0001104659-12-046590.txt : 20120628 0001104659-12-046590.hdr.sgml : 20120628 20120628141100 ACCESSION NUMBER: 0001104659-12-046590 CONFORMED SUBMISSION TYPE: 11-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20111231 FILED AS OF DATE: 20120628 DATE AS OF CHANGE: 20120628 FILER: COMPANY DATA: COMPANY CONFORMED NAME: COCA COLA CO CENTRAL INDEX KEY: 0000021344 STANDARD INDUSTRIAL CLASSIFICATION: BEVERAGES [2080] IRS NUMBER: 580628465 STATE OF INCORPORATION: DE FISCAL YEAR END: 0417 FILING VALUES: FORM TYPE: 11-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-02217 FILM NUMBER: 12932130 BUSINESS ADDRESS: STREET 1: ONE COCA COLA PLAZA CITY: ATLANTA STATE: GA ZIP: 30313 BUSINESS PHONE: 404-676-2121 MAIL ADDRESS: STREET 1: ONE COCA COLA PLAZA CITY: ATLANTA STATE: GA ZIP: 30313 11-K 1 a12-15378_111k.htm 11-K

Table of Contents

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

 


 

FORM 11-K

 


 

x        ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

For the fiscal year ended December 31, 2011

 

OR

 

o        TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from                to               

 

Commission File No. 001-02217

 

 

CARIBBEAN REFRESCOS, INC. THRIFT PLAN
(Full title of the plan)

 

GRAPHIC

(Name of issuer of the securities held pursuant to the plan)

 

One Coca-Cola Plaza
Atlanta, Georgia  30313

(Address of the plan and address of issuer’s principal executive offices)

 

 

 



Table of Contents

 

CARIBBEAN REFRESCOS, INC.

THRIFT PLAN

 

Financial Statements and Supplemental Schedule

As of December 31, 2011 and 2010

and for the Year Ended December 31, 2011

with Report of Independent Registered Public Accounting Firm

 



Table of Contents

 

CARIBBEAN REFRESCOS, INC. THRIFT PLAN

 

Financial Statements and Supplemental Schedule

As of December 31, 2011 and 2010

and for the Year Ended December 31, 2011

 

Table of Contents

 

 

Page

 

 

Report of Independent Registered Public Accounting Firm

1

 

 

Statements of Net Assets Available for Benefits

2

 

 

Statement of Changes in Net Assets Available for Benefits

3

 

 

Notes to Financial Statements

4

 

 

Supplemental Schedule

 

 

 

Schedule H, line 4i — Schedule of Assets (Held at End of Year)

11

 



Table of Contents

 

 

To the Thrift Plan Committee of

Caribbean Refrescos, Inc.

Caribbean Refrescos, Inc.

Cidra, Puerto Rico

 

Report of Independent Registered Public Accounting Firm

 

We have audited the accompanying statements of net assets available for benefits of the Caribbean Refrescos, Inc. Thrift Plan (the “Plan”) as of December 31, 2011 and 2010 and the related statement of changes in net assets available for benefits for the year ended December 31, 2011.  These financial statements are the responsibility of the Plan’s management.  Our responsibility is to express an opinion on these financial statements based on our audits.

 

We conducted our audits in accordance with standards of the Public Company Accounting Oversight Board (United States).  Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.  An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements.  An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation.  We believe that our audits provide a reasonable basis for our opinion.

 

In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2011 and 2010 and the changes in net assets available for benefits for the year ended December 31, 2011, in conformity with U.S. generally accepted accounting principles.

 

Our audits were performed for the purpose of forming an opinion on the basic financial statements taken as a whole.  The supplemental schedule of assets held at end of year is presented for purposes of additional analysis and is not a required part of the basic financial statements but is supplemental information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974.  This supplemental schedule is the responsibility of the Plan’s management and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statements. The supplemental schedule has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated in all material respects in relation to the financial statements as a whole.

 

/s/ BANKS, FINLEY, WHITE & CO.

 

College Park, Georgia

June 28, 2012

 



Table of Contents

 

CARIBBEAN REFRESCOS, INC. THRIFT PLAN

 

Statements of Net Assets Available for Benefits

December 31, 2011 and 2010

 

 

 

2011

 

2010

 

ASSETS

 

 

 

 

 

 

 

 

 

 

 

Investments (Notes 3 and 4)

 

$

32,612,251

 

$

32,007,058

 

Notes receivable from participants

 

751,122

 

713,152

 

Due from broker for securities sold

 

206,551

 

277,476

 

 

 

 

 

 

 

Net assets available for benefits

 

$

33,569,924

 

$

32,997,686

 

 

Refer to Notes to Financial Statements.

 

2



Table of Contents

 

CARIBBEAN REFRESCOS, INC. THRIFT PLAN

 

Statement of Changes in Net Assets Available for Benefits

Year Ended December 31, 2011

 

Additions to net assets:

 

 

 

 

 

 

 

Investment income:

 

 

 

Net appreciation in fair value of investments

 

$

1,143,095

 

Dividend income from common stock

 

551,119

 

Interest and dividend income

 

113,982

 

Total investment income

 

1,808,196

 

 

 

 

 

Interest from participant loans

 

29,612

 

 

 

 

 

Contributions:

 

 

 

Employer

 

588,847

 

Participants

 

1,459,346

 

Total contributions

 

2,048,193

 

 

 

 

 

Total additions

 

3,886,001

 

 

 

 

 

Deductions from net assets:

 

 

 

 

 

 

 

Distributions to Participants

 

3,303,764

 

Administrative expenses

 

9,999

 

 

 

 

 

Total deductions

 

3,313,763

 

 

 

 

 

Net increase in net assets available for benefits

 

572,238

 

 

 

 

 

Net assets available for benefits, beginning of year

 

32,997,686

 

 

 

 

 

Net assets available for benefits, end of year

 

$

33,569,924

 

 

Refer to Notes to Financial Statements.

 

3



Table of Contents

 

CARIBBEAN REFRESCOS, INC. THRIFT PLAN

NOTES TO FINANCIAL STATEMENTS

December 31, 2011 and 2010

 

Note 1 — Description of Plan

 

The following description of the Caribbean Refrescos, Inc. Thrift Plan (the “Plan”) provides only general information. Participants should refer to the Summary Plan Description for a more complete description of the Plan’s provisions.

 

General

 

The Plan is a defined contribution pension plan covering a majority of the employees of Caribbean Refrescos, Inc. (the “Company”), a wholly owned subsidiary of The Coca-Cola Company. Eligible employees may begin participating in the Plan after reaching age 18 and completing three months of service. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”).

 

Contributions

 

The election to contribute to the Plan by employees (“Participants”) is voluntary. Participant contributions are in the form of payroll deductions with the Company currently making a matching contribution equal to 100% of the first 3% of compensation contributed by a Participant subject to certain limitations imposed by the Puerto Rico Internal Revenue Code of 2011 (the “Code”).  Participants are fully vested in their contributions and the Company contributions immediately.

 

Participants may contribute to the Plan with “Before-Tax” dollars and/or “After-Tax” dollars.  “Before-Tax” contributions are not subject to current income taxation. For the year 2011, Participants may contribute to the Plan on a “Before-Tax” basis up to $10,000 of their annual compensation subject to certain limitations imposed by the Code.  In addition to “Before-Tax” contributions, Participants may contribute on an “After-Tax” basis up to 10% of their annual compensation.  Participants are allowed to roll over account balances from other qualified retirement plans into the Plan. The Plan allows Participants who are age 50 or older by the end of the year to make additional “Catch-Up” contributions within limits imposed by the Code.

 

All contributions are paid to a trustee and are invested as directed by Participants.  Participants may direct their contributions into a money market fund, common stock of The Coca-Cola Company, mutual funds and collective trust funds with various investment objectives and strategies.

 

Valuation of Participant Accounts

 

Participant account balances are valued based upon the number of shares or units of each investment fund credited to Participant accounts. The shares and units are revalued on a daily basis to reflect earnings and other transactions. Participant account balances are updated on a daily basis to reflect transactions affecting account balances.

 

4



Table of Contents

 

CARIBBEAN REFRESCOS, INC. THRIFT PLAN

NOTES TO FINANCIAL STATEMENTS (Continued)

 

Note 1 — Description of Plan (Continued)

 

Participant Loans

 

Participants may borrow from their account balances subject to certain limitations. Participant loans may be taken from a combination of “Before-Tax”, “After-Tax” and rollover account balances. The following applies to Participant loans:

 

(a)         The maximum amount that a Participant may borrow is the lesser of 50% of their account balance or $50,000. The $50,000 maximum is reduced by the Participant’s highest outstanding loan balance on any loans during the preceding 12 months.

 

(b)         The minimum amount that a Participant may borrow is the lesser of 50% of their account balance or $1,000.

 

(c)          The loan interest rate is the prime rate (as published in The Wall Street Journal at the inception of the loan) plus 1%.

 

(d)         The loan repayment period is one to five years for a general purpose loan and one to 15 years for a loan used to purchase or build a principal residence.

 

Payment of Benefits

 

Generally, payments from the Plan are made in a single lump sum upon a Participant’s retirement, termination or disability. However, upon death of a Participant, the surviving spouse or other designated beneficiary may choose to receive payments, up to a maximum of 10 annual installments, from the Plan. Participants may elect to receive in-service withdrawals from their After-Tax account balances.

 

Administration

 

The Company is the named Plan administrator as defined in ERISA Section 3(16)(A). However, the Thrift Plan Committee of Caribbean Refrescos, Inc. (the “Committee”), on behalf of the Company and as designated in the Plan document, has substantial control of and discretion over the administration of the Plan.  Banco Popular de Puerto Rico is the trustee of the Plan.  Merrill Lynch, Pierce, Fenner & Smith Inc. is the custodian of the Plan (the “Custodian”), who performs custodial and recordkeeping services.

 

Plan Termination

 

The Company expects the Plan to be continued indefinitely but reserves the right to terminate the Plan or to discontinue its contributions to the Plan at any time.  In the event of termination, the Committee may either:

 

(a)   continue the Trust for as long as it considers advisable, or

 

(b)         terminate the Trust, pay all expenses from the Trust Fund, and direct the payment of Participant account balances, either in the form of lump-sum distributions, installment payments, or any other form selected by the Committee.

 

5



Table of Contents

 

CARIBBEAN REFRESCOS, INC. THRIFT PLAN

NOTES TO FINANCIAL STATEMENTS (Continued)

 

Note 2 — Summary of Significant Accounting Policies

 

Basis of Accounting

 

The financial statements of the Plan are presented on the accrual basis of accounting.

 

Use of Estimates

 

The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires Plan management to make estimates that affect certain reported amounts and disclosures. Actual results may differ from those estimates.

 

Valuation of Investments

 

The Plan’s investments are stated at fair value in accordance with Accounting Standards Codification Topic 820 “Fair Value Measurements and Disclosures” (ASC 820).  See Note 3 for fair value measurements.

 

Notes Receivable from Participants

 

Participant loans, which are classified as receivables, are stated at the unpaid principal balance plus any accrued but unpaid interest.

 

Investment Transactions and Income

 

Investment transactions are recorded on a trade-date basis. Dividend income is recorded on the ex-dividend date. Interest is recognized on an accrual basis. The net appreciation or depreciation in fair value of investments consists of realized gains and losses and changes in unrealized gains or losses of these investments during the year. Realized gains and losses on investments are determined on the basis of average cost. Unrealized gains or losses on investments are based on changes in the market values or fair values of such investments.

 

Administrative Expenses

 

Certain administrative expenses were paid by the Plan, as permitted by the Plan document. All other administrative expenses were paid by the Company.

 

6



Table of Contents

 

CARIBBEAN REFRESCOS, INC. THRIFT PLAN

NOTES TO FINANCIAL STATEMENTS (Continued)

 

Note 3 — Fair Value Measurements

 

ASC 820 defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date.  ASC 820 established a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows:

 

· Level 1 —                   Quoted prices in active markets for identical assets or liabilities.

 

· Level 2 —                   Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.

 

· Level 3 —                   Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.

 

The fair values of investments as of December 31, 2011 are summarized in the table below:

 

 

 

Level 1

 

Level 2

 

Level 3

 

Total

 

U.S. equity securities:

 

 

 

 

 

 

 

 

 

Company common stock

 

$

18,803,206

 

$

 

$

 

$

18,803,206

 

Collective trust funds

 

 

302,319

 

 

302,319

 

Mutual funds

 

1,875,751

 

 

 

1,875,751

 

International equity securities:

 

 

 

 

 

 

 

 

 

Mutual funds

 

406,265

 

 

 

406,265

 

Collective trust funds

 

 

197,010

 

 

197,010

 

Allocation funds:

 

 

 

 

 

 

 

 

 

Mutual funds

 

376,654

 

 

 

376,654

 

Fixed income securities:

 

 

 

 

 

 

 

 

 

Mutual funds

 

1,506,183

 

 

 

1,506,183

 

Money market funds

 

 

9,144,863

 

 

9,144,863

 

Total investments

 

$

22,968,059

 

$

9,644,192

 

$

 

$

32,612,251

 

 

7



Table of Contents

 

CARIBBEAN REFRESCOS, INC. THRIFT PLAN

NOTES TO FINANCIAL STATEMENTS (Continued)

 

Note 3 — Fair Value Measurements (Continued)

 

The fair values of investments as of December 31, 2010 are summarized in the table below:

 

 

 

Level 1

 

Level 2

 

Level 3

 

Total

 

U.S. equity securities:

 

 

 

 

 

 

 

 

 

Company common stock

 

$

21,552,515

 

$

 

$

 

$

21,552,515

 

Collective trust funds

 

 

352,223

 

 

352,223

 

Mutual funds

 

2,244,269

 

 

 

2,244,269

 

International equity securities:

 

 

 

 

 

 

 

 

 

Mutual funds

 

234,663

 

 

 

234,663

 

Collective trust funds

 

 

248,811

 

 

248,811

 

Allocation funds:

 

 

 

 

 

 

 

 

 

Mutual funds

 

264,396

 

 

 

264,396

 

Fixed income securities:

 

 

 

 

 

 

 

 

 

Mutual funds

 

806,253

 

 

 

806,253

 

Money market funds

 

 

6,303,928

 

 

6,303,928

 

Total investments

 

$

25,102,096

 

$

6,904,962

 

$

 

$

32,007,058

 

 

The investment in common stock of The Coca-Cola Company is valued at the closing price per share as reported on the New York Stock Exchange and is classified as Level 1.

 

The investments in mutual funds are valued at the publicly quoted net asset value (“NAV”) of the funds.  These funds are registered with the Securities and Exchange Commission under the Investment Company Act of 1940 and are actively traded.  These investments are classified as Level 1.

 

Collective trust funds are similar to mutual funds, with an investment manager and written investment objectives, but are not open to the public.  Collective trust funds are formed by combining investments of institutional investors, such as pension plans, to result in cost savings over other investment structures such as mutual funds.  The Plan’s collective trust funds consist of a small cap value equity trust with an investment objective of long-term capital appreciation and an international equity trust with an investment objective of total return through capital appreciation and current income.  The collective trust funds have no redemption restrictions or unfunded commitments. The collective trust funds redemption frequency is daily and there is no redemption notice.  These funds are valued based on NAV determined by the investment manager based on the fair value of the underlying assets net of liabilities divided by the number of outstanding units of the trust on its valuation date. The Plan’s collective trust funds are classified as Level 2.

 

Money market funds are stated at cost plus accrued interest, which approximates fair value.  The Plan’s money market funds are classified as Level 2.

 

The Plan’s valuation methods used to measure fair value of its investments may produce fair values that may not be indicative of a future sale, or reflective of future fair values.  The use of different methods to determine the fair value of investments could result in different estimates of fair value at the reporting date.

 

8



Table of Contents

 

CARIBBEAN REFRESCOS, INC. THRIFT PLAN

NOTES TO FINANCIAL STATEMENTS (Continued)

 

Note 4 — Investments

 

The fair value of individual investments that represented 5% or more of the Plan’s net assets as of December 31, 2011 and 2010 was as follows:

 

 

 

2011

 

2010

 

Common stock of The Coca-Cola Company

 

$

18,803,206

 

$

21,552,515

 

BlackRock FFI Government Fund

 

$

9,144,863

 

$

6,303,928

 

 

During the year ended December 31, 2011, the Plan’s investments (including investments purchased, sold, as well as held during the year) appreciated (depreciated) in fair value as follows:

 

Common stock of The Coca-Cola Company

 

$

1,368,246

 

Mutual funds

 

(161,624

)

Collective trust funds

 

(63,527

)

Net appreciation in fair value of investments

 

$

1,143,095

 

 

Note 5 — Transactions with Parties-in-Interest

 

During the year ended December 31, 2011, the Plan had the following transactions relating to common stock of
The Coca-Cola Company:

 

 

 

Shares

 

Fair Value

 

Purchases

 

146,703

 

$

9,733,939

 

Sales

 

205,666

 

$

13,851,494

 

Dividends received

 

N/A

 

$

551,119

 

 

The Plan held the following investments in common stock of The Coca-Cola Company:

 

 

 

Shares

 

Fair Value

 

December 31, 2011

 

268,732

 

$

18,803,206

 

December 31, 2010

 

327,695

 

$

21,552,515

 

 

9



Table of Contents

 

CARIBBEAN REFRESCOS, INC. THRIFT PLAN

NOTES TO FINANCIAL STATEMENTS (Continued)

 

Note 5 – Transactions with Parties-in-Interest (Continued)

 

The Plan’s investment in the Government Fund is managed by BlackRock, Inc., an affiliate of the Custodian.  Therefore, transactions in this fund qualify as party-in-interest.

 

Note 6 – Risk and Uncertainties

 

The Plan invests in various investment securities. Investment securities are exposed to various risks such as interest rate, market, and credit risks. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect Participants’ account balances and the amounts reported in the statement of net assets available for benefits.

 

Note 7 – Income Tax Status

 

The Plan qualifies under Sections 165(a) and 165(e) of the Puerto Rico Income Tax Act of 1954 (the “Act”), as amended, (for applicable tax years) and Sections 1165(a) and 1165(e) of the Puerto Rico Internal Revenue Code of 1994, as amended, (for applicable tax years) and Sections 1081.01(a) and 1081.01(d) of the Puerto Rico Internal Revenue Code of 2011, as amended (for applicable tax years) and is, therefore, not subject to tax under present income tax laws. Once qualified, the Plan is required to operate in conformity with the applicable tax requirements to maintain its qualification. The Plan obtained a determination letter on October 19, 1990, in which the Puerto Rico Department of the Treasury ruled that the Plan, as then designed, was in compliance with the applicable requirements of the Act. The Plan has been amended subsequent to receiving this determination letter. The Plan obtained letters on October 22, 1998, September 27, 2000 and February 16, 2012, in which the Puerto Rico Department of the Treasury ruled that the amendments did not affect the qualified status of the Plan. The Committee believes that the Plan is being operated in compliance with the applicable requirements of the Code and, therefore, believes that the Plan is qualified and the related trust is tax exempt.

 

Note 8 – Subsequent Events

 

Plan management has evaluated material events and transactions that have occurred after December 31, 2011 and concluded that no subsequent events have occurred through June 28, 2012, the date the financial statements were issued, that require adjustment to or disclosure in these financial statements.

 

10



Table of Contents

 

CARIBBEAN REFRESCOS, INC. THRIFT PLAN

 

EIN: 66-0276572 PN: 001

 

Schedule H, line 4i – Schedule of Assets (Held at End of Year)

 

December 31, 2011

 

(a)

 

(b) Identity of issue, borrower, lessor or
similar party

 

(c) Description of investment including maturity
date, rate of interest, collateral, par, or maturity value

 

(e) Current value

 

 

 

 

 

 

 

 

 

 

 

MONEY MARKET FUNDS:

 

 

 

 

 

 

 

 

 

 

 

 

 

*

 

BlackRock, Inc.

 

FFI Government Fund

 

$

9,144,863

 

 

 

 

 

 

 

 

 

 

 

COMMON STOCK:

 

 

 

 

 

 

 

 

 

 

 

 

 

*

 

The Coca-Cola Company

 

Common Stock

 

18,803,206

 

 

 

 

 

 

 

 

 

 

 

COLLECTIVE TRUST FUNDS:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Invesco

 

Structured Small Cap Value Equity Trust

 

302,319

 

 

 

 

 

 

 

 

 

 

 

Invesco

 

International Equity Trust

 

197,010

 

 

 

 

 

 

 

 

 

 

 

Total Collective Trust Funds

 

 

 

499,329

 

 

 

 

 

 

 

 

 

 

 

MUTUAL FUNDS:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dodge & Cox

 

Income Fund

 

685,553

 

 

 

 

 

 

 

 

 

 

 

Dodge & Cox

 

International Stock Fund

 

260,449

 

 

 

 

 

 

 

 

 

 

 

Janus

 

Overseas Fund

 

145,816

 

 

 

 

 

 

 

 

 

 

 

Janus

 

Perkins Mid Cap Value Fund

 

287,358

 

 

 

 

 

 

 

 

 

 

 

Janus

 

Balanced Fund Class I

 

195,219

 

 

 

 

 

 

 

 

 

 

 

Invesco

 

Global Growth Fund

 

250,162

 

 

 

 

 

 

 

 

 

 

 

Invesco

 

U.S. Government Fund

 

760,903

 

 

 

 

 

 

 

 

 

 

 

Invesco

 

Van Kampen American Franchise Fund

 

368,000

 

 

 

 

 

 

 

 

 

 

 

Invesco

 

Van Kampen Equity Fund

 

1,780

 

 

 

 

 

 

 

 

 

 

 

Pimco

 

Total Return Fund

 

59,727

 

 

 

 

 

 

 

 

 

 

 

Prudential Jennison

 

Mid-Cap Fund

 

605,416

 

 

 

 

 

 

 

 

 

 

 

T. Rowe Price

 

Equity Index 500 Fund

 

363,035

 

 

11



Table of Contents

 

CARIBBEAN REFRESCOS, INC. THRIFT PLAN

 

EIN: 66-0276572 PN: 001

 

Schedule H, line 4i – Schedule of Assets (Held at End of Year)

 

December 31, 2011

 

(a)

 

(b) Identity of issue, borrower, lessor or
similar party

 

(c) Description of investment including maturity date
rate of interest, collateral, par, or maturity value

 

(e) Current value

 

 

 

 

 

 

 

 

 

 

 

MUTUAL FUNDS (CONTINUED):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

T. Rowe Price

 

Retirement Income Fund

 

44,575

 

 

 

 

 

 

 

 

 

 

 

T. Rowe Price

 

Retirement 2015 Fund

 

25,567

 

 

 

 

 

 

 

 

 

 

 

T. Rowe Price

 

Retirement 2020 Fund

 

776

 

 

 

 

 

 

 

 

 

 

 

T. Rowe Price

 

Retirement 2025 Fund

 

35,749

 

 

 

 

 

 

 

 

 

 

 

T. Rowe Price

 

Retirement 2030 Fund

 

4,806

 

 

 

 

 

 

 

 

 

 

 

T. Rowe Price

 

Retirement 2035 Fund

 

9,342

 

 

 

 

 

 

 

 

 

 

 

T. Rowe Price

 

Retirement 2040 Fund

 

276

 

 

 

 

 

 

 

 

 

 

 

T. Rowe Price

 

Retirement 2045 Fund

 

3,964

 

 

 

 

 

 

 

 

 

 

 

T. Rowe Price

 

Retirement 2050 Fund

 

56,380

 

 

 

 

 

 

 

 

 

 

 

Total Mutual Funds

 

 

 

4,164,853

 

 

 

 

 

 

 

 

 

 

 

PARTICIPANT LOANS:

 

 

 

 

 

 

 

 

 

 

 

 

 

*

 

Participants

 

Loans with interest rates ranging from 4.25% to 10.0%. Maturities through 2016.

 

751,122

 

 

 

 

 

 

 

 

 

 

 

TOTAL ASSETS (HELD AT END OF YEAR)

 

 

 

$

33,363,373

 

 


*

 

Party-in-interest

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  Note: Column (d) cost is not required for participant-directed investments.

 

 

 

 

12



Table of Contents

 

SIGNATURES

 

The Plan.  Pursuant to the requirements of the Securities Exchange Act of 1934, the Thrift Plan Committee of Caribbean Refrescos, Inc. has duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

CARIBBEAN REFRESCOS, INC. THRIFT PLAN

 

 

(Name of Plan)

 

 

 

 

 

 

 

By:

/s/ Cándido Collazo

 

 

Cándido Collazo

 

 

Chairman, Thrift Plan Committee of
Caribbean Refrescos, Inc.

 

 

 

 

 

 

Date: June 28, 2012

 

 

 

13



Table of Contents

 

EXHIBIT INDEX

 

Exhibit No.

 

Description

 

 

 

23

 

Consent of Independent Registered Public Accounting Firm

 

14


EX-23 2 a12-15378_1ex23.htm EX-23

Exhibit 23

 

CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

 

We consent to the incorporation by reference in the registration statement listed below of our report dated June 28, 2012, with respect to the statements of net assets available for benefits of the Caribbean Refrescos, Inc. Thrift Plan as of December 31, 2011 and 2010, the related statement of changes in net assets available for benefits for the year ended December 31, 2011, and the related supplemental schedule H, line 4i - schedule of assets (held at end of year) as of December 31, 2011, which report  appears in the annual report on Form 11-K of the Caribbean Refrescos, Inc. Thrift Plan for the year ended December 31, 2011:

 

Registration Statement No. 33-26251 on Form S-8, dated

December 20, 1988

 

 

/s/ BANKS, FINLEY, WHITE & CO.

 

College Park, Georgia

June 28, 2012

 


GRAPHIC 3 g153781bai001.gif GRAPHIC begin 644 g153781bai001.gif M1TE&.#EAIP%!`/4``/\?#?\A#_\E$_\H%_\N'/\P'_\T(_\X)_\\+/\_,/]" M,_]'./]*//]/0?]21/]62?]:3?]>4?]B5?]F6?]I7?]M8O]Q9O]U:O]Y;O]] M<_^!=O^%>_^(?_^,@_^0A_^4B_^8C_^.3DO(1@2#@L,#Q0=*G@Z MA%0@'B0;F9D'U MP\'<`@T?/F2`P,X2@DAR8WY)X0#`@Z@W'F`U4J+6M1PL-C@8IX`!@A%L,VM> M9.K"``4<6#PL@@,&"0L%E_X%?*`"OJPL"DY`- M$@'%9C=65#P@,/)`!I2]SWDX\"'KLQ@?%C#_JX`=`@[0L6PP,``#0!H2R%#! M<4'#-8D07CG?I(,%@K7'\^MOLP)!`A(`E4+(*A3TI.`A`0)<\&`J)R!@0#H%-``6&2KT,L&31YQ0T%\$ M9$`;A.IPJ0,."E1W10T=(%#`:H`Y4((5+7170`>E+*#"$"]8(,`$T!0"PP3, M&?"`8T-0D4$&>*:J&0<'D&J(#2-,-A*%79[3:@Z?C%/`)+.8H$T.&]#(T8,X M),7+I:JFF$&)&O+#0@$2L&'*`2?`:(0,%TR2`'<$-,"&"B,9X%XP0LBPH0[^ M+6!P0``8=`H(#M.=8P`'\@A$@0,&;.ANLOP>8JH"X?7Q1Q80*!`5N`@0$((. M%LRBS@$%*-#!FHO0$($OEA`P08!$R##)`!ZH2@4,DZ5C`"W.*B@'"P8D"08+ M$I1H@`-8F8!.GT;<($,($AP0R\*IQ*!C)`H@2\0-##!WP'#]-KU(!P>@U.EH M1]2P`EA"X.!%"^$RZ8$`O2`0RF*/Z?""*]TE3`''17P0"K\G2/*7`0U4:,4+ M!F!@A`?[".*'"0P,P$"%);Q9`"DL4'#!!144#'$YHRIBA0EN%O2`W:5V.8O" M3G?.Y@"U=&J#<4?84$($"XS@C!4R=.?.#3=D8$'^!B"

"`L$X(#+,3Z`?>@[49&"[FY*P#;Z=>&.`2+`/88I M('PV(UL?3H"]!6!E`B=#T"1.8HL;5,`7"&+C&I M""UP0#EF$& M+#C!"]8#.QRLK@90K`%:-*`TZ:$%!0/`AQP(1:E`K*`Y"-A-!@#0"Y/,,'R( MH,%R^,2C$+K1%BD`Q1?^1J:`&&1N!/*20`&'X(%9&"`]0[C!`J;'#1BD[89@ M^L()=$2`!Q0$/T?(P2+!$0`!+`!K1:B!![0#BPJ\X`$+<$"ALA("2_"B6E:@ M(M%FAA7U+"!Y1=B`0P1FMK(8H%H2(<$(3,""%^CP$#/`%QOC\,9BBD$"`UC? M%61P`,P0(8`'<%`)4X`]!"3)!@T`Y#9HL(`LK4-01H@!J`@``2!.H`$EA$', MV!$!$[R@)4=`@78:B8(4-N=DBVG=[@[WS%G<<`%,2P$!P)D5%`B`AGW09T%" M5@0S6.&#;Z!!`]Z4,/,9\Z*%>`$[4$6(W"VH5!C`F`+H-X09=*<@OJ+"#1S^ MX``C_BYFD?A+`5):"AVD0%$'B("TZG-`(Y"@.0<`6AD8@),<<$`D!L@`0**D M#@+0E`(6$4E4J!"E!-PPC%*Q@`.N50!4`<(&^"K("?EA@^_<@@HT$&;_((K1 MMO:(.0X@U@@&P"DB+"L2!D"1$290`-XQ2:4L=:DM5+D:*95P!-M9@-2$<#:V M03,!CKF!"3#0TB'@X(**XM%Z*.*F._5C`A6PP`0P0P4&,LH`D"Q"`S8`H^I% M@*VEAB&`!A#.(!H!`0"P4$F^>*&UAO`!C#E0 M"#5@0`0$*[DN+2JF`S1B'^'$/"&DX"6E(A'1P&+^@XL%@*,ZN$',"N)5*C37 MJKH)@T:]R3E".&!83M`N929-"`9I]!HI-.50>$ MM>,S0,4+;4XE2P2@%"%,D9N8EN\*5/"O"6HP@^EH,!`F2"[G,@>U@*7"Q`GK MKH*G?(0DIVT=9&%H5E:P%$O<;E!AQ5E]DJH3"52S(*0M0I3XI`%,\`-I0*P! M3".!OQH`YEPZ:/$!%&L=,T>B`?P=0L.LZJ8'!#J]V:K,!%P%AQ#?S+:D+``0 M@W<"#/:/RIB.AHYN"+'^`3+:I#CV50GKTIT%L`&Q,(0(4[-D`%(8@@=C?;`,-9'#H,.#`?D3#'%4) MH-=4<)C3")!QIK<]!!I@8`%_8<`%4L"''/C93;`T0IUDRH(<4""OR\6&/F.* M#FT/H0;=))HU9`#*#JP@=2FP@-P2ILP8[12QVR)`R`22MN#(EW\$<"8`-Q'@`R%VP)>Q(=[" M@GP(-;^E=7*@`@VD0P*,XW1<@:R#+Z*CU45X]VKLC87XK#+=4DD%-?T3W"+^ M]!%_MUCST85$](E3J81=#P3%V:J>LR:"#QE.F%"-@(%%'<`!&2A`=7)@`^"1 MP8D$-@++$#22!_ROTDVU*!%HP``[WH"SDM@X$6)PR$1FA008?'F\^3@+!#D^ M<]>P`0.N2L(,&`#K(C_"M5=S`((:,P89X(`&.I!W;I9`%KQ5!">`+P(``5=S#VX`:[;$=587>7-7!+%"!3&0)2,Q?D70=GR" M7D)@`=>%6EE1`W)2!,7')U`G!-Y0$.2C`>XR$&(H`!7`-NLF/59@`XY$0A)A M`1`@`0O3)@O03;TG!E.G)0]B`YM4``,@``\P@%`*09GZ8,*\`:3SH3XET`G#Q,<8!#3(D"^1S`*QB#@+P@D(``TH!`)A! M`V-A#J]PA`!?=B&3$%3$ M@7QA8`$4=70;5SV(M(,P@`!@L0%7&'U%$&PCL5O\<`+7I2`,J&6]86F1\&)" M0`^3$#$5(`$!H(CI"#4#X!PG@%B]MU*V]!J,1S/6X0D&D3`5,%'7!P=\418$ M@'%"\&_C@``9,!V8F!4V,!:"&`(F$#-,-P0LHPX%4"UU86D&<$(IH``6L1H* ML(,ILGF\8X`7(!+<40`?)14MX`HC<1:0EPX'`%Y&4`$G\T==XC-94A"_F%ZY MP0L+-P0:$#%5EPC8Y(1^=P5>0C0G8`$68$?1TW=7D`()L!0H!B@+:`2JZ$W^ M/%E3)D8`!93?"*!95"#(T5*."D$RIM3 M`R>5GT3PE0@B`;:A)W:)EQC9''64%>\FH"S7')@@5%;(7D?@:`GCECJ@DP0W M>7"P=\/40GU%-#-8`6Y'5$;``0,P7OS`95`820_@37OV(&OXA##2CD1`10DW M5ID3`@V``6]2$&U$!29PA4T)G(QF`W"98T5@8`8``9P`*0RP,B.!9C"2`>[9 MI!0E>1>TH6FU.024%:1F"5UY!;"&('-I7403,#(J&"APJ`H'(Q"P=G:*/;PP M`:VD`\MB59619D18DD?^T(4%8!Y#$'=\DF9#8$@WQ"5VZG;95IO790E:I`/S M=@!A>J1A.00IX'8`DPB]YH2`5D)W.F)S`IPWPZ0PYD\@2@0U<`#D"`;SA6-E M*03!-C>NHE4<C/AFHI.B`!8MY)T M*A6F19Q$4)KJEPA:YR9&4P36-Q+%^@PIJP#08@3GBH56@`,.8(1B4&'8M97^ M1("E]%8!>I!"WE(*8ZJI4%]KAL;C!Z(V&?#$BS>9H5*IH5 M\]8G*S&H(HL3X.F$_(ASUU4`0-.OSFD$^'9T0T<$A'L1Z&D_0&D=P=(=6KI7 M%(6%LRA2.PA6P*%,_=H=E84()BMF1V"%?))JT^8Z6*<#-1F[I2(!IO8&(45O MLFJ[(V8)#S``JULJ97M#'K`',U!*#X`2+8";ND6;.=MEJ8-GH>L9"$JG6R8)/02P+1]9!$KJL1R+;OQ@;H+[!AGJ MND>0+?X)#F![!%CZ,)*0#.MRN%`"K'\Q``DP`PTF4P2PH2B*()6%5B"U6"K%%\%'TV->EA6]9HQ0 MFC-),1()T*Y'(%!.R!PAX%+/LIMN(CC(8J>?L2WL(`$HX8RK$3&,5BH]QF9= MX7('<`%RD`-G*3Q-A5\V\`T94`$*T`(M`)YD7,?ZI_%FICFL,G(2P&N6-SST`%)``4 M)E!WF=,"PKQ2SWB1&L4"IS`$]%F[%9K`UH&/2%I36F<`24L%LVL`D$9L+NG! M:=/!95>^1#PH]I.5;JHD59K2FCW*!,!:^\("'-`!72F%?_8@O]J:1:!02$<$ M7$.DD))3.]4\5Q9E(A(%S699+X`"2@0-.;`"(W`"`0,O%M`!(TT$M(P.28(# M"/`5I8,`*75N-2L5%9`\+T!ZT9MT+HU),5UC`N(W6BO2P`C41A`!;00"D<>C M0O``%D4%UG?=9'!7E\P/-5R])6S,Q(LIRID5A;/^?,"(JCLXL(0M/#'E,G0M MOYT=`A%C"3UL6"6`4W`\MM!#=;6#J6 M*L*M`^?Z9P_!$'LD!!@@:[6"5[$\!#\%'1:WR5E18PJC*^.0-:T`A"4#9*`+N&GL)DPURHLFF&1W+- MK!1U<=8R;QJZ>#[6750`+DYH1U:PY1)'"(G1I22F)IAM]0P>^AIG^[7QNH-KQJ1Y)K0.X2$-'96$$?K_!6\0)P^-:H;B6;C8? MT!*U4`$/,*8,8,M5/H63UZ(%4)9+6[F%^<,)$QHWZ07XK(T3Z]*OPQL"`U'O M9DN:#@;?ZDQ!Z[C$P15O[M)86\&-JB_IZ,O12P4B\`!OH'21VP8X(&ZB[CIT M9BVU=42PV]-D0)]C^WC_-8/I-6>QW3'6O+@70('\L,!K M_J49'P)@=\L0[JX/+^ M1KG*;L"6>,:`"(]`!LD."H>6"X@=;'Y[I8H`K8[7#'L\/'$#TR,4G M25QUWUO,WJB M```$($#X"*-8I=BO$%.8=0[VGNF8.=D7#5F.4?!>F7>N(0[##0;SD!,!HH\?81;#^+%#[LD"@XQ`4!P5-E]3) M%"--(4'XZ')*H>%P8.E6BBF)@$`4+E:)H:B8):NP!2L4-B*INE$88=CFJB9" MZB/,(*(JZ21+[`"&2N-@Q*KPX*7.*LGF`:U@8:U2R:1`K*"BTF;A`,%(AC*) M!!&U956G,::SMK.#")'@L=#6UTKF1,/!0"!`@``+04%!S+DYD8!@08/6M@H, M%54O5LD&HL&FSL^98"^I1,"$LO04E;:MR-D@I>[2('%2IT;!X[?VCK,"_GJQ MT8$#PA$E_-P9L$`)Q0`2G2H0(5#&R@HLIU0ID:$K`Z45!TZPD/,`AQ)L!;)L MX:!@BPX*^!!(J9,!#X'^#912,'@Q0Q'^CX`L('5P566#HCQ@!&)AK\5L*L%P$L@TD\.PBMXT5K!:I. M#XC;]P0:,:H*Y8A@A$#<7AP**$A0X'F.#EIT.#A5@&\O$XA@Q'!@02W#!*@P MZ+B1X8&8!`:F'.3@50<+T#C@@8(^8<8`"I*((:%%/"`BC[A86"`##`9D``?^ M%@[HX)<%TJNB$!LH"(,`"6KX!0-0#LBNDP=.>5&"$4+`H"8-5GC+"!9RD.$# M`Q;XJK>,E$G$``VL^N4&."AP@`$).#`AAAMLP0&&$!Y@29O'#)#&`"RPZ$#* M6B[(13,.>LGA!0P$L*`@'2K`Y[$'*E!``*:L2*ZA#&@8(;@[$#D@@A9,`.3"/`JTP`0L&2.#@@7KJB&$95A6``($16F%U`0]>PD!* M%8PH0H6^&F$5`0FXJD"M"9YE!@(".HB!U0-4P!7^4E]":`#5)%@@Y@`#.DBW MDQ-`J17>L!Y#90``#,B`$P@&1.4`\P#`-E%;5%#`L?GR4"`#%&0(#0<:6B!! M`PD<@"`#$V"`%Y).=(R%-P%>$0`."UXH9&@F>R"##2;84C67]3KZ M`!1J&0*5M*R801X#HK6BABSQ#0`#<8#5#$-+.,`'#0D^@!=H@%'!&2=Y#@C` M@'6HB``-`AY25$4QI'GN(//FP7G$/"+@`(%)VNP$`P5(>$'0F08P`(+:?F$( MM]H*RL$!.=HE@`$/Z*C^@H4N,QM``<&?KF6&"U949O52F5Q`#`4F1X&3CN\J MI(:9:J(@A1.MP"&8#1A@L9.1'`M^Q7P-![*.$6B7ND3J.I6GF2P$UP!"Q;W* MP11H\$GO]@47N+Y\`@088`*[.O$W,P(B$/].P2O`.D"D@PP4+B25R,&5SK(E M!YS-35`X``06`($1<&`!`TC&`T+@O(+@@`%P"H/79"$'`Q3``DC`QL[(H@3O MX:8`$K",$B0@!P(\`!;RRE(#BG<7$LQO`,A8@`50<+E.X&1O">S$P;*@@`J8 MX#A*8($$'!6!$(C#B/'3`0QXM0W(&.$!%QC!"SB61;_@@"[E\D4.5F"!K%G^ M`086J`F7",2!&>+E9ALD`<>L$(("<.D!,=&!25CBF`RHI0("V)(!\J=%M&T` M8=*`0@5$YPL-<,*$M#8L# M.OH%$QFVABJ\H'T4$*0.;$`8!1B`()7`@>X4,($BQH(%#!`>":J``\?)[$1F M]!@,5+""%D1QC3'09@Q@@$UOM(`%SOL%#6(@3D?^(@00`0TH(\DS"`#%-#` M0,^YD!2,8`0I(*4O8/"!$+"`CTFHP0A,8`(2`&G^8B<0J"]N`(,95,<^CB.` M$FM0`QOX4Z0M,*QF.=O9SE9AE7F`H&?;>IO-D!:UJ57M:EE[EQOXD@RM[5[G2IZ]F9 M%*$!T2UNWO*@QNI^%[Q^X8TK.;H[7]ZV1N_7FJ&,\?5(2H_21A"$10A755AQVGY%?"`P9LZ*D```Q:P@/J6&,8Q1BS87C'=&]SX (!B%]6A```#L_ ` end