Please carefully read the Financial Statements and accompanying notes of the Coca Cola Company for 2019 and answer the following questions related to the income statement, comprehensive income statement and balance sheet. (12/01/2020) (1) List the current assets and noncurrent assets Coca Cola reported in 2019? (2) What accounts are included under current liabilities in 2019? (3) What accounts are included under non-current liabilities in 2019? (4) What does capital surplus represent? (5) What does reinvested earnings represent? How about accumulated other comprehensive income? (6) Give three examples of balance sheet related accounting policy disclosures by Coca-Cola. (7) What did Coca Cola disclose under Commitments and Contingencies? (8) What did Coca cola disclose under Fair Values? THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (In millions except par value) 2019 2018 December 31. ASSETS Current Assets Cash and cash equivalents Short-term investments Total Cash, Cash Equivalents and Short-Term Investments Marketable securities S 6,480 $ 9,077 1,467 2,025 7,947 11,102 3,228 5,013 3,685 Trade accounts receivable, less allowances of $S24 and $501, respectively Inventories Prepaid expenses and other assets Total Current Assets Equity method investments Other investments 3,971 3,379 1.886 20.411 19,025 854 3,071 2,059 24,930 19,+12 867 6,075 4,148 2,412 2,674 10,838 9,598 9,266 6,682 109 51 16,764 14,109 627 745 $ 86,381 S 83,216 Other assets Deferred income tax assets Property, plant and equipment net Trademarks with indefinite lives Bottlers' franchise rights with indefinite lives Goodwill Other intangible assets Total Assets LIABILITIES AND EQUITY Current Liabilities Accounts payable and accrued expenses Loans and notes payable Current maturities of long-term debt Accrued income taxes Total Current Liabilities Long-term debt Other liabilities Deferred income tax liabilities The Coca-Cola Company Shareowners' Equity Common stock, $0.25 par value; authorized - 11,200 sharest issued Capital surplus Reinvested earnings Accumulated other comprehensive income (loss) Treasury stock, at cost - 2,760 and 2,772 shares, respectively Equity Attributable to Shareowners of The Coca-Cola Company Equity attributable to noncontrolling interests Total Equity Total Liabilities and Equity Refer to Notes to Consolidated Financial Statements. $ 11,312 $ 9,533 10,994 13,835 4,253 5,003 414 411 26,973 28,782 27,516 25,376 8,510 7.646 2,284 2,354 7,040 shares 1,760 1,760 17,154 16,520 65,855 63,234 (13,544) (12,814) (52.244) (51,719) 18,981 16,981 2,117 2,077 21,098 19,058 S 86,381 $ 83,216 THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) 2019 2018 2017 Year Ended December 31. Operating Activities Consolidated net income Depreciation and amortization Stock-based compensation expensa Deferred income taxes Equity (Income) loss - net of dividends Foreign currency adjustments Significant (gains) losses -- net Other operating charges Other items Net change in operating assets and abilities Net Cash Provided by Operating Activities Investing Activities Purchases of investments $ 8,985 $ 6.476 $ 1.283 1,365 1.086 1.260 201 225 219 (280) (413) (1.252) (421) (457) (628) 91 292 (467) 743 1.459 127 558 1.218 504 699 (252) 366 (1.240) 3,442 10,471 7.627 7.041 (50) (4,704) (7.789) (17.296) Net Cash Provided by Operating Activities 10,471 7,627 7.041 Investing Activities Purchases of investments (4,704) (7.789) (17.296) Proceeds from disposals of investments 6,973 14,977 16,694 Acquisitions of businesses, equity method investments and nonmarketable securities (5,542) (1,263) (3,809) Proceeds from disposals of businesses, equity method investments and nonmarketable securities 429 1,362 3,821 Purchases of property, plant and equipment (2,054) (1.548) (1.750) Proceeds from disposals of property, plant and equipment 978 248 108 Other investing activities (56) (60) (80) Net Cash Provided by (Used in) Investing Activities (3,976) 5.927 (2,312) Financing Activities Issuances of debt 23,009 27,605 29,926 Payments of debt (24,850) (30.600) (28.871) Issuances of stock 1,012 1.476 1.595 Purchases of stock for treasury (1,103) (1.912) (3.682) Dividends (6,845) (6,644) (6,320) Other financing activities (227) (272) (95) Net Cash Provided by (Used in) Financing Activities (9,004) (10.347) (7.447) Effect of Exchange Rate Changes on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents (72) (262) 241 Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents Not increase (decrease) in cash cash equivalents, restricted cash and restricted cash equivalents during the year (2,581) 2.945 (2.477) Cash cash equivalents, restricted cash and restricted cash equivalents at beginning of year 9,318 6.373 8.850 Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents at End of Year 6,737 9.318 6.373 Less: Restricted cash and restricted cash equivalents at end of year 257 241 271 Cash and Cash Equivalents at End of Year $ 6,480 5 9.077 $ 6.102 Refer to Notes to Consolidated Financial Statements THE COCA-COLA COMPANY AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF SHAREOWNERS' EQUITY (in millions except per share data) 2019 2018 2017 4,268 4.259 4,288 33 (21) 4,280 $ 1,760 $ 48 (39) 4,268 1.760 $ 53 (82) 4,259 1.760 16,520 433 201 15,864 467 225 (36) 16.520 Year Ended December 31, Equity Attributable to Shareowners of The Coca-Cola Company Number of Common Shares Outstanding Balance at beginning of year Treasury stock issued to employees related to stock-based compensation plans Purchases of stock for treasury Balance at end of year Common Stock Capital Surplus Balance at beginning of year Stock issued to employees related to stock-based compensation plans Stock-based compensation expense Other activities Balance at end of year Reinvested Earnings Balance at beginning of year Adoption of accounting standards Net income attributable to shareowners of The Coca-Cola Company Dividends (per share - $1.60. $1.56 and $1.48 in 2019, 2018 and 2017 respectively) Balance at end of year Accumulated Other Comprehensive Income (Loss) Balance at beginning of year Adoption of accounting standards: Net other comprehensive income (loss) Balance at end of year Treasury Stock Balance at beginning of year Treasury stock issued to employees related to stock-based compensation 14,993 655 219 (3) 15,864 17,154 65.502 63,234 546 8,920 60,430 3,014 6,434 1.248 (6,845) 65,855 (6,644) 63,234 (6.320) 60.430 (12,814) (10.305) (11.205) (564) (409) (166) (2.100) 900 (13,544) (12.814) (10.305) (51,719) (50.677) (47988) (12,814) (10,305) (11,205 (564) (409) (166) (2.100) 900 (13,544) (12,814) (10,305) (51,719) (50,677) (47.988) Accumulated Other Comprehensive Income (Loss) Balance at beginning of year Adoption of accounting standards. Net other comprehensive income (loss) Balance at end of year Treasury Stock Balance at beginning of year Treasury stock issued to employees related to stock based compensation plans Purchases of stock for treasury Balance at end of year Total Equity Attributable to Shareowners of The Coca-Cola Company Equity Attributable to Noncontrolling Interests Balance at beginning of year Net income attributable to noncontrolling interests Net foreign currency translation adjustments Dividends paid to noncontrolling interests Acquisition of interests held by noncontrolling owners Contributions by noncontrolling interests Business combinations Deconsolidation of certain entities 501 704 909 (1,026) (1.746) (3,598) (52,244) (51.719) (50,677) $ 18,981 $ 16.981 $ 17,072 $ 2,077 $ 65 45 (48) (84) 3 59 1.905 $ 42 53 (31) 158 35 38 (15) 101 1.805 (157)