Coca Cola 2008 Annual Report Download - page 90
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THE COCA-COLA COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
NOTE 3: BOTTLING INVESTMENTS
Coca-Cola Enterprises Inc.
CCE is a marketer, producer and distributor of bottle and can nonalcoholic beverages, operating in eight
countries. As of December 31, 2008, our Company owned approximately 35 percent of the outstanding common
stock of CCE. We account for our investment by the equity method of accounting and, therefore, our net income
includes our proportionate share of CCE’s net income or loss.
A summary of financial information for CCE is as follows (in millions):
Year Ended December 31, 2008 2007 2006
Net operating revenues $ 21,807 $ 20,936 $ 19,804
Cost of goods sold 13,763 12,955 12,067
Gross profit $ 8,044 $ 7,981 $ 7,737
Operating income (loss) $ (6,299) $ 1,470 $ (1,495)
Net income (loss) $ (4,394) $ 711 $ (1,143)
December 31, 2008 2007
Current assets $ 4,583 $ 4,032
Noncurrent assets 11,006 20,067
Total assets $ 15,589 $ 24,099
Current liabilities $ 5,074 $ 5,396
Noncurrent liabilities 10,546 13,014
Total liabilities $ 15,620 $ 18,410
Shareowners’ (deficit) equity $ (31) $ 5,689
Company equity investment $—$ 1,637
A summary of our significant transactions with CCE is as follows (in millions):
Year Ended December 31, 2008 2007 2006
Concentrate, syrup and finished product sales to CCE $ 6,431 $ 5,948 $ 5,378
Syrup and finished product purchases from CCE 344 410 415
CCE purchases of sweeteners through our Company 357 326 274
Marketing payments made by us directly to CCE 626 636 514
Marketing payments made to third parties on behalf of CCE 131 123 113
Local media and marketing program reimbursements from CCE 316 299 279
Payments made to CCE for dispensing equipment repair services 84 78 74
Other payments — net 75 102 99
Syrup and finished product purchases from CCE represent purchases of fountain syrup in certain territories
that have been resold by our Company to major customers and purchases of bottle and can products. Marketing
payments made by us directly to CCE represent support of certain marketing activities and our participation
with CCE in cooperative advertising and other marketing activities to promote the sale of Company trademark
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