Sources & data notes
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The Coca-Cola Company (EDGAR CIK 21344) has never reported the 1985 formula as a separate line, and EDGAR’s full-text search, which starts in 2001, finds the name in only one of its filings: the July 2019 earnings release. The primary sources here are therefore the wire reports of 1985 and the company’s own published history. Several newspaper archives were closed to us; the notes below say which articles we read in full, which in part, and how.
Data notes (8)
Data notes
Derived: 31,600 ÷ 400 = 79 and 31,600 ÷ 2 = 15,800 calls a day.1 200M aware − 110M tried = 90M.5 “At most 41%” is 100 − 59 from the Shapiro survey.6 The rise of about 54% in the share price is $115 ÷ $74.75.9 The 79 days are Coca-Cola’s own count from April 23 to July 11.1
Mixed series: The card sparkline and the share arc (0, 21.7, 3, 0.1, 0) combine a Beverage Digest figure for the old formula’s share quoted by UPI6, two figures from a 1999 secondary account16, and zeros as plotting conventions. It is an illustration of scale, not a measured series.
Unverified: The 3% and 0.1% shares for the 1985 formula come from Snopes, which cites books we did not read.16 The 50,000 cans of the 2019 run are Mother Jones’s figure; Coca-Cola’s page gives none, and other counts circulate that we could not trace.2527 Goizueta’s “the surest move ever made” is quoted from a 2015 history, not from a 1985 report we opened.23 That Coke II was used more widely from 1992 rests on two later summaries.2122
Conflicts between sources: The end of the product is 2002 in Mental Floss and The Henry Ford and 2004 in the Associated Press.192122 The reversal was announced on July 10 according to UPI and Time, with the press conference on July 11; UPI’s July 24 report says July 9.67818 The pre-launch tests covered “nearly 200,000” people in the company’s history and “over 190,000” in its spokesman’s words in 1985.14 The duration of the testing is three years in Time and four in a 2018 Washington Post summary.824 Coke’s 1984 share is 21.7% in UPI and 21.8% in a later Time article citing The New York Times; Dyson said “about 23 percent.”5623 Peak daily calls are 1,500 in the company’s account and in UPI, and “as many as 8,000” in one later history.1523 The Henry Ford dates the Coke II name to 1992; the Washington Post and Lewiston Tribune show it on test in 1990.121322
Unknown: Sales of the 1985 formula in any year. The cost of the reformulation, launch and reversal. The results of the Spokane test and the list of markets that later carried Coke II. The exact date the last Coke II was made. How many cans were produced in 2019.
How we read the sources: The UPI and Time articles could not be opened as raw pages; we read them through a text-extraction tool. For four UPI articles it returned the full text4569 and for the rest a list of the sentences with figures and quotations or a summary78111423, so those figures and quotations should be checked against the linked pages before being reused. The Washington Post archive pages show only their opening paragraphs without a subscription, and we cite them only for what those paragraphs say.2312 We could not open The New York Times’s 1985 coverage and do not cite it. The Keough quotation is taken from Snopes’s transcription.16
Images: The two photographs are from Wikimedia Commons, marked public domain by their uploaders, and are undated.30 The Internet Archive was rate-limiting requests while this page was built, so no archived web captures are shown. The accent red and the colours of the drawings were matched by eye to those photographs.
General knowledge: That The Coca-Cola Company is based in Atlanta and PepsiCo in Purchase, New York, and that “Stranger Things” is a Netflix series.