| Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] |
The following tables compare the amounts reported in the condensed consolidated statement of income and condensed consolidated balance sheet to the amounts had the previous revenue recognition guidance been in effect (in millions):
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 30, 2018 |
|
|
As Reported |
|
Balances without Adoption of ASC 606 |
|
Increase (Decrease) Due to Adoption |
|
|
Net operating revenues |
$ |
7,626 |
|
$ |
7,435 |
|
$ |
191 |
|
1 |
Cost of goods sold |
2,738 |
|
2,547 |
|
191 |
|
|
Gross profit |
4,888 |
|
4,888 |
|
— |
|
|
Selling, general and administrative expenses |
2,541 |
|
2,540 |
|
1 |
|
|
Operating income |
1,811 |
|
1,812 |
|
(1 |
) |
|
Income from continuing operations before income taxes |
1,833 |
|
1,834 |
|
(1 |
) |
|
Income taxes from continuing operations |
506 |
|
506 |
|
— |
|
|
Net income from continuing operations |
1,327 |
|
1,328 |
|
(1 |
) |
|
Income from discontinued operations |
73 |
|
70 |
|
3 |
|
|
Consolidated net income |
1,400 |
|
1,398 |
|
2 |
|
|
Net income attributable to shareowners of The Coca-Cola Company |
1,368 |
|
1,366 |
|
2 |
|
|
1 The increase in net operating revenues was primarily due to the reclassification of shipping and handling costs.
|
|
|
|
|
|
|
|
|
|
|
|
|
March 30, 2018 |
|
|
As Reported |
|
Balances without Adoption of ASC 606 |
|
Increase (Decrease) Due to Adoption |
|
|
ASSETS |
|
|
|
|
Trade accounts receivable |
$ |
3,904 |
|
$ |
3,796 |
|
$ |
108 |
|
1 |
Prepaid and other assets |
2,449 |
|
2,456 |
|
(7 |
) |
|
Total current assets |
38,042 |
|
37,941 |
|
101 |
|
|
|
Deferred income tax assets
|
3,298 |
|
3,238 |
|
60 |
|
|
Total assets |
93,282 |
|
93,121 |
|
161 |
|
|
LIABILITIES AND EQUITY |
|
|
|
|
|
Accounts payable and accrued expenses |
$ |
10,218 |
|
$ |
9,762 |
|
$ |
456 |
|
2 |
Total current liabilities |
31,480 |
|
31,024 |
|
456 |
|
|
Deferred income tax liabilities |
2,314 |
|
2,354 |
|
(40 |
) |
|
Reinvested earnings |
63,150 |
|
63,405 |
|
(255 |
) |
|
Total equity |
21,617 |
|
21,872 |
|
(255 |
) |
|
Total liabilities and equity |
93,282 |
|
93,121 |
|
161 |
|
|
|
|
1 |
The increase was primarily due to incremental estimated variable consideration receivables from third-party customers. |
|
|
2 |
The increase was primarily due to incremental estimated variable consideration payables due to third-party customers. |
|