Coca Cola 2015 Annual Report Download - page 150
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In the third quarter of 2015, the Company recorded the following transactions which impacted results:
• Charge of $794 million due to the refranchising of certain territories in North America. Refer to Note 2 and Note 17.
• Charges of $216 million due to the Company's productivity and reinvestment program as well as other restructuring initiatives. Refer to Note 17 and
Note 18.
• Charge of $38 million related to an impairment on a trademark in the glacéau portfolio, primarily as a result of foreign currency exchange rate
fluctuations that impacted the fair value of the asset. Refer to Note 2 and Note 17.
• Charge of $3 million related to an impairment charge on a Venezuelan trademark. Refer to Note 1.
The Company's fourth quarter 2015 results were impacted by six fewer shipping days compared to the fourth quarter of 2014. Furthermore, the Company
recorded the following transactions which impacted results:
• Charges of $456 million due to the Company's productivity and reinvestment program as well as other restructuring initiatives. Refer to Note 17 and
Note 18.
• Charge of $179 million due to the refranchising of certain territories in North America. Refer to Note 2 and Note 17.
• Benefit of $1 million as a result of the Monster Transaction. Refer to Note 2 and Note 17.
The Company's first quarter 2014 results were impacted by one less shipping day compared to the first quarter of 2013. Furthermore, the Company recorded
the following transactions which impacted results:
• Charges of $247 million due to the devaluation of the Venezuelan bolivar, including our proportionate share of the charge incurred by an equity
method investee that has operations in Venezuela. Refer to Note 1 and Note 17.
• Charges of $128 million due to the Company's productivity and reinvestment program as well as other restructuring initiatives. Refer to Note 17 and
Note 18.
In the second quarter of 2014, the Company recorded the following transactions which impacted results:
• Charges of $155 million due to the Company's productivity and reinvestment program as well as other restructuring initiatives. Refer to Note 17 and
Note 18.
• Charge of $140 million due to the refranchising of certain territories in North America. Refer to Note 2 and Note 17.
• Charge of $21 million as a result of a write-down of receivables related to sales of concentrate to our bottling partner in Venezuela due to limited
government-approved exchange rate conversion mechanisms. Refer to Note 1 and Note 17.
In the third quarter of 2014, the Company recorded the following transactions which impacted results:
• Charge of $270 million due to the refranchising of certain territories in North America. Refer to Note 2 and Note 17.
• Charges of $118 million due to the Company's productivity and reinvestment program as well as other restructuring initiatives. Refer to Note 17 and
Note 18.
The Company's fourth quarter 2014 results were impacted by one additional shipping day compared to the fourth quarter of 2013. Furthermore, the Company
recorded the following transactions which impacted results:
• Charges of $408 million due to the Company's productivity and reinvestment program as well as other restructuring initiatives. Refer to Note 17 and
Note 18.
• Charge of $389 million due to the refranchising of certain territories in North America. Refer to Note 2 and Note 17.
• Charge of $275 million due to the write-down of concentrate sales receivables from our bottling partner in Venezuela. Refer to Note 1 and Note 17.
• Charge of $164 million due to the remeasurement of the net monetary assets of our local Venezuelan subsidiary into U.S. dollars using the SICAD 2
exchange rate, and for the impairment of a Venezuelan trademark. Refer to Note 1 and Note 17.
• Benefit of $46 million due to the elimination of intercompany profits resulting from a write-down the Company recorded on the concentrate sales
receivables from our bottling partner in Venezuela, an equity method investee. Refer to Note 1 and Note 17.
• Charge of $32 million as a result of a Brazilian bottling entity's majority interest owners exercising their option to acquire from us an additional
equity interest at an exercise price less than that of our carrying value. Refer to Note 17.
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