Quarterly report pursuant to Section 13 or 15(d)

Comprehensive Income (Tables)

v3.4.0.3
Comprehensive Income (Tables)
 3 Months Ended
Apr. 01, 2016
Comprehensive Income  
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):
 
April 1, 2016

 
December 31, 2015

Foreign currency translation adjustment
$
(9,438
)
 
$
(9,167
)
Accumulated derivative net gains (losses)
269

 
696

Unrealized net gains (losses) on available-for-sale securities
340

 
288

Adjustments to pension and other benefit liabilities
(1,960
)
 
(1,991
)
Accumulated other comprehensive income (loss)
$
(10,789
)
 
$
(10,174
)
Comprehensive Income (Loss), Apportioned between Shareowners of 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):
 
Three Months Ended April 1, 2016
 
Shareowners of
The Coca-Cola Company

Noncontrolling
Interests

Total

Consolidated net income
$
1,483

$
10

$
1,493

Other comprehensive income:
 
 
 
Net foreign currency translation adjustment
(271
)
(6
)
(277
)
Net gain (loss) on derivatives1
(427
)
—

(427
)
Net unrealized gain (loss) on available-for-sale securities2
52

—

52

Net change in pension and other benefit liabilities
31

—

31

Total comprehensive income
$
868

$
4

$
872

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.
OCI attributable to the shareowners of The Coca-Cola Company
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 1, 2016
Before-Tax Amount

 
Income Tax

 
After-Tax Amount

Foreign currency translation adjustments:
 
 
 
 
 
Translation adjustment arising during the period
$
34

 
$
106

 
$
140

Unrealized gains (losses) on net investment hedges arising during the period
(666
)
 
255

 
(411
)
Net foreign currency translation adjustments
(632
)
 
361

 
(271
)
Derivatives:

 

 

Unrealized gains (losses) arising during the period
(485
)
 
182

 
(303
)
Reclassification adjustments recognized in net income
(199
)
 
75

 
(124
)
Net gain (loss) on derivatives1
(684
)
 
257

 
(427
)
Available-for-sale securities:

 

 

Unrealized gains (losses) arising during the period
133

 
(28
)
 
105

Reclassification adjustments recognized in net income
(70
)
 
17

 
(53
)
Net change in unrealized gain (loss) on available-for-sale securities2
63

 
(11
)
 
52

Pension and other benefit liabilities:

 

 

Net pension and other benefits arising during the period
6

 
(3
)
 
3

Reclassification adjustments recognized in net income
43

 
(15
)
 
28

Net change in pension and other benefit liabilities3
49

 
(18
)
 
31

Other comprehensive income (loss) attributable to The Coca-Cola Company
$
(1,204
)
 
$
589

 
$
(615
)
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 11 for additional information related to the Company's pension and other postretirement benefit liabilities.


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 11 for additional information related to the Company's pension and other postretirement benefit liabilities.
Income statement location of adjustments reclassified from AOCI into income
The following table presents the amounts and line items in our condensed consolidated statements of income where adjustments reclassified from AOCI into income were recorded during the three months ended April 1, 2016 (in millions):
 
 
Amount Reclassified from
AOCI into Income
 
Description of AOCI Component
Financial Statement Line Item
Three Months Ended April 1, 2016
 
Derivatives:
 
 
 
Foreign currency contracts
Net operating revenues
$
(140
)
 
Foreign currency contracts
Cost of goods sold
(20
)
 
Foreign currency contracts
Other income (loss) — net
(43
)
 
Foreign currency and interest rate contracts
Interest expense
4

 
 
Income before income taxes
(199
)
 
 
Income taxes
75

 
 
Consolidated net income
$
(124
)
 
Available-for-sale securities:
 
 
 
Sale of securities
Other income (loss) — net
$
(70
)
 
 
Income before income taxes
(70
)
 
 
Income taxes
17

 
 
Consolidated net income
$
(53
)
 
Pension and other benefit liabilities:
 
 
 
Recognized net actuarial loss (gain)
*
$
48

 
Recognized prior service cost (credit)
*
(5
)
 
 
Income before income taxes
43

 
 
Income taxes
(15
)
 
 
Consolidated net income
$
28

 
*
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 11 for additional information.