31, 2011 

The Company's net operating revenues increased $1,475 million, or 3 percent. 

The following table illustrates, on a percentage basis, the estimated impact of key factors resulting in the increase (decrease) in net operating revenues for each of our operating segments 

Refer to the heading "Beverage Volume" above for additional information related to changes in our unit case and concentrate sales volumes. 

Refer to the heading "Structural Changes, Acquired Brands and New License Agreements" above for additional information related to the structural changes that impacted our Latin America, North America, Pacific and Bottling Investments operating segments. 

Price, product and geographic mix had a favorable 1 percent impact on our consolidated net operating revenues. Price, product and geographic mix was impacted by a variety of factors and events including, but not limited to, the following: 

Ourconsolidatedresultswereunfavorablyimpactedbygeographicmixasaresultofgrowthinouremerginganddevelopingmarketswhicharerecoveringfromthe global recession at a quicker pace than our developed markets. The revenue per unit sold in our emerging markets is generally less than in developed markets; 

EurasiaandAfricawasfavorablyimpactedasaresultofpriceincreasesacrossanumberofourkeymarketsaswellasimprovedproduct mix; 

LatinAmericawasfavorablyimpactedasaresultofpriceincreasesacrossanumberofourkeymarkets; and 

NorthAmericawasfavorablyimpactedasaresultofpriceincreases,includingpositivepricingforsparkling beverages. 

The unfavorable impact of foreign currency fluctuations decreased our consolidated net operating revenues by 3 percent. The unfavorable impact of changes in foreign currency exchange rates was primarily due to a stronger U.S. dollar compared to certain other foreign currencies, including the euro, Mexican peso, Brazilian real, British pound, South African rand and Australian dollar, which impacted the Eurasia and Africa, Europe, Latin America, Pacific and Bottling Investments operating segments. The unfavorable impact of a stronger U.S. dollar compared to the currencies listed above was partially offset by the impact of a weaker U.S. dollar compared to certain other foreign currencies, including the Japanese yen, which had a favorable impact on our Pacific operating segment. Refer to the heading "Liquidity, Capital Resources and Financial Position — Foreign Exchange" below. 

Year Ended December 31, 2011, versus Year Ended December 31, 2010 

The Company's net operating revenues increased $11,423 million, or 33 percent. 

Net operating revenues for the North America operating segment increased $9,366 million, or 84 percent. This increase primarily reflects the impact of structural changes related to the acquisition of CCE's former North America business in addition to the impact of our license agreements with DPS. Net operating revenues for the North America operating segment also included a 1 percent increase in pricing to retailers, driven by a 2 percent increase in pricing on sparkling beverages, and a 1 percent favorable impact due to foreign currency exchange fluctuations. 

The following table illustrates, on a percentage basis,