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COMPANY PROFILE

The Coca-Cola
Company

REFERENCE CODE: 37CB5616-D04E-49EE-9F5C-FFE75047D6FF


PUBLICATION DATE: 08 Apr 2016
www.marketline.com
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The Coca-Cola Company
TABLE OF CONTENTS

TABLE OF CONTENTS

Company Overview ........................................................................................................3


Key Facts ......................................................................................................................... 3
Business Description .....................................................................................................4
History ............................................................................................................................. 6
Key Employees .............................................................................................................15
Key Employee Biographies .........................................................................................17
Major Products & Services ..........................................................................................21
SWOT Analysis .............................................................................................................23
Top Competitors ...........................................................................................................28
Company View ..............................................................................................................29
Locations And Subsidaries .........................................................................................35
Financial Overview .......................................................................................................42

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The Coca-Cola Company
Company Overview

Company Overview

COMPANY OVERVIEW
The Coca-Cola Company (Coca-Cola) is a manufacturer, distributor and marketer of non-alcoholic
beverages. The company offers sparkling beverages and a variety of still beverages including juices and
juice drinks, waters, enhanced waters, ready-to-drink teas and coffees, and energy and sports drinks.
Coca-Cola sells its beverages under various brands such as Sprite, Coca-Cola Zero, Diet Coke, Fanta,
vitaminwater, POWERADE, Dasani, FUZE TEA, Minute Maid, Simply, Georgia, and Del Valle. The
company sells its finished beverage products to distributors and beverage concentrates and syrups to
bottling and canning operators, fountain wholesalers, and fountain retailers worldwide. Coca-Cola is
headquartered in Atlanta, Georgia, the US.

The company reported revenues of (US Dollars) US$44,294 million for the fiscal year ended December
2015 (FY2015), a decrease of 3.7% over FY2014. In FY2015, the companys operating margin was
19.7%, compared to an operating margin of 21% in FY2014. In FY2015, the company recorded a net
margin of 16.6%, compared to a net margin of 15.4% in FY2014.

The company reported revenues of US$11,539.0 million for the third quarter ended July 2016, an
increase of 12.2% over the previous quarter.
Key Facts

KEY FACTS

Head Office The Coca-Cola Company


One Coca-Cola Plaza
Atlanta
Georgia
Atlanta
Georgia
USA
Phone 1 404 6762121
Fax 1 404 6766792
Web Address www.coca-colacompany.com
Revenue / turnover (USD Mn) 44,294.0
Financial Year End December
Employees 123,200
New York Stock Exchange Ticker KO

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The Coca-Cola Company
Business Description

Business Description

BUSINESS DESCRIPTION
Coca-Cola manufactures, distributes and markets non-alcoholic beverages.

The companys offerings are classified into two categories: Beverage Concentrates and Finished
Products.

Coca-Cola offers Finished Products under two sub-categories: Sparkling Beverages and Still Beverages.
Its sparkling Beverages portfolio includes non-alcoholic ready-to-drink beverages with carbonation such
as energy drinks, carbonated waters and flavored waters while Still Beverages portfolio includes non-
alcoholic beverages without carbonation such as non-carbonated waters, flavored and enhanced waters,
juices and juice drinks, ready to drink teas, coffees and sports drinks. In FY2015, the company generated
63% of revenue from Finished Products operations.

Under the Beverage Concentrates category, Coca-cola offers syrups, fountain syrups, and concentrates,
such as flavoring ingredients and sweeteners to authorized bottling and canning operations. In FY2015,
the company generated 37% of revenue from beverage concentrates.

Coca-Cola has a product portfolio of over 3,800 beverages including 1,100 low- and no-calorie products
that are marketed under 500 brands. The companys most popular sparkling beverage products are
offered under Coca-Cola, Sprite, Diet Coke or Coca-Cola Light, Fanta Orange, Fanta Zero Orange, Fanta
Apple, Cherry Coke, Coca-Cola Zero or Coke Zero, Schweppes, Sprite, Diet Sprite, Sprite Zero and
Sprite Light brands.

Under Still Beverages, the companys widely accepted juices and juice drinks are offered under Del Valle,
Dobriy, Simply, Minute Maid Pulpy and Minute Maid brands. Its iced coffee and tea drinks include Nestea
teas, Georgia coffees and Dogadan teas.

Its popular brands of bottled water include Ciel, Dasani, Glaceau smartwater, Bonaqua or Bonaqa, Ice
Dew, Kinley, and Glacau Smartwater. Its energy drinks brands include Burn, Relentless, NOS and Full
Throttle. The company offers sports drinks under Powerade and Aquarius brands. Other still beverages of
the company are offered under Glaceau Vitaminwater and FUZE.

The company sells purified water products such as Dasani to authorized bottling operations. It
manufactures fountain syrups and sells them to authorized fountain wholesalers and some fountain
retailers such as restaurants and convenience stores.
Coca-Cola offers its products globally through a diversified network of the company-owned or controlled
bottling and distribution operations, bottling partners, distributors, wholesalers and retailers.

In North America, the company owns and operates 63 beverage production facilities, ten principal
beverage concentrate and syrup manufacturing plants, one juice concentrates facility for foodservice, two
bottled water facilities and one container manufacturing facility. It also leases one beverage production
facility, one bottled water facility and four container manufacturing facilities. The company operates 224
principal beverage distribution warehouses, of which, 80 are leased. Coca-Cola also operates 18
beverage concentrate manufacturing plants - three in Eurasia and Africa, three in Europe, five in Latin

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The Coca-Cola Company
Business Description

America, and seven in Pacific regions. It also operates 76 principal beverage bottling and canning plants
worldwide.

Coca-Cola classifies its operations into seven reportable segments: Eurasia and Africa, Europe, Latin
America, North America, Asia Pacific, Bottling Investments and Corporate. In FY2015, North America
segment accounted for 49.2% of the net operating revenue, followed by Bottling Investments (15.1%),
Asia Pacific (10.6%), Europe (10.3%), Latin America (9%), Eurasia and Africa (5.5%), and Corporate
(0.3%).

In FY2015, the Coca-Cola system sold 29.2 billion unit cases of its products. Sparkling beverages and
Coca-Cola Beverages represented 73% and 46% of the worldwide unit case volume in FY2015.

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The Coca-Cola Company
History

History

HISTORY
The Coca-Cola Company was founded as a soda fountain beverage in Atlanta, Georgia.

The company began selling bottled Coca-Cola using a common glass bottle called a Hutchinson.

The company opened first bottling plant in Chattanooga, the US.

Independent bottlers had already begun producing Coca-Cola from concentrated syrup which permitted
TCCC to expand its production and sales. The product was being distributed throughout the US, with
exports to Canada and Mexico.

The company was incorporated.

The company established first manufacturing and bottling plant in Italy.

The company entered Germany, starting production in Essen in April.

Coca-Cola established first production plant for in Australia.

Robert Woodruff, Coca-Colas President gives the order that every man in uniform gets a bottle of
Coca-Cola for 5 cents, wherever he is and whatever it costs to the company.

The company entered Brazil.

The company launched the Fanta brand.

The company subsidiary, Nihon Inryo Kogyo KK established in Japan , and subsequently renamed as
Coca-Cola (Japan) Co Ltd.

The company acquired Minute Maid.

The company launched Sprite brand.

The company launched Tab brand.

The company introduced Fresca brand.

The company launched two brands Mr. Pibb and Mello Yello.

TCCC established its presence as the first international soft drinks company in China.

The company launched Diet Coke and Cherry Coke.

TCCC and San Miguel establish a joint venture in the Philippines, Coca-Cola Bottler Philippines Inc

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The Coca-Cola Company
History

(CCBPI)

Two of the largest USA bottlers merged to form Coca-Cola Enterprises (CCE). CCE became the first of
several anchor bottlers within the Coca-Cola global network.

Coca-Cola Femsa founded.

The company launched the Powerade sports drink and Dasani still drink brands.

The company introduced the first bottles made partially with recycled plastic, an innovation for the
industry.

The company began the production and marketing of Nestea iced/rtd tea drinks under the Beverage
Partners Worldwide (BPW) joint venture with Nestl.

TCCC re-entered India after a gap of sixteen years, and has since been progressively acquiring its local
bottlers.

TCCC acquired 51% of Coca-Cola Femsa, subsequently increasing its share and completing the
acquisition in 1997.

PT Coca-Cola Indonesia formed with 100% investment by TCCC.

CCE acquired Cadbury Schweppes 51% share in CCSB.

Cadbury Schweppes announced that it was to sell its soft drinks brands outside the US, South Africa and
France to TCCC.

The company added Dasani, a bottled water product, to its brand portfolio.

Cadbury Schweppes revised deal to sell its soft drinks brands outside the USA, South Africa and France
to TCCC. It opted to retain control of its soft drinks brands in 20 European markets due to concerns
regarding winning the approval of the European regulators.

TCCC acquired Odwalla Inc, a producer of super-premium juice and smoothies under the Odwalla and
Fresh Samanthas brands.

TCCC and Coca-Cola Hellenic Bottling Company (CCHBC) acquired the Valser Mineralquellen AG
mineral water springs in Switzerland and associated brands from The Hess Group.

TCCC and Coca-Hellenic Bottling Company (CCHBC) acquired the majority share in Dorna Apemin in
Romania.

TCCC and CCHBC acquired Multivita Sp z.o.o, a packaged water producer in Poland from Maspex in Q3.

TCCC and Coca-Cola Hellenic Bottling Company (CCHBC) acquired Gotalka in Croatia, a packaged

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History

water producer.

TCCC took a majority share in the packaged water producer, PT AdeS Alfindo, in Indonesia.

TCCC and Coca-Cola Hellenic Bottling Company (CCHBC) acquired Multon Z.A.O Group in Russia, a
leading Russian juice company.

TCCC and Coca-Cola Hellenic Bottling Company (CCHBC) acquired Vlasinka d.o.o. in Serbia a
packaged water producer.

TCCC and Coca-Cola Hellenic Bottling Company (CCHBC) acquired Bankya Mineral Waters Bottling
Company E.O.O.D. in Bulgaria.

The company acquired Apollinaris GmbH, a mineral water brand in Germany.

The company acquired Fonti del Vulture S.r.l., a mineral water company in Italy.

TCCC and Coca-Cola Hellenic Bottling Company (CCHBC) acquired Fresh & Co, a producer of juice and
nectars in Serbia.

The company added Enviga and Gold Peak iced/rtd tea drinks to its portfolio.

The company signed a five year beverage contract with Baja Fresh. Under the terms of the agreement,
Coca-Cola Foodservice and Hospitality, the segment of Coca-Cola North America that serves the
restaurant and foodservice industry, would be the beverage provider for Baja Fresh, supplying soft drinks.

TCCC took over full management control of Coca-Cola Bottlers Philippines Inc (CCBPI) with the take over
of San Miguels 65% stake.

The company acquired Fuze Beverages, producers of premium still drinks, iced/rtd tea drinks and energy
drinks.

The company acquired Energy Brands Inc, the producer of the Glaceau Vitaminwater and Smartwater
brands.

TCCC and Coca-Cola Femsa jointly acquired 100% of Jugos Del Valle, one of Mexicos top producers of
juice and nectars, a major juice producer in Brazil and a leading supplier of nectars in the USA.

The company acquired the mineral water brands of Carlsberg Group Beverages.

The company entered into an agreement with Hansen Natural (now Monster Beverage Corporation) for
the distribution of Monster Energy beverages in Canada, the USA and six West European countries.

TCCC acquired 40% of Honest Tea, an organic iced/rtd tea drinks producer.

TCCC, Coca-Cola Hellenic Bottling Company (CCHBC) and illycaffe Spa entered into a joint venture, Ilko

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History

Coffee International to produce, market and distribute premium iced/rtd coffee drinks.

The company launched a new plastic bottle,PlantBottle,which is made from plant materials. This product
is fully recyclable and reduces carbon emissions, compared with petroleum-based PET plastic bottles.

The company launched a comprehensive greening of the NATION'S CAPITAL to decrease the Coca-Cola
system's environmental footprint at each step in the manufacturing, distribution and sales processes.

TCCC acquired a minority stake in Zico Beverages, producers of Zico Pure Premium Coconut Water.

TCCC and Coca-Cola Femsa announced the acquisition of the Brisa bottled water business from Bavaria
(a subsidiary of SABMiller).

TCCC acquired a minority stake in UK smoothie company, Innocent Drinks.

The company and Chromocell Corporation, a company focused on using proprietary technologies to
discover and develop novel flavor ingredients for the food, beverage, and ingredient supply industries,
announced that they are collaborating on flavor innovation research.

The company acquired the North American operations of Coca-Cola Enterprises Inc.

The company announced that it has entered into an agreement with Dr Pepper Snapple Group, Inc. to
distribute certain DPS brands, subject to the completion of The Coca-Cola Company`s acquisition of
CCE`s North American bottling business.

The company acquired 100% of Nidan Soki, one of Russias major juice producers in September.

The Coca-Cola signed a additional joint investment agreement of US$12.7 million in the global
partnership with the USA Agency for International Development (USAID).

The company announced that it had entered into an agreement with Senomyx Inc. for the potential
continuation and expansion of a collaborative research program related to the discovery and
commercialization of new flavour ingredients resulting from Senomyx Inc.'s sweet taste technology.

The company announced that it had entered into an agreement with Dr Pepper Snapple Group, Inc. to
distribute certain DPS brands, subject to the completion of The Coca-Cola Company`s acquisition of
CCE`s North American bottling business.

Coca-Cola China launched an eco-friendly light weight bottle for its drinking water brand, Ice Dew.

The company announced the opening and near completion of three new bottling plants in China worth a
combined RMB1.6 billion (US$240 million), continuing its expansion in beverage markets.

The company and Dia de la Mujer Latina, Inc. (DML) announced that they had teamed up to bring the
first-ever Health Fiesta to Los Angeles, featuring free health and wellness screenings, fitness training and
nutrition counseling in a fun, interactive environment.

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History

TCCC sold its interests in Coca-Cola Drikker AS (its Norwegian bottling operation) and Coca-Cola
Drycker Sverige AB (its Swedish bottling operation) to CCE,

In October, TCCC combined all of its North American supply chain operations, including the Minute Maid
and Odwalla juice businesses and company-owned bottling operations in Philadelphia into a unified
bottling and customer service organization called Coca-Cola Refreshements.

The company and H.J. Heinz Company announced a strategic partnership that would enable Heinz to
produce its ketchup bottles using Coca-Cola's PlantBottle packaging.

The company announced partnership agreements with three biotechnology companies, namely, Virent,
Gevo and Avantium, to enhance the development of commercial solutions for PlantBottle packaging to be
made 100% from plant-based materials.

In December, the company moved the secret formula for Coca-Cola to a new home at the World of Coca-
Cola in Atlanta.

Coca-Cola exercised its option to acquire the remaining 60% in Honest Tea.

The companys Coca-Cola system announced to invest US$2 billion in India would invest for capturing
the significant growth potential in nonalcoholic ready-to-drink (NARTD) beverage market.

Coca-Cola's Brazilian Depositary Receipts (BDRs) Level I began trading on the BM&FBovespa's
(Bovespa) over-the-counter (OTC) market.

TCCC acquired Great Plains Coca-Cola Bottling Company (Great Plains), an independent Coca-Cola
bottler in the US for approximately US$360 million.

Coca-Cola and its Chinese bottling partners announced an investment of $4 billion for long-term
sustainable growth in China for the next three years, beginning 2012.

The companys Coca-Cola Central Japan Co., Ltd. announced its intention to form a business and capital
alliance with The Coca-Cola Company. The business alliance would enable the two companies to
collaborate in the planning, implementation and promotion of business strategy of Coca-Cola Central
Japan; while the capital alliance, would allow Coca-Cola to acquire a 27.77% share of voting rights in
Coca-Cola Central Japan through its subsidiary, European Refreshments.

TCCC announced its first billion dollar brand from an emerging market - Minute Maid Pulpy. For the first
time a Coca-Cola brand developed and launched in an emerging market reached the billion dollar league.

TCCC and Coca-Cola Femsa announced the acquisition of dairy group (Estrella Azul and El Prado) in
Panama, a producer of dairy products, juice and soft drinks

The company entered into a multi-billion partnership with biotechnology companies the development of
commercial solutions for PlantBottle packaging made from plant-based materials.

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History

The company signed a product marketing agreement with Dunkin' Brands Group Inc.

The company acquired ownership interest in maker of the core power protein drink known as Fair Oaks
Farms Brands LLC.

The company extended its partnership with Six Flags Entertainment Corp to expand the Coca-Cola
Freestyle Zone.

The company announced a partnership with Spotify giving consumers access to the music.

The company collaborated with Ford Motor Company, H.J. Heinz Company, NIKE, Inc. and Procter &
Gamble, for the formation of the Plant PET Technology Collaborative working group for the use of plant-
based PET materials and fiber in their products.

The company acquired 50% of Aujan Industries beverage business. Aujan is one of the largest
independent bottling companies in the Middle East.

The company and Sanofi SA, France entered in to a partnership for the launch of drinks carrying well-
being and beauty claims.

PureCircle Ltd entered in to two agreements with TCCC for the investigation and development of a Stevia
sweetener product.

The U.S. appeals court revived part of a lawsuit against the company by POM Wonderful LLC.

The company and Select Milk Producers partnered to acquire equity stakes in the producer of the Core
Power protein drink,Fair Oaks Farms Brands LLC.

The company and Coca-Cola Hellenic Bottling Company (CCHBC) announced plans to invest over US$3
billion over the next five years in Russia.

In January, the company acquired Sacramento Coca-Cola Bottling Company.

The company inaugurated 43rd plant in China in Shijiazhuang, Hebei.

The company inaugurated a new bottling line in Ploiesti, Romania.

The company acquired the outstanding ownership stake in Zico Beverages LLC, the premium coconut
water producer.

The company partnered with XL Hybrids to convert its newly purchased 2014 Chevrolet Express service
vans into fuel-efficient hybrid-electric vehicles using powertrain technology.

The company took full control of Innocent Drinks, the UK smoothie maker.

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The company debuted Coca-Cola Life, sweetened with stevia, in Argentina.

The company launched Powerade Zero Drops liquid water enhancer.

The company established a bottling plant in Myanmar with an investment of US$200 million. For the first
in 60 years Coca-Cola began to be bottled in Myanmar.

The company partnered with Gevo to deliver a new production technology for renewable paraxylene.

The company announced a planned US$4 billion investment in China 2015-2017.

The company and California Pizza Kitchen, Inc., entered into a multi-year product and marketing
agreement to serve Coca-Cola products at 202 restaurants in the US.

The company entered into a partnership with Green Mountain Coffee Roasters, Inc., to launch Keurigs
New Cold Beverage Platform.

The company acquired minority stake In WaterHealth International.

The company acquired an additional 6% stake in Keurig Green Mountain for US$1.03 billion.

The company launched Minute Maid Drops, a liquid water enhancer containing real fruit juice.

The company announced a plan to invest more than US$8.2 billion in Mexico.

The companys Indian bottling partner, Hindustan Coca-Cola Beverages, announced a plan to establish a
new bottling plant in Telangana, with an investment of about US$164 million.

The company signed a long term strategic partnership agreement to purchase 16.7% equity stake in
Monster Beverage Corporation.

The company introduced a mid-calorie soda product called Coca-Cola Life in Mexico.

The company acquired Tonicorp, a dairy product manufacturer.

TCCC announced that it is to invest US$5 million in Egypt over the next five years.

The company launched Coca-Cola Life brand in the UK and Sweden markets.

The company acquired 16.7% stake in Monster Beverage Corp, a producer of Monster energy drink for
US$2 billion.

The company signed an agreement to acquire a 29.4% ordinary equity ownership stake in Coca-Cola
Amatil's division CCA Indonesia (CCAI) for US$500 million.

The company selected Great Lakes Coca-Cola Distribution, LLC, a subsidiary of Reyes Holdings, LLC, as

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History

partner to distribute its products in the greater Chicago area.

The company along with SABMiller Africa and Gutsche Family Investments announced a plan to combine
the bottling operations of non-alcoholic ready-to-drink beverages businesses in Southern and East Africa.

The company granted distribution rights to Great Lakes Coca-Cola Distribution, L.L.C., to supply its
beverages in Chicago area.

The company signed a agreement with Coca-Cola Bottling Consolidated to provide its distribution
services in Cleveland and Cookeville,Tennessee, the US.

The company entered into an agreement with The Kiwanis Club of Little Havana to share Calle Ocho
stage with South Florida Bands.

The company announced a plan to build a plant in Gaza.

The company entered into an agreement with Baku 2015 European Games to serve as an Official Partner
for inaugural event.

The company announced its plan to redesign the packaging of its flavors in Europe.

The company selected Ardagh Group to manufacture a special limited edition 25cl aluminium bottle.

The company launched new packaging graphics for its core trademark brands, Coca-Cola, Coke Zero,
Diet Coke/Coke Light and Coca-Cola Life.

The company and will.i.am, a music artist and entrepreneur entered into a partnership with W Hotels
Worldwide, part of Starwood Hotels & Resorts Worldwide, Inc., to introduce EKOCYCLE brand.

The company announced its plans to acquire 100% stake in Xiamen Culiangwang Beverage Technology
Co Ltd, a producer of plant-based protein drinks sold in China.

The company entered into a definitive agreement with Great Lakes Coca-Cola Distribution, L.L.C. and
Coca-Cola Beverages Florida for the granting of new distribution territory.

The company entered into a technology development agreement with Liquid Light Corporation to
accelerate its PlantBottle Packaging Program.

The company's subsidiary, Coca-Cola Erfrischungsgetranke AG agreed with Coca-Cola Enterprises, Inc.,
and Coca-Cola Iberian Partners SA to establish a new firm called Coca-Cola European Partners Plc.

The company sets plans to acquire minority stake in Suja Life LLC, a maker of organic, cold-pressed
juices.

The company announced to construct a production facility in Hebei Province, China.

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The company's subsidiary Coca-Cola Refreshments announced to sell its nine bottling facilities to Coca-
Cola's bottlers for US$380 million.

The company signed a letter of intent with the Coca-Cola bottlers, to form a new National Product Supply
System in the US.

The company's partner Leao Alimentos e Bebidas entered into an agreement to acquire Laticnios Verde
Campo, a dairy company.

The company and Coca-Cola Amatil invested US$500 million to expand the Coca-Cola Amatil Indonesia
Cikekodan Plant in Bekasi, West Java, Indonesia.

The company signed an agreement with Tropical General Investments Group (TGI Group), to acquire
40% stake in TGI Group's subsidiary Chi Ltd, a dairy and juice company in Nigeria.

The company signed a Letters Of Intent (LOI) with three U.S. bottlers to grant expanded distribution
territories for bottlers in North America.

The company planned to construct a new eco-friendly plant in Kunming City, Yunnan Province, China for
US$185 million.

The company and Coca-Cola FEMSA sets plans to acquire AdeS soy beverage business from Unilever.

The company launched a limited-edition Share a Coke and a Song packaging, in partnership with USO.

The company acquired a minority equity stake in California-based aloe water beverage firm Aloe Gloe.

The company announced plans to acquire Anheuser-Busch InBev's stake in Coca-Cola Beverages Africa.

The company entered into an agreement with Swire Coca-Cola, USA

In December, the company entered into an agreement to buy Anheuser-Busch InBev's stake in African
bottling venture, for US$3.15 billion.

In November, the company and National Beverage Company opened the first Coca-Cola bottling plant in
Gaza.

In November, the company announced the opening of a new bottling plant in Gaza, Palestine.

In January, The company's International Beverages Private Limited inaugurated a new plant in
Bangladesh.

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The Coca-Cola Company
Key Employees

Key Employees

KEY EMPLOYEES

Name Job Title Board


Muhtar Kent Chairman, Chief Executive Officer Executive Board
Alexis M. Herman Director Non Executive Board
Ana Botin Director Non Executive Board
Barry Diller Director Non Executive Board
David B. Weinberg Director Non Executive Board
Helene D. Gayle Director Non Executive Board
Herbert A. Allen Director Non Executive Board
Howard G. Buffett Director Non Executive Board
Marc Bolland Director Non Executive Board
Maria Elena Lagomasino Director Non Executive Board
Richard M. Daley Director Non Executive Board
Robert A. Kotick Director Non Executive Board
Ronald W. Allen Director Non Executive Board
Samuel Nunn Director Non Executive Board
Ahmet C. Bozer Executive Vice President, President-Coca- Senior Management
Cola International
Atul Singh President-Asia Pacific Group Senior Management
Bernhard Goepelt General Counsel, Chief Legal Counsel, Senior Management
Senior Vice President
Brent Hastie Senior Vice President-Strategy and Senior Management
Planning
Brian J. Smith President-Latin America Group Senior Management
Ceree T. Eberly Chief People Officer, Senior Vice President Senior Management
Clyde C. Tuggle Chief Public Affairs and Communications Senior Management
Officer, Senior Vice President
Ed Hay Chief Technical Officer, Senior Vice Senior Management
President
Ed Steinike Chief Information Officer, Senior Vice Senior Management
President
Helen Smith Price Vice President-Global Community Affairs Senior Management
Irial Finan Executive Vice President, President- Senior Management
Bottling Investments and Supply Chain
J. Alexander M. Douglas, Jr. Executive Vice President, President-Coca- Senior Management
Cola North America
James Quincey Chief Operating Officer, President Senior Management
Julie Hamilton Chief Customer and Commercial Senior Management
Leadership Officer, Senior Vice President

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Key Employees

Kathy N. Waller Chief Financial Officer, Executive Vice Senior Management


President
Marcos de Quinto Chief Marketing Officer, Executive Vice Senior Management
President
Nathan Kalumbu President-Eurasia and Africa Group Senior Management
Barry Simpson Chief Information Officer, Senior Vice Executive Board, Senior
President Management
Robert Long Senior Vice President-Research and Senior Management
Development
Bernard McGuinness Senior Vice President-Science Senior Management
Darlene Nicosia Senior Vice President-Commercial Product Senior Management
Supply

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Key Employee Biographies

Key Employee Biographies

KEY EMPLOYEE BIOGRAPHIES

Muhtar Kent

Board:Executive Board
Job Title:Chairman, Chief Executive Officer
Since:2009
Age:63

Muhtar Kent has been the Chairman of the Board, Chief Executive Officer and President of the company
since 2009. Previously, he served as the Chief Executive Officer and President of the company from 2006
to 2008. Prior to this, he delivered his services as the President, Chief Operating Officer and an Executive
Vice President of the company since 2006. He was also the President of Coca-Cola International from
January 2006 to December 2006. Mr. Kent served as the President and Chief Operating Officer of the
Companys North Asia, Eurasia and Middle East Group from 2005 to 2006. He worked as the President
and Chief Executive Officer of the Efes Beverage Group from 1999 to 2005. Prior to this, he served as the
Managing Director of Coca-Cola Amatil Limited-Europe. Currently, he also serves on various company
boards that include 3M Company, Special Olympics International, Catalyst, Ronald McDonald House
Charities, and Emory University.

Ceree T. Eberly

Board:Senior Management
Job Title:Chief People Officer, Senior Vice President
Since:2010
Age:53

Ceree T. Eberly has been the Senior Vice President and Chief People Officer of the Coca-Cola Company
since 2010. Ms. Eberly has been associated with the company since 1990, during this time, she worked
in staffing, compensation and various business units of the Coca-Cola Company. Prior to this, she served
as Vice President of the McDonald's Division from 2003 and 2007. She was also Human Resources
Director of the company's Latin Center Division from 1998 to 2003.

Clyde C. Tuggle

Board:Senior Management
Job Title:Chief Public Affairs and Communications Officer, Senior Vice President
Age:53

Clyde Tuggle is the Senior Vice President and Chief Public Affairs and Communications Officer. Prior to
his current role, he served as an Executive Assistant to the Chairman and Chief Executive Officer of the
company. He has been associated with the company since 1989 during which, he worked in various roles
including Director of Operations Development, Deputy to the Division President, and Regional Manager

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Key Employee Biographies

for Austria. He also served as President of the Russia, Ukraine and Belarus Division; Senior Vice
President, Corporate Affairs and Productivity; and in 2009, he was named Senior Vice President, Global
Public Affairs and Communications of the Company.

Ed Hay

Board:Senior Management
Job Title:Chief Technical Officer, Senior Vice President
Since:2015

Mr Ed Hay has been the Chief Technical Officer and Senior Vice President of the company since 2015.
Previously, he served as the Vice President of the company since 2000. He held various positions of the
company including a Director Product Development in Corporate R&D, Director- R&D in Tokyo, Japan,
the Middle and Far East Group. Mr Hays joined the company as a scientist in Corporate R&D in 1985.
Currently, he also serves on the Board of the Flavor and Extract Manufacturers Association and the
International Federation of Essential Oils and Aromas Trades.

Ed Steinike

Board:Senior Management
Job Title:Chief Information Officer, Senior Vice President
Since:2013
Age:58

Ed Steinike has been the Chief Information Officer and the Senior Vice President of the company since
December 2013. Previously, he served as an Executive Vice President and the Chief Information Officer
of ING Insurance from 2007 to 2010. Earlier, he served as the Chief Development Officer and Chief
Information Officer of Coca-Cola North America. He joined the organization as the Chief Technology
Officer in 2002.

James Quincey

Board:Senior Management
Job Title:Chief Operating Officer, President
Since:2015
Age:51

James Quincey has been the President and Chief Operating Officer of the Company since August 2015.
Prior to this, he served as President of The Coca-Cola Companys Europe Group since 2013. Previously,
he served as the President of the Northwest Europe and Nordics business unit since October 2008. Mr.
Quincey also worked as the President of the Mexico division since December 2005 and President of the
South Latin Division since December 2003. Earlier, he served as a Region Manager for Argentina and
Uruguay of the company since 2000, Deputy to the Division President since 1999 and as a Director of
Learning Strategy for the Latin America Group since 1996.

Julie Hamilton

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The Coca-Cola Company
Key Employee Biographies

Board:Senior Management
Job Title:Chief Customer and Commercial Leadership Officer, Senior Vice President
Since:2016
Age:50

Julie Hamilton has been the Senior Vice President of the company since February 2016. She has also
been the Chief Customer and Commercial Leadership Officer of the company since April 2015.
Previously, she served as Vice President of the Company since April 2015. Earlier, Ms. Hamilton was
Executive Assistant to Muhtar Kent, the Chairman and Chief Executive Officer of the Company since
March 2011. She also served as the Group Vice President, North America Wal-Mart Team from 2007 to
2009, and as the President of the Global Wal-Mart Group from 2009 to 2011. Ms. Hamilton served as the
Vice President, Global Customer Development from 2005 to June 2007. She also served as Group
Director for Global On-Premise Customers from 2003 to 2005. Before that, Ms. Hamilton worked as a
Director of Franchise Sales and Marketing-Northwest US Region from 2000 to 2003. From April 1999 to
October 2000, she was the Group Manager for the Worldwide Marketing Partnership with Blockbuster.
She also served as the Franchise Manager of Independent Bottlers with Coca-Cola USA from January
1998 to April 1999. Ms. Hamilton joined the company in 1996 as Brand Development Manager of Still
Beverages with Coca-Cola USA.

Kathy N. Waller

Board:Senior Management
Job Title:Chief Financial Officer, Executive Vice President
Since:2014
Age:57

Kathy N. Waller has been the Chief Financial Officer and an Executive Vice President of the company
since 2014. Previously, she served as the Vice President, Finance and the Controller from 2005 to 2014.
Prior to this, she delivered her services as the Chief of Internal Audit from 2004 to 2009. Ms. Waller joined
the organization as the Senior Accountant in the Accounting Research Department in 1987.

Marcos de Quinto

Board:Senior Management
Job Title:Chief Marketing Officer, Executive Vice President
Since:2015
Age:57

Marcos de Quinto has been the Chief Marketing Officer and an Executive Vice President of the company
since February 2015. Previously, he served as the President of the Iberia Business Unit from 2000 to
2015 and as the Vice President, Europe Group from 2007 to 2012. Prior to this, he served as the
Regional Manager of the Coca-Cola Spain from 1996 to 2000. Mr. Quinto also served as the Marketing
Manager, Central Europe Division, from 1995 to 1996. During 1994-1995, he served as the Regional
Manager for Singapore and Malaysia and the Senior Vice President, Marketing Operations Manager,
Coca-Cola Southeast and West Asia from 1992 to 1994. Prior to this, he served as the Marketing

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The Coca-Cola Company
Key Employee Biographies

Services Manager of the company from 1990 to 1992. From 1988-1990, he served as the Regional
Manager for Southern Publicity Agencies ALAS BATES/BSB Advertising.

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MarketLine
The Coca-Cola Company
Major Products & Services

Major Products & Services

MAJOR PRODUCTS & SERVICES


The Coca-Cola Company is a manufacturer, distributor and marketer of non-alcoholic beverages. The
major products offered by the company include the following:

Products:

Non-Alcoholic Beverages:

Waters and Water Beverages


Juices / Juice Drinks
Iced/rtd Tea and Coffee Drinks

Concentrates:

Sparkling Beverages
Still Beverages
Sports and Energy Drinks

Brands:

Aquarius
Aquarius Spring
Bonaqua/Bonaqa
Bistra
Barqs
Cappy
Ciel
Coca-Cola
Coca-Cola Life
Coca-Cola Zero
Damla
Dasani
Del Valle
Diet Coke/Coca-Cola Light
Dobriy
Fanta
Fresca
Fuze
Glaceau Vitaminwater
Georgia
Honest Tea
Lift

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The Coca-Cola Company
Major Products & Services

Lilt
Inca Kola
Minute Maid
Minute Maid Pulpy
Powerade
Sprite
Simply
Schweppes
Tab
Vanilla Coke
vitaminwater
Zico

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The Coca-Cola Company
SWOT Analysis

SWOT Analysis

SWOT ANALYSIS
The Coca-Cola Company (Coca-Cola) is a global beverage manufacturing company. Strong brand
portfolio, wide geographic presence and bottling and distribution operations are the companys main
strengths whereas, high debt, declining financial performance, and lawsuit remain major areas of
concern. In the future, the company faces challenges from expansion initiatives by competitors, foreign
exchange risks and obesity and water concerns. However, cost cutting initiatives, expansion plans,
restructuring bottling system, and capacity expansion plans are likely to provide growth opportunities to
the company.

Strength Weakness

Wide Geographic Presence Lawsuits


Strong Brand Portfolio High Debt
Bottling and Distribution Operations Declining Financial Performance
Opportunity Threat

Restructuring Bottling System Expansion Initiatives by Competitors


Capacity Expansion Obesity and Water Concerns
Cost Cutting Initiatives Foreign Exchange Risks
Expansion Plans

Strength

Wide Geographic Presence

Coca-Cola has a strong geographical presence in North America, Latin America, Europe, Africa, Asia and
South Pacific. The company sells non-alcoholic beverage products in more than 200 countries. The
company markets a few brands exclusively in specific geographies such as Ambasa in Japan and South
Korea, and Andina Hi C Fruit juice in Chile, based on consumer preferences in the local markets. In
FY2015, Coca-Cola generated 49.2% of the net operating revenue from North America segment, followed
by Asia Pacific (10.6%), Europe (10.3%), Latin America (9%), and Eurasia and Africa (5.5%). Wide
geographic presence helps the company in achieving growth across various regions easily as compared
to competitors.

Strong Brand Portfolio

Coca-Cola enjoys a strong brand equity, which provides an edge over competitors while attracting and
retaining a loyal customer base. The company offers more than 500 brands across various categories
including diet beverages, packaged waters, enhanced waters, juices and juice drinks, iced/rtd tea drinks,
iced/rtd coffee drinks, and energy and sports drinks. It has an extensive portfolio of brands, which
includes core sparkling beverage brands, namely, Coca-Cola, Sprite, Fanta, Diet Coke / Coca-Cola Light,

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The Coca-Cola Company
SWOT Analysis

Coca-Cola Zero, Schweppes, Thums Up, Fresca, Inca Kola, Lift and Barqs; Energy Drinks such as Burn,
Nos, and Real Gold; Sports Drink brands such as Powerade and Aquarius; Juices and Juice Drink brands
such as Minute Maid, Minute Maid Pulpy, Del Valle, Simply, Hi-C, Dobriy and Cappy; Iced/rtd coffee and
tea drinks brands such as Nestea teas, Georgia coffees, Leao / Matte Leao teas, Sokenbicha teas,
Dogadan teas and Ayataka teas; Water brands such as Ciel, Dasani, Ice Dew, Bonaqua / Bonaqa and
Kinley; and other still beverage brands such as Glaceau Vitaminwater and Fuze. The companys top
brands include Coca-Cola, Diet Coke, Fanta, Coca-Cola Zero and Sprite. The company sells about two
billion beverages worldwide every day. Strong brand equity supports the launch of new products and the
company's foray into new markets.

Bottling and Distribution Operations

Strong bottling and distribution capabilities help the company in meeting global customer needs
efficiently. The companys branded beverage products are offered to consumers throughout the world
through a diversified network of the company-owned or controlled bottling and distribution operations,
bottling partners, distributors, wholesalers and retailers. In North America, Coca-Cola owns 63 beverage
production facilities, ten principal beverage concentrate and/or syrups manufacturing plants, two bottled
water facilities, one facility to manufacture juice concentrates for foodservice use and and one container
manufacturing facility. It owns and operates 18 principal beverage concentrate manufacturing plants
outside North America, of which seven are in the Pacific operating segment; five in Latin America; three in
Eurasia and Africa; and three in Europe. The company owns 76 principal beverage bottling and canning
plants globally. As of December 2015, Coca-Cola operates 224 principal beverage distribution
warehouses, of which, 80 are leased and remaining are owned. Strong bottling and distribution network
enables the company to reduce distribution costs.

Weakness

Lawsuits

The company has been defendant in several lawsuits. In January 2009, James Koh filed a lawsuit against
Coca-Cola and Energy Brands Inc., for falsely advertised Vitamin water's sugar content. In connection
with the filed lawsuit, in September 2015, Coca-Cola accepted to settle allegations in New York federal
court. It agreed to advertise on labels that the products contain sweeteners. Coca-Cola could add the
words with sweeteners in two places on Vitaminwater bottles and the label include calorie counts. It
would begin the label changes within three months. The company has to incur attorneys fees upto
US$2.7million in connection with the lawsuit. Lawsuits could result in penalties and fines, which would
increase its operating costs.

High Debt

High debt remains a major cause for concern to the company. At the end of FY2015, the company had a
total debt worth US$28,407 million, which was higher than US$19,063 million registered at the end of
FY2014, an increase of 49%. High debt may lead to volatile earnings in the future for the company due to
additional interest expense. In FY2015, Coca-incurred an interest expense of US$856 million as
compared to US$483 million in FY2014, representing an increase of 77%. The company may also face a

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The Coca-Cola Company
SWOT Analysis

major impact on its business if it is unable to generate sufficient cash flow or to obtain the required funds
to meet payments.

Declining Financial Performance

Coca-Cola delivered poor financial performance during FY2015. The companys total revenue declined by
4%, from US$45,998 million in FY2014 to US$44,294 million in FY2015. The decrease in the revenue
was primarily due to decline in revenue by 13.2% in Latin America, followed by Eurasia and Africa
(11.2%), Asia Pacific (10.4%), Europe (6.2%) and Bottling Investments (4.1%). The companys segmental
revenue declined due to decrease in sales volume; acquisitions and divestitures; price, product and
geographic mix; and foreign currency fluctuations. Also, the operating income of the company decreased
by 9.8% from US$ 9,676 million in FY2014 to US$8, 728 million in FY2015. Weak financial performance
may affect Coca-Colas ability to pursue growth and expansion plans.

Opportunity

Restructuring Bottling System

The company may benefit from its restructuring bottling system initiatives. In August 2015, the company
entered into an agreement with Coca-Cola Enterprises, Inc., and Coca-Cola Iberian Partners SA to merge
its German bottling operations for establishing a new company called Coca-Cola European Partners Plc.
Creation of new company could enable Coca-Cola to deliver better and effective service for customers
throughout Western Europe and drive profitable growth across multiple beverage categories. Coca-Cola
European Partners is expected to generate substantial synergies, including supply chain benefits and
operating efficiencies. Coca-Cola accrued US$122 million towards integration costs in FY2015. These
initiatives may help the company in achieving increased profits.

Capacity Expansion

Focus on expanding its bottling capacity may help the company to meet the demand for its products in
the marketplace. In August 2015, the company opened Coca-Cola bottling plant in Laos to distribute
beverages in each of the 10 ASEAN member countries. In March 2015, the company and Coca-Cola
Amatil invested US$500 million to expand the Coca-Cola Amatil Indonesia Cikekodan Plant in Bekasi,
West Java. This investment could enable the company to promote the local economy and contribute
economic growth in Indonesia. In August 2015, Coca-Cola announced to open its 45th production facility
in Hebei Province, China. It is expected to complete its first phase construction in 2017. Such capacity
expansion initiatives may strengthen the companys position in its present markets by providing it with
enhanced capacity to handle increase in demand. Such capacity expansion plans could provide growth
opportunities to the company.

Cost Cutting Initiatives

The company is focused on reducing production costs to achieve higher profits in future. The company
plans to target an annualized savings of US$3 billion per year by 2019 on its productivity program. In
order to achieve the cost savings, the company plans to restructure its global supply chain, including that

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The Coca-Cola Company
SWOT Analysis

of manufacturing operations in North America, implement zero-based budgeting across the organization,
streamline and simplify its operating model; and drive an increased discipline and efficiency in direct
marketing investments. As part of this program, In December 2015, Coca-Cola signed a letters of intent
with three bottlers, Coca-Cola Beverages Florida, Coca-Cola Bottling Company UNITED, and Viking
Coca-Cola Bottling Company to accelerate the pace of territory refranchising in five states of the US.
These initiatives help the company in achieving increased profits.

Expansion Plans

The company may explore growth opportunities from its expansion plans in the US, China and Nigeria. In
January 2015, the company signed an agreement with Tropical General Investments Group (TGI Group),
to acquire 40% stake in TGI Group's subsidiary Chi Ltd, a dairy and juice company in Nigeria. This
acquisition could enable the company to expand West African still beverages portfolio. Coca-Cola also
intends to increase ownership of TGI Group to 100% within three years. In June 2015, the company
acquired 16.7% stake in Monster Beverage Corporation. This transaction could allow the company to
provide full access for global distribution network. In April 2015, the company's subsidiary Coca-Cola
China announced to acquire 100% equity interest of Xiamen Culiangwang Beverage Technology Co.,
Ltd., a producer of plant-based protein drinks sold in China. This acquisition could enable Coca-Cola
China to provide a diverse range of beverage products to Chinese consumers. Expansion plans could
enhance the companys bottom line performance.

Threat

Expansion Initiatives by Competitors

The company faces tough competition from both local and global operators. Various expansion initiatives
taken by the competitors may put pressure on the companys operating and profit margins. High
competition in the market may force the company to increase its product differentiation by offering
merchandise at low prices and/or increase its promotional expenses, which may escalate its operating
costs. The companys major competitors include Danone SA, Dr Pepper Snapple Group Inc., Kraft Foods
Group, Inc., Mondelez International, Inc., National Beverage Corp., Nestle S.A, PepsiCo, Inc and Unilever
PLC.

While its major competitors have undertaken expansion programs to match the growth rate, the market
also recorded consolidation involving mergers and acquisitions, and expansion. In March 2016,
PepsiCos Brisk, an iced tea brand k introduced a new product line, Brisk Mate, a smooth energizing iced
tea. In same month, PepsiCo launched a new 'Mini Can' for Pepsi in a bite-sized packaging in India. In
August 2015, PepsiCo collaborated with JD.com Inc., to introduce the Quaker oat dairy drink to the
consumers in China. Such consolidation within the sector may result in the formation of large companies
besides intensifying competition that may cause the company to lose out on certain customers.

Obesity and Water Concerns

Health consequences resulting from obesity and water scarcity are primary concern areas for beverage
companies. Researchers, health advocates and dietary guidelines have advocated a reduction in

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The Coca-Cola Company
SWOT Analysis

consumption of sweetened beverages in order to avoid obesity. Various government entities are planning
to increase taxes on sugar-sweetened beverages to reduce consumption of such beverages and/or to
increase revenue. Increased consumer awareness towards obesity and probable new or increased taxes
on sugar-sweetened beverages by government entities may reduce the companys product sales and
margins. Increased water scarcity and availability of quality water is deteriorating day by day. Water being
a key ingredient for beverage manufacturers, increasing demand for water may result in higher production
costs in coming years.

Foreign Exchange Risks

Coca-Cola operates in various countries and is exposed to fluctuations in foreign exchange rates against
its reporting currency. The company reports financials in the US dollar and therefore its revenue is
exposed to volatility of the US dollar against other functional currencies such as the euro, South African
rand, the Japanese yen, Australian dollar, the Brazilian real and the Mexican peso. Major elements
exposed to exchange rate risks include the companys investments in overseas subsidiaries and affiliates
and monetary assets and liabilities arising from business transactions in foreign currencies. In FY2015,
the company had a negative impact of 12% on its operating income due to foreign currency translation.
To minimize risks from currency fluctuations, the company undertakes foreign exchange hedging
activities by entering into foreign exchange forward contracts. However, there is no assurance that such
hedging activities or measures may limit the impact of movements in exchange rates on the companys
results of operations.

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MarketLine
The Coca-Cola Company
Top Competitors

Top Competitors

TOP COMPETITORS
The following companies are the major competitors of The Coca-Cola Company

Danone SA
Dr Pepper Snapple Group, Inc.
Mondelez International, Inc.
National Beverage Corp.
Nestle SA
PepsiCo, Inc.
The Kraft Heinz Company
Unilever PLC

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MarketLine
The Coca-Cola Company
Company View

Company View

COMPANY VIEW
A statement from the companys Management discussion analysis is given below. The statement has
been taken from the companys 2015 10-k filings.

The Coca-Cola Company is the world's largest beverage company. We own or license and market more
than 500 nonalcoholic beverage brands, primarily sparkling beverages but also a variety of still beverages
such as waters, enhanced waters, juices and juice drinks, ready-to-drink teas and coffees, and energy
and sports drinks. We own and market four of the world's top five nonalcoholic sparkling beverage
brands: Coca-Cola, Diet Coke, Fanta and Sprite. Finished beverage products bearing our trademarks,
sold in the United States since 1886, are now sold in more than 200 countries.

We make our branded beverage products available to consumers throughout the world through our
network of Company-owned or -controlled bottling and distribution operations, bottling partners,
distributors, wholesalers and retailers the world's largest beverage distribution system. Beverages
bearing trademarks owned by or licensed to us account for more than 1.9 billion of the approximately 58
billion servings of all beverages consumed worldwide every day.

We believe our success depends on our ability to connect with consumers by providing them with a wide
variety of choices to meet their desires, needs and lifestyle choices. Our success further depends on the
ability of our people to execute effectively, every day.

Our goal is to use our Company's assets our brands, financial strength, unrivaled distribution system,
global reach, and the talent and strong commitment of our management and associates to become
more competitive and to accelerate growth in a manner that creates value for our shareowners.

Our Company markets, manufactures and sells:

beverage concentrates, sometimes referred to as "beverage bases," and syrups, including fountain
syrups (we refer to this part of our business as our "concentrate business" or "concentrate operations");
and

finished sparkling and still beverages (we refer to this part of our business as our "finished product
business" or "finished product operations").

Generally, finished product operations generate higher net operating revenues but lower gross profit
margins than concentrate operations.

In our concentrate operations, we typically generate net operating revenues by selling concentrates and
syrups to authorized bottling and canning operations (to which we typically refer as our "bottlers" or our
"bottling partners"). Our bottling partners either combine the concentrates with sweeteners (depending on
the product), still water and/or sparkling water, or combine the syrups with sparkling water to produce
finished beverages. The finished beverages are packaged in authorized containers such as cans and
refillable and nonrefillable glass and plastic bottles bearing our trademarks or trademarks licensed to

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The Coca-Cola Company
Company View

us and are then sold to retailers directly or, in some cases, through wholesalers or other bottlers. Outside
the United States, we also sell concentrates for fountain beverages to our bottling partners who are
typically authorized to manufacture fountain syrups, which they sell to fountain retailers such as
restaurants and convenience stores which use the fountain syrups to produce beverages for immediate
consumption, or to authorized fountain wholesalers who in turn sell and distribute the fountain syrups to
fountain retailers.

Our finished product operations consist primarily of Company-owned or -controlled bottling, sales and
distribution operations, including CCR. Until December 31, 2015, our Company-owned or -controlled
bottling, sales and distribution operations, other than CCR, were included in our Bottling Investments
operating segment; and CCR was included in our North America operating segment. Effective January 1,
2016, we transferred CCR's bottling and associated supply chain operations in the United States and
Canada from our North America segment to our Bottling Investments segment. Our finished product
operations generate net operating revenues by selling sparkling beverages and a variety of still
beverages, such as juices and juice drinks, energy and sports drinks, ready-to-drink teas and coffees,
and certain water products, to retailers or to distributors, wholesalers and bottling partners who distribute
them to retailers. In addition, in the United States, we manufacture fountain syrups and sell them to
fountain retailers such as restaurants and convenience stores who use the fountain syrups to produce
beverages for immediate consumption or to authorized fountain wholesalers or bottling partners who
resell the fountain syrups to fountain retailers. In the United States, we authorize wholesalers to resell our
fountain syrups through nonexclusive appointments that neither restrict us in setting the prices at which
we sell fountain syrups to the wholesalers nor restrict the territories in which the wholesalers may resell in
the United States.

The Nonalcoholic Beverage Segment of the Commercial Beverage Industry


We operate in the highly competitive nonalcoholic beverage segment of the commercial beverage
industry. We face strong competition from numerous other general and specialty beverage companies.
We, along with other beverage companies, are affected by a number of factors, including, but not limited
to, cost to manufacture and distribute products, consumer spending, economic conditions, availability and
quality of water, consumer preferences, inflation, political climate, local and national laws and regulations,
foreign currency fluctuations, fuel prices and weather patterns.

Our Objective

Our objective is to use our formidable assets our brands, financial strength, unrivaled distribution
system, global reach, and the talent and strong commitment of our management and associates to
achieve long-term sustainable growth. Our vision for sustainable growth includes the following:

People: Being a great place to work where people are inspired to be the best they can be.

Portfolio: Bringing to the world a portfolio of beverage brands that anticipates and satisfies people's
desires and needs.

Partners: Nurturing a winning network of partners and building mutual loyalty.

Planet: Being a responsible global citizen that makes a difference.

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The Coca-Cola Company
Company View

Profit: Maximizing return to shareowners while being mindful of our overall responsibilities.

Productivity: Managing our people, time and money for greatest effectiveness.
To enable us to achieve our objective, we must further enhance our core capabilities of consumer
marketing; commercial leadership; franchise leadership; and bottling and distribution operations.

Consumer Marketing

Marketing investments are designed to enhance consumer awareness of, and increase consumer
preference for, our brands. Successful marketing investments produce long-term growth in unit case
volume, per capita consumption and our share of worldwide nonalcoholic beverage sales. Through our
relationships with our bottling partners and those who sell our products in the marketplace, we create and
implement integrated marketing programs, both globally and locally, that are designed to heighten
consumer awareness of and product appeal for our brands. In developing a strategy for a Company
brand, we conduct product and packaging research, establish brand positioning, develop precise
consumer communications and solicit consumer feedback. Our integrated marketing activities include, but
are not limited to, advertising, point-of-sale merchandising and sales promotions.

We are focusing on marketing strategies to drive volume growth in emerging markets, increasing our
brand value in developing markets and growing profit in our developed markets. In emerging markets, we
are investing in infrastructure programs that drive volume through increased access to consumers. In
developing markets, where consumer access has largely been established, our focus is on differentiating
our brands. In our developed markets, we continue to invest in brands and infrastructure programs but
generally at a slower rate than gross profit growth.

Commercial Leadership

The Coca-Cola system has millions of customers around the world who sell or serve our products directly
to consumers. We focus on enhancing value for our customers and providing solutions to grow their
beverage businesses. Our approach includes understanding each customer's business and needs
whether that customer is a sophisticated retailer in a developed market or a kiosk owner in an emerging
market. We focus on ensuring that our customers have the right product and package offerings and the
right promotional tools to deliver enhanced value to themselves and the Company. We are constantly
looking to build new beverage consumption occasions in our customers' outlets through unique and
innovative consumer experiences, product availability and delivery systems, and beverage merchandising
and displays. We participate in joint brand-building initiatives with our customers in order to drive
consumer preference for our brands. Through our commercial leadership initiatives, we embed ourselves
further into our retail customers' businesses while developing strategies for better execution at the point of
sale.

Franchise Leadership

We must continue to improve our franchise leadership capabilities to give our Company and our bottling
partners the ability to grow together through shared values, aligned incentives and a sense of urgency
and flexibility that supports consumers' always changing needs and tastes. The financial health and

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The Coca-Cola Company
Company View

success of our bottling partners are critical components of the Company's success. We work with our
bottling partners to identify processes that enable us to quickly achieve scale and efficiencies, and we
share best practices throughout the bottling system. With our bottling partners, we work to produce
differentiated beverages and packages that are appropriate for the right channels and consumers. We
also design business models for sparkling and still beverages in specific markets to ensure that we
appropriately share the value created by these beverages with our bottling partners. We will continue to
build a supply chain network that leverages the size and scale of the Coca-Cola system to gain a
competitive advantage.

Bottling and Distribution Operations

Most of our Company beverage products are manufactured, sold and distributed by independent bottling
partners. However, from time to time we acquire or take control of bottling operations, often in
underperforming markets where we believe we can use our resources and expertise to improve
performance. Owning such a controlling interest enables us to compensate for limited local resources;
help focus the bottler's sales and marketing programs; assist in the development of the bottler's business
and information systems; and establish an appropriate capital structure for the bottler.

Our Company has a long history of providing world-class customer service, demonstrating leadership in
the marketplace and leveraging the talent of our global workforce. In addition, we have an experienced
bottler management team. All of these factors are critical to build upon as we manage our bottling and
distribution operations.

The Company has a deep commitment to continuously improving our business. This includes our efforts
to develop innovative packaging and merchandising solutions which help drive demand for our beverages
and meet the evolving preferences of our consumers. As we further transform the way we go to market,
the Company continues to seek out ways to be more efficient.

Challenges and Risks

Being global provides unique opportunities for our Company. Challenges and risks accompany those
opportunities. Our management has identified certain challenges and risks that demand the attention of
the nonalcoholic beverage segment of the commercial beverage industry and our Company. Of these, six
key challenges and risks are discussed below.

Obesity

The rates of obesity affecting communities, cultures and countries worldwide continue to be too high.
There is growing concern among consumers, public health professionals and government agencies about
the health problems associated with obesity, which results from poor diets that are too high in calories
combined with inactive lifestyles. This concern represents a significant challenge to our industry. We
understand and recognize that obesity is a complex public health challenge and are committed to being a
part of the solution.

We recognize the uniqueness of consumers' lifestyles and dietary choices. We are working to pair
commercial actions with community engagement to bring together business, government and civil society

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MarketLine
The Coca-Cola Company
Company View

to help pursue solutions that address obesity. Commercially, we continue to:

offer reduced-, low- or no-calorie beverage options;


provide transparent nutrition information, featuring calories on the front of all of our packages;
provide our beverages in a range of packaging sizes; and
market responsibly, including no advertising to children under 12.
The heritage of our Company is to lead, and innovation is critical for leadership. As such, we are resolute
in continuing to innovate and are committed to partnering to find winning solutions in the area of
noncaloric sweeteners. This includes working to reduce caloric sweeteners, and therefore the calories, in
our beverages. We want to be a more helpful and credible partner in the fight against obesity. Across the
Coca-Cola system, we are mobilizing our assets in marketing and in community outreach to increase
awareness and spur action.

Water Quality and Quantity

Water quality and quantity is an issue that increasingly requires our Company's attention and
collaboration with other companies, suppliers, governments, nongovernmental organizations and
communities where we operate. Water is a main ingredient in substantially all of our products, is vital to
the production of the agricultural ingredients on which our business relies and is needed in our
manufacturing process. It also is critical to the prosperity of the communities we serve. Water is a limited
natural resource facing unprecedented challenges from overexploitation, flourishing food demand,
increasing pollution, poor management and the effects of climate change.

Our Company has a robust water stewardship and management program and continues to work to
improve water use efficiency, treat wastewater prior to discharge and achieve our goal of replenishing the
water that we and our bottling partners source and use in our finished products. We regularly assess the
specific water-related risks that we and many of our bottling partners face and have implemented a formal
water risk management program. We are actively collaborating with other companies, governments,
nongovernmental organizations and communities to advocate for needed water policy reforms and action
to protect water availability and quality around the world. We are working with our global partners to
develop and implement sustainability-related water projects that address local needs. We are
encouraging improved water efficiency and conservation efforts throughout our system. Through these
integrated programs, we believe that our Company is in an excellent position to leverage the water-
related knowledge we have developed in the communities we serve through source water availability
assessments and planning, water resource management, water treatment, wastewater treatment systems
and models for working with communities and partners in addressing water and sanitation needs. As
demand for water continues to increase around the world, we expect commitment and continued action
on our part will be crucial to the successful long-term stewardship of this critical natural resource.

Evolving Consumer Preferences

We are impacted by shifting consumer demographics and needs, on-the-go lifestyles, aging populations
and consumers who are empowered with more information than ever. As a consequence of these
changes, consumers want more choices. We are committed to meeting their needs and to generating
new growth through our portfolio of more than 500 brands and more than 3,800 beverage products,
including more than 1,100 low- and no-calorie products, new product offerings, innovative packaging and

The Coca-Cola Company Page 33


MarketLine
The Coca-Cola Company
Company View

ingredient education efforts. We are also committed to continuing to expand the variety of choices we
provide to consumers to meet their ever-changing needs, desires and lifestyles.

The Coca-Cola Company Page 34


MarketLine
The Coca-Cola Company
Locations And Subsidaries

Locations And Subsidaries

LOCATIONS AND SUBSIDARIES

Head Office

The Coca-Cola Company


One Coca-Cola Plaza
Atlanta
Georgia
Atlanta
Georgia
USA
Phone:1 404 6762121
Fax:1 404 6766792
www.coca-colacompany.com

Other Locations and Subsidiaries

ACCBC Holding Company LLC Atlantic Coca-Cola Bottling Company


Georgia Cayman Islands
Georgia Cayman Islands
USA GBR
www.atlanticbottling.com
Atlantic Industries Limited Barlan, Inc.
PO Box 6161, 32 York Street 4445 Country Club Court
Sackville Riverton
New Brunswick Wyoming
New Brunswick Riverton
CAN Wyoming
USA
BCI Coca-Cola Bottling Company of Los Angeles Beverage Brands S.R.L.
Delaware PER
Delaware
USA
Bharat Coca-Cola Overseas Holdings Pte. Ltd. Caribbean Refrescos, Inc.
457 Jalan Ahmad Ibrahim Delaware
Singapore Delaware
Singapore USA
SGP
CCHBC Grouping, Inc. Coca Cola (Portugal)-Refrigerantes Lda
USA Torre Monsanto - 8 Piso, Rua Afonso Praa, n 30/A
Alges
Alges
PRT

The Coca-Cola Company Page 35


MarketLine
The Coca-Cola Company
Locations And Subsidaries

Coca-Cola (China) Beverages Ltd Coca-Cola (China) Investments Limited


No. 1188 Ziyue Road CHN
Zizhu Science Based Industrial Park
Minhang District
Shanghai
Minhang District
Shanghai
CHN
www.coca-cola.com.cn
Coca-Cola (Japan) Company, Limited Coca-Cola Africa (Proprietary) Limited
ARK Hills South Tower 4-5 9 Junction Avenue
Roppongi 1-Chome Johannesburg
Minato-Ku Johannesburg
Tokyo ZAF
Tokyo
Tokyo
Tokyo
JPN
www.cocacola.co.jp
Coca-Cola Beverages (Shanghai) Company Limited Coca-Cola Beverages Asia Holdings SARL
No.1188 Ziyue Rd LUX
Zizhu Science Park Minhang Dist.
Shanghai
Shanghai
Shanghai
Shanghai
CHN
Phone:86 21 61928500
Fax:86 21 61928040
www.coca-cola.com.cn
Coca-Cola Beverages Vietnam Ltd. Coca-Cola Bulgaria
10 Floor, Metropolitan Building 8 Ratcho Petrov Kazanjiata str
235 Dong Khoi Str, District1 Sofia
Ho Chi Minh City Sofia
Ho Chi Minh City Sofia
VNM Sofia
www.coca-cola.vn BGR
www.coca-cola.bg
Coca-Cola Chile SA Coca-Cola China Industries Limited
Vd Presidente Kennedy 5757 COK
12th Floor
Santiago
Santiago
CHL
www.cocacola.cl

The Coca-Cola Company Page 36


MarketLine
The Coca-Cola Company
Locations And Subsidaries

Coca-Cola de Chile S.A Coca-Cola de Mexico, S.A. de C.V.


CHL Ruben Dario No. 115
Piso 8
Col. Bosque de
Chapultepec
Distrito Federal
Chapultepec
Distrito Federal
MEX
Phone:52 5552622000
Fax:52 5552622011
www.coca-colamexico.com.mx
Coca-Cola Erfrischungsgetranke AG Coca-Cola GmbH
Stralauer Allee 4 Stralauer Allee 4
Berlin Berlin
Berlin Berlin
DEU Berlin
Berlin
DEU
www.coca-cola-deutschland.de
Coca-Cola Great Britain Coca-Cola Holdings (Overseas) Limited
1A Wimpole Street USA
London
England
London
England
GBR
Phone:0800227711
www.coca-cola.co.uk
Coca-Cola Holdings (United Kingdom) Limited Coca-Cola India Private Limited
1 Queen Caroline Street EnkayTower, UdyogVihar V
London Gurgaon
England Haryana
London Gurgaon
England Haryana
GBR IND
www.coca-colaindia.com
Coca-Cola Indochina Pte. Ltd. Coca-Cola Industrias Limitada-Costa Rica
SGP CRI
Coca-Cola Industrias Ltda. Coca-Cola Ireland
Praia de Botafogo 374 38-39 Lower Baggot Street
Rio de Janeiro Dubiln
Rio de Janeiro Dublin
Rio de Janeiro Dubiln
BRA Dublin

The Coca-Cola Company Page 37


MarketLine
The Coca-Cola Company
Locations And Subsidaries

www.cocacolabrasil.com.br IRL
www.coca-cola.ie
CocaCola Magyarorszag Szolgaltato Kft Coca-Cola Midi SAS
Alsnmedi Road 104, BP 701
Dunaharaszti Toulon
Dunaharaszti Toulon
HUN FRA
www.coca-cola.hu Phone:33 4 94329800
Coca-Cola North America Coca-Cola Oasis LLC
1 Coca-Cola Plaza, Delaware
Atlanta Delaware
Georgia USA
Atlanta
Georgia
USA
www.coca-cola.com
Coca-Cola Overseas Parent Limited Coca-Cola Refreshments Canada Company
1 Coca Cola Plaza Nw CAN
Atlanta
Georgia
Atlanta
Georgia
USA
Coca-Cola Refreshments USA, Inc. Coca-Cola Reinsurance Services Limited
USA th Floor 25-28 Adelaide Road
Dublin
Leinster
Dublin
Leinster
IRL
Coca-Cola Romania SRL Coca-Cola Schweiz GmbH
Bucharest Business Park Stationsstrasse 33,
Sos Bucuresti Ploiesti Brttisellen
C1 2nd Floor Brttisellen
Bucharest CHE
Bucharest www.coca-cola.ch
ROM
www.coca-cola.ro
Coca-Cola Singapore Beverages Pte Ltd Coca-Cola South Asia (India) Holdings Limited
457 Jalan Ahmad Ibrahim HKG
Singapore
Singapore
SGP
www.coca-cola.com.sg
Coca-Cola South Asia Holdings, Inc. Coca-Cola South Pacific Pty Limited

The Coca-Cola Company Page 38


MarketLine
The Coca-Cola Company
Locations And Subsidaries

1 Coca Cola Plaza Nw 71 Circular Qy E


Atlanta Sydney
Georgia Sydney
Atlanta AUS
Georgia
USA
Conco Limited Corporacion Inca Kola Peru S.R.L.
Cayman Islands PER
Cayman Islands
GBR
Dulux CBAI 2003 B.V. Energy Brands Inc.
Saturnusstraat 25 /I 17-20 Whitestone Express way
Noord-Holland Whitestone
Noord-Holland New York
NLD Whitestone
New York
USA
Phone:1 718 7460087
Fax:1 718 7471748
www.energybrands.com
European Refreshments Ltd. Fresh Trading Limited
38/39 Lower Baggot Street Unit 1 Goldhawk Industrial Estate
Dublin, 2 2A Brackenbury Road, Hammersmith
Dublin Greater London
Dublin, 2 London
Dublin London
IRL GBR
Phone:353 1 6694200 Phone:44 - 2086003993
www.coca-cola.ie www.innocentdrinks.co.uk
Great Plains Coca-Cola Bottling Company Hindustan Coca-Cola Beverages Private Limited
600 North May Avenue Orchid Centre, 3rd Floor
Oklahoma DLF Golf Course Road, Sector 53
Oklahoma Phase 5
Oklahoma Gurgaon
Oklahoma Haryana
USA Gurgaon
Phone:1 800 7532653 Haryana
Fax:1 405 9465739 IND
www.greatplainscocacola.com Phone:91 12 42348041
Fax:91 12 42348654
www.hindustancoca-cola.com
Hindustan Coca-Cola Holdings Private Limited Hindustan Coca-Cola Overseas Holdings Pte. Limited
13, Abul Fazal Road, Bengali Market SGP
New Delhi
Delhi

The Coca-Cola Company Page 39


MarketLine
The Coca-Cola Company
Locations And Subsidaries

New Delhi
Delhi
IND
Luxembourg CB 2002 S.a.r.l. Middle Eastern Refreshments Holdings Ltd.
LUX ARE
Middle Eastern Refreshments Ltd. Odwalla, Inc.
ARE 1900 Davis Drive
Dinuba
USA
www.odwalla.com
Pacific Refreshments Pte. Ltd. PT Coca-Cola Indonesia
1 Tuas Bay Drive Wisma GKBI, 8th Floor
SGP Jl Jendral Sudirman 28
Jakarta
Jakarta
Jakarta
Jakarta
IDN
www.coca-cola.co.id
Recofarma Industria do Amazonas Ltda. Red Re Captive Insurance Company, Inc.
BRA GEO
Refreshment Product Services, Inc. S.A. Coca-Cola Services N.V.
Delaware BEL
Delaware
USA
Servicios Integrados de Administracion y Alta Servicios Y Productos Para Bebidas Refrescantes
Gerencia, S. de R.L. de C.V. S.R.L.
MEX Paraguay 733
Planta Baja Al Piso 12
Ciudad De
Buenos Aires
Buenos Aires
ARG
Phone:54 11 43192000
Fax:54 11 43192010
www.fruitopia.com
The Coca-Cola Company The Coca-Cola Company
40 Mount Street, Level 9 89- B II, Gulberg III
North Sydney Hussain Chowk
New South Wales Lahore
North Sydney Lahore
New South Wales PAK
AUS
The Coca-Cola Company The Coca-Cola Company
Am Euro Platz 2, Building G ARK Hills South Tower 4-5

The Coca-Cola Company Page 40


MarketLine
The Coca-Cola Company
Locations And Subsidaries

Vienna Roppongi 1-Chome


Vienna Minato-Ku
AUT Tokyo
Minato-Ku
Tokyo
JPN
The Coca-Cola Company The Coca-Cola Company
Sidi Maarouf Stralauer Allee 4
Casablanca Berlin
Casablanca Berlin
MAR DEU
The Coca-Cola Company The Coca-Cola Company
Street. Pans, 17g The Oasis, Mt Wellington
Kyiv Auckland
Kyiv Auckland
UKR NZL
The Coca-Cola Company The Coca-Cola Company
ul. Ivan Franko, 8A, 16th Floor Viale t. Edison 110 / B,
Moscow Sesto
Moscow San Giovanni
RUS Milan
Milan
ITA
The Coca-Cola Export Corporation The Coca-Cola Trading Company LLC
8A Ivana Franko street, 16th Floor USA
Moscow
Moscow
RUS
www.coca-cola-russia.ru
The Inmex Corporation Varoise de Concentres S.A.S.
USA Parc Activits Signes
9 Avenue de berlin
Signes
Signes
FRA

The Coca-Cola Company Page 41


MarketLine
The Coca-Cola Company
Financial Overview

Financial Overview

FINANCIAL OVERVIEW

Summarized Statement
*Note: Eliminations not included, all figures in Million except per share data.

Parameters Currency 2012 2013 2014 2015 2016


Income Statements
Total Revenue USD 48,017.00 46,854.00 45,998.00 44,294.00 41,863.00
Gross Profit USD 28,964.00 28,433.00 28,109.00 26,812.00 25,398.00
Operating Income USD 11,056.00 10,728.00 9,676.00 8,728.00 8,626.00
Net Income USD 9,019.00 8,584.00 7,098.00 7,351.00 6,527.00
Diluted Normalized EPS USD 1.99 1.97 1.88 1.67 1.75
Balance Sheet
Total Current Assets USD 30,328.00 31,304.00 32,986.00 33,395.00 34,010.00
Total Assets USD 86,174.00 90,055.00 92,023.00 89,996.00 87,270.00
Total Current Liabilities USD 27,821.00 27,811.00 32,374.00 26,929.00 26,532.00
Total Liabilities USD 53,384.00 56,882.00 61,703.00 64,442.00 64,208.00
Total Equity USD 32,790.00 33,173.00 30,320.00 25,554.00 23,062.00
Total Common Shares USD 4,469.00 4,402.00 4,366.00 4,324.00 4,288.00
Outstanding
Cash Flow
Cash from Operating Activities USD 10,645.00 10,542.00 10,615.00 10,528.00 8,796.00
Cash from Investing Activities USD -11,404.00 -4,214.00 -7,506.00 -6,186.00 -999.00
Cash from Financing Activities USD -3,347.00 -3,745.00 -3,631.00 -5,113.00 -6,545.00
Net Change in Cash USD -4,361.00 1,972.00 -1,456.00 -1,649.00 1,246.00

Detailed Statement
*Note: Eliminations not included, all figures in Million except per share data.

Parameters Currency 2012 2013 2014 2015 2016


Income Statements
Revenue USD 48,017.00 46,854.00 45,998.00 44,294.00 41,863.00
Total Revenue USD 48,017.00 46,854.00 45,998.00 44,294.00 41,863.00
Cost of Revenue, Total USD 19,053.00 18,421.00 17,889.00 17,482.00 16,465.00
Gross Profit USD 28,964.00 28,433.00 28,109.00 26,812.00 25,398.00
Selling/ General/ Admin. USD 17,711.00 17,248.00 17,273.00 16,451.00 15,240.00
Expenses, Total
Unusual Expense (Income) USD 140.00 377.00 877.00 1,401.00 1,365.00

The Coca-Cola Company Page 42


MarketLine
The Coca-Cola Company
Financial Overview

Other Operating Expenses, USD 30.00 18.00 338.00 256.00 145.00


Total
Total Operating Expense USD 36,961.00 36,126.00 36,322.00 35,566.00 33,237.00
Operating Income USD 11,056.00 10,728.00 9,676.00 8,728.00 8,626.00
Gain (Loss) on Sale of Assets USD 0.00 0.00 -799.00 1,403.00 0.00
Other, Net USD -235.00 -132.00 6.00 -922.00 -1,047.00
Net Income Before Taxes USD 11,809.00 11,477.00 9,325.00 9,605.00 8,136.00
Provision for Income Taxes USD 2,723.00 2,851.00 2,201.00 2,239.00 1,586.00
Net Income After Taxes USD 9,086.00 8,626.00 7,124.00 7,366.00 6,550.00
Minority Interest USD -67.00 -42.00 -26.00 -15.00 -23.00
Net Income Before Extra. Items USD 9,019.00 8,584.00 7,098.00 7,351.00 6,527.00
Net Income USD 9,019.00 8,584.00 7,098.00 7,351.00 6,527.00
Income Available to Com Excl USD 9,019.00 8,584.00 7,098.00 7,351.00 6,527.00
ExtraOrd
Income Available to Com Incl USD 9,019.00 8,584.00 7,098.00 7,351.00 6,527.00
ExtraOrd
Dilution Adjustment USD 0.00 0.00 0.00 0.00 0.00
Diluted Net Income USD 9,019.00 8,584.00 7,098.00 7,351.00 6,527.00
Diluted Weighted Average USD 4,584.00 4,509.00 4,450.00 4,405.00 4,367.00
Shares
Diluted EPS Excluding USD 1.97 1.90 1.60 1.67 1.49
ExtraOrd Items
Diluted Normalized EPS USD 1.99 1.97 1.88 1.67 1.75
DPS - Common Stock Primary USD 1.00 1.10 1.20 1.30 1.38
Issue
Balance Sheet
Cash & Equivalents USD 8,442.00 10,414.00 8,958.00 7,309.00 8,555.00
Short Term Investments USD 8,109.00 9,854.00 12,717.00 12,591.00 13,646.00
Cash and Short Term USD 16,551.00 20,268.00 21,675.00 19,900.00 22,201.00
Investments
Accounts Receivable - Trade, USD 4,759.00 4,873.00 4,466.00 3,941.00 3,856.00
Net
Total Receivables, Net USD 4,759.00 4,873.00 4,466.00 3,941.00 3,856.00
Total Inventory USD 3,264.00 3,277.00 3,100.00 2,902.00 2,675.00
Prepaid Expenses USD 2,284.00 2,400.00 2,062.00 2,035.00 1,766.00
Other Current Assets, Total USD 3,470.00 486.00 1,683.00 4,617.00 3,512.00
Total Current Assets USD 30,328.00 31,304.00 32,986.00 33,395.00 34,010.00
Property/ Plant/ Equipment, USD 23,486.00 25,032.00 25,258.00 22,354.00 21,256.00
Total - Gross
Accumulated Depreciation, USD -9,010.00 -10,065.00 -10,625.00 -9,783.00 -10,621.00
Total

The Coca-Cola Company Page 43


MarketLine
The Coca-Cola Company
Financial Overview

Property/ Plant/ Equipment, USD 14,476.00 14,967.00 14,633.00 12,571.00 10,635.00


Total - Net
Goodwill, Net USD 12,255.00 12,312.00 12,100.00 11,289.00 10,629.00
Intangibles, Net USD 15,082.00 15,299.00 14,272.00 12,843.00 10,499.00
Long Term Investments USD 10,490.00 11,684.00 13,859.00 16,033.00 17,251.00
Other Long Term Assets, Total USD 3,543.00 4,489.00 4,173.00 3,865.00 4,246.00
Total Assets USD 86,174.00 90,055.00 92,023.00 89,996.00 87,270.00
Accounts Payable USD 1,969.00 1,933.00 2,089.00 0.00 2,682.00
Payable/ Accrued USD -456.00 -471.00 0.00 9,391.00 -163.00
Accrued Expenses USD 6,711.00 7,644.00 7,145.00 0.00 6,116.00
Notes Payable/ Short Term USD 16,297.00 16,901.00 19,130.00 13,129.00 12,498.00
Debt
Current Port. of LT Debt/ USD 1,577.00 1,024.00 3,552.00 2,676.00 3,527.00
Capital Leases
Other Current liabilities, Total USD 1,723.00 780.00 458.00 1,733.00 1,872.00
Total Current Liabilities USD 27,821.00 27,811.00 32,374.00 26,929.00 26,532.00
Long Term Debt USD 14,736.00 19,154.00 19,063.00 28,311.00 29,684.00
Total Long Term Debt USD 14,736.00 19,154.00 19,063.00 28,311.00 29,684.00
Total Debt USD 32,610.00 37,079.00 41,745.00 44,116.00 45,709.00
Deferred Income Tax USD 4,981.00 6,152.00 5,636.00 4,691.00 3,753.00
Minority Interest USD 378.00 267.00 241.00 210.00 158.00
Other Liabilities, Total USD 5,468.00 3,498.00 4,389.00 4,301.00 4,081.00
Total Liabilities USD 53,384.00 56,882.00 61,703.00 64,442.00 64,208.00
Common Stock, Total USD 1,760.00 1,760.00 1,760.00 1,760.00 1,760.00
Additional Paid-In Capital USD 11,379.00 12,276.00 13,154.00 14,016.00 14,993.00
Retained Earnings USD 58,045.00 61,660.00 63,408.00 65,018.00 65,502.00
(Accumulated Deficit)
Treasury Stock - Common USD -35,009.00 -39,091.00 -42,225.00 -45,066.00 -47,988.00
Unrealized Gain (Loss) USD 0.00 258.00 972.00 0.00 305.00
Other Equity, Total USD -3,385.00 -3,690.00 -6,749.00 -10,174.00 -11,510.00
Total Equity USD 32,790.00 33,173.00 30,320.00 25,554.00 23,062.00
Total Liabilities & Shareholders' USD 86,174.00 90,055.00 92,023.00 89,996.00 87,270.00
Equity
Total Common Shares USD 4,469.00 4,402.00 4,366.00 4,324.00 4,288.00
Outstanding
Cash Flow
Net Income/ Starting Line USD 9,086.00 8,626.00 7,124.00 7,366.00 6,550.00
Depreciation/ Depletion USD 1,982.00 1,977.00 1,976.00 1,970.00 1,787.00
Deferred Taxes USD 632.00 648.00 -40.00 73.00 -856.00
Non-Cash Items USD 25.00 223.00 1,994.00 1,276.00 1,536.00

The Coca-Cola Company Page 44


MarketLine
The Coca-Cola Company
Financial Overview

Changes in Working Capital USD -1,080.00 -932.00 -439.00 -157.00 -221.00


Cash from Operating Activities USD 10,645.00 10,542.00 10,615.00 10,528.00 8,796.00
Capital Expenditures USD -2,780.00 -2,550.00 -2,406.00 -2,553.00 -2,262.00
Other Investing Cash Flow USD -8,624.00 -1,664.00 -5,100.00 -3,633.00 1,263.00
Items, Total
Cash from Investing Activities USD -11,404.00 -4,214.00 -7,506.00 -6,186.00 -999.00
Financing Cash Flow Items USD 100.00 17.00 -363.00 251.00 79.00
Total Cash Dividends Paid USD -4,595.00 -4,969.00 -5,350.00 -5,741.00 -6,043.00
Issuance (Retirement) of Stock, USD -3,070.00 -3,504.00 -2,630.00 -2,319.00 -2,247.00
Net
Issuance (Retirement) of Debt, USD 4,218.00 4,711.00 4,712.00 2,696.00 1,666.00
Net
Cash from Financing Activities USD -3,347.00 -3,745.00 -3,631.00 -5,113.00 -6,545.00
Foreign Exchange Effects USD -255.00 -611.00 -934.00 -878.00 -6.00
Net Change in Cash USD -4,361.00 1,972.00 -1,456.00 -1,649.00 1,246.00
Cash Interest Paid USD 574.00 498.00 498.00 515.00 663.00
Cash Taxes Paid USD 981.00 2,162.00 1,926.00 2,357.00 1,554.00

Capital Market Ratios

Key Ratios February 27,2017


P/E (Price/Earnings) Ratio 25.18
EV/EBITDA (Enterprise Value/Earnings Before Interest, Taxes, 22.64
Depreciation and Amortization)
Enterprise Value/Sales 4.91
Enterprise Value/Operating Profit 24.92
Enterprise Value/Total Assets 2.42
Dividend Yield 0.00
Market Cap 178,908.55
Enterprise Value 216,220.55

Note: The above ratios are based on


the share price as of February
27,2017, they are absolute numbers

The Coca-Cola Company Page 45


MarketLine
The Coca-Cola Company
Financial Overview

Annual Ratios

Key Ratios Unit Currency 2012 2013 2014 2015 2016


Growth Ratios
Sales Growth % 0.00 0.00 0.00 0.00 0.00
Operating Income Growth % 0.00 0.00 0.00 0.00 0.00
EBITDA Growth % 0.00 0.00 0.00 0.00 0.00
Net Income Growth % 0.00 0.00 0.00 0.00 0.00
EPS Growth % 0.00 0.00 0.00 0.00 0.00
Working Capital Growth % 0.00 0.00 0.00 0.00 0.00
Equity Ratios
EPS (Earnings per Share) USD 1.85 1.97 1.90 1.60 1.67
Dividend per Share USD 0.00 0.00 0.00 0.00 0.00
Dividend Cover Absolute 3.93 1.97 1.74 1.33 1.29
Book Value per Share USD 6.99 7.34 7.54 6.94 5.91
Cash Value per Share USD 2.80 1.89 2.37 2.05 1.69
Profitability Ratios
Gross Margin % 60.32 60.68 61.11 60.53 60.67
Operating Margin % 23.03 22.90 21.04 19.70 20.61
Net Profit Margin % 18.78 18.32 15.43 16.60 15.59
Profit Markup % 152.02 154.35 157.13 153.37 154.25
PBT Margin (Profit Before Tax) % 24.59 24.50 20.27 21.68 19.43
Return on Equity % 27.13 27.51 25.88 23.41 28.77
Return on Capital Employed % 19.23 18.95 17.24 16.22 13.84
Return on Assets % 10.73 10.47 9.53 7.71 8.17
Return on Fixed Assets % 19.66 19.80 18.26 16.39 15.42
Return on Working Capital % 882.37 441.01 307.13 1,581.05 134.98
Cost Ratios
Operating Costs (% of Sales) % 76.97 77.10 78.96 80.30 79.39
Administration Costs (% of Sales) % 36.88 36.81 37.55 37.14 36.46
Liquidity Ratios
Current Ratio Absolute 1.05 1.09 1.13 1.02 1.24
Quick Ratio Absolute 0.92 0.97 1.01 0.92 1.13
Cash Ratio Absolute 0.58 0.59 0.73 0.67 0.74
Leverage Ratios
Debt to Equity Ratio Absolute 0.90 0.99 1.12 1.38 1.73
Net Debt to Equity Absolute 0.50 0.74 0.80 1.08 1.44
Debt to Capital Ratio Absolute 0.51 0.56 0.60 0.70 0.70
Efficiency Ratios

The Coca-Cola Company Page 46


MarketLine
The Coca-Cola Company
Financial Overview

Asset Turnover Absolute 0.58 0.56 0.52 0.50 0.49


Fixed Asset Turnover Absolute 3.12 3.32 3.13 3.14 3.52
Inventory Turnover Absolute 5.89 5.84 5.62 5.77 6.02
Current Asset Turnover Absolute 1.83 1.58 1.50 1.39 1.33
Capital Employed Turnover Absolute 1.47 1.46 1.41 1.52 1.73
Working Capital Turnover Absolute 38.34 19.15 13.41 75.16 6.85
Revenue per Employee USD 0.00 0.00 0.00 0.00 0.00
Net Income per Employee USD 0.00 0.00 0.00 0.00 0.00
Capex to Sales % 0.00 0.00 0.00 0.00 0.00
R&D to Sales % 0.00 0.00 0.00 0.00 0.00

The Coca-Cola Company Page 47


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