The Coca-Cola Company is organized geographically and defines reportable operating segments as regions of the world. The following information was extracted from Note 19 Operating Segments in the Coca-Cola Company 2017 Annual Report: Page 406 Information about our Company's continuing operations by operating segment as of and for the years ended December 31, 2017, 2016, and 2015, is as follows (in millions): Europe, Middle Latin North Asia Bottling East & Africa America America Pacific Investments Corporate Eliminations Consolidated 2017 $8.651 $10,524 $ 138 $ $7,332 42 7.374 $3,956 73 4.029 2.214 $4,767 409 5,176 81 (2,549) (2,549) 138 1.986 10.637 2.578 44 10.605 (1,117) $35,368 42 35,410 7,501 677 3.646 2.163 (1,983) 633 841 841 Net operating revenues: Third party Intersegment Total net operating revenues Operating income (loss) Interest income Interest expense Depreciation and amortization Equity income (loss)-net Income (loss) from continuing operations before income taxes Identifiable operating assets Investments Capital expenditures 91 454 202 37 (3) 411 (3) 65 11 1,260 1,071 48 878 140 3,706 5,475 1.238 81 2.179 2.072 2,211 1.896 891 55 2,307 17.619 112 (2,345) 4,493 15.998 662 (1,316) 27,060 3,536 6,742 58,615 21,952 1,675 177 541 50 286 2016 Net operating revenues: Third party $ 127 $ $41,863 $7,014 264 7,278 3,676 $3,746 73 3,819 1,951 $6,437 3,773 10,210 2.582 $4,788 506 5,294 2.224 $ 19,751 134 19.885 (137) (4.755) (4.755) 5 132 (1,670) 615 41,863 8.626 27 642 733 93 35 426 80 1.013 140 733 1,787 835 62 18 (17) 9 648 115 Intersegment Total net operating revenues Operating income (loss) Interest income Interest expense Depreciation and amortization Equity income (loss-net Income (loss) from continuing operations before income taxes Identifiable operating assets Investments Capital expenditures 2015 Net operating revenues: 3,749 4,067 1,302 1.966 1,785 804 2.560 16,566 109 2,338 2.024 (1.923) 15,973 11,456 1,329 (454) 29,606 3.414 8.136 70,021 17,249 2.262 164 107 62 45 438 281 Third party $ 156 $ $44.294 $3,999 75 4,074 $6,966 621 7,587 3,875 $5,581 4,259 9,840 $22.885 178 10 $4,707 545 5,252 2,189 (5.688) (5.688) 166 23,063 124 2,169 2,366 9 (1,995) 604 856 44,294 8,728 613 856 1.970 103 41 373 85 157 Intersegment Total net operating revenues Operating income (loss) Interest income Interest expense Depreciation and amortization Equity income (loss)-net Income (loss) from continuing operations before income taxes Identifiable operating assets Investments Capital expenditures 1.211 426 39 (7) (18) 9 40 489 3.923 4,156 2,356 16,396 2,164 1,627 657 70 2.207 1,639 158 (427) 22,688 8,084 1,699 (618) 27,702 5,644 272 9,605 74.208 15.788 2,553 1.138 107 377 54 81 . Required 1. Calculate the following measures for each of Coca-Cola's operating segments (excluding Bottling Investments and Corporate): Page 407 Percentage of total net operating revenues, 2016 and 2017. Percentage change in total net operating revenues, 2015 to 2016 and 2016 to 2017. Operating income as a percentage of total net operating revenues (profit margin), 2013 and 2014. 2. Determine whether you believe Coca-Cola should attempt to expand its operations in a particular region of the world to increase net operating revenues and operating income. 3. List any additional information you would like to have to conduct your analysis. Page 408 . The Coca-Cola Company is organized geographically and defines reportable operating segments as regions of the world. The following information was extracted from Note 19 Operating Segments in the Coca-Cola Company 2017 Annual Report: Page 406 Information about our Company's continuing operations by operating segment as of and for the years ended December 31, 2017, 2016, and 2015, is as follows (in millions): Europe, Middle Latin North Asia Bottling East & Africa America America Pacific Investments Corporate Eliminations Consolidated 2017 $8.651 $10,524 $ 138 $ $7,332 42 7.374 $3,956 73 4.029 2.214 $4,767 409 5,176 81 (2,549) (2,549) 138 1.986 10.637 2.578 44 10.605 (1,117) $35,368 42 35,410 7,501 677 3.646 2.163 (1,983) 633 841 841 Net operating revenues: Third party Intersegment Total net operating revenues Operating income (loss) Interest income Interest expense Depreciation and amortization Equity income (loss)-net Income (loss) from continuing operations before income taxes Identifiable operating assets Investments Capital expenditures 91 454 202 37 (3) 411 (3) 65 11 1,260 1,071 48 878 140 3,706 5,475 1.238 81 2.179 2.072 2,211 1.896 891 55 2,307 17.619 112 (2,345) 4,493 15.998 662 (1,316) 27,060 3,536 6,742 58,615 21,952 1,675 177 541 50 286 2016 Net operating revenues: Third party $ 127 $ $41,863 $7,014 264 7,278 3,676 $3,746 73 3,819 1,951 $6,437 3,773 10,210 2.582 $4,788 506 5,294 2.224 $ 19,751 134 19.885 (137) (4.755) (4.755) 5 132 (1,670) 615 41,863 8.626 27 642 733 93 35 426 80 1.013 140 733 1,787 835 62 18 (17) 9 648 115 Intersegment Total net operating revenues Operating income (loss) Interest income Interest expense Depreciation and amortization Equity income (loss-net Income (loss) from continuing operations before income taxes Identifiable operating assets Investments Capital expenditures 2015 Net operating revenues: 3,749 4,067 1,302 1.966 1,785 804 2.560 16,566 109 2,338 2.024 (1.923) 15,973 11,456 1,329 (454) 29,606 3.414 8.136 70,021 17,249 2.262 164 107 62 45 438 281 Third party $ 156 $ $44.294 $3,999 75 4,074 $6,966 621 7,587 3,875 $5,581 4,259 9,840 $22.885 178 10 $4,707 545 5,252 2,189 (5.688) (5.688) 166 23,063 124 2,169 2,366 9 (1,995) 604 856 44,294 8,728 613 856 1.970 103 41 373 85 157 Intersegment Total net operating revenues Operating income (loss) Interest income Interest expense Depreciation and amortization Equity income (loss)-net Income (loss) from continuing operations before income taxes Identifiable operating assets Investments Capital expenditures 1.211 426 39 (7) (18) 9 40 489 3.923 4,156 2,356 16,396 2,164 1,627 657 70 2.207 1,639 158 (427) 22,688 8,084 1,699 (618) 27,702 5,644 272 9,605 74.208 15.788 2,553 1.138 107 377 54 81 . Required 1. Calculate the following measures for each of Coca-Cola's operating segments (excluding Bottling Investments and Corporate): Page 407 Percentage of total net operating revenues, 2016 and 2017. Percentage change in total net operating revenues, 2015 to 2016 and 2016 to 2017. Operating income as a percentage of total net operating revenues (profit margin), 2013 and 2014. 2. Determine whether you believe Coca-Cola should attempt to expand its operations in a particular region of the world to increase net operating revenues and operating income. 3. List any additional information you would like to have to conduct your analysis. Page 408