Coca-Cola Consolidated Inc.

Vertical Analysis Balance Sheet

For the years 2016 and 2017

Assets 2017
Current Assets Amount
Cash & Short Term Investments 21.00
Cash Only 17.00
Short-Term Investments 4.00
Total Accounts Receivable 529.00
Accounts Receivables, Net 454.00
Accounts Receivables, Gross 462.00
Bad Debt/Doubtful Accounts -8.00
Other Receivables 75.00
Inventories 184.00
Finished Goods 116.00
Raw Materials 33.00
Progress Payments & Other 34.00
Other Current Assets 60.00
Prepaid Expenses 43.00
Miscellaneous Current Assets 18.00
Total Current Assets 795.00

Non-Current Assets
Net Property, Plant & Equipment 1061.00
Property, Plant & Equipment - Gross 1895.00
Buildings 211.00
Land & Improvements 79.00
Machinery & Equipment 803.00
Construction in Progress 25.00
Leases 96.00
Computer Software and Equipment 113.00
Transportation Equipment 351.00
Other Property, Plant & Equipment 215.00
Accumulated Depreciation 833.00
Total Investments and Advances 7.00
LT Investment - Affiliate Companies 7.00
Intangible Assets 1101.00
Net Goodwill 169.00
Net Other Intangibles 932.00
Other Assets 109.00
Tangible Other Assets 109.00
Total Assets 3267.00
Liabilities and Shareholder's Equity 2017
Current Liabilities Amount
ST Debt & Current Portion LT Debt 8.00
Current Portion of Long Term Debt 8.00
Accounts Payable 368.00
Income Tax Payable -
Other Current Liabilities 263.00
Accrued Payroll 100.00
Miscellaneous Current Liabilities 164.00
Total Current Liabilities 639.00

Non-Current Liabilities
Long-Term Debt 1,123.00
Long-Term Debt excl. Capitalized Leases 1,088.00
Non-Convertible Debt 1,088.00
Capitalized Lease Obligations 35.00
Provision for Risks & Charges 476.00
Deferred Taxes 112.00
Deferred Taxes - Credit 307.00
Deferred Taxes - Debit 194.00
Other Liabilities 263.00
Other Liabilities (excl. Deferred Income) 263.00
Total Liabilities 2,808.00

Shareholder's Equity
Common Equity (Total) 367.00
Common Stock Par/Carry Value 13.00
Additional Paid-In Capital/Capital Surplus 120.00
Retained Earnings 389.00
Cumulative Translation Adjustment/Unrealized For. Exch. Gain -
Other Appropriated Reserves (94.00)
Treasury Stock (61.00)
Total Shareholders' Equity 367.00
Accumulated Minority Interest 92.00
Total Equity 459.00

Liabilities & Shareholders' Equity 3,267.00

d Inc.
Sheet
2017

2017 2016 Assets

% Amount % Current Assets
0.64 22.00 3.70 Cash & Short Term Investments
0.52 22.00 3.70
0.12 - -
16.19 365.00 61.45 Total Accounts Receivable
57.11 335.00 56.40
58.11 339.00 57.07
-1.01 -4.00 -0.67
9.43 30.00 5.05
23.14 144.00 24.24 Inventories
14.59 90.00 15.15
4.15 23.00 3.87
4.28 30.00 5.05
7.55 64.00 10.77 Other Current Assets
5.41 - -
2.26 64.00 10.77
100 594.00 100 Total Current Assets

Non-Current Assets
32.48 847.00 31.56 Net Property, Plant & Equipment
58.00 1706.00 63.56
6.46 201.00 7.49
2.42 69.00 2.57
24.58 714.00 26.60
0.77 15.00 0.56
2.94 94.00 3.50
3.46 105.00 3.91
10.74 317.00 11.81
6.58 191.00 7.12
25.50 859.00 32.00
6.42 22.00 0.82 Total Investments and Advances
0.21 22.00 0.82
33.70 923.00 34.39 Intangible Assets
5.17 145.00 5.40
28.53 778.00 28.99
3.34 64.00 2.38 Other Assets
3.34 64.00 2.38
100 2684.00 100 Total Assets
2017 2016 Liabilities and Shareholder's Equity
% Amount % Current Liabilities
1.25 8.00 1.75 ST Debt & Current Portion LT Debt
1.25 8.00 1.75
57.59 252.00 55.02 Accounts Payable
- - - Income Tax Payable
41.16 198.00 43.23 Other Current Liabilities
15.65 85.00 18.56
25.67 114.00 24.89
389.63 458.00 100 Total Current Liabilities

Non-Current Liabilities
39.99 948.00 40.84 Long-Term Debt
38.75 907.00 39.08
38.75 907.00 39.08
1.25 41.00 1.77
16.95 364.00 15.68 Provision for Risks & Charges
3.99 175.00 7.54 Deferred Taxes
10.93 409.00 290.07
6.91 235.00 10.12
9.37 141.00 6.07 Other Liabilities
9.37 141.00 6.07
100 2,321.00 100 Total Liabilities

Shareholder's Equity
11.23 277.00 10.32 Common Equity (Total)
0.40 13.00 0.48
3.67 117.00 4.36
11.91 302.00 11.25
- - -
(2.88) (93.00) (3.46)
(1.87) (61.00) (2.27)
11.23 277.00 10.32 Total Shareholders' Equity
2.82 86.00 3.20 Accumulated Minority Interest
14.05 363.00 13.52 Total Equity

100 2,684.00 100 Liabilities & Shareholders' Equity

 Coca-Cola Consolidated Inc.
Vertical Analysis Balance Sheet
For the years 2015 and 2016

Assets 2016
Current Assets Amount %
Cash & Short Term Investments 22.00 3.70
Cash Only 22.00 3.70
Short-Term Investments - -
Total Accounts Receivable 365.00 61.45
Accounts Receivables, Net 335.00 56.40
Accounts Receivables, Gross 339.00 57.07
Bad Debt/Doubtful Accounts -4.00 (0.67)
Other Receivables 30.00 5.05
Inventories 144.00 24.24
Finished Goods 90.00 15.15
Raw Materials 23.00 3.87
Progress Payments & Other 30.00 5.05
Other Current Assets 64.00 10.77
Prepaid Expenses - -
Miscellaneous Current Assets 64.00 10.77
Total Current Assets 594.00 100

Non-Current Assets
Net Property, Plant & Equipment 847.00 31.56
Property, Plant & Equipment - Gross 1706.00 63.56
Buildings 201.00 7.49
Land & Improvements 69.00 2.57
Machinery & Equipment 714.00 26.60
Construction in Progress 15.00 0.56
Leases 94.00 3.50
Computer Software and Equipment 105.00 3.91
Transportation Equipment 317.00 11.81
Other Property, Plant & Equipment 191.00 7.12
Accumulated Depreciation 859.00 32.00
Total Investments and Advances 22.00 0.82
LT Investment - Affiliate Companies 22.00 0.82
Intangible Assets 923.00 34.39
Net Goodwill 145.00 5.40
Net Other Intangibles 778.00 28.99
Other Assets 64.00 2.38
Tangible Other Assets 64.00 2.38
Total Assets 2684.00 100
Liabilities and Shareholder's Equity 2016
Current Liabilities Amount %
ST Debt & Current Portion LT Debt 8.00 1.75
Current Portion of Long Term Debt 8.00 1.75
Accounts Payable 252.00 55.02
Income Tax Payable - -
Other Current Liabilities 198.00 43.23
Accrued Payroll 85.00 18.56
Miscellaneous Current Liabilities 114.00 24.89
Total Current Liabilities 458.00 100

Non-Current Liabilities
Long-Term Debt 948.00 40.84
Long-Term Debt excl. Capitalized Leases 907.00 39.08
Non-Convertible Debt 907.00 39.08
Capitalized Lease Obligations 41.00 1.77
Provision for Risks & Charges 364.00 15.68
Deferred Taxes 175.00 7.54
Deferred Taxes - Credit 409.00 17.62
Deferred Taxes - Debit 235.00 10.12
Other Liabilities 141.00 6.07
Other Liabilities (excl. Deferred Income) 141.00 6.07
Total Liabilities 2,321.00 100

Shareholder's Equity
Common Equity (Total) 277.00 10.32
Common Stock Par/Carry Value 13.00 0.48
Additional Paid-In Capital/Capital Surplus 117.00 4.36
Retained Earnings 302.00 11.25
Cumulative Translation Adjustment/Unrealized For. Exch. Gain -
Other Appropriated Reserves (93.00) (3.46)
Treasury Stock (61.00) (2.27)
Total Shareholders' Equity 277.00 10.32
Accumulated Minority Interest 86.00 3.20
Total Equity 363.00 13.52

Liabilities & Shareholders' Equity 2,684.00 100

 2015
Amount %
55.00 12.64
55.00 12.64
-
237.00 54.48
213.00 48.97
215.00 49.43
-2.00 (0.46)
24.00 5.52
89.00 20.46
56.00 12.87
12.00 2.76
21.00 4.83
53.00 12.18
-
53.00 12.18
435.00 100

566.00 27.92
1,350.00 66.60
134.00 6.61
25.00 1.23
565.00 27.87
25.00 1.23
98.00 4.83
98.00 4.83
252.00 12.43
154.00 7.60
784.00 38.68
-
-
782.00 38.58
118.00 5.82
664.00 32.76
64.00 3.16
64.00 3.16
2,027.00 100
 2015
Amount %
7.00 2.14
7.00 2.14
162.00 49.54
- -
157.00 48.01
69.00 21.10
88.00 26.91
327.00 100

668.00 39.20
620.00 36.38
620.00 36.38
49.00 2.88
224.00 13.15
147.00 8.63
327.00 19.19
180.00 10.56
138.00 8.10
138.00 8.10
1,704.00 100

243.00 11.99
13.00 0.64
113.00 5.57
261.00 12.88
- -
(82.00) (4.05)
(61.00) (3.01)
243.00 11.99
79.00 3.90
322.00 15.89

2,027.00 100