Quarterly report pursuant to Section 13 or 15(d)

Comprehensive Income (Tables)

v3.10.0.1
Comprehensive Income (Tables)
 9 Months Ended
Sep. 28, 2018
Comprehensive Income  
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):
 
September 28,
2018

 
December 31, 2017

Foreign currency translation adjustments
$
(10,616
)
 
$
(8,957
)
Accumulated derivative net gains (losses)
(97
)
 
(119
)
Unrealized net gains (losses) on available-for-sale securities1
(7
)
 
493

Adjustments to pension and other benefit liabilities
(1,350
)
 
(1,722
)
Accumulated other comprehensive income (loss)
$
(12,070
)
 
$
(10,305
)
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):
 
Nine Months Ended September 28, 2018
 
Shareowners of
The Coca-Cola Company

Noncontrolling
Interests

Total

Consolidated net income
$
5,564

$
(15
)
$
5,549

Other comprehensive income:
 
 
 
Net foreign currency translation adjustments
(1,659
)
24

(1,635
)
Net gains (losses) on derivatives1
22

—

22

Net change in unrealized gain (loss) on available-for-sale debt
   securities2
(91
)
—

(91
)
Net change in pension and other benefit liabilities3
372

—

372

Total comprehensive income
$
4,208

$
9

$
4,217

1 Refer to Note 6 for additional information related to the net gains or losses on derivative instruments designated and qualifying as cash flow hedging 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 13 for additional information related to the Company's pension and other postretirement benefit liabilities.
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 September 28, 2018
Before-Tax Amount

 
Income Tax

 
After-Tax Amount

Foreign currency translation adjustments:
 
 
 
 
 
Translation adjustments arising during the period
$
(446
)
 
$
19

 
$
(427
)
Reclassification adjustments recognized in net income
170

 
—

 
170

Gains (losses) on intra-entity transactions that are of a long-term investment nature
(119
)
 
—

 
(119
)
Gains (losses) on net investment hedges arising during the period1
59

 
(15
)
 
44

Net foreign currency translation adjustments
$
(336
)
 
$
4

 
$
(332
)
Derivatives:

 

 

Gains (losses) arising during the period
$
19

 
$
(7
)
 
$
12

Reclassification adjustments recognized in net income
(58
)
 
16

 
(42
)
Net gains (losses) on derivatives1
$
(39
)
 
$
9

 
$
(30
)
Available-for-sale debt securities:

 

 

Unrealized gains (losses) arising during the period
$
(13
)
 
$
24

 
$
11

Reclassification adjustments recognized in net income
(3
)
 
2

 
(1
)
Net change in unrealized gain (loss) on available-for-sale debt securities2
$
(16
)
 
$
26

 
$
10

Pension and other benefit liabilities:

 

 

Net pension and other benefit liabilities arising during the period
$
7

 
$
—

 
$
7

Reclassification adjustments recognized in net income
65

 
(16
)
 
49

Net change in pension and other benefit liabilities3
$
72

 
$
(16
)
 
$
56

Other comprehensive income (loss) attributable to shareowners of The Coca-Cola
   Company
$
(319
)
 
$
23

 
$
(296
)
1 
Refer to Note 6 for additional information related to the net gains or losses on derivative instruments designated and qualifying as cash flow hedging instruments.
2 
Includes reclassification adjustments related to divestitures of certain available-for-sale debt securities. Refer to Note 4 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.

Nine Months Ended September 28, 2018
Before-Tax Amount

 
Income Tax

 
After-Tax Amount

Foreign currency translation adjustments:
 
 
 
 
 
Translation adjustments arising during the period
$
(1,431
)
 
$
(66
)
 
$
(1,497
)
Reclassification adjustments recognized in net income
268

 
—

 
268

Gains (losses) on intra-entity transactions that are of a long-term investment nature
(695
)
 
—

 
(695
)
Gains (losses) on net investment hedges arising during the period1
353

 
(88
)
 
265

Net foreign currency translation adjustments
$
(1,505
)
 
$
(154
)
 
$
(1,659
)
Derivatives:
 
 
 
 
 
Gains (losses) arising during the period
$
84

 
$
(21
)
 
$
63

Reclassification adjustments recognized in net income
(56
)
 
15

 
(41
)
Net gains (losses) on derivatives1
$
28

 
$
(6
)
 
$
22

Available-for-sale debt securities:
 
 
 
 
 
Unrealized gains (losses) arising during the period
$
(139
)
 
$
45

 
$
(94
)
Reclassification adjustments recognized in net income
2

 
1

 
3

Net change in unrealized gain (loss) on available-for-sale debt securities2
$
(137
)
 
$
46

 
$
(91
)
Pension and other benefit liabilities:
 
 
 
 
 
Net pension and other benefit liabilities arising during the period
$
278

 
$
(62
)
 
$
216

Reclassification adjustments recognized in net income
209

 
(53
)
 
156

Net change in pension and other benefit liabilities3
$
487

 
$
(115
)
 
$
372

Other comprehensive income (loss) attributable to shareowners of The Coca-Cola
   Company
$
(1,127
)
 
$
(229
)
 
$
(1,356
)
1 
Refer to Note 6 for additional information related to the net gains or losses on derivative instruments designated and qualifying as cash flow hedging instruments.
2 
Includes reclassification adjustments related to divestitures of certain available-for-sale debt securities. Refer to Note 4 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.
Three Months Ended September 29, 2017
Before-Tax Amount

 
Income Tax

 
After-Tax Amount

Foreign currency translation adjustments:
 
 
 
 
 
Translation adjustments arising during the period
$
162

 
$
(174
)
 
$
(12
)
Reclassification adjustments recognized in net income
(17
)
 
—

 
(17
)
Gains (losses) on intra-entity transactions that are of a long-term investment nature
1,063

 
—

 
1,063

Gains (losses) on net investment hedges arising during the period1
(553
)
 
211

 
(342
)
Net foreign currency translation adjustments
$
655

 
$
37

 
$
692

Derivatives:
 
 
 
 
 
Gains (losses) arising during the period
$
54

 
$
(19
)
 
$
35

Reclassification adjustments recognized in net income
(207
)
 
76

 
(131
)
Net gains (losses) on derivatives1
$
(153
)
 
$
57

 
$
(96
)
Available-for-sale securities:
 
 
 
 
 
Unrealized gains (losses) arising during the period
$
20

 
$
(17
)
 
$
3

Reclassification adjustments recognized in net income
(4
)
 
2

 
(2
)
Net change in unrealized gain (loss) on available-for-sale securities2
$
16

 
$
(15
)
 
$
1

Pension and other benefit liabilities:
 
 
 
 
 
Net pension and other benefit liabilities arising during the period
$
(120
)
 
$
49

 
$
(71
)
Reclassification adjustments recognized in net income
193

 
(73
)
 
120

Net change in pension and other benefit liabilities3
$
73

 
$
(24
)
 
$
49

Other comprehensive income (loss) attributable to shareowners of The Coca-Cola
Company
$
591

 
$
55

 
$
646

1 
Refer to Note 6 for additional information related to the net gains or losses 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 4 and Note 11 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.
Nine Months Ended September 29, 2017
Before-Tax Amount

 
Income Tax

 
After-Tax Amount

Foreign currency translation adjustments:
 
 
 
 
 
Translation adjustments arising during the period
$
(793
)
 
$
(142
)
 
$
(935
)
Reclassification adjustments recognized in net income
103

 
(6
)
 
97

Gains (losses) on intra-entity transactions that are of a long-term investment nature
3,270

 
—

 
3,270

Gains (losses) on net investment hedges arising during the period1
(1,494
)
 
571

 
(923
)
Net foreign currency translation adjustments
$
1,086

 
$
423

 
$
1,509

Derivatives:
 
 
 
 
 
Gains (losses) arising during the period
$
(159
)
 
$
56

 
$
(103
)
Reclassification adjustments recognized in net income
(466
)
 
175

 
(291
)
Net gains (losses) on derivatives1
$
(625
)
 
$
231

 
$
(394
)
Available-for-sale securities:
 
 
 
 
 
Unrealized gains (losses) arising during the period
$
365

 
$
(123
)
 
$
242

Reclassification adjustments recognized in net income
(117
)
 
40

 
(77
)
Net change in unrealized gain (loss) on available-for-sale securities2
$
248

 
$
(83
)
 
$
165

Pension and other benefit liabilities:
 
 
 
 
 
Net pension and other benefit liabilities arising during the period
$
(161
)
 
$
73

 
$
(88
)
Reclassification adjustments recognized in net income
266

 
(96
)
 
170

Net change in pension and other benefit liabilities3
$
105

 
$
(23
)
 
$
82

Other comprehensive income (loss) attributable to shareowners of The Coca-Cola
Company
$
814

 
$
548

 
$
1,362

1 
Refer to Note 6 for additional information related to the net gains or losses 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 4 and Note 11 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.

Income statement location of adjustments reclassified from 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 (in millions):
 
 
Amount Reclassified from
AOCI into Income
 
Description of AOCI Component
Financial Statement Line Item
Three Months Ended September 28, 2018
 
Nine Months Ended September 28, 2018
 
Foreign currency translation
   adjustments:
 
 
 
 
 
Divestitures, deconsolidations and
   other1,2
Other income (loss) — net
$
170

 
$
268

 
 
Income from continuing operations before
   income taxes
170

 
268

 
 
Consolidated net income
$
170

 
$
268

 
Derivatives:
 
 
 
 
 
Foreign currency contracts
Net operating revenues
$
(43
)
 
$
(98
)
 
Foreign currency contracts
Cost of goods sold
(4
)
 
(5
)
 
Foreign currency contracts
Other income (loss) — net
(25
)
 
(7
)
 
Divestitures, deconsolidations and
   other
Other income (loss) — net
3

 
3

 
Foreign currency and commodity
   contracts
Income from discontinued operations
—

 
8

 
Foreign currency and interest rate
   contracts
Interest expense
11

 
43

 
 
Income from continuing operations before
   income taxes
(58
)
 
(56
)
 
 
Income taxes from continuing operations
16

 
15

 
 
Consolidated net income
$
(42
)
 
$
(41
)
 
Available-for-sale debt securities:
 
 
 
 
 
Sale of debt securities
Other income (loss) — net
$
(3
)
 
$
2

 
 
Income from continuing operations before
   income taxes
(3
)
 
2

 
 
Income taxes from continuing operations
2

 
1

 
 
Consolidated net income
$
(1
)
 
$
3

 
Pension and other benefit liabilities:
 
 
 
 
 
Curtailment charges
Other income (loss) — net
$
5

 
$
5

 
Settlement charges
Other income (loss) — net
35

 
121

 
Recognized net actuarial loss
Other income (loss) — net
30

 
95

 
Recognized prior service cost
   (credit)
Other income (loss) — net
(5
)
 
(8
)
 
Divestitures, deconsolidations and
   other2
Other income (loss) — net
—

 
(4
)
 
 
Income from continuing operations before
   income taxes
65

 
209

 
 
Income taxes from continuing operations
(16
)
 
(53
)
 
 
Consolidated net income
$
49

 
$
156

 
1 
Primarily related to the reversal of the cumulative translation adjustments resulting from the substantial liquidation of the Company's former Russian juice operations and the deconsolidation of our Canadian bottling operations.
2 
Primarily related to the refranchising of our Latin American bottling operations.