AC116 U4DB
silers2
ac116_c.docxAppendix C: Specimen Financial Statements: The Coca-Cola Company
The Coca-Cola Company is a global leader in the beverage industry. It offers hundreds of brands, including soft drinks, fruit juices, sports drinks and other beverages in more than 200 countries. The following are Coca-Cola’s financial statements as presented in its 2011 annual report. To access Coca-Cola’s complete annual report, including notes to the financial statements, follow these steps:
· 1. Go to www.thecoca-colacompany.com .
· 2. Select Reports & Financial Information under the Investors tab.
· 3. Select Annual & Other Reports and then 2011 Annual Report on Form 10-K.
· 4. Use the Bookmarks section on the left to find specific information. The Notes to Consolidated Financial Statements, for example, begin on page 82.
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THE COCA-COLA COMPANY AND SUBSIDIARIES |
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CONSOLIDATED STATEMENTS OF INCOME |
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Year Ended December 31, |
2011 |
2010 |
2009 |
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(In millions except per share data) |
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NET OPERATING REVENUES |
$ 46,542 |
$ 35,119 |
$ 30,990 |
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Cost of goods sold |
18,216 |
12,693 |
11,088 |
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GROSS PROFIT |
28,326 |
22,426 |
19,902 |
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Selling, general and administrative expenses |
17,440 |
13,158 |
11,358 |
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Other operating charges |
732 |
819 |
313 |
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OPERATING INCOME |
10,154 |
8,449 |
8,231 |
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Interest income |
483 |
317 |
249 |
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Interest expense |
417 |
733 |
355 |
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Equity income (loss) — net |
690 |
1,025 |
781 |
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Other income (loss) — net |
529 |
5,185 |
40 |
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INCOME BEFORE INCOME TAXES |
11,439 |
14,243 |
8,946 |
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Income taxes |
2,805 |
2,384 |
2,040 |
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CONSOLIDATED NET INCOME |
8,634 |
11,859 |
6,906 |
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Less: Net income attributable to noncontrolling interests |
62 |
50 |
82 |
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NET INCOME ATTRIBUTABLE TO SHAREOWNERS OF THE COCA-COLA COMPANY |
$8,572 |
$ 11,809 |
$6,824 |
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BASIC NET INCOME PER SHARE 1 |
$3.75 |
$5.12 |
$2.95 |
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DILUTED NET INCOME PER SHARE 1 |
$3.69 |
$5.06 |
$2.93 |
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AVERAGE SHARES OUTSTANDING |
2,284 |
2,308 |
2,314 |
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Effect of dilutive securities |
39 |
25 |
15 |
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AVERAGE SHARES OUTSTANDING ASSUMING DILUTION |
2,323 |
2,333 |
2,329 |
1
Basic net income per share and diluted net income per share are calculated based on net income attributable to shareowners of The Coca-Cola Company.
Refer to Notes to Consolidated Financial Statements.
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THE COCA-COLA COMPANY AND SUBSIDIARIES |
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CONSOLIDATED BALANCE SHEETS |
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December 31, |
2011 |
2010 |
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(In millions except par value) |
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