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HomeLatest NewsThe SEC maintains its consultation with Coca-Cola Europacific for its 'intangible' assets

The SEC maintains its consultation with Coca-Cola Europacific for its ‘intangible’ assets

Date: April 14, 2024 Time: 20:18:30

The United States Securities and Exchange Commission (SEC) has questioned the intangible assets worth €11,874 million of Coca-Cola Europacific Partners registered by the multinational in its end-2022 results report.

This was stated by the company in its 2023 closing results report published this Friday. Coca-Cola has indicated that it received correspondence last year from the SEC, and that there is currently an open comment on the accounting policy and information that the company has been publishing for a long time regarding the treatment of bottling rights as intangible assets. . s of indefinite life.

Lack of trust

The company has responded to the comments and will continue to cooperate with the agency should new questions arise. In addition, they have assured that the matter will not have an impact on their cash or their ability to distribute dividends. Regarding ITS Unaudited Consolidated Results, the Company defends that it has acted in accordance with its Current Accounting Policies, which are considered “adequate and consistent” with those used during the preparation of the audited financial statements of the previous period.

In 2023, Coca-Cola Europacific Partners received a net profit of 1,669 million euros, which implies an increase of 9.5% compared to the previous year, as reported this Friday to the National Securities Market Commission (CNMV).

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Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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