EX-99.1 2 a08-22675_1ex99d1.htm SCHEDULE OF RECLASSIFIED OPERATING SEGMENT DATA

Exhibit 99.1

 

The Coca-Cola Company and Subsidiaries

Reclassified Operating Segment Data

Unaudited

 

Unit Case Volume Growth Rate Based on Average Daily Sales (1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

% of Unit 
Case Volume

 

 

 

Q1 06

 

Q2 06

 

Q3 06

 

Q4 06

 

FY 06

 

Q1 07

 

Q2 07

 

Q3 07

 

Q4 07

 

FY 07

 

Q1 08

 

Q2 08

 

FY 06

 

FY 07

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Eurasia & Africa

 

5

%

8

%

10

%

9

%

8

%

15

%

11

%

13

%

10

%

12

%

5

%

6

%

14

%

15

%

Europe

 

3

 

4

 

11

 

8

 

7

 

12

 

7

 

 

3

 

5

 

4

 

 

17

 

17

 

Latin America

 

7

 

7

 

7

 

7

 

7

 

7

 

9

 

9

 

10

 

9

 

9

 

7

 

26

 

27

 

North America

 

2

 

2

 

(1

)

(2

)

 

(3

)

(2

)

1

 

1

 

(1

)

 

 

27

 

25

 

Pacific

 

7

 

(2

)

1

 

 

1

 

5

 

9

 

11

 

3

 

7

 

10

 

4

 

16

 

16

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Worldwide

 

5

 

4

 

5

 

4

 

4

 

6

 

6

 

6

 

5

 

6

 

6

 

3

 

100

 

100

 

 

Concentrate Sales Volume Growth Rate (2)

 

 

 

Q1 06

 

Q2 06

 

Q3 06

 

Q4 06

 

FY 06

 

Q1 07

 

Q2 07

 

Q3 07

 

Q4 07

 

FY 07

 

Q1 08

 

Q2 08

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Eurasia & Africa

 

5

%

10

%

9

%

1

%

6

%

16

%

12

%

10

%

12

%

12

%

11

%

10

%

Europe

 

 

7

 

12

 

3

 

6

 

15

 

5

 

(1

)

 

5

 

2

 

(1

)

Latin America

 

5

 

7

 

8

 

10

 

7

 

10

 

9

 

12

 

6

 

9

 

5

 

5

 

North America

 

3

 

4

 

(2

)

(4

)

 

(5

)

(1

)

2

 

4

 

 

2

 

(3

)

Pacific

 

7

 

(4

)

1

 

2

 

1

 

2

 

14

 

13

 

(1

)

7

 

8

 

3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Worldwide

 

4

 

4

 

5

 

1

 

4

 

6

 

7

 

6

 

6

 

6

 

5

 

3

 

 

The Reclassified Operating Segment Data reflect changes in the Company’s operating structure which became effective July 1, 2008.

 

For additional information about our sales volume, refer to page 42 of our 2007 Annual Report on Form 10-K filed on February 28, 2008.

 


(1) Unit case volume percentage change is based on average daily sales. Unit case volume growth based on average daily sales is computed by comparing the average daily sales in each of the corresponding periods. Average daily sales for each quarter are the unit cases sold during the quarter divided by the number of days in the quarter.

 

 (2) Unit case volume and concentrate sales volume growth rates are not necessarily equal during any given period. Items such as seasonality, bottlers’ inventory practices, supply point changes, timing of price increases, new product introductions and changes in product mix can impact unit case volume and concentrate sales volume and can create differences between unit case volume and concentrate sales volume growth rates.

 



 

The Coca-Cola Company and Subsidiaries

Reclassified Operating Segment Data (1)

Unaudited

In Millions

 

 

 

Q1 06

 

Q2 06

 

Q3 06

 

Q4 06

 

FY 06

 

Q1 07

 

Q2 07

 

Q3 07

 

Q4 07

 

FY 07

 

Q1 08

 

Q2 08

 

Net Operating Revenues – Third Party

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Eurasia & Africa

 

$

387

 

$

448

 

$

412

 

$

433

 

$

1,680

 

$

432

 

$

505

 

$

459

 

$

545

 

$

1,941

 

$

520

 

$

601

 

Europe

 

762

 

1,137

 

1,089

 

886

 

3,874

 

985

 

1,325

 

1,153

 

984

 

4,447

 

1,123

 

1,444

 

Latin America

 

572

 

593

 

624

 

695

 

2,484

 

681

 

757

 

791

 

840

 

3,069

 

844

 

897

 

North America

 

1,645

 

1,909

 

1,809

 

1,650

 

7,013

 

1,665

 

2,062

 

2,160

 

1,874

 

7,761

 

1,884

 

2,240

 

Pacific

 

869

 

1,065

 

1,108

 

948

 

3,990

 

889

 

1,035

 

1,094

 

979

 

3,997

 

913

 

1,227

 

Bottling Investments

 

971

 

1,302

 

1,388

 

1,293

 

4,954

 

1,437

 

2,031

 

2,016

 

2,086

 

7,570

 

2,067

 

2,608

 

Corporate

 

20

 

22

 

24

 

27

 

93

 

14

 

18

 

17

 

23

 

72

 

28

 

29

 

 

 

$

5,226

 

$

6,476

 

$

6,454

 

$

5,932

 

$

24,088

 

$

6,103

 

$

7,733

 

$

7,690

 

$

7,331

 

$

28,857

 

$

7,379

 

$

9,046

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Operating Revenues – Intersegment

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Eurasia & Africa

 

$

25

 

$

40

 

$

35

 

$

24

 

$

124

 

$

34

 

$

55

 

$

45

 

$

34

 

$

168

 

$

41

 

$

66

 

Europe

 

150

 

190

 

203

 

160

 

703

 

168

 

216

 

231

 

230

 

845

 

231

 

299

 

Latin America

 

31

 

29

 

30

 

42

 

132

 

38

 

22

 

44

 

71

 

175

 

57

 

63

 

North America

 

 

 

 

16

 

16

 

16

 

21

 

26

 

12

 

75

 

14

 

16

 

Pacific

 

17

 

14

 

26

 

71

 

128

 

50

 

135

 

112

 

112

 

409

 

91

 

97

 

Bottling Investments

 

12

 

27

 

35

 

15

 

89

 

20

 

45

 

42

 

18

 

125

 

22

 

93

 

 

 

$

235

 

$

300

 

$

329

 

$

328

 

$

1,192

 

$

326

 

$

494

 

$

500

 

$

477

 

$

1,797

 

$

456

 

$

634

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Operating Revenues – Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Eurasia & Africa

 

$

412

 

$

488

 

$

447

 

$

457

 

$

1,804

 

$

466

 

$

560

 

$

504

 

$

579

 

$

2,109

 

$

561

 

$

667

 

Europe

 

912

 

1,327

 

1,292

 

1,046

 

4,577

 

1,153

 

1,541

 

1,384

 

1,214

 

5,292

 

1,354

 

1,743

 

Latin America

 

603

 

622

 

654

 

737

 

2,616

 

719

 

779

 

835

 

911

 

3,244

 

901

 

960

 

North America

 

1,645

 

1,909

 

1,809

 

1,666

 

7,029

 

1,681

 

2,083

 

2,186

 

1,886

 

7,836

 

1,898

 

2,256

 

Pacific

 

886

 

1,079

 

1,134

 

1,019

 

4,118

 

939

 

1,170

 

1,206

 

1,091

 

4,406

 

1,004

 

1,324

 

Bottling Investments

 

983

 

1,329

 

1,423

 

1,308

 

5,043

 

1,457

 

2,076

 

2,058

 

2,104

 

7,695

 

2,089

 

2,701

 

Corporate

 

20

 

22

 

24

 

27

 

93

 

14

 

18

 

17

 

23

 

72

 

28

 

29

 

Eliminations

 

(235

)

(300

)

(329

)

(328

)

(1,192

)

(326

)

(494

)

(500

)

(477

)

(1,797

)

(456

)

(634

)

 

 

$

5,226

 

$

6,476

 

$

6,454

 

$

5,932

 

$

24,088

 

$

6,103

 

$

7,733

 

$

7,690

 

$

7,331

 

$

28,857

 

$

7,379

 

$

9,046

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating Income (Loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Eurasia & Africa

 

$

148

 

$

178

 

$

114

 

$

152

 

$

592

 

$

160

 

$

185

 

$

134

 

$

188

 

$

667

 

$

227

 

$

269

 

Europe

 

474

 

722

 

664

 

501

 

2,361

 

643

 

885

 

698

 

549

 

2,775

 

735

 

1,016

 

Latin America

 

349

 

346

 

353

 

390

 

1,438

 

415

 

413

 

430

 

491

 

1,749

 

506

 

531

 

North America

 

388

 

493

 

383

 

419

 

1,683

 

347

 

500

 

447

 

402

 

1,696

 

324

 

457

 

Pacific

 

363

 

492

 

421

 

374

 

1,650

 

372

 

506

 

428

 

393

 

1,699

 

388

 

604

 

Bottling Investments

 

(57

)

87

 

47

 

(59

)

18

 

(2

)

75

 

58

 

22

 

153

 

17

 

156

 

Corporate

 

(270

)

(279

)

(320

)

(565

)

(1,434

)

(308

)

(294

)

(366

)

(519

)

(1,487

)

(323

)

(354

)

 

 

$

1,395

 

$

2,039

 

$

1,662

 

$

1,212

 

$

6,308

 

$

1,627

 

$

2,270

 

$

1,829

 

$

1,526

 

$

7,252

 

$

1,874

 

$

2,679

 

 



 

Income (Loss) Before Income Taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Eurasia & Africa

 

$

155

 

$

184

 

$

117

 

$

163

 

$

619

 

$

161

 

$

195

 

$

144

 

$

196

 

$

696

 

$

223

 

$

271

 

Europe

 

480

 

728

 

664

 

508

 

2,380

 

651

 

892

 

708

 

545

 

2,796

 

742

 

1,027

 

Latin America

 

349

 

345

 

350

 

389

 

1,433

 

415

 

412

 

430

 

495

 

1,752

 

504

 

534

 

North America

 

389

 

495

 

386

 

420

 

1,690

 

348

 

498

 

452

 

402

 

1,700

 

325

 

462

 

Pacific

 

363

 

485

 

417

 

368

 

1,633

 

367

 

497

 

424

 

377

 

1,665

 

383

 

597

 

Bottling Investments

 

18

 

330

 

253

 

(534

)

67

 

7

 

247

 

308

 

199

 

761

 

155

 

(711

)

Corporate

 

(279

)

(176

)

(361

)

(428

)

(1,244

)

(220

)

(333

)

(353

)

(591

)

(1,497

)

(384

)

(284

)

 

 

$

1,475

 

$

2,391

 

$

1,826

 

$

886

 

$

6,578

 

$

1,729

 

$

2,408

 

$

2,113

 

$

1,623

 

$

7,873

 

$

1,948

 

$

1,896

 

 

The Reclassified Operating Segment Data reflect changes in the Company’s operating structure which became effective July 1, 2008. Additionally, certain other prior year amounts have been reclassified to conform to the current year presentation.

 


 (1) Refer to the Items Impacting Comparability Schedule which follows for additional information.

 



 

The Coca-Cola Company and Subsidiaries

Reclassified Operating Segment Data

Items Impacting Comparability Schedule

Unaudited

 

2006

 

In the first quarter of 2006, the Company recorded the following transactions which impacted results:

 

·      An approximate $42 million charge for Bottling Investments primarily related to the impairment of certain assets and investments. 

 

·      An approximate $3 million charge for Pacific primarily related to restructuring costs.

 

·      A charge of approximately $9 million for Bottling Investments related to our proportionate share of restructuring costs recorded by Coca-Cola Enterprises Inc. (“CCE”).

 

In the second quarter of 2006, the Company recorded the following transactions which impacted results:

 

·      A net gain of approximately $123 million for Corporate related to the sale of a portion of our investment in Coca-Cola Icecek in an initial public offering.

 

·      Charges of approximately $27 million for Europe, $2 million for Pacific and $2 million for Bottling Investments primarily related to costs associated with production capacity efficiencies and other restructuring costs.

 

·      An approximate $21 million benefit for Bottling Investments for our proportionate share of favorable changes in certain of CCE's state and Canadian federal and provincial tax rates.

 

In the third quarter of 2006, the Company recorded the following transactions which impacted results:

 

·      Charges of approximately $1 million for Eurasia and Africa, $7 million for Europe, $15 million for Pacific and $16 million for Bottling Investments primarily related to the impairment of certain intangible assets and investments in certain bottling operations, and costs to rationalize production and other restructuring costs.

 

·      A charge of approximately $3 million for Bottling Investments related to our proportionate share of items impacting equity method investees.

 

In the fourth quarter of 2006, the Company recorded the following transactions which impacted results:

 

·      A charge of approximately $615 million for Bottling Investments related to our proportionate share of CCE’s impairment charges and restructuring charges recorded by other equity method investees, partially offset by our proportionate share of changes in certain of CCE’s state and Canadian federal and provincial tax rates. 

 

·      Charges of approximately $2 million for Eurasia and Africa, $2 million for Europe, $42 million for Pacific, $27 million for Bottling Investments and $1 million for Corporate primarily related to restructuring costs and asset impairments.

 

·      A charge of $100 million for Corporate related to a donation made to The Coca-Cola Foundation.

 

·      A net gain of approximately $175 million for Corporate related to the sale of Coca-Cola FEMSA, S.A.B. de C.V. shares (“Coca-Cola FEMSA”).

 



 

2007

 

In the first quarter of 2007, the Company recorded the following transactions which impacted results:

 

·      An approximate $67 million charge for Bottling Investments for our proportionate share of an asset write-down related to excess and obsolete bottles and cases at Coca-Cola Bottlers Philippines, Inc.

 

·      A net gain of approximately $137 million for Corporate primarily due to the sale of real estate in Spain and the sale of our equity ownership in Vonpar Refrescos S.A.  

 

·      An approximate $6 million charge for Bottling Investments due to our proportionate share of CCE’s restructuring costs.

 

·      Charges of approximately $2 million for Eurasia and Africa, $6 million for Bottling Investments and $2 million for Corporate as a result of asset impairments and restructuring costs.

 

In the second quarter of 2007, the Company recorded the following transactions which impacted results:

 

·      Charges of approximately $18 million for Eurasia and Africa, $5 million for Europe, $2 million for Latin America, $1 million for Pacific and $23 million for Bottling Investments, primarily related to asset impairments and restructuring costs, partially offset by $1 million for Corporate.

 

·      A charge of approximately $89 million for Bottling Investments primarily due to our proportionate share of asset write-downs and restructuring charges recorded by equity method investees.

 

In the third quarter of 2007, the Company recorded the following transactions which impacted results:

 

·      Charges of approximately $15 million for Eurasia and Africa, $7 million for Europe, $1 million for Latin America, $13 million for North America, $14 million for Bottling Investments and $34 million for Corporate primarily due to restructuring costs and asset write-downs.

 

·      A net gain of approximately $73 million for Corporate on the sale of Coca-Cola Amatil Limited shares.

 

·      A net gain of approximately $21 million for Bottling Investments, primarily due to our proportionate share of tax benefits recorded by an equity method investee, which was partially offset by asset write-downs and restructuring costs recorded by equity method investees.

 

In the fourth quarter of 2007, the Company recorded the following transactions which impacted results:

 

·      Charges of approximately $2 million for Eurasia and Africa, $21 million for Europe, $1 million for Latin America, $10 million for North America, $2 million for Pacific, $4 million for Bottling Investments and $86 million for Corporate primarily due to asset write-downs and restructuring costs.

 

·      A net charge of approximately $9 million for Bottling Investments, primarily due to our proportionate share of asset write-downs and restructuring costs recorded by equity method investees, which was partially offset by tax benefits recorded by equity method investees.

 

·      A net gain of approximately $18 million for Corporate on the sale of real estate.

 

2008

 

In the first quarter of 2008, the Company recorded the following transactions which impacted results:

 

·      Charges of approximately $2 million for North America and $76 million for Corporate, primarily due to restructuring costs and asset write-downs.

 

·      A net gain of approximately $5 million for Bottling Investments related to our proportionate share of one-time adjustments recorded by equity method investees.

 



 

In the second quarter of 2008, the Company recorded the following transactions which impacted results:

 

·      Charges of approximately $4 million for North America, $5 million for Bottling Investments and $88 million for Corporate primarily due to restructuring costs, contract termination costs and asset write-downs.

 

·      A charge of approximately $1.1 billion for Bottling Investments primarily as a result of our proportionate share of an impairment charge recorded by CCE.

 

·      A net gain of approximately $102 million for Bottling Investments and Corporate primarily due to the sale of Refrigerantes Minas Gerais Ltda. to Coca-Cola FEMSA.