Coca Cola 2010 Annual Report Download - page 81
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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, 2010, we were contingently liable for guarantees of indebtedness owed by third parties of
approximately $683 million, of which approximately $336 million related to VIEs. These guarantees primarily are
related to third-party customers, bottlers, vendors and container manufacturing operations 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 significant amounts being paid by our Company under these
guarantees is not probable. As of December 31, 2010, 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 5 of Notes to Consolidated Financial Statements.
As of December 31, 2010, the Company had $4,850 million in lines of credit for general corporate purposes, including
commercial paper backup, of which $4,597 million was unused and available. While no amounts have been borrowed
against these lines of credit, certain portions have been limited due to outstanding letters of credit related to collateral
for claims incurred under our self-insurance programs and for certain operating activities. These backup lines of credit
expire at various times from 2011 through 2012. These credit facilities are subject to normal banking terms and
conditions. Some of the financial arrangements require compensating balances, none of which is presently significant to
our Company.
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