Annual report pursuant to Section 13 and 15(d)

OTHER COMPREHENSIVE INCOME (Tables)

v3.8.0.1
OTHER COMPREHENSIVE INCOME (Tables)
 12 Months Ended
Dec. 31, 2017
OTHER COMPREHENSIVE INCOME [Abstract]  
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):
December 31,
2017

 
2016

Foreign currency translation adjustments
$
(8,957
)
 
$
(9,780
)
Accumulated derivative net gain (loss)
(119
)
 
314

Unrealized net gain (loss) on available-for-sale securities
493

 
305

Adjustments to pension and other benefit liabilities
(1,722
)
 
(2,044
)
Accumulated other comprehensive income (loss)
$
(10,305
)
 
$
(11,205
)
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):
 
Year Ended December 31, 2017
 
Shareowners of
The Coca-Cola Company

Noncontrolling
Interests

Total

Consolidated net income
$
1,248

$
35

$
1,283

Other comprehensive income:
 
 
 
Net foreign currency translation adjustment
823

38

861

Net gain (loss) on derivatives1
(433
)
—

(433
)
Net change in unrealized gain (loss) on available-for-sale securities2
188

—

188

Net change in pension and other benefit liabilities3
322

—

322

Total comprehensive income
$
2,148

$
73

$
2,221


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 13 for additional information related to the Company's pension and other postretirement benefit liabilities.
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, 2017, 2016 and 2015, is as follows (in millions):
 
Before-Tax Amount

 
Income Tax

 
After-Tax Amount

2017
 
 
 
 
 
Foreign currency translation adjustments:
 
 
 
 
 
Translation adjustments arising during the year
$
(1,350
)
 
$
(242
)
 
$
(1,592
)
Reclassification adjustments recognized in net income
23

 
(6
)
 
17

Gains (losses) on intra-entity transactions that are of a long-term investment nature
3,332

 
—

 
3,332

Gains (losses) on net investment hedges arising during the year
(1,512
)
 
578

 
(934
)
     Net foreign currency translation adjustments
493

 
330

 
823

Derivatives:
 
 
 
 
 
Gains (losses) arising during the year
(184
)
 
65

 
(119
)
Reclassification adjustments recognized in net income
(506
)
 
192

 
(314
)
Net gain (loss) on derivatives1
(690
)
 
257

 
(433
)
Available-for-sale securities:
 
 
 
 
 
Unrealized gains (losses) arising during the year
405

 
(136
)
 
269

Reclassification adjustments recognized in net income
(123
)
 
42

 
(81
)
Net change in unrealized gain (loss) on available-for-sale securities2
282

 
(94
)
 
188

Pension and other benefit liabilities:
 
 
 
 
 
Net pension and other benefits arising during the year
120

 
(7
)
 
113

Reclassification adjustments recognized in net income
325

 
(116
)
 
209

Net change in pension and other benefit liabilities3
445

 
(123
)
 
322

Other comprehensive income (loss) attributable to shareowners of The Coca-Cola Company
$
530

 
$
370

 
$
900

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 13 for additional information related to the Company's pension and other postretirement benefit liabilities.














 
Before-Tax Amount

 
Income Tax

 
After-Tax Amount

2016
 
 
 
 
 
Foreign currency translation adjustments:
 
 
 
 
 
Translation adjustments arising during the year
$
(1,103
)
 
$
51

 
$
(1,052
)
Reclassification adjustments recognized in net income
368

 
(18
)
 
350

Gains (losses) on net investment hedges arising during the year
67

 
(25
)
 
42

Reclassification adjustments for net investment hedges recognized in net income
77

 
(30
)
 
47

     Net foreign currency translation adjustments
(591
)
 
(22
)
 
(613
)
Derivatives:
 
 
 
 
 
Gains (losses) arising during the year
(43
)
 
11

 
(32
)
Reclassification adjustments recognized in net income
(563
)
 
213

 
(350
)
Net gain (loss) on derivatives1
(606
)
 
224

 
(382
)
Available-for-sale securities:
 
 
 
 
 
Unrealized gains (losses) arising during the year
124

 
(28
)
 
96

Reclassification adjustments recognized in net income
(105
)
 
26

 
(79
)
Net change in unrealized gain (loss) on available-for-sale securities2
19

 
(2
)
 
17

Pension and other benefit liabilities:
 
 
 
 
 
Net pension and other benefits arising during the year
(374
)
 
99

 
(275
)
Reclassification adjustments recognized in net income
342

 
(120
)
 
222

Net change in pension and other benefit liabilities3
(32
)
 
(21
)
 
(53
)
Other comprehensive income (loss) attributable to shareowners of The Coca-Cola Company
$
(1,210
)
 
$
179

 
$
(1,031
)
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 13 for additional information related to the Company's pension and other postretirement benefit liabilities.






 
Before-Tax Amount

 
Income Tax

 
After-Tax Amount

2015
 
 
 
 
 
Foreign currency translation adjustments:
 
 
 
 
 
Translation adjustments 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 adjustments
(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:
 
 
 
 
 
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 shareowners of The Coca-Cola Company
$
(4,577
)
 
$
180

 
$
(4,397
)
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 13 for additional information related to the Company's pension and other postretirement benefit liabilities.
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, 2017 (in millions):
Description of AOCI Component
Financial Statement Line Item
Amount Reclassified from AOCI into Income

Foreign currency translation adjustments:
 
 
Divestitures, deconsolidations and other1
Other income (loss) — net
$
23

 
Income from continuing operations before income taxes
$
23

 
Income taxes from continuing operations
(6
)
 
Consolidated net income
$
17

Derivatives:
 
 
Foreign currency contracts
Net operating revenues
$
(444
)
Foreign currency and commodity contracts
Cost of goods sold
3

Foreign currency and interest rate contracts
Interest expense
44

Foreign currency contracts
Other income (loss) — net
(110
)
Divestitures, deconsolidations and other2
Other income (loss) — net
1

 
Income from continuing operations before income taxes
$
(506
)
 
Income taxes from continuing operations
192

 
Consolidated net income
$
(314
)
Available-for-sale securities:
 
 
Divestitures, deconsolidations and other2
Other income (loss) — net
$
(87
)
Sale of securities
Other income (loss) — net
(36
)
 
Income from continuing operations before income taxes
$
(123
)
 
Income taxes from continuing operations
42

 
Consolidated net income
$
(81
)
Pension and other benefit liabilities:
 
 
Curtailment charges (credits)3

Other operating charges
$
(75
)
Settlement charges (credits)3

Other operating charges
228

Divestitures, deconsolidations and other2
Other income (loss) — net
7

Recognized net actuarial loss (gain)
*
183

Recognized prior service cost (credit)
*
(18
)
 
Income from continuing operations before income taxes
$
325

 
Income taxes from continuing operations
(116
)
 
Consolidated net income
$
209

1 Includes a $104 million loss related to the integration of CCW and CCEJ to establish CCBJI and an $80 million gain related to the derecognition of our previously held equity interests in CCBA and its South African subsidiary upon the consolidation of CCBA. Refer to Note 2 and Note 17.
2 Primarily related to the integration of CCW and CCEJ to establish CCBJI. Refer to Note 17.
3 The curtailment charges (credits) and settlement charges (credits) were primarily related to North America refranchising and the Company's productivity, restructuring and integration initiatives. Refer to Note 13 and Note 18.
* 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.