Analysis of Solvency Ratios
Quarterly Data
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Coca-Cola Co., solvency ratios (quarterly data)
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-25), 10-Q (reporting date: 2020-06-26), 10-Q (reporting date: 2020-03-27), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-27), 10-Q (reporting date: 2019-06-28), 10-Q (reporting date: 2019-03-29).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Coca-Cola Co. debt to equity ratio improved from Q2 2023 to Q3 2023 but then deteriorated significantly from Q3 2023 to Q4 2023. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Coca-Cola Co. debt to capital ratio improved from Q2 2023 to Q3 2023 but then deteriorated significantly from Q3 2023 to Q4 2023. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Coca-Cola Co. debt to assets ratio improved from Q2 2023 to Q3 2023 but then deteriorated significantly from Q3 2023 to Q4 2023. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Coca-Cola Co. financial leverage ratio decreased from Q2 2023 to Q3 2023 but then increased from Q3 2023 to Q4 2023 not reaching Q2 2023 level. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Coca-Cola Co. interest coverage ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |
Debt to Equity
Coca-Cola Co., debt to equity calculation (quarterly data)
| Dec 31, 2023 | Sep 29, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jul 1, 2022 | Apr 1, 2022 | Dec 31, 2021 | Oct 1, 2021 | Jul 2, 2021 | Apr 2, 2021 | Dec 31, 2020 | Sep 25, 2020 | Jun 26, 2020 | Mar 27, 2020 | Dec 31, 2019 | Sep 27, 2019 | Jun 28, 2019 | Mar 29, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Loans and notes payable | 4,557) | 3,915) | 4,828) | 5,455) | 2,373) | 3,396) | 4,358) | 3,610) | 3,307) | 1,866) | 1,867) | 1,933) | 2,183) | 5,857) | 9,423) | 13,657) | 10,994) | 10,972) | 13,030) | 11,570) | ||||||
| Current maturities of long-term debt | 1,960) | 2,080) | 1,171) | 811) | 399) | 729) | 788) | 1,039) | 1,338) | 448) | 337) | 2,880) | 485) | 7,508) | 5,181) | 5,642) | 4,253) | 492) | 2,749) | 3,297) | ||||||
| Long-term debt, excluding current maturities | 35,547) | 34,176) | 35,626) | 36,134) | 36,377) | 35,462) | 36,755) | 37,052) | 38,116) | 39,394) | 39,804) | 40,170) | 40,125) | 39,502) | 37,729) | 31,094) | 27,516) | 31,012) | 29,296) | 29,400) | ||||||
| Total debt | 42,064) | 40,171) | 41,625) | 42,400) | 39,149) | 39,587) | 41,901) | 41,701) | 42,761) | 41,708) | 42,008) | 44,983) | 42,793) | 52,867) | 52,333) | 50,393) | 42,763) | 42,476) | 45,075) | 44,267) | ||||||
| Equity attributable to shareowners of The Coca-Cola Company | 25,941) | 26,325) | 26,013) | 25,217) | 24,105) | 22,805) | 23,005) | 24,845) | 22,999) | 22,179) | 22,249) | 20,355) | 19,299) | 18,607) | 17,484) | 18,158) | 18,981) | 18,713) | 18,181) | 17,735) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||||
| Debt to equity1 | 1.62 | 1.53 | 1.60 | 1.68 | 1.62 | 1.74 | 1.82 | 1.68 | 1.86 | 1.88 | 1.89 | 2.21 | 2.22 | 2.84 | 2.99 | 2.78 | 2.25 | 2.27 | 2.48 | 2.50 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Debt to Equity, Competitors2 | ||||||||||||||||||||||||||
| Altria Group Inc. | — | — | — | — | — | — | — | — | — | — | 8.67 | 10.19 | 10.38 | 9.32 | 5.11 | 4.58 | 4.51 | 2.65 | 2.02 | 2.07 | ||||||
| Mondelēz International Inc. | 0.69 | 0.70 | 0.74 | 0.79 | 0.85 | 0.81 | 0.70 | 0.70 | 0.69 | 0.72 | 0.69 | 0.72 | 0.73 | 0.75 | 0.76 | 0.77 | 0.68 | 0.73 | 0.74 | 0.75 | ||||||
| PepsiCo Inc. | 2.38 | 2.38 | 2.47 | 2.45 | 2.28 | 2.07 | 2.12 | 2.20 | 2.51 | 2.60 | 2.76 | 3.13 | 3.28 | 3.31 | 3.60 | 3.06 | 2.17 | 2.30 | 2.24 | 2.24 | ||||||
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-25), 10-Q (reporting date: 2020-06-26), 10-Q (reporting date: 2020-03-27), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-27), 10-Q (reporting date: 2019-06-28), 10-Q (reporting date: 2019-03-29).
1 Q4 2023 Calculation
Debt to equity = Total debt ÷ Equity attributable to shareowners of The Coca-Cola Company
= 42,064 ÷ 25,941 = 1.62
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Coca-Cola Co. debt to equity ratio improved from Q2 2023 to Q3 2023 but then deteriorated significantly from Q3 2023 to Q4 2023. |
Debt to Capital
Coca-Cola Co., debt to capital calculation (quarterly data)
| Dec 31, 2023 | Sep 29, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jul 1, 2022 | Apr 1, 2022 | Dec 31, 2021 | Oct 1, 2021 | Jul 2, 2021 | Apr 2, 2021 | Dec 31, 2020 | Sep 25, 2020 | Jun 26, 2020 | Mar 27, 2020 | Dec 31, 2019 | Sep 27, 2019 | Jun 28, 2019 | Mar 29, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Loans and notes payable | 4,557) | 3,915) | 4,828) | 5,455) | 2,373) | 3,396) | 4,358) | 3,610) | 3,307) | 1,866) | 1,867) | 1,933) | 2,183) | 5,857) | 9,423) | 13,657) | 10,994) | 10,972) | 13,030) | 11,570) | ||||||
| Current maturities of long-term debt | 1,960) | 2,080) | 1,171) | 811) | 399) | 729) | 788) | 1,039) | 1,338) | 448) | 337) | 2,880) | 485) | 7,508) | 5,181) | 5,642) | 4,253) | 492) | 2,749) | 3,297) | ||||||
| Long-term debt, excluding current maturities | 35,547) | 34,176) | 35,626) | 36,134) | 36,377) | 35,462) | 36,755) | 37,052) | 38,116) | 39,394) | 39,804) | 40,170) | 40,125) | 39,502) | 37,729) | 31,094) | 27,516) | 31,012) | 29,296) | 29,400) | ||||||
| Total debt | 42,064) | 40,171) | 41,625) | 42,400) | 39,149) | 39,587) | 41,901) | 41,701) | 42,761) | 41,708) | 42,008) | 44,983) | 42,793) | 52,867) | 52,333) | 50,393) | 42,763) | 42,476) | 45,075) | 44,267) | ||||||
| Equity attributable to shareowners of The Coca-Cola Company | 25,941) | 26,325) | 26,013) | 25,217) | 24,105) | 22,805) | 23,005) | 24,845) | 22,999) | 22,179) | 22,249) | 20,355) | 19,299) | 18,607) | 17,484) | 18,158) | 18,981) | 18,713) | 18,181) | 17,735) | ||||||
| Total capital | 68,005) | 66,496) | 67,638) | 67,617) | 63,254) | 62,392) | 64,906) | 66,546) | 65,760) | 63,887) | 64,257) | 65,338) | 62,092) | 71,474) | 69,817) | 68,551) | 61,744) | 61,189) | 63,256) | 62,002) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||||
| Debt to capital1 | 0.62 | 0.60 | 0.62 | 0.63 | 0.62 | 0.63 | 0.65 | 0.63 | 0.65 | 0.65 | 0.65 | 0.69 | 0.69 | 0.74 | 0.75 | 0.74 | 0.69 | 0.69 | 0.71 | 0.71 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Debt to Capital, Competitors2 | ||||||||||||||||||||||||||
| Altria Group Inc. | 1.16 | 1.16 | 1.16 | 1.18 | 1.17 | 1.19 | 1.10 | 1.07 | 1.06 | 1.05 | 0.90 | 0.91 | 0.91 | 0.90 | 0.84 | 0.82 | 0.82 | 0.73 | 0.67 | 0.67 | ||||||
| Mondelēz International Inc. | 0.41 | 0.41 | 0.43 | 0.44 | 0.46 | 0.45 | 0.41 | 0.41 | 0.41 | 0.42 | 0.41 | 0.42 | 0.42 | 0.43 | 0.43 | 0.44 | 0.40 | 0.42 | 0.42 | 0.43 | ||||||
| PepsiCo Inc. | 0.70 | 0.70 | 0.71 | 0.71 | 0.69 | 0.67 | 0.68 | 0.69 | 0.72 | 0.72 | 0.73 | 0.76 | 0.77 | 0.77 | 0.78 | 0.75 | 0.68 | 0.70 | 0.69 | 0.69 | ||||||
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-25), 10-Q (reporting date: 2020-06-26), 10-Q (reporting date: 2020-03-27), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-27), 10-Q (reporting date: 2019-06-28), 10-Q (reporting date: 2019-03-29).
1 Q4 2023 Calculation
Debt to capital = Total debt ÷ Total capital
= 42,064 ÷ 68,005 = 0.62
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Coca-Cola Co. debt to capital ratio improved from Q2 2023 to Q3 2023 but then deteriorated significantly from Q3 2023 to Q4 2023. |
Debt to Assets
Coca-Cola Co., debt to assets calculation (quarterly data)
| Dec 31, 2023 | Sep 29, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jul 1, 2022 | Apr 1, 2022 | Dec 31, 2021 | Oct 1, 2021 | Jul 2, 2021 | Apr 2, 2021 | Dec 31, 2020 | Sep 25, 2020 | Jun 26, 2020 | Mar 27, 2020 | Dec 31, 2019 | Sep 27, 2019 | Jun 28, 2019 | Mar 29, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Loans and notes payable | 4,557) | 3,915) | 4,828) | 5,455) | 2,373) | 3,396) | 4,358) | 3,610) | 3,307) | 1,866) | 1,867) | 1,933) | 2,183) | 5,857) | 9,423) | 13,657) | 10,994) | 10,972) | 13,030) | 11,570) | ||||||
| Current maturities of long-term debt | 1,960) | 2,080) | 1,171) | 811) | 399) | 729) | 788) | 1,039) | 1,338) | 448) | 337) | 2,880) | 485) | 7,508) | 5,181) | 5,642) | 4,253) | 492) | 2,749) | 3,297) | ||||||
| Long-term debt, excluding current maturities | 35,547) | 34,176) | 35,626) | 36,134) | 36,377) | 35,462) | 36,755) | 37,052) | 38,116) | 39,394) | 39,804) | 40,170) | 40,125) | 39,502) | 37,729) | 31,094) | 27,516) | 31,012) | 29,296) | 29,400) | ||||||
| Total debt | 42,064) | 40,171) | 41,625) | 42,400) | 39,149) | 39,587) | 41,901) | 41,701) | 42,761) | 41,708) | 42,008) | 44,983) | 42,793) | 52,867) | 52,333) | 50,393) | 42,763) | 42,476) | 45,075) | 44,267) | ||||||
| Total assets | 97,703) | 97,578) | 98,456) | 97,404) | 92,763) | 92,471) | 93,169) | 94,064) | 94,354) | 90,606) | 90,194) | 89,993) | 87,296) | 97,184) | 94,689) | 94,013) | 86,381) | 87,433) | 89,996) | 88,347) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||||
| Debt to assets1 | 0.43 | 0.41 | 0.42 | 0.44 | 0.42 | 0.43 | 0.45 | 0.44 | 0.45 | 0.46 | 0.47 | 0.50 | 0.49 | 0.54 | 0.55 | 0.54 | 0.50 | 0.49 | 0.50 | 0.50 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Debt to Assets, Competitors2 | ||||||||||||||||||||||||||
| Altria Group Inc. | 0.68 | 0.69 | 0.73 | 0.69 | 0.72 | 0.77 | 0.75 | 0.69 | 0.71 | 0.71 | 0.64 | 0.61 | 0.62 | 0.63 | 0.58 | 0.57 | 0.57 | 0.53 | 0.51 | 0.49 | ||||||
| Mondelēz International Inc. | 0.27 | 0.28 | 0.29 | 0.31 | 0.32 | 0.32 | 0.29 | 0.29 | 0.29 | 0.30 | 0.29 | 0.29 | 0.30 | 0.30 | 0.31 | 0.31 | 0.29 | 0.31 | 0.30 | 0.30 | ||||||
| PepsiCo Inc. | 0.44 | 0.45 | 0.45 | 0.45 | 0.42 | 0.42 | 0.42 | 0.43 | 0.44 | 0.44 | 0.46 | 0.48 | 0.48 | 0.48 | 0.50 | 0.48 | 0.41 | 0.42 | 0.42 | 0.42 | ||||||
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-25), 10-Q (reporting date: 2020-06-26), 10-Q (reporting date: 2020-03-27), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-27), 10-Q (reporting date: 2019-06-28), 10-Q (reporting date: 2019-03-29).
1 Q4 2023 Calculation
Debt to assets = Total debt ÷ Total assets
= 42,064 ÷ 97,703 = 0.43
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Coca-Cola Co. debt to assets ratio improved from Q2 2023 to Q3 2023 but then deteriorated significantly from Q3 2023 to Q4 2023. |
Financial Leverage
Coca-Cola Co., financial leverage calculation (quarterly data)
| Dec 31, 2023 | Sep 29, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jul 1, 2022 | Apr 1, 2022 | Dec 31, 2021 | Oct 1, 2021 | Jul 2, 2021 | Apr 2, 2021 | Dec 31, 2020 | Sep 25, 2020 | Jun 26, 2020 | Mar 27, 2020 | Dec 31, 2019 | Sep 27, 2019 | Jun 28, 2019 | Mar 29, 2019 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||
| Total assets | 97,703) | 97,578) | 98,456) | 97,404) | 92,763) | 92,471) | 93,169) | 94,064) | 94,354) | 90,606) | 90,194) | 89,993) | 87,296) | 97,184) | 94,689) | 94,013) | 86,381) | 87,433) | 89,996) | 88,347) | ||||||
| Equity attributable to shareowners of The Coca-Cola Company | 25,941) | 26,325) | 26,013) | 25,217) | 24,105) | 22,805) | 23,005) | 24,845) | 22,999) | 22,179) | 22,249) | 20,355) | 19,299) | 18,607) | 17,484) | 18,158) | 18,981) | 18,713) | 18,181) | 17,735) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||||
| Financial leverage1 | 3.77 | 3.71 | 3.78 | 3.86 | 3.85 | 4.05 | 4.05 | 3.79 | 4.10 | 4.09 | 4.05 | 4.42 | 4.52 | 5.22 | 5.42 | 5.18 | 4.55 | 4.67 | 4.95 | 4.98 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Financial Leverage, Competitors2 | ||||||||||||||||||||||||||
| Altria Group Inc. | — | — | — | — | — | — | — | — | — | — | 13.63 | 16.74 | 16.70 | 14.86 | 8.83 | 8.04 | 7.92 | 5.02 | 3.98 | 4.21 | ||||||
| Mondelēz International Inc. | 2.52 | 2.48 | 2.51 | 2.58 | 2.65 | 2.55 | 2.40 | 2.41 | 2.37 | 2.43 | 2.41 | 2.45 | 2.46 | 2.46 | 2.47 | 2.48 | 2.37 | 2.38 | 2.44 | 2.48 | ||||||
| PepsiCo Inc. | 5.43 | 5.31 | 5.42 | 5.46 | 5.38 | 4.98 | 5.02 | 5.11 | 5.76 | 5.88 | 6.04 | 6.54 | 6.91 | 6.83 | 7.17 | 6.32 | 5.31 | 5.48 | 5.38 | 5.31 | ||||||
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-25), 10-Q (reporting date: 2020-06-26), 10-Q (reporting date: 2020-03-27), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-27), 10-Q (reporting date: 2019-06-28), 10-Q (reporting date: 2019-03-29).
1 Q4 2023 Calculation
Financial leverage = Total assets ÷ Equity attributable to shareowners of The Coca-Cola Company
= 97,703 ÷ 25,941 = 3.77
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Coca-Cola Co. financial leverage ratio decreased from Q2 2023 to Q3 2023 but then increased from Q3 2023 to Q4 2023 not reaching Q2 2023 level. |
Interest Coverage
Coca-Cola Co., interest coverage calculation (quarterly data)
Based on: 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-25), 10-Q (reporting date: 2020-06-26), 10-Q (reporting date: 2020-03-27), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-27), 10-Q (reporting date: 2019-06-28), 10-Q (reporting date: 2019-03-29).
1 Q4 2023 Calculation
Interest coverage
= (EBITQ4 2023
+ EBITQ3 2023
+ EBITQ2 2023
+ EBITQ1 2023)
÷ (Interest expenseQ4 2023
+ Interest expenseQ3 2023
+ Interest expenseQ2 2023
+ Interest expenseQ1 2023)
= (2,895 + 3,905 + 3,254 + 4,425)
÷ (413 + 368 + 374 + 372)
= 9.48
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Coca-Cola Co. interest coverage ratio deteriorated from Q2 2023 to Q3 2023 and from Q3 2023 to Q4 2023. |