Cash Flow Statement

The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.

The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.

Coca-Cola Co., consolidated cash flow statement

US$ in millions

12 months ended:	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Consolidated net income	10,703)	9,571)	9,804)	7,768)	8,985)
Depreciation and amortization	1,128)	1,260)	1,452)	1,536)	1,365)
Stock-based compensation expense	254)	356)	337)	126)	201)
Deferred income taxes	(2)	(122)	894)	(18)	(280)
Equity income, net of dividends	(1,019)	(838)	(615)	(511)	(421)
Foreign currency adjustments	175)	203)	86)	(88)	91)
Significant (gains) losses, net	(492)	(129)	(1,365)	(914)	(467)
Other operating charges	1,741)	1,086)	506)	556)	127)
Other items	(43)	236)	201)	699)	504)
(Increase) decrease in trade accounts receivable	(2)	(69)	(225)	882)	(158)
(Increase) decrease in inventories	(597)	(960)	(135)	99)	(183)
(Increase) decrease in prepaid expenses and other assets	(323)	225)	(241)	78)	(87)
Increase (decrease) in accounts payable and accrued expenses	841)	759)	2,843)	(860)	1,318)
Increase (decrease) in accrued income taxes	(578)	(360)	(566)	(16)	96)
Increase (decrease) in other noncurrent liabilities	(187)	(200)	(351)	507)	(620)
Net change in operating assets and liabilities	(846)	(605)	1,325)	690)	366)
Adjustments to reconcile consolidated net income to net cash provided by operating activities	896)	1,447)	2,821)	2,076)	1,486)
Net cash provided by operating activities	11,599)	11,018)	12,625)	9,844)	10,471)
Purchases of investments	(6,698)	(3,751)	(6,030)	(13,583)	(4,704)
Proceeds from disposals of investments	4,354)	4,771)	7,059)	13,835)	6,973)
Acquisitions of businesses, equity method investments and nonmarketable securities	(62)	(73)	(4,766)	(1,052)	(5,542)
Proceeds from disposals of businesses, equity method investments and nonmarketable securities	430)	458)	2,180)	189)	429)
Purchases of property, plant and equipment	(1,852)	(1,484)	(1,367)	(1,177)	(2,054)
Proceeds from disposals of property, plant and equipment	74)	75)	108)	189)	978)
Collateral (paid) received associated with hedging activities, net	366)	(1,465)	—)	—)	—)
Other investing activities	39)	706)	51)	122)	(56)
Net cash used in investing activities	(3,349)	(763)	(2,765)	(1,477)	(3,976)
Issuances of loans, notes payable and long-term debt	6,891)	3,972)	13,094)	26,934)	23,009)
Payments of loans, notes payable and long-term debt	(5,034)	(4,930)	(12,866)	(28,796)	(24,850)
Issuances of stock	539)	837)	702)	647)	1,012)
Purchases of stock for treasury	(2,289)	(1,418)	(111)	(118)	(1,103)
Dividends	(7,952)	(7,616)	(7,252)	(7,047)	(6,845)
Other financing activities	(465)	(1,095)	(353)	310)	(227)
Net cash used in financing activities	(8,310)	(10,250)	(6,786)	(8,070)	(9,004)
Effect of exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents	(73)	(205)	(159)	76)	(72)
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the year	(133)	(200)	2,915)	373)	(2,581)
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of year	9,825)	10,025)	7,110)	6,737)	9,318)
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of year	9,692)	9,825)	10,025)	7,110)	6,737)

Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).

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Cash flow statement item	Description	The company
Net cash provided by operating activities	Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.	Coca-Cola Co. net cash provided by operating activities decreased from 2021 to 2022 but then slightly increased from 2022 to 2023.
Net cash used in investing activities	Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.	Coca-Cola Co. net cash used in investing activities increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Net cash used in financing activities	Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.	Coca-Cola Co. net cash used in financing activities decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level.

Coca-Cola Co. (NYSE:KO)

Cash Flow Statement