Coca-Cola Industries

THE COCA-COLA COMPANY AND SUBSIDIARIES 

CONSOLIDATED STATEMENTS OF INCOME 
| | | | | | | | | | |
Year Ended December 31, |   |   | 2010 |   |   | 2009 |   |   | 2008 |   |
(In millions except per share data) |   |
NET OPERATING REVENUES |   |   | $  35,119 |   |   | $  30,990 |   |   | $  31,944 |   |
Cost of goods sold |   |   | 12,693 |   |   | 11,088 |   |   | 11,374 |  |
  |   |
GROSS PROFIT |   |   | 22,426 |   |   | 19,902 |   |   | 20,570 |   |
Selling, general and administrative expenses |   |   | 13,158 |   |   | 11,358 |   |   | 11,774 |   |
Other operating charges |   |   | 819 |   |   | 313 |   |   | 350 |   |
  |   |
OPERATING INCOME |   |   | 8,449 |   |   | 8,231 |   |   | 8,446 |   |
Interest income |   |   | 317 |   |   | 249 |   |  | 333 |   |
Interest expense |   |   | 733 |   |   | 355 |   |   | 438 |   |
Equity income (loss) — net |   |   | 1,025 |   |   | 781 |   |   | (874 | ) |
Other income (loss) — net |   |   | 5,185 |   |   | 40 |   |   | 39 |   |
  |   |
INCOME BEFORE INCOME TAXES |   |   | 14,243 |   |   | 8,946 |   |   | 7,506 |   |
Income taxes |   |   | 2,384 |   |   | 2,040 |   |   | 1,632 |   |  |   |
CONSOLIDATED NET INCOME |   |   | 11,859 |   |   | 6,906 |   |   | 5,874 |   |
Less: Net income attributable to noncontrolling interests |   |   | 50 |   |   | 82 |   |   | 67 |   |
  |   |
NET INCOME ATTRIBUTABLE TO SHAREOWNERS OF THE COCA-COLA COMPANY |   |   | $  11,809 |   |   | $    6,824 |   |   | $    5,807 |   |
  |   |
BASIC NET INCOME PER SHARE1 |   |   | $      5.12 |  |   | $      2.95 |   |   | $      2.51 |   |
  |   |
DILUTED NET INCOME PER SHARE1 |   |   | $      5.06 |   |   | $      2.93 |   |   | $      2.49 |   |
  |   |
AVERAGE SHARES OUTSTANDING |   |   | 2,308 |   |   | 2,314 |   |   | 2,315 |   |
Effect of dilutive securities |   |   | 25 |   |   | 15 |   |   | 21 |   |
  |   |
AVERAGE SHARES OUTSTANDING ASSUMING DILUTION |   |   |2,333 |   |   | 2,329 |   |   | 2,336 |   |
  |   |
1 Basic net income per share and diluted net income per share are calculated based on net income attributable to shareowners of The Coca-Cola Company. |   |
Refer to Notes to Consolidated Financial Statements.
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THE COCA-COLA COMPANY AND SUBSIDIARIES 

CONSOLIDATED BALANCE SHEETS 
| | | | | | | | | |
December 31, |   |  | 2010 |   |   | 2009 |   |
(In millions except par value) |   |
ASSETS |   |   |   |   |   |   |   |
    CURRENT ASSETS |   |   |   |   |   |   |   |
        Cash and cash equivalents |   |   | $     8,517 |   |   | $     7,021 |   |
        Short-term investments |   |   | 2,682 |   |   | 2,130 |   |
  |   |
    TOTAL CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS |   |   |11,199 |   |   | 9,151 |   |
  |   |
        Marketable securities |   |   | 138 |   |   | 62 |   |
        Trade accounts receivable, less allowances of $48 and $55, respectively |   |   | 4,430 |   |   | 3,758 |   |
        Inventories |   |   | 2,650 |   |   | 2,354 |   |
        Prepaid expenses and other assets |   |   | 3,162 |   |   | 2,226 |   |
  |   |
    TOTAL CURRENT ASSETS|   |   | 21,579 |   |   | 17,551 |   |
  |   |
    EQUITY METHOD INVESTMENTS |   |   | 6,954 |   |   | 6,217 |   |
    OTHER INVESTMENTS, PRINCIPALLY BOTTLING COMPANIES |   |   | 631 |   |   | 538 |   |
    OTHER ASSETS |   |   | 2,121 |   |   | 1,976 |   |
    PROPERTY, PLANT AND EQUIPMENT — net |   |   | 14,727 |   |   | 9,561 |   |
    TRADEMARKS WITH INDEFINITE LIVES |   |   |6,356 |   |   | 6,183 |   |
    BOTTLERS' FRANCHISE RIGHTS WITH INDEFINITE LIVES |   |   | 7,511 |   |   | 1,953 |   |
    GOODWILL |   |   | 11,665 |   |   | 4,224 |   |
    OTHER INTANGIBLE ASSETS |   |   | 1,377 |   |   | 468 |   |
  |   |
            TOTAL ASSETS |   |   | $   72,921 |   |   | $   48,671 |   |
  |   |
LIABILITIES AND EQUITY |   |   |   |   |   |   |   |...