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
3 Months Ended 6 Months Ended
Jun. 26, 2020
Jun. 28, 2019
Jun. 26, 2020
Jun. 28, 2019
Revenues $ 7,150 $ 9,997 $ 15,751 $ 18,691
Cost of Goods Sold 3,013 3,921 6,384 7,286
GROSS PROFIT 4,137 6,076 9,367 11,405
Selling, general and administrative expenses 1,983 2,996 4,631 5,763
Other operating charges 173 92 375 219
OPERATING INCOME 1,981 2,988 4,361 5,423
Interest income 100 142 212 275
Interest expense 274 236 467 481
Equity income (loss) - net 176 329 343 462
Other income (loss) — net 214 (174) 758 (405)
INCOME BEFORE INCOME TAXES 2,197 3,049 5,207 5,274
Income taxes 438 421 653 943
CONSOLIDATED NET INCOME 1,759 2,628 4,554 4,331
Net Income (Loss) Attributable to Noncontrolling Interest (20) 21 0 46
NET INCOME ATTRIBUTABLE TO SHAREOWNERS OF THE COCA-COLA COMPANY $ 1,779 $ 2,607 $ 4,554 $ 4,285
BASIC NET INCOME PER SHARE (in dollars per share) $ 0.41 $ 0.61 $ 1.06 $ 1.00
DILUTED NET INCOME PER SHARE (in dollars per share) $ 0.41 $ 0.61 $ 1.05 $ 1.00
AVERAGE SHARES OUTSTANDING (in shares) 4,295,000,000 4,269,000,000 4,292,000,000 4,270,000,000
Effect of dilutive securities (in shares) 21,000,000 36,000,000 29,000,000 35,000,000
AVERAGE SHARES OUTSTANDING ASSUMING DILUTION (in shares) 4,316,000,000 4,305,000,000 4,321,000,000 4,305,000,000