Coca Cola Company

Summary of Ratios
2019 2018 2017 2016 2015 2014
Chp 2
Current assets 20,411 30,634 36,545 34,010 33,395 32,986
Current liabilities 26,973 29,223 27,194 26,532 26,930 32,374
Inventory + Prepaid 5,265 4,728 4,655 5,156 5,654 6,166

Current ratio 0.76 1.05 1.34 1.28 1.24 1.02

Quick ratio 0.56 0.89 1.17 1.09 1.03 0.83

Chp 3
Sales 37,266 31,856 35,410 41,863 44,294 45,998
Total assets 86,381 83,216 87,896 87,270 90,093 92,023
Average Total assets 84,799 85,556 87,583 88,682 91,058 91,039

Asset Turnover ratio 0.44 0.37 0.40 0.47 0.49 0.51

Net earnings 8,920 6,434 1,248 6,527 7,351 7,098

Interest expense -946 -919 -841 -733 -856 -483
Effective tax rate -16.7% -19.4% -82.5% -19.5% -23.3% -23.6%
Average Total assets 84,799 85,556 87,583 88,682 91,058 91,039

Return on Assets (RoA) 11.45% 8.39% 1.59% 8.03% 8.79% 8.20%

Chp 4
Net earnings 8,920 6,434 1,248 6,527 7,351 7,098
Net Sales 37,266 31,856 35,410 41,863 44,294 45,998

Net profit margin ratio 23.94% 20.20% 3.52% 15.59% 16.60% 15.43%

Net earnings 8,920 6,434 1,248 6,527 7,351 7,098

Shareholders equity 21,098 19,058 18,977 23,220 25,764 30,561
Average shareholders equity 20,078 19,018 21,099 24,492 28,163 32,001

Return on Equity (RoE) 44.4% 33.8% 5.9% 26.6% 26.1% 22.2%

Chp 6
Gross Profit 22,647 20,086 22,154 25,398 26,812 28,109
Net Sales 37,266 31,856 35,410 41,863 44,294 45,998

Gross profit margin 60.8% 63.1% 62.6% 60.7% 60.5% 61.1%

Net Sales 37,266 31,856 35,410 41,863 44,294 45,998

Accounts Receivable 3,971 3,396 3,667 3,856 3,941 4,466
Average Accounts Receivable 3,684 3,532 3,762 3,899 4,204 4,670

Receivables turnover ratio 10.12 9.02 9.41 10.74 10.54 9.85

Average collection period 36.1 40.5 38.8 34.0 34.6 37.1

Chp 7
Cost of Sales -14,619 -11,770 -13,256 -16,465 -17,482 -17,889
Inventory 3,379 2,766 2,655 2,675 2,902 3,100
Average Inventory 3072.5 2710.5 2665 2788.5 3001 3188.5

Inventory turnover ratio 4.8 4.3 5.0 5.9 5.8 5.6

Average days in inventory 76.7 84.1 73.4 61.8 62.7 65.1

Chp 8
Net Sales 37,266 31,856 35,410 41,863 44,294 45,998
Net Fixed Assets 10,838 8,232 8,203 10,635 12,571 14,633
Average Net Fixed Assets 9535 8217.5 9419 11603 13602 14800

Fixed asset turnover ratio 3.9 3.9 3.8 3.6 3.3 3.1

Chp 9
Cost of Sales -14,619 -11,770 -13,256 -16,465 -17,482 -17,889
Accounts Payable 11,312 8,932 8,748 9,490 9,660 9,234
Average Accounts Payable 10,122 8,840 9,119 9,575 9,447 9,406

Payables turnover ratio 1.4 1.3 1.5 1.7 1.9 1.9

Average days payable 252.7 274.1 251.1 212.3 197.2 191.9

Chp 10
Net earnings 8,920 6,434 1,248 6,527 7,351 7,098
Interest expense -946 -919 -841 -733 -856 -483
Income tax expense -1,801 -1,623 -5,560 -1,586 -2,239 -2,201

Times Interest Earned ratio 12.33 9.77 9.10 12.07 12.20 20.25

Total Liabilities 65,283 64,158 68,919 64,050 64,329 61,462

Shareholder's Equity 21,098 19,058 18,977 23,220 25,764 30,561

Debt-to-Equity 3.09 3.37 3.63 2.76 2.50 2.01

Chp 11
Net earnings 8,920 6,434 1,248 6,527 7,351 7,098
Weighted avg shares outstandin 4,276 4,259 4,272 4,317 4,352 4,387

Earnings per share (EPS) 2.09 1.51 0.29 1.51 1.69 1.62

Dividend per common share 1.60 1.56 1.48 1.40 1.32 1.22
Price per share

Dividend yield ratio (%) 2.89 3.29 3.23 3.38 3.07 2.89

Chp 5
Cash flow from operating activit 10,471 7,320 6,995 8,796 10,528 10,615
Net earnings 8,920 6,434 1,248 6,527 7,351 7,098

Quality of earnings 1.17 1.14 5.60 1.35 1.43 1.50

Cash flow from operating activiti 10,471 7,320 6,995 8,796 10,528 10,615
Cash paid for capital expenditur (247) (155) 5 (88) 68 (107)
Capital expenditures ratio (42.44) (47.18) 1,483.19 (100.10) 154.84 (99.63)
2013 2012 2011 2010 2009 2008 2007

31,304 30,328 25,497 21,579 17,551 12,176 12,105

27,811 27,821 24,283 18,508 13,721 12,988 13,225
6,163 6,045 6,542 5,812 4,580 4,107 4,480

1.13 1.09 1.05 1.17 1.28 0.94 0.92

0.90 0.87 0.78 0.85 0.95 0.62 0.58

46,854 48,017 46,542 35,119 30,990 31,944 28,857

90,055 86,174 79,974 72,921 48,671 40,519 43,269
88,115 83,074 76,448 60,796 44,595 41,894 21,635

0.53 0.58 0.61 0.58 0.69 0.76 1.33

8,584 9,019 8,572 11,809 6,824 5,807 5,981

-463 -397 -417 -733 -355 -438 -456
-24.8% -23.1% -24.5% -16.7% -22.8% -21.9% -24.0%
88,115 83,074 76,448 60,796 44,595 41,894 21,635

10.14% 11.22% 11.62% 20.43% 15.92% 14.68% 29.25%

8,584 9,019 8,572 11,809 6,824 5,807 5,981

46,854 48,017 46,542 35,119 30,990 31,944 28,857

18.32% 18.78% 18.42% 33.63% 22.02% 18.18% 20.73%

8,584 9,019 8,572 11,809 6,824 5,807 5,981

33,440 33,168 31,921 31,317 25,346 20,472 21,744
33,304 32,545 31,619 28,332 22,909 21,108 10,872

25.8% 27.7% 27.1% 41.7% 29.8% 27.5% 55.0%

28,433 28,964 28,326 22,426 19,902 20,570 18,451

46,854 48,017 46,542 35,119 30,990 31,944 28,857

60.7% 60.3% 60.9% 63.9% 64.2% 64.4% 63.9%

46,854 48,017 46,542 35,119 30,990 31,944 28,857

4,873 4,759 4,920 4,430 3,758 3,090 3,317
4,816 4,840 4,675 4,094 3,424 3,204 1,659

9.73 9.92 9.96 8.58 9.05 9.97 17.40

37.5 36.8 36.7 42.5 40.3 36.6 21.0

-18,421 -19,053 -18,216 -12,693 -11,088 -11,374 -10,406

 3,277 3,264 3,092 2,650 2,354 2,187 2,220
3270.5 3178 2871 2502 2270.5 2203.5 1110

5.6 6.0 6.3 5.1 4.9 5.2 9.4

64.8 60.9 57.5 71.9 74.7 70.7 38.9

46,854 48,017 46,542 35,119 30,990 31,944 28,857

14,967 14,476 14,939 14,727 9,561 8,326 8,493
14721.5 14707.5 14833 12144 8943.5 8409.5 4246.5

3.2 3.3 3.1 2.9 3.5 3.8 6.8

-18,421 -19,053 -18,216 -12,693 -11,088 -11,374 -10,406

9,577 8,680 9,009 8,859 6,657 6,205 6,915
9,129 8,845 8,934 7,758 6,431 6,560 3,458

2.0 2.2 2.0 1.6 1.7 1.7 3.0

180.9 169.4 179.0 223.1 211.7 210.5 121.3

8,584 9,019 8,572 11,809 6,824 5,807 5,981

-463 -397 -417 -733 -355 -438 -456
-2,851 -2,723 -2,805 -2,384 -2,040 -1,632 -1,892

25.70 30.58 28.28 20.36 25.97 17.98 18.27

56,615 53,006 48,053 41,604 23,325 20,047 21,525

33,440 33,168 31,921 31,317 25,346 20,472 21,744

1.69 1.60 1.51 1.33 0.92 0.98 0.99

8,584 9,019 8,572 11,809 6,824 5,807 5,981

4,434 4,504 4,568 4,616 4,628 4,630 4,626

1.94 2.00 1.88 2.56 1.47 1.25 1.29

1.12 1.02 0.94 0.88 0.82 0.76 0.68

2.71 2.81 2.69 2.68 2.88 3.36 2.22

10,542 10,645 9,474 9,532 8,186 7,571 7,150

8,584 9,019 8,572 11,809 6,824 5,807 5,981

1.23 1.18 1.11 0.81 1.20 1.30 1.20

10,542 10,645 9,474 9,532 8,186 7,571 7,150

14 (46) 56 (18) 21 65 (96)
747.43 (229.52) 167.81 (538.31) 396.41 115.69 (74.27)
 Comments

Current assets / Current liabilities

Numerator excludes Inventory & Prepaid assets

Sales / Avg Total Assets

Income tax expense / Earnings before tax

[(Net income + interest expense*(1-effective tax rate)]/Avg total assets

Net earnings / Net Sales

Net earnings / Avg Sh Equity

Gross profit / Net Sales

Net Sales / Avg net A/R

365 / Receivables turnover ratio
Cost of Sales / Inventory
365 / Inventory turnover ratio

Net Sales / Avg Net Fixed Assets

Cost of Sales / Avg net A/P

365 / Payables turnover ratio

(Net earnings+Int expense+Income tax expense / int expense

Total Liabilities / Equity

Net earnings / Avg shares outstanding

Dividends per share / Share price

CFO / Net earnings

CFO / Cash paid for Capex
Coca-Cola Company
KO 191216100 2206657 NYSE Common stock
FactSet Fundamentals
31 DEC '19
12M
10-K (24 Feb '20)
Balance Sheet
Total assets 86,381
Total current assets 20,411
Total cash, cash equivalents and short-term investments 7,947
Cash and cash equivalents 6,480
Short-term investments 1,467
Marketable securities 3,228
Trade accounts receivable, less allowances 3,971
Inventories 3,379
Prepaid expenses and other assets 1,886
Assets held for sale -
Assets held for sale - discontinued operations -
Total investments 19,879
Equity method investments 19,025
Coca-Cola Hellenic Bottling Company S.A. -
Coca-Cola FEMSA, S.A.B. de C.V. -
Coca-Cola Amatil Limited -
Coca-Cola Enterprises Inc. -
Other, principally Bottling Companies and joint ventures -
Other investments 854
Other assets 8,487
Other assets excluding deferred income tax assets 6,075
Deferred income tax assets 2,412
Property, plant and equipment - net 10,838
Trademarks with indefinite lives 9,266
Other intangible assets 736
Bottlers' franchise rights with indefinite lives 109
Other intangible assets excluding bottlers' franchise rights with indefinite lives 627
Goodwill 16,764
Total liabilities and equity 86,381
Total current liabilities 26,973
Accounts payable and accrued expenses 11,312
Loans and notes payable 10,994
Current maturities of long-term debt 4,253
Accrued income taxes 414
Liabilities held for sale -
 Liabilities held for sale - discontinued operations -
Long-term debt 27,516
Other liabilities 8,510
Deferred income taxes 2,284
Total equity 21,098
Equity attributable to shareowners of The Coca-Cola Company 18,981
Common stock 1,760
Capital surplus 17,154
Reinvested earnings 65,855
Accumulated other comprehensive income / loss -13,544
Treasury stock, at cost -52,244
Equity attributable to noncontrolling interests 2,117
Growth (YoY%)
Total assets 3.8
Total current assets -33.4
Total cash, cash equivalents and short-term investments -27.4
Cash and cash equivalents -27.4
Short-term investments -27.6
Marketable securities -35.6
Trade accounts receivable, less allowances 16.9
Inventories 22.2
Prepaid expenses and other assets -3.9
Assets held for sale -
Assets held for sale - discontinued operations -
Total investments -1.9
Equity method investments -2.0
Coca-Cola Hellenic Bottling Company S.A. -
Coca-Cola FEMSA, S.A.B. de C.V. -
Coca-Cola Amatil Limited -
Coca-Cola Enterprises Inc. -
Other, principally Bottling Companies and joint ventures -
Other investments -1.5
Other assets 24.7
Other assets excluding deferred income tax assets 46.8
Deferred income tax assets -9.6
Property, plant and equipment - net 31.7
Trademarks with indefinite lives 38.7
Other intangible assets 126.5
Bottlers' franchise rights with indefinite lives 113.7
Other intangible assets excluding bottlers' franchise rights with indefinite lives 128.8
Goodwill 63.3
Total liabilities and equity 3.8
Total current liabilities -7.7
 Accounts payable and accrued expenses 26.6
Loans and notes payable -16.7
Current maturities of long-term debt -14.9
Accrued income taxes 9.5
Liabilities held for sale -
Liabilities held for sale - discontinued operations -
Long-term debt 8.5
Other liabilities 11.4
Deferred income taxes 18.2
Total equity 10.7
Equity attributable to shareowners of The Coca-Cola Company 11.8
Common stock 0.0
Capital surplus 3.8
Reinvested earnings 4.1
Accumulated other comprehensive income / loss -5.7
Treasury stock, at cost -1.0
Equity attributable to noncontrolling interests 1.9
Common Size
Total assets 100.0
Total current assets 23.6
Total cash, cash equivalents and short-term investments 9.2
Cash and cash equivalents 7.5
Short-term investments 1.7
Marketable securities 3.7
Trade accounts receivable, less allowances 4.6
Inventories 3.9
Prepaid expenses and other assets 2.2
Assets held for sale -
Assets held for sale - discontinued operations -
Total investments 23.0
Equity method investments 22.0
Coca-Cola Hellenic Bottling Company S.A. -
Coca-Cola FEMSA, S.A.B. de C.V. -
Coca-Cola Amatil Limited -
Coca-Cola Enterprises Inc. -
Other, principally Bottling Companies and joint ventures -
Other investments 1.0
Other assets 9.8
Other assets excluding deferred income tax assets 7.0
Deferred income tax assets 2.8
Property, plant and equipment - net 12.5
Trademarks with indefinite lives 10.7
Other intangible assets 0.9
 Bottlers' franchise rights with indefinite lives 0.1
Other intangible assets excluding bottlers' franchise rights with indefinite lives 0.7
Goodwill 19.4
Total liabilities and equity 100.0
Total current liabilities 31.2
Accounts payable and accrued expenses 13.1
Loans and notes payable 12.7
Current maturities of long-term debt 4.9
Accrued income taxes 0.5
Liabilities held for sale -
Liabilities held for sale - discontinued operations -
Long-term debt 31.9
Other liabilities 9.9
Deferred income taxes 2.6
Total equity 24.4
Equity attributable to shareowners of The Coca-Cola Company 22.0
Common stock 2.0
Capital surplus 19.9
Reinvested earnings 76.2
Accumulated other comprehensive income / loss -15.7
Treasury stock, at cost -60.5
Equity attributable to noncontrolling interests 2.5
All figures in millions of U.S. Dollar.
31 DEC '18 31 DEC '17 31 DEC '16 31 DEC '15 31 DEC '14
12M 0P 0P 0P 0P
10-K (21 Feb '19) 10-K (23 Feb '18) 10-K (24 Feb '17) 10-K (25 Feb '16) 10-K (25 Feb '15)

83,216 87,896 87,270 90,093 92,023

30,634 36,545 34,010 33,395 32,986
10,951 15,358 18,150 15,631 18,010
8,926 6,006 8,555 7,309 8,958
2,025 9,352 9,595 8,322 9,052
5,013 5,317 4,051 4,269 3,665
3,396 3,667 3,856 3,941 4,466
2,766 2,655 2,675 2,902 3,100
1,962 2,000 2,481 2,752 3,066
0 219 2,797 3,900 679
6,546 7,329 - - -
20,274 21,952 17,249 15,788 13,625
19,407 20,856 16,260 12,318 9,947
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
867 1,096 989 3,470 3,678
6,806 4,560 4,248 4,207 4,407
4,139 - - - -
2,667 - - - -
8,232 8,203 10,635 12,571 14,633
6,682 6,729 6,097 5,989 6,533
325 506 4,402 6,854 7,739
51 138 3,676 6,000 6,689
274 368 726 854 1,050
10,263 9,401 10,629 11,289 12,100
83,216 87,896 87,270 90,093 92,023
29,223 27,194 26,532 26,930 32,374
8,932 8,748 9,490 9,660 9,234
13,194 13,205 12,498 13,129 19,130
4,997 3,298 3,527 2,677 3,552
378 410 307 331 400
0 37 710 1,133 58
 1,722 1,496 - - -
25,364 31,182 29,684 28,407 19,063
7,638 8,021 4,081 4,301 4,389
1,933 2,522 3,753 4,691 5,636
19,058 18,977 23,220 25,764 30,561
16,981 17,072 23,062 25,554 30,320
1,760 1,760 1,760 1,760 1,760
16,520 15,864 14,993 14,016 13,154
63,234 60,430 65,502 65,018 63,408
-12,814 -10,305 -11,205 -10,174 -5,777
-51,719 -50,677 -47,988 -45,066 -42,225
2,077 1,905 158 210 241

-5.3 0.7 -3.1 -2.1 2.2

-16.2 7.5 1.8 1.2 5.4
-28.7 -15.4 16.1 -13.2 5.2
48.6 -29.8 17.0 -18.4 -14.0
-78.3 -2.5 15.3 -8.1 35.0
-5.7 31.3 -5.1 16.5 16.5
-7.4 -4.9 -2.2 -11.8 -8.4
4.2 -0.7 -7.8 -6.4 -5.4
-1.9 -19.4 -9.8 -10.2 6.2
-100.0 -92.2 -28.3 474.4 -
-10.7 - - - -
-7.6 27.3 9.3 15.9 18.4
-6.9 28.3 32.0 23.8 -4.3
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
-20.9 10.8 -71.5 -5.7 228.7
49.3 7.3 1.0 -4.5 -5.4
- - - - -
- - - - -
0.4 -22.9 -15.4 -14.1 -2.2
-0.7 10.4 1.8 -8.3 -3.1
-35.8 -88.5 -35.8 -11.4 -9.5
-63.0 -96.2 -38.7 -10.3 -9.8
-25.5 -49.3 -15.0 -18.7 -7.9
9.2 -11.6 -5.8 -6.7 -1.7
-5.3 0.7 -3.1 -2.1 2.2
7.5 2.5 -1.5 -16.8 16.4
 2.1 -7.8 -1.8 4.6 -3.6
-0.1 5.7 -4.8 -31.4 13.2
51.5 -6.5 31.8 -24.6 246.9
-7.8 33.6 -7.3 -17.3 29.4
-100.0 -94.8 -37.3 1,853.4 -
15.1 - - - -
-18.7 5.0 4.5 49.0 -0.5
-4.8 96.5 -5.1 -2.0 25.5
-23.4 -32.8 -20.0 -16.8 -8.4
0.4 -18.3 -9.9 -15.7 -8.6
-0.5 -26.0 -9.8 -15.7 -8.6
0.0 0.0 0.0 0.0 0.0
4.1 5.8 7.0 6.6 7.2
4.6 -7.7 0.7 2.5 2.8
-24.3 8.0 -10.1 -76.1 -68.3
-2.1 -5.6 -6.5 -6.7 -8.0
9.0 1,105.7 -24.8 -12.9 -9.7

100.0 100.0 100.0 100.0 100.0

36.8 41.6 39.0 37.1 35.8
13.2 17.5 20.8 17.3 19.6
10.7 6.8 9.8 8.1 9.7
2.4 10.6 11.0 9.2 9.8
6.0 6.0 4.6 4.7 4.0
4.1 4.2 4.4 4.4 4.9
3.3 3.0 3.1 3.2 3.4
2.4 2.3 2.8 3.1 3.3
0.0 0.2 3.2 4.3 0.7
7.9 8.3 - - -
24.4 25.0 19.8 17.5 14.8
23.3 23.7 18.6 13.7 10.8
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
1.0 1.2 1.1 3.9 4.0
8.2 5.2 4.9 4.7 4.8
5.0 - - - -
3.2 - - - -
9.9 9.3 12.2 14.0 15.9
8.0 7.7 7.0 6.6 7.1
0.4 0.6 5.0 7.6 8.4
 0.1 0.2 4.2 6.7 7.3
0.3 0.4 0.8 0.9 1.1
12.3 10.7 12.2 12.5 13.1
100.0 100.0 100.0 100.0 100.0
35.1 30.9 30.4 29.9 35.2
10.7 10.0 10.9 10.7 10.0
15.9 15.0 14.3 14.6 20.8
6.0 3.8 4.0 3.0 3.9
0.5 0.5 0.4 0.4 0.4
0.0 0.0 0.8 1.3 0.1
2.1 1.7 - - -
30.5 35.5 34.0 31.5 20.7
9.2 9.1 4.7 4.8 4.8
2.3 2.9 4.3 5.2 6.1
22.9 21.6 26.6 28.6 33.2
20.4 19.4 26.4 28.4 32.9
2.1 2.0 2.0 2.0 1.9
19.9 18.0 17.2 15.6 14.3
76.0 68.8 75.1 72.2 68.9
-15.4 -11.7 -12.8 -11.3 -6.3
-62.2 -57.7 -55.0 -50.0 -45.9
2.5 2.2 0.2 0.2 0.3
31 DEC '13 31 DEC '12 31 DEC '11 31 DEC '10 31 DEC '09
0P 0P 0P 0P 0P
10-K (27 Feb '14) 10-K (27 Feb '13) 10-K (23 Feb '12) 10-K (28 Feb '11) 10-K (26 Feb '10)

90,055 86,174 79,974 72,921 48,671

31,304 30,328 25,497 21,579 17,551
17,121 13,459 13,891 11,199 9,151
10,414 8,442 12,803 8,517 7,021
6,707 5,017 1,088 2,682 2,130
3,147 3,092 144 138 62
4,873 4,759 4,920 4,430 3,758
3,277 3,264 3,092 2,650 2,354
2,886 2,781 3,450 3,162 2,226
0 2,973 - - -
- - - - -
11,512 10,448 8,374 7,585 6,755
10,393 9,216 7,233 6,954 6,217
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
1,119 1,232 1,141 631 538
4,661 3,585 3,495 2,121 1,976
- - - - -
- - - - -
14,967 14,476 14,939 14,727 9,561
6,744 6,527 6,430 6,356 6,183
8,555 8,555 9,020 8,888 2,421
7,415 7,405 7,770 7,511 -
1,140 1,150 1,250 1,377 -
12,312 12,255 12,219 11,665 4,224
90,055 86,174 79,974 72,921 48,671
27,811 27,821 24,283 18,508 13,721
9,577 8,680 9,009 8,859 6,657
16,901 16,297 12,871 8,100 6,749
1,024 1,577 2,041 1,276 51
309 471 362 273 264
0 796 - - -
- - - - -
19,154 14,736 13,656 14,041 5,059
3,498 5,468 5,420 4,794 2,965
6,152 4,981 4,694 4,261 1,580
33,440 33,168 31,921 31,317 25,346
33,173 32,790 31,635 31,003 24,799
1,760 1,760 880 880 880
12,276 11,379 11,212 10,057 8,537
61,660 58,045 53,550 49,278 41,537
-3,432 -3,385 -2,703 -1,450 -757
-39,091 -35,009 -31,304 -27,762 -25,398
267 378 286 314 547

4.5 7.8 9.7 49.8 20.1

3.2 18.9 18.2 23.0 44.1
27.2 -3.1 24.0 22.4 94.7
23.4 -34.1 50.3 21.3 -
33.7 361.1 -59.4 25.9 -
1.8 2,047.2 4.3 122.6 -77.7
2.4 -3.3 11.1 17.9 21.6
0.4 5.6 16.7 12.6 7.6
3.8 -19.4 9.1 42.0 15.9
-100.0 - - - -
- - - - -
10.2 24.8 10.4 12.3 16.9
12.8 27.4 4.0 11.9 16.9
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
-9.2 8.0 80.8 17.3 16.2
30.0 2.6 64.8 7.3 14.0
- - - - -
- - - - -
3.4 -3.1 1.4 54.0 14.8
3.3 1.5 1.2 2.8 2.0
0.0 -5.2 1.5 267.1 0.2
0.1 -4.7 3.4 - -
-0.9 -8.0 -9.2 - -
0.5 0.3 4.7 176.2 4.8
4.5 7.8 9.7 49.8 20.1
0.0 14.6 31.2 34.9 5.6
 10.3 -3.7 1.7 33.1 7.3
3.7 26.6 58.9 20.0 11.3
-35.1 -22.7 60.0 2,402.0 -89.0
-34.4 30.1 32.6 3.4 4.8
-100.0 - - - -
- - - - -
30.0 7.9 -2.7 177.5 81.9
-36.0 0.9 13.1 61.7 -12.8
23.5 6.1 10.2 169.7 80.2
0.8 3.9 1.9 23.6 23.8
1.2 3.7 2.0 25.0 21.1
0.0 100.0 0.0 0.0 0.0
7.9 1.5 11.5 17.8 7.2
6.2 8.4 8.7 18.6 7.9
-1.4 -25.2 -86.4 -91.5 71.7
-11.7 -11.8 -12.8 -9.3 -4.9
-29.4 32.2 -8.9 -42.6 -

100.0 100.0 100.0 100.0 100.0

34.8 35.2 31.9 29.6 36.1
19.0 15.6 17.4 15.4 18.8
11.6 9.8 16.0 11.7 14.4
7.4 5.8 1.4 3.7 4.4
3.5 3.6 0.2 0.2 0.1
5.4 5.5 6.2 6.1 7.7
3.6 3.8 3.9 3.6 4.8
3.2 3.2 4.3 4.3 4.6
0.0 3.4 - - -
- - - - -
12.8 12.1 10.5 10.4 13.9
11.5 10.7 9.0 9.5 12.8
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
1.2 1.4 1.4 0.9 1.1
5.2 4.2 4.4 2.9 4.1
- - - - -
- - - - -
16.6 16.8 18.7 20.2 19.6
7.5 7.6 8.0 8.7 12.7
9.5 9.9 11.3 12.2 5.0
 8.2 8.6 9.7 10.3 -
1.3 1.3 1.6 1.9 -
13.7 14.2 15.3 16.0 8.7
100.0 100.0 100.0 100.0 100.0
30.9 32.3 30.4 25.4 28.2
10.6 10.1 11.3 12.1 13.7
18.8 18.9 16.1 11.1 13.9
1.1 1.8 2.6 1.7 0.1
0.3 0.5 0.5 0.4 0.5
0.0 0.9 - - -
- - - - -
21.3 17.1 17.1 19.3 10.4
3.9 6.3 6.8 6.6 6.1
6.8 5.8 5.9 5.8 3.2
37.1 38.5 39.9 42.9 52.1
36.8 38.1 39.6 42.5 51.0
2.0 2.0 1.1 1.2 1.8
13.6 13.2 14.0 13.8 17.5
68.5 67.4 67.0 67.6 85.3
-3.8 -3.9 -3.4 -2.0 -1.6
-43.4 -40.6 -39.1 -38.1 -52.2
0.3 0.4 0.4 0.4 1.1
31 DEC '08 31 DEC '07 31 DEC '06
0P 0P 0P
10-K (26 Feb '09) 10-K (28 Feb '08) 10-K (21 Feb '07)

40,519 43,269 29,963

12,176 12,105 8,441
4,701 4,093 2,440
- - -
- - -
278 215 150
3,090 3,317 2,587
2,187 2,220 1,641
1,920 2,260 1,623
- - -
- - -
5,779 7,777 6,783
5,316 7,289 6,310
1,487 1,549 1,251
877 996 835
638 806 817
0 1,637 1,312
2,314 2,301 2,095
463 488 473
1,733 2,675 2,701
- - -
- - -
8,326 8,493 6,903
6,059 5,153 2,045
2,417 2,810 1,687
- - -
- - -
4,029 4,256 1,403
40,519 43,269 29,963
12,988 13,225 8,890
6,205 6,915 5,055
6,066 5,919 3,235
465 133 33
252 258 567
- - -
- - -
2,781 3,277 1,314
3,401 3,133 2,231
877 1,890 608
20,472 21,744 16,920
20,472 21,744 16,920
880 880 878
7,966 7,378 5,983
38,513 36,235 33,468
-2,674 626 -1,291
-24,213 -23,375 -22,118
- - -

-6.4 44.4 -
0.6 43.4 -
14.9 67.7 -
- - -
- - -
29.3 43.3 -
-6.8 28.2 -
-1.5 35.3 -
-15.0 39.2 -
- - -
- - -
-25.7 14.7 -
-27.1 15.5 -
-4.0 23.8 -
-11.9 19.3 -
-20.8 -1.3 -
-100.0 24.8 -
0.6 9.8 -
-5.1 3.2 -
-35.2 -1.0 -
- - -
- - -
-2.0 23.0 -
17.6 152.0 -
-14.0 66.6 -
- - -
- - -
-5.3 203.3 -
-6.4 44.4 -
-1.8 48.8 -
 -10.3 36.8 -
2.5 83.0 -
249.6 303.0 -
-2.3 -54.5 -
- - -
- - -
-15.1 149.4 -
8.6 40.4 -
-53.6 210.9 -
-5.8 28.5 -
-5.8 28.5 -
0.0 0.2 -
8.0 23.3 -
6.3 8.3 -
-527.2 - -
-3.6 -5.7 -
- - -

100.0 100.0 100.0

30.1 28.0 28.2
11.6 9.5 8.1
- - -
- - -
0.7 0.5 0.5
7.6 7.7 8.6
5.4 5.1 5.5
4.7 5.2 5.4
- - -
- - -
14.3 18.0 22.6
13.1 16.8 21.1
3.7 3.6 4.2
2.2 2.3 2.8
1.6 1.9 2.7
0.0 3.8 4.4
5.7 5.3 7.0
1.1 1.1 1.6
4.3 6.2 9.0
- - -
- - -
20.5 19.6 23.0
15.0 11.9 6.8
6.0 6.5 5.6
- - -
- - -
9.9 9.8 4.7
100.0 100.0 100.0
32.1 30.6 29.7
15.3 16.0 16.9
15.0 13.7 10.8
1.1 0.3 0.1
0.6 0.6 1.9
- - -
- - -
6.9 7.6 4.4
8.4 7.2 7.4
2.2 4.4 2.0
50.5 50.3 56.5
50.5 50.3 56.5
2.2 2.0 2.9
19.7 17.1 20.0
95.0 83.7 111.7
-6.6 1.4 -4.3
-59.8 -54.0 -73.8
- - -
Coca-Cola Company
KO 191216100 2206657 NYSE Common stock
FactSet Fundamentals

Income Statement
Net operating revenues
Cost of goods sold
Gross profit
Selling, general and administrative expenses
Other cost and expense, operating
Operating income
Interest income
Interest expense
Equity income / loss - net
Other income / loss - net
Gains on issuances of stock by equity method investees
Income before income taxes
Income taxes
Income / loss from continuing operations, net of tax, including portion attributable to noncontrolling interest
Income from discontinued operations, net of income taxes
Consolidated net income
Net income / loss attributable to noncontrolling interests
Net income attributable to shareowners of The Coca-Cola Company
Per share
Basic
Continuing operations
Discontinued operations
Diluted
Continuing operations
Discontinued operations
Weighted average shares
Basic
Diluted
Non-GAAP
Net operating revenues - reported (GAAP)
Other adjustments
Transaction gains / losses
Other items
Net operating revenues - comparable (Non-GAAP)
Gross profit - reported (GAAP)
Gain/loss on sale of investments/derivates
Other items
Gain/loss on FV adjustments
Other items
Other adjustments
Transaction gains / losses
CCBA unrecognized depreciation and amortization
Other Items
Gross profit - comparable (Non-GAAP)

Operating income - reported (GAAP)

Acquisition related expense
CCE transaction
Restructuring charges
Productivity and reinvestment
Productivity initiatives
Asset impairments
Asset impairments
Intangible asset impairment
Other Items
Gain/loss on sale of investments/derivates
Other items
Gain/loss on FV adjustments
Transaction gains / losses
Other items
Other adjustments
CCBA unrecognized depreciation and amortization
Other items
Tax related gain/loss
Other items
Operating income - comparable (Non-GAAP)

Income before income taxes - reported (GAAP)

Acquisition related expense
CCE transaction
Restructuring charges
Productivity and reinvestment
Productivity initiatives
Gain/loss on extinguishment of debt
Other Items
Intangible asset impairment
 Asset impairments
Other Items
Gain/loss on sale of investments/derivates
Other items
Gain/loss on FV adjustments
Transaction gains / losses
Other items
Gain/loss on equity method investments
Equity investees
Currency related gain/loss
Other items
Other adjustments
CCBA unrecognized depreciation and amortization
Other items
Tax related gain/loss
Other items
Income before income taxes - comparable (Non-GAAP)

Net income / loss - reported (GAAP)

Acquisition related expense
CCE transaction
Restructuring charges
Productivity and reinvestment
Productivity initiatives
Gain/loss on extinguishment of debt
Other Items
Intangible asset impairment
Asset impairments
Other Items
Gain/loss on sale of investments/derivates
Other Items
Gain/loss on FV adjustments
Transaction gains / losses
Other Items
Gain/loss on equity method investments
Equity investees
Currency related gain/loss
Other items
Other adjustments
CCBA unrecognized depreciation and amortization
Other Items
Tax related gain/loss
Other Items
 Certain tax matters
Net income / loss - comparable (Non-GAAP)

Diluted net income / loss per share - reported (GAAP)

Acquisition related expense
CCE transaction
Restructuring charges
Productivity and reinvestment
Productivity initiatives
Gain/loss on extinguishment of debt
Other Items
Intangible asset impairment
Asset impairments
Other Items
Gain/loss on sale of investments/derivates
Other items
Gain/loss on FV adjustments
Transaction gains / losses
Other items
Gain/loss on equity method investments
Equity investees
Currency related gain/loss
Other items
Other adjustments
CCBA unrecognized depreciation and amortization
Other items
Impact of dilutive securities
Tax related gain/loss
Other items
Certain tax matters
Diluted net income / loss per share - comparable (Non-GAAP)
Growth (YoY%)
Net operating revenues
Cost of goods sold
Gross profit
Selling, general and administrative expenses
Other cost and expense, operating
Operating income
Interest income
Interest expense
Equity income / loss - net
Other income / loss - net
Gains on issuances of stock by equity method investees
Income before income taxes
Income taxes
Income / loss from continuing operations, net of tax, including portion attributable to noncontrolling interest
Income from discontinued operations, net of income taxes
Consolidated net income
Net income / loss attributable to noncontrolling interests
Net income attributable to shareowners of The Coca-Cola Company
Per share
Basic
Continuing operations
Discontinued operations
Diluted
Continuing operations
Discontinued operations
Weighted average shares
Basic
Diluted
Common Size
Net operating revenues
Cost of goods sold
Gross profit
Selling, general and administrative expenses
Other cost and expense, operating
Operating income
Interest income
Interest expense
Equity income / loss - net
Other income / loss - net
Gains on issuances of stock by equity method investees
Income before income taxes
Income taxes
Income / loss from continuing operations, net of tax, including portion attributable to noncontrolling interest
Income from discontinued operations, net of income taxes
Consolidated net income
Net income / loss attributable to noncontrolling interests
Net income attributable to shareowners of The Coca-Cola Company
All figures in millions of U.S. Dollar except per share items.
31 DEC '19 31 DEC '18 31 DEC '17 31 DEC '16 31 DEC '15
12M 12M 12M 12M 12M
10-K (24 Feb '20) 10-K (21 Feb '19) 10-K (23 Feb '18) 10-K (24 Feb '17) 10-K (25 Feb '16)
PRELIM PRELIM PRELIM PRELIM PRELIM

37,266 31,856 35,410 41,863 44,294

-14,619 -11,770 -13,256 -16,465 -17,482
22,647 20,086 22,154 25,398 26,812
-12,103 -10,307 -12,496 -15,262 -16,427
-458 -1,079 -2,157 -1,510 -1,657
10,086 8,700 7,501 8,626 8,728
563 682 677 642 613
-946 -919 -841 -733 -856
1,049 1,008 1,071 835 489
34 -1,121 -1,666 -1,234 631
- - - - -
10,786 8,350 6,742 8,136 9,605
-1,801 -1,623 -5,560 -1,586 -2,239
8,985 6,727 1,182 6,550 7,366
- -251 101 - -
8,985 6,476 1,283 6,550 7,366
-65 -42 -35 -23 -15
8,920 6,434 1,248 6,527 7,351

2.09 1.51 0.29 1.51 1.69

- 1.58 0.28 - -
- -0.07 0.02 - -
2.07 1.50 0.29 1.49 1.67
- 1.57 0.27 - -
- -0.07 0.02 - -

4,276.0 4,259.0 4,272.0 4,317.0 4,352.0

4,314.0 4,299.0 4,324.0 4,367.0 4,405.0

37,266 31,856 35,410 41,863 44,294

14 -9 6 -9 -37
- - 0 0 0
14 -9 6 -9 -37
37,280 31,847 35,416 41,854 44,257
 22,647 20,086 22,154 25,398 26,812
- - - - -
- - - - -
13 25 - - -
13 25 - - -
-39 0 37 -157 29
- 0 3 0 0
-39 - - - -
- - 34 -157 29
22,621 20,111 22,191 25,241 26,841

10,086 8,700 7,501 8,626 8,728

- - - - -
- - - - -
264 440 650 352 691
264 440 650 352 691
- - - - -
42 450 737 393 292
42 450 737 393 292
- - - - -
- - - - -
- - - - -
- - - - -
149 216 441 456 448
149 158 441 456 448
- 58 - - -
-132 - 368 131 214
-148 - - - -
16 - 368 131 214
- - - - -
- - - - -
10,409 9,806 9,697 9,958 10,373

10,786 8,350 6,742 8,136 9,605

- - - - -
- - - - -
264 508 650 352 691
264 508 650 352 691
- - - - -
- - - - 598
- - - - 598
809 1,041 787 393 292
 809 1,041 787 393 292
- - - - -
- - - - -
- - - - -
-501 988 2,212 1,623 97
-317 539 2,212 1,623 97
-184 449 - - -
100 111 92 61 87
100 111 92 61 87
- - - - -
- - - - -
-148 - 406 244 -
-148 - - - -
- - 406 244 -
- - - - -
- - - - -
11,310 10,998 10,889 10,809 11,370

8,920 6,727 1,182 6,527 7,351

- - - - -
- - - - -
203 388 420 230 432
203 388 420 230 432
- - - - -
- - - - 440
- - - - 440
773 925 631 337 292
773 925 631 337 292
- - - - -
- - - - -
- - - - -
-490 874 2,129 899 205
-343 535 2,129 899 205
-147 339 - - -
96 120 70 50 82
96 120 70 50 82
- - - - -
- - - - -
-67 - 260 222 -
-67 - - - -
- - 260 222 -
-331 -92 3,583 89 -5
- - - - -
 -331 -92 3,583 89 -5
9,104 8,942 8,275 8,354 8,797

2.07 1.57 0.27 1.49 1.67

- - - - -
- - - - -
0.05 0.09 0.10 0.05 0.10
0.05 0.09 0.10 0.05 0.10
- - - - -
- - - - -
- - - - -
0.18 0.22 0.15 0.08 0.07
0.18 0.22 0.15 0.08 0.07
- - - - -
- - - - -
- - - - -
-0.11 0.20 0.49 0.21 0.15
-0.08 0.12 0.49 0.21 0.05
-0.03 0.08 - - 0.10
0.02 0.03 0.02 0.01 0.02
0.02 0.03 0.02 0.01 0.02
- - - - -
- - - - -
-0.02 - 0.06 0.05 -
-0.02 - - - -
- - 0.06 0.05 -
- - - - -
-0.08 -0.02 0.83 0.02 0.00
- - - - -
-0.08 -0.02 0.83 0.02 0.00
2.11 2.08 1.91 1.91 2.00

17.0 -10.0 -15.4 -5.5 -3.7

-24.2 11.2 19.5 5.8 2.3
12.8 -9.3 -12.8 -5.3 -4.6
-17.4 17.5 18.1 7.1 4.6
57.6 50.0 -42.8 8.9 -40.1
15.9 16.0 -13.0 -1.2 -10.1
-17.4 0.7 5.5 4.7 3.2
-2.9 -9.3 -14.7 14.4 -77.2
4.1 -5.9 28.3 70.8 -36.4
- 32.7 -35.0 -295.6 -
- - - - -
 29.2 23.9 -17.1 -15.3 3.0
-11.0 70.8 -250.6 29.2 -1.7
33.6 469.1 -82.0 -11.1 3.4
- -348.5 - - -
38.7 404.8 -80.4 -11.1 3.4
-54.8 -20.0 -52.2 -53.3 42.3
38.6 415.5 -80.9 -11.2 3.6

38.4 420.7 -80.8 -10.7 4.3

- 464.3 - - -
- -450.0 - - -
38.0 417.2 -80.5 -10.8 4.4
- 481.5 - - -
- -450.0 - - -

0.4 -0.3 -1.0 -0.8 -0.8

0.3 -0.6 -1.0 -0.9 -1.0

100.0 100.0 100.0 100.0 100.0

-39.2 -36.9 -37.4 -39.3 -39.5
60.8 63.1 62.6 60.7 60.5
-32.5 -32.4 -35.3 -36.5 -37.1
-1.2 -3.4 -6.1 -3.6 -3.7
27.1 27.3 21.2 20.6 19.7
1.5 2.1 1.9 1.5 1.4
-2.5 -2.9 -2.4 -1.8 -1.9
2.8 3.2 3.0 2.0 1.1
0.1 -3.5 -4.7 -2.9 1.4
- - - - -
28.9 26.2 19.0 19.4 21.7
-4.8 -5.1 -15.7 -3.8 -5.1
24.1 21.1 3.3 15.6 16.6
- -0.8 0.3 - -
24.1 20.3 3.6 15.6 16.6
-0.2 -0.1 -0.1 -0.1 0.0
23.9 20.2 3.5 15.6 16.6
31 DEC '14 31 DEC '13 31 DEC '12 31 DEC '11 31 DEC '10
12M 12M 12M 12M 12M
10-K (25 Feb '15) 10-K (27 Feb '14) 10-K (27 Feb '13) 10-K (23 Feb '12) 10-K (28 Feb '11)
PRELIM

45,998 46,854 48,017 46,542 35,119

-17,889 -18,421 -19,053 -18,216 -12,693
28,109 28,433 28,964 28,326 22,426
-17,218 -17,310 -17,738 -17,440 -13,158
-1,183 -895 -447 -732 -819
9,708 10,228 10,779 10,154 8,449
594 534 471 483 317
-483 -463 -397 -417 -733
769 602 819 690 1,025
-1,263 576 137 529 5,185
- - - - -
9,325 11,477 11,809 11,439 14,243
-2,201 -2,851 -2,723 -2,805 -2,384
7,124 8,626 9,086 8,634 11,859
- - - - -
7,124 8,626 9,086 8,634 11,859
-26 -42 -67 -62 -50
7,098 8,584 9,019 8,572 11,809

1.62 1.94 2.00 1.88 2.56

- - - - -
- - - - -
1.60 1.90 1.97 1.85 2.53
- - - - -
- - - - -

4,387.0 4,434.0 4,504.0 4,568.0 4,616.0

4,450.0 4,509.0 4,584.0 4,646.0 4,666.0

45,998 - - - -
14 - - - -
0- - - -
14 - - - -
46,012 - - - -
 28,109 - - - -
- - - - -
- - - - -
- - - - -
- - - - -
1- - - -
0- - - -
- - - - -
1- - - -
28,110 - - - -

9,708 - - - -
0- - - -
0- - - -
601 - - - -
601 - - - -
0- - - -
208 - - - -
208 - - - -
- - - - -
- - - - -
- - - - -
- - - - -
22 - - - -
22 - - - -
- - - - -
415 - - - -
- - - - -
415 - - - -
- - - - -
- - - - -
10,954 - - - -

9,325 - - - -
0- - - -
0- - - -
601 - - - -
601 - - - -
0- - - -
- - - - -
- - - - -
208 - - - -
 208 - - - -
- - - - -
- - - - -
- - - - -
853 - - - -
853 - - - -
- - - - -
18 - - - -
18 - - - -
758 - - - -
758 - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
11,763 - - - -

7,098 - - - -
0- - - -
0- - - -
410 - - - -
410 - - - -
0- - - -
- - - - -
- - - - -
208 - - - -
208 - - - -
- - - - -
- - - - -
- - - - -
557 - - - -
557 - - - -
- - - - -
12 - - - -
12 - - - -
799 - - - -
799 - - - -
- - - - -
- - - - -
- - - - -
7- - - -
- - - - -
 7- - - -
9,091 - - - -

1.60 - - - -
0.00 - - - -
0.00 - - - -
0.09 - - - -
0.09 - - - -
0.00 - - - -
- - - - -
- - - - -
0.05 - - - -
0.05 - - - -
- - - - -
- - - - -
- - - - -
0.13 - - - -
0.13 - - - -
- - - - -
0.00 - - - -
0.00 - - - -
0.18 - - - -
0.18 - - - -
- - - - -
- - - - -
- - - - -
- - - - -
0.00 - - - -
- - - - -
0.00 - - - -
2.04 - - - -

-1.8 -2.4 3.2 32.5 13.3

2.9 3.3 -4.6 -43.5 -14.5
-1.1 -1.8 2.3 26.3 12.7
0.5 2.4 -1.7 -32.5 -15.8
-32.2 -100.2 38.9 10.6 -161.7
-5.1 -5.1 6.2 20.2 2.6
11.2 13.4 -2.5 52.4 27.3
-4.3 -16.6 4.8 43.1 -106.5
27.7 -26.5 18.7 -32.7 31.2
-319.3 320.4 -74.1 -89.8 12,862.5
- - - - -
 -18.8 -2.8 3.2 -19.7 59.2
22.8 -4.7 2.9 -17.7 -16.9
-17.4 -5.1 5.2 -27.2 71.7
- - - - -
-17.4 -5.1 5.2 -27.2 71.7
38.1 37.3 -8.1 -24.0 39.0
-17.3 -4.8 5.2 -27.4 73.1

-16.5 -3.0 6.7 -26.8 73.6

- - - - -
- - - - -
-15.8 -3.6 6.8 -27.1 72.7
- - - - -
- - - - -

-1.1 -1.6 -1.4 -1.0 -0.3

-1.3 -1.6 -1.3 -0.4 0.2

100.0 100.0 100.0 100.0 100.0

-38.9 -39.3 -39.7 -39.1 -36.1
61.1 60.7 60.3 60.9 63.9
-37.4 -36.9 -36.9 -37.5 -37.5
-2.6 -1.9 -0.9 -1.6 -2.3
21.1 21.8 22.4 21.8 24.1
1.3 1.1 1.0 1.0 0.9
-1.1 -1.0 -0.8 -0.9 -2.1
1.7 1.3 1.7 1.5 2.9
-2.7 1.2 0.3 1.1 14.8
- - - - -
20.3 24.5 24.6 24.6 40.6
-4.8 -6.1 -5.7 -6.0 -6.8
15.5 18.4 18.9 18.6 33.8
- - - - -
15.5 18.4 18.9 18.6 33.8
-0.1 -0.1 -0.1 -0.1 -0.1
15.4 18.3 18.8 18.4 33.6
31 DEC '09 31 DEC '08 31 DEC '07 31 DEC '06
12M 12M 12M 12M
10-K (26 Feb '10) 10-K (26 Feb '09) 10-K (28 Feb '08) 10-K (21 Feb '07)

30,990 31,944 28,857 24,088

-11,088 -11,374 -10,406 -8,164
19,902 20,570 18,451 15,924
-11,358 -11,774 -10,945 -9,431
-313 -350 -254 -185
8,231 8,446 7,252 6,308
249 333 236 193
-355 -438 -456 -220
781 -874 668 102
40 -28 173 195
- - 0 0
8,946 7,439 7,873 6,578
-2,040 -1,632 -1,892 -1,498
6,906 5,807 5,981 5,080
- - - -
6,906 5,807 5,981 5,080
-82 - - -
6,824 5,807 5,981 5,080

1.48 1.26 1.30 1.08

- - - -
- - - -
1.47 1.25 1.29 1.08
- - - -
- - - -

4,628.0 4,630.0 4,626.0 4,696.0

4,658.0 4,672.0 4,662.0 4,700.0

- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -

- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -

- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -

- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -

- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -
- - - -

-3.0 10.7 19.8 -

2.5 -9.3 -27.5 -
-3.2 11.5 15.9 -
3.5 -7.6 -16.1 -
10.6 -37.8 -37.3 -
-2.5 16.5 15.0 -
-25.2 41.1 22.3 -
18.9 3.9 -107.3 -
- -230.8 554.9 -
- -116.2 -11.3 -
- - - -
 20.3 -5.5 19.7 -
-25.0 13.7 -26.3 -
18.9 -2.9 17.7 -
- - - -
18.9 -2.9 17.7 -
- - - -
17.5 -2.9 17.7 -

17.5 -3.1 19.9 -

- - - -
- - - -
17.7 -3.1 19.0 -
- - - -
- - - -

0.0 0.1 -1.5 -

-0.3 0.2 -0.8 -

100.0 100.0 100.0 100.0

-35.8 -35.6 -36.1 -33.9
64.2 64.4 63.9 66.1
-36.7 -36.9 -37.9 -39.2
-1.0 -1.1 -0.9 -0.8
26.6 26.4 25.1 26.2
0.8 1.0 0.8 0.8
-1.1 -1.4 -1.6 -0.9
2.5 -2.7 2.3 0.4
0.1 -0.1 0.6 0.8
- - 0.0 0.0
28.9 23.3 27.3 27.3
-6.6 -5.1 -6.6 -6.2
22.3 18.2 20.7 21.1
- - - -
22.3 18.2 20.7 21.1
-0.3 - - -
22.0 18.2 20.7 21.1
Coca-Cola Company
KO 191216100 2206657 NYSE Common stock
FactSet Fundamentals
31 DEC '19
12M
10-K (24 Feb '20)
Cash Flow
Net cash provided by operating activities 10,471
Income / loss from continuing operations, net of tax, including portion 8,985
Consolidated net income 8,985
Income / loss from discontinued operations (net of income taxes) -
Depreciation and amortization 1,365
Stock-based compensation expense 201
Deferred income taxes -280
Equity income / loss - net of dividends -421
Foreign currency adjustments 91
Significant gains / losses on sales of assets - net -467
Other operating charges 127
Other items 504
Gain / loss on equity securities -
Other items excluding gain / loss on equity securities -
Gains on issuances of stock by equity investees -
Other significant gains / losses - net -
Net change in operating assets and liabilities 366
Net cash provided by / used in investing activities -3,976
Purchases of investments -4,704
Purchases of other investments -
Purchases of short-term investments -
Purchases of other investments excluding purchases of short-term inv -
Proceeds from disposals of investments 6,973
Proceeds from disposals of Bottling Companies and other investmen-
Proceeds from disposals of short-term investments -
Proceeds from disposals of Bottling Companies and other investments -
Acquisitions of businesses, equity method investments and nonmarketable securi -5,542
Proceeds from disposals of businesses, equity method investments and nonmarke 429
Purchases of property, plant and equipment -2,054
Proceeds from disposals of property, plant and equipment 978
Other investing activities -56
Net cash provided by / used in financing activities -9,004
Issuances of debt 23,009
Payments of debt -24,850
Issuances of stock 785
 Issuances of stock excluding other financing activities 1,012
Other financing activities -227
Purchases of stock for treasury -1,103
Payments of dividends -6,845
Net cash provided by / used in discontinued operations -
Net cash provided by / used in operating activities -
Net cash provided by / used in investing activities -
Net cash provided by / used in financing activities -
Effect of exchange rate changes on cash and cash equivalents -72
Net increase / decrease in cash, cash equivalents, restricted cash and restricted cas -2,581
Cash and cash equivalents balance at beginning of period 9,318
Cash and cash equivalents balance at end of period 6,737
Restricted cash and restricted cash equivalents at end of period 257
Cash and cash equivalents at end of period 6,480
Growth (YoY%)
Net cash provided by operating activities 43.0
Income / loss from continuing operations, net of tax, including portion 33.6
Consolidated net income 38.7
Income / loss from discontinued operations (net of income taxes) -
Depreciation and amortization 25.7
Stock-based compensation expense -10.7
Deferred income taxes 37.8
Equity income / loss - net of dividends 7.9
Foreign currency adjustments -
Significant gains / losses on sales of assets - net -347.1
Other operating charges -77.2
Other items -26.1
Gain / loss on equity securities -
Other items excluding gain / loss on equity securities -
Gains on issuances of stock by equity investees -
Other significant gains / losses - net -
Net change in operating assets and liabilities -
Net cash provided by / used in investing activities -162.6
Purchases of investments 39.6
Purchases of other investments -
Purchases of short-term investments -
Purchases of other investments excluding purchases of short-term inv -
Proceeds from disposals of investments -53.4
Proceeds from disposals of Bottling Companies and other investmen-
Proceeds from disposals of short-term investments -
Proceeds from disposals of Bottling Companies and other investments -
Acquisitions of businesses, equity method investments and nonmarketable securi -432.9
Proceeds from disposals of businesses, equity method investments and nonmarke -68.5
 Purchases of property, plant and equipment -52.5
Proceeds from disposals of property, plant and equipment 299.2
Other investing activities 6.7
Net cash provided by / used in financing activities 14.7
Issuances of debt -15.8
Payments of debt 18.7
Issuances of stock -36.3
Issuances of stock excluding other financing activities -31.4
Other financing activities 6.6
Purchases of stock for treasury 42.3
Payments of dividends -3.0
Net cash provided by / used in discontinued operations -
Net cash provided by / used in operating activities -
Net cash provided by / used in investing activities -
Net cash provided by / used in financing activities -
Effect of exchange rate changes on cash and cash equivalents 72.5
Net increase / decrease in cash, cash equivalents, restricted cash and restricted cas -187.6
Cash and cash equivalents balance at beginning of period 46.2
Cash and cash equivalents balance at end of period -27.7
Restricted cash and restricted cash equivalents at end of period -34.4
Cash and cash equivalents at end of period -27.4
All figures in millions of U.S. Dollar.
31 DEC '18 31 DEC '17 31 DEC '16 31 DEC '15 31 DEC '14
12M 12M 12M 12M 12M
10-K (21 Feb '19) 10-K (23 Feb '18) 10-K (24 Feb '17) 10-K (25 Feb '16) 10-K (25 Feb '15)

7,320 6,995 8,796 10,528 10,615

6,727 1,182 6,550 7,366 7,124
6,476 1,283 6,550 7,366 7,124
251 -101 - - -
1,086 1,260 1,787 1,970 1,976
225 219 258 236 209
-450 -1,256 -856 73 -40
-457 -628 -449 -122 -371
-38 281 158 -137 415
189 1,459 1,146 -374 831
558 1,218 647 929 761
682 -269 -224 744 149
- - - - -
682 -269 -224 744 149
- - - - -
- - - - -
-1,202 3,529 -221 -157 -439
6,348 -2,385 -999 -6,186 -7,506
-7,789 -16,520 -15,499 -15,831 -17,800
- - - - -
- - - - -
- - - - -
14,977 15,911 16,624 14,079 12,986
- - - - -
- - - - -
- - - - -
-1,040 -3,900 -838 -2,491 -389
1,362 3,821 1,035 565 148
-1,347 -1,675 -2,262 -2,553 -2,406
245 104 150 85 223
-60 -126 -209 -40 -268
-10,552 -7,409 -6,545 -5,113 -3,631
27,339 29,857 27,281 40,434 41,674
-30,568 -28,768 -25,615 -37,738 -36,962
1,233 1,504 1,513 1,496 1,169
 1,476 1,595 1,434 1,245 1,532
-243 -91 79 251 -363
-1,912 -3,682 -3,681 -3,564 -4,162
-6,644 -6,320 -6,043 -5,741 -5,350
91 8- - -
307 111 - - -
-421 -65 - - -
205 -38 - - -
-262 242 -6 -878 -934
2,945 -2,549 1,246 -1,649 -1,456
6,373 8,555 7,309 8,958 10,414
9,318 6,006 8,555 7,309 8,958
392 - - - -
8,926 - - - -

4.6 -20.5 -16.5 -0.8 0.7

469.1 -82.0 -11.1 3.4 -17.4
404.8 -80.4 -11.1 3.4 -17.4
- - - - -
-13.8 -29.5 -9.3 -0.3 -0.1
2.7 -15.1 9.3 12.9 -7.9
64.2 -46.7 -1,272.6 - -106.2
27.2 -39.9 -268.0 67.1 -84.6
-113.5 77.8 - -133.0 147.0
-87.0 27.3 - -145.0 -
-54.2 88.3 -30.4 22.1 63.7
- -20.1 -130.1 399.3 -36.3
- - - - -
- -20.1 -130.1 399.3 -36.3
- - - - -
- - - - -
-134.1 - -40.8 64.2 52.9
- -138.7 83.9 17.6 -78.1
52.9 -6.6 2.1 11.1 -20.4
- - - - -
- - - - -
- - - - -
-5.9 -4.3 18.1 8.4 1.5
- - - - -
- - - - -
- - - - -
73.3 -365.4 66.4 -540.4 -10.2
-64.4 269.2 83.2 281.8 -83.0
 19.6 26.0 11.4 -6.1 5.6
135.6 -30.7 76.5 -61.9 100.9
52.4 39.7 -422.5 85.1 11.6
-42.4 -13.2 -28.0 -40.8 3.0
-8.4 9.4 -32.5 -3.0 -4.0
-6.3 -12.3 32.1 -2.1 4.5
-18.0 -0.6 1.1 28.0 -13.1
-7.5 11.2 15.2 -18.7 15.4
-167.0 -215.2 -68.5 - -2,235.3
48.1 0.0 -3.3 14.4 13.9
-5.1 -4.6 -5.3 -7.3 -7.7
1,037.5 - - - -
176.6 - - - -
-547.7 - - - -
- - - - -
-208.3 - 99.3 6.0 -52.9
- -304.6 - -13.3 -173.8
-25.5 17.0 -18.4 -14.0 23.4
55.1 -29.8 17.0 -18.4 -14.0
- - - - -
- - - - -
31 DEC '13 31 DEC '12 31 DEC '11 31 DEC '10 31 DEC '09
12M 12M 12M 12M 12M
10-K (27 Feb '14) 10-K (27 Feb '13) 10-K (23 Feb '12) 10-K (28 Feb '11) 10-K (26 Feb '10)

10,542 10,645 9,474 9,532 8,186

8,626 9,086 8,634 11,859 6,906
8,626 9,086 8,634 11,859 6,906
- - - - -
1,977 1,982 1,954 1,443 1,236
227 259 354 380 241
648 632 1,028 617 353
-201 -426 -269 -671 -359
168 -130 7 151 61
-670 -98 -220 -645 -43
465 166 214 264 134
234 254 -335 477 221
- - - - -
234 254 -335 477 221
- - - - -
- 0 0 -4,713 -
-932 -1,080 -1,893 370 -564
-4,214 -11,404 -2,524 -4,405 -4,149
-14,782 - - - -
- -14,856 -4,844 -4,711 -2,152
- -9,590 -4,057 -4,579 -
- -5,266 -787 -132 -
12,791 - - - -
- 7,811 6,209 5,004 240
- 5,622 5,647 4,032 -
- 2,189 562 972 -
-353 -1,535 -977 -2,511 -300
872 - - - -
-2,550 -2,780 -2,920 -2,215 -1,993
111 143 101 134 104
-303 -187 -93 -106 -48
-3,745 -3,347 -2,234 -3,465 -2,293
43,425 42,791 27,495 15,251 14,689
-38,714 -38,573 -22,530 -13,403 -12,326
1,345 1,589 1,614 1,716 662
 1,328 1,489 1,569 1,666 -
17 100 45 50 -
-4,832 -4,559 -4,513 -2,961 -1,518
-4,969 -4,595 -4,300 -4,068 -3,800
- - - - -
- - - - -
- - - - -
- - - - -
-611 -255 -430 -166 576
1,972 -4,361 4,286 1,496 2,320
8,442 12,803 8,517 7,021 4,701
10,414 8,442 12,803 8,517 7,021
- - - - -
- - - - -

-1.0 12.4 -0.6 16.4 8.1

-5.1 5.2 -27.2 71.7 18.9
-5.1 5.2 -27.2 71.7 18.9
- - - - -
-0.3 1.4 35.4 16.7 0.7
-12.4 -26.8 -6.8 57.7 -9.4
2.5 -38.5 66.6 74.8 -
52.8 -58.4 59.9 -86.9 -131.8
- -1,957.1 -95.4 147.5 -
-583.7 55.5 65.9 -1,400.0 66.9
180.1 -22.4 -18.9 97.0 -35.9
-7.9 - -170.2 115.8 44.4
- - - - -
-7.9 - -170.2 115.8 44.4
- - - - -
- - - - -
13.7 42.9 -611.6 - 18.0
63.0 -351.8 42.7 -6.2 -75.6
- - - - -
- -206.7 -2.8 -118.9 -796.7
- -136.4 11.4 - -
- -569.1 -496.2 - -
- - - - -
- 25.8 24.1 1,985.0 -49.9
- -0.4 40.1 - -
- 289.5 -42.2 - -
77.0 -57.1 61.1 -737.0 60.5
- - - - -
 8.3 4.8 -31.8 -11.1 -1.3
-22.4 41.6 -24.6 28.8 -19.4
-62.0 -101.1 12.3 -120.8 -1,100.0
-11.9 -49.8 35.5 -51.1 42.5
1.5 55.6 80.3 3.8 238.7
-0.4 -71.2 -68.1 -8.7 -186.1
-15.4 -1.5 -5.9 159.2 13.0
-10.8 -5.1 -5.8 - -
-83.0 122.2 -10.0 - -
-6.0 -1.0 -52.4 -95.1 -40.7
-8.1 -6.9 -5.7 -7.1 -7.9
- - - - -
- - - - -
- - - - -
- - - - -
-139.6 40.7 -159.0 -128.8 -
- -201.7 186.5 -35.5 281.6
-34.1 50.3 21.3 49.4 14.9
23.4 -34.1 50.3 21.3 49.4
- - - - -
- - - - -
31 DEC '08 31 DEC '07 31 DEC '06
12M 12M 12M
10-K (26 Feb '09) 10-K (28 Feb '08) 10-K (21 Feb '07)

7,571 7,150 5,957

5,807 5,981 5,080
5,807 5,981 5,080
- - -
1,228 1,163 938
266 313 324
-360 109 -35
1,128 -452 124
-42 9 52
-130 -244 -303
209 166 159
153 99 233
- - -
153 99 233
- 0 0
- - -
-688 6 -615
-2,363 -6,719 -1,700
- - -
-240 -99 -82
- - -
- - -
- - -
479 448 640
- - -
- - -
-759 -5,653 -901
- - -
-1,968 -1,648 -1,407
129 239 112
-4 -6 -62
-3,985 973 -6,583
4,337 9,979 617
-4,308 -5,638 -2,021
586 1,619 148
- - -
- - -
-1,079 -1,838 -2,416
-3,521 -3,149 -2,911
- - -
- - -
- - -
- - -
-615 249 65
608 1,653 -2,261
4,093 2,440 4,701
4,701 4,093 2,440
- - -
- - -

5.9 20.0 -
-2.9 17.7 -
-2.9 17.7 -
- - -
5.6 24.0 -
-15.0 -3.4 -
-430.3 - -
- -464.5 -
-566.7 -82.7 -
46.7 19.5 -
25.9 4.4 -
54.5 -57.5 -
- - -
54.5 -57.5 -
- - -
- - -
-11,566.7 - -
64.8 -295.2 -
- - -
-142.4 -20.7 -
- - -
- - -
- - -
6.9 -30.0 -
- - -
- - -
86.6 -527.4 -
- - -
 -19.4 -17.1 -
-46.0 113.4 -
33.3 90.3 -
-509.6 - -
-56.5 1,517.3 -
23.6 -179.0 -
-63.8 993.9 -
- - -
- - -
41.3 23.9 -
-11.8 -8.2 -
- - -
- - -
- - -
- - -
-347.0 283.1 -
-63.2 - -
67.7 -48.1 -
14.9 67.7 -
- - -
- - -
Coca-Cola Company
KO 191216100 2206657 NYSE Common stock
Source: FactSet Fundamentals
DEC '19 DEC '18 DEC '17 DEC '16
365 Days 365 Days 365 Days 366 Days
Profitability (%)
Gross Margin 60.8 62.9 62.0 59.8
SG&A to Sales 32.6 32.5 35.8 37.1
Operating Margin 28.2 29.6 26.3 22.6
Pretax Margin 28.9 26.3 19.3 19.7
Net Margin 23.9 21.2 3.4 15.8
Free Cash Flow Margin 22.6 18.8 15.2 15.8
Return on Assets (%) 10.5 7.9 1.3 7.4
Return on Equity (%) 49.6 39.6 5.9 26.9
Return on Common Equity 49.6 39.6 5.9 26.9
Return on Total Capital 16.4 14.5 13.6 13.5
Return on Invested Capital 19.8 14.9 2.3 12.2
Cash Flow Return on Invested Capital 23.3 16.2 13.9 16.5
Valuation (x)
Price/Sales 6.4 6.4 5.7 4.4
Price/Earnings 26.8 31.6 159.0 27.7
Price/Book Value 12.5 11.9 11.4 7.7
Price/Tangible Book Value -30.4 -699.3 448.2 91.9
Price/Cash Flow 22.8 27.8 28.4 20.6
Price/Free Cash Flow 28.4 34.1 37.3 27.7
Dividend Yield (%) 2.9 3.3 3.2 3.4
Enterprise Value/EBIT 25.9 24.7 24.4 21.5
Enterprise Value/EBITDA 22.9 22.2 21.5 18.1
Enterprise Value/Sales 7.3 7.3 6.4 4.9
Total Debt/Enterprise Value 0.2 0.2 0.2 0.2
Per Share
Sales per Share 8.64 7.37 8.10 9.48
EBIT (Operating Income) per Share 2.43 2.18 2.13 2.14
EPS (recurring) 2.34 1.85 0.93 1.93
EPS (diluted) 2.07 1.50 0.29 1.49
Dividends per Share 1.60 1.56 1.48 1.40
Dividend Payout Ratio (%) 77.4 104.2 512.8 93.7
Book Value per Share 4.43 3.98 4.01 5.38
Tangible Book Value per Share -1.82 -0.07 0.10 0.45
Cash Flow per Share 2.43 1.70 1.62 2.01
Free Cash Flow per Share 1.95 1.39 1.23 1.50
Diluted Shares Outstanding 4,314.00 4,299.00 4,324.00 4,367.00
Basic Shares Outstanding 4,276.00 4,259.00 4,272.00 4,317.00
Total Shares Outstanding 4,280.00 4,268.00 4,259.00 4,288.00
Asset Turnover Analysis (x)
Cash & ST Investments 2.7 1.7 1.6 2.0
Receivables 10.1 9.0 9.3 10.6
Inventories 4.8 4.3 5.0 6.0
Current Assets 1.5 0.9 1.0 1.2
Fixed Assets 3.6 3.9 3.7 3.6
Total Assets 0.4 0.4 0.4 0.5
DuPont Analysis
Asset Turnover (x) 0.4 0.4 0.4 0.5
x Pretax Margin (%) 28.9 26.3 19.3 19.7
= Pretax Return on Assets (%) 12.7 9.8 7.7 9.2
x Tax Rate Complement (1-Tax Rate) 83.3 80.6 17.5 80.5
= Return on Assets (%) 10.5 7.9 1.3 7.4
x Equity Multiplier (Assets/Equity) 4.7 5.0 4.4 3.6
= Return on Equity (%) 49.6 39.6 5.9 26.9
x Earnings Retention (1-Payout) 22.6 -4.2 -412.8 6.3
= Reinvestment Rate (%) 11.5 0.5 -25.6 2.0
Note: EBIT Return on Assets (%) 12.4 11.0 10.5 10.6
Note: Interest as % Assets 1.0 1.1 0.9 0.8
Operating Efficiency (x)
Revenue/Employee (actual) 432,401 506,342 566,702 412,552
Net Income/Employee (actual) 103,480 107,572 19,110 65,075
Assets/Employee (actual) 1,002,100 1,329,329 1,422,265 870,090
Receivables Turnover (x) 10.1 9.0 9.3 10.6
Inventory Turnover (x) 4.8 4.3 5.0 6.0
Payables Turnover (x) 4.8 5.0 5.3 6.0
Asset Turnover (x) 0.4 0.4 0.4 0.5
Working Capital Turnover (x) - 22.5 3.7 5.5
Operating Cycle (Days)
Days of Inventory on Hand 76.8 84.1 73.1 61.2
+ Days of Sales Outstanding 36.1 40.7 39.2 34.4
= Operating Cycle 112.8 124.8 112.3 95.6
- Days of Payables Outstanding 75.6 73.6 68.3 61.0
= Net Operating Cycle 37.3 51.2 44.0 34.7
Liquidity (%)
Current Ratio 0.8 1.0 1.3 1.3
Quick Ratio 0.6 1.0 1.2 1.2
Cash Ratio 0.4 0.5 0.8 0.8
Cash & ST Inv/Current Assets (%) 54.7 52.1 56.6 65.3
CFO/Current Liabilities (%) 38.8 25.0 25.7 33.2
Coverage (x)
Net Debt/EBITDA 2.8 2.6 2.6 2.1
Net Debt/(EBITDA-Capex) 3.4 3.0 3.1 2.6
Total Debt/EBITDA 3.6 4.2 4.6 4.1
EBIT/Interest Expense (Int. Coverage) 11.7 10.6 12.1 13.6
EBITDA/Interest Expense 13.3 11.8 13.9 16.3
Fixed-charge Coverage Ratio 11.7 10.6 12.1 13.6
CFO/Interest Expense 11.7 8.3 9.3 12.9
Cash Dividend Coverage Ratio 1.5 1.3 0.5 1.5
LT Debt/EBITDA 2.4 2.4 3.0 2.7
Net Debt/FFO 3.3 3.2 7.8 2.6
LT Debt/FFO 2.8 3.0 9.0 3.3
FCF/Total Debt 0.2 0.1 0.1 0.1
CFO/Total Debt 0.2 0.2 0.1 0.2
Leverage (%)
LT Debt/Total Equity 150.8 149.4 182.6 128.7
LT Debt/Total Capital 45.3 41.9 48.2 43.2
LT Debt/Total Assets 33.1 30.5 35.5 34.0
Total Debt/Total Assets 51.1 52.3 54.3 52.4
Net Debt/Total Equity 173.8 162.5 158.2 101.9
Total Debt/Equity 232.6 256.5 279.3 198.2
Net Debt/Total Capital 52.2 45.6 41.7 34.2
Total Debt/Total Capital 69.9 71.9 73.6 66.5
All figures in millions of U.S. Dollar except per share and labeled items.
DEC '15 DEC '14 DEC '13 DEC '12 DEC '11 DEC '10 DEC '09 DEC '08 DEC '07
365 Days 365 Days 365 Days 366 Days 365 Days 365 Days 365 Days 366 Days 365 Days

60.2 60.9 60.7 60.5 61.0 63.5 64.1 64.1 63.7

37.5 37.3 37.1 36.9 37.2 37.4 36.5 36.7 37.7
22.3 23.5 23.5 23.6 23.8 26.2 27.7 27.4 25.9
22.0 20.3 24.5 24.5 24.4 40.4 28.7 23.2 27.1
16.8 15.4 18.4 18.7 18.3 33.5 21.9 18.1 20.6
18.2 17.8 17.1 16.3 14.0 20.7 19.8 17.5 19.0
8.1 7.8 9.7 10.9 11.2 19.4 15.3 13.9 16.3
26.3 22.4 26.0 28.0 27.4 42.3 30.1 27.5 30.9
26.3 22.4 26.0 28.0 27.4 42.3 30.1 27.5 30.9
13.7 15.1 16.1 18.0 19.4 20.1 25.8 28.9 28.6
14.2 14.0 17.2 19.4 19.0 31.5 25.7 24.1 27.7
20.4 20.9 21.1 22.9 21.0 25.5 30.8 31.4 33.1

4.3 4.1 4.0 3.5 3.5 4.3 4.3 3.3 4.9

25.7 26.5 21.7 18.4 19.0 13.0 19.5 18.2 23.9
7.3 6.1 5.5 4.9 5.0 4.9 5.3 5.1 6.5
130.6 46.7 32.7 29.7 39.9 36.8 11.0 13.1 14.9
18.0 17.7 17.7 15.6 17.2 16.1 16.2 14.0 20.0
23.7 22.9 23.3 21.1 24.8 21.0 21.4 18.9 26.0
3.1 2.9 2.7 2.8 2.7 2.7 2.9 3.4 2.2
21.6 19.0 18.1 15.7 15.5 17.7 15.6 12.4 19.6
17.9 16.0 15.3 13.4 13.2 15.3 13.6 10.9 17.0
4.8 4.4 4.3 3.7 3.7 4.6 4.3 3.4 5.1
0.2 0.2 0.2 0.2 0.2 0.1 0.1 0.1 0.1

9.92 10.34 10.37 10.50 10.09 7.56 6.70 6.87 6.22

2.21 2.42 2.44 2.48 2.40 1.98 1.85 1.88 1.61
1.90 1.92 1.93 2.03 1.91 1.89 1.50 1.31 1.32
1.67 1.60 1.90 1.97 1.85 2.53 1.47 1.25 1.29
1.32 1.22 1.12 1.02 0.94 0.88 0.82 0.76 0.68
79.1 76.5 58.9 51.8 50.9 34.8 56.0 61.0 52.9
5.91 6.94 7.54 7.34 6.99 6.76 5.38 4.43 4.69
0.33 0.90 1.26 1.22 0.88 0.89 2.60 1.72 2.05
2.39 2.39 2.34 2.32 2.04 2.04 1.76 1.62 1.53
1.81 1.84 1.77 1.72 1.41 1.57 1.33 1.20 1.18
4,405.00 4,450.00 4,509.00 4,584.00 4,646.00 4,666.00 4,658.00 4,672.00 4,662.00
4,352.00 4,387.00 4,434.00 4,504.00 4,568.00 4,616.00 4,628.00 4,630.00 4,626.00
4,324.00 4,366.00 4,402.00 4,469.00 4,526.00 4,584.00 4,606.00 4,624.00 4,636.00

2.1 2.2 2.5 3.1 3.7 3.4 4.4 6.9 8.4

10.4 9.9 9.7 9.9 10.0 8.6 9.1 10.0 9.8
5.8 5.6 5.6 6.0 6.4 5.1 4.9 5.2 5.5
1.3 1.4 1.5 1.7 2.0 1.8 2.1 2.6 2.8
3.2 3.1 3.2 3.3 3.2 2.9 3.5 3.8 3.8
0.5 0.5 0.5 0.6 0.6 0.6 0.7 0.8 0.8

0.5 0.5 0.5 0.6 0.6 0.6 0.7 0.8 0.8

22.0 20.3 24.5 24.5 24.4 40.4 28.7 23.2 27.1
10.5 10.2 13.0 14.2 15.0 23.4 20.1 17.8 21.5
76.7 76.4 75.2 76.9 75.5 83.3 77.2 78.1 76.0
8.1 7.8 9.7 10.9 11.2 19.4 15.3 13.9 16.3
3.3 2.9 2.7 2.6 2.4 2.2 2.0 2.0 1.9
26.3 22.4 26.0 28.0 27.4 42.3 30.1 27.5 30.9
20.9 23.5 41.1 48.2 49.1 65.2 44.0 39.0 47.1
5.8 5.5 11.0 13.7 13.6 27.7 13.4 10.8 14.6
10.7 11.9 12.5 13.7 14.6 15.2 19.4 21.0 20.5
0.9 0.6 0.5 0.5 0.5 0.8 0.7 1.1 1.1

354,708 356,060 358,063 319,085 320,492 252,686 336,401 347,468 320,530

59,667 54,938 65,727 59,768 58,632 84,592 73,534 62,846 66,088
731,274 712,252 689,548 571,067 547,018 522,357 524,472 438,517 478,110
10.4 9.9 9.7 9.9 10.0 8.6 9.1 10.0 9.8
5.8 5.6 5.6 6.0 6.4 5.1 4.9 5.2 5.5
7.0 8.9 9.4 9.3 9.2 8.0 8.2 8.4 9.6
0.5 0.5 0.5 0.6 0.6 0.6 0.7 0.8 0.8
6.8 75.2 13.4 19.2 38.6 11.5 8.2 - -

63.0 64.7 64.9 61.0 57.4 71.0 74.0 69.7 66.8

35.1 37.0 37.6 36.7 36.4 42.4 40.0 36.4 37.1
98.1 101.7 102.5 97.7 93.8 113.4 114.0 106.1 104.0
51.8 41.2 38.7 39.4 39.6 45.7 44.6 43.6 37.9
46.2 60.5 63.8 58.3 54.2 67.6 69.4 62.5 66.1

1.2 1.0 1.1 1.1 1.0 1.2 1.3 0.9 0.9

1.1 0.9 1.0 1.0 0.9 1.0 1.1 0.8 0.7
0.7 0.7 0.7 0.6 0.6 0.6 0.7 0.4 0.3
59.6 65.7 64.7 54.6 55.0 52.5 52.5 40.9 35.6
39.1 32.8 37.9 38.3 39.0 51.5 59.7 58.3 54.1
 2.1 1.6 1.3 1.2 1.1 1.1 0.3 0.4 0.6
2.7 1.9 1.6 1.5 1.4 1.4 0.3 0.5 0.7
3.8 3.3 2.9 2.4 2.2 2.2 1.2 0.9 1.1
11.6 21.0 25.0 26.3 26.9 15.0 24.5 19.4 16.1
13.9 24.9 29.5 30.9 31.7 17.4 28.3 22.5 19.0
11.6 21.0 25.0 26.3 26.9 15.0 24.5 19.4 16.1
12.5 20.7 24.0 24.6 22.9 15.5 23.5 17.0 15.7
1.9 2.1 2.3 2.6 2.6 2.3 2.3 2.3 2.3
2.4 1.5 1.5 1.1 1.0 1.3 0.5 0.3 0.4
2.3 1.8 1.5 1.4 1.3 1.3 0.3 0.5 0.7
2.7 1.7 1.7 1.3 1.2 1.5 0.6 0.3 0.5
0.2 0.2 0.2 0.2 0.2 0.3 0.5 0.6 0.6
0.2 0.3 0.3 0.3 0.3 0.4 0.7 0.8 0.8

111.2 62.9 57.7 44.9 43.2 45.3 20.4 13.6 15.1

40.7 26.5 27.3 22.5 22.7 25.8 13.8 9.3 10.5
31.5 20.7 21.3 17.1 17.1 19.3 10.4 6.9 7.6
49.1 45.4 41.2 37.8 35.7 32.1 24.4 23.0 21.6
95.1 66.2 50.7 49.0 45.9 39.0 10.7 21.2 23.1
173.0 137.7 111.8 99.5 90.3 75.5 47.8 45.5 42.9
34.8 27.8 23.9 24.6 24.1 22.2 7.2 14.5 16.2
63.4 57.9 52.8 49.9 47.5 43.0 32.4 31.3 30.0
DEC '06 DEC '05 DEC '04 DEC '03 DEC '02 DEC '01 DEC '00
365 Days 365 Days 366 Days 365 Days 365 Days 365 Days 366 Days

65.8 64.0 65.2 62.9 63.7 69.9 69.7

38.9 37.6 37.4 35.6 35.8 43.3 44.6
26.8 26.3 27.8 27.2 27.9 26.6 31.6
27.2 28.8 28.3 26.1 26.1 28.2 16.6
21.0 21.0 22.1 20.7 17.5 19.8 10.6
18.8 23.8 23.7 22.1 19.9 16.6 13.9
17.1 16.0 16.5 16.8 14.6 18.4 10.3
30.5 30.2 32.3 33.6 29.5 38.5 23.1
30.5 30.2 32.3 33.6 29.5 38.5 23.1
29.8 27.1 28.6 31.3 32.4 34.0 42.1
28.4 28.2 28.8 27.9 25.2 35.0 21.2
33.3 37.1 35.4 35.1 35.0 36.2 34.9

4.7 4.2 4.6 5.9 5.6 5.8 7.4

22.3 19.8 20.8 28.7 31.8 29.5 69.2
6.6 5.8 6.3 8.8 9.2 10.3 16.3
9.5 7.6 8.3 12.3 13.1 13.3 20.5
19.0 15.0 16.9 22.9 23.0 28.5 42.3
24.9 17.5 19.4 26.9 28.0 35.1 53.1
2.6 2.8 2.4 1.7 1.8 1.5 1.1
17.5 15.7 16.5 22.0 20.4 22.5 24.0
15.3 13.7 14.4 19.1 17.8 19.6 21.5
4.7 4.1 4.6 6.0 5.7 6.0 7.6
0.0 0.1 0.1 0.0 0.0 0.0 0.0

5.15 4.86 4.52 4.27 3.94 4.04 4.11

1.38 1.28 1.26 1.16 1.10 1.08 1.30
1.11 1.02 1.06 0.96 0.71 0.79 0.62
1.08 1.02 1.00 0.89 0.69 0.80 0.44
0.62 0.56 0.50 0.44 0.40 0.36 0.34
57.4 54.9 50.0 49.7 58.0 45.0 77.3
3.65 3.45 3.31 2.89 2.39 2.29 1.87
2.54 2.65 2.51 2.07 1.67 1.77 1.49
1.27 1.34 1.23 1.11 0.95 0.83 0.72
0.97 1.15 1.07 0.94 0.78 0.67 0.57
4,700.00 4,786.00 4,858.00 4,924.00 4,966.00 4,974.00 4,974.00
 4,696.00 4,784.00 4,852.00 4,918.00 4,956.00 4,974.00 4,954.00
4,636.00 4,738.00 4,818.68 4,883.06 4,941.96 4,972.45 4,969.52

6.6 4.0 4.3 7.2 9.1 10.5 11.0

10.0 10.4 10.3 10.0 9.8 7.2 7.5
5.4 5.9 5.7 6.1 6.0 5.7 5.8
2.6 2.1 2.1 2.7 2.7 2.9 3.1
3.8 3.9 3.6 3.5 3.8 4.7 4.9
0.8 0.8 0.7 0.8 0.8 0.9 1.0

0.8 0.8 0.7 0.8 0.8 0.9 1.0

27.2 28.8 28.3 26.1 26.1 28.2 16.6
22.2 22.0 21.2 21.2 21.8 26.2 16.0
77.2 72.8 77.9 79.1 70.2 70.2 64.0
17.1 16.0 16.5 16.8 14.6 18.4 10.3
1.8 1.9 2.0 2.0 2.0 2.1 2.3
30.5 30.2 32.3 33.6 29.5 38.5 23.1
42.6 45.1 50.0 50.3 42.0 55.0 22.7
13.0 13.6 16.1 16.8 12.3 21.2 5.2
21.9 20.2 20.8 22.1 23.3 24.7 30.4
0.7 0.8 0.6 0.7 0.8 1.3 2.1

341,183 422,509 439,240 429,469 349,357 528,737 554,417

71,549 88,582 96,940 88,714 61,018 104,711 58,997
422,014 535,036 626,540 558,000 437,518 589,921 564,607
10.0 10.4 10.3 10.0 9.8 7.2 7.5
5.4 5.9 5.7 6.1 6.0 5.7 5.8
5.2 3.7 3.7 3.9 7.0 5.5 2.9
0.8 0.8 0.7 0.8 0.8 0.9 1.0
- 56.1 19.6 41.3 1,778.5 - -

67.4 62.0 63.8 59.5 60.3 64.0 63.0

36.7 35.0 35.4 36.3 37.1 50.4 48.7
104.1 96.9 99.3 95.8 97.5 114.4 111.7
69.5 99.2 99.4 94.3 51.8 66.8 125.7
34.6 -2.2 -0.1 1.5 45.6 47.6 -14.0

0.9 1.0 1.1 1.1 1.0 0.9 0.7

0.8 0.9 1.0 0.9 0.8 0.7 0.6
0.3 0.5 0.6 0.4 0.3 0.2 0.2
30.7 46.5 56.0 41.5 31.9 27.0 28.6
67.0 65.3 54.4 69.2 64.6 48.8 38.5
 0.3 0.1 0.1 0.3 0.5 0.5 0.5
0.3 0.2 0.1 0.3 0.6 0.6 0.6
0.6 0.8 1.0 0.8 0.9 0.8 0.8
28.2 25.2 31.0 32.2 27.4 18.5 14.4
33.8 29.4 35.7 37.0 31.5 21.3 16.2
28.2 25.2 31.0 32.2 27.4 18.5 14.4
27.1 26.8 30.4 30.7 23.8 14.2 8.0
2.3 2.2 2.7 2.6 2.6 2.6 2.6
0.2 0.2 0.2 0.4 0.4 0.2 0.1
0.3 0.2 0.1 0.3 0.6 0.7 0.8
0.2 0.2 0.2 0.4 0.5 0.3 0.2
1.0 1.0 0.7 0.9 0.7 0.7 0.5
1.3 1.1 0.8 1.0 0.9 0.8 0.6

7.8 7.1 7.3 17.9 22.9 10.7 9.0

6.1 5.2 5.0 12.9 15.7 7.4 5.6
4.4 3.9 3.7 9.2 11.0 5.4 4.0
15.3 19.4 22.9 19.8 21.9 22.8 27.1
11.8 5.7 2.6 13.8 25.5 28.0 40.3
27.1 34.9 45.0 38.5 45.4 45.0 60.7
9.3 4.2 1.8 9.9 17.6 19.3 25.1
21.3 25.8 31.1 27.8 31.2 31.0 37.8