Annual report pursuant to Section 13 and 15(d)

REVENUE RECOGNITION Revenue Recognition (Tables)

v3.10.0.1
REVENUE RECOGNITION Revenue Recognition (Tables)
12 Months Ended
Dec. 31, 2018
Revenue from Contract with Customer [Abstract]  
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]
The following tables compare the amounts reported in the consolidated statement of income and consolidated balance sheet to the amounts had the previous revenue recognition guidance been in effect (in millions):
 
Year Ended December 31, 2018
 
 
As Reported

Balances without Adoption of ASC 606

Increase (Decrease) Due to Adoption

 
Net operating revenues
$
31,856

$
31,191

$
665

1 
Cost of goods sold
11,770

10,930

840

1 
Gross profit
20,086

20,261

(175
)
 
Selling, general and administrative expenses
10,307

10,488

(181
)
 
Operating income
8,700

8,694

6

 
Income from continuing operations before income taxes
8,350

8,344

6

 
Income taxes from continuing operations
1,623

1,626

3

 
Net income from continuing operations
6,727

6,718

9

 
Income (loss) from discontinued operations
(251
)
(253
)
2

 
Consolidated net income
6,476

6,465

11

 
Net income attributable to shareowners of The Coca-Cola Company
6,434

6,423

11

 
1 The increase was primarily due to the reclassification of shipping and handling costs.

 
December 31, 2018
 
 
As Reported

Balances without Adoption of ASC 606

Increase (Decrease) Due to Adoption

 
ASSETS


 
 
 
Trade accounts receivable
$
3,396

$
3,302

$
94

1 
Prepaid expenses and other assets
1,962

1,970

(8
)
 
Total current assets
30,634

30,548

86

 
Deferred income tax assets
2,667

2,649

18

 
Total assets
83,216

83,112

104

 
LIABILITIES AND EQUITY


 
 
 
Accounts payable and accrued expenses
$
8,932

$
8,513

$
419

2 
Total current liabilities
29,223

28,804

419

 
Deferred income tax liabilities
1,933

2,002

(69
)
 
Reinvested earnings
63,234

63,480

(246
)
 
Total equity
19,058

19,304

(246
)
 
Total liabilities and equity
83,216

83,112

104

 
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.

Disaggregation of Revenue [Table Text Block]
The following table presents net operating revenues disaggregated between the United States and International and further by line of business (in millions):
 
United States

International

Total

Year Ended December 31, 2018
 
 
 
Concentrate operations
$
4,571

$
15,886

$
20,457

Finished product operations
6,773

4,626

11,399

Total
$
11,344

$
20,512

$
31,856