Share the value
INVESTING TOGETHER FOR A BETTER
INVESTING
IN OUR RELATIONSHIPS AROUND THE
INVESTING IN AND GROWING OUR
INVESTING
IN GROWING A MORE SUSTAINABLE
Muhtar Kent, Chairman of the Board of Directors and CEO, delivering cases of Coca‑Cola in Yangon, Myanmar
LETTER TO SHAREOWNERS
HIGHLIGHTS
Our growth algorithm is working. In 2009, we came together with our bottling partners to craft our 2020 VISION—a collaborative roadmap to double our system revenues this decade. Over the past three years, we have sold 3.3 billion incremental unit cases, added more than $30 billion to our market capitalization, boosted our daily servings by more than 200 million and met or exceeded our long-term volume, revenue and profit targets every year—all during one of the most challenging macroeconomic periods in recent history. Our brands are stronger than ever, we are gaining share around the world and our global bottling system is healthier than ever.
Eurasia & Africa 16% Pacific 18% Europe 15% Latin America 29% North America 22%
OPERATING GROUPS
2012 Worldwide Unit Case Volume Geographic Mix
Invested in shared-value collaborations with music-sharing service Spotify, social fitness community Endomondo and other innovative partners to enhance our brands and build stronger connections with consumers.

We continue to crack the code for growth by investing in our system, brands and communities. Our brand metrics are at an all-time high because, consistently through the macroeconomic volatility of the last few years, we have invested in our brands and business on a global scale.

Together with our bottling partners, we have announced more than $30 billion in investments over the next five years to support anticipated growth across the world—from new manufacturing facilities and infrastructure, to cold-drink equipment and distribution systems, to recycling plants, to marketing programs and people capabilities.

In 2012, we announced multiyear investments in several key markets, including Chile ($1.3 billion), India ($3 billion, bringing our total 2012–2020 investment to $5 billion) and Vietnam ($300 million, bringing our total 2010–2015 investment to $500 million). We opened our 42nd bottling plant in China as part of our $4 billion investment plan in this strategically important market. We also delivered Coca‑Cola products to Myanmar for the first time in more than 60 years.

We continued to invest in commercial excellence—how we bring our brands to life in the marketplace—by placing more than 1.3 million units of cold-drink equipment in 2012. As a result, our immediate consumption volume grew a solid 5 percent.

Won 30 Cannes Lions in nine categories—including a pair of category-topping Grand Prix awards—at the 2012 Cannes Lions International Festival of Creativity. We also were named Global Marketer of the Year by the Mobile Marketing Association.

We strive to create moments of happiness through emotional stories that connect with people in authentic ways. Today we are deepening our connections with consumers—and turning brand loyalists into brand advocates. With social media at the heart of our strategy, we continue to create “shareworthy” content and experiences that travel from medium to medium, sparking conversation and interaction.

Our 2012 global marketing agenda was anchored by the Move to the Beat campaign for the London 2012 Olympic Games™, which fused music and sport with producer Mark Ronson and five Olympic hopefuls. Mobile played a pivotal role in the program, connecting teens in more than 100 countries to compelling content through a smartphone app, mobile website and our first centrally coordinated text message program targeting emerging markets.

Our marketing evolved in 2012 to not only open happiness but to provoke it through creative executions such as the award-winning “Share a Coke” program in Australia and viral video sensations like “Security Cameras” (Latin America), “Hug Me Machine” (Singapore), “Coca‑Cola Polar Bowl” (U.S.) and “Coca‑Cola Zero™: Unlock the 007 in You” (Great Britain).

We also continued to affirm our cultural leadership through platforms such as Coke Studio™, bringing together artists from various genres to create and perform fusion music. The innovative Coke Studio concept, created in Brazil and later adapted in India and Pakistan, launched recently in the Middle East.

Coca‑Cola Zero volume grew 5% in 2012, continuing its strong momentum globally.

Together with our more than 250 bottling partners and 23 million customer outlets who sell our beverages, we refresh the world more than 1.8 billion times a day with our diverse portfolio of more than 500 brands, including 16 billion-dollar brands. We are committed to striking a sound balance between the growth of our sparkling and still beverages, and to providing consumers with an expanded array of beverage products—both with and without calories—and package sizes for every lifestyle and life occasion.

The results we have achieved across our portfolio demonstrate that we are delivering on this commitment. Our sparkling beverage volume was up 3 percent in 2012, the third straight year our sparkling portfolio has grown by at least 550 million unit cases.

Consistently and reliably, our sparkling beverage growth has been led by brand Coca‑Cola, up 3 percent in 2012. Two of our other sparkling brands—Fanta™ (+5 percent) and Sprite™ (+4 percent)—also delivered solid growth for the year.

Our still beverage volume was up a solid 10 percent in 2012, with mid single-digit to double-digit growth across every category in which we compete. This growth was led by sports drinks (+6 percent), waters (+12 percent) and energy drinks (+20 percent).

Pledged $1 million to support local relief and rebuilding efforts in the aftermath of Hurricane Sandy.

At The Coca‑Cola Company, sustainability is about growing our business as we take positive steps to help enhance people’s lives, build strong communities and protect the environment we all share. We are committed to using our marketing expertise, the appeal of our brands and our global scale to create value and make a lasting, positive difference. This commitment is not only about philanthropy, it is about creating a more sustainable business.

All sectors of society must come together to help develop solutions to the world’s greatest problems, which is why we partner with extraordinary organizations across the “golden triangle” of government, civil society and business.

In 2012, we formed or accelerated several innovative partnerships, including teaming up with DEKA R&D Corporation and renowned inventor Dean Kamen, the Inter-American Development Bank and Africare to work toward bringing clean water to water-stressed communities through the innovative “Slingshot” purification technology. We also extended the reach of Project Last Mile, our successful collaboration with the Global Fund to bring critical medicines to rural Africa. With the support of key partners, we are scaling up and replicating 5by20 programs throughout the world and making strong progress on our journey to enable the empowerment of 5 million women entrepreneurs.

We continue to form partnerships to tackle the complex issue of obesity. We promote active healthy living through the variety of products and packages we offer, the nutrition information we provide and our support for active healthy living programs. Together with our industry peers, we introduced the Calories Count™ program in the United States to feature calorie information on Company-owned vending machines for all beverages.

To learn more, access our 2011/2012 Sustainability Report at
www.Coca‑Colacompany.com/sustainabilityreport.

Dear Fellow Shareowners,

Sharing a Coke and sharing the value created by Coca‑Cola have been at the heart of our story for nearly 127 years.

In fact, our legendary chairman Robert Woodruff believed everyone who touched our business should benefit—from shareowners like you to our bottling partners, customers, consumers, associates, suppliers, distributors, other stakeholders and the communities we proudly serve.

Together with you and partners across more than 200 countries, we continued this tradition in 2012.

For me, one of last year’s most meaningful moments of shared value came during a September visit to Myanmar, also known as Burma, where positive political changes allowed Coca‑Cola to return after a 60-year absence.

For the people of Myanmar, Coca‑Cola embodies the bright promise of better days and better lives ahead.

I was deeply honored to deliver the first cases to our new customers in Yangon and meet with leaders, shop owners and other citizens. And what I remember most were their faces—shining and hopeful, with a special spark in their eyes.

For the people of Myanmar, this was more than the return of a delicious, refreshing beverage. To them, Coca‑Cola embodies the bright promise of better days and better lives ahead. And we look forward to being part of their journey.

There were many other highlights, as we successfully completed the third year of our 2020 Vision to double the size of our business—and the value we create—during this decade. How did we do? Let’s take a look at the 6 Ps of our vision: Profit, People, Portfolio, Partners, Planet and Productivity.

1. Profit. Despite lingering economic headwinds, we achieved strong, balanced results in 2012, meeting or exceeding our long-term volume, revenue and profit targets as we did in both previous years of our 2020 Vision.

In 2012, we increased volume by 4 percent, with our sparkling beverages growing a healthy 3 percent and our still portfolio up 10 percent. In addition, we generated record net operating revenues of more than $48 billion and operating income of nearly $11 billion.

We also split our stock for the first time in 16 years. In early 2013, we announced plans to increase our dividend for the 51st consecutive year. All told, between dividends and share repurchases, we returned $9.1 billion to shareowners like you in 2012.

Over the first three years of our 2020 Vision, we’ve increased daily servings by more than 200 million, lifted our global volume and value share to the highest levels since 2003 and added more than $30 billion to The Coca‑Cola Company’s market capitalization.

2. People. The men and women of the Coca‑Cola system inspired me in 2012 with their can-do spirit and unwavering commitment to excellence. This was true when I helped open new plants in Chile and China—and visited colleagues in more than 25 countries, including Brazil, France, India, Japan, Kenya, Mexico, Sweden, Thailand and Vietnam.

With our team in Great Britain leading the way, our people executed our most successful Olympics activation across 100-plus countries—connecting with our fans, celebrating the importance of active healthy lifestyles and inspiring people to “Move to the Beat” of London 2012.

Brand Coca‑Cola volume grew a healthy 3 percent—nearly 300 million unit cases. That’s like adding the brand Coca‑Cola volume of another Germany or two Russias.

Coca‑Cola people made a difference in our communities, too, volunteering to support worthy causes like the Special Olympics and International Coastal Cleanup Day. They also reached out to help others in the wake of devastating natural disasters, from terrible flooding in Pakistan to Hurricane Sandy’s battering of the U.S. East Coast.

And our people helped Coca‑Cola win many honors, from topping Interbrand’s Best Global Brands list for more than 12 consecutive years to winning 30 awards at the Cannes Lions International Festival of Creativity to reaching number four on FORTUNE’s Most Admired Companies list. Early in 2013, Fast Company named Coca‑Cola one of the world’s most innovative companies.

3. Portfolio. In 2012, we made the most of our portfolio of more than 500 brands, starting with our flagship beverage. Brand Coca‑Cola grew by a healthy 3 percent—nearly 300 million unit cases. That’s like adding the brand Coca‑Cola volume of another Germany or two Russias.

Studying all the opportunities—country by country and category by category—we introduced 500-plus new products in 2012, including more than 100 low- and no-calorie choices, and made several targeted portfolio investments. For example, we took an ownership stake in the maker of Core Power protein drinks in the United States. And we partnered with Aujan, acquiring roughly half of this industry leader in the Middle East with strong juice, sparkling and malt beverage brands.

We welcomed two new billion-dollar brands—I LOHAS bottled water and Ayataka premium green tea. We now have 16 such brands, with more to come.

4. Partners. We proudly serve more than 23 million retail customers each week, helping them sell more beverages, generate more traffic and revenue, and provide for their employees and communities.

We’re always pushing ourselves to create even greater value for all our customers, from individual vendors to traditional retailers to large stores. One way we did so in 2012 was by helping our customers increase immediate consumption sales by 5 percent, the fastest rate in over a decade.

Coca‑Cola Freestyle fountain dispenser is now delighting consumers in 47 U.S. states and test markets in London, Tokyo and Toronto with more than 100 beverage options.

With our customers, we also continued to roll out our revolutionary Coca‑Cola Freestyle fountain dispenser, which is now delighting consumers in 47 U.S. states and test markets in London, Tokyo and Toronto with more than 100 beverage options.

5. Planet. In 2012, the Coca‑Cola system replenished 52 percent of the water used in making our finished beverages, with 468 community water projects helping us reach the halfway point in achieving our goal of water neutrality by 2020.

We also introduced an exciting new partnership with our friend and partner Dean Kamen, who has invented a breakthrough purification system for communities in need of safe drinking water. After successful tests in 2012, we plan to bring this technology to communities in South Africa and two Latin American countries in 2013.

In packaging and recycling, we sold 7 billion PlantBottle packages in 2012, reducing our petroleum use with a recyclable plastic bottle up to 30 percent made from plants. And we launched EKOCYCLE—a cutting-edge line of recycled goods—with musician and friend will.i.am, making recycling even cooler.

With our partners, we used our supply-chain expertise to improve the distribution of critical medicines in Tanzania, where nearly 20 million people are benefiting. We’re now replicating the project in Ghana and Mozambique.

Seeking to empower 5 million women entrepreneurs by 2020, we expanded our 5by20 initiative from four countries to 12: Brazil, China, Costa Rica, Egypt, Haiti, India, Kenya, Mexico, Nigeria, the Philippines, South Africa and Thailand.

6. Productivity. In 2012, we announced a new organizational structure of three operating businesses: Coca‑Cola Americas, Coca‑Cola International and Bottling Investments Group. Made official on January 1, 2013, this organization again demonstrates our commitment to continuous improvement.

We also launched a productivity and reinvestment program to create $550 million to $650 million in annual savings by 2015. By freeing up resources via supply-chain optimization, improved marketing effectiveness, operational excellence and systems standardization, we can invest more in innovation, marketing and additional “feet on the street” to drive our growth.

Meanwhile, our global bottling system is healthier than ever. Some of our bottling partners are joining together to become even more efficient and responsive to market needs. In 2012, bottler-led consolidations were announced in Brazil, Japan and Spain. And Coca‑Cola FEMSA, a longtime leader in Latin America, took over our bottling operations in the Philippines in early 2013.

Before I close, I want to mention a complex societal issue that touches us all: obesity. In 2012, The Coca‑Cola Company took new steps to give consumers even more choice in package sizes, sweeteners and beverages—including more than 800 low- and no-calorie selections—while also providing clear nutrition information and supporting fitness programs.

We remain constructively discontent as we seek to make the most of the vast growth opportunities we continue to see around the globe.

Truth is, Coca‑Cola has a rich heritage of being associated with exercise, sports and active lifestyles. Today, we’re using our marketing expertise and community connections to educate consumers on energy balance and inspire more people to get moving. We firmly believe the challenges of obesity are solvable, and we’re committed to being part of the solution.

I want you to know just how privileged I feel to lead this wonderful business of providing simple moments of pleasure and refreshment for cents at a time more than 1.8 billion times a day. What could possibly be better?

And each time someone opens an ice-cold Coke, a couple shares a Sprite at the movies, an athlete reaches for a Powerade Zero or a parent picks up a bottle of Minute Maid, value is created. Not only for our Company but for the company we keep in communities worldwide.

Looking back on 2012, I’m proud of all we achieved alongside our customers, bottlers and other partners. Even so, we’re not satisfied. We remain constructively discontent as we seek to make the most of the vast growth opportunities we continue to see around the globe.

Thank you for your investment in The Coca‑Cola Company. Please know that we are working, every day, to make you proud as we refresh the world, inspire moments of optimism and happiness, create value and make a difference.

Thank you,

Muhtar Kent
Chairman of the Board of Directors
and Chief Executive Officer
April 1, 2013

Completed the 11th split in our stock’s 92-year history and the first in 16 years.
Posted our 11th consecutive quarter of volume growth in North America and our highest-ever full year volume.
Advanced on FORTUNE’s Most Admired Companies ranking (up two spots to No. 4).
Named Creative Marketer of the Year by the Cannes Lions festival of creativity and inducted into the American Advertising Federation Hall of Fame.
Returned $9.1 billion to shareowners through dividends and share repurchases in 2012.
Delivered our sixth consecutive year of double-digit volume growth in India.
Added a pair of brands from Japan to our billion-dollar brands portfolio: Ayataka (green tea) and I LOHAS (water).

Became the first brand to record 50 million “likes” on Facebook (september 2012).
Launched Coca‑Cola Journey™, our reimagined corporate website and digital magazine, to showcase and socialize the compelling content behind our Company and our brands.
Won 30 Cannes Lions in nine categories—including a pair of category-topping Grand Prix awards—at the 2012 Cannes Lions International Festival of Creativity. We also were named Global Marketer of the Year by the Mobile Marketing Association.
Invested in shared-value collaborations with music-sharing service Spotify, social fitness community Endomondo and other innovative partners to enhance our brands and build stronger connections with consumers.
Announced a new partnership with renowned inventor Dean Kamen and DEKA R&D Corporation, the Inter-American Development Bank and Africare to deliver clean drinking water through the “Slingshot” technology to water-stressed communities in Africa and Latin America.

Expanded the Coca‑Cola Zero Make It Possible™ campaign to 130+ markets around the world, co-creating the dynamic storytelling platform with the brand’s fan community of “doers and believers” who take action to make their dreams a reality.
Coca‑Cola Zero volume grew 5% in 2012, continuing its strong momentum globally.
Announced our return to Formula 1 racing through the burn energy drink brand’s multiyear sponsorship of the Lotus F1 team. Burn is available in more than 75 countries throughout Europe, Asia, Africa and Latin America.
Kicked off Sprite’s largest-ever basketball program with the Sprite Uncontainable Game™. Six NBA stars, led by Kobe Bryant and LeBron James, helped discover amateur ballers whose style of play set them apart. The global search culminated at NBA All‑Star 2013.
We support more than 280 physical activity and nutrition education programs in more than 115 countries, and we are committed to having a program in every country where we operate by 2015.
Officially returned to Myanmar for the first time in more than 60 years, marking the next step in our commitment to the rapidly evolving country as it opens up to the world.
Expanded our 5by20™ Women's Empowerment initiative from four countries to 12 countries, providing business skills training, financial services and mentoring to nearly 300,000 female entrepreneurs, to date.
Reached an all-time high in customer availability globally with more than 23 million outlets, an increase of 3 million since 2009.
Launched 500+ new products in 2012.
Engaged more than 9 million people who tuned in during the 2012 Super Bowl to the “Polar Bowl,” a live second-screen viewing experience featuring the iconic Coca‑Cola polar bears.
Launched Powerade’s first global Olympic program since its worldwide debut at the 1992 Barcelona Games. The sports drink brand’s “Power Through” campaign for London 2012, which reached more than 35 markets, told an inspirational story featuring four world-class athletes.
Introduced FUZE Tea, our first global ready-to-drink tea brand created through a fusion of tea, fruit and other natural flavors, in 25 markets.
Concluded the first year of the Arctic Home™ campaign in the United States and Canada in partnership with World Wildlife Fund (WWF), resulting in more than $2 million donated to create a safe haven for polar bears in the Arctic.

Low- or no-calorie beverages make up nearly 25% of our total product portfolio.
Announced a $3.5 million commitment to the United States Water Partnership (USWP) to advance sustainable water access in African countries facing the greatest clean water challenges.
Collaborated with Chicago and San Antonio on a “wellness challenge” between employees of the two cities, and joined with industry partners to feature calorie information for all beverage choices on vending machines nationwide.
Announced a partnership with JBF Industries Ltd. to build the world’s largest facility to produce the key ingredient used to make PlantBottle™ packaging.
Recycled all bottles collected at the London 2012 Olympic Games venues and returned them to the shelves within six weeks. Additionally, our product labels presented a clear recycling call to action, and we created more than 120 permanent Coca‑Cola Recycle Zones all across Great Britain.
Listed in both the Climate Disclosure Project (CDP) Global 500 Carbon Disclosure Leadership Index and CDP S&P 500 Carbon Disclosure Leadership Index, and continued to advance on the Climate Counts rankings.
Pledged $1 million to support local relief and rebuilding efforts in the aftermath of Hurricane Sandy.
Launched a successful campaign for the UEFA EURO 2012 football tournament. Consumer surveys revealed that Coca‑Cola was overwhelmingly recognized as the tournament's primary sponsor, and this brand awareness translated into share gains in the host nations of Ukraine and Poland.
The Coca‑Cola Company and The Coca‑Cola Foundation gave back $101.6 million in 2012 to support sustainable community initiatives around the world, including water stewardship, community recycling, active healthy living and educational programs.
Posted our 22nd consecutive quarter of global NARTD value share GAINS, AND GREW global volume and value share of core sparkling and NARTD beverages to our highest levels since 2003.

Replenished 52% of the water used in our beverages back to communities through 468 community water projects in 2012.

Topped Interbrand’s ranking of the World’s 100 Best Global Brands, as Coca‑Cola® has every year since 2000. The 2012 report estimates the brand’s value at $77.8 billion, up 8% versus 2011.
We will continue to invest in our core business, with plans to spend around $3 billion in capital expenditures during 2013.
Invested more than $100 million in the development of highly efficient, HFC-free cooling technologies over the last decade, including solar-powered coolers in rural India.

Launched Move to the Beat™, our largest-ever Olympic Games™ marketing campaign. The program, which fused music and sport, was designed to inspire young people in 100+ countries to get moving for London 2012.
27.7 Billion Unit Cases Worldwide
Unit Case
Volume Growth
  All
Beverages
  Sparkling
Beverages
  Still
Beverages
               
    2012 vs. 2011
Growth
5-Year Compound
Annual Growth
  2012 vs. 2011
Growth
  2012 vs. 2011
Growth
               
Eurasia & Africa
  11% 8%   9%   19%
Europe
  -1% 1%   -2%   0%
Latin America
  5% 6%   3%   12%
North America
  2% 0%   -1%   8%
Pacific
  5% 6%   4%   8%
Worldwide   4% 4%   3%   10%
servings consumed per person worldwide in 2012. One serving equals 8 fluid ounces of finished beverage.

DOWNLOAD THE PDF OF PER CAPITA CONSUMPTION DATA FOR 2012

2012 CONSUMPTION SNAPSHOT
based on U.S. 8 fluid ounces of a finished beverage
Mexico 745   Brazil 241   South Korea 99
Chile 486   Peru 219   Worldwide 94
Panama 416   Great Britain 200   Morocco 87
United States 401   Germany 191   Russia 79
Argentina 364   El Salvador 186   Egypt 65
Belgium 333   Japan 182   China 39
Australia 315   Turkey 176   Kenya 39
Spain 283   France 141   Nigeria 26
Bolivia 263   Italy 132   Pakistan 21
South Africa 260   Philippines 131   Indonesia 15
Austria 259   Colombia 128   India 14
Canada 259   Thailand 113   Mali 13
Israel 254            

2012 UNIT CASE VOLUME MIX BY GEOGRAPHY

A. Middle East & North Africa 27%
B. Central, East & West Africa 18%
C. India 15%
D. Turkey 12%
E. South Africa 11%
F. Russia 9%
G. Other 8%

Eurasia & africa

The Eurasia & Africa Group built on the previous year’s momentum to deliver unit case volume growth of 11 percent (9 percent excluding the benefit of acquired volume) in 2012, underscoring the continued momentum of our business in emerging Africa, India, the Middle East, Russia and Turkey. In Russia, our business achieved an all-time high market share as we continued to outperform the industry. In India, our business delivered its sixth consecutive year of double-digit volume growth. Growth in the Middle East & North Africa was very strong despite continued geopolitical challenges in much of the region. We saw growth across Africa as we continue to invest in communities throughout the continent. We initiated a number of cultural leadership and marketing campaigns that helped drive consumer connections. These efforts included activation of the UEFA EURO 2012; Coke Studio in Pakistan, India and the Middle East; the “Billion Reasons to Believe in Africa” campaign; and the Today I Will™ campaign in the Middle East that encouraged consumers to make a positive impact in their communities.

2012 UNIT CASE VOLUME MIX BY GEOGRAPHY


19%
17%
14%
13%
9%
8%
20%
A. Eastern Europe
B. Germany
C. Spain
D. Great Britain
E. France
F. Italy
G. Other

Europe

The Europe Group faced a challenging environment in 2012, with ongoing economic uncertainty and weak consumer confidence across the region resulting in a 1 percent decline in unit case volume. The year saw an unforgettable summer of sport, as we fully activated our sponsorships of the UEFA EURO 2012, the Olympic Torch Relay and the London 2012 Olympic Games. These efforts connected with European consumers on a massive scale. Other highlights included our Coca‑Cola “Christmas Truck Tour”–bringing magical experiences to communities all over Europe–and “Coke & Meals,” which is expanding household penetration through innovative customer partnerships and cross-promotions. In 2012, the Europe Group also launched a number of innovations to help consumers have an active, healthy and balanced lifestyle—using the naturally sourced sweetener stevia in select beverages to lower calories, offering additional smaller package sizes and investing in more active lifestyle programs.

2012 UNIT CASE VOLUME MIX BY GEOGRAPHY


44%
25%
18%
13%
A. Mexico
B. Brazil
C. South Latin
D. Latin Center

Latin America

Our Latin America Group, the Company’s largest operating group in terms of unit case volume, grew 5 percent in 2012, achieving the milestone number of 8 billion unit cases and gaining both volume and value share in NARTD for the eighth consecutive year. Sparkling beverage volume was up 3 percent, driven by continued growth in brand Coca‑Cola, and still beverage volume grew 12 percent. This high-quality performance was enabled by our enduring advantages across several areas. First, the strength of our Coca‑Cola connection with the Latin America consumer, which is supported by world-class marketing of our brands. Second, a selective focus on high-value categories, which has allowed us to build leadership positions in flavored sparkling beverages, juices and juice drinks, and RTD tea, among other categories. Third, execution excellence, especially in terms of our route-to-market platforms, a highly competitive price/pack portfolio and in-store merchandising capabilities. Fourth, a healthy bottling system, highly supportive of the Company’s growth aspirations. And finally, a talented and passionate team, committed to delivering on the promise of our 2020 Vision.

2012 UNIT CASE VOLUME MIX BY GEOGRAPHY


94%
6%
A. United States
B. Canada

north america

Our flagship market is dedicated to building strong brands, converting brand value into customer value and building system capabilities to sustain and repeat success. As a fully integrated organization, we are executing with precision to effectively and efficiently produce solid results, including 2 percent unit case volume growth in 2012 and the 11th consecutive quarter of volume growth in North America. Collaborating with our bottlers and customers, we implemented engaging consumer programs, including our 2012 Olympic Games activation for Coca‑Cola and Powerade™ and phase two of Arctic Home. Our momentum continued with successful marketing partnerships between Diet Coke™ and The Heart Truth® campaign; Coca‑Cola Zero and the National Collegiate Athletic Association (NCAA®); Sprite and the NBA; and Coca‑Cola and NASCAR®. Offering the right brands, packages and prices across the right channels and occasions led to volume and value share gains in almost every beverage category. Robust volume growth was seen across multiple brands, including Fanta, Seagram’s™, Powerade, Coca‑Cola Zero, Simply, Honest Tea™ and smartwater™.

2012 UNIT CASE VOLUME MIX BY GEOGRAPHY


42%
19%
11%
6%
6%
14%
A. China
B. Japan
C. Philippines
D. Australia
E. Thailand
F. Other

pacific

The Pacific Group delivered 5 percent unit case volume growth in 2012. In Japan, our continued focus on investing in new and growing categories has led to two new billion-dollar brands in our global portfolio—I LOHAS water and Ayataka green tea. Additionally, Japan delivered solid unit case volume growth of 2 percent. Thailand delivered impressive double-digit growth in overall unit case volume and for brand Coca‑Cola, reinforcing our leadership position in this key emerging market. During the year, our sparkling beverage portfolio expanded in China, but the economic slowdown contributed to lower overall unit case volume growth than 2011; we expect sequential improvement as we move through 2013. In September 2012, we delivered our products to Myanmar for the first time in more than 60 years.

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THE PDF OF
ALL OPERATING GROUPS

bottling investments

In 2012 the Bottling Investments Group maintained relentless focus on driving long-term sustainable growth in each of our markets and developing the capability and skill of our associates at all levels of the organization. We grew unit case volume 6 percent on a comparable basis, which excludes our acquisitions of bottling operations in Cambodia, Guatemala and Vietnam. On a reported basis, unit case volume grew 10 percent. Our commercial strategies to accelerate top-line growth gained traction, and we gained market share in the sparkling category across many markets. Our Operational Excellence programs remain focused on eliminating waste and increasing efficiencies while we continue to make solid progress in simplifying and leveraging cost-effective platforms to upgrade our technology infrastructure. We continued to appropriately invest in supply chain and distribution infrastructure to optimize our manufacturing assets and meet future capacity demands. Finally, as our industry faces new opportunities and social challenges, we continued to strengthen our strategies, plans and commitments to a sustainable environment and promoting active healthy lifestyles within each of the local communities in which we operate.

complete annual report on form 10-k

per capita consumption of company beverage products for selected countries

operating groups