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2010AnnualReviewAdvAncingouRglobAlMoMentuMWeAReRefReshingMoRepeoplethAneveRbefoRe2lettertoshareowners5selectedfinancialdata6125thAnniversary82010highlights10percapitaconsumption12MomentuminnorthAmerica14growingourJuicebusiness16expandingourbeverageportfolio18engagingwithconsumers20doingbusinesssustainably222010operatinggrouphighlights26businessprofile28Management30boardofdirectors31shareownerinformation32companystatements332020visiongoalsWebeganservingadeliciousandrefreshingsparklingbeverage125 yearsagoinAtlanta,georgia.Withthatfirstmomentofrefreshmentcameathirstformorethatcontinuestothisday.Wenowhavemorethan500 brandsand3,500 beverageproductsandsell1.7 billionservingsperdayinover200 countries.Wearegrowingourreach,strengtheningourbrandsandadvancingourglobalmomentum,everymomentofeveryday.2thecoca-colacompanyDearFellowShareownerS:thispastyear,ihadtheprivilegeofvisitingourcoca-colaoperationsin17countriesonfourcontinents.duringmytravelswithourassociatesaroundtheworld,weopenednewbottlingplants,visitedresearchanddevelopmentcenters,workedwithretailcustomers,metwithconsumersandsuppliers,andcollaboratedwithanassortmentofamazingleadersfrombusiness,governmentandcivilsociety.fromthebustlingcitiesofchinatotheremotevillagesofsouthAfrica,iwalkedawaywithoneoverridingimpressionofthe coca-cola company.Whatisawandcontinuetoseeintheseconddecadeofthe21st centuryisacompanythatissteadilyandstrategicallyadvancingitsmomentumallaroundtheworld.Workingwithournearly300bottlingpartners,weaddedmorethan1 billionincrementalunitcasesofvolumetoourbusinessin2010.ourunitcasevolumegrew5 percent,andweexceededourlong-termgrowthtargetforunitcasevolumeandoperatingincome.TrademarkCoca-Cola,thelifebloodofourbusiness,accountedfornearly400 millionunitcasesofincrementalvolume,thelargestincrementalgrowthwehaveseensince2007.inaddition,MinuteMaidPulpy,ajuicedrinkthatwasdevelopedjustfiveyearsagoinchina,grewintoour14thbrandtoachieveannualretailsalesofmorethan$1 billion.in2010,ourcompanygenerated$9.5 billionincashfromoperations,up16 percentover2009.Wereturned$7.2 billiontoourshareownersbyrepurchasing$3.1 billionincompanystockandpaying$4.1 billiontoshareownersthroughdividends.infact,wehaveincreasedourannualdividendpaymentsfor49consecutiveyears.winningTogeTherwiThourBoTTlingParTnerSoneofthemostimportantwayswehaveadvancedourmomentumaroundtheworldhasbeenourabilitytoworktogetherwithourglobalbottlingpartnersinsupportofourshared2020vision,whichweunveiledin2009.Collectively,weown,inspireanddriveour2020Visioneverysingleday.thisdisciplined,systemwideexecutionisalreadyshowingsignificantresults.in2010,wegrewdailyservingsofourbeveragesto1.7 billion.atthesametime,systemrevenueshavegrowntomorethan$100 billion.Wehavealsomadesomebig,bolddecisionsalongtheway,includingacommitmenttomorethan$25 billioninnewsysteminvestmentsoverthenextfiveyearsinmarketsaroundtheworld.creatingvaluewithourbottlingpartnersalsomeanscapturingtheheartsandmindsofourconsumers,customers,associates,communitiesandotherstakeholderswhohonorusbyinvitingusintotheirliveseachday.Asstewardsoftheworld’smostvaluablebrand,wefeeladeepresponsibilitytoensurealltheworkwearedoingacrossthesustainabilityspectrumiscreatingtangiblevalueforoursystemandforthecommunitiesweserve.fromhelpingrebuildhaiti’sfarmingindustrytoempowering5 millionwomenentrepreneursacrossourvaluechainby2020,oursustainabilityeffortsarecentraltoour2020Visionofdoublingourbusinessinthenext10years.aleTTerFroMourChairMananDChieFexeCuTiVeoFFiCer2010AnnualReview3agloBalPiCTureoFSuCCeSSAsyouwillseeinthepagestofollow,ourbusinessandourbrandsarestrongerandgrowingaroundtheworld.in2010,wegainedvolumeandvaluemarketshareglobally,aswellasinbothournorthAmericaandinternationaloperations.oursparklingbeveragebusinessisgrowingineveryoperatinggrouparoundtheworld.nowhereisitgrowingfaster,however,thaninoureurasia&Africagroup,where,in2010,TrademarkCoca-Colavolumeincreased9 percentandSpritevolumeincreased14 percent.oneofthemostexcitingsparklingbeveragedevelopmentsinoureurasia&Africagroupisrussia’srecentsuccesswithbrandcoca-cola.ourflagshipbrandgrew26 percentin2010,representingourlargesteveryear-over-yearincrementalvolumegrowthinRussia.nottoolongago,cynicsweredismissingeuropeasamarketofdiminishingreturnsforsparklingbeverages.however,therealityisjusttheopposite.evenintherecentchallengingeconomicconditions,trademarkCoca-Colaisgrowingacrossoureuropegroup,buoyedbynewrecruitmentstrategiesforbrandcoca-cola,newinnovativepackagingdesignsandmarketingforcoca-colalight,andthecontinuedmomentumofcoca-colaZero.ourstillbeverageportfolioisgrowinggloballyaswell.inourlatinAmericagroup,forexample,twoofourbiggestgrowthstarsaredelvalleandleão.DelValleisnowtheleadingjuicedrinkbrandintheregion,whileleãocommandsaleadingpositionintheimportantbrazilianready-to-drinkteacategory.WehavealsomadegreatprogresswithourstillbeverageportfolioacrossourPacificgroup,especiallywiththeadditionofMinuteMaidPulpy.thisexcitingnewjuicedrinkisuniquetoourportfolioofbilliondollarbrandsinatleastoneimportantway.itwasourfirstbilliondo