Coca-Cola Agrees to $6 Billion Payment in Longstanding IRS Dispute

The beverage giant will pay the back taxes and interest while appealing the tax court's decision on international transfer pricing.

The dispute involves taxes and interest from fiscal years 2007-2009.
Coca-Cola plans to appeal the ruling within 90 days.
The company asserts the IRS changed its method for calculating U.S. income from foreign affiliates.
Coca-Cola believes it is unlikely the appeals court will overturn the tax court's decision.
The company updated its tax reserves in anticipation of the payment.