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Condensed Consolidated Statements of Operations (USD $)
In Millions, except Per Share data
3 Months Ended9 Months Ended
Sep. 30, 2011
Oct. 01, 2010
Sep. 30, 2011
Oct. 01, 2010
Condensed Consolidated Statements of Operations    
Net operating revenues$ 2,140$ 1,681$ 6,391[1]$ 4,920[1]
Cost of sales1,3321,0314,0283,073
Gross profit8086502,3631,847
Selling, delivery, and administrative expenses4784061,5101,171
Operating income330244853[2]676[2]
Interest expense, net - third party2366216
Interest expense, net - Coca-Cola Enterprises Inc.013033
Other nonoperating expense, net(1)(1)(4)(5)
Income before income taxes306224787622
Income tax expense221615195
Net income284208636527
Basic earnings per common share, (in dollars per share)$ 0.90$ 0.61$ 1.97$ 1.55
Diluted earnings per common share, (in dollars per share)$ 0.88 $ 1.92 
Dividends declared per common share (in dollars per share)$ 0.13 $ 0.38 
Basic weighted average common shares outstanding, (in shares)315[3],[4]339[3],[4]322[3],[4]339[3],[4]
Diluted weighted average common shares outstanding, (in shares)324 331 
Income (expense) from transactions with The Coca-Cola Company - Note 4:    
Net operating revenues651615
Cost of sales$ (532)$ (439)$ (1,731)$ (1,389)
[1](A) The following table summarizes the contribution of total net operating revenues by country as a percentage of total net operating revenues for the periods presented: First Nine Months 2011 2010Net operating revenues Great Britain33% 39%France29 32Belgium16 19The Netherlands9 10Norway7 n/aSweden6 n/aTotal100% 100%
[2](B) Our Corporate segment operating income includes net mark-to-market losses on our non-designated commodity hedges totaling $2 million for the first nine months of 2011, and net mark-to-market losses on our non-designated commodity hedges totaling $7 million for the first nine months of 2010. As of September 30, 2011, the amount of net mark-to-market gains included in our Corporate segment on non-designated commodity hedges was not significant. These amounts will be reclassified into the earnings of our Europe operating segment when the underlying hedged transactions occur. For additional information about our non-designated hedges, refer to Note 5.
[3](A) For the third quarter and first nine months of 2010, we did not have any common shares outstanding. As such, we have used 339,064,025 as our number of basic weighted average common shares outstanding for purposes of calculating our basic earnings per common share, which represents the number of our shares outstanding immediately following the
[4](B) At September 30, 2011, we were obligated to issue, for no additional consideration, 0.4 million common shares under deferred compensation plans and other agreements. These shares were included in our calculation of basic and diluted earnings per share for the third quarter and first nine months of 2011.