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The Coca-Cola Company Reports Full-Year And Fourth Quarter 2012 Results

During the three months and year ended December 31, 2011, the Company recorded charges of $80 million and $156 million, respectively, related to our 2008-2011 productivity initiatives. These initiatives were focused on providing additional flexibility to invest for growth and impacted a number of areas, including aggressively managing operating expenses supported by lean techniques; redesigning key processes to drive standardization and effectiveness; better leveraging our size and scale; and driving savings in indirect costs.

The Company incurred total costs of $498 million related to these initiatives since inception. These initiatives delivered annualized savings of over $500 million beginning in 2011, exceeding the upper end of the Company’s original savings target of $400 million to $500 million.

Equity Investees

During the three months and year ended December 31, 2012, the Company recorded net charges of $25 million and net gains of $8 million, respectively, in the line item equity income (loss) — net. These amounts represent the Company’s proportionate share of unusual or infrequent items recorded by certain of our equity method investees.

During the three months and year ended December 31, 2011, the Company recorded net charges of $13 million and $53 million, respectively, in the line item equity income (loss) — net. These charges represent the Company’s proportionate share of unusual or infrequent items recorded by certain of our equity method investees.

CCE Transaction

During the three months and year ended December 31, 2012, the Company reversed charges of $1 million and $6 million, respectively, related to previously established accruals associated with the Company’s integration of CCE’s former North America business. These reversals were recorded in the line item other operating charges.

During the three months and year ended December 31, 2011, the Company recorded charges of $145 million and $386 million, respectively, primarily related to our integration of CCE’s former North America business. These charges were primarily due to the development, design and initial implementation of our future operating framework in North America.

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