Exhibit 99.1

 

The Coca-Cola Company and Subsidiaries

Reclassified Operating Segment Data

Unaudited

 

Unit Case Volume Growth Rate Based on Average Daily Sales (1)

 

																										% of Unit  Case Volume
		Q1 06		Q2 06		Q3 06		Q4 06		FY 06		Q1 07		Q2 07		Q3 07		Q4 07		FY 07		Q1 08		Q2 08		FY 06		FY 07
Eurasia & Africa		5	%	8	%	10	%	9	%	8	%	15	%	11	%	13	%	10	%	12	%	5	%	6	%	14	%	15	%
Europe		3		4		11		8		7		12		7		—		3		5		4		—		17		17
Latin America		7		7		7		7		7		7		9		9		10		9		9		7		26		27
North America		2		2		(1	)	(2	)	—		(3	)	(2	)	1		1		(1	)	—		—		27		25
Pacific		7		(2	)	1		—		1		5		9		11		3		7		10		4		16		16
Worldwide		5		4		5		4		4		6		6		6		5		6		6		3		100		100

 

Concentrate Sales Volume Growth Rate (2)

 

		Q1 06		Q2 06		Q3 06		Q4 06		FY 06		Q1 07		Q2 07		Q3 07		Q4 07		FY 07		Q1 08		Q2 08
Eurasia & Africa		5	%	10	%	9	%	1	%	6	%	16	%	12	%	10	%	12	%	12	%	11	%	10	%
Europe		—		7		12		3		6		15		5		(1	)	—		5		2		(1	)
Latin America		5		7		8		10		7		10		9		12		6		9		5		5
North America		3		4		(2	)	(4	)	—		(5	)	(1	)	2		4		—		2		(3	)
Pacific		7		(4	)	1		2		1		2		14		13		(1	)	7		8		3
Worldwide		4		4		5		1		4		6		7		6		6		6		5		3

 

The Reclassified Operating Segment Data reflect changes in the Company’s operating structure which became effective July 1, 2008.

 

For additional information about our sales volume, refer to page 42 of our 2007 Annual Report on Form 10-K filed on February 28, 2008.

 

(1) Unit case volume percentage change is based on average daily sales. Unit case volume growth based on average daily sales is computed by comparing the average daily sales in each of the corresponding periods. Average daily sales for each quarter are the unit cases sold during the quarter divided by the number of days in the quarter.

 

 (2) Unit case volume and concentrate sales volume growth rates are not necessarily equal during any given period. Items such as seasonality, bottlers’ inventory practices, supply point changes, timing of price increases, new product introductions and changes in product mix can impact unit case volume and concentrate sales volume and can create differences between unit case volume and concentrate sales volume growth rates.

 

 

The Coca-Cola Company and Subsidiaries

Reclassified Operating Segment Data (1)

Unaudited

In Millions

 

		Q1 06			Q2 06			Q3 06			Q4 06			FY 06			Q1 07			Q2 07			Q3 07			Q4 07			FY 07			Q1 08			Q2 08
Net Operating Revenues – Third Party
Eurasia & Africa		$	387		$	448		$	412		$	433		$	1,680		$	432		$	505		$	459		$	545		$	1,941		$	520		$	601
Europe		762			1,137			1,089			886			3,874			985			1,325			1,153			984			4,447			1,123			1,444
Latin America		572			593			624			695			2,484			681			757			791			840			3,069			844			897
North America		1,645			1,909			1,809			1,650			7,013			1,665			2,062			2,160			1,874			7,761			1,884			2,240
Pacific		869			1,065			1,108			948			3,990			889			1,035			1,094			979			3,997			913			1,227
Bottling Investments		971			1,302			1,388			1,293			4,954			1,437			2,031			2,016			2,086			7,570			2,067			2,608
Corporate		20			22			24			27			93			14			18			17			23			72			28			29
		$	5,226		$	6,476		$	6,454		$	5,932		$	24,088		$	6,103		$	7,733		$	7,690		$	7,331		$	28,857		$	7,379		$	9,046
Net Operating Revenues – Intersegment
Eurasia & Africa		$	25		$	40		$	35		$	24		$	124		$	34		$	55		$	45		$	34		$	168		$	41		$	66
Europe		150			190			203			160			703			168			216			231			230			845			231			299
Latin America		31			29			30			42			132			38			22			44			71			175			57			63
North America		—			—			—			16			16			16			21			26			12			75			14			16
Pacific		17			14			26			71			128			50			135			112			112			409			91			97
Bottling Investments		12			27			35			15			89			20			45			42			18			125			22			93
		$	235		$	300		$	329		$	328		$	1,192		$	326		$	494		$	500		$	477		$	1,797		$	456		$	634
Net Operating Revenues – Total
Eurasia & Africa		$	412		$	488		$	447		$	457		$	1,804		$	466		$	560		$	504		$	579		$	2,109		$	561		$	667
Europe		912			1,327			1,292			1,046			4,577			1,153			1,541			1,384			1,214			5,292			1,354			1,743
Latin America		603			622			654			737			2,616			719			779			835			911			3,244			901			960
North America		1,645			1,909			1,809			1,666			7,029			1,681			2,083			2,186			1,886			7,836			1,898			2,256
Pacific		886			1,079			1,134			1,019			4,118			939			1,170			1,206			1,091			4,406			1,004			1,324
Bottling Investments		983			1,329			1,423			1,308			5,043			1,457			2,076			2,058			2,104			7,695			2,089			2,701
Corporate		20			22			24			27			93			14			18			17			23			72			28			29
Eliminations		(235		)	(300		)	(329		)	(328		)	(1,192		)	(326		)	(494		)	(500		)	(477		)	(1,797		)	(456		)	(634		)
		$	5,226		$	6,476		$	6,454		$	5,932		$	24,088		$	6,103		$	7,733		$	7,690		$	7,331		$	28,857		$	7,379		$	9,046
Operating Income (Loss)
Eurasia & Africa		$	148		$	178		$	114		$	152		$	592		$	160		$	185		$	134		$	188		$	667		$	227		$	269
Europe		474			722			664			501			2,361			643			885			698			549			2,775			735			1,016
Latin America		349			346			353			390			1,438			415			413			430			491			1,749			506			531
North America		388			493			383			419			1,683			347			500			447			402			1,696			324			457
Pacific		363			492			421			374			1,650			372			506			428			393			1,699			388			604
Bottling Investments		(57		)	87			47			(59		)	18			(2		)	75			58			22			153			17			156
Corporate		(270		)	(279		)	(320		)	(565		)	(1,434		)	(308		)	(294		)	(366		)	(519		)	(1,487		)	(323		)	(354		)
		$	1,395		$	2,039		$	1,662		$	1,212		$	6,308		$	1,627		$	2,270		$	1,829		$	1,526		$	7,252		$	1,874		$	2,679

 

 

Income (Loss) Before Income Taxes
Eurasia & Africa		$	155		$	184		$	117		$	163		$	619		$	161		$	195		$	144		$	196		$	696		$	223		$	271
Europe		480			728			664			508			2,380			651			892			708			545			2,796			742			1,027
Latin America		349			345			350			389			1,433			415			412			430			495			1,752			504			534
North America		389			495			386			420			1,690			348			498			452			402			1,700			325			462
Pacific		363			485			417			368			1,633			367			497			424			377			1,665			383			597
Bottling Investments		18			330			253			(534		)	67			7			247			308			199			761			155			(711		)
Corporate		(279		)	(176		)	(361		)	(428		)	(1,244		)	(220		)	(333		)	(353		)	(591		)	(1,497		)	(384		)	(284		)
		$	1,475		$	2,391		$	1,826		$	886		$	6,578		$	1,729		$	2,408		$	2,113		$	1,623		$	7,873		$	1,948		$	1,896

 

The Reclassified Operating Segment Data reflect changes in the Company’s operating structure which became effective July 1, 2008. Additionally, certain other prior year amounts have been reclassified to conform to the current year presentation.

 

 (1) Refer to the Items Impacting Comparability Schedule which follows for additional information.

 

 

The Coca-Cola Company and Subsidiaries

Reclassified Operating Segment Data

Items Impacting Comparability Schedule

Unaudited

 

2006

 

In the first quarter of 2006, the Company recorded the following transactions which impacted results:

 

·      An approximate $42 million charge for Bottling Investments primarily related to the impairment of certain assets and investments. 

 

·      An approximate $3 million charge for Pacific primarily related to restructuring costs.

 

·      A charge of approximately $9 million for Bottling Investments related to our proportionate share of restructuring costs recorded by Coca-Cola Enterprises Inc. (“CCE”).

 

In the second quarter of 2006, the Company recorded the following transactions which impacted results:

 

·      A net gain of approximately $123 million for Corporate related to the sale of a portion of our investment in Coca-Cola Icecek in an initial public offering.

 

·      Charges of approximately $27 million for Europe, $2 million for Pacific and $2 million for Bottling Investments primarily related to costs associated with production capacity efficiencies and other restructuring costs.

 

·      An approximate $21 million benefit for Bottling Investments for our proportionate share of favorable changes in certain of CCE's state and Canadian federal and provincial tax rates.

 

In the third quarter of 2006, the Company recorded the following transactions which impacted results:

 

·      Charges of approximately $1 million for Eurasia and Africa, $7 million for Europe, $15 million for Pacific and $16 million for Bottling Investments primarily related to the impairment of certain intangible assets and investments in certain bottling operations, and costs to rationalize production and other restructuring costs.

 

·      A charge of approximately $3 million for Bottling Investments related to our proportionate share of items impacting equity method investees.

 

In the fourth quarter of 2006, the Company recorded the following transactions which impacted results:

 

·      A charge of approximately $615 million for Bottling Investments related to our proportionate share of CCE’s impairment charges and restructuring charges recorded by other equity method investees, partially offset by our proportionate share of changes in certain of CCE’s state and Canadian federal and provincial tax rates. 

 

·      Charges of approximately $2 million for Eurasia and Africa, $2 million for Europe, $42 million for Pacific, $27 million for Bottling Investments and $1 million for Corporate primarily related to restructuring costs and asset impairments.

 

·      A charge of $100 million for Corporate related to a donation made to The Coca-Cola Foundation.

 

·      A net gain of approximately $175 million for Corporate related to the sale of Coca-Cola FEMSA, S.A.B. de C.V. shares (“Coca-Cola FEMSA”).

 

 

2007

 

In the first quarter of 2007, the Company recorded the following transactions which impacted results:

 

·      An approximate $67 million charge for Bottling Investments for our proportionate share of an asset write-down related to excess and obsolete bottles and cases at Coca-Cola Bottlers Philippines, Inc.

 

·      A net gain of approximately $137 million for Corporate primarily due to the sale of real estate in Spain and the sale of our equity ownership in Vonpar Refrescos S.A.  

 

·      An approximate $6 million charge for Bottling Investments due to our proportionate share of CCE’s restructuring costs.

 

·      Charges of approximately $2 million for Eurasia and Africa, $6 million for Bottling Investments and $2 million for Corporate as a result of asset impairments and restructuring costs.

 

In the second quarter of 2007, the Company recorded the following transactions which impacted results:

 

·      Charges of approximately $18 million for Eurasia and Africa, $5 million for Europe, $2 million for Latin America, $1 million for Pacific and $23 million for Bottling Investments, primarily related to asset impairments and restructuring costs, partially offset by $1 million for Corporate.

 

·      A charge of approximately $89 million for Bottling Investments primarily due to our proportionate share of asset write-downs and restructuring charges recorded by equity method investees.

 

In the third quarter of 2007, the Company recorded the following transactions which impacted results:

 

·      Charges of approximately $15 million for Eurasia and Africa, $7 million for Europe, $1 million for Latin America, $13 million for North America, $14 million for Bottling Investments and $34 million for Corporate primarily due to restructuring costs and asset write-downs.

 

·      A net gain of approximately $73 million for Corporate on the sale of Coca-Cola Amatil Limited shares.

 

·      A net gain of approximately $21 million for Bottling Investments, primarily due to our proportionate share of tax benefits recorded by an equity method investee, which was partially offset by asset write-downs and restructuring costs recorded by equity method investees.

 

In the fourth quarter of 2007, the Company recorded the following transactions which impacted results:

 

·      Charges of approximately $2 million for Eurasia and Africa, $21 million for Europe, $1 million for Latin America, $10 million for North America, $2 million for Pacific, $4 million for Bottling Investments and $86 million for Corporate primarily due to asset write-downs and restructuring costs.

 

·      A net charge of approximately $9 million for Bottling Investments, primarily due to our proportionate share of asset write-downs and restructuring costs recorded by equity method investees, which was partially offset by tax benefits recorded by equity method investees.

 

·      A net gain of approximately $18 million for Corporate on the sale of real estate.

 

2008

 

In the first quarter of 2008, the Company recorded the following transactions which impacted results:

 

·      Charges of approximately $2 million for North America and $76 million for Corporate, primarily due to restructuring costs and asset write-downs.

 

·      A net gain of approximately $5 million for Bottling Investments related to our proportionate share of one-time adjustments recorded by equity method investees.

 

 

In the second quarter of 2008, the Company recorded the following transactions which impacted results:

 

·      Charges of approximately $4 million for North America, $5 million for Bottling Investments and $88 million for Corporate primarily due to restructuring costs, contract termination costs and asset write-downs.

 

·      A charge of approximately $1.1 billion for Bottling Investments primarily as a result of our proportionate share of an impairment charge recorded by CCE.

 

·      A net gain of approximately $102 million for Bottling Investments and Corporate primarily due to the sale of Refrigerantes Minas Gerais Ltda. to Coca-Cola FEMSA.