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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): October 2, 1996
COCA-COLA ENTERPRISES INC.
(Exact name of registrant as specified in its charter)
Delaware 01-09300 58-0503352
(State of (Commission File No.) (IRS Employer
Incorporation) Identification No.)
2500 Windy Ridge Parkway, Atlanta, Georgia 30339
(Address of principal executive offices, including zip code)
(770) 989-3000
(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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On October 2, 1996, Coca-Cola Enterprises (the Company
"Company") issued a press release announcing that the Company
anticipates increased expenses for existing stock-based
compensation and benefits plans in the third quarter
of 1996 compared to the Company's original 1996
expectations and third-quarter 1995 costs.
Item 7. Financial Statements and Exhibits
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(c) Exhibits.
99 Press Release dated October 2, 1996
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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: October 3, 1996
E. LISTON BISHOP III
By:______________________________
E. Liston Bishop III
Assistant Secretary
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COCA-COLA ENTERPRISES INC.
EXHIBIT INDEX
Exhibit No. Page
99 Press Release dated October 2, 1996 5
4
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COCA-COLA ENTERPRISES INC. NEWS RELEASE
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CONTACT: Laura Asman - Media Relations
(770) 989-3023
Margaret Carton - Investor Relations
(770) 989-3622
FOR IMMEDIATE RELEASE
COCA-COLA ENTERPRISES INC. ANNOUNCES INCREASE IN
THIRD-QUARTER 1996 STOCK-PERFORMANCE RELATED EXPENSES
ATLANTA, October 2, 1996 -- Coca-Cola Enterprises today
announced that the Company anticipates increased expenses for
existing stock-based compensation and benefits plans in the
third quarter of 1996 compared to the Company's original 1996
expectations and third-quarter 1995 costs. Based on the
Company's 70 percent year-to-date 1996 stock price growth,
including a 32 percent third-quarter increase, Coca-Cola
Enterprises will increase certain stock-related Selling,
General and Administrative (SG&A) Expenses, primarily noncash
amortization expenses, by approximately $19 million, or
10 cents per common share after tax, in the third quarter of
1996.
"Even with these incremental SG&A Expenses which are a
result of the increase in our stock price, we have not changed
our outlook for at least 9 percent comparable cash operating
profit growth in 1996, nor our outlook for strong earnings per
share growth in 1996 and beyond," commented Summerfield K.
Johnston, Jr., vice chairman and chief executive officer of
Coca-Cola Enterprises.
Expenses resulting from the Company's performance-based
restricted stock and stock option plans represent
approximately $11 million of the incremental SG&A Expenses,
and will increase noncash amortization expense with no impact
on cash operating profit or cash flow. The Company believes
that these performance-based stock compensation plans are
effective tools for maximizing results and share-owner value.
The remaining $8 million of the incremental SG&A Expenses
relate to certain stock-based employee benefits plans and will
reduce cash operating profit.
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Based on current operating trends, even with the
incremental stock-related employee benefits expense,
management expects full-year 1996 comparable cash operating
profit growth of 9 percent that should translate into 20 to
25 percent comparable earnings per share growth. Due to the
Company's evaluation of financial tools to mitigate stock-
related expenses and the significant cost already expensed for
these programs, the Company expects stock-related SG&A
Expenses will decline substantially in future periods.
Coca-Cola Enterprises Inc. (NYSE: CCE) is the world's
largest bottler of liquid nonalcoholic refreshment,
distributing more than 57 percent of The Coca-Cola Company's
United States bottle and can volume. Coca-Cola Enterprises is
also the sole licensed bottler for products of The Coca-Cola
Company in the Netherlands, Belgium, and most of France. The
Company also has pending transactions to acquire bottling
operations in Great Britain, and Nora Beverages Inc., producer
of the Canadian bottled water Naya.
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