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 | |
| | 1Q05 | | 2Q05 | | 3Q05 | | 4Q05 | | FY05 | | 1Q06 | | 2Q06 | | 3Q06 | | 4Q06 | | FY06 | | FY05 | | FY06 | |
Africa | | | 10 | | | 8 | | | 6 | | | 1 | | | 6 | | | (2 | ) | | 7 | | | 5 | | | 6 | | | 4 | | | | | | 6 | | | | | | 6 | |
Eurasia | | | 4 | | | 10 | | | 17 | | | 22 | | | 13 | | | 15 | | | 11 | | | 16 | | | 14 | | | 14 | | | | | | 8 | | | | | | 9 | |
European Union | | | (4 | ) | | 4 | | | 1 | | | (1 | ) | | 0 | | | 1 | | | 3 | | | 10 | | | 7 | | | 6 | | | | | | 16 | | | | | | 16 | |
Latin America | | | 6 | | | 9 | | | 5 | | | 5 | | | 6 | | | 7 | | | 7 | | | 7 | | | 7 | | | 7 | | | | | | 25 | | | | | | 26 | |
North America | | | 0 | | | 1 | | | 3 | | | 3 | | | 2 | | | 2 | | | 2 | | | (1 | ) | | (2 | ) | | 0 | | | | | | 28 | | | | | | 27 | |
Pacific | | | 5 | | | 6 | | | 7 | | | 4 | | | 5 | | | 7 | | | (2 | ) | | 1 | | | 0 | | | 1 | | | | | | 17 | | | | | | 16 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Worldwide | | | 3 | | | 5 | | | 5 | | | 4 | | | 4 | | | 5 | | | 4 | | | 5 | | | 4 | | | 4 | | | | | | 100 | | | | | | 100 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Gallon Sales Growth Rate (2) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | 1Q05 | | | 2Q05 | | | 3Q05 | | | 4Q05 | | | FY05 | | | 1Q06 | | | 2Q06 | | | 3Q06 | | | 4Q06 | | | FY06 | | | | | | | | | | | | | |
Africa | | | 5 | | | 11 | | | 7 | | | 4 | | | 7 | | | 2 | | | 8 | | | 6 | | | (3 | ) | | 3 | | | | | | | | | | | | | |
Eurasia | | | 6 | | | (2 | ) | | 18 | | | 17 | | | 8 | | | 7 | | | 14 | | | 12 | | | 6 | | | 10 | | | | | | | | | | | | | |
European Union | | | (9 | ) | | 1 | | | (1 | ) | | 8 | | | 0 | | | (1 | ) | | 4 | | | 13 | | | 0 | | | 4 | | | | | | | | | | | | | |
Latin America | | | 6 | | | 9 | | | 4 | | | 6 | | | 6 | | | 5 | | | 7 | | | 7 | | | 9 | | | 7 | | | | | | | | | | | | | |
North America | | | (2 | ) | | (2 | ) | | 4 | | | 2 | | | 1 | | | 3 | | | 4 | | | (2 | ) | | (4 | ) | | 0 | | | | | | | | | | | | | |
Pacific | | | 3 | | | 2 | | | 2 | | | 2 | | | 2 | | | 4 | | | (8 | ) | | (1 | ) | | 3 | | | (1 | ) | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Worldwide | | | 0 | | | 2 | | | 5 | | | 4 | | | 3 | | | 4 | | | 5 | | | 4 | | | 3 | | | 4 | | | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Reclassified Operating Segment Data reflect changes in the Company's operating structure which became effective January 1, 2007.
Certain prior year amounts have been reclassified to conform to the current year presentation.
For additional information about our sales volume, refer to page 43 of our 2006 Annual Report on Form 10-K filed on February 21, 2007.
(1) Unit case volume growth based on average daily sales is computed by comparing the average daily sales in each of the corresponding quarters. Average daily sales for each quarter are the actual unit cases shipped during the quarter divided by the number of days in the quarter.
(2) Unit case volume and gallon sales growth rates are not necessarily equal during any given period. Items such as seasonality, bottlers' inventory practices, supply point changes, timing of price increases and new product introductions and changes in product mix can impact unit case volume and gallon sales and can create differences between unit case volume and gallon sales growth rates.
The Coca-Cola Company and Subsidiaries
Reclassified Operating Segment Data (1)
Unaudited
In Millions
| | | 1Q05 | | | 2Q05 | | | 3Q05 | | | 4Q05 | | | FY05 | | | 1Q06 | | | 2Q06 | | | 3Q06 | | | 4Q06 | | | FY06 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net Operating Revenues - Third Party | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Africa | | $ | 266 | | $ | 230 | | $ | 257 | | $ | 354 | | $ | 1,107 | | $ | 269 | | $ | 243 | | $ | 274 | | $ | 317 | | $ | 1,103 | |
Eurasia | | | 126 | | | 209 | | | 173 | | | 142 | | | 650 | | | 158 | | | 270 | | | 203 | | | 160 | | | 791 | |
European Union | | | 888 | | | 1,207 | | | 1,118 | | | 891 | | | 4,104 | | | 691 | | | 1,032 | | | 983 | | | 799 | | | 3,505 | |
Latin America | | | 477 | | | 506 | | | 527 | | | 554 | | | 2,064 | | | 572 | | | 593 | | | 624 | | | 695 | | | 2,484 | |
North America | | | 1,528 | | | 1,775 | | | 1,745 | | | 1,628 | | | 6,676 | | | 1,645 | | | 1,909 | | | 1,809 | | | 1,650 | | | 7,013 | |
Pacific | | | 940 | | | 1,130 | | | 1,095 | | | 993 | | | 4,158 | | | 869 | | | 1,065 | | | 1,108 | | | 948 | | | 3,990 | |
Bottling Investments | | | 960 | | | 1,228 | | | 1,103 | | | 971 | | | 4,262 | | | 1,002 | | | 1,342 | | | 1,429 | | | 1,336 | | | 5,109 | |
Corporate | | | 21 | | | 25 | | | 19 | | | 18 | | | 83 | | | 20 | | | 22 | | | 24 | | | 27 | | | 93 | |
| | $ | 5,206 | | $ | 6,310 | | $ | 6,037 | | $ | 5,551 | | $ | 23,104 | | $ | 5,226 | | $ | 6,476 | | $ | 6,454 | | $ | 5,932 | | $ | 24,088 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net Operating Revenues - Intersegment | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Africa | | $ | 2 | | $ | 4 | | $ | 5 | | $ | 2 | | $ | 13 | | $ | 7 | | $ | 8 | | $ | 14 | | $ | 8 | | $ | 37 | |
Eurasia | | | 25 | | | 28 | | | 13 | | | 9 | | | 75 | | | 18 | | | 31 | | | 21 | | | 16 | | | 86 | |
European Union | | | 211 | | | 225 | | | 196 | | | 175 | | | 807 | | | 182 | | | 229 | | | 245 | | | 203 | | | 859 | |
Latin America | | | 18 | | | 19 | | | 20 | | | 37 | | | 94 | | | 31 | | | 29 | | | 30 | | | 42 | | | 132 | |
North America | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | - | | | 16 | | | 16 | |
Pacific | | | 27 | | | 39 | | | 26 | | | 23 | | | 115 | | | 17 | | | 14 | | | 26 | | | 71 | | | 128 | |
Bottling Investments | | | - | | | - | | | - | | | - | | | - | | | 12 | | | 27 | | | 35 | | | 15 | | | 89 | |
| | $ | 283 | | $ | 315 | | $ | 260 | | $ | 246 | | $ | 1,104 | | $ | 267 | | $ | 338 | | $ | 371 | | $ | 371 | | $ | 1,347 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Net Operating Revenues - Total | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Africa | | $ | 268 | | $ | 234 | | $ | 262 | | $ | 356 | | $ | 1,120 | | $ | 276 | | $ | 251 | | $ | 288 | | $ | 325 | | $ | 1,140 | |
Eurasia | | | 151 | | | 237 | | | 186 | | | 151 | | | 725 | | | 176 | | | 301 | | | 224 | | | 176 | | | 877 | |
European Union | | | 1,099 | | | 1,432 | | | 1,314 | | | 1,066 | | | 4,911 | | | 873 | | | 1,261 | | | 1,228 | | | 1,002 | | | 4,364 | |
Latin America | | | 495 | | | 525 | | | 547 | | | 591 | | | 2,158 | | | 603 | | | 622 | | | 654 | | | 737 | | | 2,616 | |
North America | | | 1,528 | | | 1,775 | | | 1,745 | | | 1,628 | | | 6,676 | | | 1,645 | | | 1,909 | | | 1,809 | | | 1,666 | | | 7,029 | |
Pacific | | | 967 | | | 1,169 | | | 1,121 | | | 1,016 | | | 4,273 | | | 886 | | | 1,079 | | | 1,134 | | | 1,019 | | | 4,118 | |
Bottling Investments | | | 960 | | | 1,228 | | | 1,103 | | | 971 | | | 4,262 | | | 1,014 | | | 1,369 | | | 1,464 | | | 1,351 | | | 5,198 | |
Corporate | | | 21 | | | 25 | | | 19 | | | 18 | | | 83 | | | 20 | | | 22 | | | 24 | | | 27 | | | 93 | |
Eliminations | | | (283 | ) | | (315 | ) | | (260 | ) | | (246 | ) | | (1,104 | ) | | (267 | ) | | (338 | ) | | (371 | ) | | (371 | ) | | (1,347 | ) |
| | $ | 5,206 | | $ | 6,310 | | $ | 6,037 | | $ | 5,551 | | $ | 23,104 | | $ | 5,226 | | $ | 6,476 | | $ | 6,454 | | $ | 5,932 | | $ | 24,088 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Operating Income (Loss) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Africa | | $ | 90 | | $ | 75 | | $ | 96 | | $ | 135 | | $ | 396 | | $ | 103 | | $ | 87 | | $ | 97 | | $ | 137 | | $ | 424 | |
Eurasia | | | 49 | | | 89 | | | 34 | | | 26 | | | 198 | | | 64 | | | 126 | | | 49 | | | 36 | | | 275 | |
European Union | | | 512 | | | 685 | | | 564 | | | 458 | | | 2,219 | | | 455 | | | 687 | | | 632 | | | 480 | | | 2,254 | |
Latin America | | | 277 | | | 299 | | | 297 | | | 303 | | | 1,176 | | | 349 | | | 346 | | | 353 | | | 390 | | | 1,438 | |
North America | | | 313 | | | 460 | | | 414 | | | 366 | | | 1,553 | | | 388 | | | 493 | | | 383 | | | 419 | | | 1,683 | |
Pacific | | | 448 | | | 556 | | | 349 | | | 468 | | | 1,821 | | | 363 | | | 492 | | | 421 | | | 374 | | | 1,650 | |
Bottling Investments | | | (55 | ) | | 53 | | | 5 | | | (40 | ) | | (37 | ) | | (57 | ) | | 87 | | | 47 | | | (59 | ) | | 18 | |
Corporate | | | (275 | ) | | (245 | ) | | (267 | ) | | (454 | ) | | (1,241 | ) | | (270 | ) | | (279 | ) | | (320 | ) | | (565 | ) | | (1,434 | ) |
| | $ | 1,359 | | $ | 1,972 | | $ | 1,492 | | $ | 1,262 | | $ | 6,085 | | $ | 1,395 | | $ | 2,039 | | $ | 1,662 | | $ | 1,212 | | $ | 6,308 | |
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Income (Loss) Before Income Taxes | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Africa | | $ | 86 | | $ | 73 | | $ | 93 | | $ | 130 | | $ | 382 | | $ | 101 | | $ | 84 | | $ | 94 | | $ | 134 | | $ | 413 | |
Eurasia | | | 48 | | | 95 | | | 42 | | | 32 | | | 217 | | | 72 | | | 133 | | | 52 | | | 45 | | | 302 | |
European Union | | | 514 | | | 685 | | | 566 | | | 460 | | | 2,225 | | | 457 | | | 689 | | | 632 | | | 480 | | | 2,258 | |
Latin America | | | 276 | | | 298 | | | 298 | | | 303 | | | 1,175 | | | 349 | | | 346 | | | 350 | | | 389 | | | 1,434 | |
North America | | | 315 | | | 459 | | | 408 | | | 367 | | | 1,549 | | | 388 | | | 492 | | | 383 | | | 418 | | | 1,681 | |
Pacific | | | 446 | | | 555 | | | 346 | | | 467 | | | 1,814 | | | 365 | | | 490 | | | 419 | | | 370 | | | 1,644 | |
Bottling Investments | | | 34 | | | 299 | | | 182 | | | 75 | | | 590 | | | 18 | | | 330 | | | 253 | | | (534 | ) | | 67 | |
Corporate | | | (271 | ) | | (248 | ) | | (282 | ) | | (461 | ) | | (1,262 | ) | | (275 | ) | | (173 | ) | | (357 | ) | | (416 | ) | | (1,221 | ) |
| | $ | 1,448 | | $ | 2,216 | | $ | 1,653 | | $ | 1,373 | | $ | 6,690 | | $ | 1,475 | | $ | 2,391 | | $ | 1,826 | | $ | 886 | | $ | 6,578 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Reclassified Operating Segment Data reflect changes in the Company's operating structure which became effective January 1, 2007.
(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
2005
In the first quarter of 2005, the Company recorded the following transactions which impacted results:
· | An approximate $23 million benefit for Corporate as a result of a noncash pretax gain on issuances of stock by |
Coca-Cola Amatil in connection with the acquisition of SPC Ardmona Pty. Ltd., an Australian fruit company.
· | Charges of approximately $3 million for Africa, $3 million for Eurasia, $3 million for European Union, $4 million for Latin America, $12 million for North America, $3 million for Pacific and $22 million for Corporate as a result of accelerated amortization of stock-based compensation expense due to a change in our estimated service period for retirement-eligible participants. |
In the second quarter of 2005, the Company recorded the following transactions which impacted results:
· | The receipt of approximately $42 million for Corporate related to the settlement of a class action lawsuit concerning the purchase of high fructose corn syrup (“HFCS”). |
· | An approximate $21 million benefit for Bottling Investments for our proportionate share of the HFCS lawsuit settlement related to Coca-Cola Enterprises Inc., (“CCE”). |
In the third quarter of 2005, the Company recorded the following transactions which impacted results:
· | Impairment charges of approximately $85 million for Pacific and $4 million for Bottling Investments primarily related to intangible assets (mainly trademark beverages sold in the Philippines market). |
· | A noncash pretax charge of approximately $5 million for Bottling Investments for our proportionate share of CCE's restructuring charges. |
In the fourth quarter of 2005, the Company recorded the following transactions which impacted results:
· | The receipt of approximately $5 million for Corporate related to the settlement of a class action lawsuit concerning the purchase of HFCS. |
· | An approximate $49 million charge for Bottling Investments for our proportionate share of CCE's tax expense related to repatriation of previously unremitted foreign earnings under the American Jobs Creation Act of 2004 and restructuring charges recorded by CCE, partially offset by changes in certain of CCE's state and provincial tax rates and additional proceeds from CCE's HFCS lawsuit settlement. |
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. |
· | An approximate $9 million charge for Bottling Investments for our proportionate share of CCE’s restructuring costs. |
In the second quarter of 2006, the Company recorded the following transactions which impacted results:
· | An approximate $123 million net gain 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 European Union, $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 Africa, $7 million for European Union, $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. |
· | An approximate $3 million charge for Bottling Investments for our proportionate share of items impacting equity method investees. |
In the fourth quarter of 2006, the Company recorded the following transactions which impacted results:
· | An approximate $615 million charge for Bottling Investments for our proportionate share of CCE’s impairment charges and restructuring charges recorded by other equity method investees, partially offset by changes in certain of CCE’s state and Canadian federal and provincial tax rates. |
· | Charges of approximately $2 million for Africa, $2 million for European Union, $42 million for Pacific, $27 million for Bottling Investments and $1 million for Corporate primarily related to restructuring costs and asset impairments. |
· | A $100 million charge for Corporate related to a donation made to The Coca-Cola Foundation. |
· | An approximate $175 million net gain for Corporate related to the sale of Coca-Cola FEMSA, S.A.B de C.V. shares. |