| Schedule of tax expense (benefit) associated with unusual and/or infrequent items for the interim periods presented |
The following table illustrates the income tax expense (benefit) associated with unusual and/or infrequent items for the interim periods presented (in millions):
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Three Months Ended |
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Six Months Ended |
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July 1, 2016 |
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July 3, 2015 |
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July 1, 2016 |
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July 3, 2015 |
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Productivity and reinvestment program |
$ |
(24 |
) |
1 |
$ |
(33 |
) |
8 |
$ |
(45 |
) |
1 |
$ |
(75 |
) |
8 |
Other productivity, integration and restructuring initiatives |
— |
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2 |
— |
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9 |
— |
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2 |
— |
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9 |
Transaction gains and losses |
26 |
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3 |
474 |
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10 |
(117 |
) |
4 |
464 |
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11 |
Certain tax matters |
83 |
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5 |
16 |
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12 |
77 |
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5 |
— |
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12 |
Other — net |
(45 |
) |
6 |
(38 |
) |
13 |
(46 |
) |
7 |
(168 |
) |
14 |
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1 |
Related to charges of $65 million and $128 million during the three and six months ended July 1, 2016, respectively. These charges were due to the Company's productivity and reinvestment program. Refer to Note 10 and Note 11.
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2 |
Related to charges of $41 million and $240 million during the three and six months ended July 1, 2016, respectively. These charges were due to the integration of our German bottling operations. Refer to Note 10 and Note 11.
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3 |
Related to a net gain of $1,040 million that primarily consisted of a $1,292 million net noncash gain related to the deconsolidation of our German bottling operations, partially offset by charges of $251 million related to $199 million of noncash losses due to the refranchising of territories in North America and $52 million related to costs incurred to refranchise our North America bottling territories. Refer to Note 2 and Note 10.
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4 |
Related to a net gain of $643 million that primarily consisted of a $1,292 million net noncash gain related to the deconsolidation of our German bottling operations and an $18 million gain related to the disposal of our investment in Keurig. These gains were partially offset by charges of $665 million related to $568 million of noncash losses due to the refranchising of territories in North America and $97 million related to costs incurred to refranchise our North America bottling territories. Refer to Note 2 and Note 10.
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5 |
Primarily related to amounts required to be recorded for changes to our uncertain tax positions, including interest and penalties. |
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6 |
Related to charges of $125 million that included a $100 million cash contribution to The Coca-Cola Foundation, an $18 million charge due to our proportionate share of unusual or infrequent items recorded by certain of our equity method investees and a $7 million charge due to tax litigation expense. Refer to Note 10.
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7 |
Related to charges of $131 million that included a $100 million cash contribution to The Coca-Cola Foundation, a $21 million charge due to our proportionate share of unusual or infrequent items recorded by certain of our equity method investees and a $10 million charge due to tax litigation expense. Refer to Note 10.
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8 |
Related to charges of $92 million and $182 million during the three and six months ended July 3, 2015, respectively. These charges were due to the Company's productivity and reinvestment program. Refer to Note 10 and Note 11.
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9 |
Related to charges of $94 million and $129 million during the three and six months ended July 3, 2015, respectively. These charges were due to the integration of our German bottling operations. Refer to Note 10 and Note 11.
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10 |
Related to a net gain of $1,007 million that primarily consisted of a $1,402 million net gain related to the Monster Transaction, partially offset by a $380 million charge due to the impairment of certain trademark assets and $12 million of charges due to the refranchising of territories in North America. Refer to Note 2 and Note 10.
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11 |
Related to a net gain of $961 million that primarily consisted of a $1,402 million net gain related to the Monster Transaction, partially offset by a $380 million charge due to the impairment of certain trademark assets, $33 million of charges due to the refranchising of 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 10.
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12 |
Primarily related to the settlement of certain prior year audit matters and 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. |
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13 |
Related to charges of $110 million that primarily included a $100 million cash contribution to The Coca-Cola Foundation and a $9 million charge due to our proportionate share of unusual or infrequent items recorded by certain of our equity method investees. Refer to Note 10.
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14 |
Related to charges of $638 million that primarily consisted of a $100 million cash contribution to The Coca-Cola Foundation, $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 $82 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 10.
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