Coca Cola 2007 Annual Report Download - page 134

In the third quarter of 2007, the Company recorded the following transactions which impacted results:
• Approximately $84 million of charges primarily related to restructuring activities and asset write-downs in
Africa, Eurasia, European Union, Latin America, North America, Bottling Investments and Corporate. Refer
to Note 18 and Note 19.
• An approximate $73 million net gain related to the sale of a portion of our ownership interest in Coca-Cola
Amatil. Refer to Note 3 and Note 19.
• An approximate $21 million increase to equity income—net primarily related to our proportionate share of
tax benefits recorded at CCE, partially offset by asset write-downs and restructuring costs recorded by
CCBPI. Refer to Note 3 and Note 19.
• An approximate $15 million tax expense related to amounts required to be recorded for changes to our
uncertain tax positions under Interpretation No. 48. Refer to Note 17.
• A tax charge of approximately $31 million primarily related to the gain on the sale of a portion of our
ownership interest in Coca-Cola Amatil, as mentioned above. Refer to Note 17.
• An approximate $19 million tax benefit related to tax rate changes in Germany. Refer to Note 17.
The Company’s fourth quarter of 2007 results were impacted by one additional shipping day as compared to the
fourth quarter of 2006. Additionally, the Company recorded the following transactions which impacted results:
• Approximately $126 million of charges primarily related to asset write-downs and restructuring activities in
Africa, Eurasia, the European Union, Latin America, North America, the Pacific, Bottling Investments and
Corporate. Refer to Note 18 and Note 19.
• An approximate $18 million gain related to the sale of real estate in the United States. Refer to Note 19.
• An approximate $9 million charge to equity income—net primarily due to our proportionate share of asset
write-downs and restructuring costs recorded at various equity method investees, offset by tax benefits
recorded by CCE. Refer to Note 3 and Note 19.
• An approximate $40 million tax expense related to amounts required to be recorded for changes to our
uncertain tax positions under Interpretation No. 48. Refer to Note 17.
• An income tax benefit of approximately $19 million primarily related to asset write-downs and restructuring
activities in Africa, Eurasia, the European Union, Latin America, North America, the Pacific, Bottling
Investments and Corporate. Refer to Note 17.
The Company’s first quarter of 2006 results were impacted by one less shipping day as compared to the first
quarter of 2005. Additionally, the Company recorded the following transactions which impacted results:
• Impairment charges totaling approximately $42 million primarily related to the impairment of certain assets
and investments in certain bottling operations in Asia. Refer to Note 19.
• Approximately $3 million of charges primarily related to restructuring in the Pacific. Refer to Note 19.
• An approximate $9 million charge to equity income for our proportionate share of CCE’s restructuring costs.
Refer to Note 3.
• An income tax benefit of approximately $7 million primarily related to asset impairment and restructuring
charges in Asia. Refer to Note 17.
• Approximately $10 million of income tax expense primarily related to increases in tax reserves. Refer to
Note 17.
In the second quarter of 2006, the Company recorded the following transactions which impacted results:
• An approximate $123 million net gain related to the sale of a portion of our investment in Coca-Cola Icecek
in an initial public offering. This gain was recorded in the line item other income (loss)—net. Refer to
Note 19.
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