Coca Cola 2003 Annual Report Download - page 93

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
The Coca-Cola Company and Subsidiaries
NOTE 14: PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Continued)
targeted asset mix identified in the asset and liability study. Adjustments are made to the expected long-term
rate of return assumption when deemed necessary based upon revised expectations of future investment
performance of the overall capital markets. The expected long-term rate of return assumption used in
computing 2003 net periodic pension cost for the U.S. plans was 8.5 percent.
Contributions
We contributed $100 million to the primary qualified U.S. pension plan in January 2004, and we anticipate
contributing up to an additional $65 million to this plan later in 2004. We expect to contribute up to $55 million
to the U.S. postretirement benefit plan during 2004.
NOTE 15: INCOME TAXES
Income before income taxes and cumulative effect of accounting change consists of the following (in
millions):
Year Ended December 31, 2003 2002 2001
United States $ 2,029 $ 2,062 $ 2,430
International 3,466 3,437 3,240
$ 5,495 $ 5,499 $ 5,670
Income tax expense (benefit) consists of the following (in millions):
United State &
Year Ended December 31, States Local International Total
2003
Current $ 426 $ 84 $ 826 $ 1,336
Deferred (145) (11) (32) (188)
2002
Current $ 455 $ 55 $ 973 $ 1,483
Deferred 2 23 15 40
2001
Current $ 552 $ 102 $ 981 $ 1,635
Deferred 70 (15) 1 56
We made income tax payments of approximately $1,325 million, $1,508 million and $1,496 million in 2003,
2002 and 2001, respectively.
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