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The Coca-Cola Company Reports Full-Year And Fourth Quarter 2013 Results

Stocks in this article: KO

Restructuring

During the three months and year ended December 31, 2013, the Company recorded charges of $102 million and $188 million, respectively. The Company recorded charges of $119 million and $163 million during the three months and year ended December 31, 2012, respectively. These charges were related to the integration of our German bottling and distribution operations as well as other restructuring initiatives outside the scope of the Company's productivity and reinvestment program.

Productivity and Reinvestment

During the three months and year ended December 31, 2013, the Company recorded charges of $182 million and $494 million, respectively. The Company recorded charges of $93 million and $270 million during the three months and year ended December 31, 2012, respectively. These charges were related to our productivity and reinvestment program. This program is designed to further enable our efforts to strengthen our brands and reinvest our resources to drive long-term growth. The first component of this program is a global productivity initiative focused around four primary areas: global supply chain optimization; global marketing and innovation effectiveness; operating expense leverage and operational excellence; and data and information technology systems standardization.

THE COCA-COLA COMPANY AND SUBSIDIARIES

Reconciliation of GAAP and Non-GAAP Financial Measures

(UNAUDITED)

Productivity and Reinvestment (continued)

The second component of our productivity and reinvestment program involves an integration initiative in North America related to our acquisition of Coca-Cola Enterprises Inc.'s ("CCE") former North America business. The Company has identified incremental synergies in North America, primarily in the area of our North American product supply operations, which will better enable us to serve our customers and consumers.

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