• Reported net revenues grew 1% and organic revenue grew 8%
• Gained global value share in nonalcoholic ready-to-drink beverages
• Cash from operations increased to $1.6 billion
• Maintain underlying full-year currency neutral growth expectations
• Reported EPS was $0.35 and comparable EPS was $0.48

ATLANTA, April 22, 2015 – The Coca-Cola Company today reported first quarter 2015 operating results. Muhtar Kent, Chairman and Chief Executive Officer of The Coca-Cola Company said, "We are pleased with our solid progress on the implementation and execution of our global strategic initiatives. Though we are still in the early stages, we see some initial positive indicators that we have the right strategies in place to accelerate growth. However, we continue to view 2015 as a transition year as the benefits from the announced initiatives will take time to fully materialize amidst an uncertain and volatile macroeconomic environment.  We remain committed to leveraging our superior brand portfolio together with our unparalleled global distribution system to continue creating long-term shareowner value."

NOTES

• All references to growth rate percentages and share compare the results of the period to those of the prior year comparable period.
• "Concentrate sales" represents the amount of concentrates, syrups, beverage bases and powders sold by, or used in finished beverages sold by, the Company to its bottling partners or other customers.
• For our geographic operating segments, the reference to "concentrate sales" growth in the table used to reconcile reported net revenue growth represents the percent change attributable to the increase (decrease) in concentrate sales volume (expressed in equivalent unit cases) after considering the impact of structural changes. For our Bottling Investments operating segment, the reference to "reported volume" growth in the table used to reconcile reported net revenue growth represents the percent change in net revenues attributable to the increase (decrease) in unit case volume (computed on a reported basis) for consolidated bottling operations after considering the impact of structural changes.
• "Sparkling beverages" means NARTD beverages with carbonation, including carbonated energy drinks and waters.
• "Still beverages" means nonalcoholic beverages without carbonation, including noncarbonated waters, flavored waters and enhanced waters, juices and juice drinks, teas, coffees, sports drinks and noncarbonated energy drinks.
• All references to volume and volume percentage changes indicate unit case volume, unless otherwise noted. All volume percentage changes are computed based on average daily sales, unless otherwise noted. "Unit case" means a unit of measurement equal to 24 eight- ounce servings of finished beverage.  "Unit case volume" means the number of unit cases (or unit case equivalents) of Company beverages directly or indirectly sold by the Company and its bottling partners to customers.
• First quarter 2015 financial results were impacted by six additional days, and fourth quarter 2015 financial results will be impacted by six fewer days.  Unit case volume results for the quarters are not impacted by the variance in days due to the average daily sales computation referenced above.
• The Company reports its financial results in accordance with accounting principles generally accepted in the United States (GAAP). However, management believes that certain non- GAAP financial measures provide users with additional meaningful financial information that should be considered when assessing the Company’s ongoing performance.  Management also uses these non-GAAP financial measures in making financial, operating and planning decisions and in evaluating the Company's performance.  Non-GAAP financial measures should be viewed in addition to, and not as an alternative for, the Company's reported results prepared in accordance with GAAP. The Company’s non-GAAP financial information does not represent a comprehensive basis of accounting.

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