Annual report pursuant to Section 13 and 15(d)

OTHER COMPREHENSIVE INCOME (Tables)

v3.6.0.2
OTHER COMPREHENSIVE INCOME (Tables)
 12 Months Ended
Dec. 31, 2016
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,
2016

 
2015

Foreign currency translation adjustments
$
(9,780
)
 
$
(9,167
)
Accumulated derivative net gains (losses)
314

 
696

Unrealized net gains (losses) on available-for-sale securities
305

 
288

Adjustments to pension and other benefit liabilities
(2,044
)
 
(1,991
)
Accumulated other comprehensive income (loss)
$
(11,205
)
 
$
(10,174
)
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, 2016
 
Shareowners of
The Coca-Cola Company

Noncontrolling
Interests

Total

Consolidated net income
$
6,527

$
23

$
6,550

Other comprehensive income:
 
 
 
Net foreign currency translation adjustment
(613
)
(13
)
(626
)
Net gain (loss) on derivatives1
(382
)
—

(382
)
Net change in unrealized gain (loss) on available-for-sale securities2
17

—

17

Net change in pension and other benefit liabilities3
(53
)
—

(53
)
Total comprehensive income
$
5,496

$
10

$
5,506


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
Refer to Note 3 for additional information related to the net unrealized gain or loss on available-for-sale securities.
3 
Refer to Note 13 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, 2016, 2015 and 2014, is as follows (in millions):
 
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 gain (loss) 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 gain (loss) 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 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 13 for additional information related to the Company's pension and other postretirement benefit liabilities.
 
Before-Tax Amount

 
Income Tax

 
After-Tax Amount

2015
 
 
 
 
 
Foreign currency translation adjustments:
 
 
 
 
 
Translation adjustment arising during the year
$
(4,626
)
 
$
243

 
$
(4,383
)
   Reclassification adjustments recognized in net income
63

 
(14
)
 
49

   Unrealized gains (losses) on net investment hedges arising during the year
637

 
(244
)
 
393

     Net foreign currency translation adjustment
(3,926
)
 
(15
)
 
(3,941
)
Derivatives:
 
 
 
 
 
Unrealized gains (losses) arising during the year
853

 
(314
)
 
539

Reclassification adjustments recognized in net income
(638
)
 
241

 
(397
)
Net gain (loss) on derivatives1
215

 
(73
)
 
142

Available-for-sale securities:
 
 
 
 
 
Unrealized gains (losses) arising during the year
(973
)
 
328

 
(645
)
Reclassification adjustments recognized in net income
(61
)
 
22

 
(39
)
Net change in unrealized gain (loss) on available-for-sale securities2
(1,034
)
 
350

 
(684
)
Pension and other benefit liabilities:
 
 
 
 
 
Net pension and other benefits arising during the year
(169
)
 
43

 
(126
)
Reclassification adjustments recognized in net income
337

 
(125
)
 
212

Net change in pension and other benefit liabilities3
168

 
(82
)
 
86

Other comprehensive income (loss) attributable to shareowners of The Coca-Cola Company
$
(4,577
)
 
$
180

 
$
(4,397
)
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 13 for additional information related to the Company's pension and other postretirement benefit liabilities.
 
Before-Tax Amount

 
Income Tax

 
After-Tax Amount

2014
 
 
 
 
 
Foreign currency translation adjustments:
 
 
 
 
 
Translation adjustment arising during the year
$
(2,560
)
 
$
183

 
$
(2,377
)
     Net foreign currency translation adjustment
(2,560
)
 
183

 
(2,377
)
Derivatives:
 
 
 
 
 
Unrealized gains (losses) arising during the year
620

 
(231
)
 
389

Reclassification adjustments recognized in net income
(50
)
 
18

 
(32
)
Net gain (loss) on derivatives1
570

 
(213
)
 
357

Available-for-sale securities:
 
 
 
 
 
Unrealized gains (losses) arising during the year
1,139

 
(412
)
 
727

Reclassification adjustments recognized in net income
(17
)
 
4

 
(13
)
Net change in unrealized gain (loss) on available-for-sale securities2
1,122

 
(408
)
 
714

Pension and other benefit liabilities:
 
 
 
 
 
Net pension and other benefits arising during the year
(1,666
)
 
588

 
(1,078
)
Reclassification adjustments recognized in net income
60

 
(21
)
 
39

Net change in pension and other benefit liabilities3
(1,606
)
 
567

 
(1,039
)
Other comprehensive income (loss) attributable to shareowners of The Coca-Cola Company
$
(2,474
)
 
$
129

 
$
(2,345
)
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 13 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 statements of income where adjustments reclassified from AOCI into income were recorded during the year ended December 31, 2016 (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
$
445

 
Income before income taxes
$
445

 
Income taxes
(48
)
 
Consolidated net income
$
397

Derivatives:
 
 
Foreign currency contracts
Net operating revenues
$
(564
)
Foreign currency and commodity contracts
Cost of goods sold
(33
)
Foreign currency contracts
Other income (loss) — net
6

Foreign currency and interest rate contracts
Interest expense
28

 
Income before income taxes
$
(563
)
 
Income taxes
213

 
Consolidated net income
$
(350
)
Available-for-sale securities:
 
 
Divestitures, deconsolidations and other1
Other income (loss) — net
$
(4
)
Sale of securities
Other income (loss) — net
(101
)
 
Income before income taxes
$
(105
)
 
Income taxes
26

 
Consolidated net income
$
(79
)
Pension and other benefit liabilities:
 
 
Divestitures, deconsolidations and other2
Other income (loss) — net
$
64

Recognized net actuarial loss (gain)
*
308

Recognized prior service cost (credit)
*
(30
)
 
Income before income taxes
$
342

 
Income taxes
(120
)
 
Consolidated net income
$
222

1 
Primarily related to the deconsolidation of our South African bottling operations and related equity method investment. Refer to Note 2.
2 
Related to the deconsolidation of our German bottling operations. Refer to Note 2.
*
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 consolidated statements of income in its entirety. Refer to Note 13.