Coca-Cola Consolidated, Inc.

Listed Company

COKECIK 0000317540NasdaqLarge AcceleratedBottled & Canned Soft Drinks & Carbonated WatersDelawareFY ends Dec 31

Period

FY 2025

Revenue

$7.23B

Net Income

$570.58M

Total Assets

$4.30B

Equity

$-739.72M

Shares Out

7.14M

Op. Cash Flow

$931.90M

Business

Coca‑Cola Consolidated, Inc. distributes, markets and manufactures nonalcoholic beverages across territories in 14 states and the District of Columbia and is the largest Coca‑Cola bottler in the United States. Its products include sparkling beverages and still beverages—such as Coca‑Cola, Sprite, Dasani, energy drinks, juices and ready‑to‑drink teas and coffees—and it also distributes brands licensed from other beverage companies like Dr Pepper and Monster Energy. The company’s operations are organized around bottle/can sales and other sales (including post‑mix, sales to other bottlers, transportation and equipment maintenance) and include manufacturing and supply agreements within the Coca‑Cola system. It serves five principal regional markets (Carolinas, Central, Mid‑Atlantic, Mid‑South and Mid‑West) and sells through grocery, mass merchandise, club, convenience and drug stores, on‑premise locations and vending channels.

Summary from filing dated 2025-02-20

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	7,228	6,900	6,654	6,201	5,563
Cost of sales	4,356	4,147	4,055	3,923	3,609
Gross profit	2,872	2,753	2,599	2,278	1,954
Selling, delivery and administrative expenses	1,922	1,833	1,764	1,637	1,515
Income from operations	951	920	834	641	439
Interest expense (income), net	43	2	−918,000	25	—
Mark-to-market on acquisition related contingent consideration	132	59	159	32	146
Pension plan settlement expense	0	0	113	0	0
Other expense, net	3	3	6	9	4
Income before taxes	773	857	557	575	255
Income tax expense	202	224	149	145	66
Net income	571	633	408	430	190

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	282	1,136	635	198	142
Short-term investments	0	301	0	—	—
Allowance for doubtful accounts	−11	−15	−16	−16	−17
Accounts receivable, other	55	41	68	55	34
Inventories	336	330	322	348	303
Prepaid expenses and other current assets	109	96	89	94	78
Total current assets	1,427	2,547	1,705	1,246	1,077
Property, plant and equipment, net	1,605	1,505	1,321	1,184	1,031
Right-of-use assets - operating leases	117	112	123	141	140
Leased property under financing leases, net	1	3	5	6	64
Other assets	216	181	145	116	120
Goodwill	166	166	166	166	166
Total assets	4,303	5,313	4,289	3,710	3,446
Current portion of obligations under operating leases	24	23	26	28	22
Current portion of obligations under financing leases	556,000	3	2	2	6
Other accrued liabilities	307	247	238	201	227
Accrued compensation	155	169	147	127	111
Current portion of debt	100	350	0	—	—
Total current liabilities	1,129	1,313	1,091	905	835
Deferred income taxes	144	133	128	150	136
Pension and postretirement benefit obligations	69	59	61	60	93
Other liabilities	919	860	866	753	759
Noncurrent portion of obligations under operating leases	95	92	102	119	122
Noncurrent portion of obligations under financing leases	1	2	5	8	65
Long-term debt	2,686	1,437	599	599	723
Total liabilities	5,043	3,896	2,853	2,594	2,734
Commitments and Contingencies	—	—	—	—	—
Additional paid in capital	24	24	136	136	136
Retained (deficit) earnings	−824	1,395	1,352	1,112	724
Accumulated other comprehensive (loss) income	−6	2	−4	−85	−100
Total (deficit)/equity	−740	1,418	1,436	1,115	712
Total liabilities and (deficit)/equity	4,303	5,313	4,289	3,710	3,446

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total depreciation and amortization expense	195	170	153	—	—
Amortization of intangible assets and deferred proceeds, net	23	23	23	24	23
Deferred income taxes	14	3	−49	9	−9
Amortization of debt costs	3	2	991,000	1	1
Loss on sale of property, plant and equipment	644,000	3	7	6	6
Pension plan settlement expense	0	0	113	0	0
Change in current assets less current liabilities	11	−4	29	−75	31
Change in other noncurrent assets	7	9	13	32	16
Change in other noncurrent liabilities	−24	−23	−48	−33	−24
Total adjustments	361	243	402	124	332
Net cash provided by operating activities	932	876	811	555	522
Proceeds from the disposal of short-term investments	696	150	0	—	—
Purchases of short-term investments	−390	−446	0	0	—
Additions to property, plant and equipment	−312	−371	−282	−299	−156
Investment in equity method investees	−20	−16	−14	−3	−3
Proceeds from the sale of property, plant and equipment	7	569,000	695,000	7	5
Net cash used in investing activities	−19	−682	−295	−325	−162
Payments related to share repurchases	−2,606	−626	0	0	—
Proceeds from term loan facility upon modification	950	0	0	—	—
Repayment of bridge loan upon extinguishment	−800	0	0	—	—
Repayment of senior bonds	−350	0	0	—	—
Cash dividends paid	−87	−186	−47	−9	−9
Payments of acquisition related contingent consideration	−69	−64	−28	−37	−39
Debt issuance fees	−3	−16	−340,000	−310,000	−2
Payments on financing lease obligations	−2	−2	−2	−3	−5
Net cash (used in) provided by financing activities	−1,767	306	−78	−174	−272
Net (decrease) increase in cash and cash equivalents	−854	501	438	55	88

Filings

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