EXHIBIT 99.1
CAUTIONARY STATEMENT RELATIVE TO FORWARD-LOOKING STATEMENTS
The Private Securities Litigation Reform Act of 1995 (the
Act) provides a safe harbor for forward-looking statements
made by or on behalf of the Company. The Company and its
representatives may from time to time make written or verbal
forward-looking statements, including statements contained
in the Company's filings with the Securities and Exchange
Commission and in its reports to share owners. All
statements which address operating performance, events or
developments that the Company expects or anticipates will
occur in the future, including statements relating to volume
growth, share of sales and earnings per share growth or
statements expressing general optimism about future
operating results, are forward-looking statements within the
meaning of the Act. The forward-looking statements are and
will be based on management's then current views and
assumptions regarding future events and operating
performance.
The following are some of the factors that could cause
actual results to differ materially from estimates contained
in the Company's forward-looking statements:
--The ability to generate sufficient cash flows to support
capital expansion plans, share repurchase programs and
general operating activities.
--Competitive product and pricing pressures and the ability
to gain or maintain share of sales in the global market
as a result of actions by competitors. While the Company
believes its opportunities for sustained, profitable
growth are considerable, unanticipated actions of
competitors could impact its earnings, share of sales and
volume growth.
--Changes in laws and regulations, including changes in
accounting standards, taxation requirements (including
tax rate changes, new tax laws and revised tax law
interpretations) and environmental laws in domestic or
foreign jurisdictions.
--Fluctuations in the cost and availability of raw
materials and the ability to maintain favorable supplier
arrangements and relationships.
--The ability to achieve earnings forecasts, which are
generated based on projected volumes and sales of many
product types, some of which are more profitable than
others. There can be no assurance that the Company will
achieve the projected level or mix of product sales.
--Interest rate fluctuations and other capital market
conditions, including foreign currency rate fluctuations.
Most of the Company's exposures to capital markets,
including interest and foreign currency, are managed on a
consolidated basis, which
allows it to net certain exposures and, thus, take
advantage of any natural offsets. The Company uses
derivative financial instruments to reduce its net
exposure to financial risks. There can be no assurance,
however, that the Company's financial risk management
program will be successful in reducing foreign currency
exposures.
--Economic and political conditions in international
markets, including civil unrest, governmental changes and
restrictions on the ability to transfer capital across
borders.
--The ability to penetrate developing and emerging markets,
which also depends on economic and political conditions,
and how well the Company is able to acquire or form
strategic business alliances with local bottlers and make
necessary infrastructure enhancements to production
facilities, distribution networks, sales equipment and
technology. Moreover, the supply of products in
developing markets must match the customers' demand for
those products, and due to product price and cultural
differences, there can be no assurance of product
acceptance in any particular market.
--The effectiveness of the Company's advertising, marketing
and promotional programs.
--The uncertainties of litigation, as well as other risks
and uncertainties detailed from time to time in the
Company's Securities and Exchange Commission filings.
--Adverse weather conditions, which could reduce demand for
Company products.
--The Company's ability and its customers' and suppliers'
ability to replace, modify or upgrade computer programs
in ways that adequately address the Year 2000 issue.
The foregoing list of important factors is not exclusive.
2
CAUTIONARY STATEMENT RELATIVE TO FORWARD-LOOKING STATEMENTS
The Private Securities Litigation Reform Act of 1995 (the
Act) provides a safe harbor for forward-looking statements
made by or on behalf of the Company. The Company and its
representatives may from time to time make written or verbal
forward-looking statements, including statements contained
in the Company's filings with the Securities and Exchange
Commission and in its reports to share owners. All
statements which address operating performance, events or
developments that the Company expects or anticipates will
occur in the future, including statements relating to volume
growth, share of sales and earnings per share growth or
statements expressing general optimism about future
operating results, are forward-looking statements within the
meaning of the Act. The forward-looking statements are and
will be based on management's then current views and
assumptions regarding future events and operating
performance.
The following are some of the factors that could cause
actual results to differ materially from estimates contained
in the Company's forward-looking statements:
--The ability to generate sufficient cash flows to support
capital expansion plans, share repurchase programs and
general operating activities.
--Competitive product and pricing pressures and the ability
to gain or maintain share of sales in the global market
as a result of actions by competitors. While the Company
believes its opportunities for sustained, profitable
growth are considerable, unanticipated actions of
competitors could impact its earnings, share of sales and
volume growth.
--Changes in laws and regulations, including changes in
accounting standards, taxation requirements (including
tax rate changes, new tax laws and revised tax law
interpretations) and environmental laws in domestic or
foreign jurisdictions.
--Fluctuations in the cost and availability of raw
materials and the ability to maintain favorable supplier
arrangements and relationships.
--The ability to achieve earnings forecasts, which are
generated based on projected volumes and sales of many
product types, some of which are more profitable than
others. There can be no assurance that the Company will
achieve the projected level or mix of product sales.
--Interest rate fluctuations and other capital market
conditions, including foreign currency rate fluctuations.
Most of the Company's exposures to capital markets,
including interest and foreign currency, are managed on a
consolidated basis, which
allows it to net certain exposures and, thus, take
advantage of any natural offsets. The Company uses
derivative financial instruments to reduce its net
exposure to financial risks. There can be no assurance,
however, that the Company's financial risk management
program will be successful in reducing foreign currency
exposures.
--Economic and political conditions in international
markets, including civil unrest, governmental changes and
restrictions on the ability to transfer capital across
borders.
--The ability to penetrate developing and emerging markets,
which also depends on economic and political conditions,
and how well the Company is able to acquire or form
strategic business alliances with local bottlers and make
necessary infrastructure enhancements to production
facilities, distribution networks, sales equipment and
technology. Moreover, the supply of products in
developing markets must match the customers' demand for
those products, and due to product price and cultural
differences, there can be no assurance of product
acceptance in any particular market.
--The effectiveness of the Company's advertising, marketing
and promotional programs.
--The uncertainties of litigation, as well as other risks
and uncertainties detailed from time to time in the
Company's Securities and Exchange Commission filings.
--Adverse weather conditions, which could reduce demand for
Company products.
--The Company's ability and its customers' and suppliers'
ability to replace, modify or upgrade computer programs
in ways that adequately address the Year 2000 issue.
The foregoing list of important factors is not exclusive.
2