tccc 2011 annual review

7/31/2019 TCCC 2011 Annual Review

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2011 Annual Review

PASSIONATELY REREShINgA ThIRSTY WORLd


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Inspired by the worlds greatest brandand driven by a talented and passionate

team o more than 700,000 systemassociates, we are operating rom aposition o strength. Together with ourbottling partners, we are executing

against a solid, ocused vision.

2 Letter to Shareowners

5 Selected Financial Data

6 2011 Highlights

8 125th Anniversary

12 Per Capita Consumption

14 Rereshing Our System

16 Rereshing Our Business

Through Innovation18 Rereshing Our Portolio

20 Rereshing Our Approach toConsumer Engagement

22 Rereshing the CommunitiesWe Serve

24 2011 Operating Group Highlights

28 Business Prole

30 Management

32 Board o Directors

33 Shareowner Inormation

34 Company Statements35 2020 Vision


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dear ellow Sareowners:

In 2011, I was honored to represent

The CocaCola Company all over the world,

in humble villages and great, bustling cities.

Wherever I traveled, I spent time in stores,

restaurants, shops and homesthe places

where people buy and enjoy CocaCola. With

every visit, I learned something new about ourbusiness: what we are doing well and what

we canand mustdo even better.

Again and again, as I listened to consumers,

customers, bottling partners, associates and

shareowners like you, one thought kept coming

back to me: I wish all o you could see this

business the way I do.

That is quite a wish, I know. But, i you hadbeen with me this past year, you would have

experienced so many exciting and memorable

moments in our ongoing story.

CocaCola turned 125 years young in 2011,

and we celebrated by thanking all the people

who, since 1886, have made CocaCola what

it is today.

Even ater three decades in our business,I was amazed and energized by the outpouring

o aection or CocaCola. Had you been

with me last May, as we turned our Atlanta

headquarters building into an animated,

26story thank you card, I am sure you would

have elt something similar.

Late in the year, we moved our secret ormula

rom a nearby Atlanta bank to a new vault at

the World o CocaCola. Again, the worldsattentionand aectionturned to CocaCola.

The intense interest in our anniversary and

secret ormula demonstrated the enduring

power o our brands, which we continue

to strengthen.

In 2011, we ocused on realizing our

2020 Visionan aggressive but achievable

systemwide plan or growth launched at the

outset o 2010. How did our eorts measure

up against the 6 Ps o our 2020 Vision? Let us

take a look at each one: Prot, People, Portolio,Partners, Planet and Productivity.

1. Prot. In 2011, we built strong momentum

toward our 2020 goal o doubling our business

over the course o this decade. In act, across

the rst two years o our 2020 Vision, we met

or exceeded our longterm growth targets.

In 2011, we increased sparkling volume

4 percent and still volume 8 percent. All told, we

sold 26.7 billion unit cases, earning $46.5 billionin revenues. We delivered nearly 1 billion unit

A LETTER ROm OuR ChAIRmANANd ChIE ExECuTIvE OICER

Around the world, our associates set us

apart, rallying behind our 2020 Vision withocus and intensity.

2 The CocaCola Company


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cases o incremental organic volume growth

the equivalent o adding another market the

size o Japan to our businessand increased

operating income by $1.7 billion to $10.2 billion.

We became a better competitor, gaining

market share across the world in almost

every nonalcoholic beverage category and

increasing our total market share. Early in 2012,

we announced our 50th consecutive annualdividend increase, raising our dividend

8.5 percent.

2. People. Around the world, our associates

set us apart, rallying behind our 2020 Vision

with ocus and intensity. This was as true in

Ireland, Russia and the United States, where

I helped open new plants, as it was when I

visited with associates in China, Indonesia,

Japan and a dozen other countries.

At our headquarters, one associate selessly

donated a kidney to another. In Texas, a

technician on a service call rushed to the aid

o a college student struck crossing the street,

saving her lie. And a Venezuelan associate

won fve medals at the 2011 Special Olympics

World Games in Greece.

Everywhere I went, I saw our people executingin the marketplace, delivering or our customers

and achieving extraordinary things. In the wake

o heartbreaking devastation in Japan and

Thailand, our associates inspired us all with

their strength, resilience and determination.

3. Portfolio. CocaCola and our other brands

occupy a unique place in the hearts o people

worldwide, and we did not take that position

or granted in 2011. Instead, we sought out newand better ways to enhance our ans aection

or our brands.

This eort took many orms, rom making sure

we had compelling marketing and eective

merchandising, to creating memorable moments

o connection and un, to participating in

inspiring events.

For 2011, we ramped up our eorts to win with

CocaCola, the oxygen o our business. Brand

CocaCola grew more than 3 percent or the

year, adding nearly 350 million incremental unit

cases. We also invested in our 14 other billion

dollar brands, including Minute Maid Pulpy,

which grew 20 percent in 2011.

And we introduced more consumers to

the wonders o CocaCola Freestylethe

innovative new ountain dispenser that

delivers more than 125 branded beverage

choices with less environmental impact thanour traditional legacy equipment.

4. Partners. In 2011, our Company created

tremendous economic value or those working

with us to reresh a thirsty world. Along with our

bottling partners, we became more integrated

into the growth strategies o our more than

20 million customers, helping them grow

and prosper and create jobs.

Working with our customers, we increased

immediate consumption beverages by

4 percent through enhanced instore activations

and additional colddrink equipment. In Latin

America, a new retail design initiative is helping

small traditional retailers increase oot trafc

and create more passion points in their stores.

In the United States, innovations such as

CocaCola Freestyle and our PlantBottle

package helped generate greater sales and

velocity or our partners.

5. Planet. We believe frmly in the power o

partnerships among the golden triangle

o business, government and civil society

organizations, and we have seen good

progress being made across a number o

water, packaging, energy efciency and

community empowerment programs.

One such unique environmental partnershipwas a bold initiative we launched in 2011 with

World Wildlie Fund in North America. Our

Arctic Home program was designed to help

raise awareness about the plight o polar

bears while providing unding to support

conservation eorts.

Another initiative that continued to gain traction

last year was our bold and ambitious 5 BY 20

commitment to enable the empowerment o5 million women entrepreneurs by 2020. By

yearend 2012, we expect the program to reach

CocaCola and our other brands occupya unique place in the hearts o peopleworldwide, and we did not take that positionor granted in 2011.

2011 Annual Review 3


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300,000 women. One such person is Preeti

Gupta, a mother o three who has a small store

in her home in rural India. With a solarpowered

cooler rom CocaCola, she can now provide

cold beverages to her customers and keep her

lights on at night, enabling her children to have

more time to study.

6. Productivity. In 2011, we successully

completed a ouryear productivity program,realizing annualized savings o more than

$500 million. Meanwhile, the integration o the

North American operations o CocaCola

Enterprises into our Company moved smoothly

orward, opening up resh pathways to growth.

For the uture, I am convinced that some o

our most important business breakthroughs

will come at the intersection o sustainability

and innovation. Last year, or example, weexpanded our PlantBottle technology to more

markets, increasing distribution o the up to

30 percent plantbased packaging and

protecting our longterm cost competitiveness.

Looking ahead, we see vast opportunities

or your Company. Across the more than

200 countries we serve, our hardworking and

passionate teams are engaged in creating

value in every possible way. For our consumers.

For our customers. For our communities. Andor you, our shareowners.

We know our business can only be as strong

and sustainable as the communities we serve,

and we continue to support the economic

recovery in the United States and around the

globe. For 2012 and beyond, we will keep

striving to act as a responsible corporate citizen.

I also want you to know that I have never beenmore optimistic about CocaCola nor more

proud o our people, who did a remarkable job,

oten in challenging and difcult circumstances.

Even so, we remain constructively discontent.

We know this is a journey. In act, as we begin

our next 125 years, we do so with a proound

sense that we are just getting started.

On behal o the incredibly hardworking 146,200

women and men o The CocaCola Company,

please accept my sincerest gratitude or your

investment. We appreciate your trust andconfdence, we are dedicated to delivering

on your behal, and we could not be more

proudand humbledto have the opportunity.

Thank you,

Muhtar Kent

Chairman o the Board o Directors

and Chie Executive Ofcer

April 1, 2012

For the uture, I am convinced thatsome o our most important businessbreakthroughs will come at the intersectiono sustainability and innovation.



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SELECTEd AS REPORTEd INANCIAL dATAANd PERORmANCE AT-A-gLANCE

2011 2010Year Ended December 31,

(in millions except per share data)

2009 2008

SummARY O OPERATIONS

Net operating revenues $46,542 $35,119 $30,990 $31,944

Operating income 10,154 8,449 8,231 8,446

Net income attributable to shareowners of

The CocaCola Company 8,572 11,809 6,824 5,807

PER ShARE dATA

Basic net income $3.75 $5.12 $2.95 $2.51

Diluted net income 3.69 5.06 2.93 2.49

Cash dividends 1.88 1.76 1.64 1.52

BALANCE ShEET dATA

Total assets $79,974 $72,921 $48,671 $40,519

Longterm debt 13,656 14,041 5,059 2,781

$30,9902009

$35,1191

2010$46,5422011

NET OPERATINg REvENuES(in millions)

$8,2312009

$8,4491

2010$10,1542011

OPERATINg INCOmE(in millions)

24.42009

25.51

201026.72011

uNIT CASE vOLumE(in billions)

$8,1862009

$9,5321

2010$9,4742011

OPERATINg CASh LOW(in millions)

1 Includes the impact o the Companys acquisition o CocaCola Enterprises (CCE) Inc.s North American business and the sale o our Norway and Sweden bottling operations, which closed on October 2, 2010

1

2011 Annual Review 52011 Annual Review 5


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We are elierin on or 2020 vision. In the past two years, we

have gained global nonalcoholic readytodrink (NARTD) volume and

value share by capturing nearly 30% o industry volume growth and

nearly 40% o industry value growth; sold more than 700 million

incremental unit cases o Trademark CocaCola; placed more than

2.2 million new pieces o colddrink equipment in the marketplace

with our bottling partners; and added two juice brands to our portolio

o billion dollar brands.

2011 COmPANY ANdCOCA-COLA SYSTEm hIghLIghTS

Cappe a yearlon celebration o te 125t

anniersary o Coca-Cola by oin te secret

orla to te Worl o Coca-Cola.

Expanded our

growing roster o

billion dollar brands

to 15 with the

addition o Del Valle.

Advanced to No. 6 onFORTUNE

magazines 2011 list o the Worlds

50 Most Admired Companies, and

moved up to No. 8 onBarrons ranking

o the Worlds Most Respected

Companies.

Topped Interbrands ranking o the

100 Best Global Brands or the 12th

consecutive year. The estimated brand

value o CocaCola increased 2%

to $71.9 billion in 2011.

Continued the rollout o the CocaCola

Freestyle ountain dispenser to more

than 80 U.S. markets.

Named Marketer o the Year byAd Age

in recognition o both our worldclass

marketing and strong business results

in 2011.



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Formed a global partnership with the

International Federation o Red Cross

and Red Crescent Societies (IFRC) to

support the IFRCs work in disaster

response/preparedness and public

engagement.

deliere alost 1 billion nit cases o

increental oranic ole rowt in 2011.

Iportantly, we enerate positie rowt in

key eelope arkets like Nort Aerica,

gerany an Japan, an oble-iit rowt

in key eerin arkets like Cina an Inia.

Moved up ve spots to No. 12

on DiversityInc magazinesTop 50 Companies or Diversity

list or 2011.

Committed $6 million to our Replenish

Arica Initiative (RAIN) in support o

water and sanitation programs

beneting 250,000 women and girls

on the continent.

Established the $31 million CocaCola

Japan Reconstruction Fund to support

relie and rebuilding eorts over the

next three years in the wake o the

tragic earthquake and tsunami.

Partnered with

Heinz to enable

them to produce

Heinz Ketchup

bottles using our

breakthrough

PlantBottle

packaging made

partially rom plants.

Annonce a ltiyear partnersip

wit (REd) to raise awareness an

oney or te global n wit te

oal o irtally eliinatin oter-to-cil transission o hIv by 2015.

Annonce ltibillion ollar inestents in

Cina, Inia, te mile East an Rssia as part

o te ore tan $30 billion or syste as

coitte to inest worlwie oer te net

e years to spport anticipate rowt.

Partnered with World Wildlie Fund

(WWF) to launch Arctic Home, a bold

campaign to help protect polar bear

habitat. The Company has committed

$2 million to the eort and will matchconsumer donations o up to an

additional $1 million.

Aree to acire approiately

al o te eity in Ajan Instries

eistin beerae bsiness. Te

$980 illion transaction will ie s a

sinicant stake in one o te mileEasts leain still beerae copanies.



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We are a 125-year-ol branan bsiness ene by oryot, not or ae.

Ljbljana, Sloenia

Joannesbr, Sot Arica


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Bankok, Tailan

Lonon, great Britain

Atlanta, unite States

Sanai, Cina

9 2011 Annual Review 9


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dbai, unite Arab Eirates

meico City, meico



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An we are jst

ettin starte.


Berlin, gerany


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2011 PER CAPITA CONSumPTION SNAPShOT

12

1214

17

2738

4053

73

848892

India

Mali

Indonesia

Pakistan

Nigeria

China

Kenya

Egypt

Russia

South KoreaMorocco

Worlwie

Thailand

Colombia

Philippines

Italy

France

Turkey

Japan

El Salvador

Germany

PeruGreat Britain

Brazil

93

127129

137149

173

179180

190

208210230

Bolivia

South Arica

Austria

Canada

Spain

Australia

Belgium

Argentina

Panama

United StatesChile

Mexico

244

247253

259287

309340

345

379

403460728

PER CAPITA CONSumPTION OCOmPANY BEvERAgE PROduCTS

Per capita consumptionthe average number

o 8ounce servings o our beverages people

consume each year in a given marketis a key

indicator o our growth potential. These rates are

still relatively low in many o our astestgrowing

markets, revealing tremendous opportunity in the

years ahead. We are ocused on doubling our

business this decade by driving protable growth

through innovation in developed markets;

maximizing value through segmentation and

building consumer loyalty in developing markets;

and driving volume and investing or accelerated

growth in emerging markets.

92 servings

8 fuid ounces

conse per personworlwie in 2011

Base on u.S.

o a nise beerae



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Our business was built or times like these. We provide consumers

with an aordable luxury: we sell moments o happiness, orcents at a time, more than 1.7 billion times a day in more than

200 countries. We proudly partner with more than 20 million

customers each week to deliver innovative, categoryleading

brands and services. Working with our nearly 275 bottling

partners, we have developed a global distribution system tailored

to local markets, adapted to local conditions and staed by local

leaders. All o our attributesan aligned system, healthy brands,

consistently strong nancial perormance and a clear vision

position us to reresh a thirsty world.

PASSIONATELY

REREShINg AThIRSTY WORLd



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REREShINg

OuR SYSTEm

Place ore tan 1.2 illion

new pieces o col-rink

eipent in te arketplace

wit or bottlin partners

in 2011, totalin ore tan

2.2 illion since 2010.

Or syste as neer been stroner. Together

with our nearly 275 bottling partners, we are

investing and executing as a unied system.

Todays investments uel tomorrows growth.

We understand that a clear vision, conviction andbelieollowed by investmentdrive sustainable

results. The progress we are making today in

markets around the world is the product o precise

execution combined with targeted, aheadothe

curve investments made with our bottling partners.

The ongoing integration eorts in our fagship market

ollowing the 2010 acquisition o the North American

operations o CocaCola Enterprises Inc. have

enabled us to build a more ocused selling process

to take our strong brands to market in the right

way and generate greater value or our customers.

As a result, we are aster and more nimble,

and more coordinated and consistent in ourgotomarket approach.

Globally, our system has committed to invest more

than $30 billion over the next ve years to support

anticipated growthrom new manuacturing

acilities in developed markets to new distribution

systems and marketing programs in emerging

economies. We will invest $2 billion in India,



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Toeter wit or bottlin partners,

we rank aon te worls top 10priate eployers wit ore tan

700,000 syste associates.

Together withour bottlingpartners, wehave investedmore than$3 billion inChina overthe pastthree years.

where the per capita consumption rate reveals

tremendous growth potential, over the next ve

years. Over the next three years, we plan to invest

$4 billion in China, where our business has doubled

in the past ve years. We also will invest $3 billion in

Russia over the next ve years and $5 billion in theMiddle East and North Arica over the next decade.

Through these and other investments, we expect

to create 100,000 jobs in this decade.

We also continue to invest in our brands on a

global scale through worldclass marketing and

commercial strategies, as well as breakthrough

innovations that will help us deliver on our

2020 Visionrom natural, nocalorie sweeteners,

to more sustainable packaging like PlantBottle,

to equipment and consumer engagement

platorms like CocaCola Freestyle. Combined,

these longterm investments will give us a strong

competitive advantage.

Toeter wit or bottlin partners,

we rank aon te worls top 10priate eployers wit ore tan

700,000 syste associates.



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Innoation is in or dNA. It is part o both our

heritage and our uture. We see innovation as

understanding our consumers needs and

nding new ways to satisy them, then investing

aggressively to bring them to market.

From packaging made partially rom plants, to the

ountain o the uture, to our creative use o social

media, our gamechanging innovations continued

to receive high marks in 2011. Interbrand credited

two o our recent breakthroughs with enhancing

the value o CocaCola, which topped its list o the

100 Best Global Brands or the 12th straight year.

Coca-Cola reestyle has reinvented the ountain

experience by giving consumers exciting new ways

to experience our brands. Capable o producing

more than 125 beverage choices, the sleek, more

sustainable dispenser is now available in more

than 80 U.S. markets and is expanding to severalinternational markets. It drives revenue and trac or

our customers, providing us with valuable insights

while also reducing our environmental impact.

A second innovation, PlantBottle packaging,

is driving not only our improved environmental

perormance and longterm productivity but also

sales and brand love. The ully recyclable polyethyleneterephthalate (PET) plastic package made with up

We partnere wit goole

to pilot casless enin

acines sin goole

Wallet payent serice,

wic allows consers

to se teir sartpones

to prcase beeraeswit a siple tap.

Coca-Cola reestyle an PlantBottle wonBest New Proct Awars at te 2011

Eison Awars in te New Retail rontiersan Enery & Sstainability Packain

cateories, respectiely.



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to 30 percent plantbased material has given a

boost to Dasani in the United States and other

brands around the world. By the end o 2011,

PlantBottle packaging was available in 20 markets,

and nearly 10 billion PlantBottle packages had been

shipped. To date, use o PlantBottle packaging hashelped save the equivalent annual emissions o

more than 100,000 metric tons o carbon dioxide.

We are partnering with three leading biotechnology

companies to achieve our longterm goal to develop

the rst commercial solution or nextgeneration

PlantBottle packaging made 100 percent rom plant

based materials. And an industryrst partnershipwith H.J. Heinz Company allows the ketchup maker

to produce its 20ounce bottles in the United States

using PlantBottle technology, building awareness

and arming our continued leadership in

sustainable packaging.

The act that we operate in more than 200 countriesand manage a global network o worldclass R&D

centerspositions us to quickly develop, commercialize

and spread winning ideas. For example, minte mai

Plpy has used its initial success in China as a

springboard to quickly reach 20 countries within a

ew years o its debut. The development o what has

become another o our billion dollar juice and juice

drink brands is a testament to our systems ability torapidly scale innovation in any part o the world.

REREShINg

OuR BuSINESS

ThROughINNOvATION

Sweetener Innoation

The European Commission authorized the use o stevia,

a natural, zerocalorie sweetener. We now oer more

than 30 sparkling and still beverages sweetened with

stevia in seven countries. The decision will enable

us to urther scale this innovation and deliver more

greattasting low and nocalorie beverages.

groe to glass

Our Grove to Glass approach has rewired how we source

ruit as well as produce our juice and juice drink products.



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Te ealt o or brans as neer been better.

We are the proud stewards o 15 Companyowned

billion dollar brands spanning a range o categories,

anchored by the worlds most recognized and most

valuable brand: CocaCola. Our brand metrics

around the world are stronger than ever.

Globally, we are the No. 1 provider o sparkling

beverages, juices and juice drinks, and readyto

drink coees. Additionally, we are the secondlargest

provider o sports drinks and packaged water, and

the worlds No. 3 energy drink company.

Our portolio is perpetually evolving and expanding

based on the changing needs and tastes o our

consumers. Today we oer more than 3,500

sparkling and still beverages around the world

three times as many as we did a decade ago

including more than 500 new products launched in

2011. These brands are supported by worldclass

marketing, packaging and instore merchandising.

We have worked to introduce products or every

liestyle and occasion, in an array o convenient

package sizes and ormats. Low and nocalorie

beverages now represent nearly 25 percent o our

global sales volume. Since 2000, our global average

number o calories per serving has decreased by

9 percent, and 19 o our top 20 brands have a low

or nocalorie alternative or are low or nocalorie.

Or top or brans Coca-Cola, Sprite,

anta an diet Coke all aain eceee

$10 billion in lobal retail sales in 2011.

Bran Coca-Colate

oyen o or bsiness

is a billion ollar bran

in 18 ierent contries.



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We lance laca

itainwater in Arentina,

Cile an denark, brinin

te brans total nber o

arkets to 24.

Powerae rew 12% in2011, continin te stron

oent create rin

te 2010 IA Worl Cp.

In 2011, we gained volume and value share globally

in total NARTD beverages, as well as in both the

sparkling and still beverage categories. Unit case

volume or our global sparkling beverage portolio

was up 4 percent, driven by CocaCola (up

3 percent), Sprite (up 5 percent) and Fanta

(up 3 percent).

We continue to provide consumers with beverage

choices to suit all tastes and liestyles. Our global still

beverage portolio also perormed well, up 8 percent

in 2011. Del Valle became our 15th brandand

the third straight rom our juice and juice drink

portolioto cross the $1 billion global retail sales

mark. Since acquiring Jugos del Valle, a leading juice

REREShINgOuR PORTOLIO

company in the Latin American region, our system

has more than doubled retail sales o the Del Valle

brand and expanded distribution to 15 countries. We

also reached an agreement to acquire a signicant

equity stake in the existing beverage business o

Aujan Industries, one o the largest juice companies

in the Middle East.

This is how we have built the worlds most valuable

beverage brand portolio, with 15 Companyowned

billion dollar brandsmore than any other

beverage company.

+7% +10%+4%

Figures above represent 2011 unit case volume growth.



22/38

Consers are ore epowere tan eer.

That is why we market our products by creating

compelling content and experiences that spread

seamlessly and spark conversations to keep our

brands vibrant and relevant. This Liquid and Linked

strategy ocuses on delivering authentic brand

stories that can spread and scale across multiple

marketing channels, while linking to our business

strategy and our consumers passions.

In 2011, we used music as a powerul vehicle to

connect with consumers. CocaCola Music, our

largestever integrated music platorm, ocused

on teen recruitment and gave ans in more than

130 countries the inside track on the latest music

through opportunities to express themselves,

collaborate with top artists and share experiences

with riends. The platorm kicked o with ans around

the world tuning in to watch a live stream o

GRAMMY Awardwinning band Maroon 5 writing

and recording an original song in just 24 hours. The

event used the realtime speed, global impact and

social power o the Internet to create a rstoits

kind experience. Other activations included a digital

application where teens could upload ootage to the

music video or breakthrough band One Night Onlys

global anthem and share it with riends, and the

chance to collaborate with Billboard Music Award

winner Taio Cruz on a song he perormed during

the season nale oAmerican Idol.

REREShINg

OuR APPROAChTO CONSumER

ENgAgEmENT

We teae wit seeralinfential asion labels

an retailers, inclindolce & gabbana, to

lanc license

Coca-Cola collections incoeoration o or125t anniersary.

Photo Courtesy o Dolce & Gabbana

Marketer

o the Yearaccorin toAd Age, wicsalte or arketin ecellence,leacy o innoation an stronbsiness reslts in 2011.



23/38

Social media continues to be an increasingly vital

component o our marketing mix. Our ansrst

social media strategy ocuses on cocreating and

curating content by participating with our consumers

to spark conversations in these communities.

In 2011, we garnered more than 1.4 billion impressions

on Facebook and YouTube across all participating

brands, almost double the impressions rom 2010.

In addition to consumer impressions, we are

increasingly tracking consumer expressions, which

we dene as engagement with our brand content

rom comments, shares and likes to uploaded

photos or videos. Fans o our brands produced

5 million expressions on Facebook, YouTube and

Twitter, a 139 percent increase compared to 2010.

Another 2011 highlight was the expansion o the

global Where Will Happiness Strike Next? project.

CocaCola teams in more than 40 markets have

produced more than 100 lms and brand

experiences centered on surprising moments o

authentic happiness. To date, the program has

generated more than 285 million online and ofine

impressions globally and inspired a series o

experiential Happiness Truck activations worldwide.

CocaColaremains theNo. 1 consumerproduct an

page onFacebook.

Fast Companyreconize Te Coca-Cola Copany

aon te worls ost innoatie copanies, citin

or teen-ocse Coca-Cola msic arketin plator.



24/38

We annonce a partnersip

wit uN Woen in spport

o or lobal 5 BY 20 initiatie

to epower 5 illion woen

entrepreners across or

bsiness syste by 2020.

Sstainability at Te Coca-Cola Copany is

abot ore tan oin oo. It is good business

and a core tenet o our 2020 Vision. We believe that

as we become a bigger company, we also must

become a more sustainable and responsible enterprise

by protecting and preserving the natural and humanresources our business relies on. By doing so, we

will continue to earn a social license to operate.

During times o uncertainty, consumers are thirsty

or brands like CocaCola that inspire moments

o optimism and happiness, and they are willing

to reward those companies that create value and

make a positive dierence in the world.

Our sustainability eorts reduce our environmental

ootprint; promote active healthy living; create a

sae, inclusive work environment or our associates;

and support the economic development o the

communities where we operate.

Our LIVE POSITIVELY ramework ocuses on our

critical areas where we are best equipped to make

a positive dierenceand that directly impact our

business: water stewardship, sustainable packaging,

climate protection and community. We are making

progress toward our goals in each o these areas.

Read more about our progress in our2010/2011

Sustainability Report.

Te Coca-Cola onation awars rants to oranizations

aron te worl wit a ocs on actie ealty liin, water

stewarsip, recyclin an ecation.



25/38

We iproe or water

se eciency in 2010 or

te eit consectie

year an in 2011

replenise an estiate

35% o water se in or

procts as we work

towar or oal o waternetrality in or operations

by 2020.

In 2011, we took an important step by creating a

global Oce o Sustainability. This new team

led by the Chie Sustainability Ocerwill better

integrate the many successul projects we have

launched around the world and accelerate our

global sustainability agenda in support o our2020 Vision. Recognizing the power o strength

in numbers, we also continue to partner with

governments, NGOs, civil society organizations

and other private sector leaders. By coming

together and leveraging our collective strengths,

resources and expertise, we believe we can

drive lasting change that benets everyone.

For example, we partner with the Bill & MelindaGates Foundation to support mango and passion

ruit armers in Kenya and Uganda and boost local

juice production, and to share our extensive supply

chain expertise with the Tanzania Ministry o Health

to improve access to critical medicines; and we

continue to work with Greenpeace and others to

develop and scale hydrofuorocarbon (HFC)ree

cooling equipment.

2010/2011 SuSTAINABILITY REPORTScan the QR Code with a mobile device or visit

susta inability.th ecoca-colacompany.com.

Learn more in our

aware to 263 conityoranizations worlwie in 2011 tro

Te Coca-Cola onation, or priaryinternational pilantropic ar.

$70+ million

REREShINgThE COmmuNITIESWE SERvE

http://www.sustainability.thecoca-colacompany.com/http://www.sustainability.thecoca-colacompany.com/


26/38

2011 WORLdWIdE uNIT CASE vOLumE

gEOgRAPhIC mIx

16%Erasia & Arica

15%Erope

18%Pacic

22%Nort Aerica

29%Latin Aerica

2011 OPERATINg gROuP hIghLIghTS

uNIT CASE vOLumE gROWThALL

BEVERAGESSPARKLINGBEVERAGES

STILLBEVERAGES

2011 vs. 2010Growth

5Year CompoundAnnual Growth

2011 vs. 2010Growth

2011 vs. 2010Growth

Eurasia & Arica 6% 8% 5% 13%

Europe 2% 2% 2% 2%

Latin America 6% 7% 4% 15%

North America 4% 1 0% 3%2 4%

Pacic 5% 7% 4% 8%

Worlwie 5%3 4% 4%4 8%

26.7 BillionUnit CasesWorldwide

1 1% excluding the benet o new crosslicensed brands associated with the acquisition o CCEs North American business

2 (1%) excluding the benet o new crosslicensed brands associated with the acquisition o CCEs North American business3 4% excluding the benet o new crosslicensed brands associated with the acquisition o CCEs North American business4 3% excluding the benet o new crosslicensed brands associated with the acquisition o CCEs North American business



27/38

Erasia & AricaThe Eurasia & Arica Group grew unit case volume 6 percent,

underscoring progress against the goal o strategically investing

or tomorrow while gaining share today. India delivered double

digit growth or the th consecutive year. Brand CocaColastayed strong, and still beverages beneted rom growth across

our juice and juice drink portolio, including Maaza. In Russia,

brand CocaCola again delivered doubledigit growth in 2011,

and we continued to outperorm the industry and gained share in

sparkling beverages. In Turkey, we delivered doubledigit volume

growth or the second consecutive year. Despite geopolitical

challenges in the Middle East and North Arica, we delivered

strong perormance. We continue to invest in this region, as

evidenced by our agreement to acquire approximately

50 percent o the equity o Aujan Industries. This partnership,

coupled with our strong bottling partners, will make our system

a leader in the regions astgrowing still beverage category.

EropeThe Europe Group overcame an uncertain economic environment

to deliver 4 percent operating income growth and 2 percent unit

case volume growth. The 125th anniversary o CocaCola was

activated with passion and creativity, driving brand love on a

massive scale. Other marketing highlights included Coke &

Meals, driving sales with imaginative partnerships and cross

promotions. We scored with summer music campaigns and built

momentum or UEFA EURO 2012 and the London 2012 OlympicGames. A key strategic success was strengthening ties with

bottling partners and driving growth with key customers. We

spent more time in the marketplace, using the insights to act with

greater fexibility and get closer to consumers with an adapted

brand, package and price architecture.

A. Middle East & North AricaB. Central, East & West AricaC. IndiaD. TurkeyE. South AricaF. RussiaG. Other

29%19%14%13%12%10%3%

A

B

C

d

E

g

2011 uNIT CASE vOLumE mIxBY gEOgRAPhY

2011 uNIT CASE vOLumE mIx

BY gEOgRAPhY

A. Eastern EuropeB. GermanyC. SpainD. Great BritainE. FranceF. ItalyG. Other

18%16%14%13%10%9%

20%

A

B

Cd

E

g



28/38

Latin AericaOur unit case volume growth o 6 percent in the Latin America

Group led to volume and value share gains in total NARTD

beverages. This perormance made Latin America the largest

operating group in terms o unit case volume or the thconsecutive year. We attribute much o this growth to clear

occasionbased, brand, package, price and channel strategies

across beverage categories. The business also beneted rom

strong integrated marketing campaigns across beverage

categories, as well as a successul holiday campaign and

connection with consumers through inspirational cultural

messages. Latin America gained volume and value share in

both sparkling and still beverages. Sparkling beverages grew

4 percent driven by continued growth o brand CocaCola,

and still beverages grew 15 percent.

Nort AericaOur fagship market is ocused on building strong brands,

translating brand value into customer value and strengthening

system capabilities to sustain and repeat success. We delivered

solid results in a challenging environment, including 1 percent

organic volume growth, as we continued our integration eorts

ollowing the largest acquisition in our Companys history, creating

synergy savings to reinvest in our brands and capabilities. Strong

consumer and customer programs included CocaCola ArcticHome, which generated more than 1.3 billion consumer

impressions, and continued successul marketing partnerships

between brand CocaCola and NASCAR, Diet Coke and The

Heart Truth campaign, and CocaCola Zero, Powerade and

the National Collegiate Athletic Association (NCAA). Eective

execution o our occasionbased, brand, package, price and

channel strategies delivered volume and value share gains across

beverage categories. CocaCola Zero achieved its th consecutive

year o doubledigit volume growth, and Powerade, Dasani,

Gold Peak and Seagrams all grew double digits.

A. MexicoB. Brazil

C. South LatinD. Latin Center

44%25%

18%13%

A

B

C

d

A. United StatesB. Canada

94%6%

A

B


BY gEOgRAPhY


BY gEOgRAPhY



29/38

PacicThe Pacic Group delivered 5 percent unit case volume growth. In

Japan, the strength and resilience o our systems people, brands

and programs enabled us to rapidly regain momentum ater the

March 2011 earthquake and tsunami and deliver another year ovolume growth. In China, our unit case volume grew 13 percent,

making this nine o the last 10 years the business has delivered

doubledigit growth. Our core brandsCocaCola, Sprite, Fanta

and Minute Maid Pulpyall delivered doubledigit growth or the

year in China. Following a strong 2010, our volume in the other

territories o the Pacic Group showed mixed perormance in

2011, aected by macroeconomic headwinds in some countries.

Importantly, the Pacic Group gained share in sparkling

beverages, juices and juice drinks, and water.

Bottlin InestentsIn 2011, we continued to execute the strategies o the Bottling Investments Group.

Our core ocus on topline growth and aggressive cost management, combined with

marketplace execution, operational excellence and productivity, generated strong

perormance. We grew unit case volume 4 percent on a comparable basis ater

adjusting or the impact o the sale o our Norway and Sweden bottling operations.

However, on a reported basis unit case volume was even with the prior year. We

continued to ocus on prudent capital planning to ensure we have the capacity to

meet sales growth. Our ocus on improving environmental metrics has resulted insignicant positive changes, especially in energy and water usage. In addition, we

opened more than 335,000 new outlets, placed an incremental 205,000 new coolers

and continued building market segmentation capabilities to ensure consumers

continue to have access to our brands or all occasions, in the right packages, at the

right price. We remained ocused on the implementation oCoke One, our endtoend

bottler operating system that enables the development o standard tools, data and

systems geared toward enhancing sales orce eectiveness.

A. ChinaB. Japan

C. PhilippinesD. AustraliaE. ThailandF. Other

44%20%

11%6%6%

13%

A

B

C

d

E


BY gEOgRAPhY

Ayatakat

eafrom

Japan


BuSINESS PROILE


30/38

The CocaCola Company is the worlds largest beverage company.We own or license and market more than 500 nonalcoholic beveragebrands, primarily sparkling beverages but also a variety o stillbeverages such as waters, enhanced waters, juices and juice drinks,readytodrink teas and coees, and energy and sports drinks. Weown and market our o the worlds top ve nonalcoholic sparkling

beverage brands: CocaCola, Diet Coke, Fanta and Sprite. Finishedbeverage products bearing our trademarks, sold in the United Statessince 1886, are now sold in more than 200 countries.

We are a global business that operates on a local scale in every

community where we do business. We are able to create global

reach with local resources because o the strength o the CocaCola

system, which comprises our Company and our bottling partners

nearly 275 worldwide.

Our Company sources ingredients; manuactures and sells

concentrates, beverage bases and syrups to our bottling

operations; owns the brands; and is responsible or consumerbrand marketing initiatives. Our bottling partners and some

Company operations manuacture, package, merchandise and

distribute the nished branded beverages to our customers and

vending partners, who then sell our products to consumers.

Our bottling partners work closely with customersgrocery stores,

restaurants, street vendors, convenience stores, movie theaters and

amusement parks, among many othersto execute localized

strategies developed in partnership with our Company. Through

eective collaboration, we are able to sell our products to

consumers at a rate o more than 1.7 billion servings a day.

The CocaCola system is not a single entity rom a legal or

managerial perspective, and the Company does not own or control

most o our bottling partners. In October 2010, we acquired the

North American operations o CocaCola Enterprises Inc. (CCE) andsold our Companys Norway and Sweden bottling operations to a

new entity, CocaCola Enterprises, Inc. (New CCE). The Company

does not have any ownership interest in New CCE. We believe this

acquisition will result in an evolved ranchise system that will enable

us to better serve the unique needs o the North American market.

The creation o a unied operating system will strategically position

us to readily market and distribute our products in North America.

ThE COCA-COLA SYSTEm

BuSINESS PROILE


ThE COCA-COLA COmPANY


31/38

ThE COCA-COLA COmPANY

COmPANY EquITY STAKE IN BOTTLINg PARTNERS

Coca-Cola EmSA, S.A.B. e C.v.(CocaCola FEMSA)

CocaCola FEMSA is the largestindependent CocaCola bottler in the

world. CocaCola FEMSA operates inMexico and also in eight countries in

Central America and South America.

Percent o Companys 2011 WorldwideUnit Case Volume

11%

Our Ownership Interest as oDecember 31, 2011

29%

Coca-Cola hellenic BottlinCopany S.A.

(CocaCola Hellenic)

CocaCola Hellenic is the secondlargestindependent CocaCola bottler,

operating in 27 countries in Europe andin Nigeriaserving a population oapproximately 560 million people.

Percent o Companys 2011 WorldwideUnit Case Volume

8%

Our Ownership Interest as oDecember 31, 2011

23%

Coca-Cola Aatil Liite(CocaCola Amatil)

CocaCola Amatil is one o the largest

independent CocaCola bottlers inthe Pacic region, with operations in

Australia, Fiji, Indonesia, New Zealandand Papua New Guinea.

Percent o Companys 2011 Worldwide

Unit Case Volume

2%

Our Ownership Interest as o

December 31, 2011

29%

global Workorce 146,2001

North America 3,900CocaCola Rereshments 69,600

Latin America 2,200Bottling Investments 10,400

Europe 2,600Bottling Investments 11,300

Eurasia & Arica 2,400Bottling Investments 9,900

Pacic 2,500Bottling Investments 31,400

1 Corporate associates are included in the

geographic area in which they work. Bottling

Investments is an operating group with

associates located in our o our geographic

operating groups. Numbers are

approximate and as o December 31, 2011.


mANAgEmENT


32/38


OPERATIONS

EURASIA & AFRICA GROUP

Ahmet C. Bozer 1President

Central, East and West Arica:Nathan Kalumbu

India and South West Asia:Atul Singh

Middle East and North Arica:Curtis A. Ferguson

Russia, Ukraine and Belarus:Zoran A. Vucinic

South Arica: Therese Gearhart

Turkey, Caucasus and Central Asia:Galya Frayman Molinas

EUROPE GROUP

Dominique Reiniche1

President

Central and Southern Europe:Nikos Koumettis

Germany: Hendrik Steckhan

Iberia: Marcos de Quinto

Northwest Europe and Nordics:James R. Quincey

LATIN AMERICA GROUP

Jos Octavio Reyes 1President

Brazil: Xiemar Zaraza

Latin Center: John Murphy

Mexico: Brian J. Smith

South Latin: Francisco Crespo

PACIFIC GROUP

Glenn G. Jordan S.1President

Greater China and Korea:David G. Brooks

Japan: Dan Sayre

South Pacifc: Bruno Filipi

ASEAN2: Manuel Arroyo

COCACOLA NORTH AMERICA

J. Alexander M. Douglas, Jr.1President

Canada: Nicola Kettlitz

Sparkling Beverages:Katherine J. Bayne

Still Beverages: Brian E. Wynne

Venturing and Emerging Brands:Deryck J. van Rensburg

COCACOLA REFRESHMENTS

Steve Cahillane1

President and Chie Executive Ocer

Canada: John Guarino

Commercial Leadership:

Julie M. Francis

Foodservice and On-Premise:Chris Lowe

National Retail Sales:Mel F. Landis III

Product Supply System:Brian P. Kelley

Region Sales: Glen Walter

BOTTLING INVESTMENTS GROUP

Irial Finan1President

China, Malaysia and Singapore:Martin Jansen

Germany: Ulrik Nehammer

India: T. Krishnakumar

Latin America and Japan:Paul Mulligan

Russia, Middle East and Arica:Kevin Warren

Philippines: William Schultz

mANAgEmENT(AS O APRIL 1, 2012)

1 Person subject to the reporting requirements o Section 16 o the Securities Exchange Act o 1934, as amended2 Association o Southeast Asian Nations


33/38


SENIOR LEAdERShIP

Muhtar Kent 1

Chairman o the Board o Directorsand Chie Executive Ocer

Harry L. Anderson1

Senior Vice President, Global Businessand Technology Services

Ahmet C. Bozer 1

President, Eurasia & Arica Group

Steven A. Cahillane1

President and Chie Executive Ocer,CocaCola Rereshments

Alexander B. Cummings, Jr.1

Executive Vice President and

Chie Administrative Ocer

J. Alexander M. Douglas, Jr.1

President, North America Group

Ceree Eberly 1

Senior Vice President and

Chie People Ocer

Gary P. Fayard 1


Chie Financial Ocer

Irial Finan1


President, Bottling Investmentsand Supply Chain

Bernhard Goepelt 1

Senior Vice President, GeneralCounsel and Chie Legal Counsel

Glenn G. Jordan S.1

President, Pacic Group

Dominique Reiniche1

President, Europe Group

Jos Octavio Reyes1

President, Latin America Group

Ingrid Saunders JonesSenior Vice President, Global

Community Connections

Joseph V. Tripodi 1

Executive Vice President and Chie

Marketing and Commercial Ocer

Clyde C. Tuggle1

Senior Vice President, Chie PublicAairs and Communications Ocer

Jerry S. Wilson1

Senior Vice President and ChieCustomer and Commercial Ocer

Guy Wollaert 1

Senior Vice President andChie Technical Ocer

vICE PRESIdENTS

Rudy M. Beserra, Latin Aairs

John M. Farrell, Chie Strategy Ocer

Rick Frazier, Commercial Product

Supply

Javier Goizueta, President,McDonalds Division

William D. Hawkins III, General

Tax Counsel

Eddie R. Hays, Science

James A. Hush, Strategic Securityand Aviation

R. Jackson Kelly, Investor Relations

Ocer

Connie D. McDaniel, Chie o Internal

Audit

Christopher P. Nolan, Corporate

Treasurer

Carletta Ooton, Chie Quality andProduct Integrity Ocer

Bea Perez, Chie Sustainability Ocer

Nancy Quan, Global Research andDevelopment (R&D) Ocer

Marie D. QuinteroJohnson, Director,Mergers and Acquisitions

Mary M.G. Riddle, Flavor Ingredient

Supply

Ed Steinike, Chie Inormation Ocer

Ann T. Taylor, Global Business Services

Kathy N. Waller,1Controller

Gloria K. Bowden, Corporate Secretary

and Associate General Counsel

Fiona K. Lynch, AssistantCorporate Secretary

1 Person subject to the reporting requirements o Section 16 o the Securities Exchange Act o 1934, as amended

BOARd O dIRECTORS


34/38

Photographed at the Vault o the Secret Formula exhibit, the World o CocaCola, Atlanta.


From let to right

Sam Nunn 5, 7

CoChairman and Chie Executive

Ocer, Nuclear Threat Initiative

Alexis M. Herman 3, 7

Chair and Chie Executive Ocer,

New Ventures LLC

Jacob Wallenberg 2, 7

Chairman o the Board, Investor AB

Evan G. Greenberg1

Chairman, President and Chie

Executive Ocer, ACE Limited

Peter V. Ueberroth 1, 5

Investor and Chairman, Contrarian

Group, Inc.; NonExecutiveCoChairman, Pebble Beach

Company

James D. Robinson III 2, 3, 6

CoFounder and General Partner,

RRE Ventures; President,JD Robinson, Inc.

Barry Diller 2, 5, 6

Chairman o the Board and Senior

Executive, IAC/InterActiveCorp,

Expedia, Inc. and TripAdvisor, Inc.

Muhtar Kent 4

Chairman o the Board andChie Executive Ocer,

The CocaCola Company

Donald F. McHenry1, 2, 7

Distinguished Proessor in the

Practice o Diplomacy andInternational Aairs, School o Foreign

Service, Georgetown University

Maria Elena Lagomasino 2, 3

Chie Executive Ocer, GenSpring

Family Oces, LLC

Howard G. Buett 7

President, Buett Farms and Howard

G. Buett Foundation

Herbert A. Allen 4, 5, 6

President, Chie Executive Ocerand Director, Allen & Company

Incorporated

Ronald W. Allen 1, 3

President, Chie Executive Ocer

and Director, Aarons Inc.; FormerChairman o the Board, President

and Chie Executive Ocer, Delta

Air Lines, Inc.

James B. Williams 1, 4, 5, 6

Former Chairman o the Board

and Chie Executive Ocer,SunTrust Banks, Inc.

Donald R. Keough 6, 7

NonExecutive Chairman o the Board,Allen & Company Incorporated and

Allen & Company LLC

Richard M. Daley 2

Managing Principal, Tur Partners LLC;

O Counsel, Katten MuchinRosenman LLP

Robert A. Kotick 6

President, Chie Executive Ocer andDirector, Activision Blizzard, Inc.

1 Audit Committee

2 Committee on Directors andCorporate Governance

3 Compensation Committee

4 Executive Committee

5 Finance Committee

6 Management DevelopmentCommittee

7 Public Issues and Diversity

Review Committee

Shareowner InformatIon


35/38


Board o DirectorsOur Board o Directors is elected by

the shareowners to oversee their

interest in the long-term health and

overall success o the Company and

its nancial strength. The Board serves

as the ultimate decision-making body

o the Company, except or those

matters reserved to or shared with

the shareowners. The Board selects

and oversees members o senior

management, who are charged bythe Board with conducting the

business o the Company. The Board

currently has 17 Directors, 16 o whom

are not employees o the Company.

For more inormation on our Board,

visit our Company website at www

.governance.thecoca-colacompany.com.

Common Stock

The Coca-Cola Company common

stock is listed on the New York StockExchange, traded under the ticker

symbol KO. The Company has been

one o the 30 companies in the Dow

Jones Industrial Average since 1987.

As o December 31, 2011, there were

approximately 2.3 billion shares

outstanding and 252,197 shareowners

o record.

Dividends

At its February 2012 meeting, the

Board o Directors increased our

quarterly dividend 8.5 percent to $0.51

per share, equivalent to an annual

dividend o $2.04 per share. The

Company has increased dividends in

each o the last 50 years. Dividends

are normally paid our times a year,

usually on April 1, July 1, October 1 and

December 15. The Company has paid

363 consecutive dividends, beginning

in 1920.

Direct Stock Purchase andDividend Reinvestment

Computershare Trust Company, N.A.,

sponsors and administers a direct

stock purchase and dividend

reinvestment plan or common stock

o The Coca-Cola Company. The

Computershare Investment Plan

allows investors to directly purchase

and sell shares o Company common

stock and reinvest dividends.

To request plan materials or learn

more about the Computershare

Investment Plan, you may contact

Computershare, the plan

administrator, through the mail, by

phone or via the Internetsee below.

Shareowner Account Assistance

For inormation and maintenance on

your shareowner o record account,

please contact:

Computershare Investor Services

P.O. Box 43078

Providence, RI 02940-3078

Telephone: (888) COKE-SHR

(265-3747) or (781) 575-2879

Hearing Impaired: (800) 490-1493

Fax: (781) 575-3605

Email: [email protected]

Internet: www.computershare.com/

coca-cola.

Shareowner Internet Account Access

For account access via the Internet,

please log on to www.computershare

.com/investor.

Once registered, shareowners can

view account history and complete

transactions online.

Electronic DeliveryI you are a shareowner o record,

you have an opportunity to help the

environment by signing up to receive

your shareowner communications,

including annual reports, proxy

materials, account statements

and tax orms, electronically.

Register your email address at

www.eTree.com/coca-colaand

complete the online orm. As a thank

you, the Company will have a treeplanted on your behal through

American Forests.

Corporate Oces

The Coca-Cola Company

One Coca-Cola Plaza

Atlanta, Georgia 30313

(404) 676-2121

Inormation Resources

Internet: Our website,

www.thecoca-colacompany.com,oers inormation about our

nancial perormance and news

about the Company, our heritage,

brand experiences and much more.

Publications: The CompanysAnnual

Report on Form 10-K, Proxy Statement,

Annual Review, Quarterly Reports on

Form 10-Q and other publications

covering our sustainability policies

and initiatives are available reeo charge upon request rom our

Industry and Consumer Aairs

Department at (800) 438-2653.

They also can be accessed at

www.thecoca-colacompany.com.

Interested in joining the Coca-ColaCivic Action Network?

You have a stake in the success o

The Coca-Cola Company and its

system, and the Coca-Cola Civic

Action Network (CAN) is a powerul

way to be inormed, involved and

infuential. Coca-Cola CAN is a

nonpartisan grassroots network o

citizens and businesses. Its purpose

is to educate stakeholders about

national, state and local issuesaecting our industry.

Membership is voluntary, and you will

never be asked to make a nancial

contribution. To register, email us at

[email protected]

or visit our website at

www.civicactionnetwork.com.

For more inormation, please visit

our website at

www.thecoca-colacompany.com/investors/shareowners.html.

Interested in learning more about

our sustainability initiatives?

I you are interested in learning

more about our sustainability

strategy and progress, please

visit the Sustainability section

o our website at www.sustainability

.thecoca-colacompany.com.

ORWARd-LOOKINg STATEmENTS, ENvIRONmENTAL STATEmENT,

EquAL OPPORTuNITY POLICY ANd SCOPE O ThE ANNuAL REvIEW
http://www.governance.thecoca-colacompany.com/http://www.governance.thecoca-colacompany.com/http://www.computershare.com/coca-colahttp://www.computershare.com/coca-colahttp://www.computershare.com/investorhttp://www.computershare.com/investorhttp://www.thecoca-colacompany.com/investors/shareowners.htmlhttp://www.thecoca-colacompany.com/investors/shareowners.htmlhttp://www.sustainability.thecoca-colacompany.com/http://www.sustainability.thecoca-colacompany.com/http://www.sustainability.thecoca-colacompany.com/http://www.sustainability.thecoca-colacompany.com/http://www.thecoca-colacompany.com/investors/shareowners.htmlhttp://www.thecoca-colacompany.com/investors/shareowners.htmlhttp://www.computershare.com/investorhttp://www.computershare.com/investorhttp://www.computershare.com/coca-colahttp://www.computershare.com/coca-colahttp://www.governance.thecoca-colacompany.com/http://www.governance.thecoca-colacompany.com/


36/38

ForwardLooking StatementsThis report may contain statements, estimates or projections that constitute orwardlookingstatements as dened under U.S. ederal securities laws. Generally, the words believe, expect,intend, estimate, anticipate, project, will and similar expressions identiy orwardlooking statements, which generally are not historical in nature. Forwardlooking statements aresubject to certain risks and uncertainties that could cause actual results to dier materially romThe CocaCola Companys historical experience and our present expectations or projections.These risks include, but are not limited to, obesity and other health concerns; scarcity and qualityo water; changes in the nonalcoholic beverage business environment and retail trends; ourability to realize a signicant portion o the anticipated benets o the acquisition o CocaColaEnterprises Inc.s North American business (the CCE Acquisition); our increased level oindebtedness as a result o the CCE Acquisition; our pension expense increase as a result o theCCE Acquisition; continuing uncertainty in the credit and equity markets; increased competition;our ability to expand our operations in developing and emerging markets; oreign currency

exchange rate fuctuations; increases in interest rates; our ability to maintain good relationshipswith our bottling partners; the nancial condition o our bottling partners; increases in incometax rates or changes in income tax laws; increases in or new indirect taxes; our ability to renewcollective bargaining agreements on satisactory terms and our bottling partners ability to avoidstrikes, work stoppages or labor unrest; increase in the cost, disruption o supply or shortage oenergy; increase in the cost, disruption o supply or shortage o ingredients, other raw materialsor packaging materials; changes in laws and regulations relating to beverage containers andpackaging; adoption o signicant additional labeling or warning requirements; unavorablegeneral economic conditions in the United States or in other major markets; unavorable economicand political conditions in international markets; litigation uncertainties; adverse weatherconditions; product saety or quality issues or negative publicity that may damage our brandimage and corporate reputation; changes in, or ailure to comply with, the laws and regulationsapplicable to our products or our business operations; changes in accounting standards; ourability to achieve overall longterm goals; our ability to realize signicant benets rom ourproductivity and reinvestment program; our ability to protect our inormation systems; additionalimpairment charges; our ability to successully manage Companyowned or controlled bottlingoperations; the impact o climate change on our business; global or regional catastrophic events;and other risks discussed in our Companys lings with the Securities and Exchange Commission(SEC), including ourAnnual Report on Form 10-K, which lings are available rom the SEC. You shouldnot place undue reliance on orwardlooking statements, which speak only as o the date theyare made. The CocaCola Company undertakes no obligation to publicly update or revise anyorwardlooking statements.

Environmental Statement

A healthy environment, locally and globally, is vital to our business and to the communities wherewe operate. We view protection o the environment as a journey, not a destination. We began thatjourney a number o years ago, and it continues today. Each employee o The CocaCola Companyhas responsibility or stewardship o our natural resources and must strive to conduct business inways that protect and preserve the environment. Our employees, business partners, suppliers and

consumers must all work together to continuously nd innovative ways to oster the ecient useo natural resources, the prevention o waste and the sound management o water. Doing so notonly benets the environment, it makes good business sense.

Equal Opportunity PolicyThe CocaCola Company values all employees and the contributions they make. Consistentwith this value, the Company rearms its longstanding commitment to equal opportunityand armative action in employment, which are integral parts o our corporate environment.The Company strives to create an inclusive work environment ree o discrimination andphysical or verbal harassment with respect to race, sex, color, national origin, religion, age,disability, sexual orientation, gender identity and/or expression, genetic inormation orveteran status. We will make reasonable accommodations in the employment o qualiedindividuals with disabilities, or religious belies and whenever else appropriate.

The Company maintains equal employment opportunity unctions to ensure adherence to alllaws and regulations, and to Company policy in the areas o equal employment opportunityand armative action. All managers are expected to implement and enorce the Companypolicy o nondiscrimination, equal employment opportunity and armative action, as wellas to prevent acts o harassment within their assigned area o responsibility. Further, it is parto every individuals responsibility to maintain a work environment that refects the spirit oequal opportunity and prohibits harassment.

Scope o the Annual Review

Except as otherwise noted, this Annual Review covers the 2011 perormance oThe CocaCola Company and the CocaCola system (our Company and our bottlingpartners), as applicable. Thereore, reerences to currently, to date or similar expressionsrefect inormation as o December 31, 2011. Certain inormation in the Annual Reviewregarding the Company and the CocaCola system comes rom thirdparty sources andoperations outside o our control. We believe such inormation has been accurately collectedand reported, and that the underlying methodology is sound.

EquAL OPPORTuNITY POLICY ANd SCOPE O ThE ANNuAL REvIEW

EarthColor Inc. printed this report using 100 percent renewable wind power and ollowingsustainable manuacturing principles, including socially responsible procurement, leanmanuacturing, green chemistry principles and the recycling o residual materials, aswell as reduced volatile organic compound (VOC) inks and coatings. In addition, carbonand VOC reduction strategies were employed to destroy residual VOCs via biooxidation.Osets were purchased where carbon could not be eliminated to render this reportcarbonmanaged and climatebalanced.

The environmental impact o this report was a main consideration rom the inception othe project, which is the result o a collaborative eort o The CocaCola Company andits supply chain partners with the highest regard or the planet and its ecosystems. Carewas taken to use environmentally sustainable products and to ollow socially responsiblemanuacturing processes to ensure a minimized environmental impact.

This report is printed on Mohawk Options PC 100, which is manuactured using 100 percent

renewable wind energy, composed o 100 percent recycled content and FSC certied towellmanaged orestry standards.

Environmental impact estimated savings related to this report:

0.24 acres preserved via sustainable orestry;196 trees preserved or the uture

137 million BTUs energy not consumed

42,341 pounds net greenhouse gases prevented

71,445 gallons water saved

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PEOPLEBe a great place to work.

PARTNERSBe the most preerred and

trusted beverage partner.

PROITMore than double system

revenues while increasing

system margins.

We see a world lled with opportunities that range romdoubling our system revenues by 2020, to developing

new beverage products that meet consumers evolving

preerences and needs, to making a positive dierence

in the communities in which we operate. Our 2020 Vision

is the roadmap or converting these longterm aspirations

into reality. It provides business goals that outline what

we need to accomplish together with our global bottling

partners, customers and consumers in order to achievesustainable, measurable growth.

PORTOLIOMore than double our servings to over3 billion a day and be No. 1 in the NARTDbeverage business in every market and

every category that is o value to us.

PLANETBe a global leader in sustainablewater use, packaging, energy and

climate protection.

PROduCTIvITYManage people, time and moneyor greatest eectiveness.

OuR 2020 vISION gOALS hELP guIdE uS TO AChIEvE SuCCESSThROughOuT ThE COCA-COLA SYSTEm:



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2011 Year in review OnlineScan the QR Code with a mobile device or visit

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