The following table illustrates the tax expense (benefit) associated with unusual and/or infrequent items for the interim periods presented (in millions):
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
April 1, 2016 |
|
|
April 3, 2015 |
|
|
Productivity and reinvestment program |
$ |
(21 |
) |
1 |
$ |
(42 |
) |
1 |
Other productivity, integration and restructuring initiatives |
— |
|
2 |
— |
|
2 |
Transaction gains and losses |
(143 |
) |
3 |
(10 |
) |
4 |
Certain tax matters |
(6 |
) |
5 |
(16 |
) |
6 |
Other — net |
(1 |
) |
7 |
(130 |
) |
8 |
|
|
1 |
Related to charges of $63 million and $90 million during the three months ended April 1, 2016 and April 3, 2015, respectively. These charges were due to the Company's productivity and reinvestment program. Refer to Note 9 and Note 10.
|
|
|
2 |
Related to charges of $199 million and $35 million during the three months ended April 1, 2016 and April 3, 2015, respectively. These charges were due to the integration of our German bottling operations. Refer to Note 9 and Note 10.
|
|
|
3 |
Related to net charges of $397 million primarily related to $369 million of noncash losses due to the refranchising of certain territories in North America and $45 million related to costs incurred to refranchise our North America bottling territories, partially offset by an $18 million gain, net of transaction costs, related to the disposal of our investment in Keurig. Refer to Note 2 and Note 9.
|
|
|
4 |
Related to charges of $46 million that consisted of $21 million of charges due to the refranchising of certain territories in North America, a $6 million additional charge related to the sale of a portion of our equity investment in a Brazilian bottling entity and a $19 million charge related to the remeasurement of our equity interest in a South African bottler to fair value. Refer to Note 2 and Note 9.
|
|
|
5 |
Primarily related to amounts required to be recorded as a result of a tax rate change in Japan and for changes to our uncertain tax positions, including interest and penalties. The components of the net change in uncertain tax positions were individually insignificant. |
|
|
6 |
Primarily related to amounts required to be recorded for changes to our uncertain tax positions, including interest and penalties. The components of the net change in uncertain tax positions were individually insignificant. |
|
|
7 |
Related to charges of $6 million that consisted of $3 million due to our proportionate share of unusual or infrequent items recorded by certain of our equity method investees and $3 million due to tax litigation expense and costs associated with restructuring and transitioning the Company's Russian juice operations to an existing joint venture with an unconsolidated bottling partner. Refer to Note 9.
|
|
|
8 |
Related to charges of $528 million that consisted of $320 million associated with the early extinguishment of long-term debt, $27 million due to the remeasurement of the net monetary assets of our Venezeulan subsidiary into U.S. dollars using the SIMADI exchange rate, $108 million due to the write-down we recorded related to receivables from our bottling partner in Venezuela and an impairment of a Venezuelan trademark, and $73 million due to our proportionate share of unusual or infrequent items recorded by certain of our equity method investees. Refer to Note 1 and Note 9.
|
|