Business Description

The Coca-Cola Company is a total beverage company, and beverage products bearing our trademarks, sold in the United States since 1886, are now sold in more than 200 countries and territories. We own or license and market numerous beverage brands, which we group into the following categories: Trademark Coca-Cola; sparkling flavors; water, sports, coffee and tea; juice, value-added dairy and plant-based beverages; and emerging beverages. We own and market several of the world’s largest nonalcoholic sparkling soft drink brands, including Coca-Cola, Sprite, Coca-Cola Zero Sugar, Fanta and Diet Coke/Coca-Cola Light. We make our branded beverage products available to consumers throughout the world through our network of independent bottling partners, distributors, wholesalers and retailers as well as our consolidated bottling and distribution operations. Beverages bearing trademarks owned by or licensed to the Company account for 2.2 billion of the estimated 65 billion servings of all beverages consumed worldwide every day. We believe our success depends on our ability to connect with consumers by providing them with a wide variety of beverage options to meet their desires, needs and lifestyles. Our success further depends on the ability of our people to execute effectively, every day. We are guided by our purpose, which is to refresh the world and make a difference. Our vision for the Company has three connected pillars: • Loved Brands. We craft meaningful brands and a choice of drinks that people love and enjoy and that refresh them in body and spirit. • Done Sustainably. We grow our business with an aim to achieve positive change and build a more sustainable future. • For a Better Shared Future. We invest to improve people’s lives, from our employees to our suppliers and customers, to our investors, and to the communities we call home. The Coca-Cola Company was incorporated in September 1919 under the laws of the State of Delaware and succeeded to the business of a Georgia corporation with the same name that had been organized in 1892. Effective January 1, 2025, we sunset our Global Ventures operating segment to streamline and simplify our operating structure. The Global Ventures operating segment was established in 2019 primarily to oversee the Company’s ownership of Costa Limited (“Costa”), innocent and doğadan, as well as the fees earned pursuant to distribution coordination agreements between the Company and Monster Beverage Corporation (“Monster”). The results of the Costa (excluding the ready-to-drink business), innocent and doğadan businesses are now reported within the Company’s Europe, Middle East and Africa (“EMEA”) operating segment. The results of Costa’s ready-to-drink business and the fees related to Monster are now reported within the applicable geographic operating segments. 2 Operating Segments The Company’s operating structure is the basis for our internal financial reporting. Our operating structure includes the following operating segments: • EMEA • Latin America • North America • Asia Pacific • Bottling Investments Additionally, our operating structure includes operating units, which sit under our four geographic operating segments. The operating units are focused on regional and local execution and are highly interconnected, with the goal of eliminating duplication of resources and scaling new products more quickly. The operating units work closely with the global marketing category leadership teams to stay close to the consumer, accelerate the impact of innovation, and better integrate the business end-to-end across markets. Our operating structure also includes Corporate, which consists of two components: (1) a center focusing on strategic initiatives, policy, governance and scaling global initiatives, and (2) a platform services organization supporting the operating units, global marketing category leadership teams and the center by providing efficient and scaled global services and capabilities, including, but not limited to, transactional work, data management, consumer analytics, digital commerce and social/digital hubs. For additional information about our operating segments and Corporate, refer to Note 20 of Notes to Consolidated Financial Statements set forth in Part II, “Item 8. Financial Statements and Supplementary Data” of this report.…