on the repurchase and/or exchange of certain long-term debt assumed in connection with our acquisition of CCE's North American business. Refer to Note 6.
|
•
|
Income (loss) before income taxes was reduced by $
5 million
for Corporate due to the finalization of working capital adjustments related to the sale of all our ownership interests in our Norwegian and Swedish bottling operations to New CCE. Refer to Note 10.
|
•
|
Income (loss) before income taxes was reduced by $
3 million
for Corporate due to the impairment of an investment in an entity accounted for under the equity method of accounting. Refer to Note 10 and Note 14.
|
•
|
Operating income (loss) and income (loss) before income taxes were reduced by $
1 million
for Eurasia and Africa, $
13 million
for Europe, $
8 million
for Pacific, $
12 million
for Bottling Investments and $
68 million
for Corporate, primarily due to the Company's ongoing productivity, integration and restructuring initiatives as well as transaction costs. Operating income (loss) and income (loss) before income taxes were increased by $
2 million
for North America due to the refinement of previously established restructuring accruals. Refer to Note 11 for additional information on our productivity, integration and restructuring initiatives.
|
•
|
Income (loss) before income taxes was reduced by $
10 million
for Bottling Investments. This net charge was primarily attributable to the Company's proportionate share of transaction costs recorded by CCE, which was partially offset by our proportionate share of a foreign currency remeasurement gain recorded by an equity method investee. The components of the net charge were individually insignificant. Refer to Note 10.
|
•
|
Income (loss) before income taxes was increased by $
23 million
for Corporate due to the gain on the sale of
50 percent
of our investment in Leão Junior. Refer to Note 10.
|
|
Eurasia
& Africa |
|
Europe
|
|
Latin
America |
|
North
America |
|
Pacific
|
|
Bottling
Investments |
|
Corporate
|
|
Eliminations
|
|
Consolidated
|
|
|||||||||
2011
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Net operating revenues:
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Third party
|
$
|
2,054
|
|
$
|
3,725
|
|
$
|
3,308
|
|
$
|
15,567
|
|
$
|
4,175
|
|
$
|
6,548
|
|
$
|
125
|
|
$
|
—
|
|
$
|
35,502
|
|
Intersegment
|
124
|
|
537
|
|
205
|
|
11
|
|
306
|
|
66
|
|
—
|
|
(1,249
|
)
|
—
|
|
|||||||||
Total net revenues
|
2,178
|
|
4,262
|
|
3,513
|
|
15,578
|
|
4,481
|
|
6,614
|
|
125
|
|
(1,249
|
)
|
35,502
|
|
|||||||||
Operating income (loss)
|
860
|
|
2,497
|
|
2,163
|
|
1,820
|
|
1,769
|
|
189
|
|
(1,095
|
)
|
—
|
|
8,203
|
|
|||||||||
Income (loss) before income taxes
|
856
|
|
2,536
|
|
2,174
|
|
1,826
|
|
1,771
|
|
700
|
|
(635
|
)
|
—
|
|
9,228
|
|
|||||||||
2010
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Net operating revenues:
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Third party
|
$
|
1,827
|
|
$
|
3,400
|
|
$
|
2,865
|
|
$
|
6,336
|
|
$
|
3,758
|
|
$
|
6,376
|
|
$
|
63
|
|
$
|
—
|
|
$
|
24,625
|
|
Intersegment
|
110
|
|
686
|
|
171
|
|
47
|
|
297
|
|
77
|
|
—
|
|
(1,388
|
)
|
—
|
|
|||||||||
Total net revenues
|
1,937
|
|
4,086
|
|
3,036
|
|
6,383
|
|
4,055
|
|
6,453
|
|
63
|
|
(1,388
|
)
|
24,625
|
|
|||||||||
Operating income (loss)
|
781
|
|
2,391
|
|
1,795
|
|
1,435
|
|
1,658
|
|
221
|
|
(991
|
)
|
—
|
|
7,290
|
|
|||||||||
Income (loss) before income taxes
|
794
|
|
2,423
|
|
1,810
|
|
1,433
|
|
1,659
|
|
1,018
|
|
(1,135
|
)
|
—
|
|
8,002
|
|
•
|
Operating income (loss) and income (loss) before income taxes were reduced by $
9 million
for Eurasia and Africa, $
5 million
for Europe, $
3 million
for Latin America, $
229 million
for North America, $
3 million
for Pacific, $
58 million
for Bottling Investments and $
100 million
for Corporate, primarily due to the Company's ongoing productivity, integration and restructuring initiatives as well as costs associated with the merger of Arca and Contal. Refer to Note 11 for additional information on our productivity, integration and restructuring initiatives. Refer to Note 10 for additional information related to the merger of Arca and Contal.
|
•
|
Operating income (loss) and income (loss) before income taxes were reduced by $
2 million
for North America and $
82 million
for Pacific due to charges associated with the earthquake and tsunami that devastated northern and eastern Japan on March 11, 2011.
|
•
|
Income (loss) before income taxes was increased by a net $
417 million
for Corporate, primarily due to the gain the Company recognized as a result of the merger of Arca and Contal. Refer to Note 10 and Note 14.
|
•
|
Income (loss) before income taxes was increased by $
102 million
for Corporate due to the gain on the sale of our investment in Embonor, a bottling partner with operations primarily in Chile. Prior to this transaction, the Company accounted for our investment in Embonor under the equity method of accounting. Refer to Note 10.
|
•
|
Income (loss) before income taxes was decreased by $
41 million
for Corporate due to the impairment of an investment in an entity accounted for under the equity method of accounting. Refer to Note 10 and Note 14.
|
•
|
Income (loss) before income taxes was reduced by $
40 million
for Bottling Investments, primarily attributable to the Company's proportionate share of asset impairments and restructuring charges recorded by certain of our equity method investees. Refer to Note 10.
|
•
|
Income (loss) before income taxes was reduced by $
8 million
for Corporate due to the net charge we recognized on the repurchase and/or exchange of certain long-term debt assumed in connection with our acquisition of CCE's North American business. Refer to Note 6.
|
•
|
Income (loss) before income taxes was reduced by $
5 million
for Corporate due to the finalization of working capital adjustments related to the sale of our Norwegian and Swedish bottling operations to New CCE. Refer to Note 10.
|
•
|
Operating income (loss) and income (loss) before income taxes were reduced by $
4 million
for Eurasia and Africa, $
43 million
for Europe, $
8 million
for North America, $
13 million
for Pacific, $
56 million
for Bottling Investments and $
150 million
for Corporate, primarily due to the Company's ongoing productivity, integration and restructuring initiatives as well as transaction costs incurred in connection with our acquisition of CCE's North American business and the sale of our Norwegian and Swedish bottling operations to New CCE. Refer to Note 11 for additional information on our productivity, integration and restructuring initiatives.
|
•
|
Income (loss) before income taxes was reduced by $
103 million
for Corporate due to the remeasurement of our Venezuelan subsidiary's net assets. Subsequent to December 31, 2009, the Venezuelan government announced a currency devaluation, and Venezuela was determined to be a hyperinflationary economy. Refer to Note 10.
|
•
|
Income (loss) before income taxes was reduced by $
55 million
for Bottling Investments. This net charge was primarily attributable to the Company's proportionate share of unusual tax charges, asset impairments, restructuring charges and transaction costs recorded by equity method investees, which were partially offset by our proportionate share of a foreign currency remeasurement gain recorded by an equity method investee. The components of the net charge were individually insignificant. Refer to Note 10.
|
•
|
Income (loss) before income taxes was increased by $
23 million
for Corporate due to the gain on the sale of
50 percent
of our investment in Leão Junior. Refer to Note 10.
|
•
|
Income (loss) before income taxes was reduced by $
23 million
for Bottling Investments and $
3 million
for Corporate, primarily due to other-than-temporary impairments of available-for-sale securities. Refer to Note 10 and Note 14.
|
September 30, 2011
|
Fair
Value
|
|
Carrying
Value
|
|
Difference
|
|
|||
Coca-Cola FEMSA, S.A.B. de C.V.
|
$
|
5,794
|
|
$
|
1,405
|
|
$
|
4,389
|
|
Coca-Cola Amatil Limited
|
2,570
|
|
959
|
|
1,611
|
|
|||
Coca-Cola Hellenic Bottling Company S.A.
|
1,523
|
|
1,580
|
|
(57
|
)
|
|||
Coca-Cola Icecek A.S.
|
743
|
|
171
|
|
572
|
|
|||
Embotelladoras Coca-Cola Polar S.A.
|
166
|
|
98
|
|
68
|
|
|||
Coca-Cola Bottling Co. Consolidated
|
138
|
|
84
|
|
54
|
|
|||
|
$
|
10,934
|
|
$
|
4,297
|
|
$
|
6,637
|
|
•
|
on October 2, 2010, in legally separate transactions, we acquired the North American business of Coca-Cola Enterprises Inc. ("CCE") and entered into a license agreement with Dr Pepper Snapple Group, Inc. ("DPS"); and
|
•
|
on October 2, 2010, we sold all of our ownership interests in Coca-Cola Drikker AS (the "Norwegian bottling operation") and Coca-Cola Drycker Sverige AB (the "Swedish bottling operation").
|
|
Percent Change
2011 versus 2010
|
|||||||
|
Third Quarter
|
Year-to-Date
|
||||||
|
Unit Cases
1,2,3
|
|
Concentrate
Sales
4
|
|
Unit Cases
1,2,3
|
|
Concentrate
Sales
4
|
|
Worldwide
|
5
|
%
|
5
|
%
|
6
|
%
|
5
|
%
|
Eurasia & Africa
|
6
|
%
|
5
|
%
|
7
|
%
|
4
|
%
|
Europe
|
—
|
|
(2
|
)
|
2
|
|
1
|
|
Latin America
|
7
|
|
5
|
|
7
|
|
5
|
|
North America
|
5
|
|
8
|
|
5
|
|
5
|
|
Pacific
|
5
|
|
3
|
|
6
|
|
5
|
|
Bottling Investments
|
—
|
|
N/A
|
|
(1
|
)
|
N/A
|
|
|
Percent Change 2011 vs. 2010
|
|||||||||
|
Volume
2
|
|
Structural
Changes
|
|
Price, Product &
Geographic Mix
|
|
Currency
Fluctuations
|
|
Total
|
|
International (including Bottling Investments)
1
|
4
|
%
|
(3
|
)%
|
2
|
%
|
6
|
%
|
9
|
%
|
Eurasia & Africa
|
5
|
%
|
—
|
%
|
8
|
%
|
2
|
%
|
15
|
%
|
Europe
|
(2
|
)
|
—
|
|
1
|
|
6
|
|
5
|
|
Latin America
|
5
|
|
(1
|
)
|
8
|
|
5
|
|
17
|
|
Pacific
|
3
|
|
—
|
|
(4
|
)
|
9
|
|
8
|
|
Bottling Investments
|
4
|
|
(11
|
)
|
3
|
|
9
|
|
5
|
|
•
|
Our international and Bottling Investments operating segments' results were unfavorably impacted by geographic mix as a result of growth in our emerging and developing markets. The growth in our emerging and developing markets resulted in unfavorable geographic mix due to the fact that the revenue per unit sold in these markets is generally less than in developed markets;
|
•
|
Eurasia and Africa was favorably impacted by price mix as a result of pricing increases in key markets;
|
•
|
Europe was favorably impacted by price mix as a result of pricing increases in key markets, partially offset by a change in concentrate pricing strategy in Germany with our consolidated bottler;
|
•
|
Latin America was favorably impacted by pricing in a number of our key markets, including Brazil. Also, still beverages grew faster than sparkling beverages, bolstered by the strong performance of Del Valle;
|
•
|
Pacific was unfavorably impacted by geographic mix due to growth in our emerging and developing markets such as China. The revenue per unit sold in these markets is generally less than in developed markets; and
|
•
|
Pacific was unfavorably impacted by channel and product mix due to the earthquake and tsunami that devastated northern and eastern Japan on March 11, 2011.
|
|
Percent Change 2011 vs. 2010
|
|||||||||
|
Volume
2
|
|
Structural
Changes
|
|
Price, Product &
Geographic Mix
|
|
Currency
Fluctuations
|
|
Total
|
|
International (including Bottling Investments)
1
|
4
|
%
|
(3
|
)%
|
2
|
%
|
6
|
%
|
9
|
%
|
Eurasia & Africa
|
4
|
%
|
—
|
%
|
6
|
%
|
2
|
%
|
12
|
%
|
Europe
|
1
|
|
—
|
|
(1
|
)
|
4
|
|
4
|
|
Latin America
|
5
|
|
(3
|
)
|
7
|
|
7
|
|
16
|
|
Pacific
|
5
|
|
—
|
|
(3
|
)
|
8
|
|
10
|
|
Bottling Investments
|
4
|
|
(11
|
)
|
3
|
|
7
|
|
3
|
|
•
|
Our international and Bottling Investments operating segments' results were unfavorably impacted by geographic mix as a result of growth in our emerging and developing markets. The growth in our emerging and developing markets resulted in unfavorable geographic mix due to the fact that the revenue per unit sold in these markets is generally less than in developed markets;
|
•
|
Eurasia and Africa was favorably impacted by price mix as a result of pricing increases in key markets;
|
•
|
Europe was unfavorably impacted by price mix as a result of a change in concentrate pricing strategy in Germany with our consolidated bottler, partially offset by pricing increases in key markets;
|
•
|
Latin America was favorably impacted by pricing in a number of our key markets, including Brazil. Also, still beverages grew faster than sparkling beverages, bolstered by the strong performance of Del Valle;
|
•
|
Pacific was unfavorably impacted by geographic mix due to growth in our emerging and developing markets such as China. The revenue per unit sold in these markets is generally less than in developed markets; and
|
•
|
Pacific was unfavorably impacted by channel and product mix due to the earthquake and tsunami that devastated northern and eastern Japan on March 11, 2011.
|
|
Three Months Ended
|
Nine Months Ended
|
||||||||||
|
September 30,
2011 |
|
October 1,
2010 |
|
September 30,
2011 |
|
October 1,
2010 |
|
||||
Stock-based compensation expense
|
$
|
87
|
|
$
|
71
|
|
$
|
268
|
|
$
|
185
|
|
Advertising expenses
|
895
|
|
936
|
|
2,503
|
|
2,299
|
|
||||
Bottling and distribution expenses
1
|
2,158
|
|
666
|
|
6,385
|
|
1,980
|
|
||||
Other operating expenses
|
1,387
|
|
1,391
|
|
3,873
|
|
4,183
|
|
||||
Selling, general and administrative expenses
|
$
|
4,527
|
|
$
|
3,064
|
|
$
|
13,029
|
|
$
|
8,647
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||
|
September 30,
2011 |
|
October 1,
2010 |
|
|
September 30,
2011 |
|
October 1,
2010 |
|
||||
Eurasia & Africa
|
$
|
—
|
|
$
|
1
|
|
|
$
|
9
|
|
$
|
4
|
|
Europe
|
2
|
|
13
|
|
|
5
|
|
43
|
|
||||
Latin America
|
2
|
|
—
|
|
|
3
|
|
—
|
|
||||
North America
|
52
|
|
(2
|
)
|
|
229
|
|
8
|
|
||||
Pacific
|
—
|
|
8
|
|
|
53
|
|
13
|
|
||||
Bottling Investments
|
14
|
|
12
|
|
|
58
|
|
56
|
|
||||
Corporate
|
26
|
|
68
|
|
|
100
|
|
150
|
|
||||
Total
|
$
|
96
|
|
$
|
100
|
|
|
$
|
457
|
|
$
|
274
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||
|
September 30, 2011
|
|
October 1,
2010 |
|
|
September 30, 2011
|
|
October 1,
2010 |
|
Eurasia & Africa
|
9.6
|
%
|
9.4
|
%
|
|
10.5
|
%
|
10.7
|
%
|
Europe
|
29.5
|
|
31.7
|
|
|
30.4
|
|
32.8
|
|
Latin America
|
28.1
|
|
26.3
|
|
|
26.4
|
|
24.6
|
|
North America
|
22.5
|
|
21.5
|
|
|
22.2
|
|
19.7
|
|
Pacific
|
22.1
|
|
25.0
|
|
|
21.6
|
|
22.8
|
|
Bottling Investments
|
2.8
|
|
3.3
|
|
|
2.3
|
|
3.0
|
|
Corporate
|
(14.6
|
)
|
(17.2
|
)
|
|
(13.4
|
)
|
(13.6
|
)
|
Total
|
100
|
%
|
100
|
%
|
|
100
|
%
|
100
|
%
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||
|
September 30, 2011
|
|
October 1,
2010 |
|
|
September 30, 2011
|
|
October 1,
2010 |
|
Consolidated
|
22.5
|
%
|
27.8
|
%
|
|
23.1
|
%
|
29.6
|
%
|
Eurasia & Africa
|
38.7
|
%
|
36.9
|
%
|
|
41.9
|
%
|
42.7
|
%
|
Europe
|
67.1
|
|
67.0
|
|
|
67.0
|
|
70.3
|
|
Latin America
|
66.5
|
|
62.3
|
|
|
65.4
|
|
62.7
|
|
North America
|
11.5
|
|
23.3
|
|
|
11.7
|
|
22.6
|
|
Pacific
|
39.6
|
|
41.0
|
|
|
42.4
|
|
44.1
|
|
Bottling Investments
|
3.4
|
|
3.7
|
|
|
2.9
|
|
3.5
|
|
Corporate
|
*
|
|
*
|
|
|
*
|
|
*
|
|
•
|
During the
three and nine months ended
September 30, 2011
, fluctuations in foreign currency exchange rates favorably impacted consolidated operating income by 7 percent and 5 percent, respectively, primarily due to a weaker U.S. dollar compared to most foreign currencies, including the euro, Japanese yen, Mexican peso, Brazilian real, U.K. pound sterling, South African rand and Australian dollar, which had a favorable impact on the Eurasia and Africa, Europe, Latin America, Pacific and Bottling Investments operating segments.
|
•
|
During the
three months ended
September 30, 2011
, operating income was favorably impacted by fluctuations in foreign currency exchange rates by 2 percent for Eurasia and Africa, 5 percent for Europe, 6 percent for Latin America, 1 percent for North America, 7 percent for Pacific, 12 percent for Bottling Investments and 4 percent for Corporate.
|
•
|
During the
nine months ended
September 30, 2011
, operating income was favorably impacted by fluctuations in foreign currency exchange rates by 1 percent for Eurasia and Africa, 3 percent for Europe, 8 percent for Latin America, 1 percent for North America, 8 percent for Pacific, 9 percent for Bottling Investments and 2 percent for Corporate.
|
•
|
During the
three and nine months ended
September 30, 2011
, our operating margin was favorably impacted by geographic mix. The favorable geographic mix was primarily due to many of our emerging markets recovering from the global recession at a quicker pace than our developed markets. Although this shift in geographic mix has a negative impact on net operating revenues, it generally has a favorable impact on our gross profit margin due to the correlated impact it has on our product mix. The product mix in the majority of our emerging and developing markets is more heavily skewed toward products in our sparkling beverage portfolio, which generally yield a higher gross profit margin when compared to our still beverages and finished products. Consequently, the shift in our geographic mix is driving favorable product mix from a global perspective.
|
•
|
During the
three and nine months ended
September 30, 2011
, the operating margin for North America was unfavorably impacted by the Company's acquisition of CCE's North American business. Generally, bottling and finished products operations have higher net operating revenues but lower operating margins when compared to concentrate and syrup operations. The impact of this transaction was also reflected in the Company's consolidated operating margin. Refer to the heading "Structural Changes, Acquired Brands and New License Agreements," above.
|
•
|
During the
three and nine months ended
September 30, 2011
, operating income for Europe was unfavorably impacted by a change in our concentrate pricing strategy in Germany with our consolidated bottler.
|
•
|
During the
three months ended
September 30, 2011
, operating income and operating margin for Latin America were favorably impacted by the timing of marketing expenses.
|
•
|
During the
three and nine months ended
September 30, 2011
, operating income and operating margin for Latin America were favorably impacted by volume growth across all of the group's business units and pricing increases, partially offset by continued investments in the business.
|
•
|
During the
three and nine months ended
September 30, 2011
, operating income and operating margin for North America were unfavorably impacted by higher commodity costs in the segment's finished goods businesses.
|
•
|
During the
nine months ended
September 30, 2011
, operating income was reduced by $19 million for North America due to the amortization of favorable supply contracts acquired in connection with our acquisition of CCE's North American business.
|
•
|
During the
nine months ended
September 30, 2011
, operating income and operating margin for the Pacific operating segment were unfavorably impacted as a result of the earthquake and tsunami that devastated northern and eastern Japan on March 11, 2011. Operating income for the Pacific operating segment was reduced by $84 million for the
nine months ended
September 30, 2011
, primarily due to the Company's charitable donations in support of relief and rebuilding efforts in Japan as well as funds we provided certain bottling partners in the affected regions.
|
•
|
During the
three and nine months ended
September 30, 2011
, operating income and operating margin for Bottling Investments were unfavorably impacted by higher commodity costs, partially offset by a change in our concentrate pricing strategy in Germany.
|
•
|
During the
three months ended
September 30, 2011
, operating income was reduced by $2 million for Europe, $2 million for Latin America, $52 million for North America, $2 million for Pacific, $14 million for Bottling Investments and $26 million for Corporate due to the Company's ongoing productivity, integration and restructuring initiatives as well as costs associated with the merger of Arca and Contal.
|
•
|
During the
nine months ended
September 30, 2011
, operating income was reduced by $9 million for Eurasia and Africa, $5 million for Europe, $3 million for Latin America, $229 million for North America, $3 million for Pacific, $58 million for Bottling Investments and $100 million for Corporate, primarily due to the Company's ongoing productivity, integration and restructuring initiatives as well as costs associated with the merger of Arca and Contal.
|
•
|
During the
three months ended
October 1, 2010
, operating income was reduced by $1 million for Eurasia and Africa, $13 million for Europe, $8 million for Pacific, $12 million for Bottling Investments and $68 million for Corporate due to the Company's ongoing productivity, integration and restructuring initiatives as well as transaction costs incurred in connection with our acquisition of CCE's North American business and the sale of our Norwegian and Swedish bottling operations to New CCE. During the same period, operating income for North America was increased by $2 million due to the refinement of previously established restructuring accruals.
|
•
|
During the
nine months ended
October 1, 2010
, operating income was reduced by $4 million for Eurasia and Africa, $43 million for Europe, $8 million for North America, $13 million for Pacific, $56 million for Bottling Investments and $150 million for Corporate due to the Company's ongoing productivity, integration and restructuring initiatives as well as transaction costs incurred in connection with our acquisition of CCE's North American business and the sale of our Norwegian and Swedish bottling operations to New CCE.
|
•
|
$
1,655 million
total principal amount of notes due September 1, 2016, at a fixed interest rate of
1.8 percent
; and
|
•
|
$
1,324 million
total principal amount of notes due September 1, 2021, at a fixed interest rate of
3.3 percent
.
|
|
Three Months Ended
|
|
Nine Months Ended
|
|
||||||||||||
|
September 30,
2011 |
|
|
October 1,
2010 |
|
|
September 30,
2011 |
|
|
October 1,
2010 |
|
|
||||
Asset impairments
|
$
|
—
|
|
1
|
$
|
—
|
|
|
$
|
(15
|
)
|
1
|
$
|
—
|
|
11
|
Productivity, integration, restructuring and transaction costs
|
(25
|
)
|
2
|
(19
|
)
|
8
|
(111
|
)
|
2
|
(59
|
)
|
8
|
||||
Transaction gains and losses
|
(5
|
)
|
3
|
10
|
|
9
|
203
|
|
6
|
10
|
|
9
|
||||
Certain tax matters
|
(4
|
)
|
4
|
13
|
|
4
|
15
|
|
4
|
42
|
|
12
|
||||
Other — net
|
(6
|
)
|
5
|
(1
|
)
|
10
|
(44
|
)
|
7
|
(7
|
)
|
13
|
•
|
$
1,655 million
total principal amount of notes due September 1, 2016, at a fixed interest rate of
1.8 percent
; and
|
•
|
$
1,324 million
total principal amount of notes due September 1, 2021, at a fixed interest rate of
3.3 percent
.
|
|
September 30, 2011
|
|
December 31, 2010
|
|
Increase
(Decrease)
|
|
|
Percentage
Change
|
|
||||
Cash and cash equivalents
|
$
|
12,682
|
|
$
|
8,517
|
|
$
|
4,165
|
|
|
49
|
%
|
|
Short-term investments
|
3,684
|
|
2,682
|
|
1,002
|
|
|
37
|
|
||||
Marketable securities
|
131
|
|
138
|
|
(7
|
)
|
|
(5
|
)
|
||||
Trade accounts receivable — net
|
5,131
|
|
4,430
|
|
701
|
|
|
16
|
|
||||
Inventories
|
3,172
|
|
2,650
|
|
522
|
|
|
20
|
|
||||
Prepaid expenses and other assets
|
3,391
|
|
3,162
|
|
229
|
|
|
7
|
|
||||
Equity method investments
|
7,073
|
|
6,954
|
|
119
|
|
|
2
|
|
||||
Other investments, principally bottling companies
|
1,264
|
|
631
|
|
633
|
|
|
100
|
|
||||
Other assets
|
3,219
|
|
2,121
|
|
1,098
|
|
|
52
|
|
||||
Property, plant and equipment — net
|
14,522
|
|
14,727
|
|
(205
|
)
|
|
(1
|
)
|
||||
Trademarks with indefinite lives
|
6,501
|
|
6,356
|
|
145
|
|
|
2
|
|
||||
Bottlers' franchise rights with indefinite lives
|
7,716
|
|
7,511
|
|
205
|
|
|
3
|
|
||||
Goodwill
|
12,073
|
|
11,665
|
|
408
|
|
|
3
|
|
||||
Other intangible assets
|
1,194
|
|
1,377
|
|
(183
|
)
|
|
(13
|
)
|
||||
Total assets
|
$
|
81,753
|
|
$
|
72,921
|
|
$
|
8,832
|
|
|
12
|
%
|
|
Accounts payable and accrued expenses
|
$
|
9,837
|
|
$
|
8,859
|
|
$
|
978
|
|
|
11
|
%
|
|
Loans and notes payable
|
13,398
|
|
8,100
|
|
5,298
|
|
|
65
|
|
||||
Current maturities of long-term debt
|
2,082
|
|
1,276
|
|
806
|
|
|
63
|
|
||||
Accrued income taxes
|
264
|
|
273
|
|
(9
|
)
|
|
(3
|
)
|
||||
Long-term debt
|
13,708
|
|
14,041
|
|
(333
|
)
|
|
(2
|
)
|
||||
Other liabilities
|
4,404
|
|
4,794
|
|
(390
|
)
|
|
(8
|
)
|
||||
Deferred income taxes
|
4,561
|
|
4,261
|
|
300
|
|
|
7
|
|
||||
Total liabilities
|
$
|
48,254
|
|
$
|
41,604
|
|
$
|
6,650
|
|
|
16
|
%
|
|
Net assets
|
$
|
33,499
|
|
$
|
31,317
|
|
$
|
2,182
|
|
1
|
|
7
|
%
|
•
|
Trade accounts receivable — net increased $
701 million
, or
16 percent
, primarily due to increased sales volume. Sales of our products are somewhat seasonal, with the second and third calendar quarters accounting for the highest sales volumes. In addition, the Company temporarily extended its credit terms in Japan for the remainder of the year as a result of the natural disasters that impacted the country during the first quarter of 2011.
|
•
|
Inventories increased $
522 million
, or
20 percent
, primarily due to the Company building inventory during the second and third calendar quarters in preparation for anticipated sales volume.
|
•
|
Other investments, principally bottling companies increased $
633 million
, or
100 percent
, primarily due to the merger of Arca and Contal. Refer to Note 10 of Notes to Condensed Consolidated Financial Statements for additional information related to the merger.
|
•
|
Other assets increased $
1,098 million
, or
52 percent
, primarily due to solvency capital for our Ireland-based captive insurance company and the impact of certain pension contributions. These pension contributions resulted in certain plans being in a net asset position.
|
•
|
Trademarks with indefinite lives increased $
145 million
, or
2 percent
, primarily due to the impact of our acquisition of Honest Tea.
|
•
|
Bottlers' franchise rights with indefinite lives increased $
205 million
, or
3 percent
, including the impact of translation and purchase accounting adjustments related to our acquisition of CCE's North American business.
|
•
|
Goodwill increased $
408 million
, or
3 percent
, primarily due to the impact of our acquisition of Honest Tea and purchase accounting adjustments related to our acquisition of CCE's North American business.
|
•
|
Loans and notes payable increased $
5,298 million
, or
65 percent
, primarily due to an increase in our commercial paper balances.
|
•
|
Long-term debt decreased $
333 million
, or
2 percent
, primarily due to a reclassification of the current portion of long-term debt and the repurchase of debt the Company assumed in connection with our acquisition of CCE's North American business.
|
•
|
Other liabilities decreased $
390 million
, or
8 percent
, primarily due to the Company's contributions to our pension plans.
|
•
|
Deferred income taxes increased $
300 million
, or
7 percent
, primarily due to the merger of Arca and Contal, offset by the impact of purchase accounting adjustments related to our acquisition of CCE's North American business.
|
Period
|
Total Number
of Shares
Purchased
1
|
|
Average
Price Paid
Per Share
|
|
Total Number
of Shares
Purchased as
Part of
Publicly
Announced
Plan
2
|
|
Maximum
Number of
Shares That May
Yet Be
Purchased Under
the Publicly
Announced
Plan
|
|
|
July 2, 2011 through July 29, 2011
|
2,007,257
|
|
$
|
69.06
|
|
2,000,000
|
|
126,281,036
|
|
July 30, 2011 through August 26, 2011
|
14,688,058
|
|
$
|
67.58
|
|
14,650,254
|
|
111,630,782
|
|
August 27, 2011 through September 30, 2011
|
16,595,231
|
|
$
|
69.91
|
|
16,521,634
|
|
95,109,148
|
|
Total
|
33,290,546
|
|
$
|
68.83
|
|
33,171,888
|
|
|
|
•
|
should not in all instances be treated as categorical statements of fact, but rather as a way of allocating the risk to one of the parties if those statements prove to be inaccurate;
|
•
|
may have been qualified by disclosures that were made to the other party in connection with the negotiation of the applicable agreement, which disclosures are not necessarily reflected in the agreement;
|
•
|
may apply standards of materiality in a way that is different from what may be viewed as material to you or other investors; and
|
•
|
were made only as of the date of the applicable agreement or such other date or dates as may be specified in the agreement and are subject to more recent developments.
|
Exhibit No.
|
|
(With regard to applicable cross-references in the list of exhibits below, the Company's Current, Quarterly and Annual Reports are filed with the Securities and Exchange Commission (the "SEC") under File No. 001-02217.)
|
|
3.1
|
Certificate of Incorporation of the Company, including Amendment of Certificate of Incorporation, effective May 1, 1996 — incorporated herein by reference to Exhibit 3 of the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 1996.
|
3.2
|
By-Laws of the Company, as amended and restated through April 17, 2008 — incorporated herein by reference to Exhibit 3.2 of the Company's Quarterly Report on Form 10-Q for the quarter ended June 27, 2008.
|
4.1
|
As permitted by the rules of the SEC, the Company has not filed certain instruments defining the rights of holders of long-term debt of the Company or consolidated subsidiaries under which the total amount of securities authorized does not exceed 10 percent of the total assets of the Company and its consolidated subsidiaries. The Company agrees to furnish to the SEC, upon request, a copy of any omitted instrument.
|
4.2
|
Amended and Restated Indenture, dated as of April 26, 1988, between the Company and Deutsche Bank Trust Company Americas, as successor to Bankers Trust Company, as trustee — incorporated herein by reference to Exhibit 4.1 to the Company's Registration Statement on Form S-3 (Registration No. 33-50743) filed on October 25, 1993.
|
4.3
|
First Supplemental Indenture, dated as of February 24, 1992, to Amended and Restated Indenture, dated as of April 26, 1988, between the Company and Deutsche Bank Trust Company Americas, as successor to Bankers Trust Company, as trustee — incorporated herein by reference to Exhibit 4.2 to the Company's Registration Statement on Form S-3 (Registration No. 33-50743) filed on October 25, 1993.
|
4.4
|
Second Supplemental Indenture, dated as of November 1, 2007, to Amended and Restated Indenture, dated as of April 26, 1988, as amended, between the Company and Deutsche Bank Trust Company Americas, as successor to Bankers Trust Company, as trustee — incorporated herein by reference to Exhibit 4.3 of the Company's Current Report on Form 8-K filed on March 5, 2009.
|
4.5
|
Form of Note for 5.350% Notes due November 15, 2017 — incorporated herein by reference to Exhibit 4.1 to the Company's Current Report on Form 8-K filed October 31, 2007.
|
4.6
|
Form of Note for 3.625% Notes due March 15, 2014 — incorporated herein by reference to Exhibit 4.4 of the Company's Current Report on Form 8-K filed on March 5, 2009.
|
4.7
|
Form of Note for 4.875% Notes due March 15, 2019 — incorporated herein by reference to Exhibit 4.5 of the Company's Current Report on Form 8-K filed on March 5, 2009.
|
4.8
|
Form of Note for Floating Rate Notes due May 15, 2012 — incorporated herein by reference to Exhibit 4.4 to the Company's Current Report on Form 8-K filed November 18, 2010.
|
4.9
|
Form of Note for 0.750% Notes due November 15, 2013 — incorporated herein by reference to Exhibit 4.5 to the Company's Current Report on Form 8-K filed November 18, 2010.
|
4.10
|
Form of Note for 1.500% Notes due November 15, 2015 — incorporated herein by reference to Exhibit 4.6 to the Company's Current Report on Form 8-K filed November 18, 2010.
|
4.11
|
Form of Note for 3.150% Notes due November 15, 2020 — incorporated herein by reference to Exhibit 4.7 to the Company's Current Report on Form 8-K filed November 18, 2010.
|
4.12
|
Form of Registration Rights Agreement among the Company, the representatives of the initial purchasers of the Notes and the other parties named therein — incorporated herein by reference to Exhibit 4.1 to the Company's Current Report on Form 8-K filed August 8, 2011.
|
4.13
|
Form of Note for 1.80% Notes due September 1, 2016.
|
4.14
|
Form of Note for 3.30% Notes due September 1, 2021.
|
10.1
|
Amendment Number One to the Coca-Cola Refreshments Executive Pension Plan (Amended and Restated Effective January 1, 2011), dated as of July 14, 2011.*
|
10.2
|
Amendment Number Two to the Coca-Cola Refreshments USA, Inc. Executive Severance Plan (Amended and Restated Effective December 31, 2008), dated as of July 14, 2011.*
|
12.1
|
Computation of Ratios of Earnings to Fixed Charges.
|
31.1
|
Rule 13a-14(a)/15d-14(a) Certification, executed by Muhtar Kent, Chairman of the Board of Directors, Chief Executive Officer and President of The Coca-Cola Company.
|
31.2
|
Rule 13a-14(a)/15d-14(a) Certification, executed by Gary P. Fayard, Executive Vice President and Chief Financial Officer of The Coca-Cola Company.
|
32.1
|
Certifications required by Rule 13a-14(b) or Rule 15d-14(b) and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. Section 1350), executed by Muhtar Kent, Chairman of the Board of Directors, Chief Executive Officer and President of The Coca-Cola Company, and by Gary P. Fayard, Executive Vice President and Chief Financial Officer of The Coca-Cola Company.
|
101
|
The following financial information from The Coca-Cola Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2011, formatted in XBRL (eXtensible Business Reporting Language): (i) Condensed Consolidated Statements of Income for the three and nine months ended September 30, 2011, and October 1, 2010, (ii) Condensed Consolidated Balance Sheets at September 30, 2011, and December 31, 2010, (iii) Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2011, and October 1, 2010, and (iv) the Notes to Condensed Consolidated Financial Statements.
|
|
|
THE COCA-COLA COMPANY
(REGISTRANT)
|
|
|
|
|
|
/s/ Kathy N. Waller
|
Date:
|
October 27, 2011
|
Kathy N. Waller
Vice President and Controller
(On behalf of the Registrant and
as Chief Accounting Officer)
|
Exhibit No.
|
|
(With regard to applicable cross-references in the list of exhibits below, the Company's Current, Quarterly and Annual Reports are filed with the Securities and Exchange Commission (the "SEC") under File No. 001-02217.)
|
|
3.1
|
Certificate of Incorporation of the Company, including Amendment of Certificate of Incorporation, effective May 1, 1996 — incorporated herein by reference to Exhibit 3 of the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 1996.
|
3.2
|
By-Laws of the Company, as amended and restated through April 17, 2008 — incorporated herein by reference to Exhibit 3.2 of the Company's Quarterly Report on Form 10-Q for the quarter ended June 27, 2008.
|
4.1
|
As permitted by the rules of the SEC, the Company has not filed certain instruments defining the rights of holders of long-term debt of the Company or consolidated subsidiaries under which the total amount of securities authorized does not exceed 10 percent of the total assets of the Company and its consolidated subsidiaries. The Company agrees to furnish to the SEC, upon request, a copy of any omitted instrument.
|
4.2
|
Amended and Restated Indenture, dated as of April 26, 1988, between the Company and Deutsche Bank Trust Company Americas, as successor to Bankers Trust Company, as trustee — incorporated herein by reference to Exhibit 4.1 to the Company's Registration Statement on Form S-3 (Registration No. 33-50743) filed on October 25, 1993.
|
4.3
|
First Supplemental Indenture, dated as of February 24, 1992, to Amended and Restated Indenture, dated as of April 26, 1988, between the Company and Deutsche Bank Trust Company Americas, as successor to Bankers Trust Company, as trustee — incorporated herein by reference to Exhibit 4.2 to the Company's Registration Statement on Form S-3 (Registration No. 33-50743) filed on October 25, 1993.
|
4.4
|
Second Supplemental Indenture, dated as of November 1, 2007, to Amended and Restated Indenture, dated as of April 26, 1988, as amended, between the Company and Deutsche Bank Trust Company Americas, as successor to Bankers Trust Company, as trustee — incorporated herein by reference to Exhibit 4.3 of the Company's Current Report on Form 8-K filed on March 5, 2009.
|
4.5
|
Form of Note for 5.350% Notes due November 15, 2017 — incorporated herein by reference to Exhibit 4.1 to the Company's Current Report on Form 8-K filed October 31, 2007.
|
4.6
|
Form of Note for 3.625% Notes due March 15, 2014 — incorporated herein by reference to Exhibit 4.4 of the Company's Current Report on Form 8-K filed on March 5, 2009.
|
4.7
|
Form of Note for 4.875% Notes due March 15, 2019 — incorporated herein by reference to Exhibit 4.5 of the Company's Current Report on Form 8-K filed on March 5, 2009.
|
4.8
|
Form of Note for Floating Rate Notes due May 15, 2012 — incorporated herein by reference to Exhibit 4.4 to the Company's Current Report on Form 8-K filed November 18, 2010.
|
4.9
|
Form of Note for 0.750% Notes due November 15, 2013 — incorporated herein by reference to Exhibit 4.5 to the Company's Current Report on Form 8-K filed November 18, 2010.
|
4.10
|
Form of Note for 1.500% Notes due November 15, 2015 — incorporated herein by reference to Exhibit 4.6 to the Company's Current Report on Form 8-K filed November 18, 2010.
|
4.11
|
Form of Note for 3.150% Notes due November 15, 2020 — incorporated herein by reference to Exhibit 4.7 to the Company's Current Report on Form 8-K filed November 18, 2010.
|
4.12
|
Form of Registration Rights Agreement among the Company, the representatives of the initial purchasers of the Notes and the other parties named therein — incorporated herein by reference to Exhibit 4.1 to the Company's Current Report on Form 8-K filed August 8, 2011.
|
4.13
|
Form of Note for 1.80% Notes due September 1, 2016.
|
4.14
|
Form of Note for 3.30% Notes due September 1, 2021.
|
10.1
|
Amendment Number One to the Coca-Cola Refreshments Executive Pension Plan (Amended and Restated Effective January 1, 2011), dated as of July 14, 2011.*
|
10.2
|
Amendment Number Two to the Coca-Cola Refreshments USA, Inc. Executive Severance Plan (Amended and Restated Effective December 31, 2008), dated as of July 14, 2011.*
|
12.1
|
Computation of Ratios of Earnings to Fixed Charges.
|
31.1
|
Rule 13a-14(a)/15d-14(a) Certification, executed by Muhtar Kent, Chairman of the Board of Directors, Chief Executive Officer and President of The Coca-Cola Company.
|
31.2
|
Rule 13a-14(a)/15d-14(a) Certification, executed by Gary P. Fayard, Executive Vice President and Chief Financial Officer of The Coca-Cola Company.
|
32.1
|
Certifications required by Rule 13a-14(b) or Rule 15d-14(b) and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. Section 1350), executed by Muhtar Kent, Chairman of the Board of Directors, Chief Executive Officer and President of The Coca-Cola Company, and by Gary P. Fayard, Executive Vice President and Chief Financial Officer of The Coca-Cola Company.
|
101
|
The following financial information from The Coca-Cola Company's Quarterly Report on Form 10-Q for the quarter ended September 30, 2011, formatted in XBRL (eXtensible Business Reporting Language): (i) Condensed Consolidated Statements of Income for the three and nine months ended September 30, 2011, and October 1, 2010, (ii) Condensed Consolidated Balance Sheets at September 30, 2011, and December 31, 2010, (iii) Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2011, and October 1, 2010, and (iv) the Notes to Condensed Consolidated Financial Statements.
|
No information found
* THE VALUE IS THE MARKET VALUE AS OF THE LAST DAY OF THE QUARTER FOR WHICH THE 13F WAS FILED.
FUND | NUMBER OF SHARES | VALUE ($) | PUT OR CALL |
---|
DIRECTORS | AGE | BIO | OTHER DIRECTOR MEMBERSHIPS |
---|
No information found
Customers
Customer name | Ticker |
---|---|
Costco Wholesale Corporation | COST |
Darden Restaurants, Inc. | DRI |
Dollar General Corporation | DG |
McDonald's Corporation | MCD |
Sears Holdings Corporation | SHLDQ |
Suppliers
Supplier name | Ticker |
---|---|
Anheuser-Busch InBev SA/NV | BUD |
Danaher Corporation | DHR |
Thermo Fisher Scientific Inc. | TMO |
PepsiCo, Inc. | PEP |
Ball Corporation | BLL |
Illinois Tool Works Inc. | ITW |
Dow Inc. | DOW |
Price
Yield
Owner | Position | Direct Shares | Indirect Shares |
---|