-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, eu4J2omfQBZEDlvranrJPijlnwVfhMKV1zNQZwctnUHA1BYud4iVjSRAogd7ThZD ujtBt2R7j35WOaCW00l+kA== 0000950168-94-000240.txt : 19940706 0000950168-94-000240.hdr.sgml : 19940706 ACCESSION NUMBER: 0000950168-94-000240 CONFORMED SUBMISSION TYPE: 10-K/A PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19940102 FILED AS OF DATE: 19940628 FILER: COMPANY DATA: COMPANY CONFORMED NAME: COCA COLA BOTTLING CO CONSOLIDATED /DE/ CENTRAL INDEX KEY: 0000317540 STANDARD INDUSTRIAL CLASSIFICATION: 2086 IRS NUMBER: 560950585 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 000-09286 FILM NUMBER: 94536061 BUSINESS ADDRESS: STREET 1: 1900 REXFORD RD CITY: CHARLOTTE STATE: NC ZIP: 28211 BUSINESS PHONE: 7045514400 MAIL ADDRESS: STREET 2: 1900 REXFORD RD CITY: CHARLOTTE STATE: NC ZIP: 28211 10-K/A 1 COCA-COLA 10-K/A 89786.1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K/A (X) ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended January 2, 1994 OR ( ) TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 0-9286 COCA-COLA BOTTLING CO. CONSOLIDATED (Exact name of Registrant as specified in its charter) Delaware 56-0950585 (State or other jurisdiction of (I.R.S. Employer Identification Number) incorporation or organization) 1900 Rexford Road, Charlotte, North Carolina 282ll (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (704) 551-4400 Securities Registered Pursuant to Section 12(b) of the Act: None Securities Registered Pursuant to Section 12(g) of the Act: Common Stock, $l.00 par value (Title of Class) Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of Registrant's knowledge, in definitive proxy or information statements, incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. State the aggregate market value of voting stock held by non-affiliates of the Registrant. Market Value as of March 25, 1994 Common Stock, $l par value $208,357,000 Class B Common Stock, $l par value * *No market exists for the shares of Class B Common Stock, which is neither registered under Section 12 of the Act nor subject to Section 15(d) of the Act. Indicate the number of shares outstanding of each of the Registrant's classes of common stock, as of the latest practicable date. Class Outstanding as of March 25, 1994 Common Stock, $1 Par Value 7,958,059 Class B Common Stock, $1 Par Value 1,336,362 Documents Incorporated by Reference Proxy Statement to be filed pursuant to Section 14 of the Exchange Act with respect to the 1994 Annual Meeting of Shareholders . . . . . . . . . . . . . . Part III, Items 10-13 The registrant hereby amends the following items, financial statements, exhibits or other portions of its Annual Report on Form 10-K for the fiscal year ended January 2, 1994, which was filed with the Commission on April 1, 1994, as set forth in the pages attached hereto: A. Part IV, Item 14 A.3(ii) of the Annual Report on Form 10-K is amended to reflect the filing of Exhibit (99.1), "Information, Financial Statements and Exhibits required by Form 11-K with Respect to the Coca-Cola Bottling Co. Consolidated Savings Plan." B. Exhibit (99.1), "Information, Financial Statements and Exhibits Required by Form 11-K with Respect to the Coca-Cola Bottling Co. Consolidated Savings Plan" is filed herewith pursuant to Rule 15d-21 of the Securities Act of 1934. Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Amendment to be signed on its behalf by the undersigned, thereunto duly authorized. COCA-COLA BOTTLING CO. CONSOLIDATED (Registrant) By: /s/ David V. Singer David V. Singer Vice President & Chief Financial Officer Dated: June 27, 1994 EX-99 2 EXHIBIT 99.1 Coca-Cola Bottling Co. Consolidated Savings Plan Financial Statements and Schedules December 31, 1993 and 1992 Report of Independent Accountants In our opinion, the accompanying statements of net assets available for plan benefits and the related statements of changes in net assets available for plan benefits present fairly, in all material respects, the net assets available for benefits of the Coca-Cola Bottling Co. Consolidated Savings Plan at December 31, 1993 and 1992, and the changes in net assets available for benefits for the years then ended, in conformity with generally accepted accounting principles. These financial statements are the responsibility of the plan's management; our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these statements in accordance with generally accepted auditing standards which require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for the opinion expressed above. Our audits were made for the purpose of forming an opinion on the basic financial statements taken as a whole. The additional information included in Schedules I and II is presented for purposes of additional analysis and is not a required part of the basic financial statements but is additional information required by ERISA. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements taken as a whole. PRICE WATERHOUSE Charlotte, North Carolina May 13, 1994 Coca-Cola Bottling Co. Consolidated Savings Plan Financial Statements and Schedules INDEX TO FINANCIAL STATEMENTS AND SCHEDULES Page Financial Statements: Statements of Net Assets Available for Plan Benefits 1-2 Statements of Changes in Net Assets Available for Plan Benefits 3-4 Notes to Financial Statements 5-9 Schedules: Schedule I: Assets Held for Investment 10 Schedule II: Reportable Transactions in Excess of 5% of Plan Assets 11 Note: Other schedules are not presented because they are not applicable. Coca-Cola Bottling Co. Consolidated Savings Plan Financial Statements and Schedules PAGE 1 of 2 STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS DECEMBER 31, 1993
Fixed New Washington Bond CCBCC Income Perspective Mutual Investors Fund of Loan Common Fund Fund Fund America Fund Stock Total Coca-Cola Bottling Co. Consolidated ("CCBCC") Common Stock $ 982,580 $ 982,580 Aetna Life Insurance and Annuity Company Guaranteed Accumulation Account $ 9,682,977 9,682,977 Washington Mutual Investors Fund $ 4,464,614 4,464,614 New Perspective Fund $ 733,036 733,036 Bond Fund of America $ 457,431 457,431 Wachovia Bank Diversified Trust Fund Short-Term Investment Fund 21,838 33,378 33,378 25,000 21,416 135,010 Loans to participants $ 918,123 918,123 Employee contributions receivable 68,103 4,216 18,454 4,376 95,149 Employer contributions receivable 724,934 51,535 269,506 50,956 1,096,931 Interest and dividends receivable 331 91 121 72 30 645 Receivable from the Eastern Coca-Cola 401(k) Plan 144,744 144,744 Net assets available for plan benefits $10,642,927 $ 822,256 $ 4,786,073 $ 537,835 $ 918,123 $1,004,026 $18,711,240
The accompanying notes are an integral part of these financial statements. -1- Coca-Cola Bottling Co. Consolidated Savings Plan Financial Statements and Schedules
PAGE 2 of 2 STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS DECEMBER 31, 1992 Fixed New Washington Bond CCBCC Income Perspective Mutual Investors Fund of Loan Common Fund Fund Fund America Fund Stock Total CCBCC Common Stock $ 534,068 $ 534,068 Aetna Life Insurance and Annuity Company Guaranteed Accumulation Account $ 7,885,297 7,885,297 Washington Mutual Investors Fund $ 2,831,712 2,831,712 New Perspective Fund $ 263,090 263,090 Bond Fund of America $ 135,356 135,356 Wachovia Bank Diversified Trust Fund Short-Term Investment Fund 75,472 17,611 11,961 23,313 6,736 135,093 Loans to participants $ 628,958 628,958 Employee contributions receivable 39,367 1,220 6,530 1,061 48,178 Employer contributions receivable 1,361 304 1,634 265 3,564 Net assets available for plan benefits $ 8,001,497 $ 282,225 $ 2,851,837 $ 159,995 $ 628,958 $ 540,804 $ 12,465,316
The accompanying notes are an integral part of these financial statements. -2- Coca-Cola Bottling Co. Consolidated Savings Plan Financial Statements and Schedules PAGE 1 OF 2 STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS YEAR ENDED DECEMBER 31, 1993
Fixed New Washington Bond CCBCC Income Perspective Mutual Investors Fund of Loan Common Fund Fund Fund America Fund Stock Total Additions to net assets: Employee contributions $ 2,358,431 $ 157,766 $ 800,471 $ 145,042 $ 3,461,710 Employer contributions (Note 2) 1,249,437 85,783 458,132 89,663 1,883,015 Interest and dividends 629,193 18,808 196,082 29,428 $ 51,659 925,170 Realized gain (loss) on sale of investments 3,006 829 $ 14,409 18,244 Net unrealized gain (loss) on investments 73,693 198,563 (1,096) 502,537 773,697 Interfund transfers (1,009,150) 216,856 442,369 119,154 237,506 (6,735) Total additions 3,227,911 552,906 2,098,623 383,020 289,165 510,211 7,061,836 Deductions from net assets: Benefits paid 705,750 11,680 158,664 4,236 46,989 927,319 Forfeitures 25,475 1,195 5,723 944 33,337 Total deductions 731,225 12,875 164,387 5,180 46,989 960,656 Increase (decrease) in net assets for year 2,496,686 540,031 1,934,236 377,840 289,165 463,222 6,101,180 Transfer of net assets from Eastern Coca-Cola 401(k) 144,744 144,744 Net assets available for plan benefits at December 31, 1992 8,001,497 282,225 2,851,837 159,995 628,958 540,804 12,465,316 Net assets available for plan benefits at December 31, 1993 $ 10,642,927 $ 822,256 $ 4,786,073 $ 537,835 $ 918,123 $ 1,004,026 $18,711,240
The accompanying notes are an integral part of these financial statements. -3- Coca-Cola Bottling Co. Consolidated Savings Plan Financial Statements and Schedules
PAGE 2 OF 2 STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR PLAN BENEFITS YEAR ENDED DECEMBER 31, 1992 NationsBank Wachovia Fixed Consolidated Fixed New Income Equity Income Perspective Fund Fund Fund Fund Additions to net assets: Employee contributions $ 323,888 $ 86,820 $ 1,542,439 $ 65,670 Employer contributions (Note 2) 90,026 21,708 367,588 15,386 Interest and dividends 81,857 3,241 399,935 4,643 Realized gain (loss) on sale of investments (140,932) (167) Net unrealized gain (loss) on investments 3,575 Interfund transfers (293,503) 12,290 Total additions 495,771 (29,163) 2,016,459 101,397 Deductions from net assets: Benefits paid 211,961 55,781 344,745 245 Forfeitures 30,746 29 Total deductions 211,961 55,781 375,491 274 Increase (decrease) in net assets for year 283,810 (84,944) 1,640,968 101,123 Transfer to successor trustee (6,626,109) (2,446,049) 6,360,529 181,102 Net assets available for plan benefits at December 31, 1991 6,342,299 2,530,993 Net assets available for Plan benefits at December 31, 1992 $ $ $ 8,001,497 $ 282,225
The accompanying notes are an integral part of these financial statements.
Wachovia Washington Bond CCBCC Mutual Investors Fund of Loan Common Fund America Fund Stock Total Additions to net assets: Employee contributions $ 442,091 $ 46,263 $ 2,507,171 Employer contributions (Note 2) 109,188 10,728 614,624 Interest and dividends 100,592 6,334 $ 9,422 606,024 Realized gain (loss) on sale of investments 11,533 (30) $(19,581) (149,177) Net unrealized gain (loss) on investments 193,138 1,063 (58,528) 139,248 Interfund transfers (331,820) 6,639 620,684 (14,290) Total additions 524,722 70,997 630,106 (92,399) 3,717,890 Deductions from net assets: Benefits paid 114,928 1,458 1,148 45,007 775,273 Forfeitures 3,138 96 546 34,555 Total deductions 118,066 1,554 1,148 45,553 809,828 Increase (decrease) in net assets for year 406,656 69,443 628,958 (137,952) 2,908,062 Transfer to successor trustee 2,445,181 90,552 (5,206) Net assets available for plan benefits at December 31, 1991 683,962 9,557,254 Net assets available for Plan benefits at December 31, 1992 $ 2,851,837 $ 159,995 $ 628,958 $ 540,804 $ 12,465,316
The accompanying notes are an integral part of these financial statements. -4- Coca-Cola Bottling Co. Consolidated Savings Plan Notes to Financial Statements NOTE 1 - ACCOUNTING PRINCIPLES AND PRACTICES: The significant accounting principles and practices of the Coca-Cola Bottling Co. Consolidated Savings Plan (the "Savings Plan") are summarized as follows: Accounting Method: The accompanying financial statements have been prepared on the accrual basis of accounting. Valuation of Investments: The investments of the Savings Plan are recorded at fair value which is based primarily on quoted market values. The investment in the Aetna Life Insurance and Annuity Company Guaranteed Accumulation Account is stated at contract value. Investment Transactions: Realized gains and losses on sales of investments are recorded as the difference between proceeds received and cost. Cost is determined using the specific identification method. Net appreciation (depreciation) in fair value of investments includes the reversal of previously recognized appreciation (depreciation) relating to investments sold during the period. Reclassifications: Certain prior year amounts have been reclassified to conform to current year classifications. NOTE 2 - DESCRIPTION OF PLAN: General: The following brief description of the Savings Plan is provided for general information purposes only. Participants should refer to the Plan agreements for more complete information. The Savings Plan allows participation by substantially all full time non-union employees of Coca-Cola Bottling Co. Consolidated (the "Company"). The Savings Plan is a defined contribution plan which provides benefits to participants upon retirement, hardship, attainment of age 59 1/2, death or termination of service. The Savings Plan is administered by a Plan Committee currently composed of two persons appointed by the Board of Directors of the Company. The Board of Directors of the Company has the right at any time to remove members of the Plan Committee, who serve without compensation. The Plan Committee has complete responsibility for the operation and administration of the Savings Plan including, without limitation, the power to construe and interpret the Savings Plan and to resolve all questions that arise thereunder. The Savings Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974 ("ERISA") applicable to defined contribution or individual account plans. The Plan Committee believes the Savings Plan meets all significant requirements of ERISA. -5- Coca-Cola Bottling Co. Consolidated Savings Plan Notes to Financial Statements NOTE 2 - DESCRIPTION OF PLAN (Continued): Savings Plan Eligibility: Employees are eligible to participate in the Savings Plan on the first day of the first pay period that begins in the month subsequent to the date of completion of ninety days of employment. Participants become fully vested with respect to contributions by the Company ("Company Contribution") after the earlier of having contributed to the Savings Plan for two full years or having completed five years of service since April 30, 1986. Contributions: Participants in the Savings Plan may contribute from 1% to 6% of their total pre-tax compensation (Salary Reduction Contribution). Salary Reduction Contributions were limited by the Internal Revenue Code to $8,994 and $8,728 in 1993 and 1992, respectively. The limit is increased annually by certain cost of living adjustments and decreased for contributions to certain other plans. In addition, Salary Reduction Contributions of highly compensated employees may be further limited to comply with Internal Revenue Code discrimination requirements. The Company makes a contribution equal to 25% of the participant's Salary Reduction Contribution up to 6% of the participant's contribution. Company Contributions for highly compensated employees may be limited to comply with Internal Revenue Code discrimination requirements. During 1993, the Company made a discretionary contribution of approximately $1 million which was allocated, in general, to individual participant's accounts based on the participant's deferral percentage for the last pay period in 1993 multiplied by 25% of the participants' 1993 salary. At the discretion of the Plan Committee, participants may be permitted to deposit amounts received from other qualified plans (Rollover Contributions). During 1993 and 1992 approximately $52,000 and $136,000, respectively, was deposited into the Savings Plan under the rollover provisions. Forfeitures of Company Contribution accounts serve to reduce current year Company Contributions. Investment Options: The Savings Plan allows participants to select investment options for all contributions and earnings thereon. Participants may place contributions and transfers from other funds in any available fund in multiples of 10%. Investment options may be changed quarterly. Effective April 1, 1992, the trustee for the Savings Plan was changed from NationsBank (formerly NCNB National Bank of North Carolina) to Wachovia Bank of North Carolina, N.A. (Wachovia). In conjunction with the transfer of assets to Wachovia, the Savings Plan offers new investment options for participants. The options are as follows: (1) Fixed Income Fund - This fund is maintained by Wachovia and invests in guaranteed investment contracts of the Aetna Life Insurance and Annuity Company and is intended to insure preservation of principal and to provide a minimum credited interest rate which is redetermined as of January 1 and July 1 of each year. -6- Coca-Cola Bottling Co. Consolidated Savings Plan Notes to Financial Statements NOTE 2 - DESCRIPTION OF PLAN (Continued): (2) Equity Funds - Participants are offered a choice of three funds which are all maintained by the American Funds Group. (a) Washington Mutual Investors Fund - This fund is fully invested in common stocks and convertible securities. (b) New Perspective Fund - Investments for this fund are made in both U.S. and foreign securities. (c) Bond Fund of America - This fund invests in a diversified portfolio of bonds and other fixed-income obligations. (3) Coca-Cola Bottling Co. Consolidated Common Stock - This fund consists of investments in the common stock of the Company purchased on the open market or shares which were sold by the trustee for other Plan participants. Effective January 1, 1991, this investment option was terminated with respect to future contributions. As a result, no participant may change his or her investment options to increase the amount held in the fund. Dividends received after that date are invested in the Fixed Income Fund. Earnings Allocation: Each participant's account is credited with the participant's contributions, an allocation of the Company's contributions and an allocation of the earnings of the funds in which the participant has directed investments on a quarterly basis. Payments and Withdrawals: Following a participant's retirement, death or other separation from service, distribution of amounts credited to the participant's account will occur. The participant or the named beneficiary will receive an amount equal to the value of the participant's account arising from the participant's and company contributions and earnings thereon in cash or in Company Stock, to the extent so requested by the participant and held in the participant's account. Pre-termination distributions are allowed upon the participant's attainment of age 59 1/2 or on account of hardship. Withdrawals other than those allowed upon attainment of age 59 1/2 or death may result in the imposition of a 10% penalty on amounts withdrawn. Effective April 1, 1992, the Savings Plan was amended to allow participants to obtain loans subject to approval by the Plan Committee. Such loans are limited to one-half of a participant's vested interest in his or her Savings Plan account up to $50,000. Other: Administrative expenses incurred directly by the Savings Plan are generally paid by the Company. The Company reserves the right to amend, discontinue or terminate the Savings Plan. If the Savings Plan should be terminated, each participating employee will become fully vested and will be entitled to receive payment from his or her account as provided in the Savings Plan. Because the Savings Plan is an individual account plan, it is not insured under the plan termination provision of ERISA as administered by the Pension Benefit Guaranty Corporation. -7- Coca-Cola Bottling Co. Consolidated Savings Plan Notes to Financial Statements NOTE 3 - TAX STATUS OF THE SAVINGS PLAN: The Savings Plan has received a favorable determination letter from the Internal Revenue Service with respect to the qualified status of the Savings Plan. The Plan Committee believes the Savings Plan continues to fulfill the requirements of a qualified plan and is not subject to tax. Accordingly, no provision for income taxes has been reflected in the accompanying financial statements. Under the present federal income tax laws, a participating employee will not become subject to federal income tax with respect to contributions or income earned thereon until the participating employee's account is distributed to the employee from the Savings Plan. NOTE 4 - NET APPRECIATION (DEPRECIATION) IN FAIR VALUE OF INVESTMENTS: For 1993 and 1992 the following investments of the Savings Plan had changes in fair market value as follows:
1993 1992 Net increase (decrease) in unrealized appreciation for the year: Coca-Cola Bottling Co. Consolidated Common Stock $ 502,537 $ (58,528) New Perspective Fund 73,693 3,575 Washington Mutual Investors Fund 198,563 193,138 Bond Fund of America (1,096) 1,063 $ 773,697 $ 139,248
NOTE 5 - PLAN MERGERS: During 1993, the Company and The Coca-Cola Company formed Piedmont Coca-Cola Bottling Partnership ("Piedmont"). The Company manages the operations of Piedmont pursuant to a management agreement. In conjunction with the management agreement, the Company is responsible for administering benefits of employees of Piedmont which Piedmont leases from the Company. Effective December 31, 1993, the Eastern Coca-Cola Bottling Company 401(k) Plan ("Eastern Plan"), a plan for certain employees of Piedmont, was merged into the Plan. The assets of the Eastern Plan were transferred into the Savings Plan during the first quarter of 1994. -8- Coca-Cola Bottling Co. Consolidated Savings Plan Notes to Financial Statements NOTE 6 - RECONCILIATION TO FORM 5500 The calculation of unrealized appreciation/(depreciation) and realized gains/(losses) differs for financial reporting purposes and the reporting required under ERISA, although the aggregate realized and unrealized gain or loss is the same for financial reporting and ERISA reporting purposes. Benefit obligations payable to participants at December 31, 1993 and 1992 are reflected as Savings Plan liabilities in the Form 5500, but are not included in the Savings Plan's net assets on the financial statements. Benefit obligations payable to participants at December 31, 1993 and 1992, respectively, included in the Savings Plan's net assets amounted to the following:
December 31, December 31, 1993 1992 Fixed Income Fund $ 67,969 $ 843 New Perspective Fund 249 Washington Mutual Investors Fund 6,585 Bond Fund of America 1,021 CCBCC Common Stock 1,183 -------- -------- $ 77,007 $ 843
These amounts are reflected as plan liabilities in the Form 5500 filed for ERISA reporting purposes. NOTE 7 - SUBSEQUENT EVENTS The trustee for the Plan was changed from Wachovia to Investors Fiduciary Trust Company on January 1, 1994. All investment options available to Plan participants remain unchanged. Also, effective January 1, 1994, participants may contribute up to 10% of their pre-tax earnings to the Plan, of which the Company matches 25% of the first 6% contributed by participants. -9- Coca-Cola Bottling Co. Consolidated Savings Plan Schedule I ASSETS HELD FOR INVESTMENT DECEMBER 31, 1993 Units Description Cost Market 26,920 Coca-Cola Bottling Co. Consolidated Common Stock $ 713,263 $ 982,580 9,682,977 Aetna Life Insurance and Annuity Company Guaranteed Accumulation Account 9,682,977 9,682,977 251,103.158 Washington Mutual Investors Fund 4,072,213 4,464,614 48,836.505 New Perspective Fund 655,755 733,036 31,656.155 Bond Fund of America 457,461 457,431 135,010 Wachovia Bank Diversified Trust Fund Short-Term Investment Fund 135,010 135,010 Loans to participants 918,123 918,123 $16,634,802 $17,373,771 -10- Coca-Cola Bottling Co. Consolidated Savings Plan Schedule II REPORTABLE TRANSACTIONS IN EXCESS OF 5% OF PLAN ASSETS YEAR ENDED DECEMBER 31, 1993
Dollar Dollar Number of Number of value of value of Net Description purchases sales purchases sales gain Aetna Life Insurance and Annuity Company Guaranteed Accumulation Account 31 2 $2,009,166 $806,000 Washington Mutual Investors Fund 44 1,459,541
-11- Consent of Independent Accountants We hereby consent to the incorporation by reference in the Prospectus constituting part of the Registration Statement on Form S-3 (No. 33-4325) of our report dated May 13, 1994 appearing in this Form 10-K/A. PRICE WATERHOUSE Charlotte, North Carolina June 27, 1994 -----END PRIVACY-ENHANCED MESSAGE-----