Coca Cola 2008 Annual Report Download - page 147

In the third quarter of 2008, the Company recorded the following transactions which impacted results:
• Charges of approximately $1 million for Latin America, $6 million for North America, $12 million for
Bottling Investments and $28 million for Corporate, as a result of restructuring costs and productivity
initiatives. Refer to Note 18 and Note 19.
• Equity income (loss)—net was reduced by approximately a net $3 million for Bottling Investments,
primarily due to our proportionate share of restructuring charges recorded by our equity method
investees. Refer to Note 19.
• Other income (loss)—net was increased by approximately $16 million for Corporate due to the sale of
49 percent of our interest in Coca-Cola Pakistan to Coca-Cola Icecek. Refer to Note 19.
• A net tax charge of approximately $5 million related to amounts required to be recorded for changes to
our uncertain tax positions under Interpretation No. 48, including interest and penalties. Refer to
Note 17.
The Company’s fourth quarter of 2008 results were impacted by two additional shipping days as compared
to the fourth quarter of 2007. Additionally, the Company recorded the following transactions which impacted
results:
• Charges of approximately $1 million for Eurasia and Africa, $44 million for North America, $21 million
for Bottling Investments and $42 million for Corporate, primarily as a result of restructuring costs,
productivity initiatives, asset impairments and contract termination fees. Refer to Note 18 and Note 19.
• Equity income (loss)—net was reduced by approximately $19 million for Europe, $8 million for North
America and $529 million for Bottling Investments, primarily attributable to our proportionate share of
asset impairment charges recorded by equity method investees. Refer to Note 19.
• Other income (loss)—net was reduced by approximately $2 million for North America, $30 million for
Bottling Investments and $52 million for Corporate, primarily due to other-than-temporary impairments
of available-for-sale securities.
• An approximate $10 million tax expense related to valuation allowances recorded on deferred tax assets.
Refer to Note 17.
• A net tax benefit of approximately $41 million related to amounts required to be recorded for changes to
our uncertain tax positions under Interpretation No. 48, including interest and penalties. Refer to
Note 17.
In the first quarter of 2007, the Company recorded the following transactions which impacted results:
• Approximately $10 million of charges primarily related to restructuring and asset write-downs in Eurasia
and Africa, Bottling Investments and Corporate. Refer to Note 18 and Note 19.
• An approximate $73 million charge to equity income—net primarily related to our proportionate share of
asset write-downs by CCBPI. Refer to Note 19.
• An approximate $137 million net gain primarily due to the sale of real estate in Spain and the sale of
substantially all of our ownership interest in Vonpar. Refer to Note 19.
• Approximately $73 million of tax expense related to the gains on the sale of our ownership interest in
Vonpar and the sale of real estate in Spain, as mentioned above. Refer to Note 17.
• An approximate $11 million tax expense related to amounts required to be recorded for changes to our
uncertain tax positions under Interpretation No. 48, including interest and penalties. Refer to Note 17.
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