Current report filing

OTHER COMPREHENSIVE INCOME (Tables)

v3.19.2
OTHER COMPREHENSIVE INCOME (Tables)
 12 Months Ended
Dec. 31, 2018
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,
2018

 
2017

Foreign currency translation adjustments
$
(11,045
)
 
$
(8,957
)
Accumulated derivative net gains (losses)
(126
)
 
(119
)
Unrealized net gains (losses) on available-for-sale securities1
50

 
493

Adjustments to pension and other benefit liabilities
(1,693
)
 
(1,722
)
Accumulated other comprehensive income (loss)
$
(12,814
)
 
$
(10,305
)

1 The change in the balance from December 31, 2017 includes the $409 million reclassification to reinvested earnings upon the adoption of
ASU 2016-01. Refer to Note 1 and Note 4.




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, 2018
 
Shareowners of
The Coca-Cola Company

Noncontrolling
Interests

Total

Consolidated net income
$
6,434

$
42

$
6,476

Other comprehensive income:
 
 
 
Net foreign currency translation adjustments
(2,088
)
53

(2,035
)
Net gains (losses) on derivatives1
(7
)
—

(7
)
Net change in unrealized gains (losses) on available-for-sale debt
   securities2
(34
)
—

(34
)
Net change in pension and other benefit liabilities3
29

—

29

Total comprehensive income
$
4,334

$
95

$
4,429


1
Refer to Note 6 for additional information related to the net gains or losses on derivative instruments designated and qualifying as cash flow hedging instruments.
2
Refer to Note 4 for additional information related to the net unrealized gains or losses on available-for-sale debt securities.
3 
Refer to Note 14 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, 2018, 2017 and 2016 is as follows (in millions):
 
Before-Tax Amount

Income Tax

After-Tax Amount

2018
 
 
 
Foreign currency translation adjustments:
 
 
 
Translation adjustments arising during the year
$
(1,728
)
$
59

$
(1,669
)
Reclassification adjustments recognized in net income
398

—

398

Gains (losses) on intra-entity transactions that are of a long-term investment nature
(1,296
)
—

(1,296
)
Gains (losses) on net investment hedges arising during the year1
639

(160
)
479

     Net foreign currency translation adjustments
$
(1,987
)
$
(101
)
$
(2,088
)
Derivatives:
 
 
 
Gains (losses) arising during the year
$
59

$
(16
)
$
43

Reclassification adjustments recognized in net income
(68
)
18

(50
)
Net gains (losses) on derivatives1
$
(9
)
$
2

$
(7
)
Available-for-sale debt securities:
 
 
 
Unrealized gains (losses) arising during the year
$
(50
)
$
11

$
(39
)
Reclassification adjustments recognized in net income
5

—

5

Net change in unrealized gains (losses) on available-for-sale debt securities2
$
(45
)
$
11

$
(34
)
Pension and other benefit liabilities:
 
 
 
Net pension and other benefit liabilities arising during the year
$
(299
)
$
75

$
(224
)
Reclassification adjustments recognized in net income
341

(88
)
253

Net change in pension and other benefit liabilities3
$
42

$
(13
)
$
29

Other comprehensive income (loss) attributable to shareowners of The Coca-Cola
   Company
$
(1,999
)
$
(101
)
$
(2,100
)
1 
Refer to Note 6 for additional information related to the net gains or losses on derivative instruments designated and qualifying as cash flow hedging instruments.
2 
Refer to Note 4 for additional information related to the net unrealized gains or losses on available-for-sale debt securities.
3 
Refer to Note 14 for additional information related to the Company's pension and other postretirement benefit liabilities.


 
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 year1
(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 gains (losses) 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 gains (losses) on available-for-sale securities2
$
282

$
(94
)
$
188

Pension and other benefit liabilities:
 
 
 
Net pension and other benefit liabilities 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 6 for additional information related to the net gains or losses on derivative instruments designated and qualifying as cash flow hedging instruments.
2 
Refer to Note 4 for additional information related to the net unrealized gains or losses on available-for-sale securities.
3 
Refer to Note 14 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 gains (losses) 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 gains (losses) on available-for-sale securities2
$
19

$
(2
)
$
17

Pension and other benefit liabilities:
 
 
 
Net pension and other benefit liabilities 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 6 for additional information related to the net gains or losses on derivative instruments designated and qualifying as cash flow hedging instruments.
2 
Refer to Note 4 for additional information related to the net unrealized gains or losses on available-for-sale securities.
3 
Refer to Note 14 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 statement of income where adjustments reclassified from AOCI into income were recorded during the year ended December 31, 2018 (in millions):
Description of AOCI Component
Financial Statement Line Item
Amount Reclassified from AOCI into Income

Foreign currency translation adjustments:
 
 
Divestitures, deconsolidations and other1,2
Other income (loss) — net
$
398

 
Income before income taxes
398

 
Income taxes
—

 
Consolidated net income
$
398

Derivatives:
 
 
Foreign currency contracts
Net operating revenues
$
(137
)
Foreign currency contracts
Other income (loss) — net
9

Divestitures, deconsolidations and other
Other income (loss) — net
3

Foreign currency and interest rate contracts
Interest expense
57

 
Income before income taxes
(68
)
 
Income taxes
18

 
Consolidated net income
$
(50
)
Available-for-sale securities:
 
 
Sale of securities
Other income (loss) — net
$
5

 
Income before income taxes
5

 
Income taxes
—

 
Consolidated net income
$
5

Pension and other benefit liabilities:
 
 
Settlement charges3
Other income (loss) — net
$
240

Curtailment charges3
Other income (loss) — net
1

Recognized net actuarial loss
Other income (loss) — net
131

Recognized prior service cost (credit)
Other income (loss) — net
(17
)
Divestitures, deconsolidations and other2
Other income (loss) — net
(14
)
 
Income before income taxes
341

 
Income taxes
(88
)
 
Consolidated net income
$
253

 
1 
Primarily related to the reversal of the cumulative translation adjustments resulting from the substantial liquidation of the Company's former Russian juice operations, and the deconsolidation of our Canadian bottling operations.
2 
Primarily related to our previously held equity method investment in the Philippine bottling operations and the refranchising of our Latin American bottling operations.
3 
The settlement and curtailment charges were primarily related to productivity, restructuring and integration initiatives and the refranchising of our North America bottling operations. Refer to Note 14 and Note 19.