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10-Q 2009-07-03 false The Coca-Cola Company 0000021344 Yes No --12-31 Large Accelerated Filer Yes

<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> <HTML><HEAD> <META http-equiv=Content-Type content="text/html; charset=utf-8"> <META content="MSHTML 6.00.2900.3492" name=GENERATOR></HEAD> <BODY> Note G Hedging Transactions and Derivative Financial Instruments         The Company is directly and indirectly affected by changes in certain market conditions. These changes in market conditions may adversely impact the Company's financial performance and are referred to as market risks. Our Company, when deemed appropriate, uses derivatives as a risk management tool to mitigate the potential impact of certain market risks. The primary market risks managed by the Company through the use of derivative instruments are foreign currency exchange rate risk, commodity price risk and interest rate risk. The Company accounts for derivative financial instruments in accordance with SFAS No. 133, "Accounting for Derivative Instruments and Hedging Activities"; SFAS No. 138, "Accounting for Certain Derivative Instruments and Certain Hedging Activities  an amendment of FASB Statement No. 133"; and SFAS No. 149, "Amendment of Statement 133 on Derivative Instruments and Hedging Activities."         The Company uses various types of derivative instruments including, but not limited to, forward contracts, commodity futures contracts, option contracts, collars and swaps. Forward contracts and commodity futures contracts are agreements to buy or sell a quantity of a currency or commodity at a predetermined future date, and at a predetermined rate or price. An option contract is an agreement that conveys the purchaser the right, but not the obligation, to buy or sell a quantity of a currency or commodity at a predetermined rate or price during a period or at a time in the future. A collar is a strategy that uses a combination of options to limit the range of possible positive or negative returns on an underlying asset or liability to a specific range, or to protect expected future cash flows. To do this, an investor simultaneously buys a put option and sells (writes) a call option. A swap agreement is a contract between two parties to exchange cash flows based on specified underlying notional amounts, assets and/or indices. We do not enter into derivative financial instruments for trading purposes.         All derivatives are carried at fair value in the consolidated balance sheets in the line items prepaid expenses and other assets or accounts payable and accrued expenses, as applicable. The carrying values <A name=page_xx12201_1_16></A>of the derivatives reflect the impact of legally enforceable master netting agreements and cash collateral held or placed with the same counterparties. These master netting agreements allow the Company to net settle positive and negative positions (assets and liabilities) arising from different transactions with the same counterparty.         The accounting for gains and losses that result from changes in the fair values of derivative instruments depends on whether the derivatives have been designated and qualify as hedging instruments in accordance with the accounting provisions of SFAS No. 133 and the type of hedging relationships. Derivatives can be designated as fair value hedges, cash flow hedges or hedges of net investments in foreign operations. The Company does not typically designate derivatives as fair value hedges. The change in fair values of derivatives that have been designated and qualify as cash flow hedges or hedges of net investments in foreign operations are recorded in AOCI and are reclassified into the line item in the consolidated income statement in which the hedged items are recorded in the same period the hedged items affect earnings. Due to the high degree of effectiveness between the hedging instruments and the underlying exposures being hedged, fluctuations in the value of the derivative instruments are generally offset by changes in the fair values or cash flows of the underlying exposures being hedged. The changes in fair values of derivatives that were not designated and/or did not qualify as hedging instruments are immediately recognized into earnings.         For derivatives that will be accounted for as hedging instruments in accordance with the accounting provisions of SFAS No. 133, the Company formally designates and documents, at inception, the financial instrument as a hedge of a specific underlying exposure, the risk management objective and the strategy for undertaking the hedge transaction. In addition, the Company formally assesses, both at the inception and at least quarterly thereafter, whether the financial instruments used in hedging transactions are effective at offsetting changes in either the fair values or cash flows of the related underlying exposures. Any ineffective portion of a financial instrument's change in fair value is immediately recognized into earnings.         The fair values of our derivative instruments are determined in accordance with SFAS No. 157. The Company estimates the fair values of its derivatives based on quoted market prices or pricing models using current market rates. Refer to Note H. The notional amounts of the derivative financial instruments do not necessarily represent amounts exchanged by the parties and, therefore, are not a direct measure of our exposure to the financial risks described above. The amounts exchanged are calculated by reference to the notional amounts and by other terms of the derivatives, such as interest rates, foreign currency exchange rates or other financial indices. The Company does not view the fair values of its derivatives in isolation, but rather in relation to the fair values or cash flows of the underlying hedged transactions or other exposures. Virtually all of our derivatives are straightforward over-the-counter instruments with liquid markets. Credit Risk Associated with Derivatives         We have established strict counterparty credit guidelines and enter into transactions only with financial institutions of investment grade or better. We monitor counterparty exposures regularly and review any downgrade in credit rating immediately. If a downgrade in the credit rating of a counterparty were to occur, we have provisions requiring collateral in the form of U.S. government securities for substantially all of our transactions. To mitigate presettlement risk, minimum credit <A name=page_xx12201_1_17></A>standards become more stringent as the duration of the derivative financial instrument increases. In addition, the Company's master netting agreements reduce credit risk by permitting the Company to net settle for transactions with the same counterparty. To minimize the concentration of credit risk, we enter into derivative transactions with a portfolio of financial institutions. Based on these factors, we consider the risk of counterparty default to be minimal. Cash Flow Hedging Strategy         The Company uses cash flow hedges to minimize the variability in cash flows of assets or liabilities or forecasted transactions caused by fluctuations in foreign currency exchange rates, commodity prices or interest rates. The changes in the fair values of derivatives designated as cash flow hedges are recorded in AOCI and are reclassified into the line item in the consolidated income statement in which the hedged items are recorded in the same period the hedged items affect earnings. The changes in fair values of hedges that were determined to be ineffective are immediately reclassified from AOCI into earnings. The Company did not discontinue any cash flow hedging relationships during the first six months of 2009. The maximum length of time over which the Company hedges its exposure to future cash flows is typically three years.         The Company maintains a foreign currency cash flow hedging program to reduce the risk that our eventual U.S. dollar net cash inflows from sales outside the United States and U.S. dollar net cash outflows from procurement activities will be adversely affected by changes in foreign currency exchange rates. We enter into forward contracts and purchase foreign currency options (principally euros and Japanese yen) and collars to hedge certain portions of forecasted cash flows denominated in foreign currencies. When the dollar strengthens significantly against the foreign currencies, the decline in the present value of future foreign currency cash flows is partially offset by gains in the fair value of the derivative instruments. Conversely, when the dollar weakens, the increase in the present value of future foreign currency cash flows is partially offset by losses in the fair value of the derivative instruments. The total notional value of derivatives that have been designated and qualify for the Company's foreign currency cash flow hedging program as of July 3, 2009, was approximately $2,882 million.         The Company has entered into commodity futures contracts and other derivative instruments on various commodities to mitigate the price risk associated with forecasted purchases of materials used in our manufacturing process. The derivative instruments have been designated and qualify as part of the Company's commodity cash flow hedging program. The objective of this hedging program is to reduce the variability of cash flows associated with future purchases of certain commodities. The total notional value of derivatives that have been designated and qualify under this program as of July 3, 2009, was approximately $60 million.         Our Company monitors our mix of short-term debt and long-term debt. From time to time, we manage our risk to interest rate fluctuations through the use of derivative financial instruments. The Company had no outstanding derivative instruments under this hedging program as of July 3, 2009. <A name=page_xx12201_1_19></A> Hedges of Net Investments in Foreign Operations Strategy         The Company uses forward contracts to protect the value of our investments in a number of foreign subsidiaries. For derivative instruments that are designated and qualify as hedges of net investments in foreign operations, the changes in fair values of the derivative instruments are recognized in foreign currency translation adjustment, a component of AOCI, to offset the changes in the values of the net investments being hedged. Any ineffective portions of net investment hedges are reclassified from AOCI into earnings during the period of change. The total notional value of derivatives that have been designated and qualify as hedges of net investments in foreign operations as of July 3, 2009, was approximately $130 million. Economic Hedging Strategy         In addition to derivative instruments that are designated and qualify for hedge accounting, the Company also uses certain derivatives as economic hedges. Although these derivatives were not designated and/or did not qualify for hedge accounting in accordance with the accounting provisions of SFAS No. 133, they are effective economic hedges. The Company primarily uses economic hedges to offset the earnings impact that fluctuations in foreign currency exchange rates have on certain monetary assets and liabilities denominated in nonfunctional currencies. The changes in fair values of these economic hedges are immediately recognized into earnings in the line item other income (loss)  net. The total notional value of our economic hedges of this type as of July 3, 2009, was approximately $1,506 million. The Company's other economic hedges are not significant to the Company's consolidated financial statements. The following table presents the fair values of the Company's derivative instruments that were designated and qualified as part of a hedging relationship as of July 3, 2009 (in millions):  <DIV align=center> <TABLE cellSpacing=0 cellPadding=0 width="100%" border=0> <TBODY> <TR> <TD style="FONT-FAMILY: times" width=9></TD> <TD style="FONT-FAMILY: times" width=9></TD> <TD style="FONT-FAMILY: times" width=192></TD> <TD style="FONT-FAMILY: times" width=12></TD> <TD style="FONT-FAMILY: times" width=173></TD> <TD style="FONT-FAMILY: times" width=12></TD> <TD style="FONT-FAMILY: times" align=right width=4></TD> <TD style="FONT-FAMILY: times" width=49></TD> <TD style="FONT-FAMILY: times" width=3></TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=3>Derivatives Designated as Hedging Instruments</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times">Balance Sheet Location1</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>Fair Value</TD> <TD style="FONT-FAMILY: times">1,2</TD></TR> <TR style="FONT-SIZE: 1.5pt" vAlign=top> <TD style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" colSpan=8> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times" colSpan=3>Assets</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" colSpan=2>Foreign currency contracts</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times">Prepaid expenses and other assets</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  39</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR style="FONT-SIZE: 1.5pt" vAlign=top> <TD style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" colSpan=8> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times">Total assets</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  39</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR style="FONT-SIZE: 1.5pt" vAlign=top> <TD style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" colSpan=8> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times" colSpan=3>Liabilities</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" colSpan=2>Foreign currency contracts</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times">Accounts payable and accrued expenses</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  31</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" colSpan=2>Commodity futures</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times">Accounts payable and accrued expenses</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>24</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR style="FONT-SIZE: 1.5pt" vAlign=top> <TD style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" colSpan=8> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times">Total liabilities</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  55</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR style="FONT-SIZE: 1.5pt" vAlign=top> <TD style="BORDER-BOTTOM: #000000 2.25pt solid; FONT-FAMILY: times" colSpan=8> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=8> 1 All of the Company's derivative instruments are carried at fair value in the consolidated balance sheets after considering the impact of legally enforceable master netting agreements and cash collateral held or placed with the same counterparties. SFAS No. 161 requires the fair value of all derivatives to be disclosed without reflecting the impact of master netting agreements and cash collateral. Refer to Note H for the net presentation of the Company's derivative instruments.</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=8> 2 The fair value has been determined in accordance with SFAS No. 157. Refer to Note H.</TD> <TD style="FONT-FAMILY: times"> </TD></TR></TBODY></TABLE></DIV> <A name=page_xx12201_1_20></A>         The following table presents the fair values of the Company's derivative instruments that were not designated as hedging instruments as of July 3, 2009 (in millions):  <DIV align=center> <TABLE cellSpacing=0 cellPadding=0 width="100%" border=0> <TBODY> <TR> <TD style="FONT-FAMILY: times" width=9></TD> <TD style="FONT-FAMILY: times" width=9></TD> <TD style="FONT-FAMILY: times" width=192></TD> <TD style="FONT-FAMILY: times" width=12></TD> <TD style="FONT-FAMILY: times" width=173></TD> <TD style="FONT-FAMILY: times" width=12></TD> <TD style="FONT-FAMILY: times" align=right width=4></TD> <TD style="FONT-FAMILY: times" width=49></TD> <TD style="FONT-FAMILY: times" width=3></TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=3>Derivatives Not Designated as Hedging Instruments</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times">Balance Sheet Location1</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>Fair Value</TD> <TD style="FONT-FAMILY: times">1,2</TD></TR> <TR style="FONT-SIZE: 1.5pt" vAlign=top> <TD style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" colSpan=8> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times" colSpan=3>Assets</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" colSpan=2>Foreign currency contracts</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times">Prepaid expenses and other assets</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  37</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" colSpan=2>Commodity futures</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times">Prepaid expenses and other assets</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>3</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" colSpan=2>Other derivative instruments</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times">Prepaid expenses and other assets</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>2</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR style="FONT-SIZE: 1.5pt" vAlign=top> <TD style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" colSpan=8> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times">Total assets</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  42</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR style="FONT-SIZE: 1.5pt" vAlign=top> <TD style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" colSpan=8> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times" colSpan=3>Liabilities</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" colSpan=2>Foreign currency contracts</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times">Accounts payable and accrued expenses</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  14</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR style="FONT-SIZE: 1.5pt" vAlign=top> <TD style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" colSpan=8> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times">Total liabilities</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  14</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR style="FONT-SIZE: 1.5pt" vAlign=top> <TD style="BORDER-BOTTOM: #000000 2.25pt solid; FONT-FAMILY: times" colSpan=8> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=8> 1 All of the Company's derivative instruments are carried at fair value in the consolidated balance sheets after considering the impact of legally enforceable master netting agreements and cash collateral held or placed with the same counterparties. SFAS No. 161 requires the fair value of all derivatives to be disclosed without reflecting the impact of master netting agreements and cash collateral. Refer to Note H for the net presentation of the Company's derivative instruments.</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=8> 2 The fair value has been determined in accordance with SFAS No. 157. Refer to Note H.</TD> <TD style="FONT-FAMILY: times"> </TD></TR></TBODY></TABLE></DIV> <A name=page_xx12201_1_21></A>         The following tables present the pretax impact that changes in the fair values of derivatives designated as hedging instruments had on AOCI and earnings during the three months ended July 3, 2009 (in millions):  <DIV align=center> <TABLE cellSpacing=0 cellPadding=0 width="100%" border=0> <TBODY> <TR> <TD style="FONT-FAMILY: times" width=8></TD> <TD style="FONT-FAMILY: times" width=8></TD> <TD style="FONT-FAMILY: times" width=75></TD> <TD style="FONT-FAMILY: times" width=12></TD> <TD style="FONT-FAMILY: times" width=40></TD> <TD style="FONT-FAMILY: times" width=13></TD> <TD style="FONT-FAMILY: times" width=89></TD> <TD style="FONT-FAMILY: times" width=12></TD> <TD style="FONT-FAMILY: times" width=63></TD> <TD style="FONT-FAMILY: times" width=13></TD> <TD style="FONT-FAMILY: times" width=89></TD> <TD style="FONT-FAMILY: times" width=12></TD> <TD style="FONT-FAMILY: times" width=68></TD> <TD style="FONT-FAMILY: times" width=3></TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times" colSpan=3> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" vAlign=bottom align=right>Gain (Loss) Recognized in OCI</TD> <TD style="FONT-FAMILY: times" vAlign=bottom> </TD> <TD style="FONT-FAMILY: times" vAlign=bottom align=right>Location of Gain (Loss) Reclassified from AOCI into Income (Effective Portion)</TD> <TD style="FONT-FAMILY: times" vAlign=bottom> </TD> <TD style="FONT-FAMILY: times" vAlign=bottom align=right>Gain (Loss) Reclassified from AOCI into Income (Effective Portion)</TD> <TD style="FONT-FAMILY: times" vAlign=bottom> </TD> <TD style="FONT-FAMILY: times" vAlign=bottom align=right>Location of Gain (Loss) Reclassified from AOCI into Income (Ineffective Portion)</TD> <TD style="FONT-FAMILY: times" vAlign=bottom> </TD> <TD style="FONT-FAMILY: times" vAlign=bottom align=right>Gain (Loss) Reclassified from AOCI into Income (Ineffective Portion)</TD> <TD style="FONT-FAMILY: times" vAlign=bottom> </TD></TR> <TR style="FONT-SIZE: 1.5pt" vAlign=top> <TD style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" colSpan=13> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times" colSpan=3>Cash Flow Hedges</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" colSpan=2>Foreign currency contracts</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  (113</TD> <TD style="FONT-FAMILY: times">)</TD> <TD style="FONT-FAMILY: times" align=right>Net operating revenues</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  (37</TD> <TD style="FONT-FAMILY: times">)</TD> <TD style="FONT-FAMILY: times" align=right>Net operating revenues</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" colSpan=2>Interest rate locks</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right></TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>Interest expense</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>(3</TD> <TD style="FONT-FAMILY: times">)</TD> <TD style="FONT-FAMILY: times" align=right>Interest expense</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right></TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" colSpan=2>Commodity futures</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>(1</TD> <TD style="FONT-FAMILY: times">)</TD> <TD style="FONT-FAMILY: times" align=right>Cost of goods sold</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>(16</TD> <TD style="FONT-FAMILY: times">)</TD> <TD style="FONT-FAMILY: times" align=right>Cost of goods sold</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right></TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR style="FONT-SIZE: 1.5pt" vAlign=top> <TD style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" colSpan=13> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times">Total</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  (114</TD> <TD style="FONT-FAMILY: times">)</TD> <TD style="FONT-FAMILY: times" align=right> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  (56</TD> <TD style="FONT-FAMILY: times">)</TD> <TD style="FONT-FAMILY: times" align=right> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR style="FONT-SIZE: 1.5pt" vAlign=top> <TD style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" colSpan=13> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times" colSpan=3>Net Investment Hedges</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" colSpan=2>Foreign currency contracts</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$      (1</TD> <TD style="FONT-FAMILY: times">)</TD> <TD style="FONT-FAMILY: times" align=right>Other income (loss)  net</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$   </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>Other income (loss)  net</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR style="FONT-SIZE: 1.5pt" vAlign=top> <TD style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" colSpan=13> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times">Total</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$      (1</TD> <TD style="FONT-FAMILY: times">)</TD> <TD style="FONT-FAMILY: times" align=right> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$   </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR style="FONT-SIZE: 1.5pt" vAlign=top> <TD style="BORDER-BOTTOM: #000000 2.25pt solid; FONT-FAMILY: times" colSpan=13> </TD> <TD style="FONT-FAMILY: times"> </TD></TR></TBODY></TABLE></DIV>         The following tables present the pretax impact that changes in the fair values of derivatives designated as hedging instruments had on AOCI and earnings during the six months ended July 3, 2009 (in millions):  <DIV align=center> <TABLE cellSpacing=0 cellPadding=0 width="100%" border=0> <TBODY> <TR> <TD style="FONT-FAMILY: times" width=8></TD> <TD style="FONT-FAMILY: times" width=8></TD> <TD style="FONT-FAMILY: times" width=75></TD> <TD style="FONT-FAMILY: times" width=12></TD> <TD style="FONT-FAMILY: times" width=40></TD> <TD style="FONT-FAMILY: times" width=13></TD> <TD style="FONT-FAMILY: times" width=89></TD> <TD style="FONT-FAMILY: times" width=12></TD> <TD style="FONT-FAMILY: times" width=63></TD> <TD style="FONT-FAMILY: times" width=13></TD> <TD style="FONT-FAMILY: times" width=89></TD> <TD style="FONT-FAMILY: times" width=12></TD> <TD style="FONT-FAMILY: times" width=68></TD> <TD style="FONT-FAMILY: times" width=3></TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times" colSpan=3> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" vAlign=bottom align=right>Gain (Loss) Recognized in OCI</TD> <TD style="FONT-FAMILY: times" vAlign=bottom> </TD> <TD style="FONT-FAMILY: times" vAlign=bottom align=right>Location of Gain (Loss) Reclassified from AOCI into Income (Effective Portion)</TD> <TD style="FONT-FAMILY: times" vAlign=bottom> </TD> <TD style="FONT-FAMILY: times" vAlign=bottom align=right>Gain (Loss) Reclassified from AOCI into Income (Effective Portion)</TD> <TD style="FONT-FAMILY: times" vAlign=bottom> </TD> <TD style="FONT-FAMILY: times" vAlign=bottom align=right>Location of Gain (Loss) Reclassified from AOCI into Income (Ineffective Portion)</TD> <TD style="FONT-FAMILY: times" vAlign=bottom> </TD> <TD style="FONT-FAMILY: times" vAlign=bottom align=right>Gain (Loss) Reclassified from AOCI into Income (Ineffective Portion)</TD> <TD style="FONT-FAMILY: times" vAlign=bottom> </TD></TR> <TR style="FONT-SIZE: 1.5pt" vAlign=top> <TD style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" colSpan=13> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times" colSpan=3>Cash Flow Hedges</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" colSpan=2>Foreign currency contracts</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$    </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>Net operating revenues</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$    (17</TD> <TD style="FONT-FAMILY: times">)</TD> <TD style="FONT-FAMILY: times" align=right>Net operating revenues</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$    </TD> <TD style="FONT-FAMILY: times">1</TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" colSpan=2>Interest rate locks</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right></TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>Interest expense</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>(4</TD> <TD style="FONT-FAMILY: times">)</TD> <TD style="FONT-FAMILY: times" align=right>Interest expense</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>(4</TD> <TD style="FONT-FAMILY: times">)</TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" colSpan=2>Commodity futures</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>(9</TD> <TD style="FONT-FAMILY: times">)</TD> <TD style="FONT-FAMILY: times" align=right>Cost of goods sold</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>(30</TD> <TD style="FONT-FAMILY: times">)</TD> <TD style="FONT-FAMILY: times" align=right>Cost of goods sold</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right></TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR style="FONT-SIZE: 1.5pt" vAlign=top> <TD style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" colSpan=13> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times">Total</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$    (9</TD> <TD style="FONT-FAMILY: times">)</TD> <TD style="FONT-FAMILY: times" align=right> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$    (51</TD> <TD style="FONT-FAMILY: times">)</TD> <TD style="FONT-FAMILY: times" align=right> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$     (4</TD> <TD style="FONT-FAMILY: times">)</TD></TR> <TR style="FONT-SIZE: 1.5pt" vAlign=top> <TD style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" colSpan=13> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times" colSpan=3>Net Investment Hedges</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" colSpan=2>Foreign currency contracts</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$    (1</TD> <TD style="FONT-FAMILY: times">)</TD> <TD style="FONT-FAMILY: times" align=right>Other income (loss)  net</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$     </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>Other income (loss)  net</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$    </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR style="FONT-SIZE: 1.5pt" vAlign=top> <TD style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" colSpan=13> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times">Total</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$    (1</TD> <TD style="FONT-FAMILY: times">)</TD> <TD style="FONT-FAMILY: times" align=right> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$     </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$    </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR style="FONT-SIZE: 1.5pt" vAlign=top> <TD style="BORDER-BOTTOM: #000000 2.25pt solid; FONT-FAMILY: times" colSpan=13> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times" colSpan=13> 1 Includes a de minimus amount of ineffectiveness in the hedging relationship.</TD> <TD style="FONT-FAMILY: times">  </TD></TR></TBODY></TABLE></DIV>         As of July 3, 2009, the Company estimates that it will reclassify into earnings during the next 12 months losses of approximately $51 million from the pretax amount recorded in AOCI as the anticipated cash flows occur. <A name=page_xx12201_1_22></A>         The following table presents the pretax impact that changes in the fair values of derivatives not designated as hedging instruments had on earnings during the three and six months ended July 3, 2009 (in millions):  <DIV align=center> <TABLE cellSpacing=0 cellPadding=0 width="100%" border=0> <TBODY> <TR> <TD style="FONT-FAMILY: times" width=8></TD> <TD style="FONT-FAMILY: times" width=8></TD> <TD style="FONT-FAMILY: times" width=144></TD> <TD style="FONT-FAMILY: times" width=12></TD> <TD style="FONT-FAMILY: times" width=158></TD> <TD style="FONT-FAMILY: times" width=12></TD> <TD style="FONT-FAMILY: times" width=72></TD> <TD style="FONT-FAMILY: times" width=13></TD> <TD style="FONT-FAMILY: times" width=62></TD> <TD style="FONT-FAMILY: times" width=3></TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times" colSpan=3> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" align=middle colSpan=3>Gain (Loss) Recognized in Income  </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times" colSpan=3> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" vAlign=bottom align=right>Location of Gain (Loss) Recognized in Income</TD> <TD style="FONT-FAMILY: times" vAlign=bottom> </TD> <TD style="FONT-FAMILY: times" vAlign=bottom align=right>Three Months Ended July 3, 2009</TD> <TD style="FONT-FAMILY: times" vAlign=bottom> </TD> <TD style="FONT-FAMILY: times" vAlign=bottom align=right>Six Months Ended July 3, 2009</TD> <TD style="FONT-FAMILY: times" vAlign=bottom> </TD></TR> <TR style="FONT-SIZE: 1.5pt" vAlign=top> <TD style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" colSpan=9> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times" colSpan=3>Foreign currency contracts</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>Net operating revenues</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$      (3</TD> <TD style="FONT-FAMILY: times">)</TD> <TD style="FONT-FAMILY: times" align=right>$    (2</TD> <TD style="FONT-FAMILY: times">)</TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times" colSpan=3>Foreign currency contracts</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>Other income (loss)  net</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>101</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>68</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times" colSpan=3>Commodity futures</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>Cost of goods sold</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>4</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>5</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times" colSpan=3>Other derivative instruments</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>Selling, general and administrative expenses</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>12</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>4</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR style="FONT-SIZE: 1.5pt" vAlign=top> <TD style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" colSpan=9> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times">Total</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$   114</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$   75</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR style="FONT-SIZE: 1.5pt" vAlign=top> <TD style="BORDER-BOTTOM: #000000 2.25pt solid; FONT-FAMILY: times" colSpan=9> </TD> <TD style="FONT-FAMILY: times"> </TD></TR></TBODY></TABLE></DIV></BODY></HTML>

<!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> <HTML><HEAD> <META http-equiv=Content-Type content="text/html; charset=utf-8"> <META content="MSHTML 6.00.2900.3492" name=GENERATOR></HEAD> <BODY> Note O Operating Segments         Information about our Company's operations as of and for the three months ended July 3, 2009, and June 27, 2008, by operating segment, is as follows (in millions):  <DIV align=center> <TABLE cellSpacing=0 cellPadding=0 border=0> <TBODY> <TR> <TD style="FONT-FAMILY: times" width=7></TD> <TD style="FONT-FAMILY: times" width=82></TD> <TD style="FONT-FAMILY: times" width=4></TD> <TD style="FONT-FAMILY: times" width=33></TD> <TD style="FONT-FAMILY: times" width=4></TD> <TD style="FONT-FAMILY: times" width=28></TD> <TD style="FONT-FAMILY: times" width=4></TD> <TD style="FONT-FAMILY: times" width=32></TD> <TD style="FONT-FAMILY: times" width=4></TD> <TD style="FONT-FAMILY: times" width=32></TD> <TD style="FONT-FAMILY: times" width=4></TD> <TD style="FONT-FAMILY: times" width=27></TD> <TD style="FONT-FAMILY: times" width=4></TD> <TD style="FONT-FAMILY: times" width=48></TD> <TD style="FONT-FAMILY: times" width=4></TD> <TD style="FONT-FAMILY: times" width=42></TD> <TD style="FONT-FAMILY: times" width=4></TD> <TD style="FONT-FAMILY: times" width=50></TD> <TD style="FONT-FAMILY: times" width=4></TD> <TD style="FONT-FAMILY: times" width=53></TD> <TD style="FONT-FAMILY: times" width=3></TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times" colSpan=2> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" vAlign=bottom align=right>Eurasia & Africa</TD> <TD style="FONT-FAMILY: times" vAlign=bottom> </TD> <TD style="FONT-FAMILY: times" vAlign=bottom align=right>Europe</TD> <TD style="FONT-FAMILY: times" vAlign=bottom> </TD> <TD style="FONT-FAMILY: times" vAlign=bottom align=right>Latin America</TD> <TD style="FONT-FAMILY: times" vAlign=bottom> </TD> <TD style="FONT-FAMILY: times" vAlign=bottom align=right>North America</TD> <TD style="FONT-FAMILY: times" vAlign=bottom> </TD> <TD style="FONT-FAMILY: times" vAlign=bottom align=right>Pacific</TD> <TD style="FONT-FAMILY: times" vAlign=bottom> </TD> <TD style="FONT-FAMILY: times" vAlign=bottom align=right>Bottling Investments</TD> <TD style="FONT-FAMILY: times" vAlign=bottom> </TD> <TD style="FONT-FAMILY: times" vAlign=bottom align=right>Corporate</TD> <TD style="FONT-FAMILY: times" vAlign=bottom> </TD> <TD style="FONT-FAMILY: times" vAlign=bottom align=right>Eliminations</TD> <TD style="FONT-FAMILY: times" vAlign=bottom> </TD> <TD style="FONT-FAMILY: times" vAlign=bottom align=right>Consolidated</TD> <TD style="FONT-FAMILY: times" vAlign=bottom> </TD></TR> <TR style="FONT-SIZE: 1.5pt" vAlign=top> <TD style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" colSpan=20> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=2> 2009</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=2> Net operating revenues:</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> Third party</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$    546</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  1,211</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$     861</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$    2,173</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  1,235</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  2,206</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$      35</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$      </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$    8,267</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> Intersegment</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>69</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>242</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>37</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>37</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>87</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>36</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right></TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>(508</TD> <TD style="FONT-FAMILY: times">)</TD> <TD style="FONT-FAMILY: times" align=right></TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> Total net revenues</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>615</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>1,453</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>898</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>2,210</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>1,322</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>2,242</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>35</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>(508</TD> <TD style="FONT-FAMILY: times">)</TD> <TD style="FONT-FAMILY: times" align=right>8,267</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=2> Operating income (loss)</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>243</TD> <TD style="FONT-FAMILY: times">1</TD> <TD style="FONT-FAMILY: times" align=right>861</TD> <TD style="FONT-FAMILY: times">1</TD> <TD style="FONT-FAMILY: times" align=right>472</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>455</TD> <TD style="FONT-FAMILY: times">1</TD> <TD style="FONT-FAMILY: times" align=right>594</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>122</TD> <TD style="FONT-FAMILY: times">1</TD> <TD style="FONT-FAMILY: times" align=right>(309</TD> <TD style="FONT-FAMILY: times">)1</TD> <TD style="FONT-FAMILY: times" align=right></TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>2,438</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=2> Income (loss) before income taxes</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>253</TD> <TD style="FONT-FAMILY: times">1</TD> <TD style="FONT-FAMILY: times" align=right>880</TD> <TD style="FONT-FAMILY: times">1</TD> <TD style="FONT-FAMILY: times" align=right>470</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>461</TD> <TD style="FONT-FAMILY: times">1</TD> <TD style="FONT-FAMILY: times" align=right>587</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>420</TD> <TD style="FONT-FAMILY: times">1,2</TD> <TD style="FONT-FAMILY: times" align=right>(343</TD> <TD style="FONT-FAMILY: times">)1</TD> <TD style="FONT-FAMILY: times" align=right></TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>2,728</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=2> Identifiable operating assets</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>1,083</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>2,913</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>2,045</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>11,517</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>1,596</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>8,662</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>11,946</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right></TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>39,762</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=2> Investments</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>330</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>228</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>226</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>2</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>74</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>5,368</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>64</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right></TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>6,292</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR style="FONT-SIZE: 1.5pt" vAlign=top> <TD style="BORDER-BOTTOM: #000000 2.25pt solid; FONT-FAMILY: times" colSpan=20> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=2> 2008</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=2> Net operating revenues:</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> Third party</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$    601</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  1,444</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$     897</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$    2,240</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  1,227</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  2,608</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$      29</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$      </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$    9,046</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> Intersegment</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>66</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>299</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>63</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>16</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>97</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>93</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right></TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>(634</TD> <TD style="FONT-FAMILY: times">)</TD> <TD style="FONT-FAMILY: times" align=right></TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> Total net revenues</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>667</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>1,743</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>960</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>2,256</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>1,324</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>2,701</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>29</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>(634</TD> <TD style="FONT-FAMILY: times">)</TD> <TD style="FONT-FAMILY: times" align=right>9,046</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=2> Operating income (loss)</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>269</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>1,016</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>531</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>457</TD> <TD style="FONT-FAMILY: times">3</TD> <TD style="FONT-FAMILY: times" align=right>604</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>156</TD> <TD style="FONT-FAMILY: times">3</TD> <TD style="FONT-FAMILY: times" align=right>(354</TD> <TD style="FONT-FAMILY: times">)3</TD> <TD style="FONT-FAMILY: times" align=right></TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>2,679</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=2> Income (loss) before income taxes</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>274</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>1,027</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>537</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>460</TD> <TD style="FONT-FAMILY: times">3</TD> <TD style="FONT-FAMILY: times" align=right>599</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>(694</TD> <TD style="FONT-FAMILY: times">)3,4,5</TD> <TD style="FONT-FAMILY: times" align=right>(286</TD> <TD style="FONT-FAMILY: times">)3,5</TD> <TD style="FONT-FAMILY: times" align=right></TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>1,917</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=2> Identifiable operating assets</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>1,056</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>3,568</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>2,040</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>11,300</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>1,547</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>9,513</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>11,340</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right></TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>40,364</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=2> Investments</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>434</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>174</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>262</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>16</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>72</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>6,347</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>62</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right></TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>7,367</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR style="FONT-SIZE: 1.5pt" vAlign=top> <TD style="BORDER-BOTTOM: #000000 2.25pt solid; FONT-FAMILY: times" colSpan=20> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=2> As of December 31, 2008</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=2> Identifiable operating assets</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$    956</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  3,012</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  1,849</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  10,845</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  1,444</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  7,935</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  8,699</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$      </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  34,740</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=2> Investments</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>395</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>179</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>199</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>4</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>72</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>4,873</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>57</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right></TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>5,779</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR style="FONT-SIZE: 1.5pt" vAlign=top> <TD style="BORDER-BOTTOM: #000000 2.25pt solid; FONT-FAMILY: times" colSpan=20> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=20>        Certain prior year amounts have been reclassified to conform to the current year presentation.</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=20> 1 Operating income (loss) and income (loss) before income taxes for the three months ended July 3, 2009, were reduced by approximately $3 million for Eurasia and Africa, $1 million for Europe, $8 million for North America, $26 million for Bottling Investments and $34 million for Corporate, primarily as a result of restructuring costs, an asset impairment and productivity initiatives.</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=20> 2 Income (loss) before income taxes for the three months ended July 3, 2009, was reduced by approximately $10 million for Bottling Investments, primarily attributable to our proportionate share of restructuring costs recorded by certain of our equity method investees.</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=20> 3 Operating income (loss) and income (loss) before income taxes for the three months ended June 27, 2008, were reduced by approximately $4 million for North America, $9 million for Bottling Investments and $97 million for Corporate, primarily attributable to restructuring costs, contract termination fees, asset impairments and productivity initiatives.</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=20> 4 Income (loss) before income taxes for the three months ended June 27, 2008, was reduced by approximately $1.1 billion for Bottling Investments, primarily as a result of our proportionate share of an impairment charge recorded by CCE.</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=20> 5 Income (loss) before income taxes for the three months ended June 27, 2008, was increased by approximately $102 million for Bottling Investments and Corporate, primarily due to the gain on the sale of Remil to Coca-Cola FEMSA.</TD> <TD style="FONT-FAMILY: times"> </TD></TR></TBODY></TABLE></DIV> <A name=page_xx12201_1_32></A>         Information about our Company's operations as of and for the six months ended July 3, 2009, and June 27, 2008, by operating segment, is as follows (in millions):  <DIV align=center> <TABLE cellSpacing=0 cellPadding=0 border=0> <TBODY> <TR> <TD style="FONT-FAMILY: times" width=7></TD> <TD style="FONT-FAMILY: times" width=82></TD> <TD style="FONT-FAMILY: times" width=4></TD> <TD style="FONT-FAMILY: times" width=33></TD> <TD style="FONT-FAMILY: times" width=4></TD> <TD style="FONT-FAMILY: times" width=28></TD> <TD style="FONT-FAMILY: times" width=4></TD> <TD style="FONT-FAMILY: times" width=32></TD> <TD style="FONT-FAMILY: times" width=4></TD> <TD style="FONT-FAMILY: times" width=32></TD> <TD style="FONT-FAMILY: times" width=4></TD> <TD style="FONT-FAMILY: times" width=27></TD> <TD style="FONT-FAMILY: times" width=4></TD> <TD style="FONT-FAMILY: times" width=48></TD> <TD style="FONT-FAMILY: times" width=4></TD> <TD style="FONT-FAMILY: times" width=42></TD> <TD style="FONT-FAMILY: times" width=4></TD> <TD style="FONT-FAMILY: times" width=50></TD> <TD style="FONT-FAMILY: times" width=4></TD> <TD style="FONT-FAMILY: times" width=53></TD> <TD style="FONT-FAMILY: times" width=3></TD></TR> <TR vAlign=top> <TD style="FONT-FAMILY: times" colSpan=2> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" vAlign=bottom align=right>Eurasia & Africa</TD> <TD style="FONT-FAMILY: times" vAlign=bottom> </TD> <TD style="FONT-FAMILY: times" vAlign=bottom align=right>Europe</TD> <TD style="FONT-FAMILY: times" vAlign=bottom> </TD> <TD style="FONT-FAMILY: times" vAlign=bottom align=right>Latin America</TD> <TD style="FONT-FAMILY: times" vAlign=bottom> </TD> <TD style="FONT-FAMILY: times" vAlign=bottom align=right>North America</TD> <TD style="FONT-FAMILY: times" vAlign=bottom> </TD> <TD style="FONT-FAMILY: times" vAlign=bottom align=right>Pacific</TD> <TD style="FONT-FAMILY: times" vAlign=bottom> </TD> <TD style="FONT-FAMILY: times" vAlign=bottom align=right>Bottling Investments</TD> <TD style="FONT-FAMILY: times" vAlign=bottom> </TD> <TD style="FONT-FAMILY: times" vAlign=bottom align=right>Corporate</TD> <TD style="FONT-FAMILY: times" vAlign=bottom> </TD> <TD style="FONT-FAMILY: times" vAlign=bottom align=right>Eliminations</TD> <TD style="FONT-FAMILY: times" vAlign=bottom> </TD> <TD style="FONT-FAMILY: times" vAlign=bottom align=right>Consolidated</TD> <TD style="FONT-FAMILY: times" vAlign=bottom> </TD></TR> <TR style="FONT-SIZE: 1.5pt" vAlign=top> <TD style="BORDER-BOTTOM: #000000 1pt solid; FONT-FAMILY: times" colSpan=20> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=2> 2009</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=2> Net operating revenues:</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> Third party</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  1,004</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  2,191</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  1,689</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  4,217</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  2,281</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  4,002</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$      52</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$         </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  15,436</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> Intersegment</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>114</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>442</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>69</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>49</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>181</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>62</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right></TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>(917</TD> <TD style="FONT-FAMILY: times">)</TD> <TD style="FONT-FAMILY: times" align=right></TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> Total net revenues</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>1,118</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>2,633</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>1,758</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>4,266</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>2,462</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>4,064</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>52</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>(917</TD> <TD style="FONT-FAMILY: times">)</TD> <TD style="FONT-FAMILY: times" align=right>15,436</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=2> Operating income (loss)</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>450</TD> <TD style="FONT-FAMILY: times">1</TD> <TD style="FONT-FAMILY: times" align=right>1,553</TD> <TD style="FONT-FAMILY: times">1</TD> <TD style="FONT-FAMILY: times" align=right>926</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>883</TD> <TD style="FONT-FAMILY: times">1</TD> <TD style="FONT-FAMILY: times" align=right>1,050</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>53</TD> <TD style="FONT-FAMILY: times">1</TD> <TD style="FONT-FAMILY: times" align=right>(614</TD> <TD style="FONT-FAMILY: times">)1</TD> <TD style="FONT-FAMILY: times" align=right></TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>4,301</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=2> Income (loss) before income taxes</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>455</TD> <TD style="FONT-FAMILY: times">1</TD> <TD style="FONT-FAMILY: times" align=right>1,577</TD> <TD style="FONT-FAMILY: times">1</TD> <TD style="FONT-FAMILY: times" align=right>927</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>887</TD> <TD style="FONT-FAMILY: times">1</TD> <TD style="FONT-FAMILY: times" align=right>1,040</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>377</TD> <TD style="FONT-FAMILY: times">1,2</TD> <TD style="FONT-FAMILY: times" align=right>(720</TD> <TD style="FONT-FAMILY: times">)1,2,3</TD> <TD style="FONT-FAMILY: times" align=right></TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>4,543</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR style="FONT-SIZE: 1.5pt" vAlign=top> <TD style="BORDER-BOTTOM: #000000 2.25pt solid; FONT-FAMILY: times" colSpan=20> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=2> 2008</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=2> Net operating revenues:</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> Third party</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  1,121</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  2,567</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  1,741</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  4,124</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  2,140</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  4,675</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$      57</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$         </TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>$  16,425</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> Intersegment</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>107</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>530</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>120</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>30</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>188</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>115</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right></TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>(1,090</TD> <TD style="FONT-FAMILY: times">)</TD> <TD style="FONT-FAMILY: times" align=right></TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times"> Total net revenues</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>1,228</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>3,097</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>1,861</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>4,154</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>2,328</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>4,790</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>57</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>(1,090</TD> <TD style="FONT-FAMILY: times">)</TD> <TD style="FONT-FAMILY: times" align=right>16,425</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=2> Operating income (loss)</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>496</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>1,751</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>1,037</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>781</TD> <TD style="FONT-FAMILY: times">4</TD> <TD style="FONT-FAMILY: times" align=right>992</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>173</TD> <TD style="FONT-FAMILY: times">4</TD> <TD style="FONT-FAMILY: times" align=right>(677</TD> <TD style="FONT-FAMILY: times">)4</TD> <TD style="FONT-FAMILY: times" align=right></TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>4,553</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=2> Income (loss) before income taxes</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>501</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>1,769</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>1,044</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>785</TD> <TD style="FONT-FAMILY: times">4</TD> <TD style="FONT-FAMILY: times" align=right>983</TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>(535</TD> <TD style="FONT-FAMILY: times">)4,5,6</TD> <TD style="FONT-FAMILY: times" align=right>(671</TD> <TD style="FONT-FAMILY: times">)4,6</TD> <TD style="FONT-FAMILY: times" align=right></TD> <TD style="FONT-FAMILY: times"> </TD> <TD style="FONT-FAMILY: times" align=right>3,876</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR style="FONT-SIZE: 1.5pt" vAlign=top> <TD style="BORDER-BOTTOM: #000000 2.25pt solid; FONT-FAMILY: times" colSpan=20> </TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=20>        Certain prior year amounts have been reclassified to conform to the current year presentation.</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=20> 1 Operating income (loss) and income (loss) before income taxes for the six months ended July 3, 2009, were reduced by approximately $3 million for Eurasia and Africa, $1 million for Europe, $13 million for North America, $91 million for Bottling Investments and $56 million for Corporate, primarily as a result of restructuring costs, asset impairments and productivity initiatives.</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=20> 2 Income (loss) before income taxes for the six months ended July 3, 2009, was reduced by approximately $61 million for Bottling Investments and $1 million for Corporate, primarily attributable to our proportionate share of asset impairment charges and restructuring costs recorded by certain of our equity method investees.</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=20> 3 Income (loss) before income taxes for the six months ended July 3, 2009, was reduced by approximately $27 million for Corporate due to an other-than-temporary impairment of a cost method investment.</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=20> 4 Operating income (loss) and income (loss) before income taxes for the six months ended June 27, 2008, were reduced by approximately $6 million for North America, $13 million for Bottling Investments and $176 million for Corporate, primarily attributable to restructuring costs, contract termination fees, asset impairments and productivity initiatives.</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=20> 5 Income (loss) before income taxes for the six months ended June 27, 2008, was reduced by approximately $1.1 billion for Bottling Investments, primarily as a result of our proportionate share of an impairment charge recorded by CCE.</TD> <TD style="FONT-FAMILY: times"> </TD></TR> <TR vAlign=bottom> <TD style="FONT-FAMILY: times" colSpan=20> 6 Income (loss) before income taxes for the six months ended June 27, 2008, was increased by approximately $102 million for Bottling Investments and Corporate, primarily due to the gain on the sale of Remil to Coca-Cola FEMSA.</TD> <TD style="FONT-FAMILY: times"> </TD></TR></TBODY></TABLE></DIV></BODY></HTML>

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310000000

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Basic net income per share and diluted net income per share are calculated based on net income attributable to shareowners of The Coca-Cola Company.