Coca Cola 2004 Annual Report Download - page 76
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
The Coca-Cola Company and Subsidiaries
NOTE 2: BOTTLING INVESTMENTS (Continued)
A summary of financial information for CCE is as follows (in millions):
December 31, 2004 2003
Current assets $ 3,264 $ 3,000
Noncurrent assets 23,090 22,700
Total assets $ 26,354 $ 25,700
Current liabilities $ 3,431 $ 3,941
Noncurrent liabilities 17,545 17,394
Total liabilities $ 20,976 $ 21,335
Shareowners’ equity $ 5,378 $ 4,365
Company equity investment $ 1,569 $ 1,260
Year Ended December 31, 2004 2003 2002
Net operating revenues $ 18,158 $ 17,330 $ 16,0581
Cost of goods sold 10,771 10,165 9,4581
Gross profit $ 7,387 $ 7,165 $ 6,6001
Operating income $ 1,436 $ 1,577 $ 1,364
Net income $ 596 $ 676 $ 494
Net income available to common shareowners $ 596 $ 674 $ 491
1These amounts reflect reclassifications related to the January 1, 2003 adoption of EITF Issue No.
02-16, ‘‘Accounting by a Customer (Including a Reseller) for Certain Consideration Received from a
Vendor.’’
A summary of our significant transactions with CCE is as follows (in millions):
2004 2003 2002
Concentrate, syrup and finished products sales to CCE $ 5,203 $ 5,084 $ 4,767
Syrup and finished product purchases from CCE 428 403 461
CCE purchases of sweeteners through our Company 309 311 325
Payments made by us directly to CCE 646 880 837
Payments made to third parties on behalf of CCE 104 115 204
Local media and marketing program reimbursements from CCE 246 221 264
Syrup and finished product purchases from CCE represent purchases of fountain syrup in certain territories
that have been resold by our Company to major customers and purchases of bottle and can products. Payments
made by us directly to CCE represent support of certain marketing activities and our participation with CCE in
cooperative advertising and other marketing activities to promote the sale of Company trademark products
within CCE territories. These programs are agreed to on an annual basis. Payments made to third parties on
behalf of CCE represent support of certain marketing activities and programs to promote the sale of Company
trademark products within CCE’s territories in conjunction with certain of CCE’s customers. Pursuant to
cooperative advertising and trade agreements with CCE, we received funds from CCE for local media and
marketing program expense reimbursements.
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