Average | ||||||||||||||||||||||||
Summary | Average | |||||||||||||||||||||||
Compensation | Compensation | |||||||||||||||||||||||
Table Total | Actually Paid | Value of Initial Fixed $100 | ||||||||||||||||||||||
Summary | for non-PEO | to non-PEO | Investment on | |||||||||||||||||||||
Compensation | Compensation | Named | Named | 12/31/2020 Based on | Net | |||||||||||||||||||
Table Total for | Actually Paid to |
| Executive |
| Executive | Total | Peer Group Total | Income | Organic |
| ||||||||||||||
PEO | PEO |
| Officers |
| Officers | Shareholder | Shareholder | ($) | Revenue Growth | |||||||||||||||
Year | ($) | ($) |
| ($) | ($) | Return | Return | (millions) | (non-GAAP) | |||||||||||||||
(a) | | (b) | | (c) | | (d) | | (e) | | (f) | | (g) | | (h) | | (i) | | |||||||
2025 | $ | 31,208,165 | $ | 61,649,669 | $ | 9,524,407 | $ | 16,403,251 | $ | 148 | $ | 113 | $ | 13,137 |
| 5.0 | % | |||||||
2024 | 28,002,284 | 40,592,982 | 8,904,383 | 11,638,291 | 128 | 112 | 10,649 | 12.0 | % | |||||||||||||||
2023 | 24,742,908 | 19,275,773 | 7,310,582 | 7,294,876 | 118 | 117 | 10,703 | 11.5 | % | |||||||||||||||
2022 |
| 22,822,519 |
| 54,495,284 |
| 7,731,933 |
| 16,456,021 |
| 123 |
| 122 |
| 9,571 |
| 16.0 | % | |||||||
2021 |
| 24,883,878 |
| 60,511,538 |
| 8,668,505 |
| 15,571,959 |
| 111 |
| 113 |
| 9,804 |
| 15.5 | % | |||||||
Names of PEO and Other NEOs (Column (b); Column (c); Column (d); Column (e))
2025, 2024 and 2023: PEO: James Quincey; Other NEOs: John Murphy, Manuel Arroyo, Henrique Braun and Jennifer Mann
2022: PEO: James Quincey; Other NEOs: John Murphy, Manuel Arroyo, Alfredo Rivera and Brian J. Smith
2021: PEO: James Quincey; Other NEOs: John Murphy, Manuel Arroyo, Alfredo Rivera, Brian J. Smith and Bradley M. Gayton
Adjustments to Calculate Compensation Actually Paid to PEO (Column (c)) and Average Compensation Actually Paid to Other NEOs (Column (e))
The table below describes the adjustments, each of which is required by SEC rules, to calculate CAP from the SCT Total of our PEO (column (b)) and our Other NEOs (column (d)). The SCT Total and CAP do not reflect the actual amount of compensation earned by or paid to our executives during the applicable years, but rather are amounts determined in accordance with Item 402(v).
2025 | | 2024 | | 2023 | 2022 |
| 2021 | |||||||||||||||||||||||
Adjustments | | PEO | | Other NEOs* | | PEO | | Other NEOs* | | PEO | | Other NEOs* | | PEO | | Other NEOs* | | PEO | | Other NEOs* | ||||||||||
SCT Total | $ | 31,208,165 | $ | 9,524,407 | $ | 28,002,284 | $ | 8,904,383 | $ | 24,742,908 | $ | 7,310,582 | $ | 22,822,519 | $ | 7,731,933 | $ | 24,883,878 | $ | 8,668,505 | ||||||||||
Adjustments for defined benefit pension plans | ||||||||||||||||||||||||||||||
(Deduct): Aggregate change in actuarial present value included in SCT Total for the covered fiscal year |
| (1,108,486) |
| (499,608) |
| (996,674) |
| (399,889) |
| (921,282) |
| (396,887) |
| (490,035) |
| (405,368) |
| (293,215) |
| (170,695) | ||||||||||
Add: Service cost for the covered fiscal year |
| 238,135 |
| 124,299 |
| 397,604 |
| 147,204 |
| 375,082 |
| 117,939 |
| 221,266 |
| 101,864 |
| 214,384 |
| 186,283 | ||||||||||
Add: Prior service cost for the covered fiscal year |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 | ||||||||||
Adjustments for stock awards and option awards** | ||||||||||||||||||||||||||||||
(Deduct): Aggregate value for stock awards and option awards included in SCT Total for the covered fiscal year |
| (22,868,364) |
| (5,746,427) |
| (18,137,304) |
| (3,698,129) |
| (15,516,570) |
| (3,663,637) |
| (14,133,339) |
| (4,064,153) |
| (16,472,735) |
| (3,982,125) | ||||||||||
Add: Fair value at year end of awards granted during the covered fiscal year that were outstanding and unvested at the covered fiscal year end |
| 28,513,032 |
| 7,188,633 |
| 31,822,084 |
| 6,597,859 |
| 21,893,789 |
| 5,169,372 |
| 24,679,920 |
| 7,158,191 |
| 39,672,363 |
| 8,896,040 | ||||||||||
Add (Deduct): Year-over-year change in fair value at covered fiscal year end of awards granted in any prior fiscal year that were outstanding and unvested at the covered fiscal year end |
| 20,961,576 |
| 4,754,685 |
| (1,032,728) |
| (25,576) |
| (7,851,512) |
| (1,141,326) |
| 19,902,921 |
| 5,525,189 |
| 15,006,128 |
| 3,307,124 | ||||||||||
Add: Vesting date fair value of awards granted and vested during the covered fiscal year |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 | ||||||||||
Add (Deduct): Change as of the vesting date (from the end of the prior fiscal year) in fair value of awards granted in any prior fiscal year for which vesting conditions were satisfied during the covered fiscal year |
| 4,705,611 |
| 1,057,262 |
| 537,716 |
| 112,439 |
| (3,446,642) |
| (101,167) |
| 1,492,032 |
| 408,365 |
| (2,499,265) |
| (494,044) | ||||||||||
(Deduct): Fair value at end of prior fiscal year of awards granted in any prior fiscal year that failed to meet the applicable vesting conditions during the covered fiscal year |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| (839,129) | ||||||||||
Add: Dividends or other earnings paid on awards in the covered fiscal year prior to vesting if not otherwise included in the SCT Total for the covered fiscal year |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 | ||||||||||
CAP Amounts (as calculated) | $ | 61,649,669 | $ | 16,403,251 | $ | 40,592,982 | $ | 11,638,291 | $ | 19,275,773 | $ | 7,294,876 | $ | 54,495,284 | $ | 16,456,021 | $ | 60,511,538 | $ | 15,571,959 | ||||||||||
* | Amounts presented are averages for the entire group of Other NEOs in each respective year. |
** | To determine the value of stock options included in CAP, the lattice valuation model was used, which differs from the Black-Scholes valuation model that was used at grant date. The lattice valuation model was deemed most appropriate because it is better able to value stock options at varying levels of stock price relative to the option exercise price and is consistent with valuation methodologies permitted under GAAP. |
Total Shareholder Return (Column (f); Column (g))
Total shareholder return assumes that dividends were reinvested on the day of issuance.
Peer Group Total Shareholder Return (Column (g))
The peer group used in this disclosure is the Dow Jones U.S. Food & Beverage Total Return Index, which is the same peer group used in Part II, Item 5 of our Form 10-K.
Net Income (Column (h))
Consolidated net income as reported in the Company’s Consolidated Statements of Income included in our Form 10-K.
Organic Revenue (non-GAAP) Growth (Column (i))
Organic revenue (non-GAAP) growth is referred to as “net operating revenue growth” in our Named Executive Officers’ incentive programs (see “Business Performance Factor” on page 53 in the Compensation Discussion and Analysis). Organic revenue growth is a non-GAAP financial measure that excludes or has otherwise been adjusted for the impact of acquisitions and divestitures, as applicable, and the impact of changes in foreign currency exchange rates. Organic revenue (non-GAAP) growth was determined to be the most important financial performance measure linking CAP to Company performance for 2025 and was therefore selected as the 2025 “Company-Selected Measure” as defined in Item 402(v).
2025, 2024 and 2023: PEO: James Quincey; Other NEOs: John Murphy, Manuel Arroyo, Henrique Braun and Jennifer Mann
2022: PEO: James Quincey; Other NEOs: John Murphy, Manuel Arroyo, Alfredo Rivera and Brian J. Smith
2021: PEO: James Quincey; Other NEOs: John Murphy, Manuel Arroyo, Alfredo Rivera, Brian J. Smith and Bradley M. Gayton
The peer group used in this disclosure is the Dow Jones U.S. Food & Beverage Total Return Index, which is the same peer group used in Part II, Item 5 of our Form 10-K.
The table below describes the adjustments, each of which is required by SEC rules, to calculate CAP from the SCT Total of our PEO (column (b)) and our Other NEOs (column (d)). The SCT Total and CAP do not reflect the actual amount of compensation earned by or paid to our executives during the applicable years, but rather are amounts determined in accordance with Item 402(v).
2025 | | 2024 | | 2023 | 2022 |
| 2021 | |||||||||||||||||||||||
Adjustments | | PEO | | Other NEOs* | | PEO | | Other NEOs* | | PEO | | Other NEOs* | | PEO | | Other NEOs* | | PEO | | Other NEOs* | ||||||||||
SCT Total | $ | 31,208,165 | $ | 9,524,407 | $ | 28,002,284 | $ | 8,904,383 | $ | 24,742,908 | $ | 7,310,582 | $ | 22,822,519 | $ | 7,731,933 | $ | 24,883,878 | $ | 8,668,505 | ||||||||||
Adjustments for defined benefit pension plans | ||||||||||||||||||||||||||||||
(Deduct): Aggregate change in actuarial present value included in SCT Total for the covered fiscal year |
| (1,108,486) |
| (499,608) |
| (996,674) |
| (399,889) |
| (921,282) |
| (396,887) |
| (490,035) |
| (405,368) |
| (293,215) |
| (170,695) | ||||||||||
Add: Service cost for the covered fiscal year |
| 238,135 |
| 124,299 |
| 397,604 |
| 147,204 |
| 375,082 |
| 117,939 |
| 221,266 |
| 101,864 |
| 214,384 |
| 186,283 | ||||||||||
Add: Prior service cost for the covered fiscal year |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 | ||||||||||
Adjustments for stock awards and option awards** | ||||||||||||||||||||||||||||||
(Deduct): Aggregate value for stock awards and option awards included in SCT Total for the covered fiscal year |
| (22,868,364) |
| (5,746,427) |
| (18,137,304) |
| (3,698,129) |
| (15,516,570) |
| (3,663,637) |
| (14,133,339) |
| (4,064,153) |
| (16,472,735) |
| (3,982,125) | ||||||||||
Add: Fair value at year end of awards granted during the covered fiscal year that were outstanding and unvested at the covered fiscal year end |
| 28,513,032 |
| 7,188,633 |
| 31,822,084 |
| 6,597,859 |
| 21,893,789 |
| 5,169,372 |
| 24,679,920 |
| 7,158,191 |
| 39,672,363 |
| 8,896,040 | ||||||||||
Add (Deduct): Year-over-year change in fair value at covered fiscal year end of awards granted in any prior fiscal year that were outstanding and unvested at the covered fiscal year end |
| 20,961,576 |
| 4,754,685 |
| (1,032,728) |
| (25,576) |
| (7,851,512) |
| (1,141,326) |
| 19,902,921 |
| 5,525,189 |
| 15,006,128 |
| 3,307,124 | ||||||||||
Add: Vesting date fair value of awards granted and vested during the covered fiscal year |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 | ||||||||||
Add (Deduct): Change as of the vesting date (from the end of the prior fiscal year) in fair value of awards granted in any prior fiscal year for which vesting conditions were satisfied during the covered fiscal year |
| 4,705,611 |
| 1,057,262 |
| 537,716 |
| 112,439 |
| (3,446,642) |
| (101,167) |
| 1,492,032 |
| 408,365 |
| (2,499,265) |
| (494,044) | ||||||||||
(Deduct): Fair value at end of prior fiscal year of awards granted in any prior fiscal year that failed to meet the applicable vesting conditions during the covered fiscal year |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| (839,129) | ||||||||||
Add: Dividends or other earnings paid on awards in the covered fiscal year prior to vesting if not otherwise included in the SCT Total for the covered fiscal year |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 | ||||||||||
CAP Amounts (as calculated) | $ | 61,649,669 | $ | 16,403,251 | $ | 40,592,982 | $ | 11,638,291 | $ | 19,275,773 | $ | 7,294,876 | $ | 54,495,284 | $ | 16,456,021 | $ | 60,511,538 | $ | 15,571,959 | ||||||||||
* | Amounts presented are averages for the entire group of Other NEOs in each respective year. |
** | To determine the value of stock options included in CAP, the lattice valuation model was used, which differs from the Black-Scholes valuation model that was used at grant date. The lattice valuation model was deemed most appropriate because it is better able to value stock options at varying levels of stock price relative to the option exercise price and is consistent with valuation methodologies permitted under GAAP. |
The table below describes the adjustments, each of which is required by SEC rules, to calculate CAP from the SCT Total of our PEO (column (b)) and our Other NEOs (column (d)). The SCT Total and CAP do not reflect the actual amount of compensation earned by or paid to our executives during the applicable years, but rather are amounts determined in accordance with Item 402(v).
2025 | | 2024 | | 2023 | 2022 |
| 2021 | |||||||||||||||||||||||
Adjustments | | PEO | | Other NEOs* | | PEO | | Other NEOs* | | PEO | | Other NEOs* | | PEO | | Other NEOs* | | PEO | | Other NEOs* | ||||||||||
SCT Total | $ | 31,208,165 | $ | 9,524,407 | $ | 28,002,284 | $ | 8,904,383 | $ | 24,742,908 | $ | 7,310,582 | $ | 22,822,519 | $ | 7,731,933 | $ | 24,883,878 | $ | 8,668,505 | ||||||||||
Adjustments for defined benefit pension plans | ||||||||||||||||||||||||||||||
(Deduct): Aggregate change in actuarial present value included in SCT Total for the covered fiscal year |
| (1,108,486) |
| (499,608) |
| (996,674) |
| (399,889) |
| (921,282) |
| (396,887) |
| (490,035) |
| (405,368) |
| (293,215) |
| (170,695) | ||||||||||
Add: Service cost for the covered fiscal year |
| 238,135 |
| 124,299 |
| 397,604 |
| 147,204 |
| 375,082 |
| 117,939 |
| 221,266 |
| 101,864 |
| 214,384 |
| 186,283 | ||||||||||
Add: Prior service cost for the covered fiscal year |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 | ||||||||||
Adjustments for stock awards and option awards** | ||||||||||||||||||||||||||||||
(Deduct): Aggregate value for stock awards and option awards included in SCT Total for the covered fiscal year |
| (22,868,364) |
| (5,746,427) |
| (18,137,304) |
| (3,698,129) |
| (15,516,570) |
| (3,663,637) |
| (14,133,339) |
| (4,064,153) |
| (16,472,735) |
| (3,982,125) | ||||||||||
Add: Fair value at year end of awards granted during the covered fiscal year that were outstanding and unvested at the covered fiscal year end |
| 28,513,032 |
| 7,188,633 |
| 31,822,084 |
| 6,597,859 |
| 21,893,789 |
| 5,169,372 |
| 24,679,920 |
| 7,158,191 |
| 39,672,363 |
| 8,896,040 | ||||||||||
Add (Deduct): Year-over-year change in fair value at covered fiscal year end of awards granted in any prior fiscal year that were outstanding and unvested at the covered fiscal year end |
| 20,961,576 |
| 4,754,685 |
| (1,032,728) |
| (25,576) |
| (7,851,512) |
| (1,141,326) |
| 19,902,921 |
| 5,525,189 |
| 15,006,128 |
| 3,307,124 | ||||||||||
Add: Vesting date fair value of awards granted and vested during the covered fiscal year |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 | ||||||||||
Add (Deduct): Change as of the vesting date (from the end of the prior fiscal year) in fair value of awards granted in any prior fiscal year for which vesting conditions were satisfied during the covered fiscal year |
| 4,705,611 |
| 1,057,262 |
| 537,716 |
| 112,439 |
| (3,446,642) |
| (101,167) |
| 1,492,032 |
| 408,365 |
| (2,499,265) |
| (494,044) | ||||||||||
(Deduct): Fair value at end of prior fiscal year of awards granted in any prior fiscal year that failed to meet the applicable vesting conditions during the covered fiscal year |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| (839,129) | ||||||||||
Add: Dividends or other earnings paid on awards in the covered fiscal year prior to vesting if not otherwise included in the SCT Total for the covered fiscal year |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 |
| 0 | ||||||||||
CAP Amounts (as calculated) | $ | 61,649,669 | $ | 16,403,251 | $ | 40,592,982 | $ | 11,638,291 | $ | 19,275,773 | $ | 7,294,876 | $ | 54,495,284 | $ | 16,456,021 | $ | 60,511,538 | $ | 15,571,959 | ||||||||||
* | Amounts presented are averages for the entire group of Other NEOs in each respective year. |
** | To determine the value of stock options included in CAP, the lattice valuation model was used, which differs from the Black-Scholes valuation model that was used at grant date. The lattice valuation model was deemed most appropriate because it is better able to value stock options at varying levels of stock price relative to the option exercise price and is consistent with valuation methodologies permitted under GAAP. |
Financial Performance Measures
The following table lists the four financial performance measures that, in the Company’s assessment, represent the most important performance measures used to link CAP for our Named Executive Officers to Company performance for 2025:
Organic Revenue (non-GAAP) Growth (Company-Selected Measure) |
Comparable Currency Neutral Operating Income (non-GAAP) Growth |
Comparable Currency Neutral Earnings Per Share (non-GAAP) Growth |
Cumulative Free Cash Flow (non-GAAP) |
CAP, as calculated in accordance with Item 402(v), reflects, among other items, adjustments to the fair value of equity awards during the years presented. Factors impacting the fair value of equity awards include the price of our Common Stock at year end, as well as the projected and actual achievement of performance goals. These adjustments contributed to the change in CAP reported year-over-year.
Organic Revenue (non-GAAP) Growth (Column (i))
Organic revenue (non-GAAP) growth is referred to as “net operating revenue growth” in our Named Executive Officers’ incentive programs (see “Business Performance Factor” on page 53 in the Compensation Discussion and Analysis). Organic revenue growth is a non-GAAP financial measure that excludes or has otherwise been adjusted for the impact of acquisitions and divestitures, as applicable, and the impact of changes in foreign currency exchange rates. Organic revenue (non-GAAP) growth was determined to be the most important financial performance measure linking CAP to Company performance for 2025 and was therefore selected as the 2025 “Company-Selected Measure” as defined in Item 402(v).