Annual report pursuant to Section 13 and 15(d)

OTHER COMPREHENSIVE INCOME (Tables)

v3.19.3.a.u2
OTHER COMPREHENSIVE INCOME (Tables)
 12 Months Ended
Dec. 31, 2019
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,
2019

 
2018

Foreign currency translation adjustments1
$
(11,270
)
 
$
(11,045
)
Accumulated derivative net gains (losses)1,2
(209
)
 
(126
)
Unrealized net gains (losses) on available-for-sale securities1
75

 
50

Adjustments to pension and other benefit liabilities1
(2,140
)
 
(1,693
)
Accumulated other comprehensive income (loss)
$
(13,544
)
 
$
(12,814
)

1 
The change in the balance from December 31, 2018 includes a portion of a $558 million reclassification to reinvested earnings from AOCI upon the adoption of ASU 2018-02. Refer to Note 1.
2 
The change in the balance from December 31, 2018 includes a $6 million reclassification to reinvested earnings from AOCI upon the adoption of ASU 2017-12. Refer to Note 6.
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, 2019
 
Shareowners of
The Coca-Cola Company

Noncontrolling
Interests

Total

Consolidated net income
$
8,920

$
65

$
8,985

Other comprehensive income:
 
 
 
Net foreign currency translation adjustments
29

45

74

Net gains (losses) on derivatives1
(54
)
—

(54
)
Net change in unrealized gains (losses) on available-for-sale debt
   securities2
18

—

18

Net change in pension and other benefit liabilities3
(159
)
—

(159
)
Total comprehensive income
$
8,754

$
110

$
8,864


1 Refer to Note 6 for additional information related to the net gains or losses on derivative 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 15 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, 2019, 2018 and 2017 is as follows (in millions):
 
Before-Tax Amount

Income Tax

After-Tax Amount

2019
 
 
 
Foreign currency translation adjustments:
 
 
 
Translation adjustments arising during the year
$
52

$
(54
)
$
(2
)
Reclassification adjustments recognized in net income
192

—

192

Gains (losses) on intra-entity transactions that are of a long-term investment nature
(307
)
—

(307
)
Gains (losses) on net investment hedges arising during the year1
195

(49
)
146

     Net foreign currency translation adjustments
$
132

$
(103
)
$
29

Derivatives:
 
 
 
Gains (losses) arising during the year
$
(225
)
$
49

$
(176
)
Reclassification adjustments recognized in net income
163

(41
)
122

Net gains (losses) on derivatives1
$
(62
)
$
8

$
(54
)
Available-for-sale debt securities:
 
 
 
Unrealized gains (losses) arising during the year
$
47

$
(4
)
$
43

Reclassification adjustments recognized in net income
(31
)
6

(25
)
Net change in unrealized gains (losses) on available-for-sale debt securities2
$
16

$
2

$
18

Pension and other benefit liabilities:
 
 
 
Net pension and other benefit liabilities arising during the year
$
(379
)
$
105

$
(274
)
Reclassification adjustments recognized in net income
151

(36
)
115

Net change in pension and other benefit liabilities3
$
(228
)
$
69

$
(159
)
Other comprehensive income (loss) attributable to shareowners of The Coca-Cola
   Company
$
(142
)
$
(24
)
$
(166
)
1 Refer to Note 6 for additional information related to the net gains or losses on derivative 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 15 for additional information related to the Company's pension and other postretirement benefit liabilities.


 
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.
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 15 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.
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 15 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, 2019 (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
$
192

 
Income before income taxes
192

 
Income taxes
—

 
Consolidated net income
$
192

Derivatives:
 
 
Foreign currency contracts
Net operating revenues
$
3

Foreign currency and commodity contracts
Cost of goods sold
(11
)
Foreign currency contracts
Other income (loss) — net
119

Divestitures, deconsolidations and other
Other income (loss) — net
1

Foreign currency and interest rate contracts
Interest expense
51

 
Income before income taxes
163

 
Income taxes
(41
)
 
Consolidated net income
$
122

Available-for-sale securities:
 
 
Sale of securities
Other income (loss) — net
$
(31
)
 
Income before income taxes
(31
)
 
Income taxes
6

 
Consolidated net income
$
(25
)
Pension and other benefit liabilities:
 
 
Settlement charges2
Other income (loss) — net
$
6

Curtailment charges2
Other income (loss) — net
(2
)
Recognized net actuarial loss
Other income (loss) — net
153

Recognized prior service cost (credit)
Other income (loss) — net
(6
)
 
Income before income taxes
151

 
Income taxes
(36
)
 
Consolidated net income
$
115

 
1 Primarily related to our previously held equity ownership interest in CHI and the sale of a portion of our equity ownership interest in Andina. Refer to Note 2.
2 The settlement and curtailment charges were primarily related to our productivity and reinvestment program. Refer to Note 15 and Note 20.