Coca Cola 2015 Annual Report Download - page 107

If valued at the December 31, 2015 quoted closing prices of shares actively traded on stock markets, the value of our equity method investments in publicly
traded bottlers would have exceeded our carrying value by $7,225 million.
Net Receivables and Dividends from Equity Method Investees
Total net receivables due from equity method investees were $1,399 million and $1,448 million as of December 31, 2015 and 2014, respectively. The total
amount of dividends received from equity method investees was $367 million, $398 million and $401 million for the years ended December 31, 2015, 2014
and 2013, respectively. The amount of consolidated reinvested earnings that represents undistributed earnings of investments accounted for under the equity
method as of December 31, 2015 was $3,389 million.

The following table summarizes our property, plant and equipment (in millions):
December 31, 
2014
Land  
$ 972
Buildings and improvements 
5,541
Machinery, equipment and vehicle fleet 
18,745
 
$ 25,258
Less accumulated depreciation 
10,625
Property, plant and equipment — net  
$ 14,633

Indefinite-Lived Intangible Assets
The following table summarizes information related to indefinite-lived intangible assets (in millions):
December 31, 
2014
Trademarks1
 
$ 6,533
Bottlers' franchise rights2,3

6,689
Goodwill 
12,100
Other 
170
Indefinite-lived intangible assets  
$ 25,492
1 The decrease in 2015 was primarily due to the sale of our energy brands to Monster, an impairment charge recorded related to the discontinuation of the energy products in the
glacéau portfolio as a result of the Monster Transaction and the impairment of a Venezuelan trademark primarily due to changes in exchange rates as a result of the establishment
of the new open market exchange system. Refer to Note 2 for additional information on the Monster Transaction and Note 1 for additional information on the Venezuela currency
change.
2 The decrease in 2015 was primarily related to North America refranchising and the transfer of intangible assets to assets held for sale as a result of our entering into an agreement
to merge our German bottling operations to form CCEP. These decreases were partially offset by the acquisition of the Company's rights to distribute Monster products in
expanded territories as a result of the Monster Transaction. The carrying value of these rights as of December 31, 2015 was $640 million. These distribution rights are governed
by an agreement with an initial term of 20 years, after which it will continue to remain in effect unless otherwise terminated by either party and there are no future costs of renewal.
The Company anticipates that these assets will be used indefinitely. Refer to Note 2 for additional information.
3 The Company has agreements with Dr Pepper Snapple Group, Inc. ("DPSG") to distribute Dr Pepper trademark brands in the United States, Canada Dry in the Northeastern
United States, and Canada Dry and C' Plus in Canada. As of December 31, 2015, the agreements have remaining terms of 15 years, with automatic 20-year renewal periods unless
otherwise terminated under the terms of the agreements and there are no significant costs to renew the agreements. The Company anticipates that these assets will be used
indefinitely. The carrying values of these rights as of December 31, 2015 and 2014, were $652 million and $784 million, respectively. The decrease is related to North America
refranchising. Refer to Note 2 for additional information.
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