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