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30
LATIN AMERICA BEVERAGES
The following table details our Latin America Beverages segment's net sales and SOP for the years ended December 31, 2012
and 2011 (in millions):
For the Year Ended
December 31,
2012 2011 Change
Net sales $ 416 $ 418 $ (2)
SOP 51 43 8
Volume. Sales volume increased 2% for the year ended December 31, 2012, as compared with the year ended December 31,
2011, as volume increased in virtually all of our brands except Aguafiel. The increase in volume was led by a 5% increase in
Peñafiel as a result of package innovations, an 11% increase in Crush, a 14% increase in Clamato and a double-digit increase in
Dr Pepper due to targeted marketing programs. These increases in sales volume were partially offset by a 9% decrease in Aguafiel
as a result of lower promotional activity.
Net Sales. Net sales decreased $2 million for the year ended December 31, 2012, compared with the year ended December
31, 2011. Net sales decreased as a result of $21 million of unfavorable foreign currency translation and a $7 million reclassification
for certain transportation allowances to our customers from SG&A expenses to net sales. These decreases were partially offset by
increased sales volumes, favorable product mix and price increases.
SOP. SOP increased $8 million, or approximately 19%, for the year ended December 31, 2012, compared with the year ended
December 31, 2011, primarily due to the impact of favorable product mix, price increases, increased sales volumes and ongoing
productivity improvements. These increases were partially offset by approximately $9 million of unfavorable foreign currency
effects, higher logistics costs, increased cost for our commodities, led by sweeteners and flavors, and higher marketing investments.