Faster, stronger, better. Annual report 2019 creating more smiles with every sip

2019
2018
2017
ROIC
17.7 %
27.7 %
11.0 %
Impact of:
Average cash, cash equivalents and short-term investments
3.0
7.8
7.6
Interest income
(0.5)
(0.6)
(0.5)
Tax on interest income
0.1
0.1
0.2
Mark-to-market net impact
(0.2)
0.2
—
Restructuring and impairment charges
0.5
0.4
0.3
Inventory fair value adjustments and merger and integration charges
0.1
0.1
—
Pension-related settlement charges
0.5
—
—
Net tax related to the TCJ Act
(1.0)
(1.1)
4.5
Other net tax benefits
2.2
(9.7)
0.1
Charges related to cash tender and exchange offers
(0.1)
(0.1)
—
Charges related to the transaction with Tingyi 
(a)
—
—
(0.1)
Venezuela impairment charges
(a)
—
—
(0.2)
Net ROIC, excluding items affecting comparability
22.3 %
24.8 %
22.9 %
(a) See “Item 6. Selected Financial Data” for further information. 
OUR CRITICAL ACCOUNTING POLICIES
An appreciation of our critical accounting policies is necessary to understand our financial results. These 
policies may require management to make difficult and subjective judgments regarding uncertainties, and 
as a result, such estimates may significantly impact our financial results. The precision of these estimates 
and the likelihood of future changes depend on a number of underlying variables and a range of possible 
outcomes. Other than our accounting for pension and retiree medical plans, our critical accounting policies 
do not involve a choice between alternative methods of accounting. We applied our critical accounting policies 
and estimation methods consistently in all material respects and for all periods presented. We have discussed 
our critical accounting policies with our Audit Committee.

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Our critical accounting policies are:
• revenue recognition;
• goodwill and other intangible assets;
• income tax expense and accruals; and
• pension and retiree medical plans.