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): January 31, 1995
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.)
One 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
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Coca-Cola Enterprises Inc. (the "Company") files herewith
its Condensed Consolidated Statements of Operations,
reporting the Company's financial results for the fourth
quarter and full-year 1994.
Item 7. Financial Statements and Exhibits
- ------ ---------------------------------
(c) Exhibits.
99 Condensed Consolidated Statements of Operations
(Unaudited) of the Company, reporting financial
results for the fourth quarter and full-year 1994.
<PAGE>
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 9, 1995 By: LOWRY F. KLINE
--------------------------
Lowry F. Kline
General Counsel
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COCA-COLA ENTERPRISES INC.
EXHIBIT INDEX
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Exhibit No. Page
- ----------- ----
99 Condensed Consolidated Statements of Operations 5
(Unaudited) of the Company, reporting financial
results for the fourth quarter and full-year
1994.
<TABLE>
COCA-COLA ENTERPRISES INC. EXHIBIT 99
PAGE 1 0F 2
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Quarter and Year ended December 31, 1994
(Unaudited; in millions except per share data)
<CAPTION>
Fourth Quarter Full Year
----------------- Percent ----------------- Percent
1994 1993 Change 1994 1993(1) Change
------ ------ ------- ------ ------ -------
<S> <C> <C> <C> <C> <C> <C>
Net Operating Revenues $1,486 $1,322 12% $6,011 $5,465 10%
Cost of sales 923 803 15% 3,703 3,372 10%
------ ------ ------ ------
Gross Profit 563 519 8% 2,308 2.093 10%
Selling, general and administrative
expenses 468 437 7% 1,868 1,708 9%
------ ------ ------ ------
Operating Income 95 82 16% 440 385 14%
Interest expense, net 77 82 (6)% 310 328 (5)%
Other nonoperating expenses, net 1 - 3 2 50%
------ ------ ------ ------
Income Before Income Taxes 17 - 127 55 131%
Income taxes:
Provision (benefit) excluding
rate change - 6 (4) 58 30 93%
Rate change - federal(2) - - - 40
------ ------ ------ ------
Net Income (Loss) 11 4 175% 69 (15)
Preferred stock dividend requirements - - 2 -
------ ------ ------ ------
Net Income (Loss) Applicable to
Common Share Owners $ 11 $ 4 175% 67 (15)
====== ====== ====== ======
Average Common Shares Outstanding 130 129 130 129
====== ====== ====== ======
Net Income (Loss) Per Common
Share (3) - $ 0.09 $ 0.03 200% $ 0.52 $(0.11)
====== ====== ====== ======
Cash Operating Profit Data:
Operating income $ 95 $ 82 16% $ 440 $ 385 14%
Depreciation 73 68 7% 282 254 11%
Amortization 45 40 13% 179 165 8%
------ ------ ------ ------
Cash Operating Profit (4) $ 213 $ 190 12% $ 901 $ 804 12%
====== ====== ====== ======
Bottle and can volume growth -
1994 compared to 1993 (5): 6.5% 8.5%
</TABLE>
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
Quarter and Year ended December 31, 1994
(Unaudited; in millions)
This condensed financial information is prepared for the purpose of filing a
summary of fourth quarter and full-year 1994 financial information, which was
included in the Company's press release on January 31, 1995, 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) Full-year 1993 results reflect a third quarter 1993 $40 million, or
31 cents 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.
(3) Per share data calculated prior to rounding to millions.
(4) Reported full-year 1994 cash operating profit includes the effect of the
acquisitions referred to in note (1) above. After appropriate
adjustments to eliminate the effects of these acquisitions, comparable
full-year 1994 cash operating profit increased approximately 9% as
compared to the same prior year period.
(5) After adjusting fourth quarter and full-year 1994 results for the effect
of acquisitions, comparable physical case, bottle and can volume
increased approximately 6% and 4.5%, respectively, as compared to the
same prior year periods.
