Pepsi 2013 Annual Report Download - page 125
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107
Note 13 — Accumulated Other Comprehensive Loss Attributable to PepsiCo
Comprehensive income is a measure of income which includes both net income and other comprehensive
income or loss. Other comprehensive income or loss results from items deferred from recognition into our
income statement. Accumulated other comprehensive income or loss is separately presented on our balance
sheet as part of common shareholders’ equity. Other comprehensive income/(loss) attributable to PepsiCo
was $360 million in 2013, $742 million in 2012 and $(2,599) million in 2011. The accumulated balances for
each component of other comprehensive loss attributable to PepsiCo are as follows:
2013 2012 2011
Currency translation adjustment $(3,247)$(1,946)$ (2,688)
Cash flow hedges, net of tax (76)(94)(112)
Unamortized pension and retiree medical, net of tax (a) (1,861)(3,491)(3,419)
Unrealized gain on securities, net of tax 109 80 62
Other (52)(36)(72)
Accumulated other comprehensive loss attributable to PepsiCo $(5,127)$(5,487)$ (6,229)
(a) Net of taxes of $945 million in 2013, $1,832 million in 2012 and $1,831 million in 2011.
The following table summarizes the reclassifications from Accumulated Other Comprehensive Loss to the
Consolidated Statement of Income for the year ended December 28, 2013:
2013
Amount
Reclassified from
Accumulated
Other
Comprehensive
Loss
Affected Line Item in the
Consolidated Statement
of Income
Losses/(gains) on cash flow hedges:
Interest rate derivatives $3
Interest expense
Commodity contracts 44 Cost of sales
Commodity contracts (2)
Selling, general and
administrative expenses
Net losses before tax 45
Tax amounts (17)
Net losses after tax $28
Amortization of pension and retiree medical items:
Net prior service credit (a) $(2)
Net actuarial losses (a) 355
Net losses before tax 353
Tax amounts (123)
Net losses after tax 230
Total net losses reclassified for the period, net of tax $ 258
(a) These items are included in the components of net periodic benefit cost for pension and retiree medical plans (see Note 7 for additional
details).