COCA COLA CO 10-Q form for quarterly period ended 2024-06-28, page 2: 
Item 1. Financial Statements


THE COCA-COLA COMPANY AND SUBSIDIARIES


CONSOLIDATED STATEMENTS OF INCOME

(In millions except per share data)

|    |                                                                  |                    |              |                  |              |              |        |        |        |    |        |
|---:|:-----------------------------------------------------------------|:-------------------|:-------------|:-----------------|:-------------|:-------------|:-------|:-------|:-------|:---|:-------|
|  1 |                                                                  | Three Months Ended |              | Six Months Ended |              |              |        |        |        |    |        |
|  2 |                                                                  | June 28,2024       | June 30,2023 |                  | June 28,2024 | June 30,2023 |        |        |        |    |        |
|  3 | Net Operating Revenues                                           | $                  | 12,363       |                  | $            | 11,972       |        | $      | 23,663 | $  | 22,952 |
|  4 | Cost of goods sold                                               | 4,812              |              | 4,912            |              |              | 9,047  | 9,229  |        |    |        |
|  5 | Gross Profit                                                     | 7,551              |              | 7,060            |              |              | 14,616 | 13,723 |        |    |        |
|  6 | Selling, general and administrative expenses                     | 3,549              |              | 3,321            |              |              | 6,900  | 6,506  |        |    |        |
|  7 | Other operating charges                                          | 1,370              |              | 1,338            |              |              | 2,943  | 1,449  |        |    |        |
|  8 | Operating Income                                                 | 2,632              |              | 2,401            |              |              | 4,773  | 5,768  |        |    |        |
|  9 | Interest income                                                  | 275                |              | 224              |              |              | 521    | 392    |        |    |        |
| 10 | Interest expense                                                 | 418                |              | 374              |              |              | 800    | 746    |        |    |        |
| 11 | Equity income (loss) - net                                       | 537                |              | 538              |              |              | 891    | 813    |        |    |        |
| 12 | Other income (loss) - net                                        | 2                  |              | 91               |              |              | 1,515  | 706    |        |    |        |
| 13 | Income Before Income Taxes                                       | 3,028              |              | 2,880            |              |              | 6,900  | 6,933  |        |    |        |
| 14 | Income taxes                                                     | 627                |              | 359              |              |              | 1,314  | 1,299  |        |    |        |
| 15 | Consolidated Net Income                                          | 2,401              |              | 2,521            |              |              | 5,586  | 5,634  |        |    |        |
| 16 | Less: Net income (loss) attributable to noncontrolling interests | (10)               |              | (26)             |              |              | (2)    | (20)   |        |    |        |
| 17 | Net Income Attributable to Shareowners of The Coca-Cola Company  | $                  | 2,411        |                  | $            | 2,547        |        | $      | 5,588  | $  | 5,654  |
| 18 | Basic Net Income Per Share1                                      | $                  | 0.56         |                  | $            | 0.59         |        | $      | 1.30   | $  | 1.31   |
| 19 | Diluted Net Income Per Share1                                    | $                  | 0.56         |                  | $            | 0.59         |        | $      | 1.29   | $  | 1.30   |
| 20 | Average Shares Outstanding - Basic                               | 4,309              |              | 4,325            |              |              | 4,309  | 4,325  |        |    |        |
| 21 | Effect of dilutive securities                                    | 10                 |              | 16               |              |              | 12     | 18     |        |    |        |
| 22 | Average Shares Outstanding - Diluted                             | 4,319              |              | 4,341            |              |              | 4,321  | 4,343  |        |    |        |

1 Calculated based on net income attributable to shareowners of The Coca-Cola Company.

Refer to Notes to Consolidated Financial Statements.

2






Question:  How does Coca-Cola's Net Profit Margin for the six months ended June 28, 2024, compare to the same period in 2023?
Answer: Net Profit Margin for 2024 = (5,588/ 23,663) *100 = 23.62%, Net Profit Margin for 2023 = (5,654 / 22,952) * 100 = 24.64%. The Net Profit Margin decreased from 24.64% in 2023 to 23.62% in 2024.