Coca Cola 2004 Annual Report Download - page 89
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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
The Coca-Cola Company and Subsidiaries
NOTE 9: FINANCIAL INSTRUMENTS (Continued)
On December 31, 2004 and 2003, these investments were included in the following captions (in millions):
Available- Held-to-
for-Sale Maturity
December 31, Securities Securities
2004
Cash and cash equivalents $ — $ 4,586
Current marketable securities 61 —
Cost method investments, principally bottling companies 229 —
Other assets 2—
$ 292 $ 4,586
Available- Held-to-
for-Sale Maturity
December 31, Securities Securities
2003
Cash and cash equivalents $ 118 $ 2,162
Current marketable securities 120 —
Cost method investments, principally bottling companies 185 —
Other assets 31
$ 426 $ 2,163
The contractual maturities of these investments as of December 31, 2004 were as follows (in millions):
Available-for-Sale Held-to-Maturity
Securities Securities
Fair Amortized Fair
Cost Value Cost Value
2005 $ — $ — $ 4,586 $ 4,586
2006-2009 — — — —
2010-2014 — — — —
After 2014 5 4 — —
Equity securities 144 288 — —
$ 149 $ 292 $ 4,586 $ 4,586
For the years ended December 31, 2004, 2003 and 2002, gross realized gains and losses on sales of
available-for-sale securities were not material. The cost of securities sold is based on the specific identification
method.
NOTE 10: HEDGING TRANSACTIONS AND DERIVATIVE FINANCIAL INSTRUMENTS
Our Company uses derivative financial instruments primarily to reduce our exposure to adverse fluctuations
in interest rates and foreign exchange rates and, to a lesser extent, in commodity prices and other market risks.
When entered into, the Company formally designates and documents the financial instrument as a hedge of a
specific underlying exposure, as well as the risk management objectives and strategies for undertaking the hedge
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