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OCI attributable to shareowners of The Coca-Cola Company, including our proportionate share of equity method investees' OCI, for the years ended December 31, 2020, 2019 and 2018 was as follows (in millions):
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Before-Tax Amount |
Income Tax |
After-Tax Amount |
| 2020 |
|
|
|
| Foreign currency translation adjustments: |
|
|
|
| Translation adjustments arising during the year |
$ |
(2,223) |
|
$ |
150
|
|
$ |
(2,073) |
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| Reclassification adjustments recognized in net income |
3
|
|
—
|
|
3
|
|
| Gains (losses) on intra-entity transactions that are of a long-term investment nature |
2,133
|
|
—
|
|
2,133
|
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Gains (losses) on net investment hedges arising during the year1
|
(1,094) |
|
273
|
|
(821) |
|
|
|
|
|
| Net foreign currency translation adjustments |
$ |
(1,181) |
|
$ |
423
|
|
$ |
(758) |
|
| Derivatives: |
|
|
|
| Gains (losses) arising during the year |
$ |
(54) |
|
$ |
13
|
|
$ |
(41) |
|
| Reclassification adjustments recognized in net income |
74
|
|
(18) |
|
56
|
|
Net gains (losses) on derivatives1
|
$ |
20
|
|
$ |
(5) |
|
$ |
15
|
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| Available-for-sale debt securities: |
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|
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| Unrealized gains (losses) arising during the year |
$ |
(64) |
|
$ |
22
|
|
$ |
(42) |
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| Reclassification adjustments recognized in net income |
(7) |
|
2
|
|
(5) |
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Net change in unrealized gains (losses) on available-for-sale debt securities2
|
$ |
(71) |
|
$ |
24
|
|
$ |
(47) |
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| Pension and other postretirement benefit liabilities: |
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|
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| Net pension and other postretirement benefit liabilities arising during the year |
$ |
(560) |
|
$ |
138
|
|
$ |
(422) |
|
| Reclassification adjustments recognized in net income |
206
|
|
(51) |
|
155
|
|
Net change in pension and other postretirement benefit liabilities3
|
$ |
(354) |
|
$ |
87
|
|
$ |
(267) |
|
Other comprehensive income (loss) attributable to shareowners of The Coca-Cola
Company |
$ |
(1,586) |
|
$ |
529
|
|
$ |
(1,057) |
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| 2019 |
|
|
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| Foreign currency translation adjustments: |
|
|
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| 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 |
|
|
|
|
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| Net foreign currency translation adjustments |
$ |
132 |
|
$ |
(103) |
|
$ |
29 |
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| Derivatives: |
|
|
|
| Gains (losses) arising during the year |
$ |
(225) |
|
$ |
49 |
|
$ |
(176) |
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| Reclassification adjustments recognized in net income |
163 |
|
(41) |
|
122 |
|
Net gains (losses) on derivatives1
|
$ |
(62) |
|
$ |
8 |
|
$ |
(54) |
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| Available-for-sale debt securities: |
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|
|
| Unrealized gains (losses) arising during the year |
$ |
47 |
|
$ |
(4) |
|
$ |
43 |
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| 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 postretirement benefit liabilities: |
|
|
|
| Net pension and other postretirement benefit liabilities arising during the year |
$ |
(379) |
|
$ |
105 |
|
$ |
(274) |
|
| Reclassification adjustments recognized in net income |
151 |
|
(36) |
|
115 |
|
Net change in pension and other postretirement benefit liabilities3
|
$ |
(228) |
|
$ |
69 |
|
$ |
(159) |
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Other comprehensive income (loss) attributable to shareowners of The Coca-Cola
Company |
$ |
(142) |
|
$ |
(24) |
|
$ |
(166) |
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|
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|
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) |
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| 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) |
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| Available-for-sale securities: |
|
|
|
| Unrealized gains (losses) arising during the year |
$ |
(50) |
|
$ |
11 |
|
$ |
(39) |
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| Reclassification adjustments recognized in net income |
5 |
|
— |
|
5 |
|
Net change in unrealized gains (losses) on available-for-sale securities2
|
$ |
(45) |
|
$ |
11 |
|
$ |
(34) |
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| Pension and other postretirement benefit liabilities: |
|
|
|
| Net pension and other postretirement benefit liabilities arising during the year |
$ |
(299) |
|
$ |
75 |
|
$ |
(224) |
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| Reclassification adjustments recognized in net income |
341 |
|
(88) |
|
253 |
|
Net change in pension and other postretirement benefit liabilities3
|
$ |
42 |
|
$ |
(13) |
|
$ |
29 |
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Other comprehensive income (loss) attributable to shareowners of The Coca-Cola
Company |
$ |
(1,999) |
|
$ |
(101) |
|
$ |
(2,100) |
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1 Refer to Note 5 for additional information related to the net gains or losses on derivative instruments.
2Refer to Note 4 for additional information related to the net unrealized gains or losses on available-for-sale securities.
3 Refer to Note 13 for additional information related to the Company's pension and other postretirement benefit liabilities.
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