Date: Thu, 18 Dec 1997 05:40:58 GMT Server: Apache/1.2.1 Last-Modified: Sat, 10 May 1997 03:46:20 GMT ETag: "272fed-b1a8-3373ef8c" Content-Length: 45480 Accept-Ranges: bytes Connection: close Content-Type: text/html Summary Financial Information Summary Financial Information
 (In millions except per share data)
 FISCAL YEAR
 1996
 Proforma(A)
Reported
1995(B)
Operations Summary   
Net operating revenues$    10,307$   7,921$   6,773
Cost of sales6,444
4,896
4,267
Gross profit3,8633,0252,506
Selling, general, and administrative
  expenses3,1552,4802,038



Operating income708545468
Interest expense, net564351326
Other nonoperating income
  (deductions), net 5-(6)
Gain from sale of bottling operations-
-
9
Income (loss) before income taxes   
  and cumulative effect of changes in    
  accounting principles149194145
Income tax expense (benefit)618063



Income (loss) before cumulative effect   
  of changes in accounting principles8811482
Cumulative effect of changes in
  accounting principles-
-
-
Net income (loss)8811482
Preferred stock dividends9
8
2
Net income (loss) applicable
  to common share owners$            79
$       106
$         80

Other Operating Data   
Depreciation expense$         483$      392$      318
Amortization expense319235211

Share and Per Share Data   
Average common shares outstanding125125129
Net income (loss) per common share   
  before cumulative effect of   
  changes in accounting principles$        0.63$     0.85$     0.62
Net income (loss) applicable
  to common share owners0.630.850.62
Dividends per common share0.100.100.05
Closing stock price481/2481/2267/8

Year-End Financial Position   
Property, plant, and equipment, net$      3,156$   2,812$   2,158
Franchises and other
  noncurrent assets, net9,8167,1035,924
Total assets14,67411,2349,064
Long-term debt7,3155,3054,201
Share-owners' equity1,5501,5501,435

 1994
1993(C)
1992(D)
Operations Summary   
Net operating revenues$      6,011$   5,465$   5,127
Cost of sales3,703
3,372
3,219
Gross profit2,3082,0931,908
Selling, general, and administrative
  expenses1,8681,7081,602



Operating income440385306
Interest expense, net310328312
Other nonoperating income
  (deductions), net(3)(2)(6)
Gain from sale of bottling operations-
-
-
Income (loss) before income taxes   
  and cumulative effect of changes in    
  accounting principles12755(12)
Income tax expense (benefit)58703



Income (loss) before cumulative effect   
  of changes in accounting principles69(15)(15)
Cumulative effect of changes
  in accounting principles-
-
(171)
Net income (loss)69(15)(186)
Preferred stock dividends2
-
-
Net income (loss) applicable
  to common share owners$            67
$      (15)
$    (186)

Other Operating Data   
Depreciation expense$         282$      254$      227
Amortization expense179165162

Share and Per Share Data   
Average common shares outstanding130129129
Net income (loss) per common share   
  before cumulative effect of changes   
  in accounting principles$        0.52$  (0.11)$  (0.11)
Net income (loss) applicable
  to common share owners0.52(0.11)(1.45)
Dividends per common share0.050.050.05
Closing stock price18151/4121/4

Year-End Financial Position   
Property, plant, and equipment, net$      1,963$   1,890$   1,733
Franchises and other
  noncurrent assets, net5,9656,0465,651
Total assets8,7388,6828,085
Long-term debt4,1874,3914,131
Share-owners' equity1,3391,2601,254

 1991
 Proforma(E)
Reported
1990
Operations Summary   
Net operating revenues$      5,027$   3,915$   3,933
Cost of sales3,170
2,420
2,400
Gross profit1,8571,4951,533
Selling, general,
  and administrative expenses1,6871,3751,208



Operating income170120325
Interest expense, net312210200
Other nonoperating income
  (deductions), net(3)(2)3
Gain from sale of bottling operations-
-
56
Income (loss) before income taxes   
  and cumulative effect of changes in    
  accounting principles(145)(92)184
Income tax expense (benefit)(17)(9)91



Income (loss) before cumulative effect   
  of changes in accounting principles(128)(83)93
Cumulative effect of changes in
  accounting principles-
-
-
Net income (loss)(128)(83)93
Preferred stock dividends9
9
16
Net income (loss) applicable
  to common share owners$       (137)
$      (92)
$         77

Other Operating Data   
Depreciation expense$         205$      160$      150
Amortization expense1259186

Share and Per Share Data   
Average common shares outstanding129116119
Net income (loss) per common share   
  before cumulative effect of   
  changes in accounting principles$     (1.06)$  (0.79)$     0.65
Net income (loss) applicable
  to common share owners(1.06)(0.79)0.65
Dividends per common share0.050.050.05
Closing stock price153/8153/8151/2

Year-End Financial Position   
Property, plant, and equipment, net$      1,706$   1,706$   1,373
Franchises and other
  noncurrent assets, net4,2654,2653,153
Total assets6,6776,6775,021
Long-term debt4,0914,0912,537
Share-owners' equity1,4421,4421,627
 1989
1988
1987
Operations Summary   
Net operating revenues$      3,822$   3,821$   3,327
Cost of sales2,350
2,303
1,953
Gross profit1,4721,5181,374
Selling, general, and administrative
  expenses1,1621,1641,037



Operating income310354337
Interest expense, net193202160
Other nonoperating income
  (deductions), net1012(4)
Gain from sale of bottling operations11
104
-
Income (loss) before income taxes   
  and cumulative effect of changes in   
  accounting principles138268173
Income tax expense (benefit)6611585



Income (loss) before cumulative effect   
  of changes in accounting principles7215388
Cumulative effect of changes
  in accounting principles-
-
-
Net income (loss)7215388
Preferred stock dividends18
10
-
Net income (loss) applicable to
  common share owners$            54
$      143
$         88

Other Operating Data   
Depreciation expense$         148$      143$      123
Amortization expense818272

Share and Per Share Data   
Average common shares outstanding130139140
Net income (loss) per common share   
  before cumulative effect   
  of changes in accounting principles$        0.41$     1.03$     0.63
Net income (loss) applicable to
  common share owners0.411.030.63
Dividends per common share0.050.050.05
Closing stock price1615141/4

Year-End Financial Position   
Property, plant, and equipment, net$      1,286$   1,180$   1,038
Franchises and other noncurrent
  assets, net2,9523,0012,760
Total assets4,7324,6694,250
Long-term debt2,3052,2112,157
Share-owners' equity1,6801,8081,526
Fiscal periods presented are calendar years, beginning after 1991, and fiscal years ending on the Friday nearest December 31 prior to 1991. The Company acquired subsidiaries in each year presented and divested subsidiaries in certain periods. Such transactions, except for: (i) the 1997 acquisition of Coca-Cola & Schweppes Beverages Limited ("CCSB"), (ii) the acquisition of Coca-Cola Beverages S.A., Coca-Cola Production S.A., and S.A. Beverage Sales Holding N.V. (collectively "the French and Belgian bottlers"), (iii) the acquisition of Johnston Coca-Cola Bottling Group, Inc. ("Johnston"), and (iv) gains from the sale of certain bottling operations, did not significantly affect the Company's operating results in any one fiscal period. All acquisitions and divestitures have been included in or excluded from, as appropriate, the consolidated operating results of the Company from their respective transaction dates.
(A) The 1996 proforma Operations Summary, Other Operating Data and Share and Per Share Data give effect to the following acquisitions as though each had been owned for a full year beginning January 1, 1996: Coca-Cola & Schweppes Beverages Limited, the French and Belgian bottlers, Coca-Cola Bottling Company West, Inc., Grand Forks Coca-Cola Bottling Co., and Ouachita Coca-Cola Bottling Company, Inc. ("Ouachita").
(B) In January 1995 the Company sold its 50% ownership interest in The Coca-Cola Bottling Company of the Mid South ("Mid South") to Ouachita. The Company's interest in Mid South was reacquired through the Ouachita acquisition in February 1996.
(C) A one-time charge of $40 million ($0.31 per common share) in income tax expense to increase deferred income taxes resulted from a 1% increase in the corporate marginal income tax rate in connection with the Omnibus Budget Reconciliation Act of 1993.
(D) The adoption of SFAS 106 and SFAS 109 resulted in one-time charges to income. Fiscal periods prior to 1992 were not restated for these accounting changes.
(E) The 1991 proforma Operations Summary, Other Operating Data and Share and Per Share Data give effect to the acquisition of Johnston in December 1991 as though it had been completed at the beginning of 1991. A restructuring charge in 1991 of $152 million is included in selling, general, and administrative expenses.



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