FORM 10-Q
FORM 10-Q
FORM 10-Q
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Risk Management Programs<br />
The Company has numerous global insurance programs in place to help protect the Company from the risk of loss. In general, we are self-insured for large<br />
portions of many different types of claims; however, we do use commercial insurance above our self-insured retentions to reduce the Company's risk of<br />
catastrophic loss. Our reserves for the Company's self-insured losses are estimated using actuarial methods and assumptions of the insurance industry,<br />
adjusted for our specific expectations based on our claim history. Our self-insurance reserves totaled $ 514 million and $508 million as of March 29, 2013,<br />
and December 31, 2012, respectively.<br />
NOTE 8: COMPREHENSIVE INCOME<br />
The following table summarizes the allocation of total comprehensive income between shareowners of The Coca-Cola Company and noncontrolling interests (in<br />
millions):<br />
Shareowners of<br />
The Coca-Cola Company<br />
Three Months Ended March 29, 2013<br />
Noncontrolling<br />
Interests Total<br />
Consolidated net income<br />
Other comprehensive income:<br />
$ 1,751 $ 18 $ 1,769<br />
Net foreign currency translation adjustment 47 23 70<br />
Net gain (loss) on derivatives 1<br />
87 — 87<br />
Net unrealized gain (loss) on available-for-sale securities 2<br />
8 — 8<br />
Net change in pension and other benefit liabilities 32 — 32<br />
Total comprehensive income $ 1,925 $ 41 $ 1,966<br />
1 Refer to Note 5 for information related to the net gain or loss on derivative instruments classified as cash flow hedges.<br />
2 Refer to Note 3 for information related to the net unrealized gain or loss on available-for-sale securities.<br />
OCI attributable to shareowners of The Coca-Cola Company, including our proportionate share of equity method investees' OCI, for the three months ended<br />
March 29, 2013, is as follows (in millions):<br />
Before-Tax Amount Income Tax After-Tax Amount<br />
Foreign currency translation adjustments:<br />
Translation adjustment arising during the period $ 325 $ (60) $ 265<br />
Reclassification adjustments recognized in net income (218) — (218)<br />
Net foreign currency translation adjustments <strong>10</strong>7 (60) 47<br />
Derivatives:<br />
Unrealized gains (losses) arising during the period 162 (64) 98<br />
Reclassification adjustments recognized in net income (18) 7 (11)<br />
Net gain (loss) on derivatives 1<br />
144 (57) 87<br />
Available-for-sale securities:<br />
Unrealized gains (losses) arising during the period 5 3 8<br />
Reclassification adjustments recognized in net income — — —<br />
Net change in unrealized gain (loss) on available-for-sale securities 2<br />
5 3 8<br />
Pension and other benefit liabilities:<br />
Net pension and other benefits arising during the period 7 (5) 2<br />
Reclassification adjustments recognized in net income 3<br />
48 (18) 30<br />
Net change in pension and other benefit liabilities 4<br />
55 (23) 32<br />
Other comprehensive income (loss) attributable to The Coca-Cola Company $ 311 $ (137) $ 174<br />
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.<br />
2 Includes reclassification adjustments related to divestitures of certain available-for-sale securities. Refer to Note 3 for additional information related to these divestitures.<br />
3 These adjustments were not reclassified out of AOCI into a single line item in our condensed consolidated statement of income in their entirety. Refer to the table below which<br />
provides further details on our reclassification adjustments.<br />
4 Refer to Note 12 for additional information related to the Company's pension and other postretirement benefit liabilities.<br />
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