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35
Results of Operations by Segment
The following tables set forth net sales and SOP for our segments for the year ended December 31, 2013 and 2012, as well
as the other amounts necessary to reconcile our total segment results to our consolidated results presented in accordance with U.S.
GAAP (in millions):
For the Year Ended
December 31,
2013 2012
Segment Results — Net sales
Beverage Concentrates $ 1,229 $ 1,221
Packaged Beverages 4,306 4,358
Latin America Beverages 462 416
Net sales $ 5,997 $ 5,995
For the Year Ended
December 31,
2013 2012
Segment Results — SOP
Beverage Concentrates $ 778 $ 774
Packaged Beverages 525 539
Latin America Beverages 61 51
Total SOP 1,364 1,364
Unallocated corporate costs 309 261
Other operating expense, net 9 11
Income from operations 1,046 1,092
Interest expense, net 121 123
Other (expense) income, net 383 (9)
Income before (benefit) provision for income taxes and equity in earnings of
unconsolidated subsidiaries $ 542 $ 978
BEVERAGE CONCENTRATES
The following table details our Beverage Concentrates segment's net sales and SOP for the years ended December 31, 2013
and 2012 (in millions):
For the Year Ended
December 31,
2013 2012 Change
Net sales $ 1,229 $ 1,221 $ 8
SOP 778 774 4
Net Sales. Net sales increased $8 million for the year ended December 31, 2013, compared with the year ended December
31, 2012. The increase was due to an increase in concentrate prices, favorable product mix and lower discounts, which were largely
offset by a 4% decline in concentrate case sales.
SOP. SOP increased $4 million for the year ended December 31, 2013, compared with the year ended December 31, 2012,
primarily due to the gross margin impact of higher net sales and lower labor and benefit costs, partially offset by a higher transfer
pricing allocation and $5 million of higher marketing investments.