Quarterly report pursuant to Section 13 or 15(d)

Comprehensive Income (Tables)

v2.4.0.8
Comprehensive Income (Tables)
 6 Months Ended
Jun. 28, 2013
Comprehensive Income  
Comprehensive Income (Loss), Apportioned between Shareowners of 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):
 
Six Months Ended June 28, 2013
 
Shareowners of
The Coca-Cola Company

Noncontrolling
Interests

Total

Consolidated net income
$
4,427

$
36

$
4,463

Other comprehensive income:
 
 
 
Net foreign currency translation adjustment
(1,006
)
25

(981
)
Net gain (loss) on derivatives1
204

—

204

Net unrealized gain (loss) on available-for-sale securities2
26

—

26

Net change in pension and other benefit liabilities
78

—

78

Total comprehensive income
$
3,729

$
61

$
3,790

1 Refer to Note 5 for information related to the net gain or loss on derivative instruments classified as cash flow hedges.
2 Refer to Note 3 for information related to the net unrealized gain or loss on available-for-sale 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 June 28, 2013
Before-Tax Amount

 
Income Tax

 
After-Tax Amount

Foreign currency translation adjustments:
 
 
 
 
 
Translation adjustment arising during the period
$
(1,004
)
 
$
(47
)
 
$
(1,051
)
Reclassification adjustments recognized in net income
(2
)
 
—

 
(2
)
Net foreign currency translation adjustments
(1,006
)
 
(47
)
 
(1,053
)
Derivatives:
 
 
 
 
 
Unrealized gains (losses) arising during the period
240

 
(89
)
 
151

Reclassification adjustments recognized in net income
(55
)
 
21

 
(34
)
Net gain (loss) on derivatives1
185

 
(68
)
 
117

Available-for-sale securities:
 
 
 
 
 
Unrealized gains (losses) arising during the period
39

 
(23
)
 
16

Reclassification adjustments recognized in net income
2

 
—

 
2

Net change in unrealized gain (loss) on available-for-sale securities2
41

 
(23
)
 
18

Pension and other benefit liabilities:
 
 
 
 
 
Net pension and other benefits arising during the period
18

 
(4
)
 
14

Reclassification adjustments recognized in net income
50

 
(18
)
 
32

Net change in pension and other benefit liabilities3
68

 
(22
)
 
46

Other comprehensive income (loss) attributable to The Coca-Cola Company
$
(712
)
 
$
(160
)
 
$
(872
)
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 
Includes reclassification adjustments related to divestitures of certain available-for-sale securities. Refer to Note 3 for additional information related to these divestitures.
3 
Refer to Note 12 for additional information related to the Company's pension and other postretirement benefit liabilities.
Six Months Ended June 28, 2013
Before-Tax Amount

 
Income Tax

 
After-Tax Amount

Foreign currency translation adjustments:
 
 
 
 
 
Translation adjustment arising during the period
$
(679
)
 
$
(107
)
 
$
(786
)
Reclassification adjustments recognized in net income
(220
)
 
—

 
(220
)
Net foreign currency translation adjustments
(899
)
 
(107
)
 
(1,006
)
Derivatives:
 
 
 
 
 
Unrealized gains (losses) arising during the period
402

 
(153
)
 
249

Reclassification adjustments recognized in net income
(73
)
 
28

 
(45
)
Net gain (loss) on derivatives1
329

 
(125
)
 
204

Available-for-sale securities:
 
 
 
 
 
Unrealized gains (losses) arising during the period
44

 
(20
)
 
24

Reclassification adjustments recognized in net income
2

 
—

 
2

Net change in unrealized gain (loss) on available-for-sale securities2
46

 
(20
)
 
26

Pension and other benefit liabilities:
 
 
 
 
 
Net pension and other benefits arising during the period
25

 
(9
)
 
16

Reclassification adjustments recognized in net income
98

 
(36
)
 
62

Net change in pension and other benefit liabilities3
123

 
(45
)
 
78

Other comprehensive income (loss) attributable to The Coca-Cola Company
$
(401
)
 
$
(297
)
 
$
(698
)
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 
Includes reclassification adjustments related to divestitures of certain available-for-sale securities. Refer to Note 3 for additional information related to these divestitures.
3 
Refer to Note 12 for additional information related to the Company's pension and other postretirement benefit liabilities.
Three Months Ended June 29, 2012
Before-Tax Amount

 
Income Tax

 
After-Tax Amount

Foreign currency translation adjustments:
 
 
 
 
 
Translation adjustment arising during the period
$
(1,707
)
 
$
(10
)
 
$
(1,717
)
Reclassification adjustments recognized in net income
7

 
—

 
7

Net foreign currency translation adjustments
(1,700
)
 
(10
)
 
(1,710
)
Derivatives:
 
 
 
 
 
Unrealized gains (losses) arising during the period
40

 
(21
)
 
19

Reclassification adjustments recognized in net income
15

 
(6
)
 
9

Net gain (loss) on derivatives1
55

 
(27
)
 
28

Available-for-sale securities:
 
 
 
 
 
Unrealized gains (losses) arising during the period
113

 
(35
)
 
78

Reclassification adjustments recognized in net income
(12
)
 
—

 
(12
)
Net change in unrealized gain (loss) on available-for-sale securities2
101

 
(35
)
 
66

Pension and other benefit liabilities:
 
 
 
 
 
Net pension and other benefits arising during the period
7

 
1

 
8

Reclassification adjustments recognized in net income
22

 
(8
)
 
14

Net change in pension and other benefit liabilities3
29

 
(7
)
 
22

Other comprehensive income (loss) attributable to The Coca-Cola Company
$
(1,515
)
 
$
(79
)
 
$
(1,594
)
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 
Includes reclassification adjustments related to divestitures of certain available-for-sale securities. Refer to Note 3 for additional information related to these divestitures.
3 
Refer to Note 12 for additional information related to the Company's pension and other postretirement benefit liabilities.
Six Months Ended June 29, 2012
Before-Tax Amount

 
Income Tax

 
After-Tax Amount

Foreign currency translation adjustments:
 
 
 
 
 
Translation adjustment arising during the period
$
(807
)
 
$
(31
)
 
$
(838
)
Reclassification adjustments recognized in net income
7

 
—

 
7

Net foreign currency translation adjustments
(800
)
 
(31
)
 
(831
)
Derivatives:
 
 
 
 
 
Unrealized gains (losses) arising during the period
63

 
(31
)
 
32

Reclassification adjustments recognized in net income
44

 
(17
)
 
27

Net gain (loss) on derivatives1
107

 
(48
)
 
59

Available-for-sale securities:
 
 
 
 
 
Unrealized gains (losses) arising during the period
268

 
(92
)
 
176

Reclassification adjustments recognized in net income
(10
)
 
—

 
(10
)
Net change in unrealized gain (loss) on available-for-sale securities2
258

 
(92
)
 
166

Pension and other benefit liabilities:
 
 
 
 
 
Net pension and other benefits arising during the period
(17
)
 
—

 
(17
)
Reclassification adjustments recognized in net income
44

 
(16
)
 
28

Net change in pension and other benefit liabilities3
27

 
(16
)
 
11

Other comprehensive income (loss) attributable to The Coca-Cola Company
$
(408
)
 
$
(187
)
 
$
(595
)
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
Includes reclassification adjustments related to divestitures of certain available-for-sale securities. Refer to Note 3 for additional information related to these divestitures.
3 
Refer to Note 12 for additional information related to the Company's pension and other postretirement benefit liabilities.
Income statement location of adjustments reclassified form AOCI into income
The following table presents the amounts and line items in our condensed consolidated statements of income where adjustments reclassified from AOCI into income were recorded during the three and six months ended June 28, 2013 (in millions):
 
 
Amount Reclassified from
AOCI into Income
 
Description of AOCI Component
Location of Gain (Loss)
Recognized in Income
Three Months Ended June 28, 2013

Six Months Ended June 28, 2013

 
Foreign currency translation adjustments:
 
 
 
 
Divestitures, deconsolidations and other
Other income (loss) — net
$
(2
)
$
(220
)
1 
 
Income before income taxes
$
(2
)
$
(220
)
 
 
Income taxes
—

—

 
 
Consolidated net income
$
(2
)
$
(220
)
 
Derivatives:
 
 
 
 
Foreign currency contracts
Net operating revenues
$
(51
)
$
(70
)
 
Foreign currency contracts
Cost of goods sold
(7
)
(9
)
 
Interest rate contracts
Interest expense
3

6

 
 
Income before income taxes
$
(55
)
$
(73
)
 
 
Income taxes
21

28

 
 
Consolidated net income
$
(34
)
$
(45
)
 
Available-for-sale securities:
 
 
 
 
Sale of securities
Other income (loss) — net
$
2

$
2

 
 
Income before income taxes
$
2

$
2

 
 
Income taxes
—

—

 
 
Consolidated net income
$
2

$
2

 
Pension and other benefit liabilities:
 
 
 
 
Insignificant items
Other income (loss) — net
$
—

$
(1
)
 
Amortization of net actuarial loss
*
52

105

 
Amortization of prior service cost (credit)
*
(2
)
(6
)
 
 
Income before income taxes
$
50

$
98

 
 
Income taxes
(18
)
(36
)
 
 
Consolidated net income
$
32

$
62

 
*
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 condensed consolidated statements of income in its entirety. Refer to Note 12 for additional information.
1 
Primarily related to the disposition of our Philippine bottling operations in January 2013. Refer to Note 2 for additional information related to this transaction.