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OTHER COMPREHENSIVE INCOME (Tables) | 3 Months Ended
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Mar. 28, 2025
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):
| March 28, 2025 | December 31, 2024
Net foreign currency translation adjustments | $ | (15,024) |  | $ | (15,610) |
Accumulated net gains (losses) on derivatives | (141) |  | 116 |
Unrealized net gains (losses) on available-for-sale debt securities | (51) |  | (64) |
Adjustments to pension and other postretirement benefit liabilities | (1,266) |  | (1,285) |
Accumulated other comprehensive income (loss) | $ | (16,482) |  | $ | (16,843) |
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):
| Three Months Ended March 28, 2025
| Shareowners of The Coca-Cola Company | Noncontrolling Interests | Total
Consolidated net income | $ | 3,330 |  | $ | 5 |  | $ | 3,335 |
Other comprehensive income: |  |  |
Net foreign currency translation adjustments | 586 |  | 33 |  | 619 |
Net gains (losses) on derivatives 1 | (257) |  | — |  | (257) |
Net change in unrealized gains (losses) on available-for-sale debt securities 2 | 13 |  | — |  | 13 |
Net change in pension and other postretirement benefit liabilities | 19 |  | — |  | 19 |
Total comprehensive income (loss) | $ | 3,691 |  | $ | 38 |  | $ | 3,729 |
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 March 28, 2025 | Before-Tax Amount | Income Tax | After-Tax Amount
Foreign currency translation adjustments: |  |  |
Translation adjustments arising during the period | $ | 8 |  | $ | (9) |  | $ | (1) |
Reclassification adjustments recognized in net income | 34 |  | (2) |  | 32 |
Gains (losses) on intra-entity transactions that are of a long-term investment nature | 1,010 |  | — |  | 1,010 |
Gains (losses) on net investment hedges arising during the period 1 | (606) |  | 151 |  | (455) |
Net foreign currency translation adjustments | $ | 446 |  | $ | 140 |  | $ | 586 |
Derivatives: |  |  |
Gains (losses) arising during the period | $ | (274) |  | $ | 69 |  | $ | (205) |
Reclassification adjustments recognized in net income | (69) |  | 17 |  | (52) |
Net gains (losses) on derivatives 1 | $ | (343) |  | $ | 86 |  | $ | (257) |
Available-for-sale debt securities: |  |  |
Unrealized gains (losses) arising during the period | $ | 16 |  | $ | (4) |  | $ | 12 |
Reclassification adjustments recognized in net income | 1 |  | — |  | 1 |
Net change in unrealized gains (losses) on available-for-sale debt securities 2 | $ | 17 |  | $ | (4) |  | $ | 13 |
Pension and other postretirement benefit liabilities: |  |  |
Net pension and other postretirement benefit liabilities arising during the period | $ | (17) |  | $ | 10 |  | $ | (7) |
Reclassification adjustments recognized in net income | 33 |  | (7) |  | 26 |
Net change in pension and other postretirement benefit liabilities | $ | 16 |  | $ | 3 |  | $ | 19 |
Other comprehensive income (loss) attributable to shareowners of The Coca-Cola Company | $ | 136 |  | $ | 225 |  | $ | 361 |
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 March 29, 2024 | Before-Tax Amount | Income Tax | After-Tax Amount
Foreign currency translation adjustments: |  |  |
Translation adjustments arising during the period | $ | (34) |  | $ | (35) |  | $ | (69) |
Reclassification adjustments recognized in net income | 103 |  | — |  | 103 |
Gains (losses) on intra-entity transactions that are of a long-term investment nature | (518) |  | — |  | (518) |
Gains (losses) on net investment hedges arising during the period 1 | 274 |  | (69) |  | 205 |
Net foreign currency translation adjustments | $ | (175) |  | $ | (104) |  | $ | (279) |
Derivatives: |  |  |
Gains (losses) arising during the period | $ | 27 |  | $ | (11) |  | $ | 16 |
Reclassification adjustments recognized in net income | 44 |  | (11) |  | 33 |
Net gains (losses) on derivatives 1 | $ | 71 |  | $ | (22) |  | $ | 49 |
Available-for-sale debt securities: |  |  |
Reclassification adjustments recognized in net income | $ | 6 |  | $ | (1) |  | $ | 5 |
Net change in unrealized gains (losses) on available-for-sale debt securities 2 | $ | 6 |  | $ | (1) |  | $ | 5 |
Pension and other postretirement benefit liabilities: |  |  |
Net pension and other postretirement benefit liabilities arising during the period | $ | (13) |  | $ | (8) |  | $ | (21) |
Reclassification adjustments recognized in net income | 22 |  | (5) |  | 17 |
Net change in pension and other postretirement benefit liabilities | $ | 9 |  | $ | (13) |  | $ | (4) |
Other comprehensive income (loss) attributable to shareowners of The Coca-Cola Company | $ | (89) |  | $ | (140) |  | $ | (229) |
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 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 Impacted |  |  | Three Months Ended March 28, 2025
Foreign currency translation adjustments: |  |  |  |
Divestitures 1 | Other income (loss) — net |  |  | $ | 34 |
| Income before income taxes |  |  | 34 |
| Income taxes |  |  | (2) |
| Consolidated net income |  |  | $ | 32 |
Derivatives: |  |  |  |
Foreign currency contracts | Net operating revenues |  |  | $ | (41) |
Foreign currency and commodity contracts | Cost of goods sold |  |  | (6) |
Foreign currency and interest rate contracts | Interest expense |  |  | 2 |
Foreign currency contracts | Other income (loss) — net |  |  | (24) |
| Income before income taxes |  |  | (69) |
| Income taxes |  |  | 17 |
| Consolidated net income |  |  | $ | (52) |
Available-for-sale debt securities: |  |  |  |
Sale of debt securities | Other income (loss) — net |  |  | $ | 1 |
| Income before income taxes |  |  | 1 |
| Income taxes |  |  | — |
| Consolidated net income |  |  | $ | 1 |
Pension and other postretirement benefit liabilities: |  |  |  |
Divestitures 1 | Other income (loss) — net |  |  | $ | (2) |
Curtailment loss (gain) | Other income (loss) — net |  |  | 11 |
Amortization of net actuarial loss (gain) | Other income (loss) — net |  |  | 25 |
Amortization of prior service cost (credit) | Other income (loss) — net |  |  | (1) |
| Income before income taxes |  |  | 33 |
| Income taxes |  |  | (7) |
| Consolidated net income |  |  | $ | 26 |
1 Related to the sale of a portion of our ownership interest in CCEP. Refer to Note 2.

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