The Coca-Cola Company Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Debt and Borrowing Arrangements

Debt and Borrowing Arrangements

9 Months Ended

Sep. 28, 2018

Debt and Borrowing Arrangements Disclosure [Abstract]

DEBT AND BORROWING ARRANGEMENTS

During the nine months ended September 28, 2018, the Company retired upon maturity $2,026 million total principal amount of notes and debentures. The general terms of the notes and debentures retired are as follows:


•	$26 million total principal amount of debentures due January 29, 2018, at a fixed interest rate of 9.66 percent;


•	$750 million total principal amount of notes due March 14, 2018, at a fixed interest rate of 1.65 percent; and


•	$1,250 million total principal amount of notes due April 1, 2018, at a fixed interest rate of 1.15 percent.

The Company also extinguished a portion of the long-term debt that was assumed in connection with our acquisition of Coca‑Cola Enterprises Inc.'s former North America business ("Old CCE"). The extinguished notes had a total principal amount of $94 million that was due to mature on May 15, 2098, at a fixed interest rate of 7.00 percent. Related to this extinguishment, the Company recorded a net gain of $27 million in the line item interest expense in our condensed consolidated statements of income during the three and nine months ended September 28, 2018.