Quarterly report pursuant to Section 13 or 15(d)

Comprehensive Income (Tables)

v3.8.0.1
Comprehensive Income (Tables)
 9 Months Ended
Sep. 29, 2017
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, net of tax (in millions):
 
September 29,
2017

 
December 31, 2016

Foreign currency translation adjustments
$
(8,271
)
 
$
(9,780
)
Accumulated derivative net gains (losses)
(80
)
 
314

Unrealized net gains (losses) on available-for-sale securities
470

 
305

Adjustments to pension and other benefit liabilities
(1,962
)
 
(2,044
)
Accumulated other comprehensive income (loss)
$
(9,843
)
 
$
(11,205
)
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):
 
Nine Months Ended September 29, 2017
 
Shareowners of
The Coca-Cola Company

Noncontrolling
Interests

Total

Consolidated net income
$
4,000

$
—

$
4,000

Other comprehensive income:
 
 
 
Net foreign currency translation adjustments
1,509

2

1,511

Net gain (loss) on derivatives1
(394
)
—

(394
)
Net change in unrealized gain (loss) on available-for-sale securities2
165

—

165

Net change in pension and other benefit liabilities3
82

—

82

Total comprehensive income
$
5,362

$
2

$
5,364

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.
3 
Refer to Note 12 for additional information related to the Company's pension and other postretirement benefit liabilities.
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 September 29, 2017
Before-Tax Amount

 
Income Tax

 
After-Tax Amount

Foreign currency translation adjustments:
 
 
 
 
 
Translation adjustments arising during the period
$
162

 
$
(174
)
 
$
(12
)
Reclassification adjustments recognized in net income
(17
)
 
—

 
(17
)
Gains (losses) on intra-entity transactions that are of a long-term-investment nature
1,063

 
—

 
1,063

Gains (losses) on net investment hedges arising during the period1
(553
)
 
211

 
(342
)
Net foreign currency translation adjustments
655

 
37

 
692

Derivatives:

 

 

Gains (losses) arising during the period
54

 
(19
)
 
35

Reclassification adjustments recognized in net income
(207
)
 
76

 
(131
)
Net gains (losses) on derivatives1
(153
)
 
57

 
(96
)
Available-for-sale securities:

 

 

Unrealized gains (losses) arising during the period
20

 
(17
)
 
3

Reclassification adjustments recognized in net income
(4
)
 
2

 
(2
)
Net change in unrealized gain (loss) on available-for-sale securities2
16

 
(15
)
 
1

Pension and other benefit liabilities:

 

 

Net pension and other benefit liabilities arising during the period
(120
)
 
49

 
(71
)
Reclassification adjustments recognized in net income
193

 
(73
)
 
120

Net change in pension and other benefit liabilities3
73

 
(24
)
 
49

Other comprehensive income (loss) attributable to shareowners of The Coca-Cola Company
$
591

 
$
55

 
$
646

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 and Note 10 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.
Nine Months Ended September 29, 2017
Before-Tax Amount

 
Income Tax

 
After-Tax Amount

Foreign currency translation adjustments:
 
 
 
 
 
Translation adjustments arising during the period
$
(793
)
 
$
(142
)
 
$
(935
)
Reclassification adjustments recognized in net income
103

 
(6
)
 
97

Gains (losses) on intra-entity transactions that are of a long-term-investment nature
3,270

 
—

 
3,270

Gains (losses) on net investment hedges arising during the period1
(1,494
)
 
571

 
(923
)
Net foreign currency translation adjustments
1,086

 
423

 
1,509

Derivatives:

 

 

Gains (losses) arising during the period
(159
)
 
56

 
(103
)
Reclassification adjustments recognized in net income
(466
)
 
175

 
(291
)
Net gains (losses) on derivatives1
(625
)
 
231

 
(394
)
Available-for-sale securities:

 

 

Unrealized gains (losses) arising during the period
365

 
(123
)
 
242

Reclassification adjustments recognized in net income
(117
)
 
40

 
(77
)
Net change in unrealized gain (loss) on available-for-sale securities2
248

 
(83
)
 
165

Pension and other benefit liabilities:

 

 

Net pension and other benefit liabilities arising during the period
(161
)
 
73

 
(88
)
Reclassification adjustments recognized in net income
266

 
(96
)
 
170

Net change in pension and other benefit liabilities3
105

 
(23
)
 
82

Other comprehensive income (loss) attributable to shareowners of The Coca-Cola Company
$
814

 
$
548

 
$
1,362

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 and Note 10 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 September 30, 2016
Before-Tax Amount

 
Income Tax

 
After-Tax Amount

Foreign currency translation adjustments:
 
 
 
 
 
Translation adjustments arising during the period
$
(130
)
 
$
41

 
$
(89
)
Reclassification adjustments recognized in net income
242

 
(18
)
 
224

Gains (losses) on net investment hedges arising during the period1
(76
)
 
29

 
(47
)
Net foreign currency translation adjustments
36

 
52

 
88

Derivatives:

 

 

Gains (losses) arising during the period
22

 
(8
)
 
14

Reclassification adjustments recognized in net income
(186
)
 
71

 
(115
)
Net gains (losses) on derivatives1
(164
)
 
63

 
(101
)
Available-for-sale securities:

 

 

Unrealized gains (losses) arising during the period
(98
)
 
31

 
(67
)
Reclassification adjustments recognized in net income
(19
)
 
4

 
(15
)
Net change in unrealized gain (loss) on available-for-sale securities2
(117
)
 
35

 
(82
)
Pension and other benefit liabilities:

 

 

Net pension and other benefit liabilities arising during the period
13

 
(2
)
 
11

Reclassification adjustments recognized in net income
43

 
(15
)
 
28

Net change in pension and other benefit liabilities3
56

 
(17
)
 
39

Other comprehensive income (loss) attributable to shareowners of The Coca-Cola Company
$
(189
)
 
$
133

 
$
(56
)
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.
Nine Months Ended September 30, 2016
Before-Tax Amount

 
Income Tax

 
After-Tax Amount

Foreign currency translation adjustments:
 
 
 
 
 
Translation adjustments arising during the period
$
332

 
$
39

 
$
371

Reclassification adjustments recognized in net income
368

 
(18
)
 
350

Gains (losses) on net investment hedges arising during the period1
(558
)
 
214

 
(344
)
Reclassification adjustments for net investment hedges recognized in net income1
77

 
(30
)
 
47

Net foreign currency translation adjustments
219

 
205

 
424

Derivatives:

 

 

Gains (losses) arising during the period
(585
)
 
221

 
(364
)
Reclassification adjustments recognized in net income
(485
)
 
183

 
(302
)
Net gains (losses) on derivatives1
(1,070
)
 
404

 
(666
)
Available-for-sale securities:

 

 

Unrealized gains (losses) arising during the period
196

 
(46
)
 
150

Reclassification adjustments recognized in net income
(93
)
 
22

 
(71
)
Net change in unrealized gain (loss) on available-for-sale securities2
103

 
(24
)
 
79

Pension and other benefit liabilities:

 

 

Net pension and other benefit liabilities arising during the period
1

 
(1
)
 
—

Reclassification adjustments recognized in net income
192

 
(64
)
 
128

Net change in pension and other benefit liabilities3
193

 
(65
)
 
128

Other comprehensive income (loss) attributable to shareowners of The Coca-Cola Company
$
(555
)
 
$
520

 
$
(35
)

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.
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 (in millions):
 
 
Amount Reclassified from
AOCI into Income
 
Description of AOCI Component
Financial Statement Line Item
Three Months Ended September 29, 2017
 
Nine Months Ended September 29, 2017
 
Foreign currency translation adjustments:
 
 
 
 
 
Divestitures, deconsolidations and other1
Other income (loss) — net
$
(17
)
 
$
103

 
 
Income before income taxes
(17
)
 
103

 
 
Income taxes
—

 
(6
)
 
 
Consolidated net income
$
(17
)
 
$
97

 
Derivatives:
 
 
 
 
 
Foreign currency contracts
Net operating revenues
$
(116
)
 
$
(338
)
 
Foreign currency and commodity contracts
Cost of goods sold
5

 
(1
)
 
Foreign currency contracts
Other income (loss) — net
(107
)
 
(159
)
 
Divestitures, deconsolidations and other1

Other income (loss) — net
—

 
1

 
Foreign currency and interest rate contracts
Interest expense
11

 
31

 
 
Income before income taxes
(207
)
 
(466
)
 
 
Income taxes
76

 
175

 
 
Consolidated net income
$
(131
)
 
$
(291
)
 
Available-for-sale securities:
 
 
 
 
 
Divestitures, deconsolidations and other1

Other income (loss) — net
$
—

 
$
(87
)
 
Sale of securities
Other income (loss) — net
(4
)
 
(30
)
 
 
Income before income taxes
(4
)
 
(117
)
 
 
Income taxes
2

 
40

 
 
Consolidated net income
$
(2
)
 
$
(77
)
 
Pension and other benefit liabilities:
 
 
 
 
 
Curtailment charges (credits)2
Other operating charges
$
1

 
$
(17
)
 
Settlement charges (credits)2
Other operating charges
150

 
150

 
Divestitures, deconsolidations and other1
Other income (loss) — net
—

 
7

 
Recognized net actuarial loss (gain)
*
46

 
139

 
Recognized prior service cost (credit)
*
(4
)
 
(13
)
 
 
Income before income taxes
193

 
266

 
 
Income taxes
(73
)
 
(96
)
 
 
Consolidated net income
$
120

 
$
170

 
1 Primarily related to the integration of Coca-Cola West Co., Ltd. ("CCW") and Coca-Cola East Japan Co., Ltd. ("CCEJ") to establish
Coca-Cola Bottlers Japan Inc. ("CCBJI"). Refer to Note 10.
2 The curtailment charges (credits) and settlement charges (credits) were primarily related to North America refranchising and the
Company's productivity, restructuring and integration initiatives.
*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.