Coca Cola 2006 Annual Report Download - page 109

Download and view the complete annual report

Please find page 109 of the 2006 Coca Cola annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 144

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144

THE COCA-COLA COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
NOTE 16: PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS (Continued)
Effective December 31, 2006, the Company adopted SFAS No. 158, which required the recognition in
pension obligations and AOCI of actuarial gains or losses, prior service costs or credits and transition assets or
obligations that had previously been deferred under the reporting requirements of SFAS No. 87, SFAS No. 106
and SFAS No. 132(R). The following table reflects the effects of the adoption of SFAS No. 158 on our
consolidated balance sheet as of December 31, 2006. SFAS No. 158 also impacted the reporting of equity
method investees as described in Note 3.
Before After
Application of Application of
December 31, 2006 (in millions) SFAS No. 158 Adjustments SFAS No. 158
Equity method investments $ 6,460 $ (150) $ 6,310
Other assets 2,776 (75) 2,701
Other intangible assets 1,699 (12) 1,687
Total assets 30,200 (237) 29,963
Other liabilities 2,039 192 2,231
Deferred income taxes 749 (141) 608
Total liabilities 12,992 51 13,043
Accumulated other comprehensive income (1,003) (288) (1,291)
Total shareowners’ equity 17,208 (288) 16,920
Total liabilities and shareowners’ equity 30,200 (237) 29,963
Amounts recognized in AOCI consist of the following (in millions, pretax):
Pension Benefits Other Benefits
December 31, 2006 2006
Net actuarial loss (gain) $ 267 $ 97
Prior service cost (credit) 37 (5)
$ 304 $ 92
Amounts in AOCI expected to be recognized as components of net periodic pension cost in 2007 are as
follows (in millions, pretax):
Pension Benefits Other Benefits
2007 2007
Net actuarial loss (gain) $ 20 $ 1
Prior service cost (credit) 6 —
$26 $ 1
Certain amounts in the prior years’ disclosure have been reclassified to conform to the current year
presentation.
107