XML 46 R33.htm IDEA: XBRL DOCUMENT
v3.23.2

OTHER COMPREHENSIVE INCOME (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2023
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):
| June 30, 2023 | December 31, 2022
Net foreign currency translation adjustments | $ | (12,658) |  | $ | (13,609) |
Accumulated net gains (losses) on derivatives | (71) |  | 24 |
Unrealized net gains (losses) on available-for-sale debt securities | (16) |  | (25) |
Adjustments to pension and other postretirement benefit liabilities | (1,272) |  | (1,285) |
Accumulated other comprehensive income (loss) | $ | (14,017) |  | $ | (14,895) |
Comprehensive Income (Loss), Apportioned between Shareowners of 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):
| Six Months Ended June 30, 2023
| Shareowners of The Coca-Cola Company | Noncontrolling Interests | Total
Consolidated net income | $ | 5,654 |  | $ | (20) |  | $ | 5,634 |
Other comprehensive income: |  |  |
Net foreign currency translation adjustments | 951 |  | (150) |  | 801 |
Net gains (losses) on derivatives 1 | (95) |  | — |  | (95) |
Net change in unrealized gains (losses) on available-for-sale debt securities 2 | 9 |  | — |  | 9 |
Net change in pension and other postretirement benefit liabilities | 13 |  | — |  | 13 |
Total comprehensive income (loss) | $ | 6,532 |  | $ | (170) |  | $ | 6,362 |
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 June 30, 2023 | Before-Tax Amount | Income Tax | After-Tax Amount
Foreign currency translation adjustments: |  |  |
Translation adjustments arising during the period | $ | 300 |  | $ | (63) |  | $ | 237 |
Gains (losses) on intra-entity transactions that are of a long-term investment nature | 151 |  | — |  | 151 |
Gains (losses) on net investment hedges arising during the period 1 | (81) |  | 20 |  | (61) |
Net foreign currency translation adjustments | $ | 370 |  | $ | (43) |  | $ | 327 |
Derivatives: |  |  |
Gains (losses) arising during the period | $ | (31) |  | $ | 3 |  | $ | (28) |
Reclassification adjustments recognized in net income | 4 |  | (1) |  | 3 |
Net gains (losses) on derivatives 1 | $ | (27) |  | $ | 2 |  | $ | (25) |
Available-for-sale debt securities: |  |  |
Unrealized gains (losses) arising during the period | $ | 4 |  | $ | (3) |  | $ | 1 |
Reclassification adjustments recognized in net income | (1) |  | 1 |  | — |
Net change in unrealized gains (losses) on available-for-sale debt securities 2 | $ | 3 |  | $ | (2) |  | $ | 1 |
Pension and other postretirement benefit liabilities: |  |  |
Net pension and other postretirement benefit liabilities arising during the period | $ | (11) |  | $ | (4) |  | $ | (15) |
Reclassification adjustments recognized in net income | 22 |  | (5) |  | 17 |
Net change in pension and other postretirement benefit liabilities | $ | 11 |  | $ | (9) |  | $ | 2 |
Other comprehensive income (loss) attributable to shareowners of The Coca-Cola Company | $ | 357 |  | $ | (52) |  | $ | 305 |
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.
Six Months Ended June 30, 2023 | Before-Tax Amount | Income Tax | After-Tax Amount
Foreign currency translation adjustments: |  |  |
Translation adjustments arising during the period | $ | 737 |  | $ | (154) |  | $ | 583 |
Reclassification adjustments recognized in net income | 101 |  | — |  | 101 |
Gains (losses) on intra-entity transactions that are of a long-term investment nature | 443 |  | — |  | 443 |
Gains (losses) on net investment hedges arising during the period 1 | (235) |  | 59 |  | (176) |
Net foreign currency translation adjustments | $ | 1,046 |  | $ | (95) |  | $ | 951 |
Derivatives: |  |  |
Gains (losses) arising during the period | $ | (107) |  | $ | 10 |  | $ | (97) |
Reclassification adjustments recognized in net income | 3 |  | (1) |  | 2 |
Net gains (losses) on derivatives 1 | $ | (104) |  | $ | 9 |  | $ | (95) |
Available-for-sale debt securities: |  |  |
Unrealized gains (losses) arising during the period | $ | 13 |  | $ | (6) |  | $ | 7 |
Reclassification adjustments recognized in net income | 2 |  | — |  | 2 |
Net change in unrealized gains (losses) on available-for-sale debt securities 2 | $ | 15 |  | $ | (6) |  | $ | 9 |
Pension and other postretirement benefit liabilities: |  |  |
Net pension and other postretirement benefit liabilities arising during the period | $ | (16) |  | $ | (6) |  | $ | (22) |
Reclassification adjustments recognized in net income | 44 |  | (9) |  | 35 |
Net change in pension and other postretirement benefit liabilities | $ | 28 |  | $ | (15) |  | $ | 13 |
Other comprehensive income (loss) attributable to shareowners of The Coca-Cola Company | $ | 985 |  | $ | (107) |  | $ | 878 |
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.
Three Months Ended July 1, 2022 | Before-Tax Amount | Income Tax | After-Tax Amount
Foreign currency translation adjustments: |  |  |
Translation adjustments arising during the period | $ | (950) |  | $ | 27 |  | $ | (923) |
Gains (losses) on intra-entity transactions that are of a long-term investment nature | (1,333) |  | — |  | (1,333) |
Gains (losses) on net investment hedges arising during the period 1 | 709 |  | (177) |  | 532 |
Net foreign currency translation adjustments | $ | (1,574) |  | $ | (150) |  | $ | (1,724) |
Derivatives: |  |  |
Gains (losses) arising during the period | $ | 97 |  | $ | (31) |  | $ | 66 |
Reclassification adjustments recognized in net income | 36 |  | (9) |  | 27 |
Net gains (losses) on derivatives 1 | $ | 133 |  | $ | (40) |  | $ | 93 |
Available-for-sale debt securities: |  |  |
Unrealized gains (losses) arising during the period | $ | 2 |  | $ | 2 |  | $ | 4 |
Reclassification adjustments recognized in net income | 1 |  | — |  | 1 |
Net change in unrealized gains (losses) on available-for-sale debt securities 2 | $ | 3 |  | $ | 2 |  | $ | 5 |
Pension and other postretirement benefit liabilities: |  |  |
Net pension and other postretirement benefit liabilities arising during the period | $ | 198 |  | $ | (54) |  | $ | 144 |
Reclassification adjustments recognized in net income | 28 |  | (7) |  | 21 |
Net change in pension and other postretirement benefit liabilities | $ | 226 |  | $ | (61) |  | $ | 165 |
Other comprehensive income (loss) attributable to shareowners of The Coca-Cola Company | $ | (1,212) |  | $ | (249) |  | $ | (1,461) |
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.
Six Months Ended July 1, 2022 | Before-Tax Amount | Income Tax | After-Tax Amount
Foreign currency translation adjustments: |  |  |
Translation adjustments arising during the period | $ | 374 |  | $ | (213) |  | $ | 161 |
Reclassification adjustments recognized in net income | 200 |  | — |  | 200 |
Gains (losses) on intra-entity transactions that are of a long-term investment nature | (2,003) |  | — |  | (2,003) |
Gains (losses) on net investment hedges arising during the period 1 | 1,058 |  | (264) |  | 794 |
Net foreign currency translation adjustments | $ | (371) |  | $ | (477) |  | $ | (848) |
Derivatives: |  |  |
Gains (losses) arising during the period | $ | 180 |  | $ | (52) |  | $ | 128 |
Reclassification adjustments recognized in net income | 39 |  | (10) |  | 29 |
Net gains (losses) on derivatives 1 | $ | 219 |  | $ | (62) |  | $ | 157 |
Available-for-sale debt securities: |  |  |
Unrealized gains (losses) arising during the period | $ | (44) |  | $ | 10 |  | $ | (34) |
Reclassification adjustments recognized in net income | 5 |  | (1) |  | 4 |
Net change in unrealized gains (losses) on available-for-sale debt securities 2 | $ | (39) |  | $ | 9 |  | $ | (30) |
Pension and other postretirement benefit liabilities: |  |  |
Net pension and other postretirement benefit liabilities arising during the period | $ | 266 |  | $ | (58) |  | $ | 208 |
Reclassification adjustments recognized in net income | 56 |  | (14) |  | 42 |
Net change in pension and other postretirement benefit liabilities | $ | 322 |  | $ | (72) |  | $ | 250 |
Other comprehensive income (loss) attributable to shareowners of The Coca-Cola Company | $ | 131 |  | $ | (602) |  | $ | (471) |
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.
Reclassification out of Accumulated Other Comprehensive Income | The following table presents the amounts and line items in our 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 June 30, 2023 |  | Six Months Ended June 30, 2023
Foreign currency translation adjustments: |  |  |  |
Divestitures, deconsolidations and other 1 | Other income (loss) — net | $ | — |  |  | $ | 101 |
| Income before income taxes | — |  |  | 101 |
| Income taxes | — |  |  | — |
| Consolidated net income | $ | — |  |  | $ | 101 |
Derivatives: |  |  |  |
Foreign currency contracts | Net operating revenues | $ | 7 |  |  | $ | 6 |
Foreign currency contracts and commodity contracts | Cost of goods sold | (1) |  |  | (2) |
Foreign currency contracts | Interest expense | 1 |  |  | 2 |
Foreign currency contracts | Other income (loss) — net | (3) |  |  | (3) |
| Income before income taxes | 4 |  |  | 3 |
| Income taxes | (1) |  |  | (1) |
| Consolidated net income | $ | 3 |  |  | $ | 2 |
Available-for-sale debt securities: |  |  |  |
Sale of debt securities | Other income (loss) — net | $ | (1) |  |  | $ | 2 |
| Income before income taxes | (1) |  |  | 2 |
| Income taxes | 1 |  |  | — |
| Consolidated net income | $ | — |  |  | $ | 2 |
Pension and other postretirement benefit liabilities: |  |  |  |
Recognized net actuarial loss | Other income (loss) — net | $ | 22 |  |  | $ | 45 |
Recognized prior service cost (credit) | Other income (loss) — net | — |  |  | (1) |
| Income before income taxes | 22 |  |  | 44 |
| Income taxes | (5) |  |  | (9) |
| Consolidated net income | $ | 17 |  |  | $ | 35 |
1 Related to the refranchising of our bottling operations in Vietnam and the sale of our ownership interest in one of our equity method investees. Refer to Note 2.

X
- Definition Summarizes the allocation of total comprehensive income (loss), including the proportionate share of equity method investees' other comprehensive income (loss), between shareowners of the parent and noncontrolling interests. + References No definition available. + Details
Name: | ko_ComprehensiveIncomeOrLossApportionedBetweenShareownersOfTheCocaColaCompanyAndNoncontrollingInterestsTableTextBlock
Namespace Prefix: | ko_
Data Type: | dtr-types1:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss). + References No definition available. + Details
Name: | us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-14A Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481674/830-30-50-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481694/830-30-45-20 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Paragraph 1 -Section 45 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-1 + Details
Name: | us-gaap_ScheduleOfComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration