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OTHER COMPREHENSIVE INCOME (Tables)

12 Months Ended

Dec. 31, 2022

Equity [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,			2022			2021
Net foreign currency translation adjustments			$	(13,609)		$	(12,595)
Accumulated net gains (losses) on derivatives			24			20
Unrealized net gains (losses) on available-for-sale debt securities			(25)			(62)
Adjustments to pension and other postretirement benefit liabilities			(1,285)			(1,693)
Accumulated other comprehensive income (loss)			$	(14,895)		$	(14,330)

Comprehensive Income (Loss) Apportioned between Shareowners of the 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):

			Year Ended December 31, 2022
			Shareowners of The Coca-Cola Company			Noncontrolling Interests			Total
Consolidated net income			$	9,542		$	29		$	9,571
Other comprehensive income:
Net foreign currency translation adjustments			(1,014)			(118)			(1,132)
Net gains (losses) on derivatives1			4			—			4
Net change in unrealized gains (losses) on available-for-sale debt    securities2			37			—			37
Net change in pension and other postretirement benefit liabilities3			408			—			408
Total comprehensive income			$	8,977		$	(89)		$	8,888

1 Refer to Note 5 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.

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

The following tables present OCI attributable to shareowners of The Coca-Cola Company, including our proportionate share of equity method investees’ OCI (in millions):

			Before-Tax Amount			Income Tax			After-Tax Amount
2022
Foreign currency translation adjustments:
Translation adjustments arising during the year			$	(125)		$	(226)		$	(351)
Reclassification adjustments recognized in net income			200			—			200
Gains (losses) on intra-entity transactions that are of a long-term investment nature			(1,419)			—			(1,419)
Gains (losses) on net investment hedges arising during the year1			741			(185)			556
Net foreign currency translation adjustments			$	(603)		$	(411)		$	(1,014)
Derivatives:
Gains (losses) arising during the year			$	165		$	(40)		$	125
Reclassification adjustments recognized in net income			(161)			40			(121)
Net gains (losses) on derivatives1			$	4		$	—		$	4
Available-for-sale debt securities:
Unrealized gains (losses) arising during the year			$	(69)		$	4		$	(65)
Reclassification adjustments recognized in net income			131			(29)			102
Net change in unrealized gains (losses) on available-for-sale debt securities2			$	62		$	(25)		$	37
Pension and other postretirement benefit liabilities:
Net pension and other postretirement benefit liabilities arising during the year			$	420		$	(90)		$	330
Reclassification adjustments recognized in net income			104			(26)			78
Net change in pension and other postretirement benefit liabilities3			$	524		$	(116)		$	408
Other comprehensive income (loss) attributable to shareowners of The Coca-Cola    Company			$	(13)		$	(552)		$	(565)

2021
Foreign currency translation adjustments:
Translation adjustments arising during the year			$	263		$	19		$	282
Reclassification adjustments recognized in net income			257			—			257
Gains (losses) on intra-entity transactions that are of a long-term investment nature			(1,798)			—			(1,798)
Gains (losses) on net investment hedges arising during the year1			918			(230)			688
Reclassification adjustments for net investment hedges recognized in net income			4			—			4
Net foreign currency translation adjustments			$	(356)		$	(211)		$	(567)
Derivatives:
Gains (losses) arising during the year			$	160		$	(41)		$	119
Reclassification adjustments recognized in net income			124			(29)			95
Net gains (losses) on derivatives1			$	284		$	(70)		$	214
Available-for-sale debt securities:
Unrealized gains (losses) arising during the year			$	(141)		$	48		$	(93)
Reclassification adjustments recognized in net income			4			(1)			3
Net change in unrealized gains (losses) on available-for-sale debt securities2			$	(137)		$	47		$	(90)
Pension and other postretirement benefit liabilities:
Net pension and other postretirement benefit liabilities arising during the year			$	653		$	(138)		$	515
Reclassification adjustments recognized in net income			265			(66)			199
Net change in pension and other postretirement benefit liabilities3			$	918		$	(204)		$	714
Other comprehensive income (loss) attributable to shareowners of The Coca-Cola    Company			$	709		$	(438)		$	271

			Before-Tax Amount			Income Tax			After-Tax Amount
2020
Foreign currency translation adjustments:
Translation adjustments arising during the year			$	(2,223)		$	150		$	(2,073)
Reclassification adjustments recognized in net income			3			—			3
Gains (losses) on intra-entity transactions that are of a long-term investment nature			2,133			—			2,133
Gains (losses) on net investment hedges arising during the year1			(1,094)			273			(821)
Net foreign currency translation adjustments			$	(1,181)		$	423		$	(758)
Derivatives:
Gains (losses) arising during the year			$	(54)		$	13		$	(41)
Reclassification adjustments recognized in net income			74			(18)			56
Net gains (losses) on derivatives1			$	20		$	(5)		$	15
Available-for-sale debt securities:
Unrealized gains (losses) arising during the year			$	(64)		$	22		$	(42)
Reclassification adjustments recognized in net income			(7)			2			(5)
Net change in unrealized gains (losses) on available-for-sale debt securities2			$	(71)		$	24		$	(47)
Pension and other postretirement benefit liabilities:
Net pension and other postretirement benefit liabilities arising during the year			$	(560)		$	138		$	(422)
Reclassification adjustments recognized in net income			206			(51)			155
Net change in pension and other postretirement benefit liabilities3			$	(354)		$	87		$	(267)
Other comprehensive income (loss) attributable to shareowners of The Coca-Cola    Company			$	(1,586)		$	529		$	(1,057)

1Refer to Note 5 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.

3Refer to Note 13 for additional information related to the Company’s pension and other postretirement benefit liabilities.

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 during the year ended December 31, 2022 (in millions):

Description of AOCI Component			Financial Statement Line Item			Amount Reclassified from AOCI into Income
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			$	(218)
Foreign currency and commodity contracts			Cost of goods sold			(26)
Foreign currency contracts			Other income (loss) — net			79
Foreign currency contracts			Interest expense			4
			Income before income taxes			(161)
			Income taxes			40
			Consolidated net income			$	(121)
Available-for-sale debt securities:
Sale of debt securities			Other income (loss) — net			$	131
			Income before income taxes			131
			Income taxes			(29)
			Consolidated net income			$	102
Pension and other postretirement benefit liabilities:
Settlement charges (credits)			Other income (loss) — net			$	(1)
Curtailment charges (credits)			Other income (loss) — net			(1)
Recognized net actuarial loss			Other income (loss) — net			109
Recognized prior service cost (credit)			Other income (loss) — net			(3)
			Income before income taxes			104
			Income taxes			(26)
			Consolidated net income			$	78

1 Refer to Note 2.

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