Coca-Cola sees forex, cost impacts easing in '08

NEW YORK (Reuters) - Coca-Cola Co (KO.N), the world's largest maker of soft drinks, expects moderating impacts from currency fluctuations and commodity costs this year, a senior executive said on Wednesday.

Coke Chief Financial Officer Gary Fayard said currency fluctuations should have a "minimal impact" on operating income in 2008, while commodity costs should be flat for the company, but up slightly for the whole Coca-Cola system, which includes bottlers such as Coca-Cola Enterprises Inc (CCE.N).

Fayard also said Coke plans $1.6 billion to $1.7 billion of capital expenditures in 2008 and plans to spend $1.5 billion to $2 billion buying back shares.

(Reporting by Martinne Geller, editing by Gerald E. McCormick)