THE COCA-COLA COMPANY AND SUBSIDIARIES

Comparative Statements of Financial Position

December 31, 2021 and 2022
(in millions except par value)

Increase/Decrease
2021 2021 Amount Percentage .00 rounded off
Assets
Current Assets
Cash and Cash equivalents $ 9,519 $ 9,684 -$165.00 #NAME? #NAME?
Short term investing 1,043 1,242 -199 #NAME? #NAME?
Total Cash, Cash Equivalents
and Short Term Investing 10,562 10,926 -364 #NAME? #NAME?
Marketable Securities 1,069 1,699 -630 #NAME? #NAME?
Trafe Accounts Receivables,
less allowance and $516 and
$516 respectively 3,487 3,512 -25 #NAME? #NAME?
Inventories 4,233 3,414 819 #NAME? #NAME?
Prepaid expenses and other
Current Assets 3,240 2,994 246 #NAME? #NAME?
Total Current Assets 22,591 22,545 46 #NAME? #NAME?
Non-current Assets
Equity method investments 18,264 17,598 $ 666 #NAME? #NAME?
Other investments 501 818 -317 #NAME? #NAME?
Other non current assets 6,189 6,731 -542 #NAME? #NAME?
Deferred income tax assets 1,746 2,129 -383 #NAME? #NAME?
Property, Plant and
Equipment - net 9,841 9,920 -79 #NAME? #NAME?
Trademark with indefinite
lives 14,214 14,465 -251 #NAME? #NAME?
Good will 18,782 19,363 -581 #NAME? #NAME?
Other intangible assets 635 785 -150 #NAME? #NAME?
Total Assets $ 92,763 $ 94,354 -1591 #NAME? #NAME?

Liabilities and Equity

Current Liabilities
Accounts Payable and
accrued expenses $ 15,749 $ 14,619 $ 1,130 #NAME? #NAME?
Loans and notes payable 2,373 3,307 -934 #NAME? #NAME?
Current maturities of long
term debt 399 1,338 -939 #NAME? #NAME?
Accrued income taxes 1,203 686 517 #NAME? #NAME?
Total Current Liabilities 19,724 19,950 -226 #NAME? #NAME?
Non-Current Liabilities
Long term debt 36,377 38,116 -1,739 #NAME? #NAME?
Other non-current liabilities 7,922 8,607 -685 #NAME? #NAME?
 Deferred income tax
liabilities 2,914 2,821 93 #NAME? #NAME?
The Coca-Cola Company
Shareowners' Equity
Common stock, $0.25 par
value; authorized - 11,200
shares; issued - 7,040 shares 1,760 1,760 0 #NAME? #NAME?
Capital Surplus 18,822 18,116 706 #NAME? #NAME?
Reinvested earnings 71,019 69,094 1925 #NAME? #NAME?
Accumulated other
comprehensive income (loss) -14,895 -14,330 -565 #NAME? #NAME?
Treasury stock, at cost -
2,712 and 2,715 shares,
respectively -52,601 -51,641 -960 #NAME? #NAME?
Equity Attributable to
Shareowners of The Coca-Cola
Company 24,105 22,999 1106 #NAME? #NAME?
Equity attributable to non
controlling interests 1,721 1,861 -140 #NAME? #NAME?
Total Equity 25,826 24,860 966 #NAME? #NAME?
Total Liabilities and Equity $ 92,763 $ 94,354 -1591 #NAME? #NAME?

THE COCA-COLA COMPANY AND SUBSIDIARIES

COMPARATIVE STATEMENT OF INCOME
December 31,2021 and 2022
(in millions except per share data

Increase/Decrease
2022 2021 Amount Percentage .00 rounded off
Net Operating Revenue $ 43,004 $ 38,655 $ 4,349 #NAME? #NAME?
Cost of good sold 18,000 15,357 2643 #NAME? #NAME?
Gross profit 25,004 23,298 1706 #NAME? #NAME?
Selling, general and
administrative expenses 12,880 12,144 736 #NAME? #NAME?
Other operating charges 1,215 846 369 #NAME? #NAME?
Operating income 10,909 10,308 601 #NAME? #NAME?
Interest income 449 276 173 #NAME? #NAME?
Interest expense 882 1,597 -715 #NAME? #NAME?
Equity income (loss) - net 1,473 1,438 35 #NAME? #NAME?
Other income (loss) - net -262 2,000 -2262 #NAME? #NAME?
Income Before Income Taxes 11,686 12,425 -739 #NAME? #NAME?
Income taxes 2,115 2,621 -506 #NAME? #NAME?
Consolidated Net Income 9,571 9,804 -233 #NAME? #NAME?
Less: Net income (loss)
attributable to noncontrolling
interests 29 33 -4 #NAME? #NAME?
Net Income Attributable to
Shareowners of The Coca-Cola
Company 9,542 9,771 -229 #NAME? #NAME?
Basic Net income Per Share¹ 2.2 2.26 -0.06 #NAME? #NAME?
Diluted Net Income Per Share¹ 2.19 2.5 -0.31 #NAME? #NAME?
Average Shares Outstanding 4,328 4,315 13 #NAME? #NAME?
Effect of dilitive securities 22 25 -3 #NAME? #NAME?
Average Shares Outstanding
Assuming Dillution $ 4,350 $ 4,340 10 #NAME? #NAME?

THE COCA-COLA COMPANY AND SUBSIDIARIES

Comparative Statements of Cash Flow
December 31,2021 and 2022
(in million)

Increase/Decrease
2022 2021 Amount Percentage .00 rounded off
Operating Activities
Consolidated net income $ 9,571 $ 9,804 $ -233 -0.0237658099 #NAME?
Depreciation and amortization 1,260 1,452 -192 -0.132231405 #NAME?
Stock-based compensation
expense 356 337 19 0.05637982196 #NAME?
Deferred income taxes -122 894 -1016 -1.1364653244 #NAME?
Equity (income) loss - net of
dividends -838 -615 -223 0.36260162602 #NAME?
Foreign currency adjustments 203 86 117 1.36046511628 #NAME?
Significant (gains) losses - net -129 -1,365 1236 -0.9054945055 #NAME?
Other operating charges 1,086 506 580 1.14624505929 #NAME?
Other items 236 201 35 0.17412935323 #NAME?
Net Change in operating assets
and liabilities -605 1,325 -1930 -1.4566037736 #NAME?
Net cash Provided by
Operating Activities $ 11,018 $ 12,625 -1607 -0.1272871287 #NAME?
Investing Activities
Purchases of investments $ -3,751 $ -6,030 $ 2,279 #NAME? #NAME?
Poceeds from disposal of
investments 4,771 7,059 -2288 #NAME? #NAME?
Acquisitions of business,
equity method investments
and non marketable securities -73 -4,766 4693 #NAME? #NAME?
Proceeds from disposal of
business, equity method
investments and non
marketable securities 458 2,180 -1722 #NAME? #NAME?
Purchases of Property,Plant
And Equipment -1,484 -1,367 -117 #NAME? #NAME?
Proceeds from disposal of
property,plant and equipment 75 108 -33 #NAME? #NAME?
Collateral (paid) received
associated with hedging
activities - net -1,465 _____ ____
Other investing activities 706 51 655 #NAME? #NAME?
Net cas Provided by the
Investing Activities $ -763.00 $ -2,765 2002 #NAME? #NAME?
Financing Activities
Issuances of debt $ 3,972 $ 13,094 $ -9,122 #NAME? #NAME?
Payments of debt -4,930 -12,866 7936 #NAME? #NAME?
Issuances of stock 837 702 135 #NAME? #NAME?
Purchases of stock for treasury -1,418 -111 -1307 #NAME? #NAME?
Dividends -7,616 -7,252 -364 #NAME? #NAME?
Other financing activities -1,095 -353 -742 #NAME? #NAME?
Net cash Provided by the
Financing Activities $ -10,250 $ -6,786 -3464 #NAME? #NAME?

Effect of Exchange Rate

Changes on Cash, Cash
Equivalents, Restricted Cash
and Restricted Cash
Equivalents -205 -159 -46 #NAME? #NAME?
Cash, Cash Equivalents,
Restricted Cash and Restricted
Cash Equivalents

Net increase (decrease) in

cash, cash equivalents,
restricted cash and restricted
cash equivalents during the
year -200 2,915 -3,115 #NAME? #NAME?

Cash, Cash Equivalents,

Restricted Cash and Restricted
Cash Equivalents at the
beginning of the year 10,025 7,110 2915 #NAME? #NAME?
Cash, Cash Equivalents,
Restricted Cash and Restricted
Cash Equivalents at the End of
the Year 9,825 10,025 -200 #NAME? #NAME?
Less: Restricted cash and
restricted cas equivalents at
end year 306 341 -35 #NAME? #NAME?
Cash and Cash Equivalents at
the End of the Year $ 9,519 $ 9,684 -165 #NAME? #NAME?
.00 rounded off
.00 rounded off
.00 rounded off
 Ratio Analysis 2022

Test Formula Solving Interpretation

LIQUIDITY/
SOLVENCY
TEST

Coca-Cola Company has the

ability to pay its currents
obligations using its current
asset, in 1 liability, the company
has 1.5 asset to meet and that is
1. Current Current Assets/Current a good indication that a company
Ratio Liabilities 22,591/19,724 = 1.5:1 has high solvency and liquidity

The company has not good status

when it comes to quick asset to
current liabilities, it has only 0.20
Quick Asset/Current 1,069+3,487/22,591 = quick asset on 1 current
2. Quick Ratio Liabilities 0.20:1 liabilities.

Current assets of the company

was only .24 of the total asset,
3. Current meaning company has more
Assets to Total Current Assets/Total numbers of non current asset
Assets Assests 22,591/92,763 = 0.24 than the current asset.
4. Each Cash and cash equivalents has
Current Asset C,CE = 9,519/22,591 = the higher proportion among
item to TCA Each CA item/TCA 0.42 current asset to total asset.
The company's short term
STI = 1,043/22,591 = investment has only .05
0.05 proportion on total asset.
The same with SMI, marketable
MS= 1,069/22,591 = securities has also .05 proportion
0.05 on total asset.
Trade Accounts Receivable
T A/R = 3,487/22,591 = has .15 part on the the total
0.15 asset.
Inventory of the Coca-Cola was
second to the current asset that
Inv. = 4,233/22,591 = has more proportion on total
0.19 asset.
Prepaid Expenses has .14 part on
Prep.Ex = 3,240/22,591 the total asset of the Coca-Cola
= 0.14 Company.
The Company has the ability to
meet its current obligations using
5. Cash Flow C,CE+MS+ Cash Flow 9,519+1,069+11,018/19, its cash and cash equivalents and
Liquidity Ratio from Op.Act/CL 724 = 12,087.48:1 other securities
 The coverage of curreñt liabilities
6. Defensive Current Liabilities/Cash was 2.07 on cash and cash
Interval Ratio and Cash Equivalents 19,724/9,519 = 2.07 equivalents.

ASSET
UTILIZATION
LIQUIDITY
RATIO
The company has the average of
1. Receivable Net Sales/Ave. 43,004/3,499.5 = 12.29 12.29 times that their receivables
Turnover Receivable times will be collected within the year.
2. Average
Collection 365 days/Receivable Every 29.70 days receivables will
Period Turnover 365/12.29 = 29.70 days be collected estimatedly.
3. Working
Capital Net Sales/Ave. Working 43,004/2,631 = 16.35 Net sales uses working capital
Turnover Capital times 16.35 times every year.
4. Current 18,000+882+2,115+12,8
Asset COGS+OPEX+Income 80+1,215/2,568= 13.67 13.67 times cogs and opex uses
Turnover tax+other expenses times current assets in a year.
5. Asset Net sales/Ave. Total 43,004/93,558.5 = 0.46 Assets was used .46 times in a
Turnover Assets times year on company's sales.
6. PPE Net sales/Ave. PPE 43,004/9,880.5 = 4.35 In order to generate revenue,
Turnover Assets times PPE was used 4.35 times.

DEBT
UTILIZATION
RATIO
Total In 1 capital provider by the
1. Debt to Liabilities/Owners' owner, creditor provided 2.59
Equity Ratio Equity 66,937/25,826 = 2.59:1 capital.

This implies that 0.39 owner's

equity in 1 liability. Owners'
equity is not in the good status
2. Equity to Owners' Equity/Total on meeting company's
Debt Ratio Liabilities 25,826/66,937 = 0.39:1 obligations.
Owners' Equity/Total 0.28 of the total assets are
3. Equity Ratio Assets 25,826/92,763= 0.28:1 coming from 1 owners' equity.
Total Liabilities/Total It means that .72 of firms assets
4. Debt Ratio Assets 66,937/92,763 = 0.72:1 is coming from the creditors.
5. Fixed Assets
to Total
Owners' In 1 owners' equity, 0.38 of that
Equity PPE/Owners' Equity 9,841/25,826 = 0.38:1 was used to acquire fixed àssets
It implies that Coca-Cola
6. Fixed Assets company does not over invested
to Total Assets PPE/Total Assets 9,841/92,763 = 0.11:1 on the fixed assets.
7. Fixed Assets
to Total Long- PPE/Long-term PPE extent .21 in meeting 1 long
term Liabilities liabilities 9,841/47,213 = 0.21:1 term obligation of the conpany.
Coca-Cola Company needs to use
8. Plant 43,004/9,880.5 = 4.53 4.53 times in order to generate
Turnover Net sales/Ave. PPE times sales.

PROFITABILITY
TEST
0.22 dollar are the income of
1. Net Profit 9571/43,004 = 0.22 Coca-Cola Company in 1 dollar
Ratio Net income/Net sales dollar sale.
2. Rate of
Return to
Total Assets Net income/Ave. total 0.10 of asset are used in
(ROA) assets 9,571/93,558.5 = 0.10 generated income.
3. Asset Net sales/Ave.total 43,004/93,558.5 = 0.46 The company is efficient in using
Turnover assets times their asset to generate revenue.
4. Gross Profit It shows that 0.58 of gross profit
Ratio Gross profit/Net sales 25,004/43,004 = 0.58:1 per dollar of sales revenue.
0.25 are used in sales revenue to
5. Operating Operating Income/Net cover the operating expenses of
Ratio sales 10,909/43,004 = 0.25:1 the company.
6. Rate of
Return on Net income/Ave. 9,571/22,568 = 0.42 0.42 dollar of asset was used in
Current Assets Current assets dollar order to generate net income.
7. Rate of
Return on Net
Working Net income/Ave. net 9,571/2,631 = 3.64 3.64 dollar of net working capital
Capital working capital dollar was used to generate revenue,
8. Rate of
Return on 0.38 dollar of invested capital
Owners’ Net income/Ave. 9,571/25,343 = 0.38 was used in order o generate
Equity Owners' Equity dollar revenue.