The Coca-Cola Company (TCCC) reported its fourth quarter and full-year results on Thursday, with revenue falling 6% for the quarter to $9.4bn, from $10bn in the same period in 2015. It would be the seventh quarterly drop for the company. Full-year sales also fell 5% to $42bn, from $44bn in the prior year, blamed on foreign exchange headwinds, weakened economies abroad, cost of acquisitions and divestitures tied to its bottler refranchising.

The soft drinks giant said that costs related to the refranchising of its U.S. bottling operations came in higher than expected and hurt Q4 and full-year results, with fourth quarter net profit declining 55% to $550m, from $1.24bn, while full-year net income fell 11% to $6.5bn, from $7.4bn.