and distribution operations, which if implemented will result in additional charges in future periods. However, as of December 31, 2013, the Company had not finalized any additional restructuring plans. The Company does anticipate incurring additional integration costs related to information technology and other initiatives. Refer to Note 18 of Notes to Consolidated Financial Statements. 

In 2013, foreign currency exchange rates unfavorably impacted consolidated operating income by 4 percent. The unfavorable impact of changes in

rates was primarily due to a stronger U.S. dollar compared to certain other foreign currencies, including the South African rand, British pound, Brazilian real, Australian dollar and Japanese yen, 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 euro and Mexican peso, which had a favorable impact on our Europe, Latin America and Bottling Investments operating segments. Refer to the heading "Liquidity, Capital Resources and Financial Position — Foreign Exchange" below. 

Operating income for Eurasia and Africa for the years ended December 31, 2013 and 2012 was$1,087 million and $1,078 million, respectively. In 2013, operating income was unfavorably impacted by fluctuations in foreign currency exchange rates by 8 percent. The segment’s operating income was also favorably impacted by volume and revenue growth during 2013, partially offset by continued investments in our brands and increased operating expenses. 

Operating income for Europe for the years ended December 31, 2013 and 2012 was$2,859 million and $2,960 million, respectively. In 2013, operating income was minimally impacted by fluctuations in foreign currency exchange rates. Operating margin was unfavorably impacted by higher cost of goods sold and higher operating expenses due to the consolidation of the innocent branded juice and smoothie business. Generally, bottling and finished product operations have higher net operating revenues but lower operating margins when compared to concentrate and syrup operations. During 2013, operating income was reduced by $57 million due to charges related to the Company’s productivity and reinvestment program. 

Operating income for the Latin America segment for the years ended December 31, 2013 and 2012 was$2,908 million and $2,879 million, respectively. In 2013, operating income was unfavorably impacted by fluctuations in foreign currency exchange rates by 10 percent. Operating income for the segment was also impacted by favorable pricing across all of the business units and volume growth in the Latin Center and South Latin business units, partially offset by continued investments in the brands, including investments related to the 2014 FIFA World CupTM. 

North America's operating income for the years ended December 31, 2013 and 2012 was$2,432 million and $2,597 million, respectively. In both 2013 and 2012, operating income was minimally impacted by