Coca Cola 2011 Annual Report Download - page 143

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• Income (loss) before income taxes was reduced by $23 million for Bottling Investments and $25 million for Corporate due
to other-than-temporary impairments and a donation of preferred shares in one of our equity method investees. Refer to
Note 17.
• Income (loss) before income taxes was increased by $4,978 million for Corporate due to the remeasurement of our equity
investment in CCE to fair value upon the close of the transaction. Refer to Note 2.
• Income (loss) before income taxes was increased by $597 million for Corporate due to the gain on the sale of our
Norwegian and Swedish bottling operations to New CCE. Refer to Note 2.
• Income (loss) before income taxes was reduced by $342 million for Corporate related to the premiums paid to repurchase
the long-term debt and the costs associated with the settlement of treasury rate locks issued in connection with the debt
tender offer. Refer to Note 10.
• Income (loss) before income taxes was reduced by $265 million for Corporate due to charges related to preexisting
relationships with CCE. These charges primarily related to the write-off of our investment in infrastructure programs with
CCE. Refer to Note 2.
• Income (loss) before income taxes was reduced by $103 million for Corporate due to the remeasurement of our
Venezuelan subsidiary’s net assets. Refer to Note 1.
• Income (loss) before income taxes was increased by $23 million for Corporate due to the gain on the sale of 50 percent of
our investment in Le˜
ao Junior. Refer to Note 17.
In 2009, the results of our operating segments were impacted by the following items:
• Operating income (loss) and income (loss) before income taxes were reduced by $4 million for Eurasia and Africa,
$7 million for Europe, $31 million for North America, $1 million for Pacific, $141 million for Bottling Investments and
$129 million for Corporate, primarily as a result of the Company’s ongoing productivity, integration and restructuring
initiatives and asset impairments. Refer to Note 17.
• Equity income (loss) — net and income (loss) before income taxes were reduced by $84 million for Bottling Investments
and $2 million for Corporate, primarily attributable to the Company’s proportionate share of asset impairment and
restructuring charges recorded by certain of our equity method investees. Refer to Note 17.
• Income (loss) before income taxes was increased by $44 million for Corporate due to realized gains on the sale of equity
securities that were classified as available-for-sale. In 2008, the Company recognized an other-than-temporary impairment
related to these securities. Refer to Note 17.
• Income (loss) before income taxes was reduced by $27 million for Corporate due to an other-than-temporary impairment of
a cost method investment. Refer to Note 17.
NOTE 20: NET CHANGE IN OPERATING ASSETS AND LIABILITIES
Net cash provided by (used in) operating activities attributable to the net change in operating assets and liabilities is composed of
the following (in millions):
Year Ended December 31, 2011 2010 2009
(Increase) decrease in trade accounts receivable $ (562) $ (41) $ (404)
(Increase) decrease in inventories (447) 182 (50)
(Increase) decrease in prepaid expenses and other assets (350) (148) (332)
Increase (decrease) in accounts payable and accrued expenses 63 656 319
Increase (decrease) in accrued taxes (132) (266) 81
Increase (decrease) in other liabilities (465) (13) (178)
Net change in operating assets and liabilities $ (1,893) $ 370 $ (564)
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