Coca Cola

1. Based on the information in the company's most recent annual report, determine each of the following:

a. What is the net cash flows from operating activities reported by the company at the end of the most recent year?

b. What is the net cash flows from investing activities reported by the company at the end of the most recent year?

c. What is the net cash flows from financing activities report by the company at the end of the most recent year?

d. What is the net increase (or decrease) in cash during the year?

2. Evaluate the company's cash inflows and outflows. Describe all of the inflows and outflows and evaluate the flows (For example, did the company purchase assets that benefited the company?).

COCA-COLA CONSOLIDATED, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

						Fiscal Year
(in thousands)						2020						2019						2018
Cash Flows from Operating Activities:
Net income (loss)						$	182,097					$	18,560					$	(15,156)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation expense from property, plant and equipment and financing or capital leases						155,936						156,886						164,502
Amortization of intangible assets and deferred proceeds, net						23,081						23,030						22,754
Fair value adjustment of acquisition related contingent consideration						31,210						92,788						28,767
Deferred income taxes						8,737						3,987						9,366
Impairment of property, plant and equipment						8,030						8,798						453
Loss on sale of property, plant and equipment						5,187						6,498						7,103
Amortization of debt costs						1,050						1,313						1,477
Stock compensation expense												2,045						5,606
Gain on exchange transactions																		(10,170)
Proceeds from Legacy Facilities Credit																		1,320
Change in current assets less current liabilities						55,607						(31,681)						(26,387)
Change in other noncurrent assets						21,820						15,201						4,347
Change in other noncurrent liabilities						641						(7,203)						(25,122)
Other						1,065						148						19
Total adjustments						312,364						271,810						184,035
Net cash provided by operating activities						$	494,461					$	290,370					$	168,879
Cash Flows from Investing Activities:
Additions to property, plant and equipment						$	(202,034)					$	(171,374)					$	(138,235)
Proceeds from the sale of property, plant and equipment						3,385						4,064						5,259
Investment in CONA Services LLC						(1,770)						(1,713)						(2,098)
Other distribution agreements												(4,654)
Net cash paid for exchange transactions																		(13,116)
Proceeds from cold drink equipment																		3,789
Acquisition of distribution territories and manufacturing plants, net of cash acquired and purchase price settlements																		456
Net cash used in investing activities						$	(200,419)					$	(173,677)					$	(143,945)
Cash Flows from Financing Activities:
Payments on revolving credit facility						$	(280,000)					$	(550,339)					$	(483,000)
Borrowings under revolving credit facility						235,000						515,339						356,000
Payments on term loan facility and senior bonds						(45,000)						(140,000)						(7,500)
Proceeds from issuance of senior notes												100,000						150,000
Purchase of noncontrolling interest in Piedmont Coca-Cola Bottling Partnership						(100,000)
Payments of acquisition related contingent consideration						(43,400)						(27,182)						(24,683)
Cash dividends paid						(9,374)						(9,369)						(9,353)
Payments on financing or capital lease obligations						(5,861)						(8,656)						(8,221)
Debt issuance fees						(228)						(420)						(1,531)
Net cash used in financing activities						$	(248,863)					$	(120,627)					$	(28,288)
Net increase (decrease) in cash						$	45,179					$	(3,934)					$	(3,354)
Cash at beginning of year						9,614						13,548						16,902
Cash at end of year