Coca Cola 2015 Annual Report Download - page 65

Purchases of Investments and Proceeds from Disposals of Investments
In 2015, purchases of investments were $15,831 million and proceeds from disposals of investments were $14,079 million. This activity resulted in a net cash
outflow of $1,752 million during 2015. In 2014, purchases of investments were $17,800 million and proceeds from disposals of investments were $12,986
million, resulting in a net cash outflow of $4,814 million. In 2013, purchases of investments were $14,782 million and proceeds from disposals of
investments were $12,791 million, resulting in a net cash outflow of $1,991 million. These investments include time deposits that have maturities greater
than three months but less than one year and are classified in the line item short-term investments in our consolidated balance sheets. The purchases during
the years ended December 31, 2015 and 2014 include our investments in Keurig Green Mountain, Inc. ("Keurig") of $830 million and $1,567 million,
respectively, partially offset by the net purchases and proceeds of our short-term investments that were made as part of the Company's overall cash
management strategy. Refer to Note 2 of Notes to Consolidated Financial Statements for additional information on our investment in Keurig. In December
2015, Keurig announced that it had entered into an agreement with JAB Holding Company ("JAB") under which a JAB-led investor group will acquire
Keurig for $92 per share in cash. The transaction is expected to close in the first quarter of 2016, subject to customary closing conditions, including receipt of
regulatory approvals. Upon the sale of its shares, the Company will receive proceeds of approximately $2,380 million.
Acquisitions of Businesses, Equity Method Investments and Nonmarketable Securities
In 2015, the Company's acquisitions of businesses, equity method investments and nonmarketable securities totaled $2,491 million, which primarily
included our equity investments in Monster and in Indonesian bottling operations and the acquisition of a controlling interest in a South African bottling
operation.
In 2014, the Company's acquisitions of businesses, equity method investments and nonmarketable securities totaled $389 million, which primarily included
a joint investment with one of our bottling partners in a dairy company in Ecuador.
In 2013, our Company's acquisitions of businesses, equity method investments and nonmarketable securities totaled $353 million. These activities primarily
included our acquisition of the majority of the remaining outstanding shares of innocent and a majority interest in bottling operations in Myanmar.
Refer to Note 2 of Notes to Consolidated Financial Statements for additional information related to our acquisitions during the years ended December 31,
2015, 2014 and 2013.
Proceeds from Disposals of Businesses, Equity Method Investments and Nonmarketable Securities
In 2015, proceeds from disposals of businesses, equity method investments and nonmarketable securities were $565 million, which included cash received as
a result of a Brazilian bottling entity's majority interest owners exercising their option to acquire from us an additional equity interest. The proceeds from
disposals of businesses, equity method investments and nonmarketable securities during 2015 also included the proceeds from the sale of the Company's
distribution assets, certain working capital items, and the grant of exclusive rights to distribute certain beverage brands not owned by the Company, but
distributed by CCR, to certain unconsolidated bottling partners as part of the North America refranchising. Refer to Note 2 of Notes to Consolidated
Financial Statements for additional information.
In 2014, proceeds from disposals of businesses, equity method investments and nonmarketable securities were $148 million, which represented the proceeds
from the sale of the Company's distribution assets, certain working capital items, and the grant of exclusive rights to distribute certain beverage brands not
owned by the Company, but distributed by CCR, to certain unconsolidated bottling partners as part of the North America refranchising. Refer to Note 2 of
Notes to Consolidated Financial Statements for additional information.
In 2013, proceeds from disposals of businesses, equity method investments and nonmarketable securities were $872 million. These proceeds primarily related
to the sale of a majority ownership interest in our previously consolidated Philippine bottling operations, and separately, the deconsolidation of our
Brazilian bottling operations. Refer to Note 2 of Notes to Consolidated Financial Statements for additional information.
Property, Plant and Equipment
Purchases of property, plant and equipment net of disposals for the years ended December 31, 2015, 2014 and 2013 were $2,468 million, $2,183 million and
$2,439 million, respectively.
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