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COCA COLA CO

For the period ended Dec 31, 2023. Filed Feb 20, 2024.

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About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 20, 2024

KO$95.67-0.1%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-K

(Mark One)

For the fiscal year ended December 31, 2023

OR

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number 001-02217

COCA COLA CO

(Exact name of Registrant as specified in its charter)

Delaware58-0628465
(State or other jurisdiction of incorporation)(I.R.S. Employer Identification No.)
One Coca-Cola Plaza
Atlanta,Georgia30313
(Address of principal executive offices)(Zip Code)

Registrant’s telephone number, including area code:(404) 676-2121

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, $0.25 Par ValueKONew York Stock Exchange
0.500% Notes Due 2024KO24New York Stock Exchange
1.875% Notes Due 2026KO26New York Stock Exchange
0.750% Notes Due 2026KO26CNew York Stock Exchange
1.125% Notes Due 2027KO27New York Stock Exchange
0.125% Notes Due 2029KO29ANew York Stock Exchange
0.125% Notes Due 2029KO29BNew York Stock Exchange
0.400% Notes Due 2030KO30BNew York Stock Exchange
1.250% Notes Due 2031KO31New York Stock Exchange
0.375% Notes Due 2033KO33New York Stock Exchange
0.500% Notes Due 2033KO33ANew York Stock Exchange
1.625% Notes Due 2035KO35New York Stock Exchange
1.100% Notes Due 2036KO36New York Stock Exchange
0.950% Notes Due 2036KO36ANew York Stock Exchange
0.800% Notes Due 2040KO40BNew York Stock Exchange
1.000% Notes Due 2041KO41New York Stock Exchange

Securities registered pursuant to Section 12(g) of the Act: None

Indicate by check mark if the Registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No☐

Indicate by check mark if the Registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes☐ No ☒

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 ☒ No☐

Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). Yes ☒ No☐

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer☒Accelerated filer☐Non-accelerated filer☐Smaller reporting company☐Emerging growth company☐

If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

Indicate by check mark whether the Registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☒

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the Registrant included in the filing reflect the correction of an error to previously issued financial statements.☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the Registrant’s executive officers during the relevant recovery period pursuant to § 240.10D-1(b).☐

Indicate by check mark if the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐ No☒

The aggregate market value of the common equity held by non-affiliates of the Registrant (assuming for these purposes, but without conceding, that all executive officers and Directors are “affiliates” of the Registrant) as of June 30, 2023, the last business day of the Registrant’s most recently completed second fiscal quarter, was $258,329,040,018 (based on the closing sale price of the Registrant’s Common Stock on that date as reported on the New York Stock Exchange).

The number of shares outstanding of the Registrant’s Common Stock as of February 16, 2024 was 4,312,456,168.

DOCUMENTS INCORPORATED BY REFERENCE

Portions of the Company’s Proxy Statement for the 2024 Annual Meeting of Shareowners are incorporated by reference in Part III.

Table of Contents

Page
Forward-Looking Statements2
Part I
Item 1.Business2
Item 1A.Risk Factors12
Item 1B.Unresolved Staff Comments26
Item 1C.Cybersecurity26
Item 2.Properties27
Item 3.Legal Proceedings28
Item 4.Mine Safety Disclosures31
Item X.Information About Our Executive Officers31
Part II
Item 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities33
Item 6.Reserved34
Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations34
Item 7A.Quantitative and Qualitative Disclosures About Market Risk58
Item 8.Financial Statements and Supplementary Data60
Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure128
Item 9A.Controls and Procedures128
Item 9B.Other Information128
Item 9C.Disclosure Regarding Foreign Jurisdictions That Prevent Inspections128
Part III
Item 10.Directors, Executive Officers and Corporate Governance128
Item 11.Executive Compensation128
Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters129
Item 13.Certain Relationships and Related Transactions, and Director Independence129
Item 14.Principal Accountant Fees and Services129
Part IV
Item 15.Exhibits and Financial Statement Schedules129
Signatures139
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.