COCA COLA CO | 2013 | FY | 3

OTHER COMPREHENSIVE INCOME
AOCI attributable to shareowners of The Coca-Cola Company is separately presented on our consolidated balance sheets as a component of The Coca-Cola Company's shareowners' equity, which also includes our proportionate share of equity method investees' AOCI. Other comprehensive income (loss) ("OCI") attributable to noncontrolling interests is allocated to, and included in, our balance sheets as part of the line item equity attributable to noncontrolling interests. AOCI attributable to shareowners of The Coca-Cola Company consisted of the following (in millions):
December 31,
2013

 
2012

Foreign currency translation adjustment
$
(2,849
)
 
$
(1,665
)
Accumulated derivative net gains (losses)
197

 
46

Unrealized net gains (losses) on available-for-sale securities
258

 
338

Adjustments to pension and other benefit liabilities
(1,038
)
 
(2,104
)
Accumulated other comprehensive income (loss)
$
(3,432
)
 
$
(3,385
)

The following table summarizes the allocation of total comprehensive income between shareowners of The Coca-Cola Company and noncontrolling interests (in millions):
 
Year Ended December 31, 2013
 
Shareowners of
The Coca-Cola Company

Noncontrolling
Interests

Total

Consolidated net income
$
8,584

$
42

$
8,626

Other comprehensive income:
 
 
 
Net foreign currency translation adjustment
(1,184
)
(3
)
(1,187
)
Net gain (loss) on derivatives1
151

—

151

Net unrealized gain (loss) on available-for-sale securities2
(80
)
—

(80
)
Net change in pension and other benefit liabilities3
1,066

—

1,066

Total comprehensive income
$
8,537

$
39

$
8,576


1
Refer to Note 5 for additional information related to the net gain or loss on derivative instruments designated and qualifying as cash flow hedging instruments.
2
Refer to Note 3 for information related to the net unrealized gain or loss on available-for-sale securities.
3 
Refer to Note 13 for additional information related to the Company's pension and other postretirement benefit liabilities.
OCI attributable to shareowners of The Coca-Cola Company, including our proportionate share of equity method investees' OCI, for the years ended December 31, 2013, 2012 and 2011, is as follows (in millions):
 
Before-Tax Amount

 
Income Tax

 
After-Tax Amount

2013
 
 
 
 
 
Foreign currency translation adjustments:
 
 
 
 
 
Translation adjustment arising in the period
$
(1,046
)
 
$
56

 
$
(990
)
Reclassification adjustments recognized in net income
(194
)
 
—

 
(194
)
     Net foreign currency translation adjustment
(1,240
)
 
56

 
(1,184
)
Derivatives:
 
 
 
 
 
Unrealized gains (losses) arising during the year
425

 
(173
)
 
252

Reclassification adjustments recognized in net income
(167
)
 
66

 
(101
)
Net gain (loss) on derivatives1
258

 
(107
)
 
151

Available-for-sale securities:
 
 
 
 
 
Unrealized gains (losses) arising during the year
(134
)
 
42

 
(92
)
Reclassification adjustments recognized in net income
12

 
—

 
12

Net change in unrealized gain (loss) on available-for-sale securities2
(122
)
 
42

 
(80
)
Pension and other benefit liabilities:
 
 
 
 
 
Net pension and other benefits arising during the year
1,490

 
(550
)
 
940

Reclassification adjustments recognized in net income
198

 
(72
)
 
126

Net change in pension and other benefit liabilities3
1,688

 
(622
)
 
1,066

Other comprehensive income (loss) attributable to The Coca-Cola Company
$
584

 
$
(631
)
 
$
(47
)
1 
Refer to Note 5 for additional information related to the net gain or loss on derivative instruments designated and qualifying as cash flow hedging instruments.
2 
Includes reclassification adjustments related to divestitures of certain available-for-sale securities. Refer to Note 3 for additional information related to these divestitures.
3 
Refer to Note 13 for additional information related to the Company's pension and other postretirement benefit liabilities.
 
Before-Tax Amount

 
Income Tax

 
After-Tax Amount

2012
 
 
 
 
 
Net foreign currency translation adjustment
$
(219
)
 
$
(1
)
 
$
(220
)
Derivatives:
 
 
 
 
 
Unrealized gains (losses) arising during the year
77

 
(29
)
 
48

Reclassification adjustments recognized in net income
82

 
(31
)
 
51

Net gain (loss) on derivatives1
159

 
(60
)
 
99

Available-for-sale securities:
 
 
 
 
 
Unrealized gains (losses) arising during the year
248

 
(64
)
 
184

Reclassification adjustments recognized in net income
(6
)
 
—

 
(6
)
Net change in unrealized gain (loss) on available-for-sale securities2
242

 
(64
)
 
178

Pension and other benefit liabilities:
 
 
 
 
 
Net pension and other benefits arising during the year
(1,132
)
 
405

 
(727
)
Reclassification adjustments recognized in net income
92

 
(33
)
 
59

Net change in pension and other benefit liabilities3
(1,040
)
 
372

 
(668
)
Other comprehensive income (loss) attributable to The Coca-Cola Company
$
(858
)
 
$
247

 
$
(611
)
1 
Refer to Note 5 for additional information related to the net gain or loss on derivative instruments designated and qualifying as cash flow hedging instruments.
2 
Includes reclassification adjustments related to divestitures of certain available-for-sale securities. Refer to Note 3 for additional information related to these divestitures.
3 
Refer to Note 13 for additional information related to the Company's pension and other postretirement benefit liabilities.
 
Before-Tax Amount

 
Income Tax

 
After-Tax Amount

2011
 
 
 
 
 
Net foreign currency translation adjustment
$
(639
)
 
$
(1
)
 
$
(640
)
Derivatives:
 
 
 
 
 
Unrealized gains (losses) arising during the year
(3
)
 
(1
)
 
(4
)
Reclassification adjustments recognized in net income
243

 
(94
)
 
149

Net gain (loss) on derivatives1
240

 
(95
)
 
145

Available-for-sale securities:
 
 
 
 
 
Unrealized gains (losses) arising during the year
(4
)
 
(8
)
 
(12
)
Reclassification adjustments recognized in net income
10

 
(5
)
 
5

Net change in unrealized gain (loss) on available-for-sale securities2
6

 
(13
)
 
(7
)
Pension and other benefit liabilities:
 
 
 
 
 
Net pension and other benefits arising during the year
(1,206
)
 
423

 
(783
)
Reclassification adjustments recognized in net income
31

 
(11
)
 
20

Net change in pension and other benefit liabilities3
(1,175
)
 
412

 
(763
)
Other comprehensive income (loss) attributable to The Coca-Cola Company
$
(1,568
)
 
$
303

 
$
(1,265
)
1 
Refer to Note 5 for additional information related to the net gain or loss on derivative instruments designated and qualifying as cash flow hedging instruments.
2 
Includes reclassification adjustments related to divestitures of certain available-for-sale securities. Refer to Note 3 for additional information related to these divestitures.
3 
Refer to Note 13 for additional information related to the Company's pension and other postretirement benefit liabilities.
The following table presents the amounts and line items in our condensed consolidated statements of income where adjustments reclassified from AOCI into income were recorded during the year ended December 31, 2013 (in millions):
Description of AOCI Component
Location of Gain (Loss)
Recognized in Income
Amount Reclassified from
AOCI into Income

 
Foreign currency translation adjustments:
 
 
 
Divestitures, deconsolidations and other
Other income (loss) — net
$
(194
)
1 
 
Income before income taxes
$
(194
)
 
 
Income taxes
—

 
 
Consolidated net income
$
(194
)
 
Derivatives:
 
 
 
Foreign currency contracts
Net operating revenues
$
(149
)
 
Foreign currency contracts
Cost of goods sold
(30
)
 
Interest rate contracts
Interest expense
12

 
 
Income before income taxes
$
(167
)
 
 
Income taxes
66

 
 
Consolidated net income
$
(101
)
 
Available-for-sale securities:
 
 
 
Sale of securities
Other income (loss) — net
$
12

 
 
Income before income taxes
$
12

 
 
Income taxes
—

 
 
Consolidated net income
$
12

 
Pension and other benefit liabilities:
 
 
 
Insignificant items
Other income (loss) — net
$
(1
)
 
Amortization of net actuarial loss
*
211

 
Amortization of prior service cost (credit)
*
(12
)
 
 
Income before income taxes
$
198

 
 
Income taxes
(72
)
 
 
Consolidated net income
$
126

 
*
This component of AOCI is included in the Company's computation of net periodic benefit cost and is not reclassified out of AOCI into a single line item in our condensed consolidated statements of income in its entirety. Refer to Note 13 for additional information.
1 
Related to the disposition of our Philippine bottling operations in January 2013, the deconsolidation of our Brazilian bottling operations in July 2013 and the merger of four of the Company's Japanese bottling partners in July 2013. Refer to Note 2 and Note 17 for additional information related to these transactions.

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