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OTHER COMPREHENSIVE INCOME (Tables)

6 Months Ended

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 derivatives1			(601)			—			(601)
Net change in unrealized gains (losses) on available-for-sale debt securities2			23			—			23
Net change in pension and other postretirement benefit liabilities			20			—			20
Total comprehensive income (loss)			$	8,225		$	77		$	8,302

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.

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 period1			(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 derivatives1			$	(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 securities2			$	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 period1			(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 derivatives1			$	(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 securities2			$	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 period1			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 derivatives1			$	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 securities2			$	(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)

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.

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 period1			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 derivatives1			$	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 securities2			$	(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)

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.

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:
Divestitures1			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:
Divestitures1			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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