Next THE COCA-COLA COMPANY 2004 SUMMARY ANNUAL REPORT Year ended December 31, (in millions except per share data and growth rates) 2004 2003 Percent Change Net operating revenues $ 21,962 $ 21,044 4 % Operating income $ 5,698 $ 5,221 9 % Net income $ 4,847 $ 4,347 12 % Net income per share (basic and diluted) $ 2.00 1 $ 1.77 2 13 % Net cash provided by operating activities $ 5,968 $ 5,456 9 % Dividends paid $ 2,429 $ 2,166 12 % Share repurchase activity $ 1,754 $ 1,482 18 % Unit case volume (in billions)         International operations 14.1 13.7 3 %         North America operations 5.7 5.7 –             Worldwide 19.8 19.4 2 % 1 2004 basic and diluted net income per share included a net decrease of $0.06 as a result of the following items: a $0.13 per share decrease related to impairment charges from write-downs of certain manufacturing investments, an intangible asset, and franchise rights; a $0.03 per share decrease related to the recognition of a valuation allowance on certain deferred taxes of Coca-Cola Erfrischungsgetraenke AG; a $0.02 per share decrease related to a donation to The Coca-Cola Foundation; a $0.05 per share increase related to reversals of previously accrued taxes resulting from favorable resolution of tax matters; a $0.02 per share increase resulting from the realization of certain tax credits related to new tax legislation; a $0.02 per share increase due to an insurance settlement related to the class-action lawsuit that was settled in 2000; a $0.01 per share increase for the Company’s proportionate share of a favorable tax settlement related to one of our equity method investees, Coca-Cola FEMSA, S.A. de C.V.; and a $0.01 per share noncash increase related to gains on issuances of stock by one of our Company’s equity method investees, Coca-Cola Enterprises Inc. Per share amounts do not add due to rounding. 2 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. Next Site Use/Legal   |   www.coca-cola.com