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CONDENSED CONSOLIDATED STATEMENT OF INCOME - USD ($)
shares in Millions, $ in Millions
3 Months Ended
Mar. 24, 2018
Mar. 25, 2017
Income Statement [Abstract]    
Net Revenue $ 12,562 [1] $ 12,049
Cost of sales 5,655 5,290
Gross Profit 6,907 6,759
Selling, General and Administrative Expense 5,100 4,896
Operating Income (Loss) 1,807 1,863 [2]
Other pension and retiree medical benefits income/expense 75 70
Interest Expense (294) (252)
Interest and Other Income 69 40
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest 1,657 1,721
Income Tax Expense (Benefit) 304 392
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest 1,353 1,329
Net Income (Loss) Attributable to Noncontrolling Interest 10 11
Net Income (Loss) Attributable to Parent $ 1,343 $ 1,318
Earnings Per Share [Abstract]    
Earnings Per Share, Basic $ 0.94 $ 0.92
Earnings Per Share, Diluted $ 0.94 $ 0.91
Weighted Average Number of Shares Outstanding, Diluted [Abstract]    
Weighted Average Number of Shares Outstanding, Basic [3] 1,420 1,428
Weighted Average Number of Shares Outstanding, Diluted [3] 1,430 1,440
Common Stock, Dividends, Per Share, Declared $ 0.805 $ 0.7525
[1] Our primary performance obligation is our distribution and sales of beverage products and food and snack products to our customers, each comprising approximately 50% of our consolidated net revenue. Internationally, our Latin America segment is predominantly a food and snack business, ESSA’s beverage business and food and snack business are each approximately 50% of the total segment net revenue and AMENA’s beverage business and food and snack business are approximately 35% and 65%, respectively, of the total segment net revenue. Beverage revenue from company-owned bottlers, which primarily includes our consolidated bottling operations in our NAB and ESSA segments, is approximately 40% of our consolidated net revenue. Generally, our finished goods beverage operations produce higher net revenue but lower operating margins as compared to concentrate sold to authorized bottling partners for the manufacture of finished goods beverages.
[2] Reflects the retrospective adoption of guidance requiring the presentation of non-service cost components of net periodic benefit cost below operating profit. See Note 2 for additional information.
[3] Weighted-average common shares outstanding (in millions)