Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $)
In Millions, except Per Share data
 3 Months Ended 6 Months Ended
Jul. 01, 2011
Jul. 02, 2010
Jul. 01, 2011
Jul. 02, 2010
NET OPERATING REVENUES $ 12,737 $ 8,674 $ 23,254 $ 16,199
Cost of goods sold 4,989 2,955 8,938 5,496
GROSS PROFIT 7,748 5,719 14,316 10,703
Selling, general and administrative expenses 4,422 2,878 8,502 5,583
Other operating charges 152 78 361 174
OPERATING INCOME 3,174 2,763 5,453 4,946
Interest income 121 67 215 127
Interest expense 84 81 197 166
Equity income (loss) - net 221 356 355 492
Other income (loss) - net 362 18 479 (97)
INCOME BEFORE INCOME TAXES 3,794 3,123 6,305 5,302
Income taxes 990 741 1,588 1,294
CONSOLIDATED NET INCOME 2,804 2,382 4,717 4,008
Less: Net income attributable to noncontrolling interests 7 13 20 25
NET INCOME ATTRIBUTABLE TO SHAREOWNERS OF THE COCA-COLA COMPANY $ 2,797 $ 2,369 $ 4,697 $ 3,983
BASIC NET INCOME PER SHARE (in dollars per share) $ 1.22 [1] $ 1.03 [1] $ 2.05 [1] $ 1.73 [1]
DILUTED NET INCOME PER SHARE (in dollars per share) $ 1.20 [1] $ 1.02 [1] $ 2.02 [1] $ 1.71 [1]
DIVIDENDS PER SHARE (in dollars per share) $ 0.47 $ 0.44 $ 0.94 $ 0.88
AVERAGE SHARES OUTSTANDING (in shares) 2,290 2,306 2,291 2,305
Effect of dilutive securities (in shares) 40 19 39 21
AVERAGE SHARES OUTSTANDING ASSUMING DILUTION (in shares) 2,330 2,325 2,330 2,326
[1] Basic net income per share and diluted net income per share are calculated based on net income attributable to shareowners of The Coca-Cola Company.