SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 2, 1994
COCA-COLA ENTERPRISES INC.
(Exact name of registrant as specified in charter)
Delaware 01-09300 58-0503352
(State of (Commission File No.) (IRS Employer
Incorporation) Identification No.)
Coca-Cola Plaza, N.W., Atlanta, Georgia 30313
(Address of principal executive offices, including zip code)
(404) 676-2100
(Registrant's telephone number, including area code)
Page 1 of 6 pages
Exhibit Index page 4
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Item 5. Other Events
Coca-Cola Enterprises Inc. (the "Company") files herewith its
Combined Consolidated Statements of Operations, reporting the
Company's financial results for the fourth quarter and full-
year 1993.
Item 7. Financial Statements and Exhibits
(c) Exhibits.
99 Combined Condensed Statements of Operations (Unaudited)
of the Company, reporting financial results for the
fourth quarter and full-year 1993.
2
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
COCA-COLA ENTERPRISES INC.
(Registrant)
Date: February 24, 1994 By:/s/ LOWRY F. KLINE
--------------------------
Lowry F. Kline
General Counsel
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COCA-COLA ENTERPRISES INC.
EXHIBIT INDEX
Exhibit No. Page
99 Combined Condensed Statements of Operations 5
(Unaudited) of the Company, reporting financial
results for the fourth quarter and full-year
1993.
4
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COCA-COLA ENTERPRISES INC. EXHIBIT 99
PAGE 1 OF 2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited; in millions except per share data)
Fourth Quarter Fiscal Year
---------------- Percent ---------------- Percent
1993(1) 1992(2) Change 1993(1) 1992 Change
------- ------- ------- ------- ------- -------
Net Operating Revenues $ 1,322 $ 1,279 3% $ 5,465 $ 5,127 7%
Cost of sales 803 805 - 3,372 3,219 5%
------- ------- ------- -------
Gross Profit 519 474 9% 2,093 1,908 10%
Selling, general and
administrative expenses 437 404 8% 1,708 1,602 7%
------- ------- ------- -------
Operating Income 82 70 17% 385 306 26%
Interest expense, net 82 85 (4)% 328 312 5%
Other nonoperating
deductions, net - 2 - 2 6 -
------- ------- ------- -------
Income (Loss) Before Income
Taxes and Cumulative Effect
of Accounting Changes - (17) - 55 (12) -
Income Taxes:
Provision (benefit) excluding
rate change (4) 14 - 30 3 -
Rate change - federal (3) - - - 40 - -
------- ------- ------- -------
Income (Loss) Before
Cumulative Effect of
Accounting Changes 4 (31) - (15) (15) -
Cumulative effect of
accounting changes:
Postretirement benefits -
net of taxes - - - - (148) -
Income taxes - - - - (23) -
------- ------- ------- -------
Net Income (Loss) $ 4 $ (31) - $ (15) $ (186) -
======= ======= ======= =======
Average Common Shares
Outstanding 129 129 - 129 129 -
======= ======= ======= =======
Per Share Data: (4)
Income (loss) before
cumulative effect of
accounting changes $ 0.03 $ (0.24) $ (0.11) $ (0.11)
Cumulative effect of
accounting changes:
Postretirement benefits - - - (1.15)
Income taxes - - - (0.18)
Net income (loss) 0.03 (0.24) (0.11) (1.45)
Dividends per common share 0.0125 0.0125 0.05 0.05
Cash Operating Profit Data:
Operating income $ 82 $ 70 17% $ 385 $ 306 26%
Depreciation 68 63 8% 254 227 12%
Amortization 40 40 - 165 162 2%
------- ------- ------- -------
Cash operating profit (5) $ 190 $ 173 10% $ 804 $ 695 16%
======= ======= ======= =======
Volume Growth - 1993 as
compared to 1992: (6)
Bottle/can volume growth 5% 5.5%
Fountain gallon volume
growth 3.5% 9.5%
See Notes to Condensed Financial Information.
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COCA-COLA ENTERPRISES INC. EXHIBIT 99
PAGE 2 OF 2
NOTES TO CONDENSED FINANCIAL INFORMATION
Fiscal Year Ended December 31, 1993
(Unaudited; in millions)
The Company's press release on the results of operations for the
fourth quarter of and full-year fiscal 1993 was released to the
public on February 2, 1994. This condensed financial information
is prepared for the purpose of filing a summary of fourth quarter
and fiscal year 1993 financial information, which was included in
the Company's press release on February 2, 1994, with the
Securities and Exchange Commission.
(1) On June 30, 1993, the Company acquired from The Coca-Cola
Company: (i) Coca-Cola Beverages Nederland B.V. in the
Netherlands; (ii) Roddy Coca-Cola Bottling Company, Inc.;
and (iii) Coca-Cola Bottling of Johnson City, Tennessee.
The results of operations of these companies are included
in the Condensed Consolidated Statements of Operations
from the beginning of third quarter 1993.
(2) Fourth quarter 1992 results include four more selling
days than fourth quarter 1993.
(3) Fiscal 1993 results include a $40 million ($0.31 per
common share) nonrecurring charge for the revaluation of
the Company's deferred tax liability resulting from the
impact of the Omnibus Budget Reconciliation Act of 1993.
(4) Per share data calculated prior to rounding to millions.
(5) Reported 1993 cash operating profit includes the effect
of acquisitions referred to in note (1) above. Reported
fourth quarter 1992 cash operating profit includes four
more selling days than fourth quarter 1993. In addition,
reported 1992 cash operating profit is not adjusted for
the effect of decreased postretirement benefits expense
realized in 1993 from the redesign and consolidation of
the Company's postretirement benefit plans. After
appropriate adjustments to eliminate the effects of these
differences, comparable 1993 cash operating profit
increased approximately 7% and 8%, respectively, for
fourth quarter and fiscal 1993 as compared to 1992.
(6) Adjusting 1992 volume for the effect of acquisitions and
fourth quarter 1992 for the effect of four additional
selling days as discussed in note (2) above, physical
case bottle/can volume would have increased approximately
3% and 2%, respectively, and fountain gallon volume would
have increased approximately 6% and 8.5%, respectively,
for fourth quarter and fiscal 1993 as compared to 1992.
