(in millions except
per share data, ratios and growth rates)
Net operating revenues
$
21,044
$
19,564
8
%
Operating income
$
5,221
$
5,458
(4
)%
Net income before cumulative effect
of accounting change
$
4,347
$
3,976
9
%
Net income
$
4,347
$
3,050
43
%
Net income per share before cumulative effect
of accounting change (basic and diluted)
$
1.77
$
1.60
11
%
Net income per share (basic and diluted)
$
1.77
1
$
1.23
2
44
%
Net cash provided by operating activities
$
5,456
$
4,742
15
%
Dividends paid
$
(2,166
)
$
(1,987
)
9
%
Share repurchase activity
$
(1,482
)
$
(707
)
110
%
Return on capital
24.5
%
24.5
%
Return on common equity
33.6
%
34.3
%
Unit case volume (in billions)
International operations
13.7
13.1
5
%
North America operations
5.7
5.6
2
%
Worldwide
19.4
18.7
4
%
1
2003 basic and diluted net income
per share included a net decrease of $0.18 as a result
of the following items: a $0.15 per share decrease related
to the Company’s streamlining initiatives primarily
in North America and Germany; a $0.05 per share noncash
decrease related to the consummation of a merger by one
of our Company’s equity method investees, Coca-Cola
FEMSA, S.A. de C.V. with another of the Company’s
equity method investees, Panamerican Beverages, Inc.;
and a $0.01 per share increase related to a settlement
with certain defendants in a vitamin antitrust litigation
matter. Per share amounts do not add due to rounding.
2
2002 basic and diluted net income per share included a net decrease of $0.43 as a result of the following items: a $0.37 per share decrease related to the cumulative effect of a change in accounting principle resulting from the adoption of Statement of Financial Accounting
Standards (SFAS) No. 142, “Goodwill
and Other Intangible Assets”; a $0.06 per share decrease primarily related to the write-down of our investments in Latin America; a $0.01 per share decrease related to the Company’s share of charges taken by certain investees in Latin America; and a $0.01 per share increase
related to our Company’s share of a gain recognized by an investee in Latin America, Cervejarias Kaiser S.A.
