Coca Cola 2013 Annual Report Download - page 143

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• Charge of $190 million for Corporate due to impairment charges recorded on certain of the Company’s intangible assets.
Refer to Note 16 and Note 17.
• Benefit of $615 million for Corporate due to a gain the Company recognized on the deconsolidation of our Brazilian
bottling operations as a result of their combination with an independent bottling partner. Refer to Note 2 and Note 17.
• Benefit of $30 million for Corporate due to a gain recognized on the merger of four of the Company’s Japanese bottling
partners in which we held equity method investments prior to their merger. Refer to Note 16 and Note 17.
• Charge of $11 million for Pacific due to certain of the Company’s fixed assets. Refer to Note 7 and Note 17.
• Net benefit of $8 million for Bottling Investments due to the Company’s proportionate share of unusual or infrequent items
recorded by certain of our equity method investees. Refer to Note 17.
• Net tax benefit of $20 million related to amounts required to be recorded for changes to our uncertain tax positions,
including interest and penalties. Refer to Note 14.
The Company’s fourth quarter 2013 results were impacted by one additional shipping day compared to the fourth quarter of 2012.
Furthermore, the Company recorded the following transactions which impacted results:
• Charges of $50 million for Europe, $92 million for North America, $10 million for Pacific, $108 million for Bottling
Investments and $24 million for Corporate due to charges related to the Company’s productivity and reinvestment program
as well as other restructuring initiatives. Refer to Note 17 and Note 18.
• Charge of $5 million for Corporate due to impairment charges recorded on certain of the Company’s intangible assets.
Refer to Note 16 and Note 17.
• Charge of $11 million for Pacific due to charges associated with certain of the Company’s fixed assets. Refer to Note 7 and
Note 17.
• Net charge of $134 million for Bottling Investments due to the Company’s proportionate share of unusual or infrequent
items recorded by certain of our equity method investees. Refer to Note 17.
• Charge of $27 million for Corporate due to the early extinguishment of certain long-term debt. Refer to Note 10.
• Net tax benefit of $15 million related to amounts required to be recorded for changes to our uncertain tax positions,
including interest and penalties. Refer to Note 14.
The Company’s first quarter 2012 results were impacted by one less shipping day compared to the first quarter of 2011.
Furthermore, the Company recorded the following transactions which impacted results:
• Charges of $61 million for North America, $15 million for Bottling Investments and $3 million for Corporate due to the
Company’s productivity and reinvestment program as well as other restructuring initiatives. Refer to Note 17 and Note 18.
• Charge of $20 million for North America due to changes in the Company’s ready-to-drink tea strategy as a result of our
U.S. license agreement with Nestl´
e terminating at the end of 2012. Refer to Note 17.
• Charge of $6 million for North America due to costs associated with the Company detecting residues of carbendazim, a
fungicide that is not registered in the United States for use on citrus products, in orange juice imported from Brazil for
distribution in the United States. As a result, the Company began purchasing additional supplies of Florida orange juice at
a higher cost than Brazilian orange juice. Refer to Note 17.
• Charge of $3 million for Corporate due to changes in the structure of BPW, our 50/50 joint venture with Nestl´
e in the
ready-to-drink tea category. Refer to Note 17.
• Net benefit of $44 million for Bottling Investments due to the Company’s proportionate share of unusual or infrequent
items recorded by certain of our equity method investees. Refer to Note 17.
• Net tax benefit of $8 million associated with the reversal of a valuation allowance in one of the Company’s foreign
jurisdictions, partially offset by amounts required to be recorded for changes to our uncertain tax positions, including
interest and penalties. Refer to Note 14.
In the second quarter of 2012, the Company recorded the following transactions which impacted results:
• Charges of $48 million for North America, $16 million for Bottling Investments and $5 million for Corporate due to the
Company’s productivity and reinvestment program as well as other restructuring initiatives. Refer to Note 17 and Note 18.
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