KO · 10-Q · 2026Q3 · Full report

Capital Allocation

COCA COLA CO · 2026-07-29 · Importance 58 · Surprise 42 · In source text

The Company expects 2026 capital expenditures of approximately $2.2 billion and plans to repurchase shares to offset dilution from employee stock-based compensation. Six-month treasury-stock cash outflow was $663 million, including $549 million for 7.3 million shares repurchased under the Board-authorized plan at an average $75.53 per share. Six-month dividend payments were $4.562 billion, compared with $2.283 billion in the prior-year period.

Key facts

• The Company currently expects 2026 capital expenditures to be approximately $2.2 billion.
• During 2026 the Company expects to repurchase shares to offset dilution resulting from employee stock-based compensation.
• During the six months ended July 3, 2026 the total cash outflow for treasury stock purchases was $663 million and the Company repurchased 7.3 million shares of common stock under the share repurchase plan at an average cost of $75.53 per share for a total cost of $549 million.
• During the six months ended June 27, 2025 the total cash outflow for treasury stock purchases was $472 million and the Company repurchased 5.4 million shares at an average cost of $66.27 per share for a total cost of $360 million.
• The Company’s current capital allocation priorities include investing to support operations, growing the dividend, enhancing the beverage portfolio through consumer-centric acquisitions, and using excess cash to repurchase shares over time.
• Purchases of property, plant and equipment were $684 million and $751 million during the six months ended July 3, 2026 and June 27, 2025, respectively.
• The net impact of the Company’s issuances of stock and share repurchases during the six months ended July 3, 2026 resulted in a net cash outflow of $412 million.
• The net impact of the Company’s issuances of stock and share repurchases during the six months ended June 27, 2025 resulted in a net cash outflow of $249 million.

Impact estimates