Coca Cola 2010 Annual Report Download - page 77

plan assets in 2008. The Company contributed approximately $269 million to our pension plans during the year ended
December 31, 2009, compared to approximately $96 million during the year ended December 31, 2008.
Cash Flows from Investing Activities
Our cash flows provided by (used in) investing activities are summarized as follows (in millions):
Year Ended December 31, 2010 2009 2008
Purchases of short-term investments $ (4,579) $ (2,130) $ —
Proceeds from disposals of short-term investments 4,032 ——
Acquisitions and investments (2,511) (300) (759)
Purchases of other investments (132) (22) (240)
Proceeds from disposals of bottling companies and other
investments 972 240 479
Purchases of property, plant and equipment (2,215) (1,993) (1,968)
Proceeds from disposals of property, plant and equipment 134 104 129
Other investing activities (106) (48) (4)
Net cash provided by (used in) investing activities $ (4,405) $ (4,149) $ (2,363)
Short-term Investments
In 2010, purchases of short-term investments were $4,579 million, and proceeds from disposals of short-term
investments were $4,032 million. This activity resulted in a net cash outflow of $547 million during the year. In 2009,
purchases of short-term investments were $2,130 million. These short-term investments are time deposits that have
maturities of greater than three months but less than one year, and are classified in the line item short-term
investments in our consolidated balance sheets. The Company began investing in longer-term time deposits during the
fourth quarter of 2009 to match the maturities of short-term debt issued as part of our commercial paper program.
Refer to the heading ‘‘Cash Flows from Financing Activities,’’ below. These time deposits are classified in the line item
short-term investments in our consolidated balance sheets.
Acquisitions and Investments
In 2010, the Company’s acquisition and investment activities totaled $2,511 million, which was primarily related to our
acquisition of CCE’s North American business, DPS license agreements, our acquisition of OAO Nidan Juices
(‘‘Nidan’’), a Russian juice company, and our additional investment in Fresh Trading Ltd. (‘‘innocent’’). The Company
and the existing shareowners of innocent have a series of outstanding put and call options for the Company to
potentially acquire the remaining shares not already owned by the Company. The put and call options are exercisable in
stages between 2013 and 2014. Refer to the heading ‘‘Operations Review — Structural Changes, Acquired Brands and
New License Agreements,’’ and Note 2 of Notes to Consolidated Financial Statements for additional information
related to our acquisitions during the year.
In 2009, our Company’s acquisition and investment activities totaled $300 million. None of the acquisitions or
investments was individually significant. Included in these investment activities was the acquisition of a minority interest
in innocent. Refer to Note 2 of Notes to Consolidated Financial Statements for additional information related to our
acquisitions during the year.
In 2008, our Company’s acquisition and investment activities totaled $759 million, which included the acquisition of
brands and licenses in Denmark and Finland from Carlsberg Group Beverages for approximately $225 million. None of
the other acquisitions during 2008 was individually significant. Refer to Note 2 of Notes to Consolidated Financial
Statements.
Proceeds from Disposals of Bottling Companies and Other Investments
In 2010, proceeds from disposals of bottling companies and other investments were $972 million. These proceeds were
primarily related to the sale of our Norwegian and Swedish bottling operations to New CCE for approximately
$0.9 billion and the sale of 50 percent of our investment in Le˜ ao Junior for approximately $83 million. Refer to the
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