Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017

Reported
Selected Financial Data (US$ in millions)
Net operating revenues 33,014  37,266  31,856  35,410 
Total assets 87,296  86,381  83,216  87,896 
Activity Ratio
Total asset turnover 1
0.38 0.43 0.38 0.40
Adjusted
Selected Financial Data (US$ in millions)
Net operating revenues 33,014  37,266  31,856  35,410 
Adjusted total assets 2
85,362  84,493  81,505  88,553 
Activity Ratio
Adjusted total asset turnover 3
0.39 0.44 0.39 0.40
Based on: 10-K (filing date: 2021-02-25), 10-K (filing date: 2020-02-24), 10-K (filing date: 2019-02-21), 10-K (filing date: 2018-02-
23), 10-K (filing date: 2017-02-24).

1
 2020 Calculation
Total asset turnover = Net operating revenues ÷ Total assets
= 33,014 ÷ 87,296 = 0.38

2
 Adjusted total assets. See details »

3
 2020 Calculation
Adjusted total asset turnover = Net operating revenues ÷ Adjusted total assets
= 33,014 ÷ 85,362 = 0.39

Fixed asset turnover ratio

fixed assets.

Fixed assets turnover ratio = revenues

It measures the efficiency of a company in using fixed assets in the

generation of revenue. The higher the better. A high fixed assets ratio means that the company utilizes

its fixed assets well to generate revenues for the company. A low fixed assets turnover ratio means that

the company has overinvested in its Average net fixed assets

Coca cola’s fixed assets turnover ratio is 3.10. This shows that for every dollar held up in fixed assets,

they make $3.89. This shows that the company has less cash being tied up by fixed assets.