OTHER COMPREHENSIVE INCOME (Tables)
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12 Months Ended |
Dec. 31, 2015 |
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| OTHER COMPREHENSIVE INCOME [Abstract] |
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| AOCI attributable to the shareowners of The Coca-Cola Company |
AOCI attributable to shareowners of The Coca-Cola Company consisted of the following (in millions):
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December 31, |
2015 |
|
|
2014 |
|
Foreign currency translation adjustment |
$ |
(9,167 |
) |
|
$ |
(5,226 |
) |
Accumulated derivative net gains (losses) |
696 |
|
|
554 |
|
Unrealized net gains (losses) on available-for-sale securities |
288 |
|
|
972 |
|
Adjustments to pension and other benefit liabilities |
(1,991 |
) |
|
(2,077 |
) |
Accumulated other comprehensive income (loss) |
$ |
(10,174 |
) |
|
$ |
(5,777 |
) |
|
| Allocation of total comprehensive income or Loss between shareowners of the The Coca-Cola Company and noncontrolling interests [Text Block] |
The following table summarizes the allocation of total comprehensive income between shareowners of The Coca-Cola Company and noncontrolling interests (in millions):
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Year Ended December 31, 2015 |
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Shareowners of
The Coca-Cola Company
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|
Noncontrolling
Interests
|
|
Total |
|
Consolidated net income |
$ |
7,351 |
|
$ |
15 |
|
$ |
7,366 |
|
Other comprehensive income: |
|
|
|
Net foreign currency translation adjustment |
(3,941 |
) |
(18 |
) |
(3,959 |
) |
Net gain (loss) on derivatives1
|
142 |
|
— |
|
142 |
|
Net unrealized gain (loss) on available-for-sale securities2
|
(684 |
) |
— |
|
(684 |
) |
Net change in pension and other benefit liabilities3
|
86 |
|
— |
|
86 |
|
Total comprehensive income |
$ |
2,954 |
|
$ |
(3 |
) |
$ |
2,951 |
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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.
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2
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Refer to Note 3 for information related to the net unrealized gain or loss on available-for-sale securities.
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3 |
Refer to Note 13 for additional information related to the Company's pension and other postretirement benefit liabilities.
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| OCI attributable to shareowners of The Coca-Cola Company, including our proportionate share of equity method investees' OCI |
OCI attributable to shareowners of The Coca-Cola Company, including our proportionate share of equity method investees' OCI, for the years ended December 31, 2015, 2014 and 2013, is as follows (in millions):
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Before-Tax Amount |
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Income Tax |
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|
After-Tax Amount |
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2015 |
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|
|
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Foreign currency translation adjustments: |
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|
|
|
|
Translation adjustment arising during the year |
$ |
(4,626 |
) |
|
$ |
243 |
|
|
$ |
(4,383 |
) |
Reclassification adjustments recognized in net income |
63 |
|
|
(14 |
) |
|
49 |
|
Unrealized gains (losses) on net investment hedges arising during the year |
637 |
|
|
(244 |
) |
|
393 |
|
Net foreign currency translation adjustment |
(3,926 |
) |
|
(15 |
) |
|
(3,941 |
) |
Derivatives: |
|
|
|
|
|
Unrealized gains (losses) arising during the year |
853 |
|
|
(314 |
) |
|
539 |
|
Reclassification adjustments recognized in net income |
(638 |
) |
|
241 |
|
|
(397 |
) |
Net gain (loss) on derivatives1
|
215 |
|
|
(73 |
) |
|
142 |
|
Available-for-sale securities: |
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|
|
|
|
Unrealized gains (losses) arising during the year |
(973 |
) |
|
328 |
|
|
(645 |
) |
Reclassification adjustments recognized in net income |
(61 |
) |
|
22 |
|
|
(39 |
) |
Net change in unrealized gain (loss) on available-for-sale securities2
|
(1,034 |
) |
|
350 |
|
|
(684 |
) |
Pension and other benefit liabilities: |
|
|
|
|
|
Net pension and other benefits arising during the year |
(169 |
) |
|
43 |
|
|
(126 |
) |
Reclassification adjustments recognized in net income |
337 |
|
|
(125 |
) |
|
212 |
|
Net change in pension and other benefit liabilities3
|
168 |
|
|
(82 |
) |
|
86 |
|
Other comprehensive income (loss) attributable to The Coca-Cola Company |
$ |
(4,577 |
) |
|
$ |
180 |
|
|
$ |
(4,397 |
) |
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|
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.
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2 |
Includes reclassification adjustments related to divestitures of certain available-for-sale securities. Refer to Note 3 for additional information related to these divestitures.
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3 |
Refer to Note 13 for additional information related to the Company's pension and other postretirement benefit liabilities.
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|
Before-Tax Amount |
|
|
Income Tax |
|
|
After-Tax Amount |
|
2014 |
|
|
|
|
|
Foreign currency translation adjustments: |
|
|
|
|
|
Translation adjustment arising during the year |
$ |
(2,560 |
) |
|
$ |
183 |
|
|
$ |
(2,377 |
) |
Net foreign currency translation adjustment |
(2,560 |
) |
|
183 |
|
|
(2,377 |
) |
Derivatives: |
|
|
|
|
|
Unrealized gains (losses) arising during the year |
620 |
|
|
(231 |
) |
|
389 |
|
Reclassification adjustments recognized in net income |
(50 |
) |
|
18 |
|
|
(32 |
) |
Net gain (loss) on derivatives1
|
570 |
|
|
(213 |
) |
|
357 |
|
Available-for-sale securities: |
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|
|
|
Unrealized gains (losses) arising during the year |
1,139 |
|
|
(412 |
) |
|
727 |
|
Reclassification adjustments recognized in net income |
(17 |
) |
|
4 |
|
|
(13 |
) |
Net change in unrealized gain (loss) on available-for-sale securities2
|
1,122 |
|
|
(408 |
) |
|
714 |
|
Pension and other benefit liabilities: |
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|
|
|
Net pension and other benefits arising during the year |
(1,666 |
) |
|
588 |
|
|
(1,078 |
) |
Reclassification adjustments recognized in net income |
60 |
|
|
(21 |
) |
|
39 |
|
Net change in pension and other benefit liabilities3
|
(1,606 |
) |
|
567 |
|
|
(1,039 |
) |
Other comprehensive income (loss) attributable to The Coca-Cola Company |
$ |
(2,474 |
) |
|
$ |
129 |
|
|
$ |
(2,345 |
) |
|
|
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 13 for additional information related to the Company's pension and other postretirement benefit liabilities.
|
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|
Before-Tax Amount |
|
|
Income Tax |
|
|
After-Tax Amount |
|
2013 |
|
|
|
|
|
Foreign currency translation adjustments: |
|
|
|
|
|
Translation adjustment arising during the year |
$ |
(1,046 |
) |
|
$ |
56 |
|
|
$ |
(990 |
) |
Reclassification adjustments recognized in net income |
(194 |
) |
|
— |
|
|
(194 |
) |
Net foreign currency translation adjustment |
(1,240 |
) |
|
56 |
|
|
(1,184 |
) |
Derivatives: |
|
|
|
|
|
Unrealized gains (losses) arising during the year |
425 |
|
|
(173 |
) |
|
252 |
|
Reclassification adjustments recognized in net income |
(167 |
) |
|
66 |
|
|
(101 |
) |
Net gain (loss) on derivatives1
|
258 |
|
|
(107 |
) |
|
151 |
|
Available-for-sale securities: |
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|
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|
Unrealized gains (losses) arising during the year |
(134 |
) |
|
42 |
|
|
(92 |
) |
Reclassification adjustments recognized in net income |
12 |
|
|
— |
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|
12 |
|
Net change in unrealized gain (loss) on available-for-sale securities2
|
(122 |
) |
|
42 |
|
|
(80 |
) |
Pension and other benefit liabilities: |
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|
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Net pension and other benefits arising during the year |
1,490 |
|
|
(550 |
) |
|
940 |
|
Reclassification adjustments recognized in net income |
198 |
|
|
(72 |
) |
|
126 |
|
Net change in pension and other benefit liabilities3
|
1,688 |
|
|
(622 |
) |
|
1,066 |
|
Other comprehensive income (loss) attributable to The Coca-Cola Company |
$ |
584 |
|
|
$ |
(631 |
) |
|
$ |
(47 |
) |
|
|
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 13 for additional information related to the Company's pension and other postretirement benefit liabilities.
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| Disclosure of Reclassification Amount [Text Block] |
The following table presents the amounts and line items in our consolidated statements of income where adjustments reclassified from AOCI into income were recorded during the year ended December 31, 2015 (in millions):
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Description of AOCI Component |
Financial Statement Line Item |
Amount Reclassified from
AOCI into Income
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Foreign currency translation adjustments: |
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|
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 |
$ |
(630 |
) |
Foreign currency and commodity contracts |
Cost of goods sold |
(59 |
) |
Foreign currency contracts |
Other income (loss) — net |
40 |
|
Foreign currency and interest rate contracts |
Interest expense |
11 |
|
|
Income before income taxes |
$ |
(638 |
) |
|
Income taxes |
241 |
|
|
Consolidated net income |
$ |
(397 |
) |
Available-for-sale securities: |
|
|
Sale of securities |
Other income (loss) — net |
$ |
(61 |
) |
|
Income before income taxes |
$ |
(61 |
) |
|
Income taxes |
22 |
|
|
Consolidated net income |
$ |
(39 |
) |
Pension and other benefit liabilities: |
|
|
Recognized net actuarial loss (gain) |
* |
$ |
358 |
|
Recognized prior service cost (credit) |
* |
(21 |
) |
|
Income before income taxes |
$ |
337 |
|
|
Income taxes |
(125 |
) |
|
Consolidated net income |
$ |
212 |
|
|
|
* |
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 consolidated statements of income in its entirety. Refer to Note 13 for additional information.
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