Accumulated Other Comprehensive Loss (Tables)

3 Months Ended

Mar. 20, 2021

The changes in the balances of each component of accumulated other comprehensive loss attributable to PepsiCo are as follows:


	Currency Translation Adjustment		Cash Flow Hedges		Pension and Retiree Medical		Other		Accumulated Other Comprehensive Loss Attributable to PepsiCo
Balance as of December 26, 2020 (a)	$	(11,940)	$	4	$	(3,520)	$	(20)	$	(15,476)
Other comprehensive (loss)/income before reclassifications (b)	128		97		(20)		—		205
Amounts reclassified from accumulated other comprehensive loss	18		(1)		52		—		69
Net other comprehensive (loss)/income	146		96		32		—		274
Tax amounts	(15)		(24)		(5)		—		(44)
Balance as of March 20, 2021 (a)	$	(11,809)	$	76	$	(3,493)	$	(20)	$	(15,246)

(a)Pension and retiree medical amounts are net of taxes of $1,514 million as of December 26, 2020 and $1,509 million as of March 20, 2021.

(b)Currency translation adjustment primarily reflects appreciation of the Canadian dollar, Pound sterling and Russian ruble.


	Currency Translation Adjustment		Cash Flow Hedges		Pension and Retiree Medical		Other		Accumulated Other Comprehensive Loss Attributable to PepsiCo
Balance as of December 28, 2019 (a)	$	(11,290)	$	(3)	$	(2,988)	$	(19)	$	(14,300)
Other comprehensive (loss)/income before reclassifications (b)	(735)		(236)		21		1		(949)
Amounts reclassified from accumulated other comprehensive loss	—		157		50		—		207
Net other comprehensive (loss)/income	(735)		(79)		71		1		(742)
Tax amounts	(19)		18		(14)		—		(15)
Balance as of March 21, 2020 (a)	$	(12,044)	$	(64)	$	(2,931)	$	(18)	$	(15,057)

(a)Pension and retiree medical amounts are net of taxes of $1,370 million as of December 28, 2019 and $1,356 million as of March 21, 2020.

(b)Currency translation adjustment primarily reflects depreciation of the Russian ruble, Canadian dollar and Mexican peso.

The reclassifications from accumulated other comprehensive loss to the income statement are summarized as follows:


	12 Weeks Ended
		3/20/2021		3/21/2020		Affected Line Item in the Income Statement



Currency translation:
Divestiture		$	18	$	—	Selling, general and administrative expenses

Cash flow hedges:
Foreign exchange contracts		$	1	$	—	Net revenue
Foreign exchange contracts		12		4		Cost of sales
Interest rate derivatives		(4)		150		Net interest expense and other
Commodity contracts		(11)		3		Cost of sales
Commodity contracts		1		—		Selling, general and administrative expenses
Net (gains)/losses before tax		(1)		157
Tax amounts		1		(39)
Net losses after tax		$	—	$	118

Pension and retiree medical items:
Amortization of prior service credits		$	(9)	$	—	Other pension and retiree medical benefits income
Amortization of net losses		61		50		Other pension and retiree medical benefits income

Net losses before tax		52		50
Tax amounts		(11)		(11)
Net losses after tax		$	41	$	39






Total net losses reclassified, net of tax		$	59	$	157