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OTHER COMPREHENSIVE INCOME (Tables) | 6 Months Ended
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Jun. 27, 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):
| June 27, 2025 | December 31, 2024
Net foreign currency translation adjustments | $ | (13,967) |  | $ | (15,610) |
Accumulated net gains (losses) on derivatives | (485) |  | 116 |
Unrealized net gains (losses) on available-for-sale debt securities | (41) |  | (64) |
Adjustments to pension and other postretirement benefit liabilities | (1,265) |  | (1,285) |
Accumulated other comprehensive income (loss) | $ | (15,758) |  | $ | (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):
| Six Months Ended June 27, 2025
| Shareowners of The Coca-Cola Company | Noncontrolling Interests | Total
Consolidated net income | $ | 7,140 |  | $ | (2) |  | $ | 7,138 |
Other comprehensive income: |  |  |
Net foreign currency translation adjustments | 1,643 |  | 79 |  | 1,722 |
Net gains (losses) on derivatives 1 | (601) |  | — |  | (601) |
Net change in unrealized gains (losses) on available-for-sale debt securities 2 | 23 |  | — |  | 23 |
Net change in pension and other postretirement benefit liabilities | 20 |  | — |  | 20 |
Total comprehensive income (loss) | $ | 8,225 |  | $ | 77 |  | $ | 8,302 |
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 27, 2025 | Before-Tax Amount | Income Tax | After-Tax Amount
Foreign currency translation adjustments: |  |  |
Translation adjustments arising during the period | $ | 95 |  | $ | (84) |  | $ | 11 |
Gains (losses) on intra-entity transactions that are of a long-term investment nature | 1,901 |  | — |  | 1,901 |
Gains (losses) on net investment hedges arising during the period 1 | (1,139) |  | 284 |  | (855) |
Net foreign currency translation adjustments | $ | 857 |  | $ | 200 |  | $ | 1,057 |
Derivatives: |  |  |
Gains (losses) arising during the period | $ | (485) |  | $ | 118 |  | $ | (367) |
Reclassification adjustments recognized in net income | 30 |  | (7) |  | 23 |
Net gains (losses) on derivatives 1 | $ | (455) |  | $ | 111 |  | $ | (344) |
Available-for-sale debt securities: |  |  |
Unrealized gains (losses) arising during the period | $ | 16 |  | $ | (6) |  | $ | 10 |
Net change in unrealized gains (losses) on available-for-sale debt securities 2 | $ | 16 |  | $ | (6) |  | $ | 10 |
Pension and other postretirement benefit liabilities: |  |  |
Net pension and other postretirement benefit liabilities arising during the period | $ | (22) |  | $ | 4 |  | $ | (18) |
Reclassification adjustments recognized in net income | 26 |  | (7) |  | 19 |
Net change in pension and other postretirement benefit liabilities | $ | 4 |  | $ | (3) |  | $ | 1 |
Other comprehensive income (loss) attributable to shareowners of The Coca-Cola Company | $ | 422 |  | $ | 302 |  | $ | 724 |
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 27, 2025 | Before-Tax Amount | Income Tax | After-Tax Amount
Foreign currency translation adjustments: |  |  |
Translation adjustments arising during the period | $ | 103 |  | $ | (93) |  | $ | 10 |
Reclassification adjustments recognized in net income | 34 |  | (2) |  | 32 |
Gains (losses) on intra-entity transactions that are of a long-term investment nature | 2,911 |  | — |  | 2,911 |
Gains (losses) on net investment hedges arising during the period 1 | (1,745) |  | 435 |  | (1,310) |
Net foreign currency translation adjustments | $ | 1,303 |  | $ | 340 |  | $ | 1,643 |
Derivatives: |  |  |
Gains (losses) arising during the period | $ | (759) |  | $ | 187 |  | $ | (572) |
Reclassification adjustments recognized in net income | (39) |  | 10 |  | (29) |
Net gains (losses) on derivatives 1 | $ | (798) |  | $ | 197 |  | $ | (601) |
Available-for-sale debt securities: |  |  |
Unrealized gains (losses) arising during the period | $ | 32 |  | $ | (10) |  | $ | 22 |
Reclassification adjustments recognized in net income | 1 |  | — |  | 1 |
Net change in unrealized gains (losses) on available-for-sale debt securities 2 | $ | 33 |  | $ | (10) |  | $ | 23 |
Pension and other postretirement benefit liabilities: |  |  |
Net pension and other postretirement benefit liabilities arising during the period | $ | (39) |  | $ | 14 |  | $ | (25) |
Reclassification adjustments recognized in net income | 59 |  | (14) |  | 45 |
Net change in pension and other postretirement benefit liabilities | $ | 20 |  | $ | — |  | $ | 20 |
Other comprehensive income (loss) attributable to shareowners of The Coca-Cola Company | $ | 558 |  | $ | 527 |  | $ | 1,085 |
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 June 28, 2024 | Before-Tax Amount | Income Tax | After-Tax Amount
Foreign currency translation adjustments: |  |  |
Translation adjustments arising during the period | $ | (1,109) |  | $ | 127 |  | $ | (982) |
Gains (losses) on intra-entity transactions that are of a long-term investment nature | (170) |  | — |  | (170) |
Gains (losses) on net investment hedges arising during the period 1 | 107 |  | (27) |  | 80 |
Net foreign currency translation adjustments | $ | (1,172) |  | $ | 100 |  | $ | (1,072) |
Derivatives: |  |  |
Gains (losses) arising during the period | $ | 156 |  | $ | (35) |  | $ | 121 |
Reclassification adjustments recognized in net income | (4) |  | 1 |  | (3) |
Net gains (losses) on derivatives 1 | $ | 152 |  | $ | (34) |  | $ | 118 |
Available-for-sale debt securities: |  |  |
Unrealized gains (losses) arising during the period | $ | (38) |  | $ | 13 |  | $ | (25) |
Reclassification adjustments recognized in net income | (2) |  | — |  | (2) |
Net change in unrealized gains (losses) on available-for-sale debt securities 2 | $ | (40) |  | $ | 13 |  | $ | (27) |
Pension and other postretirement benefit liabilities: |  |  |
Net pension and other postretirement benefit liabilities arising during the period | $ | 4 |  | $ | 6 |  | $ | 10 |
Reclassification adjustments recognized in net income | 23 |  | (6) |  | 17 |
Net change in pension and other postretirement benefit liabilities | $ | 27 |  | $ | — |  | $ | 27 |
Other comprehensive income (loss) attributable to shareowners of The Coca-Cola Company | $ | (1,033) |  | $ | 79 |  | $ | (954) |
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 28, 2024 | Before-Tax Amount | Income Tax | After-Tax Amount
Foreign currency translation adjustments: |  |  |
Translation adjustments arising during the period | $ | (1,143) |  | $ | 92 |  | $ | (1,051) |
Reclassification adjustments recognized in net income | 103 |  | — |  | 103 |
Gains (losses) on intra-entity transactions that are of a long-term investment nature | (688) |  | — |  | (688) |
Gains (losses) on net investment hedges arising during the period 1 | 381 |  | (96) |  | 285 |
Net foreign currency translation adjustments | $ | (1,347) |  | $ | (4) |  | $ | (1,351) |
Derivatives: |  |  |
Gains (losses) arising during the period | $ | 183 |  | $ | (46) |  | $ | 137 |
Reclassification adjustments recognized in net income | 40 |  | (10) |  | 30 |
Net gains (losses) on derivatives 1 | $ | 223 |  | $ | (56) |  | $ | 167 |
Available-for-sale debt securities: |  |  |
Unrealized gains (losses) arising during the period | $ | (38) |  | $ | 13 |  | $ | (25) |
Reclassification adjustments recognized in net income | 4 |  | (1) |  | 3 |
Net change in unrealized gains (losses) on available-for-sale debt securities 2 | $ | (34) |  | $ | 12 |  | $ | (22) |
Pension and other postretirement benefit liabilities: |  |  |
Net pension and other postretirement benefit liabilities arising during the period | $ | (9) |  | $ | (2) |  | $ | (11) |
Reclassification adjustments recognized in net income | 45 |  | (11) |  | 34 |
Net change in pension and other postretirement benefit liabilities | $ | 36 |  | $ | (13) |  | $ | 23 |
Other comprehensive income (loss) attributable to shareowners of The Coca-Cola Company | $ | (1,122) |  | $ | (61) |  | $ | (1,183) |
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 Impacted | Three Months Ended June 27, 2025 |  | Six Months Ended June 27, 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 | $ | 69 |  |  | $ | 28 |
Foreign currency and commodity contracts | Cost of goods sold | 4 |  |  | (2) |
Foreign currency and interest rate contracts | Interest expense | 1 |  |  | 3 |
Foreign currency contracts | Other income (loss) — net | (44) |  |  | (68) |
| Income before income taxes | 30 |  |  | (39) |
| Income taxes | (7) |  |  | 10 |
| Consolidated net income | $ | 23 |  |  | $ | (29) |
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 | 26 |  |  | 51 |
Amortization of prior service cost (credit) | Other income (loss) — net | — |  |  | (1) |
| Income before income taxes | 26 |  |  | 59 |
| Income taxes | (7) |  |  | (14) |
| Consolidated net income | $ | 19 |  |  | $ | 45 |
1 Related to the sale of a portion of our ownership interest in CCEP. Refer to Note 2.

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