The Coca-Cola Company Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

OTHER COMPREHENSIVE INCOME (Tables)

OTHER COMPREHENSIVE INCOME (Tables)

3 Months Ended

Apr. 01, 2022

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):


	April 1, 2022		December 31, 2021
Net foreign currency translation adjustments	$	(11,719)	$	(12,595)
Accumulated net gains (losses) on derivatives	84		20
Unrealized net gains (losses) on available-for-sale debt securities	(97)		(62)
Adjustments to pension and other postretirement benefit liabilities	(1,608)		(1,693)
Accumulated other comprehensive income (loss)	$	(13,340)	$	(14,330)

Comprehensive Income (Loss), Apportioned between Shareowners of the Coca-Cola Company and Noncontrolling Interests

The following table summarizes the allocation of total comprehensive income between shareowners of The Coca-Cola Company and noncontrolling interests (in millions):


	Three Months Ended April 1, 2022
	Shareowners of The Coca-Cola Company		Noncontrolling Interests		Total
Consolidated net income	$	2,781	$	12	$	2,793
Other comprehensive income:
Net foreign currency translation adjustments	876		133		1,009
Net gains (losses) on derivatives1	64		—		64
Net change in unrealized gains (losses) on available-for-sale debt securities2	(35)		—		(35)
Net change in pension and other postretirement benefit liabilities	85		—		85

Total comprehensive income (loss)	$	3,771	$	145	$	3,916

1Refer to Note 6 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 debt securities.

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 April 1, 2022	Before-Tax Amount		Income Tax		After-Tax Amount
Foreign currency translation adjustments:
Translation adjustments arising during the period	$	1,324	$	(240)	$	1,084
Reclassification adjustments recognized in net income	200		—		200
Gains (losses) on intra-entity transactions that are of a long-term investment nature	(670)		—		(670)
Gains (losses) on net investment hedges arising during the period1	349		(87)		262

Net foreign currency translation adjustments	$	1,203	$	(327)	$	876
Derivatives:
Gains (losses) arising during the period	$	83	$	(21)	$	62
Reclassification adjustments recognized in net income	3		(1)		2
Net gains (losses) on derivatives1	$	86	$	(22)	$	64
Available-for-sale debt securities:
Unrealized gains (losses) arising during the period	$	(46)	$	8	$	(38)
Reclassification adjustments recognized in net income	4		(1)		3

Net change in unrealized gains (losses) on available-for-sale debt securities2	$	(42)	$	7	$	(35)
Pension and other postretirement benefit liabilities:
Net pension and other postretirement benefit liabilities arising during the period	$	68	$	(4)	$	64
Reclassification adjustments recognized in net income	28		(7)		21
Net change in pension and other postretirement benefit liabilities	$	96	$	(11)	$	85
Other comprehensive income (loss) attributable to shareowners of The Coca-Cola Company	$	1,343	$	(353)	$	990

1Refer to Note 6 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 debt securities.


Three Months Ended April 2, 2021	Before-Tax Amount		Income Tax		After-Tax Amount
Foreign currency translation adjustments:
Translation adjustments arising during the period	$	624	$	(23)	$	601

Gains (losses) on intra-entity transactions that are of a long-term investment nature	(954)		—		(954)
Gains (losses) on net investment hedges arising during the period1	475		(118)		357
Net foreign currency translation adjustments	$	145	$	(141)	$	4
Derivatives:
Gains (losses) arising during the period	$	174	$	(43)	$	131
Reclassification adjustments recognized in net income	(36)		9		(27)
Net gains (losses) on derivatives1	$	138	$	(34)	$	104
Available-for-sale debt securities:
Unrealized gains (losses) arising during the period	$	(92)	$	30	$	(62)
Reclassification adjustments recognized in net income	3		(1)		2
Net change in unrealized gains (losses) on available-for-sale debt securities2	$	(89)	$	29	$	(60)
Pension and other postretirement benefit liabilities:
Net pension and other postretirement benefit liabilities arising during the period	$	453	$	(109)	$	344
Reclassification adjustments recognized in net income	101		(25)		76
Net change in pension and other postretirement benefit liabilities	$	554	$	(134)	$	420
Other comprehensive income (loss) attributable to shareowners of The Coca-Cola Company	$	748	$	(280)	$	468

1Refer to Note 6 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 debt securities.

Reclassification out of Accumulated Other Comprehensive Income

The following table presents the amounts and line items in our consolidated statement 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 April 1, 2022
Foreign currency translation adjustments:
Divestitures, deconsolidations and other1	Other income (loss) — net	$	200
	Income before income taxes	200
	Income taxes	—
	Consolidated net income	$	200
Derivatives:
Foreign currency contracts	Net operating revenues	$	(8)
Foreign currency contracts	Cost of goods sold	(1)
Foreign currency contracts	Interest expense	1

Foreign currency contracts	Other income (loss) — net	11
	Income before income taxes	3
	Income taxes	(1)
	Consolidated net income	$	2
Available-for-sale debt securities:

Sale of debt securities	Other income (loss) — net	$	4
	Income before income taxes	4
	Income taxes	(1)
	Consolidated net income	$	3
Pension and other postretirement benefit liabilities:




Recognized net actuarial loss	Other income (loss) — net	$	29
Recognized prior service cost (credit)	Other income (loss) — net	(1)

	Income before income taxes	28
	Income taxes	(7)
	Consolidated net income	$	21

1Related to the sale of our ownership interest in one of our equity method investments and the issuance of additional shares of stock by one of our equity method investees. Refer to Note 2 and Note 15, respectively