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)
| | 1Q05 | | 2Q05 | | 3Q05 | | 4Q05 | | | |
North America | | 0 | | 1 | | 3 | | 3 | | | |
| | | | | | | | | | | |
Africa | | 10 | | 8 | | 6 | | 1 | | | |
East, South Asia and Pacific Rim | | (4 | ) | (4 | ) | (5 | ) | (1 | ) | | |
European Union | | (4 | ) | 4 | | 1 | | (1 | ) | | |
Latin America | | 6 | | 9 | | 5 | | 5 | | | |
North Asia, Eurasia and Middle East | | 12 | | 15 | | 17 | | 17 | | | |
International Operations - Total | | 4 | | 7 | | 6 | | 4 | | | |
| | | | | | | | | | | |
Worldwide | | 3 | | 5 | | 5 | | 4 | | | |
| | | | | | | | | | | |
Bottling Investments (2) | | 12 | | 1 | | 4 | | 10 | | | |
Reported Unit Case Volume Growth Rate (3)
| | 1Q05 | | 2Q05 | | 3Q05 | | 4Q05 | | FY05 | |
North America | | (2 | ) | 1 | | 3 | | 3 | | 2 | |
| | | | | | | | | | | |
Africa | | 7 | | 8 | | 6 | | 2 | | 6 | |
East, South Asia and Pacific Rim | | (6 | ) | (4 | ) | (5 | ) | 1 | | (4 | ) |
European Union | | (6 | ) | 4 | | 1 | | 0 | | 0 | |
Latin America | | 4 | | 9 | | 5 | | 6 | | 6 | |
North Asia, Eurasia and Middle East | | 9 | | 15 | | 17 | | 18 | | 15 | |
International Operations - Total | | 1 | | 7 | | 6 | | 6 | | 5 | |
| | | | | | | | | | | |
Worldwide | | 0 | | 5 | | 5 | | 5 | | 4 | |
| | | | | | | | | | | |
Bottling Investments (2) | | 9 | | 1 | | 4 | | 11 | | 6 | |
Gallon Sales Growth Rate (4)
| | 1Q05 | | 2Q05 | | 3Q05 | | 4Q05 | | FY05 | |
North America | | (2 | ) | (2 | ) | 4 | | 2 | | 1 | |
| | | | | | | | | | | |
Africa | | 5 | | 11 | | 7 | | 4 | | 7 | |
East, South Asia and Pacific Rim | | (9 | ) | (8 | ) | (5 | ) | (1 | ) | (6 | ) |
European Union | | (9 | ) | 1 | | (1 | ) | 8 | | 0 | |
Latin America | | 8 | | 11 | | 7 | | 9 | | 9 | |
North Asia, Eurasia and Middle East | | 13 | | 6 | | 12 | | 12 | | 10 | |
International Operations - Total | | 2 | | 5 | | 5 | | 8 | | 5 | |
| | | | | | | | | | | |
Worldwide | | 0 | | 2 | | 5 | | 4 | | 3 | |
| | | | | | | | | | | |
Bottling Investments | | N/A | | N/A | | N/A | | N/A | | N/A | |
Reclassified Operating Segment Data reflect changes in the Company’s operating structure which became effective January 1, 2006.
For additional information about our sales volume, refer to page 41 of our 2005 Annual Report on Form 10-K filed on February 28, 2006.
(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) Bottling Investments segment data reflect unit case volume growth for consolidated bottling operations only. Geographic segment data reflect unit case volume growth for all bottlers in the applicable geographic areas, both consolidated and unconsolidated.
(3) Reported unit case volume growth is computed by comparing the actual unit cases shipped in the period to the actual unit cases shipped in the prior-year corresponding period. In the first quarter of 2005 these amounts are less than the amounts computed on an average daily sales basis because of two fewer shipping days in the first quarter of 2005 as compared to the first quarter of 2004. This difference in days was partially offset in the fourth quarter of 2005.
(4) 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
| | 1Q04 | | 2Q04 | | 3Q04 | | 4Q04 | | FY04 | | 1Q05 | | 2Q05 | | 3Q05 | | 4Q05 | | FY05 | |
Net Operating Revenues - Third Party | | | | | | | | | | | | | | | | | | | | | |
North America | | $ | 1,544 | | $ | 1,753 | | $ | 1,617 | | $ | 1,509 | | $ | 6,423 | | $ | 1,528 | | $ | 1,775 | | $ | 1,745 | | $ | 1,628 | | $ | 6,676 | |
Africa | | 224 | | 195 | | 235 | | 307 | | 961 | | 266 | | 230 | | 257 | | 354 | | 1,107 | |
East, South Asia and Pacific Rim | | 171 | | 197 | | 171 | | 167 | | 706 | | 164 | | 193 | | 180 | | 182 | | 719 | |
European Union | | 881 | | 1,078 | | 1,028 | | 926 | | 3,913 | | 888 | | 1,207 | | 1,118 | | 891 | | 4,104 | |
Latin America | | 427 | | 434 | | 443 | | 474 | | 1,778 | | 477 | | 506 | | 527 | | 554 | | 2,064 | |
North Asia, Eurasia and Middle East | | 836 | | 1,069 | | 1,069 | | 911 | | 3,885 | | 902 | | 1,146 | | 1,088 | | 953 | | 4,089 | |
Bottling Investments | | 924 | | 1,161 | | 1,003 | | 887 | | 3,975 | | 960 | | 1,228 | | 1,103 | | 971 | | 4,262 | |
Corporate | | 21 | | 27 | | 30 | | 23 | | 101 | | 21 | | 25 | | 19 | | 18 | | 83 | |
| | $ | 5,028 | | $ | 5,914 | | $ | 5,596 | | $ | 5,204 | | $ | 21,742 | | $ | 5,206 | | $ | 6,310 | | $ | 6,037 | | $ | 5,551 | | $ | 23,104 | |
| | | | | | | | | | | | | | | | | | | | | |
Net Operating Revenues - Intersegment | | | | | | | | | | | | | | | | | | | | | |
North America | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | | $ | — | |
Africa | | — | | 3 | | 4 | | 3 | | 10 | | 2 | | 4 | | 5 | | 2 | | 13 | |
East, South Asia and Pacific Rim | | 28 | | 34 | | 18 | | 29 | | 109 | | 22 | | 21 | | 9 | | 8 | | 60 | |
European Union | | 209 | | 227 | | 178 | | 159 | | 773 | | 211 | | 225 | | 196 | | 175 | | 807 | |
Latin America | | 15 | | 16 | | 16 | | 22 | | 69 | | 18 | | 19 | | 20 | | 37 | | 94 | |
North Asia, Eurasia and Middle East | | 13 | | 35 | | 25 | | 23 | | 96 | | 30 | | 46 | | 30 | | 24 | | 130 | |
| | $ | 265 | | $ | 315 | | $ | 241 | | $ | 236 | | $ | 1,057 | | $ | 283 | | $ | 315 | | $ | 260 | | $ | 246 | | $ | 1,104 | |
| | | | | | | | | | | | | | | | | | | | | |
Net Operating Revenues - Total | | | | | | | | | | | | | | | | | | | | | |
North America | | $ | 1,544 | | $ | 1,753 | | $ | 1,617 | | $ | 1,509 | | $ | 6,423 | | $ | 1,528 | | $ | 1,775 | | $ | 1,745 | | $ | 1,628 | | $ | 6,676 | |
Africa | | 224 | | 198 | | 239 | | 310 | | 971 | | 268 | | 234 | | 262 | | 356 | | 1,120 | |
East, South Asia and Pacific Rim | | 199 | | 231 | | 189 | | 196 | | 815 | | 186 | | 214 | | 189 | | 190 | | 779 | |
European Union | | 1,090 | | 1,305 | | 1,206 | | 1,085 | | 4,686 | | 1,099 | | 1,432 | | 1,314 | | 1,066 | | 4,911 | |
Latin America | | 442 | | 450 | | 459 | | 496 | | 1,847 | | 495 | | 525 | | 547 | | 591 | | 2,158 | |
North Asia, Eurasia and Middle East | | 849 | | 1,104 | | 1,094 | | 934 | | 3,981 | | 932 | | 1,192 | | 1,118 | | 977 | | 4,219 | |
Bottling Investments | | 924 | | 1,161 | | 1,003 | | 887 | | 3,975 | | 960 | | 1,228 | | 1,103 | | 971 | | 4,262 | |
Corporate | | 21 | | 27 | | 30 | | 23 | | 101 | | 21 | | 25 | | 19 | | 18 | | 83 | |
Eliminations | | (265 | ) | (315 | ) | (241 | ) | (236 | ) | (1,057 | ) | (283 | ) | (315 | ) | (260 | ) | (246 | ) | (1,104 | ) |
| | $ | 5,028 | | $ | 5,914 | | $ | 5,596 | | $ | 5,204 | | $ | 21,742 | | $ | 5,206 | | $ | 6,310 | | $ | 6,037 | | $ | 5,551 | | $ | 23,104 | |
| | | | | | | | | | | | | | | | | | | | | |
Operating Income (Loss) | | | | | | | | | | | | | | | | | | | | | |
North America | | $ | 353 | | $ | 496 | | $ | 377 | | $ | 380 | | $ | 1,606 | | $ | 313 | | $ | 460 | | $ | 414 | | $ | 366 | | $ | 1,553 | |
Africa | | 82 | | 72 | | 76 | | 106 | | 336 | | 90 | | 75 | | 96 | | 135 | | 396 | |
East, South Asia and Pacific Rim | | 112 | | 134 | | 108 | | 85 | | 439 | | 88 | | 113 | | 8 | | 75 | | 284 | |
European Union | | 526 | | 597 | | 497 | | 506 | | 2,126 | | 512 | | 685 | | 564 | | 458 | | 2,219 | |
Latin America | | 256 | | 255 | | 262 | | 280 | | 1,053 | | 277 | | 299 | | 297 | | 303 | | 1,176 | |
North Asia, Eurasia and Middle East | | 374 | | 505 | | 427 | | 365 | | 1,671 | | 409 | | 532 | | 375 | | 419 | | 1,735 | |
Bottling Investments | | (4 | ) | 37 | | (380 | ) | (107 | ) | (454 | ) | (55 | ) | 53 | | 5 | | (40 | ) | (37 | ) |
Corporate | | (248 | ) | (293 | ) | (270 | ) | (268 | ) | (1,079 | ) | (275 | ) | (245 | ) | (267 | ) | (454 | ) | (1,241 | ) |
| | $ | 1,451 | | $ | 1,803 | | $ | 1,097 | | $ | 1,347 | | $ | 5,698 | | $ | 1,359 | | $ | 1,972 | | $ | 1,492 | | $ | 1,262 | | $ | 6,085 | |
| | | | | | | | | | | | | | | | | | | | | |
Income (Loss) Before Income Taxes | | | | | | | | | | | | | | | | | | | | | |
North America | | $ | 354 | | $ | 494 | | $ | 375 | | $ | 392 | | $ | 1,615 | | $ | 315 | | $ | 459 | | $ | 408 | | $ | 367 | | $ | 1,549 | |
Africa | | 79 | | 68 | | 74 | | 101 | | 322 | | 86 | | 73 | | 93 | | 130 | | 382 | |
East, South Asia and Pacific Rim | | 112 | | 134 | | 108 | | 86 | | 440 | | 88 | | 113 | | 8 | | 74 | | 283 | |
European Union | | 526 | | 599 | | 496 | | 504 | | 2,125 | | 514 | | 685 | | 566 | | 460 | | 2,225 | |
Latin America | | 262 | | 256 | | 261 | | 280 | | 1,059 | | 276 | | 298 | | 298 | | 303 | | 1,175 | |
North Asia, Eurasia and Middle East | | 374 | | 503 | | 427 | | 363 | | 1,667 | | 406 | | 537 | | 380 | | 425 | | 1,748 | |
Bottling Investments | | 79 | | 244 | | (204 | ) | 12 | | 131 | | 34 | | 299 | | 182 | | 75 | | 590 | |
Corporate | | (274 | ) | (245 | ) | (302 | ) | (316 | ) | (1,137 | ) | (271 | ) | (248 | ) | (282 | ) | (461 | ) | (1,262 | ) |
| | $ | 1,512 | | $ | 2,053 | | $ | 1,235 | | $ | 1,422 | | $ | 6,222 | | $ | 1,448 | | $ | 2,216 | | $ | 1,653 | | $ | 1,373 | | $ | 6,690 | |
Reclassified Operating Segment Data reflect changes in the Company’s operating structure which became effective January 1, 2006.
(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
2004
In the second quarter of 2004, the Company recorded the following transactions which impacted results:
• An approximate $37 million benefit to equity income for Bottling Investments as a result of a favorable tax settlement related to Coca-Cola FEMSA, one of our equity method investees.
• Impairment charges of approximately $18 million for North America, $12 million for Bottling Investments and $58 million for Corporate, primarily related to write-downs of certain manufacturing investments and an intangible asset.
• Approximately $49 million for Corporate of noncash pretax gains on issuances of stock by Coca-Cola Enterprises Inc. (CCE), one of our equity method investees.
In the third quarter of 2004, the Company recorded the following transactions which impacted results:
• Impairment charges of approximately $386 million for Bottling Investments primarily related to franchise rights at Coca-Cola Erfrischungsgetraenke AG (CCEAG) and $6 million for Corporate.
In the fourth quarter of 2004, the Company recorded the following transactions which impacted results:
• The receipt of $75 million for Corporate for an insurance settlement related to the class action lawsuit settled in 2000. The Company subsequently donated $75 million to The Coca-Cola Foundation.
• Approximately $25 million for Corporate of noncash pretax losses to adjust the amount of the gain recognized in the second quarter of 2004 on issuances of stock by CCE.
2005
In the first quarter of 2005, the Company recorded the following transactions which impacted results:
• Approximately $23 million for Corporate due to noncash pretax gains on issuances of stock primarily by Coca-Cola Amatil, one of our equity method investees.
• Approximately $12 million for North America, $3 million for Africa, $3 million for East, South Asia and Pacific Rim, $3 million for European Union, $4 million for Latin America, $3 million for North Asia, Eurasia and Middle East 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 to equity income for Bottling Investments for our proportionate share of CCE’s HFCS lawsuit settlement.
In the third quarter of 2005, the Company recorded the following transactions which impacted results:
• Impairment charges of approximately $85 million for East, South Asia and Pacific Rim and approximately $4 million for Bottling Investments, primarily related to intangible assets (mainly trademark beverages sold in the Philippines market).
• An approximate $5 million reduction to equity income for Bottling Investments due to a noncash pretax charge 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 reduction to equity income for Bottling Investments due to our proportionate share of CCE’s tax expense related to repatriation of previously unremitted foreign earnings under the American Jobs Creation Act 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.
