Quarterly report pursuant to Section 13 or 15(d)

Comprehensive Income

v2.4.1.9
Comprehensive Income
 3 Months Ended
Apr. 03, 2015
Comprehensive Income  
Comprehensive Income
COMPREHENSIVE INCOME
The following table summarizes the allocation of total comprehensive income between shareowners of The Coca-Cola Company and noncontrolling interests (in millions):
 
Three Months Ended April 3, 2015
 
Shareowners of
The Coca-Cola Company

Noncontrolling
Interests

Total

Consolidated net income
$
1,557

$
9

$
1,566

Other comprehensive income:
 
 
 
Net foreign currency translation adjustment
(1,480
)
(6
)
(1,486
)
Net gain (loss) on derivatives1
334

—

334

Net unrealized gain (loss) on available-for-sale securities2
(211
)
—

(211
)
Net change in pension and other benefit liabilities
65

—

65

Total comprehensive income
$
265

$
3

$
268

1 Refer to Note 5 for additional information related to the net gain or loss on derivative instruments designated and qualifying as cash flow hedging instruments.
2 Refer to Note 3 for additional information related to the net unrealized gain or loss on available-for-sale securities.
The following tables present OCI attributable to shareowners of The Coca-Cola Company, including our proportionate share of equity method investees' OCI (in millions):
Three Months Ended April 3, 2015
Before-Tax Amount

 
Income Tax

 
After-Tax Amount

Foreign currency translation adjustments:


 


 


Translation adjustment arising during the period
$
(1,439
)
 
$
(90
)
 
$
(1,529
)
Reclassification adjustments recognized in net income
63

 
(14
)
 
49

Net foreign currency translation adjustments
(1,376
)
 
(104
)
 
(1,480
)
Derivatives:

 

 

Unrealized gains (losses) arising during the period
669

 
(256
)
 
413

Reclassification adjustments recognized in net income
(127
)
 
48

 
(79
)
Net gain (loss) on derivatives1
542

 
(208
)
 
334

Available-for-sale securities:

 

 

Unrealized gains (losses) arising during the period
(312
)
 
120

 
(192
)
Reclassification adjustments recognized in net income
(27
)
 
8

 
(19
)
Net change in unrealized gain (loss) on available-for-sale securities2
(339
)
 
128

 
(211
)
Pension and other benefit liabilities:

 

 

Net pension and other benefits arising during the period
52

 
(17
)
 
35

Reclassification adjustments recognized in net income
47

 
(17
)
 
30

Net change in pension and other benefit liabilities3
99

 
(34
)
 
65

Other comprehensive income (loss) attributable to The Coca-Cola Company
$
(1,074
)
 
$
(218
)
 
$
(1,292
)
1 
Refer to Note 5 for additional information related to the net gain or loss on derivative instruments designated and qualifying as cash flow hedging instruments.
2 
Includes reclassification adjustments related to divestitures of certain available-for-sale securities. Refer to Note 3 for additional information related to these divestitures.
3 
Refer to Note 12 for additional information related to the Company's pension and other postretirement benefit liabilities.
Three Months Ended March 28, 2014
Before-Tax Amount

 
Income Tax

 
After-Tax Amount

Foreign currency translation adjustments:
 
 
 
 
 
Translation adjustment arising during the period
$
(484
)
 
$
99

 
$
(385
)
Reclassification adjustments recognized in net income
—

 
—

 
—

Net foreign currency translation adjustments
(484
)
 
99

 
(385
)
Derivatives:

 

 

Unrealized gains (losses) arising during the period
(123
)
 
48

 
(75
)
Reclassification adjustments recognized in net income
(39
)
 
15

 
(24
)
Net gain (loss) on derivatives1
(162
)
 
63

 
(99
)
Available-for-sale securities:

 

 

Unrealized gains (losses) arising during the period
480

 
(166
)
 
314

Reclassification adjustments recognized in net income
1

 
—

 
1

Net change in unrealized gain (loss) on available-for-sale securities2
481

 
(166
)
 
315

Pension and other benefit liabilities:

 

 

Net pension and other benefits arising during the period
(3
)
 
1

 
(2
)
Reclassification adjustments recognized in net income
14

 
(5
)
 
9

Net change in pension and other benefit liabilities3
11

 
(4
)
 
7

Other comprehensive income (loss) attributable to The Coca-Cola Company
$
(154
)
 
$
(8
)
 
$
(162
)

1 
Refer to Note 5 for additional information related to the net gain or loss on derivative instruments designated and qualifying as cash flow hedging instruments.
2 
Includes reclassification adjustments related to divestitures of certain available-for-sale securities. Refer to Note 3 for additional information related to these divestitures.
3 
Refer to Note 12 for additional information related to the Company's pension and other postretirement benefit liabilities.
The following table presents the amounts and line items in our condensed consolidated statement of income where adjustments reclassified from AOCI into income were recorded during the three months ended April 3, 2015 (in millions):
 
 
Amount Reclassified from
AOCI into Income
 
Description of AOCI Component
Financial Statement Line Item
Three Months Ended April 3, 2015
 
Foreign currency translation adjustments:
 
 
 
Divestitures, deconsolidations and other
Other income (loss) — net
$
63

 
 
Income before income taxes
63

 
 
Income taxes
(14
)
 
 
Consolidated net income
$
49

 
Derivatives:
 
 
 
Foreign currency contracts
Net operating revenues
$
(120
)
 
Foreign currency and commodity contracts
Cost of goods sold
(12
)
 
Foreign currency contracts
Interest expense
2

 
Interest rate contracts
Interest expense
3

 
 
Income before income taxes
(127
)
 
 
Income taxes
48

 
 
Consolidated net income
$
(79
)
 
Available-for-sale securities:
 
 
 
Sale of securities
Other income (loss) — net
$
(27
)
 
 
Income before income taxes
(27
)
 
 
Income taxes
8

 
 
Consolidated net income
$
(19
)
 
Pension and other benefit liabilities:
 
 
 
Amortization of net actuarial loss
*
$
52

 
Amortization of prior service cost (credit)
*
(5
)
 
 
Income before income taxes
47

 
 
Income taxes
(17
)
 
 
Consolidated net income
$
30

 
*
This component of AOCI is included in the Company's computation of net periodic benefit cost and is not reclassified out of AOCI into a single line item in our condensed consolidated statements of income in its entirety. Refer to Note 12 for additional information.