Following a 5-year audit, the Internal Revenue Service notified the Coca-Cola Company that it owes an additional $3.3 billion in federal taxes plus interest for the period of 2007-2009, the company announced last week.

According to Coca-Cola the disputed amount is related to how much taxable income the company should report to the U.S. in connection with its licensing that allows foreign affiliates to sell its products around the world.