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The Coca-Cola Company
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2019 Vault Rankings

At a Glance

Uppers

Interesting projects and dedicated colleagues

Good health and retirement benefits

All the Cokes you can drink

Downers

Old-style management that is slow to embrace telecommuting and work-life balance.

Limited advancement

Frequent relocation

Discourages "out of the box" thinking

The Bottom Line

If you're a team player, seek structure and enjoy basking in the glow of a global brand, you're a good fit for Coca-Cola. But iconoclasts who seek fast action on innovative ideas should look elsewhere.

About The Coca-Cola Company

The Coca-Cola Company is the #1 nonalcoholic beverage company in the world, as well as one of the world's most recognizable brands. It is home to more than 500 beverage brands, some 20 of those billion-dollar-brands, including four of the top five soft drinks: Coca-Cola, Diet Coke, Fanta, and Sprite. In addition to soft drinks, it markets waters, juice drinks, energy and sports drinks, dairy and plant-based beverages, and ready-to-drink teas and coffees. Other top brands include Minute Maid, Powerade, Dasani, Honest Tea, and vitaminwater. With the world's largest beverage distribution system, Coca-Cola reaches thirsty consumers in more than 200 countries. Nearly 65% of its sales comes from outside the US.

Operations

Coca-Cola manages six operating segments (most of them geographically-based), including Europe, the Middle East, and Africa (EMEA); Latin America; North America; Asia Pacific; Bottling Investments; and Corporate.

Its geographic operating segments primarily manufacture and sell beverage concentrates and syrups. North America is the largest geographic segment, accounting for about 35% of revenue; the EMEA and Asia-Pacific regions generate nearly 25% and about 15%, respectively, followed by Latin America, which brings in just more than 10% of total revenue.

The shrinking Bottling Investments segment generates about 10% of revenue and includes company-owned and consolidated bottling operations, which sell soft drinks and other nonalcoholic beverages to retailers, distributors, wholesalers, and bottling partners who distribute them to retailers. Coca-Cola owns stakes in major bottlers such as Mexico's Coca-Cola FEMSA (28%), European bottler Coca-Cola HBC (23%), AC Bebidas (20%), Coca-Cola European Partners (19%), Monster Beverage (19%), and Coca-Cola Bottlers Japan (18%).

In early 2019 the company launched another segment, Global Ventures, which will include the results from recently acquired Costa Limited, owner of thousands of coffee shops operating outside North America.

Soft drinks account for about 70% of Coca-Cola's worldwide unit case volume.

Geographic Reach

The world's largest beverage company sells products in some 200 countries and generates about 35% of its sales in the US. Outside the US, unit case volume is highest in Mexico, China, Brazil, and Japan.

Headquartered in Atlanta, Coca-Cola has about 290 offices, plants, warehouses, and other facilities across the globe.

Sales and Marketing

Coca-Cola reaches customers through the largest beverage distribution system in the world, made up of company-owned or controlled bottling and distribution operations, as well as independently owned bottling partners, distributors, wholesalers, and retailers.

The company is a world-class advertiser, known for multiple popular ad campaigns stretching back many decades. It continues to keep its brand foremost in the mind of consumers with heavy investments in advertising, spending about $4 billion each year in recent years.

Financial Performance

Coca-Cola's annuals sales and profits have been trending lower over the past several years as traditional soft drink sales have fallen with changing consumer tastes in developed markets. Revenue has declined more than 30% over the past five years and net income had also dropped significantly until 2018.

The soft-drink maker's sales fell 10% to $31.9 billion in 2018 as the refranchising of bottling territories and bottling operations (part of a deliberate structural change) resulted in a significant drop in sales from the Bottling Investments segment. That was offset slightly by an increase in volume and a more favorable price, product, and geographic  mix.

Coca-Cola's net income that year jumped more than 500% to $6.4 billion on improved operating margins and lower income taxes from the prior year, when profit was hit hard by a one-time transition tax resulting from the Tax Reform Act signed into law in late 2017.

Cash at the end of 2018 was $8.9 billion, an increase of $2.9 billion from the prior year. Cash from operations contributed $7.3 billion to the coffers, while investing activities provided another  $6.3 billion from proceeds from disposal of investments. Financing activities used $10.6 billion, primarily on payments of debt and dividends.

Strategy

Coca-Cola is dealing with headwinds in two primary areas: a shift in consumer tastes toward healthier beverages and product saturation in mature markets. Expanding its self-described "consumer-centric" portfolio -- by quickly scaling wins from market to market and embracing an experimental, test-and-learn approach -- is how the company plans to grow.

Coca-Cola has been focused on waters, juices, teas, and low- or no-sugar drinks. In recent years it has acquired US rights to Topo Chico premium sparkling mineral water, introduced Honest Tea and glaceau smartwater to new international markets, rebranded and relaunched Coca-Cola Zero Sugar, and purchased a UK-based chain of coffee shops. In addition, the company has goosed sales of its reliable but staid Diet Coke brand with four new flavors (ginger lime, mango, blood orange, cherry) targeted to health-conscious consumers, particularly Millennials, who've abandoned Diet Coke for alternatives. As part of its overall portfolio optimization effort, Coca-Cola has also eliminated some 700 "zombie" products (drinks that never gained momentum).

Through its "lift and shift" philosophy, Coca-Cola moves successful products into new markets across the globe, sometimes with the same recipe and sometimes with customized changes to better appeal to local consumers. The company has introduced Zico coconut water into several European and Asian markets and has expanded a host of other brands (Honest Tea, smartwater, Coke Zero Sugar, fuzetea, and Ades, among them) into dozens of new countries.

Lastly, to compensate for falling sales amid these changing times, Coca-Cola has embarked on a major refranchising initiative through which bottling operations are returned to local ownership. It completed the refranchising of the bottling systems in the US and China in 2017, creating a much more capital-light organization. The company also created a new bottling partner in Japan to serve most of that region. In 2018 it completed a refranchising of its Canadian bottling operations.

Mergers and Acquisitions

In early 2019 Coca-Cola acquired UK coffee shop chain Costa Coffee from Whitbread for $5.1 billion. The chain boasts more than 2,400 coffee shops in the UK, 1,400 shops across 31 international markets, and 8,000 vending machines. Its international locations include some 450 locations in China. The deal brings coffee into the Coca-Cola fold for the first time, provides an extensive international platform, and also diversifies away from sugary drinks. Also that year the company took full ownership of one of Africa's leading juice and dairy beverage producers, Nigeria-based Chi Ltd.

Coca-Cola's half-dozen 2018 purchases included stakes in bottlers in Oman, the Philippines, and the United Arab Emirates, as well as minority interests in BA Sports Nutrition, maker of BodyArmor sports drinks, and Australian juice and smoothie company Made Group.

Company Background

Atlanta pharmacist John Pemberton invented Coke in 1886. His bookkeeper, Frank Robinson, named the product after two ingredients, coca leaves (later cleaned of narcotics) and kola nuts. By 1891 druggist Asa Candler had bought The Coca-Cola Company, and within four years the soda-fountain drink was available in all states; it was in Canada and Mexico by 1898.

Candler's family sold the company to Atlanta banker Ernest Woodruff for $25 million in 1919. Coca-Cola went public that year.

The Coca-Cola Company

1 COCA-COLA PLZ
Atlanta, GA 30313-2499
Phone: 1 (404) 676-2121

Stats

Employer Type: Publicly Owned
Stock Symbol: KO
Stock Exchange: , NYSE
Chairman: Muhtar Kent
President and CEO: James R. Quincey
EVP and CFO: Kathy N. Waller
Employees (This Location): 8,000
Employees (All Locations): 62,600

Major Office Locations

Atlanta, GA

Other Locations

Birmingham, AL
Camden, AR
Little Rock, AR
Rogers, AR
Huachuca City, AZ
Mesa, AZ
Yuma, AZ
Anaheim, CA
City Of Industry, CA
Inglewood, CA
Irvine, CA
Meadow Vista, CA
Oceanside, CA
Ontario, CA
Penngrove, CA
Sacramento, CA
San Jose, CA
San Leandro, CA
Santa Cruz, CA
Ventura, CA
Denver, CO
Waterford, CT
Washington, DC
Apopka, FL
Auburndale, FL
Dunedin, FL
Fort Pierce, FL
Hollywood, FL
Orlando, FL
Pensacola, FL
Riviera Beach, FL
Saint Augustine, FL
Sarasota, FL
Tallahassee, FL
Tampa, FL
Temple Terrace, FL
Valparaiso, FL
Athens, GA
Atlanta, GA
Austell, GA
Carrollton, GA
Dublin, GA
Gainesville, GA
Lawrenceville, GA
Macon, GA
Manteca, GA
Marietta, GA
Rome, GA
Smyrna, GA
Valdosta, GA
Warner Robins, GA
West Point, GA
Honolulu, HI
Kapolei, HI
Alsip, IL
Bartonville, IL
Charleston, IL
Chicago, IL
Du Quoin, IL
Naperville, IL
Niles, IL
Rock Island, IL
Saint Charles, IL
Springfield, IL
Urbana, IL
Anderson, IN
Bloomington, IN
Fort Wayne, IN
Indianapolis, IN
Jasper, IN
Lafayette, IN
Portland, IN
Shelbyville, IN
South Bend, IN
Terre Haute, IN
Garden City, KS
Lenexa, KS
Shawnee Mission, KS
Topeka, KS
Victoria, KS
Wichita, KS
Somerset, KY
Monroe, LA
New Iberia, LA
New Orleans, LA
Shreveport, LA
Brookline, MA
Greenfield, MA
Northampton, MA
Capitol Heights, MD
Hagerstown, MD
Bay City, MI
Belleville, MI
Detroit, MI
Farmington Hills, MI
Flint, MI
Grand Rapids, MI
Kalamazoo, MI
Kincheloe, MI
Lansing, MI
Negaunee, MI
Paw Paw, MI
Petoskey, MI
Traverse City, MI
Duluth, MN
Moorhead, MN
North Branch, MN
Owatonna, MN
Saint Paul, MN
Columbia, MO
Joplin, MO
Saint Charles, MO
Saint Joseph, MO
Sedalia, MO
Truesdale, MO
Natchez, MS
Great Falls, MT
Kalispell, MT
Missoula, MT
Bismarck, ND
Devils Lake, ND
Grand Forks, ND
Minot, ND
Grand Island, NE
Lincoln, NE
Long Pine, NE
Norfolk, NE
North Platte, NE
Omaha, NE
Carlstadt, NJ
Monmouth Junction, NJ
Albuquerque, NM
Clovis, NM
Las Vegas, NM
Roswell, NM
Las Vegas, NV
Albany, NY
Bronx, NY
Elmsford, NY
Hauppauge, NY
Hawthorne, NY
Horseheads, NY
Maspeth, NY
New Windsor, NY
Rochester, NY
Staten Island, NY
Syracuse, NY
Watertown, NY
Akron, OH
Circleville, OH
Columbus, OH
Elyria, OH
Mansfield, OH
Sardinia, OH
Toledo, OH
Twinsburg, OH
Willoughby, OH
Youngstown, OH
Zanesville, OH
Portland, OR
Tigard, OR
Allentown, PA
Ebensburg, PA
Erie, PA
Greensburg, PA
Houston, PA
Lancaster, PA
Lemoyne, PA
Mount Pocono, PA
Reading, PA
Guaynabo, PR
Providence, RI
Knoxville, TN
Abilene, TX
Amarillo, TX
Channelview, TX
Dallas, TX
Fort Worth, TX
Houston, TX
Lubbock, TX
Mcallen, TX
San Antonio, TX
Sherman, TX
Sugar Land, TX
Sulphur Springs, TX
Texarkana, TX
Waco, TX
Wichita Falls, TX
Bountiful, UT
Salt Lake City, UT
Bellevue, WA
Tukwila, WA
Wenatchee, WA
Appleton, WI
Ashland, WI
Eau Claire, WI
La Crosse, WI
Milwaukee, WI
Plover, WI
Rhinelander, WI
Schofield, WI
Windsor, WI
Wrightstown, WI
Cody, WY
Gillette, WY
Riverton, WY
Sheridan, WY
Santiago, Chile
Minato-Ku, Japan
Moriyama, Japan
Sapporo, Japan
Shibuya-Ku, Japan
Barrie, Canada
Bathurst, Canada
Brampton, Canada
Brandon, Canada
Calgary, Canada
Cambridge, Canada
Castlegar, Canada
Charlottetown, Canada
Chatham, Canada
Chilliwack, Canada
Coquitlam, Canada
Corner Brook, Canada
Cranbrook, Canada
Edmonton, Canada
Edmundston, Canada
Edwardsville, Canada
Fredericton, Canada
Gatineau, Canada
Granby, Canada
Grand Falls-Windsor, Canada
Halifax, Canada
Hamilton, Canada
Kamloops, Canada
Kelowna, Canada
Kingston, Canada
Lachine, Canada
Lakeside, Canada
Lethbridge, Canada
London, Canada
Medicine Hat, Canada
Miramichi, Canada
Moncton, Canada
Mount Pearl, Canada
Nanaimo, Canada
North Battleford, Canada
North Bay, Canada
North York, Canada
Owen Sound, Canada
Peterborough, Canada
Prince George, Canada
Québec, Canada
Regina, Canada
Renfrew, Canada
Richmond, Canada
Saint John, Canada
Saskatoon, Canada
Stellarton, Canada
St Paul, Canada
Stratford, Canada
Sudbury, Canada
Terrace, Canada
Thunder Bay, Canada
Trois-Rivières, Canada
Victoria, Canada
Winnipeg, Canada
Ciudad De Mexico, Mexico
Lørenskog, Norway
Istanbul (Anatolia), Turkey
Helsinki, Finland
Wexford, Ireland
Depok, Indonesia
Singapore, Singapore