Pepsi 2014 Annual Report Download - page 130
Download and view the complete annual report
Please find page 130 of the 2014 Pepsi annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120 -
121 -
122 -
123 -
124 -
125 -
126 -
127 -
128 -
129 -
130 -
131 -
132 -
133 -
134 -
135 -
136 -
137 -
138 -
139 -
140 -
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
 |
 |
110
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 (loss)/income attributable to PepsiCo
was $(5,542) million in 2014, $360 million in 2013 and $742 million in 2012. The accumulated balances for
each component of other comprehensive loss attributable to PepsiCo are as follows:
2014 2013 2012
Currency translation adjustment (a) $(8,255)$(3,247) $ (1,946)
Cash flow hedges, net of tax 34 (76)(94)
Unamortized pension and retiree medical, net of tax (b) (2,500)(1,861)(3,491)
Unrealized gain on securities, net of tax 87 93 64
Other (35)(36)(20)
Accumulated other comprehensive loss attributable to PepsiCo $(10,669)$(5,127) $ (5,487)
(a) The change from 2013 to 2014 primarily reflects depreciation of the Russian ruble.
(b) Net of taxes of $1,260 million in 2014, $945 million in 2013 and $1,832 million in 2012.
The following table summarizes the reclassifications from Accumulated Other Comprehensive Loss to the
Consolidated Statement of Income for the years ended December 27, 2014 and December 28, 2013:
2014 2013
Amount Reclassified from
Accumulated Other
Comprehensive Loss
Affected Line Item in
the Consolidated
Statement of Income
(Gains)/Losses on cash flow hedges:
Foreign exchange contracts $ (16) $ — Cost of sales
Interest rate derivatives 233 3 Interest expense
Commodity contracts 31 44 Cost of sales
Commodity contracts 1(2)
Selling, general and
administrative expenses
Net losses before tax 249 45
Tax amounts (95) (17)
Net losses after tax $ 154 $ 28
Pension and retiree medical items:
Amortization of net prior service credit (a) $ (6) $ (2)
Amortization of net actuarial losses (a) 226 357
Settlement/curtailment (a) 149 (2)
Net losses before tax 369 353
Tax amounts (122) (123)
Net losses after tax 247 230
Total net losses reclassified for the period, net of tax $ 401 $ 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).
Table of Contents