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

Quarterly report pursuant to Section 13 or 15(d)

Comprehensive Income (Tables)

Comprehensive Income (Tables)

3 Months Ended

Apr. 02, 2021

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 2, 2021		December 31, 2020
Net foreign currency translation adjustments	$	(12,024)	$	(12,028)
Accumulated net gains (losses) on derivatives	(90)		(194)
Unrealized net gains (losses) on available-for-sale debt securities	(32)		28
Adjustments to pension and other postretirement benefit liabilities	(1,987)		(2,407)
Accumulated other comprehensive income (loss)	$	(14,133)	$	(14,601)

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):


	Three Months Ended April 2, 2021
	Shareowners of The Coca-Cola Company		Noncontrolling Interests		Total
Consolidated net income	$	2,245	$	10	$	2,255
Other comprehensive income:
Net foreign currency translation adjustments	4		—		4
Net gains (losses) on derivatives1	104		—		104
Net change in unrealized gains (losses) on available-for-sale debt securities2	(60)		—		(60)
Net change in pension and other postretirement benefit liabilities	420		—		420

Total comprehensive income (loss)	$	2,713	$	10	$	2,723

1 Refer to Note 6 for additional information related to the net gains or losses on derivative instruments.

2 Refer 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 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.


Three Months Ended March 27, 2020	Before-Tax Amount		Income Tax		After-Tax Amount
Foreign currency translation adjustments:
Translation adjustments arising during the period	$	(2,281)	$	212	$	(2,069)
Reclassification adjustments recognized in net income	3		—		3
Gains (losses) on intra-entity transactions that are of a long-term investment nature	(157)		—		(157)
Gains (losses) on net investment hedges arising during the period1	76		(19)		57
Net foreign currency translation adjustments	$	(2,359)	$	193	$	(2,166)
Derivatives:
Gains (losses) arising during the period	$	23	$	(8)	$	15
Reclassification adjustments recognized in net income	1		—		1
Net gains (losses) on derivatives1	$	24	$	(8)	$	16
Available-for-sale debt securities:
Unrealized gains (losses) arising during the period	$	(8)	$	5	$	(3)
Reclassification adjustments recognized in net income	(6)		1		(5)
Net change in unrealized gains (losses) on available-for-sale debt securities2	$	(14)	$	6	$	(8)
Pension and other postretirement benefit liabilities:
Net pension and other postretirement benefit liabilities arising during the period	$	(25)	$	(1)	$	(26)
Reclassification adjustments recognized in net income	43		(11)		32
Net change in pension and other postretirement benefit liabilities	$	18	$	(12)	$	6
Other comprehensive income (loss) attributable to shareowners of The Coca-Cola Company	$	(2,331)	$	179	$	(2,152)

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.

Income statement location of adjustments reclassified from AOCI into income

The following table presents the amounts and line items in our condensed 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 2, 2021





Derivatives:
Foreign currency contracts	Net operating revenues	$	23
Foreign currency contracts	Cost of goods sold	1
Foreign currency contracts	Other income (loss) — net	(66)

Foreign currency and interest rate contracts	Interest expense	6
	Income before income taxes	(36)
	Income taxes	9
	Consolidated net income	$	(27)
Available-for-sale debt securities:

Sale of debt securities	Other income (loss) — net	$	3
	Income before income taxes	3
	Income taxes	(1)
	Consolidated net income	$	2
Pension and other postretirement benefit liabilities:

Settlement charges1	Other income (loss) — net	$	54


Recognized net actuarial loss	Other income (loss) — net	48
Recognized prior service cost (credit)	Other income (loss) — net	(1)

	Income before income taxes	101
	Income taxes	(25)
	Consolidated net income	$	76

1 The settlement charges were related to the strategic realignment initiatives. Refer to Note 12.