investments are time deposits that have maturities of greater than three months but less than one year, and are classified in the line item short-term investments in our consolidated balance sheets. The Company began investing in longer-term time deposits during the fourth quarter of 2009 to match the maturities of short-term debt issued as part of our commercial paper program. Refer to the heading "Cash Flows from Financing Activities," below. These time deposits are classified in the line item short-term investments in our consolidated balance sheets. 

Acquisitions and Investments 

In 2010, the Company's acquisition and investment activities totaled $2,511 million, which was primarily related to our acquisition of CCE's North American business, DPS license agreements, our acquisition of OAO Nidan Juices ("Nidan"), a Russian juice company, and our additional investment in Fresh Trading Ltd. ("innocent"). The Company and the existing shareowners of innocent have a series of outstanding put and call options for the Company to potentially acquire the remaining shares not already owned by the Company. The put and call options are exercisable in stages between 2013 and 2014. Refer to the heading "Operations Review — Structural Changes, Acquired Brands and New License Agreements," and Note 2 of Notes to Consolidated Financial Statements for additional information related to our acquisitions during the year. 

In 2009, our Company's acquisition and investment activities totaled $300 million. None of the acquisitions or investments was individually significant. Included in these investment activities was the acquisition of a minority interest in innocent. Refer to Note 2 of Notes to Consolidated Financial Statements for additional information related to our acquisitions during the year. 

In 2008, our Company's acquisition and investment activities totaled $759 million, which included the acquisition of brands and licenses in Denmark and Finland from Carlsberg Group Beverages for approximately $225 million. None of the other acquisitions during 2008 was individually significant. Refer to Note 2 of Notes to Consolidated Financial Statements. 

Proceeds from Disposals of Bottling Companies and Other Investments 

In 2010, proceeds from disposals of bottling companies and other investments were $972 million. These proceeds were primarily related to the sale of our Norwegian and Swedish bottling operations to New CCE for approximately $0.9 billion and the sale of 50 percent of our investment in Leão Junior for approximately $83 million. Refer to the 

heading "Operations Review — Structural Changes, Acquired Brands and New License Agreements," and Note 2 of Notes to Consolidated Financial Statements for additional information. 

In 2008, proceeds from disposals of bottling companies and other investments included proceeds of approximately $275 million, net of the cash balance as of the disposal date, related to the sale of Remil to Coca-Cola FEMSA. Refer to Note 17 of Notes to Consolidated Financial Statements. 

Purchases of Property, Plant and Equipment — Net 

Purchases of property, plant and equipment net of disposals for the years ended