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 |
| ||
|
| 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.