The Coca-Cola Company 2009 Third Quarter and Year-to-Date Results

Today, our Company reports continued growth in worldwide unit case volume, which drove gains in global volume and value share, with year-to-date revenue growth in line with our long-term target and profit growth exceeding our long-term target.

    --  International unit case volume growth of 4 percent in the quarter and
        year-to-date led to solid worldwide unit case volume growth of 2 percent
        in the quarter and year-to-date.
    --  Third quarter reported EPS was $0.81, even with the prior year quarter.
        Comparable EPS was $0.82, down 1 percent versus the prior year quarter
        reflecting a negative currency impact.
    --  Reported operating income decreased 2 percent in the quarter and
        decreased 4 percent year-to-date. Comparable currency neutral operating
        income growth of 9 percent in the quarter and year-to-date, exceeding
        our long-term growth target.
    --  Strong cash generation, with year-to-date cash from operations of $6.3
        billion, an increase of 11 percent versus the prior year period.
    --  Global volume and value share gains continued for the ninth consecutive
        quarter.
    --  Productivity initiatives well on track to achieve $500 million in
        annualized savings by year-end 2011; with plans to deliver more than
        half of the savings by year-end 2009.

ATLANTA--(BUSINESS WIRE)-- The Coca-Cola Company reports sound third quarter 2009 operating results with unit case volume increasing 2 percent, successfully cycling 5 percent growth in the prior year quarter. Internationally, we achieved broad-based unit case volume growth of 4 percent, cycling 7 percent growth in the prior year quarter. In the quarter, unit case volume growth increased strongly in key emerging markets with 37 percent growth in India, 15 percent growth in China and 3 percent growth in Brazil.

Globally, we gained volume and value share in nonalcoholic ready-to-drink beverages for the ninth consecutive quarter. The global "Open Happiness" campaign continued to fuel growth of brand Coca-Cola. Notably, brand Coca-Cola unit case volume growth was strong, up 2 percent in the quarter, across both developed and emerging markets including 8 percent growth in Mexico, 6 percent growth in Italy, 27 percent growth in India and 3 percent growth in China. Total sparkling beverage unit case volume increased 1 percent in the quarter, with international sparkling beverage unit case volume increasing 2 percent, cycling 5 percent growth in the prior year quarter. Total still beverage unit case volume increased 7 percent in the quarter, led by sound growth across the portfolio, including juices and fruit stills, teas and water brands. Still beverage unit case volume increased 10 percent internationally and was even in North America.

"I am pleased to report that we have again delivered solid results this quarter," said Muhtar Kent, chairman and chief executive officer, The Coca-Cola Company. "We continue to grow our currency neutral revenues, gain global nonalcoholic ready-to-drink volume and value share, expand our margins and invest in our business, all while generating tremendous cash flow. The fundamentals of our business remain strong and our franchise system is delivering results that keep us on track to achieve our long-term growth expectations. Although we expect the consumer to continue facing economic uncertainties into 2010 and for consumer sentiment to recover slowly, we believe more than ever that we have the right strategies being executed, the right leadership team in place and have taken the right actions this year to drive continued growth and to make the most of the abundant opportunities before us."

"This is a dynamic time in the history and evolution of our Company," said Mr. Kent. "With our 2020 Vision, we have a clear Coca-Cola system vision for the future of our business, and we are applying that vision in our strategic planning, system alignment and focused execution. Each day we work diligently to make our Company stronger for the future and to ensure that we continue driving long-term sustainable results, while delivering the beverages that consumers love."

FINANCIAL HIGHLIGHTS

    --  Year-to-date reported net revenues decreased 5 percent. After excluding
        structural items, year-to-date net revenues increased 5 percent on a
        comparable currency neutral basis, in line with our long-term growth
        target.
    --  Year-to-date reported operating income decreased 4 percent. With
        continued focus on cost management and by leveraging our productivity
        initiatives, year-to-date operating income increased 9 percent on a
        comparable currency neutral basis, exceeding our long-term growth
        target.
    --  Year-to-date cash from operations increased to $6.3 billion, and we
        repurchased $241 million of our stock in the third quarter.

OPERATING REVIEW

                       Three Months Ended October 2, 2009

                       % Favorable / (Unfavorable)

                                                              Comparable

                                                              Currency
                       Unit Case                  Operating
                                   Net Revenues               Neutral
                       Volume                     Income
                                                              Operating

                                                              Income

Total Company          2           (4)            (2)         9

Eurasia & Africa       2           (9)            2           13

Europe                 (2)         (10)           (3)         7

Latin America          7           (3)            0           18

North America          (4)         (2)            10          9

Pacific                6           (1)            (10)        (17)

Bottling Investments   4           (4)            26          56



                       Nine Months Ended October 2, 2009

                       % Favorable / (Unfavorable)

                                                              Comparable

                                                              Currency
                       Unit Case                  Operating
                                   Net Revenues               Neutral
                       Volume                     Income
                                                              Operating

                                                              Income

Total Company          2           (5)            (4)         9

Eurasia & Africa       4           (9)            (6)         13

Europe                 (1)         (13)           (9)         4

Latin America          6           (5)            (7)         15

North America          (2)         1              12          13

Pacific                5           4              1           (3)

Bottling Investments   (1)         (12)           (43)        24



Eurasia & Africa

    --  Our Eurasia and Africa Group's unit case volume increased 2 percent in
        the quarter, cycling 9 percent growth in the prior year quarter.
        Year-to-date unit case volume increased 4 percent, cycling 7 percent
        growth in the prior year period. Net revenues for the quarter decreased
        9 percent, reflecting a 6 percent increase in concentrate sales offset
        by a double-digit negative impact from currencies and negative pricing
        and mix. Reported operating income increased 2 percent in the quarter.
        Comparable currency neutral operating income increased 13 percent due to
        the increase in concentrate sales and tight expense management.
    --  In Eurasia and Africa, sparkling beverages increased 1 percent and still
        beverages increased 7 percent in the quarter. The growth in unit case
        volume was led by a 37 percent increase in India, which cycled an 18
        percent increase in the prior year. Africa also reported strong unit
        case volume growth in the quarter with the East and Central Region
        growing 11 percent, cycling 7 percent growth in the prior year, and the
        North and West Region growing 5 percent, cycling 9 percent growth in the
        prior year. Reflecting the impact of a continued challenging economic
        environment, Russia reported a double-digit unit case volume decline but
        gained share in nonalcoholic ready-to-drink beverages.
    --  In the quarter, Eurasia and Africa gained volume and value share in
        nonalcoholic ready-to-drink beverages. India gained volume and value
        share across most categories including sparkling, still and juice and
        juice drinks.

Europe

    --  Our Europe Group's unit case volume decreased 2 percent in the quarter,
        cycling 3 percent growth in the prior year quarter, reflecting a
        challenging macroeconomic environment. Year-to-date unit case volume
        decreased 1 percent, cycling 2 percent growth in the prior year period.
        Net revenues for the quarter decreased 10 percent, primarily driven by a
        double-digit negative impact from currencies and a 1 percent decrease in
        concentrate sales, partially offset by positive pricing and mix.
        Reported operating income decreased 3 percent in the quarter. Comparable
        currency neutral operating income increased 7 percent benefiting from
        tight expense management.
    --  Unit case volume growth in Northwest Europe was offset by weakness in
        Spain and Eastern Europe due to significant macroeconomic challenges in
        those regions.
    --  In the quarter, Europe gained volume and value share in nonalcoholic
        ready-to-drink beverages and gained value share across all key
        countries.

Latin America

    --  Our Latin America Group continued to deliver strong unit case volume
        growth with 7 percent growth in the quarter, cycling 8 percent growth in
        the prior year quarter. Year-to-date unit case volume increased 6
        percent, cycling 8 percent growth in the prior year period. Net revenues
        for the quarter decreased 3 percent, primarily due to a double-digit
        negative impact from currencies, partially offset by a 6 percent
        increase in concentrate sales and a double-digit positive impact from
        pricing and mix. Reported operating income was even with the prior year
        quarter. Comparable currency neutral operating income increased 18
        percent primarily reflecting the higher concentrate sales and positive
        pricing and mix partially offset by continued investment in key
        marketing and business initiatives.
    --  Strong unit case volume growth in the quarter was led by a 9 percent
        increase in Mexico, a 3 percent increase in Brazil and an 11 percent
        increase in our Latin Center Region.
    --  Latin America delivered growth across the portfolio with sparkling
        beverages increasing 4 percent and still beverages increasing 21 percent
        in the quarter. Notably, brand Coca-Cola and Trademark Coca-Cola both
        grew 5 percent in the quarter.
    --  In the quarter, the Latin America Group gained volume and value share in
        both the sparkling and still categories.

North America

    --  Our North America Group's unit case volume declined 4 percent in the
        quarter primarily due to the shift of the July 4th holiday volume from
        the third quarter into the second quarter, an aggressive competitive
        pricing environment within still beverages and the continuing difficult
        macroeconomic environment. Year-to-date unit case volume decreased 2
        percent. Net revenues for the quarter decreased 2 percent, reflecting a
        1 percent positive impact from pricing and mix offset by a 3 percent
        decrease in concentrate sales. Reported operating income increased 10
        percent in the quarter primarily reflecting lower cost of goods sold
        attributable to lower commodity costs and the benefits of our ongoing
        productivity initiatives.
    --  Unit case volume for sparkling beverages declined 5 percent in the
        quarter as we cycle the industry-leading bottler pricing taken in the
        latter part of 2008; however, brand health scores continued to improve.
        Importantly, Coca-Cola Zero delivered double-digit unit case volume
        growth in the quarter, achieving 14 consecutive quarters of double-digit
        growth.
    --  Still beverage unit case volume was even in the quarter. Still volume in
        our Foodservice and Hospitality business continued to grow, driven by
        innovation and new segmented customer offerings in our tea portfolio.
    --  In the quarter, North America gained significant value share in
        nonalcoholic ready-to-drink beverages for the fourth consecutive
        quarter. Still beverages gained volume share for the ninth consecutive
        quarter and gained value share for the fourth consecutive quarter, led
        by strong performance in our Foodservice and Hospitality business and
        Trademark Simply. Trademark Simply continued to perform strongly with
        new flavor innovations and expanded availability, contributing to share
        gains in the juice and juice drinks category.

Pacific

    --  Our Pacific Group delivered unit case volume growth of 6 percent in the
        quarter, cycling 7 percent growth in the prior year quarter.
        Year-to-date unit case volume growth increased 5 percent, cycling 7
        percent growth in the prior year period. Net revenues for the quarter
        decreased 1 percent, reflecting a mid single-digit positive impact from
        currencies and a 3 percent increase in concentrate sales offset by
        negative country and channel mix. Reported operating income decreased 10
        percent in the quarter. Comparable currency neutral operating income
        decreased 17 percent primarily reflecting negative country and channel
        mix partially offset by higher concentrate sales.
    --  Pacific delivered unit case volume growth across the portfolio with
        sparkling beverages increasing 5 percent and still beverages increasing
        8 percent in the quarter. Importantly, Trademark Coca-Cola grew 4
        percent in the quarter.
    --  In China, unit case volume grew 15 percent in the quarter driven by
        double-digit growth in Trademark Sprite and Minute Maid, as well as mid
        single-digit growth in Trademark Coca-Cola, contributing to volume and
        value share gains across sparkling and still beverages.
    --  In Japan, unit case volume growth declined 4 percent in the quarter
        reflecting the weak economy and unfavorable weather. However, our
        business in Japan continued to outperform the nonalcoholic
        ready-to-drink industry, resulting in the sixth consecutive quarter of
        share gains. Importantly, Georgia Coffee unit case volume increased 1
        percent in the quarter driven by the introduction of additional
        low-calorie options and our new "Welcome to Georgia" campaign.

Bottling Investments

    --  Our Bottling Investments Group's unit case volume increased 4 percent in
        the quarter, primarily driven by strong growth in China, India and the
        Philippines, partially offset by the impact of the Pakistan bottler
        divestiture in the prior year. Net revenues for the quarter decreased 4
        percent, primarily reflecting the increase in unit case volume offset by
        a negative currency impact and the impact of the divestiture in the
        prior year. Reported operating income increased 26 percent in the
        quarter while comparable currency neutral operating income increased 56
        percent, primarily driven by favorable commodity costs and tight expense
        management.

FINANCIAL REVIEW

Net operating revenues for the quarter decreased 4 percent, driven by a 6 percent negative currency impact and a 1 percent negative impact from a structural change offset by a 2 percent increase in concentrate sales and a 1 percent positive impact from pricing and mix. The structural change relates to the divestiture of a portion of our ownership interest in the Pakistan bottler in 2008, which resulted in its deconsolidation. Excluding the impact of this divestiture, our comparable currency neutral net revenues increased 5 percent year-to-date, in line with our long-term growth target.

Cost of goods sold decreased 3 percent in the quarter. This decrease is primarily driven by the 2 percent increase in concentrate sales offset by a 3 percent impact from currencies and a 1 percent impact from the structural change related to our bottling investments.

Selling, general and administrative expenses decreased 7 percent in the quarter primarily driven by a 6 percent currency impact. In addition, the decrease was partly attributable to our more effective management of general and administrative expenses, the structural change related to bottling investments and a net decrease in incentive compensation expense partially offset by an increase in pension costs.

Reported and comparable operating income decreased 2 percent in the quarter. Items impacting comparability reduced operating income by $48 million in 2009 and by $47 million in 2008 and were primarily related to restructuring charges and costs related to global productivity initiatives. Comparable currency neutral operating income increased 9 percent in the quarter, exceeding our long-term growth target. Currency negatively impacted comparable operating income by 11 percent in the quarter. After considering current spot rates, the anticipated benefits of our hedging coverage and the cycling of prior year exchange rates, we expect currencies to have a low to mid single-digit positive impact on operating income in the fourth quarter of 2009.

For the third quarter of 2009, our reported earnings per share were $0.81, even with the third quarter of 2008. Reported earnings per share for the third quarter of 2009 and 2008 included a net charge of $0.01 and $0.02 per share, respectively, primarily due to restructuring charges and costs related to global productivity initiatives. The 2008 net charge also included a gain on the sale of a portion of our investment in the Pakistan bottler. After considering the items impacting comparability, earnings per share in the quarter were $0.82, a decrease of 1 percent versus the third quarter of 2008. Earnings per share continue to be negatively impacted by the relative strength of the U.S. dollar versus other currencies around the world.

Cash from operations was $6.3 billion year-to-date compared with $5.7 billion in the prior year period, an increase of 11 percent. This increase was driven by an improvement in working capital versus the prior year. In the third quarter, we repurchased $241 million of our stock, and we intend to repurchase up to $1 billion of stock by year end.

Effective Tax Rate

The Company's estimated effective tax rate reflects, among other items, our best estimates for 2009 operating results and foreign currency exchange rates. If actual results are different than these estimates, the underlying effective tax rate could change.

As discussed in the second quarter earnings release, we had previously estimated that the underlying effective tax rate on operations would be approximately 23.5 percent for the full year. We now anticipate that the underlying effective tax rate on operations for the full year 2009 will be approximately 23.0 percent. We are required to record income tax expense for the first nine months of the year based on the estimated effective tax rate for the full year. To bring the effective tax rate for the first nine months of 2009 in line with the current estimated full year underlying effective tax rate, we recorded income tax expense at an underlying effective tax rate of approximately 22.0 percent in the third quarter.

Our estimated underlying effective tax rate does not reflect the impact of significant or unusual items and discrete events, which, if and when they occur, are separately recognized in the appropriate period. The reported effective tax rate for the quarter was 21.4 percent.

Items Impacting Prior Year Results

Third quarter 2008 results included a net charge of $0.02 per share primarily due to restructuring charges and costs related to global productivity initiatives partially offset by a gain on the sale of a portion of our investment in the Pakistan bottler.

Second quarter 2008 results included a net charge of $0.40 per share primarily related to charges recorded by our equity method investees, restructuring charges and asset write-downs.

First quarter 2008 results included a net charge of $0.03 per share primarily related to restructuring charges and asset write-downs.

NOTES

    --  All references to growth rate percentages and share compare the results
        of the period to those of the prior year comparable period.
    --  All references to unit case volume percentage changes are computed based
        on average daily sales for all periods presented.
    --  2009 year-to-date results are positively impacted by five additional
        selling days, which will be offset by six fewer selling days in the
        fourth quarter.
    --  Our long-term growth targets as referenced in this release are on a
        comparable currency neutral basis and exclude structural changes.

CONFERENCE CALL

We are hosting a conference call with investors and analysts to discuss our 2009 third quarter and year-to-date results today at 9:30 a.m. (EDT). We invite investors to listen to the live audiocast of the conference call at our website, http://www.thecoca-colacompany.com/investors/index.html in the "Investors" section. A replay in downloadable MP3 format will also be available within 24 hours after the audiocast on our website. Further, the "Investors" section of our website includes a reconciliation of non-GAAP financial measures that may be used periodically by management when discussing our financial results with investors and analysts to our results as reported under GAAP.

THE COCA-COLA COMPANY AND SUBSIDIARIES

Condensed Consolidated Statements of Income

(UNAUDITED)

(In millions except per share data)

                                         Three Months Ended

                                         October 2,   September 26,
                                                                      % Change
                                         2009         2008

Net Operating Revenues                   $ 8,044      $ 8,393         (4  )

Cost of goods sold                         2,934        3,020         (3  )

Gross Profit                               5,110        5,373         (5  )

Selling, general and administrative        2,912        3,139         (7  )
expenses

Other operating charges                    48           47            --

Operating Income                           2,150        2,187         (2  )

Interest income                            67           105           (36 )

Interest expense                           89           111           (20 )

Equity income (loss) - net                 282          272           4

Other income (loss) - net                  33           17            --

Income Before Income Taxes                 2,443        2,470         (1  )

Income taxes                               523          555           (6  )

Consolidated Net Income                    1,920        1,915         0

Less: Net income attributable to           24           25            (4  )
noncontrolling interests

Net Income Attributable to Shareowners   $ 1,896      $ 1,890         0
of The Coca-Cola Company

Diluted Net Income Per Share*            $ 0.81       $ 0.81          0

Average Shares Outstanding - Diluted*      2,332        2,329

* For the three months ended October 2, 2009 and September 26, 2008, "Basic
Net Income Per Share" was $0.82 for 2009 and $0.82 for 2008 based on "Average
Shares Outstanding - Basic" of 2,316 for 2009 and 2,311 for 2008. 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.



THE COCA-COLA COMPANY AND SUBSIDIARIES

Condensed Consolidated Statements of Income

(UNAUDITED)

(In millions except per share data)

                                         Nine Months Ended

                                         October 2,   September 26,
                                                                      % Change
                                         2009         2008

Net Operating Revenues                   $ 23,480     $ 24,818        (5  )

Cost of goods sold                         8,437        8,806         (4  )

Gross Profit                               15,043       16,012        (6  )

Selling, general and administrative        8,380        9,030         (7  )
expenses

Other operating charges                    212          242           --

Operating Income                           6,451        6,740         (4  )

Interest income                            184          239           (23 )

Interest expense                           271          317           (15 )

Equity income (loss) - net                 609          (434   )      --

Other income (loss) - net                  13           118           --

Income Before Income Taxes                 6,986        6,346         10

Income taxes                               1,658        1,477         12

Consolidated Net Income                    5,328        4,869         9

Less: Net income attributable to           47           57            (18 )
noncontrolling interests

Net Income Attributable to Shareowners   $ 5,281      $ 4,812         10
of The Coca-Cola Company

Diluted Net Income Per Share*            $ 2.27       $ 2.06          10

Average Shares Outstanding - Diluted*      2,324        2,341

* For the nine months ended October 2, 2009 and September 26, 2008, "Basic Net
Income Per Share" was $2.28 for 2009 and $2.08 for 2008 based on "Average
Shares Outstanding - Basic" of 2,314 for 2009 and 2,316 for 2008. 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.



THE COCA-COLA COMPANY AND SUBSIDIARIES

Condensed Consolidated Balance Sheets

(UNAUDITED)

(In millions except par value)

                                             October 2, 2009   December 31, 2008

Assets

Current Assets

Cash and cash equivalents                    $ 8,846           $ 4,701

Marketable securities                          279               278

Trade accounts receivable, less allowances     3,465             3,090
of $57 and $51, respectively

Inventories                                    2,341             2,187

Prepaid expenses and other assets              2,061             1,920

Total Current Assets                           16,992            12,176

Equity Method Investments                      5,985             5,316

Other Investments, Principally Bottling        496               463
Companies

Other Assets                                   1,910             1,733

Property, Plant and Equipment - net            9,099             8,326

Trademarks With Indefinite Lives               6,147             6,059

Goodwill                                       4,100             4,029

Other Intangible Assets                        2,378             2,417

Total Assets                                 $ 47,107          $ 40,519

Liabilities and Equity

Current Liabilities

Accounts payable and accrued expenses        $ 6,755           $ 6,205

Loans and notes payable                        6,136             6,066

Current maturities of long-term debt           50                465

Accrued income taxes                           469               252

Total Current Liabilities                      13,410            12,988

Long-Term Debt                                 5,028             2,781

Other Liabilities                              3,124             3,011

Deferred Income Taxes                          1,123             877

The Coca-Cola Company Shareowners' Equity

Common stock, $0.25 par value; Authorized
- 5,600 shares; Issued - 3,520 and 3,519       880               880
shares, respectively

Capital surplus                                8,227             7,966

Reinvested earnings                            40,944            38,513

Accumulated other comprehensive income         (1,753  )         (2,674  )
(loss)

Treasury stock, at cost - 1,206 and 1,207      (24,343 )         (24,213 )
shares, respectively

Equity Attributable to Shareowners of The      23,955            20,472
Coca-Cola Company

Equity Attributable to Noncontrolling          467               390
Interests

Total Equity                                   24,422            20,862

Total Liabilities and Equity                 $ 47,107          $ 40,519



THE COCA-COLA COMPANY AND SUBSIDIARIES

Condensed Consolidated Statements of Cash Flows

(UNAUDITED)

(In millions)

                                            Nine Months Ended

                                            October 2, 2009   September 26, 2008

Operating Activities

Consolidated net income                     $ 5,328           $ 4,869

Depreciation and amortization                 905               943

Stock-based compensation expense              142               223

Deferred income taxes                         26                (221   )

Equity income or loss, net of dividends       (428   )          638

Foreign currency adjustments                  15                (39    )

Gains on sales of assets, including           (33    )          (128   )
bottling interests

Other operating charges                       134               141

Other items                                   187               57

Net change in operating assets and            (6     )          (815   )
liabilities

Net cash provided by operating activities     6,270             5,668

Investing Activities

Acquisitions and investments, principally
beverage and bottling companies and           (286   )          (655   )
trademarks

Purchases of other investments                (20    )          (212   )

Proceeds from disposals of bottling           102               454
companies and other investments

Purchases of property, plant and              (1,399 )          (1,370 )
equipment

Proceeds from disposals of property,          34                46
plant and equipment

Other investing activities                    9                 (57    )

Net cash used in investing activities         (1,560 )          (1,794 )

Financing Activities

Issuances of debt                             11,149            5,308

Payments of debt                              (9,408 )          (3,211 )

Issuances of stock                            231               570

Purchases of stock for treasury               (6     )          (1,079 )

Dividends                                     (2,850 )          (1,764 )

Net cash used in financing activities         (884   )          (176   )

Effect of Exchange Rate Changes on Cash       319               6
and Cash Equivalents

Cash and Cash Equivalents

Net increase during the period                4,145             3,704

Balance at beginning of period                4,701             4,093

Balance at end of period                    $ 8,846           $ 7,797





THE COCA-COLA COMPANY AND SUBSIDIARIES

Operating Segments

(UNAUDITED)

(In millions)

Three Months Ended

               Net Operating Revenues             Operating Income (Loss)            Income (Loss) Before Income
                                                                                     Taxes

               October     September              October     September              October     September
               2,          26,                    2,          26,                    2,          26,
                                       % Fav. /                           % Fav. /                           % Fav. /
               2009        2008                   2009        2008                   2009        2008
                                       (Unfav.)                           (Unfav.)                           (Unfav.)
               (1)         (5)                    (2)         (6)                    (2), (3),   (6), (7),
                                                                                     (4)         (8)

Eurasia &      $ 537       $ 592       (9  )      $ 184       $ 180       2          $ 182       $ 169       8
Africa

Europe           1,380       1,529     (10 )        774         796       (3  )        784         811       (3  )

Latin            1,004       1,033     (3  )        557         559       0            554         557       (1  )
America

North            2,119       2,152     (2  )        433         392       10           435         395       10
America

Pacific          1,269       1,276     (1  )        442         491       (10 )        435         487       (11 )

Bottling         2,212       2,309     (4  )        83          66        26           369         337       9
Investments

Corporate        12          34        (65 )        (323  )     (297  )   (9  )        (316  )     (286  )   (10 )

Eliminations     (489  )     (532  )   --           --          --        --           --          --        --

Consolidated   $ 8,044     $ 8,393     (4  )      $ 2,150     $ 2,187     (2  )      $ 2,443     $ 2,470     (1  )

     Intersegment revenues for the three months ended October 2, 2009, were approximately $72 million for Eurasia and
(1)  Africa, $243 million for Europe, $44 million for Latin America, $7 million for North America, $87 million for
     Pacific and $36 million for Bottling Investments.

     Operating income (loss) and income (loss) before income taxes for the three months ended October 2, 2009, were
(2)  reduced by approximately $2 million for Europe, $2 million for North America, $1 million for Pacific, $18
     million for Bottling Investments and $25 million for Corporate, primarily due to the Company's ongoing
     productivity initiatives and restructuring costs.

     Income (loss) before income taxes for the three months ended October 2, 2009, was reduced by approximately $5
(3)  million for Bottling Investments and $1 million for Corporate, primarily attributable to the Company's
     proportionate share of restructuring charges recorded by certain of our equity method investees.

     Income (loss) before income taxes for the three months ended October 2, 2009, was increased by approximately $10
(4)  million for Corporate due to realized gains on the sale of equity securities that were classified as
     available-for-sale. In 2008, the Company recognized an other-than-temporary impairment related to these
     investments.

     Intersegment revenues for the three months ended September 26, 2008, were approximately $52 million for Eurasia
(5)  and Africa, $280 million for Europe, $44 million for Latin America, $17 million for North America, $84 million
     for Pacific and $55 million for Bottling Investments.

     Operating income (loss) and income (loss) before income taxes for the three months ended September 26, 2008,
(6)  were reduced by approximately $1 million for Latin America, $6 million for North America, $12 million for
     Bottling Investments and $28 million for Corporate, primarily due to restructuring costs and productivity
     initiatives.

     Income (loss) before income taxes for the three months ended September 26, 2008, was reduced by approximately $3
(7)  million for Bottling Investments, primarily attributable to the Company's proportionate share of restructuring
     charges recorded by certain of our equity method investees.

     Income (loss) before income taxes for the three months ended September 26, 2008, was increased by approximately
     $16 million for Corporate due to a gain on the sale of 49 percent of our interest in Coca-Cola Beverages
(8)  Pakistan Ltd. ("Coca-Cola Pakistan") to Coca-Cola Icecek A.S.

     ("Coca-Cola Icecek").





THE COCA-COLA COMPANY AND SUBSIDIARIES

Operating Segments

(UNAUDITED)

(In millions)

Nine Months Ended

               Net Operating Revenues               Operating Income (Loss)            Income (Loss) Before Income Taxes

                            September               October     September              October 2,   September
               October 2,   26,                     2,          26,                                 26,
                                         % Fav. /                           % Fav. /   2009                     % Fav. /
               2009         2008                    2009        2008                                2008
                                         (Unfav.)                           (Unfav.)   (2), (3),                (Unfav.)
               (1)          (6)                     (2)         (7)                    (4), (5)     (7), (8),
                                                                                                    (9)

Eurasia &      $ 1,655      $ 1,820      (9  )      $ 634       $ 676       (6  )      $ 637        $ 670       (5 )
Africa

Europe           4,013        4,626      (13 )        2,327       2,547     (9  )        2,361        2,580     (8 )

Latin            2,762        2,894      (5  )        1,483       1,596     (7  )        1,481        1,601     (7 )
America

North            6,385        6,306      1            1,316       1,173     12           1,322        1,180     12
America

Pacific          3,731        3,604      4            1,492       1,483     1            1,475        1,470     0

Bottling         6,276        7,099      (12 )        136         239       (43 )        746          (198  )   --
Investments

Corporate        64           91         (30 )        (937  )     (974  )   4            (1,036 )     (957  )   (8 )

Eliminations     (1,406 )     (1,622 )   --           --          --        --           --           --        --

Consolidated   $ 23,480     $ 24,818     (5  )      $ 6,451     $ 6,740     (4  )      $ 6,986      $ 6,346     10

     Intersegment revenues for the nine months ended October 2, 2009, were approximately $186 million for Eurasia and
(1)  Africa, $685 million for Europe, $113 million for Latin America, $56 million for North America, $268 million for
     Pacific and $98 million for Bottling Investments.

     Operating income (loss) and income (loss) before income taxes for the nine months ended October 2, 2009, were
(2)  reduced by approximately $3 million Eurasia and Africa, $3 million for Europe, $15 million for North America, $1
     million for Pacific, $109 million for Bottling Investments and $81 million for Corporate, primarily as a result of
     restructuring costs, the Company's ongoing productivity initiatives and asset impairments.

     Income (loss) before income taxes for the nine months ended October 2, 2009, was reduced by approximately $66
(3)  million for Bottling Investments and $2 million for Corporate, primarily attributable to the Company's
     proportionate share of asset impairment and restructuring charges recorded by certain of our equity method
     investees.

(4)  Income (loss) before income taxes for the nine months ended October 2, 2009, was reduced by approximately $27
     million for Corporate due to an other-than-temporary impairment of a cost method investment.

     Income (loss) before income taxes for the nine months ended October 2, 2009, was increased by approximately $10
(5)  million for Corporate due to realized gains on the sale of equity securities that were classified as
     available-for-sale. In 2008, the Company recognized an other-than-temporary impairment related to these
     investments.

     Intersegment revenues for the nine months ended September 26, 2008, were approximately $159 million for Eurasia and
(6)  Africa, $810 million for Europe, $164 million for Latin America, $47 million for North America, $272 million for
     Pacific and $170 million for Bottling Investments.

     Operating income (loss) and income (loss) before income taxes for the nine months ended September 26, 2008, were
(7)  reduced by approximately $1 million for Latin America, $12 million for North America, $25 million for Bottling
     Investments and $204 million for Corporate, primarily attributable to restructuring costs, contract termination
     fees, asset impairments and productivity initiatives.

     Income (loss) before income taxes for the nine months ended September 26, 2008, was reduced by approximately $1.1
(8)  billion for Bottling Investments, primarily as a result of our proportionate share of an impairment charge recorded
     by Coca-Cola Enterprises Inc. ("CCE").

     Income (loss) before income taxes for the nine months ended September 26, 2008, was increased by approximately $118
(9)  million for Bottling Investments and Corporate, primarily due to the gain on the sale of Refrigerantes Minas Gerais
     Ltda. ("Remil"), a bottler in Brazil, to Coca-Cola FEMSA, S.A.B. de C.V. ("Coca-Cola FEMSA").





THE COCA-COLA COMPANY AND SUBSIDIARIES

Reconciliation of GAAP and Non-GAAP Financial Measures

(UNAUDITED)

(In millions except per share data)

                 Three Months Ended October 2, 2009
                                                                                                                                                     After
                             Items Impacting Comparability                                                                         % Change -
                                                                                                                                                     Considering
                                                                                                  After             % Change       After
                                                                                                                    -                                Items and
                             Asset                                                    Certain     Considering                      Considering
                 Reported                    Productivity   Equity      Transaction   Tax                           Reported                         Excluding
                             Impairments/                                                         Items                            Items             Tax
                 (GAAP)                      Initiatives    Investees   Gain          Matters                       (GAAP)
                             Restructuring                                            (1)         (Non-GAAP)                       (Non-GAAP)        Rate Change

                                                                                                                                                     (Non-GAAP)


Net Operating    $ 8,044                                                                          $ 8,044           (4  )    (2)   (4  )       (3)   $ 8,044
Revenues

Cost of goods      2,934                                                                            2,934           (3  )          (3  )               2,934
sold

Gross Profit       5,110                                                                            5,110           (5  )          (5  )               5,110

Selling,
general and        2,912                                                                            2,912           (7  )          (7  )               2,912
administrative
expenses

Other
operating          48          ($23  )         ($25  )                                              -               --             --                  -
charges

Operating          2,150       23              25                                                   2,198           (2  )          (2  )       (4)     2,198
Income

Interest           67                                                                               67              (36 )          (36 )               67
income

Interest           89                                                                               89              (20 )          (20 )               89
expense

Equity income      282                                      $ 6                                     288             4              5                   288
- net

Other income       33                                                     ($10   )                  23              --             --                  23
(loss) - net

Income Before      2,443       23              25             6           (10    )                  2,487           (1  )          (1  )               2,487
Income Taxes

Income taxes       523         2               8                                      $ 9           542             (6  )          (1  )               584

Consolidated       1,920       21              17             6           (10    )      (9    )     1,945           0              (1  )               1,903
Net Income

Less: Net
income
attributable       24                                                                               24              (4  )          (4  )               24
to
noncontrolling
interests

Net Income
Attributable
to Shareowners   $ 1,896     $ 21            $ 17           $ 6           ($10   )      ($9   )   $ 1,921           0              (1  )             $ 1,879
of The
Coca-Cola
Company

Diluted Net
Income Per       $ 0.81      $ 0.01          $ 0.01         $ 0.00      $ 0.00        $ 0.00      $ 0.82      (5)   0              (1  )             $ 0.81
Share

Average Shares
Outstanding -      2,332       2,332           2,332          2,332       2,332         2,332       2,332                                              2,332
Diluted

Gross Margin       63.5  %                                                                          63.5  %                                            63.5  %

Operating          26.7  %                                                                          27.3  %                                            27.3  %
Margin

Effective Tax      21.4  %                                                                          21.8  %   (6)                                      23.5  %
Rate

                 Three Months Ended September 26, 2008

                             Items Impacting Comparability
                                                                                                  After

                             Asset                                                    Certain     Considering
                 Reported                    Productivity   Equity      Transaction   Tax
                             Impairments/                                                         Items
                 (GAAP)                      Initiatives    Investees   Gains         Matters
                             Restructuring                                            (1)         (Non-GAAP)


Net Operating    $ 8,393                                                                          $ 8,393
Revenues

Cost of goods      3,020                                                                            3,020
sold

Gross Profit       5,373                                                                            5,373

Selling,
general and        3,139                                                                            3,139
administrative
expenses

Other
operating          47          ($35  )         ($12  )                                              -
charges

Operating          2,187       35              12                                                   2,234
Income

Interest           105                                                                              105
income

Interest           111                                                                              111
expense

Equity income      272                                      $ 3                                     275
(loss) - net

Other income       17                                                     ($16   )                  1
(loss) - net

Income Before      2,470       35              12             3           (16    )                  2,504
Income Taxes

Income taxes       555         7               6              (21   )     3             ($5   )     545

Consolidated       1,915       28              6              24          (19    )      5           1,959
Net Income

Less: Net
income
attributable       25                                                                               25
to
noncontrolling
interests

Net Income
Attributable
to Shareowners   $ 1,890     $ 28            $ 6            $ 24          ($19   )    $ 5         $ 1,934
of The
Coca-Cola
Company

Diluted Net
Income Per       $ 0.81      $ 0.01          $ 0.00         $ 0.01        ($0.01 )    $ 0.00      $ 0.83      (5)
Share

Average Shares
Outstanding -      2,329       2,329           2,329          2,329       2,329         2,329       2,329
Diluted

Gross Margin       64.0  %                                                                          64.0  %

Operating          26.1  %                                                                          26.6  %
Margin

Effective Tax      22.5  %                                                                          21.8  %
Rate

Note:Items to consider for comparability include primarily charges, gains, and accounting changes. Charges and accounting changes negatively impacting net
income are reflected as increases to reported net income. Gains and accounting changes positively impacting net income are reflected as deductions to reported
net income.

(1)Primarily related to changes in reserves related to certain tax matters.

(2) Net operating revenues include a negative impact of $49, or approximately 1%, due to structural changes.

(3) Net operating revenues after considering items impacting comparability for the three months ended October 2, 2009 include a negative currency impact of
approximately 6%. Currency neutral net operating revenue growth after considering items impacting comparability is 2%. Currency neutral net operating revenues
include a negative impact due to structural changes of approximately 1%. Currency neutral net operating revenue growth after considering items impacting
comparability and structural changes is 3%.

(4) Operating income after considering items impacting comparability for the three months ended October 2, 2009 includes a negative currency impact of
approximately 11%. Currency neutral operating income growth after considering items impacting comparability is 9%.

(5) Per share amounts do not add due to rounding.

(6) Effective tax rate after considering impact of net income attributable to noncontrolling interests:

                                             2009

Income before income taxes of $2,487 less
net income attributable to noncontrolling    $ 2,463
interests of $24

Income taxes                                 $ 542

Effective tax rate after considering
impact of net income attributable to           22.0  %
noncontrolling interests

The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). However, management believes that certain
non-GAAP financial measures used in managing the business may provide users of this financial information additional meaningful comparisons between current
results and results in prior operating periods. Management believes that these non-GAAP financial measures can provide additional meaningful reflection of
underlying trends of the business because they provide a comparison of historical information that excludes certain items that impact the overall comparability.
Management also uses these non-GAAP financial measures in making financial, operating and planning decisions and in evaluating the Company's performance. See
the tables above for supplemental financial data and corresponding reconciliations to GAAP financial measures for the three months ended October 2, 2009 and
September 26, 2008. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, the Company's reported results prepared in
accordance with GAAP.





THE COCA-COLA COMPANY AND SUBSIDIARIES

Reconciliation of GAAP and Non-GAAP Financial Measures

(UNAUDITED)

(In millions except per share data)

                 Nine Months Ended October 2, 2009
                                                                                                                                                      After
                              Items Impacting Comparability                                                                         % Change -
                                                                                                                                                      Considering
                                                                                                   After             % Change       After
                                                                                                                     -                                Items and
                              Asset                                                    Certain     Considering                      Considering
                 Reported                     Productivity   Equity      Transaction   Tax                           Reported                         Excluding
                              Impairments/                                                         Items                            Items             Tax
                 (GAAP)                       Initiatives    Investees   Gain          Matters                       (GAAP)
                              Restructuring                                            (1)         (Non-GAAP)                       (Non-GAAP)        Rate Change

                                                                                                                                                      (Non-GAAP)


Net Operating    $ 23,480                                                                          $ 23,480          (5  )    (2)   (5  )       (3)   $ 23,480
Revenues

Cost of goods      8,437                                                                             8,437           (4  )          (4  )               8,437
sold

Gross Profit       15,043                                                                            15,043          (6  )          (6  )               15,043

Selling,
general and        8,380                                                                             8,380           (7  )          (7  )               8,380
administrative
expenses

Other
operating          212          ($154 )         ($58  )                                              -               --             --                  -
charges

Operating          6,451        154             58                                                   6,663           (4  )          (5  )       (4)     6,663
Income

Interest           184                                                                               184             (23 )          (23 )               184
income

Interest           271                                                                               271             (15 )          (15 )               271
expense

Equity income      609                                       $ 68                                    677             --             (3  )               677
- net

Other income       13           27                                         ($10   )                  30              --             --                  30
(loss) - net

Income Before      6,986        181             58             68          (10    )                  7,283           10             (4  )               7,283
Income Taxes

Income taxes       1,658        9               20             15                        ($38  )     1,664           12             0                   1,712

Consolidated       5,328        172             38             53          (10    )      38          5,619           9              (5  )               5,571
Net Income

Less: Net
income
attributable       47                                                                                47              (18 )          (18 )               47
to
noncontrolling
interests

Net Income
Attributable
to Shareowners   $ 5,281      $ 172           $ 38           $ 53          ($10   )    $ 38        $ 5,572           10             (5  )             $ 5,524
of The
Coca-Cola
Company

Diluted Net
Income Per       $ 2.27       $ 0.07          $ 0.02         $ 0.02      $ 0.00        $ 0.02      $ 2.40            10             (4  )             $ 2.38
Share

Average Shares
Outstanding -      2,324        2,324           2,324          2,324       2,324         2,324       2,324                                              2,324
Diluted

Gross Margin       64.1   %                                                                          64.1   %                                           64.1   %

Operating          27.5   %                                                                          28.4   %                                           28.4   %
Margin

Effective Tax      23.7   %                                                                          22.8   %  (5)                                      23.5   %
Rate

                 Nine Months Ended September 26, 2008

                              Items Impacting Comparability
                                                                                                   After

                              Asset                                                    Certain     Considering
                 Reported                     Productivity   Equity      Transaction   Tax
                              Impairments/                                                         Items
                 (GAAP)                       Initiatives    Investees   Gains         Matters
                              Restructuring                                            (1)         (Non-GAAP)


Net Operating    $ 24,818                                                                          $ 24,818
Revenues

Cost of goods      8,806                                                                             8,806
sold

Gross Profit       16,012                                                                            16,012

Selling,
general and        9,030                                                                             9,030
administrative
expenses

Other
operating          242          ($218 )         ($24  )                                              -
charges

Operating          6,740        218             24                                                   6,982
Income

Interest           239                                                                               239
income

Interest           317                                                                               317
expense

Equity income      (434   )                                  $ 1,130                                 696
(loss) - net

Other income       118                                                     ($118  )                  -
(loss) - net

Income Before      6,346        218             24             1,130       (118   )                  7,600
Income Taxes

Income taxes       1,477        43              9              195         (29    )      ($36  )     1,659

Consolidated       4,869        175             15             935         (89    )      36          5,941
Net Income

Less: Net
income
attributable       57                                                                                57
to
noncontrolling
interests

Net Income
Attributable
to Shareowners   $ 4,812      $ 175           $ 15           $ 935         ($89   )    $ 36        $ 5,884
of The
Coca-Cola
Company

Diluted Net
Income Per       $ 2.06       $ 0.07          $ 0.01         $ 0.40        ($0.04 )    $ 0.02      $ 2.51      (6)
Share

Average Shares
Outstanding -      2,341        2,341           2,341          2,341       2,341         2,341       2,341
Diluted

Gross Margin       64.5   %                                                                          64.5   %

Operating          27.2   %                                                                          28.1   %
Margin

Effective Tax      23.3   %                                                                          21.8   %
Rate

Note:Items to consider for comparability include primarily charges, gains, and accounting changes. Charges and accounting changes negatively impacting net income
are reflected as increases to reported net income. Gains and accounting changes positively impacting net income are reflected as deductions to reported net
income.

(1)Primarily related to changes in reserves related to certain tax matters.

(2) Net operating revenues include a negative impact of $396, or approximately 2%, due to structural changes.

(3) Net operating revenues after considering items impacting comparability for the nine months ended October 2, 2009 include a negative currency impact of
approximately 8%. Currency neutral net operating revenue growth after considering items impacting comparability is 3%. Currency neutral net operating revenues
include a negative impact due to structural changes of approximately 2%. Currency neutral net operating revenue growth after considering items impacting
comparability and structural changes is 5%.

(4) Operating income after considering items impacting comparability for the nine months ended October 2, 2009 includes a negative currency impact of
approximately 14%. Currency neutral operating income growth after considering items impacting comparability is 9%.

(5) Effective tax rate after considering impact of net income attributable to noncontrolling interests:

                                              2009

Income before income taxes of $7,283 less
net income attributable to noncontrolling     $ 7,236
interests of $47

Income taxes                                  $ 1,664

Effective tax rate after considering impact
of net income attributable to                   23.0  %
noncontrolling interests

(6) Per share amounts do not add due to rounding.

The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). However, management believes that certain
non-GAAP financial measures used in managing the business may provide users of this financial information additional meaningful comparisons between current
results and results in prior operating periods. Management believes that these non-GAAP financial measures can provide additional meaningful reflection of
underlying trends of the business because they provide a comparison of historical information that excludes certain items that impact the overall comparability.
Management also uses these non-GAAP financial measures in making financial, operating and planning decisions and in evaluating the Company's performance. See the
tables above for supplemental financial data and corresponding reconciliations to GAAP financial measures for the nine months ended October 2, 2009 and September
26, 2008. Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, the Company's reported results prepared in accordance with
GAAP.





THE COCA-COLA COMPANY AND SUBSIDIARIES

Reconciliation of GAAP and Non-GAAP Financial Measures

Operating Income (Loss) by Segment

(UNAUDITED)

(In millions)

               Three Months Ended October 2, 2009                               Three Months Ended September 26, 2008
                                                                                                                                                           % Favorable
                               Items Impacting Comparability                                           Items Impacting
                                                                                                       Comparability                                       (Unfavorable)
                                                                                                                                           % Favorable     -
                                                               After                                                         After
                                                                                                                                           (Unfavorable)   After
                                                               Considering                                                   Considering   -
                               Asset                                                    Asset                                                              Considering
               Reported                        Productivity    Items   Reported                               Productivity   Items         Reported
                               Impairments/                                             Impairments/                                                       Items
               (GAAP)                          Initiatives     (Non-GAA(GAAP)                                 Initiatives    (Non-GAAP)    (GAAP)
                               Restructuring                                            Restructuring                                                      (Non-GAAP)

                                                                                                                                                           (1)


Eurasia &      $ 184             ($1 )         $ 1             $ 184            $ 180                                        $ 180         2               2
Africa

Europe           774             1               1               776              796                                          796         (3  )           (3  )

Latin            557                                             557              559                  $ 1                     560         0               (1  )
America

North            433             2                               435              392                    6                     398         10              9
America

Pacific          442                             1               443              491                                          491         (10 )           (10 )

Bottling         83              18                              101              66                     12                    78          26              29
Investments

Corporate        (323  )         3               22              (298  )          (297  )                16   $ 12             (269  )     (9  )           (11 )

Consolidated   $ 2,150         $ 23            $ 25            $ 2,198          $ 2,187                $ 35   $ 12           $ 2,234       (2  )           (2  )

(1) Currency neutral operating income growth after considering items impacting comparability for each operating segment is calculated as follows:

                                               % Favorable
               % Favorable
                               % Currency      (Unfavorable)
               (Unfavorable)                   -
               -               Impact After
                                               Currency
               After           Considering
                                               Neutral After
               Considering     Items
                               Impacting       Considering
               Items
                               Comparability   Items
               (Non-GAAP)
                                               (Non-GAAP)

Eurasia &        2               (11 )           13
Africa

Europe           (3    )         (10 )           7

Latin            (1    )         (19 )           18
America

North            9               0               9
America

Pacific          (10   )         7               (17 )

Bottling         29              (27 )           56
Investments

Corporate        (11   )         (21 )           10

Consolidated     (2    )         (11 )           9

The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). However, management believes that certain non-GAAP
financial measures used in managing the business may provide users of this financial information additional meaningful comparisons between current results and results
in prior operating periods. Management believes that these non-GAAP financial measures can provide additional meaningful reflection of underlying trends of the business
because they provide a comparison of historical information that excludes certain items that impact the overall comparability. Management also uses these non-GAAP
financial measures in making financial, operating and planning decisions and in evaluating the Company's performance. See the tables above for supplemental financial
data and corresponding reconciliations to GAAP financial measures for the three months ended October 2, 2009 and September 26, 2008. Non-GAAP financial measures should
be viewed in addition to, and not as an alternative for, the Company's reported results prepared in accordance with GAAP.





THE COCA-COLA COMPANY AND SUBSIDIARIES

Reconciliation of GAAP and Non-GAAP Financial Measures

Operating Income (Loss) by Segment

(UNAUDITED)

(In millions)

               Nine Months Ended October 2, 2009                                Nine Months Ended September 26, 2008
                                                                                                                                                            % Favorable
                               Items Impacting Comparability                                           Items Impacting
                                                                                                       Comparability                                        (Unfavorable)
                                                                                                                                            % Favorable     -
                                                               After                                                          After
                                                                                                                                            (Unfavorable)   After
                                                               Considering                                                    Considering   -
                               Asset                                                    Asset                                                               Considering
               Reported                        Productivity    Items   Reported                                Productivity   Items         Reported
                               Impairments/                                             Impairments/                                                        Items
               (GAAP)                          Initiatives     (Non-GAA(GAAP)                                  Initiatives    (Non-GAAP)    (GAAP)
                               Restructuring                                            Restructuring                                                       (Non-GAAP)

                                                                                                                                                            (1)


Eurasia &      $ 634           $ 2             $ 1             $ 637            $ 676                                         $ 676         (6  )           (6  )
Africa

Europe           2,327           1               2               2,330            2,547                                         2,547       (9  )           (9  )

Latin            1,483                                           1,483            1,596                $ 1                      1,597       (7  )           (7  )
America

North            1,316           15                              1,331            1,173                  12                     1,185       12              12
America

Pacific          1,492                           1               1,493            1,483                                         1,483       1               1

Bottling         136             109                             245              239                    25                     264         (43 )           (7  )
Investments

Corporate        (937  )         27              54              (856  )          (974  )                180   $ 24             (770  )     4               (11 )

Consolidated   $ 6,451         $ 154           $ 58            $ 6,663          $ 6,740                $ 218   $ 24           $ 6,982       (4  )           (5  )

(1) Currency neutral operating income growth after considering items impacting comparability for each operating segment is calculated as follows:

                                               % Favorable
               % Favorable
                               % Currency      (Unfavorable)
               (Unfavorable)                   -
               -               Impact After
                                               Currency
               After           Considering
                                               Neutral After
               Considering     Items
                               Impacting       Considering
               Items
                               Comparability   Items
               (Non-GAAP)
                                               (Non-GAAP)

Eurasia &        (6    )         (19 )           13
Africa

Europe           (9    )         (13 )           4

Latin            (7    )         (22 )           15
America

North            12              (1  )           13
America

Pacific          1               4               (3 )

Bottling         (7    )         (31 )           24
Investments

Corporate        (11   )         (15 )           4

Consolidated     (5    )         (14 )           9

The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). However, management believes that certain non-GAAP
financial measures used in managing the business may provide users of this financial information additional meaningful comparisons between current results and results in
prior operating periods. Management believes that these non-GAAP financial measures can provide additional meaningful reflection of underlying trends of the business
because they provide a comparison of historical information that excludes certain items that impact the overall comparability. Management also uses these non-GAAP
financial measures in making financial, operating and planning decisions and in evaluating the Company's performance. See the tables above for supplemental financial
data and corresponding reconciliations to GAAP financial measures for the nine months ended October 2, 2009 and September 26, 2008. Non-GAAP financial measures should be
viewed in addition to, and not as an alternative for, the Company's reported results prepared in accordance with GAAP.



The Coca-Cola Company

The Coca-Cola Company (NYSE: KO) is the world's largest beverage company, refreshing consumers with nearly 500 sparkling and still brands. Along with Coca-Cola, recognized as the world's most valuable brand, the Company's portfolio includes 12 other billion dollar brands, including Diet Coke, Fanta, Sprite, Coca-Cola Zero, vitaminwater, Powerade, Minute Maid and Georgia Coffee. Globally, we are the No. 1 provider of sparkling beverages, juices and juice drinks and ready-to-drink teas and coffees. Through the world's largest beverage distribution system, consumers in more than 200 countries enjoy the Company's beverages at a rate of nearly 1.6 billion servings a day. With an enduring commitment to building sustainable communities, our Company is focused on initiatives that protect the environment, conserve resources and enhance the economic development of the communities where we operate. For more information about our Company, please visit our website at www.thecoca-colacompany.com.

Forward-Looking Statements

This press release may contain statements, estimates or projections that constitute "forward-looking statements" as defined under U.S. federal securities laws. Generally, the words "believe," "expect," "intend," "estimate," "anticipate," "project," "will" and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from The Coca-Cola Company's historical experience and our present expectations or projections. These risks include, but are not limited to, obesity and other health concerns; scarcity and quality of water; changes in the nonalcoholic beverages business environment, including changes in consumer preferences based on health and nutrition considerations and obesity concerns; shifting consumer tastes and needs, changes in lifestyles and competitive product and pricing pressures; impact of the global credit crisis on our liquidity and financial performance; our ability to expand our operations in developing and emerging markets; foreign currency exchange rate fluctuations; increases in interest rates; our ability to maintain good relationships with our bottling partners; the financial condition of our bottling partners; our ability and the ability of our bottling partners to maintain good labor relations, including the ability to renew collective bargaining agreements on satisfactory terms and avoid strikes, work stoppages or labor unrest; increase in the cost, disruption of supply or shortage of energy; increase in cost, disruption of supply or shortage of ingredients or packaging materials; changes in laws and regulations relating to beverage containers and packaging, including container deposit, recycling, eco-tax and/or product stewardship laws or regulations; adoption of significant additional labeling or warning requirements; unfavorable general economic conditions in the United States or other major markets; unfavorable economic and political conditions in international markets, including civil unrest and product boycotts; changes in commercial or market practices and business model within the European Union; litigation uncertainties; adverse weather conditions; our ability to maintain brand image and corporate reputation as well as other product issues such as product recalls; changes in legal and regulatory environments; changes in accounting standards and taxation requirements; our ability to achieve overall long-term goals; our ability to protect our information systems; additional impairment charges; our ability to successfully manage Company-owned bottling operations; the impact of climate change on our business; global or regional catastrophic events; and other risks discussed in our Company's filings with the Securities and Exchange Commission (SEC), including our Annual Report on Form 10-K, which filings are available from the SEC. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. The Coca-Cola Company undertakes no obligation to publicly update or revise any forward-looking statements.

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    Source: The Coca-Cola Company