Coca Cola 2004 Annual Report Download - page 4

was reclassified from the Europe, Eurasia and Middle East operating segment to the Africa operating segment.
During 2004, certain departments were reclassified from the North America operating segment to the Corporate
operating segment.
At the date of this report, the heads of the strategic business units are as follows: Donald R. Knauss (North
America), Alexander B. Cummings, Jr. (Africa), Mary E. Minnick (Asia), A.R.C. ‘‘Sandy’’ Allan (Europe,
Eurasia and Middle East) and Jos´ e Octavio Reyes (Latin America). See ‘‘Item X.—Executive Officers of the
Company.’’ The heads of the strategic business units report to E. Neville Isdell, 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, 2004, 2003 and 2002, by operating segment,
is as follows (in millions, except percentages):
North Europe, Eurasia Latin
America Africa Asia and Middle East America Corporate Consolidated
Net operating revenues
2004 $ 6,643 $ 1,067 $ 4,691 $ 7,195 $ 2,123 $ 243 $ 21,962
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
Operating income
2004 $ 1,606 $ 340 $ 1,758 $ 1,898 $ 1,069 $ (973) $ 5,698
2003 1,282 249 1,690 1,908 970 (878) 5,221
2002 1,531 224 1,820 1,612 1,033 (762) 5,458
Income before income taxes and
cumulative effect of accounting change
2004 $ 1,629 $ 337 $ 1,841 $ 1,916 $ 1,270 $ (771) $ 6,222
2003 1,326 249 1,740 1,921 975 (716) 5,495
2002 1,552 187 1,848 1,540 1,081 (709) 5,499
Unit case volume growth rate (2004
vs. 2003) 0% 3% 5% 0% 3% — 2%
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 and (depending on the product) sweeteners used to prepare
beverage syrups or finished beverages;
• ‘‘syrups’’ means the beverage ingredients produced by combining concentrate and (depending on the
product) sweetener and added water;
2