Coca Cola : Non-GAAP Financial Measures for Earnings Conference Call Q1 2025

Published: 2025-04-29 08:34:26 ET KO

THE COCA-COLA COMPANY AND SUBSIDIARIES

Reconciliation of GAAP and Non-GAAP Financial Measures

(UNAUDITED)

Reported Gross Margin (GAAP)

Items Impacting Comparability (Non-GAAP)

Comparable Gross Margin (Non-GAAP)

Three Months Ended March 28, 2025

Three Months Ended March 29, 2024

Basis Point Growth

62.59%

62.52%

7

(0.01%)

0.24%

62.60%

62.28%

32

(UNAUDITED)

(In millions except net debt leverage)

Gross Debt and Net Debt:

As of March 28, 2025

Cash and cash equivalents

$ 8,417

Short-term investments

3,579

Marketable securities

1,791

Total cash, cash equivalents, short-term investments and marketable securities (Non-GAAP)

$ 13,787

Loans and notes payable

$ 5,418

Current maturities of long-term debt

163

Long-term debt

43,530

Gross debt (Non-GAAP)

$ 49,111

Net debt (Non-GAAP) 1

$ 35,324

1Net debt is calculated by subtracting total cash, cash equivalents, short-term investments and marketable securities from gross debt.

35,324

17,151

2.1x

$

$

As of March 28, 2025

$ 14,357

2,794

$ 17,151

1,080

March 28, 2025 Trailing Twelve Months

Less income items:

Add expense items:

Earnings before interest, taxes, depreciation and amortization (EBITDA) (Non-GAAP) Items impacting comparability

Comparable EBITDA (Non-GAAP)

Net debt (Non-GAAP) Comparable EBITDA (Non-GAAP) Net debt leverage (Non-GAAP)

THE COCA-COLA COMPANY AND SUBSIDIARIES

Reconciliation of GAAP and Non-GAAP Financial Measures

(UNAUDITED)

(In millions)

Cash and cash equivalents

Short-term investments

Marketable securities

Total cash, cash equivalents, short-term investments and marketable securities (Non-GAAP)

Loans and notes payable

Current maturities of long-term debt

Long-term debt

Gross debt (Non-GAAP)

As of

March 28, 2025

$ 8,417

3,579

1,791

$ 13,787

$ 5,418

163

43,530

$ 49,111

$ 35,324

Net debt (Non-GAAP) 1

1

Net debt is calculated by subtracting total cash, cash equivalents, short-term investments and marketable securities from gross debt.

March 28, 2025 Trailing Twelve Months

Three Months Ended March 28, 2025

Three Months Ended December 31, 2024

Three Months Ended September 27, 2024

Three Months Ended June 28, 2024

$ 13,271

$ 4,057

$ 2,806

$ 3,380

$ 3,028

922

180

204

263

275

733

254

(14)

491

2

1,661

387

431

425

418

1,080

267

2

276

3

268

4

269

$ 14,357

$ 4,277

$ 3,323

$ 3,319

$ 3,438

Income before income taxes

Less income items:

Interest income

Other income (loss) - net

Add expense items:

Interest expense

Depreciation and amortization

Earnings before interest, taxes, depreciation and amortization (EBITDA) (Non-GAAP)

Comparable EBITDA:

Comparable income before income taxes (Non-GAAP)

$ 15,433

$ 3,961

$ 2,916

$ 4,104

$ 4,452

Less income items:

Interest income

922

180

204

263

275

Comparable other income (loss) - net (Non-GAAP)

126

28

31

64

3

Add expense items:

Comparable interest expense (Non-GAAP)

1,686

393

438

431

424

Depreciation and amortization

1,080

267

2

276

3

268

4

269

Comparable EBITDA (Non-GAAP)

$ 17,151

$ 4,413

$ 3,395

$ 4,476

$ 4,867

2

Calculated by subtracting depreciation and amortization of $799 million during the nine months ended September 27, 2024 from depreciation and amortization of $1,075 million during the year ended December 31, 2024.

3

Calculated by subtracting depreciation and amortization of $531 million during the six months ended June 28, 2024 from depreciation and amortization of $799 million during the nine months ended September 27, 2024.

4

Calculated by subtracting depreciation and amortization of $262 million during the three months ended March 29, 2024 from depreciation and amortization of $531 million during the six months ended June 28, 2024.

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Disclaimer

The Coca-Cola Company published this content on April 29, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on April 29, 2025 at 12:33 UTC.