Coca Cola 2008 Annual Report Download - page 68
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The Company curtailed its share repurchase program during the fourth quarter of 2008. Additionally, as a
result of the pending acquisition of Huiyuan, the Company does not anticipate repurchasing shares during 2009.
Dividends
At its February 2009 meeting, our Board of Directors increased our quarterly dividend by 8 percent, raising
it to $0.41 per share, equivalent to a full year dividend of $1.64 per share in 2009. This is our 47th consecutive
annual increase. Our annual common stock dividend was $1.52 per share, $1.36 per share and $1.24 per share in
2008, 2007 and 2006, respectively. The 2008 dividend represented a 12 percent increase from 2007, and the 2007
dividend represented a 10 percent increase from 2006.
Off-Balance Sheet Arrangements and Aggregate Contractual Obligations
Off-Balance Sheet Arrangements
In accordance with the definition under SEC rules, the following qualify as off-balance sheet arrangements:
• any obligation under certain guarantee contracts;
• a retained or contingent interest in assets transferred to an unconsolidated entity or similar arrangement
that serves as credit, liquidity or market risk support to that entity for such assets;
• any obligation under certain derivative instruments; and
• any obligation arising out of a material variable interest held by the registrant in an unconsolidated entity
that provides financing, liquidity, market risk or credit risk support to the registrant, or engages in
leasing, hedging or research and development services with the registrant.
As of December 31, 2008, we were contingently liable for guarantees of indebtedness owed by third parties
in the amount of approximately $238 million. These guarantees primarily are related to third-party customers,
bottlers and vendors and have arisen through the normal course of business. These guarantees have various
terms, and none of these guarantees was individually significant. The amount represents the maximum potential
future payments that we could be required to make under the guarantees; however, we do not consider it
probable that we will be required to satisfy these guarantees. Management concluded that the likelihood of any
material amounts being paid by our Company under these guarantees is not probable. As of December 31, 2008,
we were not directly liable for the debt of any unconsolidated entity, and we did not have any retained or
contingent interest in assets as defined above.
Our Company recognizes all derivatives as either assets or liabilities at fair value in our consolidated
balance sheets. Refer to Note 11 of Notes to Consolidated Financial Statements.
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