8-KOther EventsExhibits & Filings

COCA COLA CO 8-K Report, Corporate Update (Oct 27, 2016)

Filed October 27, 2016For Securities:KO

Summary

This 8-K filing by Coca-Cola Company (KO) on October 27, 2016, primarily serves to update previously reported financial information for the year ended December 31, 2015, as contained in their 2015 Form 10-K. The company is revising historical operating segment data to align with its current organizational structure, which now includes a new Europe, Middle East, and Africa operating group and a reclassification of Coca-Cola Refreshments' U.S. and Canadian bottling operations. Additionally, the filing addresses the retrospective application of two new accounting standards: ASU 2015-03 (simplifying the presentation of debt issuance costs) and ASU 2015-07 (related to fair value disclosures for certain investments). Importantly, Coca-Cola emphasizes that these revisions are purely presentational and do not alter the company's previously reported consolidated financial condition, results of operations, or cash flows. Investors should refer to the included Exhibit 99.1 and subsequent quarterly filings for the most up-to-date segment reporting and financial details.

Key Highlights

  • 1Revision of 2015 Form 10-K operating segment information to reflect current organizational structure.
  • 2Formation of a new Europe, Middle East, and Africa operating group as of August 1, 2016.
  • 3Reclassification of Coca-Cola Refreshments' U.S. and Canada bottling operations to the Bottling Investments segment effective January 1, 2016.
  • 4Retrospective application of accounting standards ASU 2015-03 (Debt Issuance Costs) and ASU 2015-07 (Fair Value Measurement Disclosures).
  • 5Revisions are purely presentational and do not impact previously reported consolidated financial condition, results of operations, or cash flows.
  • 6Exhibit 99.1 provides updated items from the 2015 10-K, including Business, Properties, Selected Financial Data, MD&A, and Financial Statements.
  • 7XBRL-formatted financial information for multiple periods is also included.

Frequently Asked Questions

The main purpose is to revise and update historical operating segment information from the company's 2015 10-K filing to reflect recent organizational changes and to apply new accounting standards retrospectively. These revisions are primarily for presentation purposes.

No, the company explicitly states that these updates are purely presentational and do not affect its previously reported consolidated financial condition, results of operations, or cash flows.

The filing mentions the retrospective application of ASU 2015-03, which simplifies the presentation of debt issuance costs, and ASU 2015-07, which modifies disclosures for certain investments measured at net asset value per share.

The updated segment information, along with other revised sections from the 2015 10-K, is provided in Exhibit 99.1 to this 8-K filing. Additionally, the company's Quarterly Report on Form 10-Q for the period ended September 30, 2016, reflects the current operating segments.