Coca Cola 2003 Annual Report Download - page 5

Company.’’ The heads of the strategic business units report to Steven J. Heyer, President and Chief Operating
Officer of the Company. Steven J. Heyer reports to Douglas N. Daft, Chairman of the Board of Directors and
Chief Executive Officer of the Company.
Except to the extent that differences between operating segments are material to an understanding of our
business taken as a whole, the description of our business in this report is presented on a consolidated basis.
In the following table, prior period amounts have been reclassified to conform to the current period
presentation. Unless we indicate otherwise, all references in this report to ‘‘$’’ mean U.S. dollars. Information
about our Company’s operations for the years ended December 31, 2003, 2002 and 2001, by operating segment,
is as follows (in millions, except percentages):
North Europe, Eurasia Latin
America Africa Asia & Middle East America Corporate Consolidated
Net operating revenues
2003 $ 6,344 $ 827 $ 5,052 $ 6,556 $ 2,042 $ 223 $ 21,044
2002 6,264 684 5,054 5,262 2,089 211 19,564
2001 5,729 633 4,861 3,961 2,181 180 17,545
Operating income
2003 1,198 249 1,690 1,908 970 (794) 5,221
2002 1,494 224 1,820 1,612 1,033 (725) 5,458
2001 1,480 276 1,763 1,461 1,094 (722) 5,352
Income before income taxes and
cumulative effect of accounting change
2003 1,242 249 1,740 1,921 975 (632) 5,495
2002 1,515 187 1,848 1,540 1,081 (672) 5,499
2001 1,472 262 1,808 1,413 1,279 (564) 5,670
Unit case volume growth rate (2003
vs. 2002) 2% 5% 4% 5% 4% — 4%
For additional financial information about our operating segments and geographic areas, refer to Notes 1
and 19 to the Consolidated Financial Statements set forth in Part II, Item 8 of this report, incorporated herein
by reference.
Our Company manufactures and sells beverage concentrates (sometimes referred to as beverage bases) and
syrups, including fountain syrups. We also manufacture and sell some finished beverages, both carbonated and
noncarbonated, including certain juice and juice-drink products and water products.
As used in this report:
• ‘‘concentrates’’ means flavoring ingredients used to prepare beverage syrups or finished beverages, not
including sweeteners;
• ‘‘syrups’’ means the beverage ingredients produced by combining concentrate, sweetener and
added water;
• ‘‘fountain syrups’’ means syrups that are sold to fountain retailers, such as restaurants, who use dispensing
equipment to mix the syrups with carbonated or noncarbonated water at the time of purchase to produce
finished beverages that are served to customers in cups or glasses for immediate consumption;
• ‘‘soft drinks’’ means nonalcoholic carbonated beverages containing flavorings and sweeteners, excluding,
among others, waters, flavored waters, juices and juice drinks, sports drinks, teas and coffees; and
• ‘‘noncarbonated beverages’’ means nonalcoholic noncarbonated beverages including, but not limited to,
waters, flavored waters, juices and juice drinks, sports drinks, teas and coffees.
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