beatandraise : SEC Filings Research with AI

Gain (Loss) Recognized in OCI

Three Months Ended

March 29,
2013

March 30,
2012

Foreign currency contracts

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Document and Entity Information	3 Months Ended
Mar. 29, 2013	Apr. 22, 2013
Entity Registrant Name	COCA COLA CO
Entity Central Index Key	0000021344
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar 29, 2013
Document Fiscal Year Focus	2013
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		4,453,755,295

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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended
Mar. 29, 2013	Mar. 30, 2012
NET OPERATING REVENUES	$ 11,035		$ 11,137
Cost of goods sold	4,324		4,348
GROSS PROFIT	6,711		6,789
Selling, general and administrative expenses	4,182		4,181
Other operating charges	121		99
OPERATING INCOME	2,408		2,509
Interest income	116		115
Interest expense	102		88
Equity income (loss) - net	87		140
Other income (loss) - net	(165)		49
INCOME BEFORE INCOME TAXES	2,344		2,725
Income taxes	575		658
CONSOLIDATED NET INCOME	1,769		2,067
Less: Net income attributable to noncontrolling interests	18		13
NET INCOME ATTRIBUTABLE TO SHAREOWNERS OF THE COCA-COLA COMPANY	$ 1,751		$ 2,054
BASIC NET INCOME PER SHARE (in dollars per share)	$ 0.39	^[1]	$ 0.45	^[1]
DILUTED NET INCOME PER SHARE (in dollars per share)	$ 0.39	^[1]	$ 0.45	^[1]
DIVIDENDS PER SHARE (in dollars per share)	$ 0.28		$ 0.255
AVERAGE SHARES OUTSTANDING (in shares)	4,455		4,525
Effect of dilutive securities (in shares)	75		76
AVERAGE SHARES OUTSTANDING ASSUMING DILUTION (in shares)	4,530		4,601

[1]	Calculated based on net income attributable to shareowners of The Coca-Cola Company.

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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) In Millions, unless otherwise specified	3 Months Ended
Mar. 29, 2013	Mar. 30, 2012
CONSOLIDATED NET INCOME	$ 1,769	$ 2,067
Other comprehensive income:
Net foreign currency translation adjustment	70	930
Net gain (loss) on derivatives	87	31
Net unrealized gain (loss) on available-for-sale securities	8	100
Net change in pension and other benefit liabilities	32	(11)
TOTAL COMPREHENSIVE INCOME	1,966	3,117
Less: Comprehensive income (loss) attributable to noncontrolling interests	41	64
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO SHAREOWNERS OF THE COCA-COLA COMPANY	1,925	3,053
Shareowners of The Coca-Cola Company
CONSOLIDATED NET INCOME	1,751
Other comprehensive income:
Net foreign currency translation adjustment	47
Net gain (loss) on derivatives	87
Net unrealized gain (loss) on available-for-sale securities	8
Net change in pension and other benefit liabilities	32
TOTAL COMPREHENSIVE INCOME	$ 1,925

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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) In Millions, unless otherwise specified	Mar. 29, 2013	Dec. 31, 2012
CURRENT ASSETS
Cash and cash equivalents	$ 9,162	$ 8,442
Short-term investments	6,176	5,017
TOTAL CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS	15,338	13,459
Marketable securities	3,090	3,092
Trade accounts receivable, less allowances of $58 and $53, respectively	5,007	4,759
Inventories	3,607	3,264
Prepaid expenses and other assets	3,294	2,781
Assets held for sale	1,183	2,973
TOTAL CURRENT ASSETS	31,519	30,328
EQUITY METHOD INVESTMENTS	9,850	9,216
OTHER INVESTMENTS, PRINCIPALLY BOTTLING COMPANIES	1,227	1,232
OTHER ASSETS	3,922	3,585
PROPERTY, PLANT AND EQUIPMENT, less accumulated depreciation of $9,395 and $9,010, respectively	14,543	14,476
TRADEMARKS WITH INDEFINITE LIVES	6,570	6,527
BOTTLERS' FRANCHISE RIGHTS WITH INDEFINITE LIVES	7,414	7,405
GOODWILL	12,291	12,255
OTHER INTANGIBLE ASSETS	1,114	1,150
TOTAL ASSETS	88,450	86,174
CURRENT LIABILITIES
Accounts payable and accrued expenses	9,447	8,680
Loans and notes payable	16,322	16,297
Current maturities of long-term debt	4,505	1,577
Accrued income taxes	382	471
Liabilities held for sale	446	796
TOTAL CURRENT LIABILITIES	31,102	27,821
LONG-TERM DEBT	14,291	14,736
OTHER LIABILITIES	4,949	5,468
DEFERRED INCOME TAXES	5,214	4,981
THE COCA-COLA COMPANY SHAREOWNERS' EQUITY
Common stock, $0.25 par value; Authorized - 11,200 shares; Issued - 7,040 and 7,040 shares, respectively	1,760	1,760
Capital surplus	11,664	11,379
Reinvested earnings	58,549	58,045
Accumulated other comprehensive income (loss)	(3,211)	(3,385)
Treasury stock, at cost - 2,592 and 2,571 shares, respectively	(36,282)	(35,009)
EQUITY ATTRIBUTABLE TO SHAREOWNERS OF THE COCA-COLA COMPANY	32,480	32,790
EQUITY ATTRIBUTABLE TO NONCONTROLLING INTERESTS	414	378
TOTAL EQUITY	32,894	33,168
TOTAL LIABILITIES AND EQUITY	$ 88,450	$ 86,174

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CONDENSED CONSOLIDATED BALANCE SHEETS Parentheticals (USD $) In Millions, except Per Share data, unless otherwise specified	Mar. 29, 2013	Dec. 31, 2012
Allowance for Doubtful Accounts	$ 58	$ 53
Accumulated Depreciation	$ 9,395	$ 9,010
Common Stock - Par Value	$ 0.25	$ 0.25
Common Stock - Shares Authorized	11,200	11,200
Common Stock - Issued	7,040	7,040
Treasury Stock - Cost	2,592	2,571

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Millions, unless otherwise specified	3 Months Ended
Mar. 29, 2013	Mar. 30, 2012
OPERATING ACTIVITIES
Consolidated net income	$ 1,769	$ 2,067
Depreciation and amortization	473	447
Stock-based compensation expense	47	77
Deferred income taxes	157	(103)
Equity (income) loss - net of dividends	(77)	(133)
Foreign currency adjustments	184	(66)
Significant (gains) losses on sales of assets - net	(1)	(14)
Other operating charges	74	63
Other items	36	1
Net change in operating assets and liabilities	(2,184)	(1,846)
Net cash provided by operating activities	478	493
INVESTING ACTIVITIES
Purchases of investments	(3,506)	(4,664)
Proceeds from disposals of investments	2,225	556
Acquisitions of businesses, equity method investments and nonmarketable securities	(28)	(120)
Proceeds from disposals of businesses, equity method investments and nonmarketable securities	690	11
Purchases of property, plant and equipment	(498)	(592)
Proceeds from disposals of property, plant and equipment	35	27
Other investing activities	(136)	(101)
Net cash provided by (used in) investing activities	(1,218)	(4,883)
FINANCING ACTIVITIES
Issuances of debt	12,585	11,358
Payments of debt	(10,065)	(8,835)
Issuances of stock	417	436
Purchases of stock for treasury	(1,523)	(1,079)
Dividends	0	0
Other financing activities	21	42
Net cash provided by (used in) financing activities	1,435	1,922
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	25	329
CASH AND CASH EQUIVALENTS
Net increase (decrease) during the period	720	(2,139)
Balance at beginning of period	8,442	12,803
Balance at end of period	$ 9,162	$ 10,664

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Summary of Significant Accounting Policies	3 Months Ended
Mar. 29, 2013
Summary of significant accounting policies
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. They do not include all information and notes required by generally accepted accounting principles for complete financial statements. However, except as disclosed herein, there has been no material change in the information disclosed in the Notes to Consolidated Financial Statements included in the Annual Report on Form 10-K of The Coca-Cola Company for the year ended December 31, 2012. When used in these notes, the terms "The Coca-Cola Company," "Company," "we," "us" or "our" mean The Coca-Cola Company and all entities included in our condensed consolidated financial statements. In the opinion of management, all adjustments (including normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three months ended March 29, 2013, are not necessarily indicative of the results that may be expected for the year ending December 31, 2013. Sales of our nonalcoholic ready-to-drink beverages are somewhat seasonal, with the second and third calendar quarters accounting for the highest sales volumes. The volume of sales in the beverage business may be affected by weather conditions. Each of our interim reporting periods, other than the fourth interim reporting period, ends on the Friday closest to the last day of the corresponding quarterly calendar period. The first quarter of 2013 and 2012 ended on March 29, 2013, and March 30, 2012, respectively. Our fourth interim reporting period and our fiscal year end on December 31 regardless of the day of the week on which December 31 falls. Effective January 1, 2013, the Company transferred our India and South West Asia business unit from the Eurasia and Africa operating segment to the Pacific operating segment. Accordingly, these and certain other amounts in the prior year's condensed consolidated financial statements and notes have been revised to conform to the current year presentation. Advertising Costs The Company's accounting policy related to advertising costs for annual reporting purposes, as disclosed in Note 1 of our 2012 Annual Report on Form 10-K, is to expense production costs of print, radio, television and other advertisements as of the first date the advertisements take place. All other marketing expenditures are expensed in the annual period in which the expenditure is incurred. For interim reporting purposes, we allocate our estimated full year marketing expenditures that benefit multiple interim periods to each of our interim reporting periods. We use the proportion of each interim period's actual unit case volume to the estimated full year unit case volume as the basis for the allocation. This methodology results in our marketing expenditures being recognized at a standard rate per unit case. At the end of each interim reporting period, we review our estimated full year unit case volume and our estimated full year marketing expenditures in order to evaluate if a change in estimate is necessary. The impact of any changes in these full year estimates is recognized in the interim period in which the change in estimate occurs. Our full year marketing expenditures are not impacted by this interim accounting policy.

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Acquisitions and Divestitures

3 Months Ended

Mar. 29, 2013

Acquisitions and divestitures

Acquisitions and Divestitures

ACQUISITIONS AND DIVESTITURES

Acquisitions

During the three months ended March 29, 2013, our Company's acquisitions of businesses, equity method investments and nonmarketable securities totaled $28 million, none of which were individually significant.

During the three months ended March 30, 2012, our Company's acquisitions of businesses, equity method investments and nonmarketable securities totaled $120 million, which included our acquisition of bottling operations in Vietnam and Cambodia. None of the Company's acquisitions were individually significant.

Divestitures

During the three months ended March 29, 2013, proceeds from disposals of businesses, equity method investments and nonmarketable securities totaled $690 million, which primarily included the sale of a majority ownership interest in our previously consolidated bottling operations in the Philippines ("Philippine bottling operations") to Coca-Cola FEMSA, S.A.B. de C.V. ("Coca-Cola FEMSA"), an equity method investee. The Company now accounts for our ownership interest in the Philippine bottling operations as an equity method investment, which we remeasured to fair value taking into consideration the sale price of the majority ownership interest. Coca-Cola FEMSA has an option to purchase our remaining ownership interest in the Philippine bottling operations at any time during the seven years following closing at the initial purchase price plus a defined return. Coca-Cola FEMSA also has an option exercisable during the sixth year after closing to sell its ownership interest back to the Company at a price not to exceed the initial purchase price.

During the three months ended March 30, 2012, proceeds from disposals of businesses, equity method investments and nonmarketable securities totaled $11 million, none of which were individually significant.

Assets and Liabilities Held for Sale

On December 13, 2012, the Company and Coca-Cola FEMSA executed a share purchase agreement for the sale of a majority ownership interest in our consolidated Philippine bottling operations. This transaction was completed on January 25, 2013. As of December 31, 2012, our Philippine bottling operations met the criteria to be classified as held for sale, and we were required to record their assets and liabilities at the lower of carrying value or fair value less any costs to sell based on the agreed-upon purchase price. The Company recorded a total loss of $107 million, primarily during the fourth quarter of 2012, on the sale of our Philippine bottling operations. Refer to the table below for a detail of our Philippine bottling assets and liabilities that were classified as held for sale as of December 31, 2012.

On December 17, 2012, the Company entered into an agreement with several parties which will result in the merger of our consolidated bottling operations in Brazil ("Brazilian bottling operations") with an independent bottler in Brazil. Upon completion of the transaction, we will deconsolidate our Brazilian bottling operations in exchange for cash and a minority ownership interest in the newly combined entity. As a result, our Brazilian bottling operations met the criteria to be classified as held for sale. We were not required to record their assets and liabilities at fair value less any costs to sell because their fair value exceeded our carrying value as of March 29, 2013, and December 31, 2012.

The following table presents information related to the major classes of assets and liabilities that were classified as held for sale in our condensed consolidated balance sheets as of March 29, 2013, and December 31, 2012 (in millions):



	March 29, 2013		December 31, 2012
	Brazilian Bottling Operations		Brazilian Bottling Operations			Philippine Bottling Operations			Total Bottling Operations Held for Sale as of December 31, 2012
Cash, cash equivalents and short-term investments	$	85		$	45			$	133		$	178
Trade accounts receivable, less allowances	62		88			108			196
Inventories	92		85			187			272
Prepaid expenses and other assets	134		174			223			397
Other assets	182		128			7			135
Property, plant and equipment — net	464		419			841			1,260
Bottlers' franchise rights with indefinite lives	141		130			341			471
Goodwill	23		22			148			170
Other intangible assets	—		1			—			1
Allowance for reduction of assets held for sale	—		—			(107	)		(107	)
Total assets	$	1,183		$	1,092			$	1,881		$	2,973
Accounts payable and accrued expenses	$	140		$	157			$	241		$	398
Loans and notes payable	15		6			—			6
Current maturities of long-term debt	32		28			—			28
Accrued income taxes	1		4			(4	)		—
Long-term debt	152		147			—			147
Other liabilities	85		75			20			95
Deferred income taxes	21		20			102			122
Total liabilities	$	446		$	437			$	359		$	796

We determined that our Philippine and Brazilian bottling operations did not meet the criteria to be classified as discontinued operations, primarily due to the continued significant involvement we anticipate having in these operations following each transaction.

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Investments

3 Months Ended

Mar. 29, 2013

Investments [Abstracts]

Investments

INVESTMENTS

Investments in debt and marketable equity securities, other than investments accounted for under the equity method, are classified as trading, available-for-sale or held-to-maturity. Our marketable equity investments are classified as either trading or available-for-sale with their cost basis determined by the specific identification method. Realized and unrealized gains and losses on trading securities and realized gains and losses on available-for-sale securities are included in net income. Unrealized gains and losses, net of deferred taxes, on available-for-sale securities are included in our condensed consolidated balance sheets as a component of accumulated other comprehensive income ("AOCI"), except for the change in fair value attributable to the currency risk being hedged. Refer to Note 5 for additional information related to the Company's fair value hedges of available-for-sale securities.

Our investments in debt securities are carried at either amortized cost or fair value. Investments in debt securities that the Company has the positive intent and ability to hold to maturity are carried at amortized cost and classified as held-to-maturity. Investments in debt securities that are not classified as held-to-maturity are carried at fair value and classified as either trading or available-for-sale.

Trading Securities

As of March 29, 2013, and December 31, 2012, our trading securities had a fair value of $280 million and $266 million, respectively, and consisted primarily of equity securities. The Company had net unrealized gains on trading securities of $34 million and $19 million as of March 29, 2013, and December 31, 2012, respectively. The Company's trading securities were included in the following line items in our condensed consolidated balance sheets (in millions):



	March 29, 2013		December 31, 2012
Marketable securities	$	195		$	184
Other assets	85		82
Total trading securities	$	280		$	266

Available-for-Sale and Held-to-Maturity Securities

As of March 29, 2013, available-for-sale securities consisted of the following (in millions):



		Gross Unrealized
	Cost		Gains		Losses		Fair Value
Available-for-sale securities:¹
Equity securities	$	962		$	459		$	(12	)	$	1,409
Debt securities	3,246		47		(4	)	3,289
Total available-for-sale securities	$	4,208		$	506		$	(16	)	$	4,698

¹Refer to Note 14 for additional information related to the estimated fair value.

As of December 31, 2012, available-for-sale securities consisted of the following (in millions):



		Gross Unrealized
	Cost		Gains		Losses		Fair Value
Available-for-sale securities:¹
Equity securities	$	957		$	441		$	(10	)	$	1,388
Debt securities	3,169		46		(10	)	3,205
Total available-for-sale securities	$	4,126		$	487		$	(20	)	$	4,593

¹Refer to Note 14 for additional information related to the estimated fair value.

The sale and/or maturity of available-for-sale securities resulted in the following activity during the three months ended March 29, 2013, and March 30, 2012 (in millions):



	Three Months Ended
	March 29, 2013		March 30, 2012
Gross gains	$	5		$	1
Gross losses	(5	)	(2	)
Proceeds	1,137		1,231

The Company uses one of its insurance captives to reinsure group annuity insurance contracts that cover the pension obligations of certain of our European pension plans. In accordance with local insurance regulations, our insurance captive is required to meet and maintain minimum solvency capital requirements. The Company elected to invest its solvency capital in a portfolio of available-for-sale securities, which have been classified in the line item other assets in our condensed consolidated balance sheets because the assets are not available to satisfy our current obligations. As of March 29, 2013, and December 31, 2012, the Company's available-for-sale securities included solvency capital funds of $490 million and $451 million, respectively.

The Company's available-for-sale securities were included in the following line items in our condensed consolidated balance sheets (in millions):



	March 29, 2013		December 31, 2012
Cash and cash equivalents	$	100		$	9
Marketable securities	2,895		2,908
Other investments, principally bottling companies	1,080		1,087
Other assets	623		589
Total available-for-sale securities	$	4,698		$	4,593

The contractual maturities of these available-for-sale securities as of March 29, 2013, were as follows (in millions):



	Cost		Fair Value
Within 1 year	$	1,166		$	1,171
After 1 year through 5 years	1,502		1,509
After 5 years through 10 years	263		291
After 10 years	315		318
Equity securities	962		1,409
Total available-for-sale securities	$	4,208		$	4,698

The Company expects that actual maturities may differ from the contractual maturities above because borrowers have the right to call or prepay certain obligations.

As of March 29, 2013, and December 31, 2012, the Company did not have any held-to-maturity securities.

Cost Method Investments

Cost method investments are initially recorded at cost, and we record dividend income when applicable dividends are declared. Cost method investments are reported as other investments in our condensed consolidated balance sheets, and dividend income from cost method investments is reported in other income (loss) — net in our condensed consolidated statements of income. We review all of our cost method investments quarterly to determine if impairment indicators are present; however, we are not required to determine the fair value of these investments unless impairment indicators exist. When impairment indicators exist, we generally use discounted cash flow analyses to determine the fair value. We estimate that the fair values of our cost method investments approximated or exceeded their carrying values as of March 29, 2013, and December 31, 2012. Our cost method investments had a carrying value of $147 million and $145 million as of March 29, 2013, and December 31, 2012, respectively.

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Inventories

3 Months Ended

Mar. 29, 2013

Inventories

Inventories

INVENTORIES

Inventories consist primarily of raw materials and packaging (which include ingredients and supplies) and finished goods (which include concentrates and syrups in our concentrate operations and finished beverages in our finished product operations). Inventories are valued at the lower of cost or market. We determine cost on the basis of the average cost or first-in, first-out methods. Inventories consisted of the following (in millions):



	March 29, 2013		December 31, 2012
Raw materials and packaging	$	1,899		$	1,773
Finished goods	1,375		1,171
Other	333		320
Total inventories	$	3,607		$	3,264

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Hedging Transactions and Derivative Financial Instruments

3 Months Ended

Mar. 29, 2013

Hedging Transactions and Derivative Financial Instruments

Hedging Transactions and Derivative Financial Instruments

HEDGING TRANSACTIONS AND DERIVATIVE FINANCIAL INSTRUMENTS

The Company is directly and indirectly affected by changes in certain market conditions. These changes in market conditions may adversely impact the Company's financial performance and are referred to as "market risks." When deemed appropriate, our Company uses derivatives as a risk management tool to mitigate the potential impact of certain market risks. The primary market risks managed by the Company through the use of derivative instruments are foreign currency exchange rate risk, commodity price risk and interest rate risk.

The Company uses various types of derivative instruments including, but not limited to, forward contracts, commodity futures contracts, option contracts, collars and swaps. Forward contracts and commodity futures contracts are agreements to buy or sell a quantity of a currency or commodity at a predetermined future date, and at a predetermined rate or price. An option contract is an agreement that conveys the purchaser the right, but not the obligation, to buy or sell a quantity of a currency or commodity at a predetermined rate or price during a period or at a time in the future. A collar is a strategy that uses a combination of options to limit the range of possible positive or negative returns on an underlying asset or liability to a specific range, or to protect expected future cash flows. To do this, an investor simultaneously buys a put option and sells (writes) a call option, or alternatively buys a call option and sells (writes) a put option. A swap agreement is a contract between two parties to exchange cash flows based on specified underlying notional amounts, assets and/or indices. We do not enter into derivative financial instruments for trading purposes.

All derivatives are carried at fair value in our condensed consolidated balance sheets in the following line items, as applicable: prepaid expenses and other assets; other assets; accounts payable and accrued expenses; and other liabilities. The carrying values of the derivatives reflect the impact of legally enforceable master netting agreements and cash collateral held or placed with the same counterparties, as applicable. These master netting agreements allow the Company to net settle positive and negative positions (assets and liabilities) arising from different transactions with the same counterparty.

The accounting for gains and losses that result from changes in the fair values of derivative instruments depends on whether the derivatives have been designated and qualify as hedging instruments and the type of hedging relationships. Derivatives can be designated as fair value hedges, cash flow hedges or hedges of net investments in foreign operations. The changes in the fair values of derivatives that have been designated and qualify for fair value hedge accounting are recorded in the same line item in our condensed consolidated statements of income as the changes in the fair values of the hedged items attributable to the risk being hedged. The changes in the fair values of derivatives that have been designated and qualify as cash flow hedges or hedges of net investments in foreign operations are recorded in AOCI and are reclassified into the line item in our condensed consolidated statement of income in which the hedged items are recorded in the same period the hedged items affect earnings. Due to the high degree of effectiveness between the hedging instruments and the underlying exposures being hedged, fluctuations in the value of the derivative instruments are generally offset by changes in the fair values or cash flows of the underlying exposures being hedged. The changes in fair values of derivatives that were not designated and/or did not qualify as hedging instruments are immediately recognized into earnings.

For derivatives that will be accounted for as hedging instruments, the Company formally designates and documents, at inception, the financial instrument as a hedge of a specific underlying exposure, the risk management objective and the strategy for undertaking the hedge transaction. In addition, the Company formally assesses, both at inception and at least quarterly thereafter, whether the financial instruments used in hedging transactions are effective at offsetting changes in either the fair values or cash flows of the related underlying exposures. Any ineffective portion of a financial instrument's change in fair value is immediately recognized into earnings.

The Company determines the fair values of its derivatives based on quoted market prices or pricing models using current market rates. Refer to Note 14. The notional amounts of the derivative financial instruments do not necessarily represent amounts exchanged by the parties and, therefore, are not a direct measure of our exposure to the financial risks described above. The amounts exchanged are calculated by reference to the notional amounts and by other terms of the derivatives, such as interest rates, foreign currency exchange rates or other financial indices. The Company does not view the fair values of its derivatives in isolation, but rather in relation to the fair values or cash flows of the underlying hedged transactions or other exposures. Virtually all of our derivatives are straightforward over-the-counter instruments with liquid markets.

The following table presents the fair values of the Company's derivative instruments that were designated and qualified as part of a hedging relationship (in millions):



		Fair Value^1,2
Derivatives Designated as Hedging Instruments	Balance Sheet Location¹	March 29, 2013		December 31, 2012
Assets
Foreign currency contracts	Prepaid expenses and other assets	$	248		$	149
Foreign currency contracts	Other assets	56		—
Commodity contracts	Prepaid expenses and other assets	1		—
Interest rate contracts	Prepaid expenses and other assets	10		7
Interest rate contracts	Other assets	313		335
Total assets		$	628		$	491
Liabilities
Foreign currency contracts	Accounts payable and accrued expenses	$	33		$	55
Foreign currency contracts	Other liabilities	14		—
Commodity contracts	Accounts payable and accrued expenses	—		1
Interest rate contracts	Other liabilities	7		6
Total liabilities		$	54		$	62

¹All of the Company's derivative instruments are carried at fair value in our condensed consolidated balance sheets after considering the impact of legally enforceable master netting agreements and cash collateral held or placed with the same counterparties, as applicable. Current disclosure requirements mandate that derivatives must also be disclosed without reflecting the impact of master netting agreements and cash collateral. Refer to Note 14 for the net presentation of the Company's derivative instruments.

²Refer to Note 14 for additional information related to the estimated fair value.

The following table presents the fair values of the Company's derivative instruments that were not designated as hedging instruments (in millions):



		Fair Value^1,2
Derivatives Not Designated as Hedging Instruments	Balance Sheet Location¹	March 29, 2013		December 31, 2012
Assets
Foreign currency contracts	Prepaid expenses and other assets	$	36		$	19
Foreign currency contracts	Other assets	117		42
Commodity contracts	Prepaid expenses and other assets	71		72
Other derivative instruments	Prepaid expenses and other assets	10		6
Total assets		$	234		$	139
Liabilities
Foreign currency contracts	Accounts payable and accrued expenses	$	20		$	24
Foreign currency contracts	Other liabilities	20		1
Commodity contracts	Accounts payable and accrued expenses	50		43
Commodity contracts	Other liabilities	2		1
Other derivative instruments	Accounts payable and accrued expenses	—		2
Total liabilities		$	92		$	71

²Refer to Note 14 for additional information related to the estimated fair value.

Credit Risk Associated with Derivatives

We have established strict counterparty credit guidelines and enter into transactions only with financial institutions of investment grade or better. We monitor counterparty exposures regularly and review any downgrade in credit rating immediately. If a downgrade in the credit rating of a counterparty were to occur, we have provisions requiring collateral in the form of U.S. government securities for substantially all of our transactions. To mitigate presettlement risk, minimum credit standards become more stringent as the duration of the derivative financial instrument increases. In addition, the Company's master netting agreements reduce credit risk by permitting the Company to net settle for transactions with the same counterparty. To minimize the concentration of credit risk, we enter into derivative transactions with a portfolio of financial institutions. Based on these factors, we consider the risk of counterparty default to be minimal.

Cash Flow Hedging Strategy

The Company uses cash flow hedges to minimize the variability in cash flows of assets or liabilities or forecasted transactions caused by fluctuations in foreign currency exchange rates, commodity prices or interest rates. The changes in the fair values of derivatives designated as cash flow hedges are recorded in AOCI and are reclassified into the line item in our condensed consolidated statements of income in which the hedged items are recorded in the same period the hedged items affect earnings. The changes in fair values of hedges that are determined to be ineffective are immediately reclassified from AOCI into earnings. The Company did not discontinue any cash flow hedging relationships during the three months ended March 29, 2013, or March 30, 2012. The maximum length of time for which the Company hedges its exposure to future cash flows is typically three years.

The Company maintains a foreign currency cash flow hedging program to reduce the risk that our eventual U.S. dollar net cash inflows from sales outside the United States and U.S. dollar net cash outflows from procurement activities will be adversely affected by fluctuations in foreign currency exchange rates. We enter into forward contracts and purchase foreign currency options (principally euros and Japanese yen) and collars to hedge certain portions of forecasted cash flows denominated in foreign currencies. When the U.S. dollar strengthens against the foreign currencies, the decline in the present value of future foreign currency cash flows is partially offset by gains in the fair value of the derivative instruments. Conversely, when the U.S. dollar weakens, the increase in the present value of future foreign currency cash flows is partially offset by losses in the fair value of the derivative instruments. The total notional values of derivatives that were designated and qualified for the Company's foreign currency cash flow hedging program were $5,327 million and $4,715 million as of March 29, 2013, and December 31, 2012, respectively.

The Company has entered into commodity futures contracts and other derivative instruments on various commodities to mitigate the price risk associated with forecasted purchases of materials used in our manufacturing process. These derivative instruments have been designated and qualify as part of the Company's commodity cash flow hedging program. The objective of this hedging program is to reduce the variability of cash flows associated with future purchases of certain commodities. The total notional values of derivatives that were designated and qualified for the Company's commodity cash flow hedging program were $12 million and $17 million as of March 29, 2013, and December 31, 2012, respectively.

Our Company monitors our mix of short-term debt and long-term debt regularly. From time to time, we manage our risk to interest rate fluctuations through the use of derivative financial instruments. The Company has entered into interest rate swap agreements and has designated these instruments as part of the Company's interest rate cash flow hedging program. The objective of this hedging program is to mitigate the risk of adverse changes in benchmark interest rates on the Company's future interest payments. The total notional values of these interest rate swap agreements that were designated and qualified for the Company's interest rate cash flow hedging program were $2,215 million and $1,764 million as of March 29, 2013, and December 31, 2012, respectively.

The following table presents the pretax impact that changes in the fair values of derivatives designated as cash flow hedges had on AOCI and earnings during the three months ended March 29, 2013 (in millions):



	Gain (Loss) Recognized in Other Comprehensive Income ("OCI")		Location of Gain (Loss) Recognized in Income¹	Gain (Loss) Reclassified from AOCI into Income (Effective Portion)		Gain (Loss) Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing)
Foreign currency contracts	$	131		Net operating revenues	$	19	$	—	²
Foreign currency contracts	21		Cost of goods sold	2		—
Interest rate contracts	13		Interest expense	(3	)	—	²
Commodity contracts	2		Cost of goods sold	—		—
Total	$	167			$	18	$	—

¹The Company records gains and losses reclassified from AOCI into income for the effective portion and the ineffective portion, if any, to the same line items in our condensed consolidated statements of income.

²Includes a de minimis amount of ineffectiveness in the hedging relationship.



	Gain (Loss) Recognized in OCI		Location of Gain (Loss) Recognized in Income¹	Gain (Loss) Reclassified from AOCI into Income (Effective Portion)		Gain (Loss) Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing)
Foreign currency contracts	$	(1	)	Net operating revenues	$	(21	)	$	1
Foreign currency contracts	26		Cost of goods sold	(6	)	—
Interest rate contracts	—		Interest expense	(3	)	—
Commodity contracts	(1	)	Cost of goods sold	1		—
Total	$	24			$	(29	)	$	1

As of March 29, 2013, the Company estimates that it will reclassify into earnings during the next 12 months approximately $148 million of gains from the pretax amount recorded in AOCI as the anticipated cash flows occur.

Fair Value Hedging Strategy

The Company uses interest rate swap agreements designated as fair value hedges to minimize exposure to changes in the fair value of fixed-rate debt that results from fluctuations in benchmark interest rates. The changes in fair values of derivatives designated as fair value hedges and the offsetting changes in fair values of the hedged items are recognized in earnings. The ineffective portions of these hedges are immediately recognized in earnings. As of March 29, 2013, such adjustments had cumulatively increased the carrying value of our long-term debt by $227 million. When a derivative is no longer designated as a fair value hedge for any reason, including termination and maturity, the remaining difference between the carrying value at that time and the par value of the hedged item is amortized to earnings over the remaining life of the hedged item, or immediately if the hedged item has matured. The total notional values of derivatives that related to our fair value hedges of this type were $6,700 million and $6,700 million as of March 29, 2013, and December 31, 2012, respectively.

The Company also uses fair value hedges to minimize exposure to changes in the fair value of certain available-for-sale securities from fluctuations in foreign currency exchange rates. The changes in fair values of derivatives designated as fair value hedges and the offsetting changes in fair values of the hedged items are recognized in earnings. The ineffective portions of these hedges are immediately recognized in earnings. The total notional values of derivatives that related to our fair value hedges of this type were $913 million and $850 million as of March 29, 2013, and December 31, 2012, respectively.

The following table summarizes the pretax impact that changes in the fair values of derivatives designated as fair value hedges had on earnings during the three months ended March 29, 2013, and March 30, 2012 (in millions):



Fair Value Hedging Instruments	Location of Gain (Loss) Recognized in Income	Gain (Loss) Recognized in Income
March 29, 2013		March 30, 2012
Interest rate contracts	Interest expense	$	(35	)	$	(21	)
Fixed-rate debt	Interest expense	45		39
Net impact to interest expense		$	10		$	18
Foreign currency contracts	Other income (loss) — net	$	10		$	40
Available-for-sale securities	Other income (loss) — net	(16	)	(39	)
Net impact to other income (loss) — net		$	(6	)	$	1
Net impact of fair value hedging instruments		$	4		$	19

Hedges of Net Investments in Foreign Operations Strategy

The Company uses forward contracts to protect the value of our investments in a number of foreign subsidiaries. For derivative instruments that are designated and qualify as hedges of net investments in foreign operations, the changes in fair values of the derivative instruments are recognized in net foreign currency translation gain (loss), a component of AOCI, to offset the changes in the values of the net investments being hedged. Any ineffective portions of net investment hedges are reclassified from AOCI into earnings during the period of change. The total notional values of derivatives that were designated and qualified for the Company's net investments hedging program were $1,211 million and $1,718 million as of March 29, 2013, and December 31, 2012, respectively.

The following table presents the pretax impact that changes in the fair values of derivatives designated as net investment hedges had on AOCI during the three months ended March 29, 2013, and March 30, 2012 (in millions):

The Company did not reclassify any deferred gains or losses related to net investment hedges from AOCI to earnings during the three months ended March 29, 2013, and March 30, 2012. In addition, the Company did not have any ineffectiveness related to net investment hedges during the three months ended March 29, 2013, and March 30, 2012.

Economic (Nondesignated) Hedging Strategy

In addition to derivative instruments that are designated and qualify for hedge accounting, the Company also uses certain derivatives as economic hedges of foreign currency and commodity exposure. Although these derivatives were not designated and/or did not qualify for hedge accounting, they are effective economic hedges. The changes in fair values of economic hedges are immediately recognized into earnings.

The Company uses foreign currency economic hedges to offset the earnings impact that fluctuations in foreign currency exchange rates have on certain monetary assets and liabilities denominated in nonfunctional currencies. The changes in fair values of economic hedges used to offset those monetary assets and liabilities are immediately recognized into earnings in the line item other income (loss) — net in our condensed consolidated statements of income. In addition, we use foreign currency economic hedges to minimize the variability in cash flows associated with fluctuations in foreign currency exchange rates. The changes in fair values of economic hedges used to offset the variability in U.S. dollar net cash flows are recognized into earnings in the line items net operating revenues and cost of goods sold in our condensed consolidated statements of income, as applicable. The total notional values of derivatives related to our foreign currency economic hedges were $3,888 million and $3,865 million as of March 29, 2013, and December 31, 2012, respectively.

The Company also uses certain derivatives as economic hedges to mitigate the price risk associated with the purchase of materials used in the manufacturing process and for vehicle fuel. The changes in fair values of these economic hedges are immediately recognized into earnings in the line items cost of goods sold and selling, general and administrative expenses in our condensed consolidated statements of income, as applicable. The total notional values of derivatives related to our economic hedges of this type were $1,524 million and $1,084 million as of March 29, 2013, and December 31, 2012, respectively.

The following table presents the pretax impact that changes in the fair values of derivatives not designated as hedging instruments had on earnings during the three months ended March 29, 2013, and March 30, 2012, respectively (in millions):



		Three Months Ended
Derivatives Not Designated as Hedging Instruments	Location of Gain (Loss) Recognized in Income	March 29, 2013		March 30, 2012
Foreign currency contracts	Net operating revenues	$	(2	)	$	(9	)
Foreign currency contracts	Other income (loss) — net	67		112
Foreign currency contracts	Cost of goods sold	(2	)	—
Commodity contracts	Cost of goods sold	(69	)	6
Commodity contracts	Selling, general and administrative expenses	—		19
Other derivative instruments	Selling, general and administrative expenses	20		16
Total		$	14		$	144

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Debt and Borrowing Arrangements

3 Months Ended

Mar. 29, 2013

Debt and borrowing arrangements

Debt and Borrowing Arrangements

DEBT AND BORROWING ARRANGEMENTS

During the first quarter of 2013, the Company issued $2,500 million of long-term debt. The general terms of the notes issued are as follows:


•	$500 million total principal amount of notes due March 5, 2015, at a variable interest rate equal to the three-month London Interbank Offered Rate ("LIBOR") minus 0.02 percent;


•	$1,250 million total principal amount of notes due April 1, 2018, at a fixed interest rate of 1.15 percent; and


•	$750 million total principal amount of notes due April 1, 2023, at a fixed interest rate of 2.5 percent.

In addition, during the first quarter of 2013, the Company issued redemption notices for certain amounts of our existing long-term debt. This transaction was completed in April 2013 and included the following notes:


•	$225 million total principal amount of notes due August 15, 2013, at a fixed interest rate of 5.0 percent;


•	$675 million total principal amount of notes due March 3, 2014, at a fixed interest rate of 7.375 percent; and


•	$354 million total principal amount of notes due March 1, 2015, at a fixed interest rate of 4.25 percent.

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Commitments and Contingencies	3 Months Ended
Mar. 29, 2013
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Guarantees As of March 29, 2013, we were contingently liable for guarantees of indebtedness owed by third parties of $632 million, of which $294 million related to variable interest entities ("VIEs"). These guarantees are primarily related to third-party customers, bottlers, vendors and container manufacturing operations that have arisen through the normal course of business. These guarantees have various terms, and none of these guarantees were individually significant. The amount represents the maximum potential future payments that we could be required to make under the guarantees; however, we do not consider it probable that we will be required to satisfy these guarantees. We believe our exposure to concentrations of credit risk is limited due to the diverse geographic areas covered by our operations. Legal Contingencies The Company is involved in various legal proceedings. We establish reserves for specific legal proceedings when we determine that the likelihood of an unfavorable outcome is probable and the amount of loss can be reasonably estimated. Management has also identified certain other legal matters where we believe an unfavorable outcome is reasonably possible and/or for which no estimate of possible losses can be made. Management believes that the total liabilities to the Company that may arise as a result of currently pending legal proceedings will not have a material adverse effect on the Company taken as a whole. During the period from 1970 to 1981, our Company owned Aqua-Chem, Inc., now known as Cleaver-Brooks, Inc. ("Aqua-Chem"). During that time, the Company purchased over $400 million of insurance coverage, which also insures Aqua-Chem for some of its prior and future costs for certain product liability and other claims. A division of Aqua-Chem manufactured certain boilers that contained gaskets that Aqua-Chem purchased from outside suppliers. Several years after our Company sold this entity, Aqua-Chem received its first lawsuit relating to asbestos, a component of some of the gaskets. Aqua-Chem was first named as a defendant in asbestos lawsuits in or around 1985 and currently has approximately 40,000 active claims pending against it. In September 2002, Aqua-Chem notified our Company that it believed we were obligated for certain costs and expenses associated with its asbestos litigations. Aqua-Chem demanded that our Company reimburse it for approximately $10 million for out-of-pocket litigation-related expenses. Aqua-Chem also demanded that the Company acknowledge a continuing obligation to Aqua-Chem for any future liabilities and expenses that are excluded from coverage under the applicable insurance or for which there is no insurance. Our Company disputes Aqua-Chem's claims, and we believe we have no obligation to Aqua-Chem for any of its past, present or future liabilities, costs or expenses. Furthermore, we believe we have substantial legal and factual defenses to Aqua-Chem's claims. The parties entered into litigation in Georgia to resolve this dispute, which was stayed by agreement of the parties pending the outcome of litigation filed in Wisconsin by certain insurers of Aqua-Chem. In that case, five plaintiff insurance companies filed a declaratory judgment action against Aqua-Chem, the Company and 16 defendant insurance companies seeking a determination of the parties' rights and liabilities under policies issued by the insurers and reimbursement for amounts paid by plaintiffs in excess of their obligations. During the course of the Wisconsin insurance coverage litigation, Aqua-Chem and the Company reached settlements with several of the insurers, including plaintiffs, who have or will pay funds into an escrow account for payment of costs arising from the asbestos claims against Aqua-Chem. On July 24, 2007, the Wisconsin trial court entered a final declaratory judgment regarding the rights and obligations of the parties under the insurance policies issued by the remaining defendant insurers, which judgment was not appealed. The judgment directs, among other things, that each insurer whose policy is triggered is jointly and severally liable for 100 percent of Aqua-Chem's losses up to policy limits. The court's judgment concluded the Wisconsin insurance coverage litigation. The Georgia litigation remains subject to the stay agreement. The Company and Aqua-Chem continued to negotiate with various insurers that were defendants in the Wisconsin insurance coverage litigation over those insurers' obligations to defend and indemnify Aqua-Chem for the asbestos-related claims. The Company anticipated that a final settlement with three of those insurers (the "Chartis insurers") would be finalized in May 2011, but such insurers repudiated their settlement commitments and, as a result, Aqua-Chem and the Company filed suit against them in Wisconsin state court to enforce the coverage-in-place settlement or, in the alternative, to obtain a declaratory judgment validating Aqua-Chem and the Company's interpretation of the court's judgment in the Wisconsin insurance coverage litigation. In February 2012, the parties filed and argued a number of cross-motions for summary judgment related to the issues of the enforceability of the settlement agreement and the exhaustion of policies underlying those of the Chartis insurers. The court granted defendants' motions for summary judgment that the 2011 settlement agreement and 2010 term sheet were not binding contracts, but denied their similar motions related to the plaintiffs' claims for promissory and/or equitable estoppel. On or about May 15, 2012, the parties entered into a mutually agreeable settlement/stipulation resolving two major issues: exhaustion of underlying coverage and control of defense. On or about January 10, 2013, the parties reached a settlement of the estoppel claims and all of the remaining coverage issues, with the exception of one disputed issue relating to the scope of the Chartis insurers' defense obligations in two policy years. The trial court granted summary judgment in favor of the Company and Aqua-Chem on that one open issue and entered a final appealable judgment to that effect following the parties' settlement. On January 23, 2013, the Chartis insurers filed a notice of appeal of the trial court's summary judgment ruling. Whatever the outcome of that appeal, these three insurance companies will remain subject to the court's judgment in the Wisconsin insurance coverage litigation. The Company is unable to estimate at this time the amount or range of reasonably possible loss it may ultimately incur as a result of asbestos-related claims against Aqua-Chem. The Company believes that assuming (a) the defense and indemnity costs for the asbestos-related claims against Aqua-Chem in the future are in the same range as during the past five years, and (b) the various insurers that cover the asbestos-related claims against Aqua-Chem remain solvent, regardless of the outcome of the coverage-in-place settlement litigation but taking into account the issues resolved to date, insurance coverage for substantially all defense and indemnity costs would be available for the next 10 to 15 years. Tax Audits The Company is involved in various tax matters, with respect to some of which the outcome is uncertain. We establish reserves to remove some or all of the tax benefit of any of our tax positions at the time we determine that it becomes uncertain based upon one of the following conditions: (1) the tax position is not "more likely than not" to be sustained, (2) the tax position is "more likely than not" to be sustained, but for a lesser amount, or (3) the tax position is "more likely than not" to be sustained, but not in the financial period in which the tax position was originally taken. For purposes of evaluating whether or not a tax position is uncertain, (1) we presume the tax position will be examined by the relevant taxing authority that has full knowledge of all relevant information; (2) the technical merits of a tax position are derived from authorities such as legislation and statutes, legislative intent, regulations, rulings and case law and their applicability to the facts and circumstances of the tax position; and (3) each tax position is evaluated without consideration of the possibility of offset or aggregation with other tax positions taken. A number of years may elapse before a particular uncertain tax position is audited and finally resolved or when a tax assessment is raised. The number of years subject to tax assessments varies depending on the tax jurisdiction. The tax benefit that has been previously reserved because of a failure to meet the "more likely than not" recognition threshold would be recognized in our income tax expense in the first interim period when the uncertainty disappears under any one of the following conditions: (1) the tax position is "more likely than not" to be sustained, (2) the tax position, amount, and/or timing is ultimately settled through negotiation or litigation, or (3) the statute of limitations for the tax position has expired. Refer to Note 13. Risk Management Programs 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 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 catastrophic loss. Our reserves for the Company's self-insured losses are estimated using actuarial methods and assumptions of the insurance industry, 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, and December 31, 2012, respectively.

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Comprehensive Income

3 Months Ended

Mar. 29, 2013

Comprehensive Income

Comprehensive Income

COMPREHENSIVE INCOME

The following table summarizes the allocation of total comprehensive income between shareowners of The Coca-Cola Company and noncontrolling interests (in millions):



	Three Months Ended March 29, 2013
	Shareowners of The Coca-Cola Company		Noncontrolling Interests		Total
Consolidated net income	$	1,751		$	18	$	1,769
Other comprehensive income:
Net foreign currency translation adjustment	47		23		70
Net gain (loss) on derivatives¹	87		—		87
Net unrealized gain (loss) on available-for-sale securities²	8		—		8
Net change in pension and other benefit liabilities	32		—		32
Total comprehensive income	$	1,925		$	41	$	1,966

¹Refer to Note 5 for information related to the net gain or loss on derivative instruments classified as cash flow hedges.

²Refer to Note 3 for information related to the net unrealized gain or loss on available-for-sale securities.

OCI attributable to shareowners of The Coca-Cola Company, including our proportionate share of equity method investees' OCI, for the three months ended March 29, 2013, is as follows (in millions):



	Before-Tax Amount		Income Tax			After-Tax Amount
Foreign currency translation adjustments:
Translation adjustment arising during the period	$	325		$	(60	)		$	265
Reclassification adjustments recognized in net income	(218	)	—			(218	)
Net foreign currency translation adjustments	107		(60	)		47
Derivatives:
Unrealized gains (losses) arising during the period	162		(64	)		98
Reclassification adjustments recognized in net income	(18	)	7			(11	)
Net gain (loss) on derivatives¹	144		(57	)		87
Available-for-sale securities:
Unrealized gains (losses) arising during the period	5		3			8
Reclassification adjustments recognized in net income	—		—			—
Net change in unrealized gain (loss) on available-for-sale securities²	5		3			8
Pension and other benefit liabilities:
Net pension and other benefits arising during the period	7		(5	)		2
Reclassification adjustments recognized in net income³	48		(18	)		30
Net change in pension and other benefit liabilities⁴	55		(23	)		32
Other comprehensive income (loss) attributable to The Coca-Cola Company	$	311		$	(137	)		$	174


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	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 provides further details on our reclassification adjustments.


⁴	Refer to Note 12 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 three months ended March 30, 2012, is as follows (in millions):



	Before-Tax Amount		Income Tax			After-Tax Amount
Net foreign currency translation adjustment	$	900		$	(21	)		$	879
Derivatives:
Unrealized gains (losses) arising during the period	22		(9	)		13
Reclassification adjustments recognized in net income	29		(11	)		18
Net gain (loss) on derivatives¹	51		(20	)		31
Available-for-sale securities:
Unrealized gains (losses) arising during the period	155		(57	)		98
Reclassification adjustments recognized in net income	2		—			2
Net change in unrealized gain (loss) on available-for-sale securities²	157		(57	)		100
Pension and other benefit liabilities:
Net pension and other benefits arising during the period	(24	)	(1	)		(25	)
Reclassification adjustments recognized in net income³	22		(8	)		14
Net change in pension and other benefit liabilities⁴	(2	)	(9	)		(11	)
Other comprehensive income (loss) attributable to The Coca-Cola Company	$	1,106		$	(107	)		$	999


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	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 provides further details on our reclassification adjustments.


⁴	Refer to Note 12 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 statement of income where adjustments reclassified from AOCI into income were recorded during the three months ended March 29, 2013 (in millions):



Description of AOCI Component	Location of Gain (Loss) Recognized in Income	Amount Reclassified from AOCI into Income
Foreign currency translation adjustments:
Disposal of bottling operations	Other income (loss) — net	$	(218	)
	Income before income taxes	$	(218	)
	Income taxes	—
	Consolidated net income	$	(218	)
Derivatives:
Foreign currency contracts	Net operating revenues	$	(19	)
Foreign currency contracts	Cost of goods sold	(2	)
Interest rate contracts	Interest expense	3
	Income before income taxes	$	(18	)
	Income taxes	7
	Consolidated net income	$	(11	)
Pension and other benefit liabilities:
Insignificant items	Other income (loss) — net	$	(1	)
Amortization of net actuarial loss	*	53
Amortization of prior service cost (credit)	*	(4	)
	Income before income taxes	$	48
	Income taxes	(18	)
	Consolidated net income	$	30


*	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 statement of income in its entirety. Refer to Note 12 for additional information.

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Changes in Equity

3 Months Ended

Mar. 29, 2013

Changes in Equity [Abstract]

Changes in Equity

CHANGES IN EQUITY

The following table provides a reconciliation of the beginning and ending carrying amounts of total equity, equity attributable to shareowners of The Coca-Cola Company and equity attributable to noncontrolling interests (in millions):



		Shareowners of The Coca-Cola Company
	Total		Reinvested Earnings		Accumulated Other Comprehensive Income (Loss)	Common Stock		Capital Surplus		Treasury Stock		Non- controlling Interests
December 31, 2012	$	33,168		$	58,045	$	(3,385	)	$	1,760		$	11,379	$	(35,009	)	$	378
Comprehensive income (loss)	1,966		1,751		174	—		—		—		41
Dividends paid/payable to shareowners of The Coca-Cola Company	(1,247	)	(1,247	)	—	—		—		—		—
Business combinations	2		—		—	—		—		—		2
Deconsolidation of certain entities	(7	)	—		—	—		—		—		(7	)
Purchases of treasury stock	(1,513	)	—		—	—		—		(1,513	)	—
Impact of employee stock option and restricted stock plans	525		—		—	—		285		240		—
March 29, 2013	$	32,894		$	58,549	$	(3,211	)	$	1,760		$	11,664	$	(36,282	)	$	414

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Significant Operating and Nonoperating Items	3 Months Ended
Mar. 29, 2013
Significant Operating and Nonoperating Items
Significant Operating and Nonoperating Items	SIGNIFICANT OPERATING AND NONOPERATING ITEMS Other Operating Items Cost of Goods Sold In December 2011, the Company detected that orange juice being imported from Brazil contained residues of carbendazim, a fungicide that is not registered in the United States for use on citrus products. As a result, we began purchasing additional supplies of Florida orange juice at a higher cost than Brazilian orange juice and incurred charges of $5 million during the three months ended March 30, 2012. These charges were recorded in the line item cost of goods sold in our condensed consolidated statements of income. Other Operating Charges During the three months ended March 29, 2013, the Company incurred other operating charges of $121 million. These charges primarily consisted of $102 million due to the Company's productivity and reinvestment program and $21 million due to the Company's other restructuring and integration initiatives, including the integration of our German bottling and distribution operations. Refer to Note 11 for additional information on our productivity and reinvestment program as well as the Company's other productivity, integration and restructuring initiatives. Refer to Note 15 for the impact these charges had on our operating segments. During the three months ended March 30, 2012, the Company incurred other operating charges of $99 million. These charges primarily consisted of $64 million due to the Company's productivity and reinvestment program; $20 million due to changes in the Company's ready-to-drink tea strategy as a result of our U.S. license agreement with Nestlé S.A. ("Nestlé") terminating at the end of 2012; $15 million due to the Company's other restructuring and integration initiatives, including the integration of our German bottling and distribution operations; and $1 million due to costs associated with the Company detecting carbendazim in orange juice imported from Brazil for distribution in the United States. These charges were partially offset by a reversal of $1 million due to the refinement of previously established accruals related to the Company's 2008–2011 productivity initiatives. Refer to Note 11 for additional information on our productivity, integration and restructuring initiatives. Refer to Note 15 for the impact these charges had on our operating segments. Other Nonoperating Items Equity Income (Loss) — Net During the three months ended March 29, 2013, the Company recorded a net charge of $39 million in the line item equity income (loss) — net. This net charge represents the Company's proportionate share of unusual or infrequent items recorded by certain of our equity method investees, including a charge incurred by an equity method investee due to the devaluation of the Venezuelan bolivar. Refer to Note 15 for the impact this charge had on our operating segments. During the three months ended March 30, 2012, the Company recorded a net gain of $44 million in the line item equity income (loss) — net. This net gain primarily represents the Company's proportionate share of unusual or infrequent items recorded by certain of our equity method investees. In addition, the Company recorded a charge of $3 million due to changes in the structure of Beverage Partners Worldwide ("BPW"), our 50/50 joint venture with Nestlé in the ready-to-drink tea category. These changes resulted in the joint venture focusing its geographic scope primarily on Europe and Canada. The Company accounts for our investment in BPW under the equity method of accounting. Refer to Note 15 for the impact these charges had on our operating segments. Other Income (Loss) — Net During the three months ended March 29, 2013, the Company recorded a charge of $140 million in the line item other income (loss) — net due to the Venezuelan government announcing a currency devaluation. As a result of this devaluation, the Company remeasured the net assets related to its operations in Venezuela. Refer to Note 15 for the impact this charge had on our operating segments. During the three months ended March 30, 2012, the Company did not record any significant unusual or infrequent items in the line item other income (loss) — net.

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Productivity, Integration and Restructuring Initiatives

3 Months Ended

Mar. 29, 2013

Productivity and Reinvestment [Abstract]

Productivity, Integration and Restructuring Initiatives

PRODUCTIVITY, INTEGRATION AND RESTRUCTURING INITIATIVES

Productivity and Reinvestment

In February 2012, the Company announced a four-year productivity and reinvestment program which will further enable our efforts to strengthen our brands and reinvest our resources to drive long-term profitable growth. This program is focused on the following initiatives: global supply chain optimization; global marketing and innovation effectiveness; operating expense leverage and operational excellence; data and information technology systems standardization; and further integration of CCE's former North America business.

As of March 29, 2013, the Company has incurred total pretax expenses of $372 million related to this program since the plan commenced. These expenses were recorded in the line item other operating charges in our condensed consolidated statements of income. Refer to Note 15 for the impact these charges had on our operating segments. Outside services reported in the tables below primarily relate to expenses in connection with legal, outplacement and consulting activities. Other direct costs reported in the tables below include, among other items, internal and external costs associated with the development, communication, administration and implementation of these initiatives; accelerated depreciation on certain fixed assets; contract termination fees; and relocation costs.

The following table summarizes the balance of accrued expenses related to these productivity and reinvestment initiatives and the changes in the accrued amounts as of and for the three months ended March 29, 2013 (in millions):



	Accrued Balance December 31, 2012		Costs Incurred Three Months Ended March 29, 2013		Payments		Noncash and Exchange		Accrued Balance March 29, 2013
Severance pay and benefits	$	12		$	45		$	(7	)	$	—	$	50
Outside services	6		23		(26	)	—		3
Other direct costs	8		34		(32	)	—		10
Total	$	26		$	102		$	(65	)	$	—	$	63

Integration of Our German Bottling and Distribution Operations

In 2008, the Company began an integration initiative related to the 18 German bottling and distribution operations acquired in 2007. The Company incurred expenses of $20 million related to this initiative during the three months ended March 29, 2013, and has incurred total pretax expenses of $460 million related to this initiative since it commenced. These charges were recorded in the line item other operating charges in our condensed consolidated statements of income and impacted the Bottling Investments operating segment. The charges recorded in connection with these integration activities have been primarily due to involuntary terminations. The Company had $102 million and $96 million accrued related to these integration costs as of March 29, 2013, and December 31, 2012, respectively.

The Company is currently reviewing other integration and restructuring opportunities within the German bottling and distribution operations, which, if implemented, will result in additional charges in future periods. However, as of March 29, 2013, the Company has not finalized any additional plans.

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Pension and Other Postretirement Benefit Plans

3 Months Ended

Mar. 29, 2013

Pension and Other Postretirement Benefit Plans

Pension and Other Postretirement Benefit Plans

PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS

Net periodic benefit cost for our pension and other postretirement benefit plans consisted of the following during the three months ended March 29, 2013, and March 30, 2012, respectively (in millions):



	Pension Benefits		Other Benefits
	Three Months Ended
	March 29, 2013		March 30, 2012			March 29, 2013		March 30, 2012
Service cost	$	69		$	65			$	9	$	8
Interest cost	94		98			11		11
Expected return on plan assets	(164	)	(144	)		(2	)	(2	)
Amortization of prior service cost (credit)	(1	)	(1	)		(3	)	(13	)
Amortization of net actuarial loss	50		34			3		2
Net periodic benefit cost (credit) recognized in income	$	48		$	52			$	18	$	6

During the three months ended March 29, 2013, the Company contributed $558 million to our pension plans, and we anticipate making additional contributions of approximately $82 million to our pension plans during the remainder of 2013. The Company contributed $936 million to our pension plans during the three months ended March 30, 2012.

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Income Taxes

3 Months Ended

Mar. 29, 2013

Income taxes

Income Taxes

INCOME TAXES

Our effective tax rate reflects the benefits of having significant operations outside the United States, which are generally taxed at rates lower than the U.S. statutory rate of 35 percent. As a result of employment actions and capital investments made by the Company, certain tax jurisdictions provide income tax incentive grants, including Brazil, Costa Rica, Singapore and Swaziland. The terms of these grants expire from 2015 to 2020. We expect each of these grants to be renewed indefinitely. In addition, our effective tax rate reflects the benefits of having significant earnings generated in investments accounted for under the equity method of accounting, which are generally taxed at rates lower than the U.S. statutory rate.

At the end of each interim period, we make our best estimate of the effective tax rate expected to be applicable for the full fiscal year. This estimate reflects, among other items, our best estimate of operating results and foreign currency exchange rates. Based on current tax laws, the Company's estimated effective tax rate for 2013 is 23.5 percent. However, in arriving at this estimate we do not include the estimated impact of unusual and/or infrequent items, which may cause significant variations in the customary relationship between income tax expense and income before income taxes.

The Company recorded income tax expense of $575 million (24.6 percent effective tax rate) during the three months ended March 29, 2013, and income tax expense of $658 million (24.1 percent effective tax rate) during the three months ended March 30, 2012. The following table illustrates the tax expense (benefit) associated with unusual and/or infrequent items for the interim periods presented (in millions):



	Three Months Ended
	March 29, 2013			March 30, 2012
Productivity and reinvestment program	$	(40	)	¹	$	(24	)	⁵
Other productivity, integration and restructuring initiatives	—		²	—
Certain tax matters	1		³	(8	)	⁶
Other — net	4		⁴	(7	)	⁷


¹	Related to charges of $102 million due to the Company's productivity and reinvestment program. Refer to Note 10 and Note 11.


²	Related to charges of $21 million due to the Company's other integration and restructuring initiatives. These initiatives were outside the scope of the Company's productivity and reinvestment program. Refer to Note 10 and Note 11.


³	Related to amounts required to be recorded for changes to our uncertain tax positions, including interest and penalties. The components of the net change in uncertain tax positions were individually insignificant.


⁴	Related to charges of $176 million that primarily consisted of $149 million due to the devaluation of the Venezuelan bolivar and $30 million due to our proportionate share of unusual or infrequent items recorded by certain of our equity method investees. Refer to Note 10.


⁵	Related to charges of $64 million due to the Company's productivity and reinvestment program. Refer to Note 10 and Note 11.


⁶	Related to a net tax benefit primarily associated with the reversal of a valuation allowance in one of the Company's foreign jurisdictions, partially offset by amounts required to be recorded for changes to our uncertain tax positions, including interest and penalties.

⁷

Related to a net gain of $15 million. This net gain is primarily due to a net gain of $44 million related to our proportionate share of unusual or infrequent items recorded by certain of our equity method investees, partially offset by charges of $20 million associated with changes in the Company's ready-to-drink tea strategy in the United States, charges of $3 million associated with changes in the structure of BPW, and charges of $6 million associated with the Company's orange juice supply in the United States. Refer to Note 10.

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Fair Value Measurements

3 Months Ended

Mar. 29, 2013

Fair Value Measurements [Abstract]

Fair Value Measurements

FAIR VALUE MEASUREMENTS

Accounting principles generally accepted in the United States define fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. Additionally, the inputs used to measure fair value are prioritized based on a three-level hierarchy. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows:


•	Level 1 — Quoted prices in active markets for identical assets or liabilities.


•	Level 2 — Observable inputs other than quoted prices included in Level 1. We value assets and liabilities included in this level using dealer and broker quotations, certain pricing models, bid prices, quoted prices for similar assets and liabilities in active markets, or other inputs that are observable or can be corroborated by observable market data.


•	Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.

Recurring Fair Value Measurements

In accordance with accounting principles generally accepted in the United States, certain assets and liabilities are required to be recorded at fair value on a recurring basis. For our Company, the only assets and liabilities that are adjusted to fair value on a recurring basis are investments in equity and debt securities classified as trading or available-for-sale and derivative financial instruments. Additionally, the Company adjusts the fair value of long-term debt as a result of the Company's fair value hedging strategy.

Investments in Trading and Available-for-Sale Securities

The fair values of our investments in trading and available-for-sale securities using quoted market prices from daily exchange traded markets were based on the closing price as of the balance sheet date and were classified as Level 1. The fair values of our investments in trading and available-for-sale securities classified as Level 2 are priced using quoted market prices for similar instruments or nonbinding market prices that are corroborated by observable market data. Inputs into these valuation techniques include actual trade data, benchmark yields, broker/dealer quotes, and other similar data. These inputs are obtained from quoted market prices, independent pricing vendors or other sources.

Derivative Financial Instruments

The fair values of our futures contracts were primarily determined using quoted contract prices on futures exchange markets. The fair values of these instruments were based on the closing contract price as of the balance sheet date and were classified as Level 1.

The fair values of our derivative instruments other than futures were determined using standard valuation models. The significant inputs used in these models are readily available in public markets, or can be derived from observable market transactions, and therefore have been classified as Level 2. Inputs used in these standard valuation models for derivative instruments other than futures include the applicable exchange rates, forward rates, interest rates and discount rates. The standard valuation model for options also uses implied volatility as an additional input. The discount rates are based on the historical U.S. Deposit or U.S. Treasury rates, and the implied volatility specific to options is based on quoted rates from financial institutions.

Included in the fair value of derivative instruments is an adjustment for nonperformance risk. The adjustment is based on the current one-year credit default swap ("CDS") rate applied to each contract, by counterparty. We use our counterparty's CDS rate when we are in an asset position and our own CDS rate when we are in a liability position. The adjustment for nonperformance risk did not have a significant impact on the estimated fair value of our derivative instruments. The following table summarizes those assets and liabilities measured at fair value on a recurring basis as of March 29, 2013 (in millions):



	Level 1		Level 2		Level 3		Netting Adjustment¹		Fair Value Measurements
Assets
Trading securities²	$	126		$	151	$	3			$	—		$	280
Available-for-sale securities²	1,409		3,159		130	³	—		4,698
Derivatives⁴	57		805		—		(106	)	756		⁵
Total assets	$	1,592		$	4,115	$	133			$	(106	)	$	5,734
Liabilities
Derivatives⁴	$	30		$	116	$	—			$	(108	)	$	38	⁵
Total liabilities	$	30		$	116	$	—			$	(108	)	$	38

¹Amounts represent the impact of legally enforceable master netting agreements that allow the Company to settle positive and negative positions and also cash collateral held or placed with the same counterparties. There are no amounts subject to legally enforceable master netting agreements that management has chosen not to offset or that do not meet the offsetting requirements.


²	Refer to Note 3 for additional information related to the composition of our trading securities and available-for-sale securities.

³Primarily related to long-term debt securities that mature in 2018.

⁴Refer to Note 5 for additional information related to the composition of our derivative portfolio.

⁵The Company's derivative financial instruments are recorded at fair value in our condensed consolidated balance sheet as follows: $270 million in the line item prepaid expenses and other assets; $486 million in the line item other assets; $14 million in the line item accounts payable and accrued expenses; and $24 million in the line item other liabilities. Refer to Note 5 for additional information related to the composition of our derivative portfolio.

The following table summarizes those assets and liabilities measured at fair value on a recurring basis as of December 31, 2012 (in millions):



	Level 1		Level 2		Level 3		Netting Adjustment¹		Fair Value Measurements
Assets
Trading securities²	$	146		$	116	$	4			$	—		$	266
Available-for-sale securities²	1,390		3,068		135	³	—		4,593
Derivatives⁴	47		583		—		(116	)	514		⁵
Total assets	$	1,583		$	3,767	$	139			$	(116	)	$	5,373
Liabilities
Derivatives⁴	$	35		$	98	$	—			$	(121	)	$	12	⁵
Total liabilities	$	35		$	98	$	—			$	(121	)	$	12


²	Refer to Note 3 for additional information related to the composition of our trading securities and available-for-sale securities.

³Primarily related to long-term debt securities that mature in 2018.

⁴Refer to Note 5 for additional information related to the composition of our derivative portfolio.

⁵The Company's derivative financial instruments are recorded at fair value in our condensed consolidated balance sheet as follows: $137 million in the line item prepaid expenses and other assets; $377 million in the line item other assets; $4 million in the line item accounts payable and accrued expenses; and $8 million in the line item other liabilities. Refer to Note 5 for additional information related to the composition of our derivative portfolio.

Gross realized and unrealized gains and losses on Level 3 assets and liabilities were not significant for the three months ended March 29, 2013, and March 30, 2012.

The Company recognizes transfers between levels within the hierarchy as of the beginning of the reporting period. Gross transfers between levels within the hierarchy were not significant for the three months ended March 29, 2013, and March 30, 2012.

Nonrecurring Fair Value Measurements

In addition to assets and liabilities that are recorded at fair value on a recurring basis, the Company records assets and liabilities at fair value on a nonrecurring basis as required by accounting principles generally accepted in the United States. Generally, assets are recorded at fair value on a nonrecurring basis as a result of impairment charges.

The Company did not record any significant impairment charges related to assets measured at fair value on a nonrecurring basis during the three months ended March 29, 2013, and March 30, 2012.

Other Fair Value Disclosures

The carrying amounts of cash and cash equivalents; short-term investments; receivables; accounts payable and accrued expenses; and loans and notes payable approximate their fair values because of the relatively short-term maturities of these instruments.

The fair value of our long-term debt is estimated using Level 2 inputs based on quoted prices for those or similar instruments. As of March 29, 2013, the carrying amount and fair value of our long-term debt, including the current portion, were $18,796 million and $19,581 million, respectively. As of December 31, 2012, the carrying amount and fair value of our long-term debt, including the current portion, were $16,313 million and $17,157 million, respectively.

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Operating Segments

3 Months Ended

Mar. 29, 2013

Operating Segments

Operating Segments

OPERATING SEGMENTS

Effective January 1, 2013, the Company transferred our India and South West Asia business unit from the Eurasia and Africa operating segment to the Pacific operating segment. Accordingly, all prior period segment information presented herein has been adjusted to reflect this change in our organizational structure.

Information about our Company's operations as of and for the three months ended March 29, 2013, and March 30, 2012, by operating segment, is as follows (in millions):



	Eurasia & Africa		Europe		Latin America	North America		Pacific		Bottling Investments	Corporate		Eliminations		Consolidated
2013
Net operating revenues:
Third party	$	669		$	1,020	$	1,157		$	4,883	$	1,244		$	2,018	$	44	$	—	$	11,035
Intersegment	—		157		71	4		146		20	—		(398	)	—
Total net revenues	669		1,177		1,228	4,887		1,390		2,038	44		(398	)	11,035
Operating income (loss)	282		683		763	341		602		39	(302	)	—		2,408
Income (loss) before income taxes	289		694		764	342		604		109	(458	)	—		2,344
Identifiable operating assets	1,366		3,160		2,734	34,591		2,193		8,224	25,105		—		77,373
Noncurrent investments	1,172		278		567	38		128		8,828	66		—		11,077
2012
Net operating revenues:
Third party	$	615		$	1,054	$	1,127		$	4,917	$	1,310		$	2,084	$	30	$	—	$	11,137
Intersegment	—		150		59	4		138		19	—		(370	)	—
Total net revenues	615		1,204		1,186	4,921		1,448		2,103	30		(370	)	11,137
Operating income (loss)	266		695		744	451		602		35	(284	)	—		2,509
Income (loss) before income taxes	266		708		743	467		601		169	(229	)	—		2,725
Identifiable operating assets	1,304		3,276		2,667	33,932		2,103		9,439	22,265		—		74,986
Noncurrent investments	304		251		535	22		132		7,593	74		—		8,911
As of December 31, 2012
Identifiable operating assets	$	1,299		$	2,976	$	2,759		$	34,114	$	2,163		$	9,648	$	22,767	$	—	$	75,726
Noncurrent investments	1,155		271		539	39		127		8,253	64		—		10,448

During the three months ended March 29, 2013, the results of our operating segments were impacted by the following items:

•

Operating income (loss) and income (loss) before income taxes were reduced by $2 million for Eurasia and Africa, $82 million for North America, $8 million for Pacific, $21 million for Bottling Investments and $10 million for Corporate due to charges related to the Company's productivity and reinvestment program as well as other restructuring initiatives. Refer to Note 10 and Note 11 for additional information on each of the Company's productivity, restructuring and integration initiatives.


•	Income (loss) before income taxes was reduced by $9 million for Bottling Investments and $140 million for Corporate due to the devaluation of the Venezuelan bolivar, including our proportionate share of the charge incurred by an equity method investee which has operations in Venezuela. Refer to Note 10.


•	Income (loss) before income taxes was reduced by $30 million for Bottling Investments due to the Company’s proportionate share of unusual or infrequent items recorded by certain of our equity method investees. Refer to Note 10.

During the three months ended March 30, 2012, the results of our operating segments were impacted by the following items:

•

Operating income (loss) and income (loss) before income taxes were reduced by $61 million for North America, $15 million for Bottling Investments and $3 million for Corporate due to the Company's productivity and reinvestment program as well as other restructuring initiatives. Refer to Note 10 and Note 11. Operating income (loss) and income (loss) before income taxes were increased by $1 million for Europe due to the reversal of an accrual related to the Company's 2008–2011 productivity initiatives.


•	Operating income (loss) and income (loss) before income taxes were reduced by $20 million for North America due to changes in the Company's ready-to-drink tea strategy as a result of our current U.S. license agreement with Nestlé terminating at the end of 2012. Refer to Note 10.

•

Operating income (loss) and income (loss) before income taxes were reduced by $6 million for North America due to costs associated with the Company detecting residues of carbendazim, a fungicide that is not registered in the United States for use on citrus products, in orange juice imported from Brazil for distribution in the United States. As a result, the Company began purchasing additional supplies of Florida orange juice at a higher cost than Brazilian orange juice. Refer to Note 10.


•	Income (loss) before income taxes was reduced by $3 million for Corporate due to changes in the structure of BPW, our 50/50 joint venture with Nestlé in the ready-to-drink tea category. Refer to Note 10.


•	Income (loss) before income taxes was increased by $44 million for Bottling Investments due to the Company's proportionate share of unusual or infrequent items recorded by certain of our equity method investees. Refer to Note 10.

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Acquisitions and Divestitures (Tables)

3 Months Ended

Mar. 29, 2013

Acquisitions and divestitures

Information related to the major classes of assets and liabilities classified as held for sale



	March 29, 2013		December 31, 2012
	Brazilian Bottling Operations		Brazilian Bottling Operations			Philippine Bottling Operations			Total Bottling Operations Held for Sale as of December 31, 2012
Cash, cash equivalents and short-term investments	$	85		$	45			$	133		$	178
Trade accounts receivable, less allowances	62		88			108			196
Inventories	92		85			187			272
Prepaid expenses and other assets	134		174			223			397
Other assets	182		128			7			135
Property, plant and equipment — net	464		419			841			1,260
Bottlers' franchise rights with indefinite lives	141		130			341			471
Goodwill	23		22			148			170
Other intangible assets	—		1			—			1
Allowance for reduction of assets held for sale	—		—			(107	)		(107	)
Total assets	$	1,183		$	1,092			$	1,881		$	2,973
Accounts payable and accrued expenses	$	140		$	157			$	241		$	398
Loans and notes payable	15		6			—			6
Current maturities of long-term debt	32		28			—			28
Accrued income taxes	1		4			(4	)		—
Long-term debt	152		147			—			147
Other liabilities	85		75			20			95
Deferred income taxes	21		20			102			122
Total liabilities	$	446		$	437			$	359		$	796

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Investments (Tables)

3 Months Ended

Mar. 29, 2013

Investments [Abstracts]

Schedule of trading securities

The Company's trading securities were included in the following line items in our condensed consolidated balance sheets (in millions):



	March 29, 2013		December 31, 2012
Marketable securities	$	195		$	184
Other assets	85		82
Total trading securities	$	280		$	266

Certain Debt and Marketable Equity Securities, Available-for-Sale and Held-To-Maturity Securities, Value and Maturities

As of March 29, 2013, available-for-sale securities consisted of the following (in millions):



		Gross Unrealized
	Cost		Gains		Losses		Fair Value
Available-for-sale securities:¹
Equity securities	$	962		$	459		$	(12	)	$	1,409
Debt securities	3,246		47		(4	)	3,289
Total available-for-sale securities	$	4,208		$	506		$	(16	)	$	4,698

¹Refer to Note 14 for additional information related to the estimated fair value.

As of December 31, 2012, available-for-sale securities consisted of the following (in millions):



		Gross Unrealized
	Cost		Gains		Losses		Fair Value
Available-for-sale securities:¹
Equity securities	$	957		$	441		$	(10	)	$	1,388
Debt securities	3,169		46		(10	)	3,205
Total available-for-sale securities	$	4,126		$	487		$	(20	)	$	4,593

¹Refer to Note 14 for additional information related to the estimated fair value.

Schedule of Realized Gain (Loss) [Table Text Block]

The sale and/or maturity of available-for-sale securities resulted in the following activity during the three months ended March 29, 2013, and March 30, 2012 (in millions):



	Three Months Ended
	March 29, 2013		March 30, 2012
Gross gains	$	5		$	1
Gross losses	(5	)	(2	)
Proceeds	1,137		1,231

Investments by Balance Sheet Grouping

The Company's available-for-sale securities were included in the following line items in our condensed consolidated balance sheets (in millions):



	March 29, 2013		December 31, 2012
Cash and cash equivalents	$	100		$	9
Marketable securities	2,895		2,908
Other investments, principally bottling companies	1,080		1,087
Other assets	623		589
Total available-for-sale securities	$	4,698		$	4,593

Contractual maturity amounts of the investment securities

The contractual maturities of these available-for-sale securities as of March 29, 2013, were as follows (in millions):



	Cost		Fair Value
Within 1 year	$	1,166		$	1,171
After 1 year through 5 years	1,502		1,509
After 5 years through 10 years	263		291
After 10 years	315		318
Equity securities	962		1,409
Total available-for-sale securities	$	4,208		$	4,698

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Inventories (Tables)

3 Months Ended

Mar. 29, 2013

Inventories

Schedule of Inventory, Current [Table Text Block]

Inventories consisted of the following (in millions):



	March 29, 2013		December 31, 2012
Raw materials and packaging	$	1,899		$	1,773
Finished goods	1,375		1,171
Other	333		320
Total inventories	$	3,607		$	3,264

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Hedging Transactions and Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 29, 2013

Hedging Transactions and Derivative Financial Instruments

Derivative instruments, fair value, designated as hedging instruments

The following table presents the fair values of the Company's derivative instruments that were designated and qualified as part of a hedging relationship (in millions):



		Fair Value^1,2
Derivatives Designated as Hedging Instruments	Balance Sheet Location¹	March 29, 2013		December 31, 2012
Assets
Foreign currency contracts	Prepaid expenses and other assets	$	248		$	149
Foreign currency contracts	Other assets	56		—
Commodity contracts	Prepaid expenses and other assets	1		—
Interest rate contracts	Prepaid expenses and other assets	10		7
Interest rate contracts	Other assets	313		335
Total assets		$	628		$	491
Liabilities
Foreign currency contracts	Accounts payable and accrued expenses	$	33		$	55
Foreign currency contracts	Other liabilities	14		—
Commodity contracts	Accounts payable and accrued expenses	—		1
Interest rate contracts	Other liabilities	7		6
Total liabilities		$	54		$	62

²Refer to Note 14 for additional information related to the estimated fair value.

Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]

The following table presents the fair values of the Company's derivative instruments that were not designated as hedging instruments (in millions):



		Fair Value^1,2
Derivatives Not Designated as Hedging Instruments	Balance Sheet Location¹	March 29, 2013		December 31, 2012
Assets
Foreign currency contracts	Prepaid expenses and other assets	$	36		$	19
Foreign currency contracts	Other assets	117		42
Commodity contracts	Prepaid expenses and other assets	71		72
Other derivative instruments	Prepaid expenses and other assets	10		6
Total assets		$	234		$	139
Liabilities
Foreign currency contracts	Accounts payable and accrued expenses	$	20		$	24
Foreign currency contracts	Other liabilities	20		1
Commodity contracts	Accounts payable and accrued expenses	50		43
Commodity contracts	Other liabilities	2		1
Other derivative instruments	Accounts payable and accrued expenses	—		2
Total liabilities		$	92		$	71

²Refer to Note 14 for additional information related to the estimated fair value.

Derivative instruments, designated as hedging instruments, gain (loss) in statement of financial performance



	Gain (Loss) Recognized in Other Comprehensive Income ("OCI")		Location of Gain (Loss) Recognized in Income¹	Gain (Loss) Reclassified from AOCI into Income (Effective Portion)		Gain (Loss) Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing)
Foreign currency contracts	$	131		Net operating revenues	$	19	$	—	²
Foreign currency contracts	21		Cost of goods sold	2		—
Interest rate contracts	13		Interest expense	(3	)	—	²
Commodity contracts	2		Cost of goods sold	—		—
Total	$	167			$	18	$	—

²Includes a de minimis amount of ineffectiveness in the hedging relationship.



	Gain (Loss) Recognized in OCI		Location of Gain (Loss) Recognized in Income¹	Gain (Loss) Reclassified from AOCI into Income (Effective Portion)		Gain (Loss) Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing)
Foreign currency contracts	$	(1	)	Net operating revenues	$	(21	)	$	1
Foreign currency contracts	26		Cost of goods sold	(6	)	—
Interest rate contracts	—		Interest expense	(3	)	—
Commodity contracts	(1	)	Cost of goods sold	1		—
Total	$	24			$	(29	)	$	1

Derivative instruments, fair value hedges, gain (loss) recognized in income



Fair Value Hedging Instruments	Location of Gain (Loss) Recognized in Income	Gain (Loss) Recognized in Income
March 29, 2013		March 30, 2012
Interest rate contracts	Interest expense	$	(35	)	$	(21	)
Fixed-rate debt	Interest expense	45		39
Net impact to interest expense		$	10		$	18
Foreign currency contracts	Other income (loss) — net	$	10		$	40
Available-for-sale securities	Other income (loss) — net	(16	)	(39	)
Net impact to other income (loss) — net		$	(6	)	$	1
Net impact of fair value hedging instruments		$	4		$	19

Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss) [Table Text Block]

Schedule of Derivative Instruments Not Designated as Hedging Instruments Gain (Loss) in Statement of Financial Performance [Table Text Block]



		Three Months Ended
Derivatives Not Designated as Hedging Instruments	Location of Gain (Loss) Recognized in Income	March 29, 2013		March 30, 2012
Foreign currency contracts	Net operating revenues	$	(2	)	$	(9	)
Foreign currency contracts	Other income (loss) — net	67		112
Foreign currency contracts	Cost of goods sold	(2	)	—
Commodity contracts	Cost of goods sold	(69	)	6
Commodity contracts	Selling, general and administrative expenses	—		19
Other derivative instruments	Selling, general and administrative expenses	20		16
Total		$	14		$	144

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Comprehensive Income (Tables)

3 Months Ended

Mar. 29, 2013

Comprehensive Income

Comprehensive Income (Loss), Apportioned between Shareowners of the Coca-Cola Company and Noncontrolling Interests [Text Block]

The following table summarizes the allocation of total comprehensive income between shareowners of The Coca-Cola Company and noncontrolling interests (in millions):



	Three Months Ended March 29, 2013
	Shareowners of The Coca-Cola Company		Noncontrolling Interests		Total
Consolidated net income	$	1,751		$	18	$	1,769
Other comprehensive income:
Net foreign currency translation adjustment	47		23		70
Net gain (loss) on derivatives¹	87		—		87
Net unrealized gain (loss) on available-for-sale securities²	8		—		8
Net change in pension and other benefit liabilities	32		—		32
Total comprehensive income	$	1,925		$	41	$	1,966

¹Refer to Note 5 for information related to the net gain or loss on derivative instruments classified as cash flow hedges.

²Refer to Note 3 for information related to the net unrealized gain or loss on available-for-sale securities.

OCI attributable to the shareowners of The Coca-Cola Company

OCI attributable to shareowners of The Coca-Cola Company, including our proportionate share of equity method investees' OCI, for the three months ended March 29, 2013, is as follows (in millions):



	Before-Tax Amount		Income Tax			After-Tax Amount
Foreign currency translation adjustments:
Translation adjustment arising during the period	$	325		$	(60	)		$	265
Reclassification adjustments recognized in net income	(218	)	—			(218	)
Net foreign currency translation adjustments	107		(60	)		47
Derivatives:
Unrealized gains (losses) arising during the period	162		(64	)		98
Reclassification adjustments recognized in net income	(18	)	7			(11	)
Net gain (loss) on derivatives¹	144		(57	)		87
Available-for-sale securities:
Unrealized gains (losses) arising during the period	5		3			8
Reclassification adjustments recognized in net income	—		—			—
Net change in unrealized gain (loss) on available-for-sale securities²	5		3			8
Pension and other benefit liabilities:
Net pension and other benefits arising during the period	7		(5	)		2
Reclassification adjustments recognized in net income³	48		(18	)		30
Net change in pension and other benefit liabilities⁴	55		(23	)		32
Other comprehensive income (loss) attributable to The Coca-Cola Company	$	311		$	(137	)		$	174


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	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 provides further details on our reclassification adjustments.


⁴	Refer to Note 12 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 three months ended March 30, 2012, is as follows (in millions):



	Before-Tax Amount		Income Tax			After-Tax Amount
Net foreign currency translation adjustment	$	900		$	(21	)		$	879
Derivatives:
Unrealized gains (losses) arising during the period	22		(9	)		13
Reclassification adjustments recognized in net income	29		(11	)		18
Net gain (loss) on derivatives¹	51		(20	)		31
Available-for-sale securities:
Unrealized gains (losses) arising during the period	155		(57	)		98
Reclassification adjustments recognized in net income	2		—			2
Net change in unrealized gain (loss) on available-for-sale securities²	157		(57	)		100
Pension and other benefit liabilities:
Net pension and other benefits arising during the period	(24	)	(1	)		(25	)
Reclassification adjustments recognized in net income³	22		(8	)		14
Net change in pension and other benefit liabilities⁴	(2	)	(9	)		(11	)
Other comprehensive income (loss) attributable to The Coca-Cola Company	$	1,106		$	(107	)		$	999


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	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 provides further details on our reclassification adjustments.


⁴	Refer to Note 12 for additional information related to the Company's pension and other postretirement benefit liabilities.

Income statement location of adjustments reclassified form AOCI into income



Description of AOCI Component	Location of Gain (Loss) Recognized in Income	Amount Reclassified from AOCI into Income
Foreign currency translation adjustments:
Disposal of bottling operations	Other income (loss) — net	$	(218	)
	Income before income taxes	$	(218	)
	Income taxes	—
	Consolidated net income	$	(218	)
Derivatives:
Foreign currency contracts	Net operating revenues	$	(19	)
Foreign currency contracts	Cost of goods sold	(2	)
Interest rate contracts	Interest expense	3
	Income before income taxes	$	(18	)
	Income taxes	7
	Consolidated net income	$	(11	)
Pension and other benefit liabilities:
Insignificant items	Other income (loss) — net	$	(1	)
Amortization of net actuarial loss	*	53
Amortization of prior service cost (credit)	*	(4	)
	Income before income taxes	$	48
	Income taxes	(18	)
	Consolidated net income	$	30


*	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 statement of income in its entirety. Refer to Note 12 for additional information.

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Changes in Equity (Tables)

3 Months Ended

Mar. 29, 2013

Changes in Equity [Abstract]

Changes in Equity



		Shareowners of The Coca-Cola Company
	Total		Reinvested Earnings		Accumulated Other Comprehensive Income (Loss)	Common Stock		Capital Surplus		Treasury Stock		Non- controlling Interests
December 31, 2012	$	33,168		$	58,045	$	(3,385	)	$	1,760		$	11,379	$	(35,009	)	$	378
Comprehensive income (loss)	1,966		1,751		174	—		—		—		41
Dividends paid/payable to shareowners of The Coca-Cola Company	(1,247	)	(1,247	)	—	—		—		—		—
Business combinations	2		—		—	—		—		—		2
Deconsolidation of certain entities	(7	)	—		—	—		—		—		(7	)
Purchases of treasury stock	(1,513	)	—		—	—		—		(1,513	)	—
Impact of employee stock option and restricted stock plans	525		—		—	—		285		240		—
March 29, 2013	$	32,894		$	58,549	$	(3,211	)	$	1,760		$	11,664	$	(36,282	)	$	414

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Productivity, Integration and Restructuring Initiatives (Tables)

3 Months Ended

Mar. 29, 2013

Restructuring Cost and Reserve [Line Items]

Productivity and Reinvestment costs [Table Text Block]



	Accrued Balance December 31, 2012		Costs Incurred Three Months Ended March 29, 2013		Payments		Noncash and Exchange		Accrued Balance March 29, 2013
Severance pay and benefits	$	12		$	45		$	(7	)	$	—	$	50
Outside services	6		23		(26	)	—		3
Other direct costs	8		34		(32	)	—		10
Total	$	26		$	102		$	(65	)	$	—	$	63

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Pension and Other Postretirement Benefit Plans (Tables)

3 Months Ended

Mar. 29, 2013

Pension and Other Postretirement Benefit Plans

Periodic benefit cost, pension and other postretirement benefit plans



	Pension Benefits		Other Benefits
	Three Months Ended
	March 29, 2013		March 30, 2012			March 29, 2013		March 30, 2012
Service cost	$	69		$	65			$	9	$	8
Interest cost	94		98			11		11
Expected return on plan assets	(164	)	(144	)		(2	)	(2	)
Amortization of prior service cost (credit)	(1	)	(1	)		(3	)	(13	)
Amortization of net actuarial loss	50		34			3		2
Net periodic benefit cost (credit) recognized in income	$	48		$	52			$	18	$	6

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Income Taxes (Tables)

3 Months Ended

Mar. 29, 2013

Income taxes

Schedule of tax expense (benefit) associated with unusual and/or infrequent items for the interim periods presented

The following table illustrates the tax expense (benefit) associated with unusual and/or infrequent items for the interim periods presented (in millions):



	Three Months Ended
	March 29, 2013			March 30, 2012
Productivity and reinvestment program	$	(40	)	¹	$	(24	)	⁵
Other productivity, integration and restructuring initiatives	—		²	—
Certain tax matters	1		³	(8	)	⁶
Other — net	4		⁴	(7	)	⁷


¹	Related to charges of $102 million due to the Company's productivity and reinvestment program. Refer to Note 10 and Note 11.


²	Related to charges of $21 million due to the Company's other integration and restructuring initiatives. These initiatives were outside the scope of the Company's productivity and reinvestment program. Refer to Note 10 and Note 11.


³	Related to amounts required to be recorded for changes to our uncertain tax positions, including interest and penalties. The components of the net change in uncertain tax positions were individually insignificant.


⁴	Related to charges of $176 million that primarily consisted of $149 million due to the devaluation of the Venezuelan bolivar and $30 million due to our proportionate share of unusual or infrequent items recorded by certain of our equity method investees. Refer to Note 10.


⁵	Related to charges of $64 million due to the Company's productivity and reinvestment program. Refer to Note 10 and Note 11.


⁶	Related to a net tax benefit primarily associated with the reversal of a valuation allowance in one of the Company's foreign jurisdictions, partially offset by amounts required to be recorded for changes to our uncertain tax positions, including interest and penalties.

⁷

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Fair Value Measurements (Tables)

3 Months Ended

Mar. 29, 2013

Fair Value Measurements [Abstract]

Assets and liabilities measured at fair value on a recurring basis

The following table summarizes those assets and liabilities measured at fair value on a recurring basis as of March 29, 2013 (in millions):



	Level 1		Level 2		Level 3		Netting Adjustment¹		Fair Value Measurements
Assets
Trading securities²	$	126		$	151	$	3			$	—		$	280
Available-for-sale securities²	1,409		3,159		130	³	—		4,698
Derivatives⁴	57		805		—		(106	)	756		⁵
Total assets	$	1,592		$	4,115	$	133			$	(106	)	$	5,734
Liabilities
Derivatives⁴	$	30		$	116	$	—			$	(108	)	$	38	⁵
Total liabilities	$	30		$	116	$	—			$	(108	)	$	38


²	Refer to Note 3 for additional information related to the composition of our trading securities and available-for-sale securities.

³Primarily related to long-term debt securities that mature in 2018.

⁴Refer to Note 5 for additional information related to the composition of our derivative portfolio.

The following table summarizes those assets and liabilities measured at fair value on a recurring basis as of December 31, 2012 (in millions):



	Level 1		Level 2		Level 3		Netting Adjustment¹		Fair Value Measurements
Assets
Trading securities²	$	146		$	116	$	4			$	—		$	266
Available-for-sale securities²	1,390		3,068		135	³	—		4,593
Derivatives⁴	47		583		—		(116	)	514		⁵
Total assets	$	1,583		$	3,767	$	139			$	(116	)	$	5,373
Liabilities
Derivatives⁴	$	35		$	98	$	—			$	(121	)	$	12	⁵
Total liabilities	$	35		$	98	$	—			$	(121	)	$	12


²	Refer to Note 3 for additional information related to the composition of our trading securities and available-for-sale securities.

³Primarily related to long-term debt securities that mature in 2018.

⁴Refer to Note 5 for additional information related to the composition of our derivative portfolio.

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Operating Segments (Tables)

3 Months Ended

Mar. 29, 2013

Operating Segments [Abstract]

Operating Segments

Information about our Company's operations as of and for the three months ended March 29, 2013, and March 30, 2012, by operating segment, is as follows (in millions):



	Eurasia & Africa		Europe		Latin America	North America		Pacific		Bottling Investments	Corporate		Eliminations		Consolidated
2013
Net operating revenues:
Third party	$	669		$	1,020	$	1,157		$	4,883	$	1,244		$	2,018	$	44	$	—	$	11,035
Intersegment	—		157		71	4		146		20	—		(398	)	—
Total net revenues	669		1,177		1,228	4,887		1,390		2,038	44		(398	)	11,035
Operating income (loss)	282		683		763	341		602		39	(302	)	—		2,408
Income (loss) before income taxes	289		694		764	342		604		109	(458	)	—		2,344
Identifiable operating assets	1,366		3,160		2,734	34,591		2,193		8,224	25,105		—		77,373
Noncurrent investments	1,172		278		567	38		128		8,828	66		—		11,077
2012
Net operating revenues:
Third party	$	615		$	1,054	$	1,127		$	4,917	$	1,310		$	2,084	$	30	$	—	$	11,137
Intersegment	—		150		59	4		138		19	—		(370	)	—
Total net revenues	615		1,204		1,186	4,921		1,448		2,103	30		(370	)	11,137
Operating income (loss)	266		695		744	451		602		35	(284	)	—		2,509
Income (loss) before income taxes	266		708		743	467		601		169	(229	)	—		2,725
Identifiable operating assets	1,304		3,276		2,667	33,932		2,103		9,439	22,265		—		74,986
Noncurrent investments	304		251		535	22		132		7,593	74		—		8,911
As of December 31, 2012
Identifiable operating assets	$	1,299		$	2,976	$	2,759		$	34,114	$	2,163		$	9,648	$	22,767	$	—	$	75,726
Noncurrent investments	1,155		271		539	39		127		8,253	64		—		10,448

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Acquisitions and Divestitures (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
Mar. 29, 2013	Mar. 30, 2012
Acquisition and investment activities
Proceeds from disposals of businesses, equity method investments and nonmarketable securities	$ 690	$ 11
Acquisitions of businesses, equity method investments and nonmarketable securities	$ 28	$ 120

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Acquisitions and Divestitures (Details 2) (USD $) In Millions, unless otherwise specified	Dec. 31, 2012 Total Bottling Operations Held for Sale [Domain]	Dec. 31, 2012 Philippine Bottling Operations [Member]	Mar. 29, 2013 Brazilian Bottling Operations [Member]	Dec. 31, 2012 Brazilian Bottling Operations [Member]
Divestitures [Line Items]
Loss on sale of a business		$ 107
Cash, cash equivalents and short-term investments	178	133	85	45
Trade accounts receivable, less allowances	196	108	62	88
Inventories	272	187	92	85
Prepaid expenses and other assets	397	223	134	174
Other Assets	135	7	182	128
Property plant and equipment - net	1,260	841	464	419
Bottlers' franchise rights with indefinite lives	471	341	141	130
Goodwill	170	148	23	22
Other Intangible Assets	1	0	0	1
Allowance for reduction of assets held for sale	(107)	(107)	0	0
Total assets	2,973	1,881	1,183	1,092
Accounts payable and accrued expenses	398	241	140	157
Loans and notes payable	6	0	15	6
Current maturities of long term debt	28	0	32	28
Accrued Income Taxes	0	(4)	1	4
Long-term debt	147	0	152	147
Other liabilities	95	20	85	75
Deferred Income Taxes	122	102	21	20
Total liabilities	$ 796	$ 359	$ 446	$ 437

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Investments (Details) (USD $) In Millions, unless otherwise specified	Mar. 29, 2013	Dec. 31, 2012
Trading Securities
Trading securities, net unrealized (gains) losses	$ (34)	$ (19)
Marketable Securities	195	184
Other Assets	85	82
Equity Securities [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Total trading securities	$ 280	$ 266

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Investments (Details 2) (USD $) In Millions, unless otherwise specified	Mar. 29, 2013	Dec. 31, 2012
Available-for-sale securities, by type
Available-for-sale Securities, Amortized Cost Basis	$ 4,208	$ 4,126
Available-for-sale Securities, Gross Unrealized Gains	506	487
Available-for-sale Securities, Gross Unrealized Losses	(16)	(20)
Available-for-sale Securities Fair Value	4,698	4,593
Equity Securities
Available-for-sale securities, by type
Available-for-sale Securities, Amortized Cost Basis	962	957
Available-for-sale Securities, Gross Unrealized Gains	459	441
Available-for-sale Securities, Gross Unrealized Losses	(12)	(10)
Available-for-sale Securities Fair Value	1,409	1,388
Debt Securities
Available-for-sale securities, by type
Available-for-sale Securities, Amortized Cost Basis	3,246	3,169
Available-for-sale Securities, Gross Unrealized Gains	47	46
Available-for-sale Securities, Gross Unrealized Losses	(4)	(10)
Available-for-sale Securities Fair Value	$ 3,289	$ 3,205

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Investments (Details 4) (USD $) In Millions, unless otherwise specified	3 Months Ended
Mar. 29, 2013	Mar. 30, 2012	Dec. 31, 2012	Dec. 31, 2011
Available-for-sale and held-to-maturity securities by balance sheet line item
Cash and cash equivalents	$ 9,162	$ 10,664	$ 8,442	$ 12,803
Marketable securities	3,090		3,092
Other investments, principally bottling companies	1,227		1,232
Other assets	3,922		3,585
Available-for-sale Securities Fair Value	4,698		4,593
Proceeds from Sale of Available-for-sale Securities	1,137	1,231
Available-for-sale Securities Gross Gains	5	1
Available-for-sale Securities Gross Losses	(5)	(2)
Available-for-sale Securities [Member]
Available-for-sale and held-to-maturity securities by balance sheet line item
Cash and cash equivalents	100		9
Marketable securities	2,895		2,908
Other investments, principally bottling companies	1,080		1,087
Other assets	623		589
Available-for-sale Securities Fair Value	4,698		4,593
Solvency capital	490		451
Equity Securities [Member]
Available-for-sale and held-to-maturity securities by balance sheet line item
Available-for-sale Securities Fair Value	$ 1,409		$ 1,388

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Investments (Details 5) (USD $) In Millions, unless otherwise specified	Mar. 29, 2013	Dec. 31, 2012
Investments [Abstracts]
Available-for-sale Securities, Debt Maturities, within One Year, Amortized Cost Basis	$ 1,166
Available-for-sale Securities, Debt Maturities, within One Year, Fair Value	1,171
Available-for-sale Securities, Debt Maturities, after One Through Five Years, Amortized Cost Basis	1,502
Available-for-sale Securities, Debt Maturities, after One Through Five Years, Fair Value	1,509
Available-for-sale Securities, Debt Maturities, after Five Through Ten Years, Amortized Cost Basis	263
Available-for-sale Securities, Debt Maturities, after Five Through Ten Years, Fair Value	291
Available-for-sale Securities, Debt Maturities, after Ten Years, Amortized Cost Basis	315
Available-for-sale Securities, Debt Maturities, after Ten Years, Fair Value	318
Available-for-sale Securities, Amortized Cost Basis	4,208	4,126
Cost Method Investments [Abstract]
Cost-method Investments, Aggregate Carrying Amount	147	145
Held-to-maturity securities, by type
Available-for-sale Securities Fair Value	4,698	4,593
Equity Securities [Member]
Investments [Abstracts]
Available-for-sale Securities, Amortized Cost Basis	962	957
Held-to-maturity securities, by type
Available-for-sale Securities Fair Value	$ 1,409	$ 1,388

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Inventories (Details) (USD $) In Millions, unless otherwise specified	Mar. 29, 2013	Dec. 31, 2012
Inventory balances
Raw materials and packaging	$ 1,899	$ 1,773
Finished goods	1,375	1,171
Other	333	320
Total inventories	$ 3,607	$ 3,264

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Hedging Transactions and Derivative Financial Instruments (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
Mar. 29, 2013	Dec. 31, 2012
Fair Value, Derivatives Designated and Not Designated as Hedges
Derivative instruments, assets, designated and qualified, part of hedging relationship, fair value	$ 628	$ 491
Derivative instruments, liabilities, designated and qualified, part of hedging relationship, fair value	54	62
Derivative instruments, assets, not designated and qualified, part of hedging relationship, fair value	234	139
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	92	71
Cash Flow Hedging Strategy
Maximum length of time over which future cash flow exposures are hedged (in years)	3
Notional value, derivatives designated and qualifying, foreign currency cash flow hedges	5,327	4,715
Notional value, derivatives designated and qualifying, commodity cash flow hedges	12	17
Notional Amount of Interest Rate Cash Flow Hedge Derivatives	2,215	1,764
Foreign currency contracts \| Prepaid expenses and other assets
Fair Value, Derivatives Designated and Not Designated as Hedges
Derivative instruments, assets, designated and qualified, part of hedging relationship, fair value	248	149
Derivative instruments, assets, not designated and qualified, part of hedging relationship, fair value	36	19
Foreign currency contracts \| Other Assets
Fair Value, Derivatives Designated and Not Designated as Hedges
Derivative instruments, assets, designated and qualified, part of hedging relationship, fair value	56	0
Derivative instruments, assets, not designated and qualified, part of hedging relationship, fair value	117	42
Foreign currency contracts \| Accounts payable and accrued expenses
Fair Value, Derivatives Designated and Not Designated as Hedges
Derivative instruments, liabilities, designated and qualified, part of hedging relationship, fair value	33	55
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	20	24
Foreign currency contracts \| Other Liabilities
Fair Value, Derivatives Designated and Not Designated as Hedges
Derivative instruments, liabilities, designated and qualified, part of hedging relationship, fair value	14	0
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	20	1
Commodity contracts \| Prepaid expenses and other assets
Fair Value, Derivatives Designated and Not Designated as Hedges
Derivative instruments, assets, designated and qualified, part of hedging relationship, fair value	1	0
Derivative instruments, assets, not designated and qualified, part of hedging relationship, fair value	71	72
Commodity contracts \| Accounts payable and accrued expenses
Fair Value, Derivatives Designated and Not Designated as Hedges
Derivative instruments, liabilities, designated and qualified, part of hedging relationship, fair value	0	1
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	50	43
Commodity contracts \| Other Liabilities
Fair Value, Derivatives Designated and Not Designated as Hedges
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	2	1
Interest Rate Contracts \| Prepaid expenses and other assets
Fair Value, Derivatives Designated and Not Designated as Hedges
Derivative instruments, assets, designated and qualified, part of hedging relationship, fair value	10	7
Interest Rate Contracts \| Other Assets
Fair Value, Derivatives Designated and Not Designated as Hedges
Derivative instruments, assets, designated and qualified, part of hedging relationship, fair value	313	335
Interest Rate Contracts \| Other Liabilities
Fair Value, Derivatives Designated and Not Designated as Hedges
Derivative instruments, liabilities, designated and qualified, part of hedging relationship, fair value	7	6
Other derivative instruments \| Prepaid expenses and other assets
Fair Value, Derivatives Designated and Not Designated as Hedges
Derivative instruments, assets, not designated and qualified, part of hedging relationship, fair value	10	6
Other derivative instruments \| Accounts payable and accrued expenses
Fair Value, Derivatives Designated and Not Designated as Hedges
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value	$ 0	$ 2

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Hedging Transactions and Derivative Financial Instruments (Details 2) (USD $) In Millions, unless otherwise specified	3 Months Ended						3 Months Ended
Mar. 29, 2013	Dec. 31, 2012	Mar. 29, 2013 Fixed-rate debt	Mar. 29, 2013 Interest Rate Swap [Member]	Dec. 31, 2012 Interest Rate Swap [Member]	Mar. 29, 2013 Available-for-sale Securities [Member]	Mar. 30, 2012 Available-for-sale Securities [Member]	Mar. 29, 2013 Cash Flow Hedges	Mar. 30, 2012 Cash Flow Hedges	Mar. 29, 2013 Cash Flow Hedges Foreign currency contracts Net operating revenues	Mar. 30, 2012 Cash Flow Hedges Foreign currency contracts Net operating revenues	Mar. 29, 2013 Cash Flow Hedges Foreign currency contracts Cost of goods sold	Mar. 30, 2012 Cash Flow Hedges Foreign currency contracts Cost of goods sold	Mar. 29, 2013 Cash Flow Hedges Interest Rate Contract [Member] Interest Expense [Member]	Mar. 30, 2012 Cash Flow Hedges Interest Rate Contract [Member] Interest Expense [Member]	Mar. 29, 2013 Cash Flow Hedges Commodity contracts Cost of goods sold	Mar. 30, 2012 Cash Flow Hedges Commodity contracts Cost of goods sold	Mar. 29, 2013 Fair Value Hedges	Mar. 30, 2012 Fair Value Hedges	Mar. 29, 2013 Fair Value Hedges Other income (loss) - net	Mar. 30, 2012 Fair Value Hedges Other income (loss) - net	Mar. 29, 2013 Fair Value Hedges Interest Expense [Member]	Mar. 30, 2012 Fair Value Hedges Interest Expense [Member]	Mar. 29, 2013 Fair Value Hedges Fixed-rate debt Interest Expense [Member]	Mar. 30, 2012 Fair Value Hedges Fixed-rate debt Interest Expense [Member]	Mar. 29, 2013 Fair Value Hedges Foreign currency contracts Other income (loss) - net	Mar. 30, 2012 Fair Value Hedges Foreign currency contracts Other income (loss) - net	Mar. 29, 2013 Fair Value Hedges Available-for-sale Securities [Member] Other income (loss) - net	Mar. 30, 2012 Fair Value Hedges Available-for-sale Securities [Member] Other income (loss) - net	Mar. 29, 2013 Fair Value Hedges Interest Rate Contract [Member] Interest Expense [Member]	Mar. 30, 2012 Fair Value Hedges Interest Rate Contract [Member] Interest Expense [Member]	Mar. 29, 2013 Net Investment Hedges Foreign currency contracts	Mar. 30, 2012 Net Investment Hedges Foreign currency contracts	Mar. 29, 2013 Derivatives Not Designated as Hedging Instruments	Mar. 30, 2012 Derivatives Not Designated as Hedging Instruments	Mar. 29, 2013 Derivatives Not Designated as Hedging Instruments Foreign currency contracts Net operating revenues	Mar. 30, 2012 Derivatives Not Designated as Hedging Instruments Foreign currency contracts Net operating revenues	Mar. 29, 2013 Derivatives Not Designated as Hedging Instruments Foreign currency contracts Other income (loss) - net	Mar. 30, 2012 Derivatives Not Designated as Hedging Instruments Foreign currency contracts Other income (loss) - net	Mar. 29, 2013 Derivatives Not Designated as Hedging Instruments Foreign currency contracts Cost of goods sold	Mar. 30, 2012 Derivatives Not Designated as Hedging Instruments Foreign currency contracts Cost of goods sold	Mar. 29, 2013 Derivatives Not Designated as Hedging Instruments Commodity contracts Cost of goods sold	Mar. 30, 2012 Derivatives Not Designated as Hedging Instruments Commodity contracts Cost of goods sold	Mar. 29, 2013 Derivatives Not Designated as Hedging Instruments Commodity contracts Selling, general and administrative expenses	Mar. 30, 2012 Derivatives Not Designated as Hedging Instruments Commodity contracts Selling, general and administrative expenses	Mar. 29, 2013 Derivatives Not Designated as Hedging Instruments Other derivative instruments Selling, general and administrative expenses	Mar. 30, 2012 Derivatives Not Designated as Hedging Instruments Other derivative instruments Selling, general and administrative expenses
Gains and (losses) related to derivative instruments
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net								$ 167	$ 24	$ 131	$ (1)	$ 21	$ 26	$ 13	$ 0	$ 2	$ (1)															$ (57)	$ (94)
Gain (Loss) Reclassified from AOCI into Income (Effective Portion)								18	(29)	19	(21)	2	(6)	(3)	(3)	0	1
Gain (Loss) Recognized in Income (Ineffective Portion and Amount Excluded from Effectiveness Testing)								0	1	0	1	0	0	0	0	0	0
Anticipated gains (losses) cash flows hedges, estimated reclassification to earnings during next twelve months	148
Increase (Decrease) in carrying value due to hedge adjustments			227
Notional value, derivatives designated and qualifying, fair value hedges				6,700	6,700
Derivative Instruments, Gain (Loss) Recognized in Income, Net																		4	19	(6)	1	10	18	45	39	10	40	(16)	(39)	(35)	(21)			14	144	(2)	(9)	67	112	(2)	0	(69)	6	0	19	20	16
Notional value, derivative instruments not designated and (or) not qualifying, economic hedges	3,888	3,865
Notional value, derivative instruments not designated and (or) not qualifying, commodity price risk hedges	1,524	1,084
Notional value, derivatives designated and qualifying, hedges of net investments in foreign operations	1,211	1,718
Notional Amount of Fair Value Hedge Instruments						$ 913	$ 850

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Debt and Borrowing Arrangements (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
Mar. 29, 2013
Long-term debt
Issuance of long term debt	$ 2,500
Total principal notes due March 5,2015
Long-term debt
Issuance of long term debt	500
Basis spread on variable rate used (as a percent)	(0.02%)
Total principal notes due April 1, 2018
Long-term debt
Issuance of long term debt	1,250
Fixed interest rate (as a percent)	1.15%
Total principal notes due April 1, 2023
Long-term debt
Issuance of long term debt	750
Fixed interest rate (as a percent)	2.50%
Total principal notes due August 15, 2013
Long-term debt
Fixed interest rate (as a percent)	5.00%
Extinguishment of long-term debt	225
Total principal notes due March 3, 2014
Long-term debt
Fixed interest rate (as a percent)	7.38%
Extinguishment of long-term debt	675
Total principal notes due March 1, 2015
Long-term debt
Fixed interest rate (as a percent)	4.25%
Extinguishment of long-term debt	$ 354

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Commitments and Contingencies (Details) (USD $) In Millions, unless otherwise specified	Mar. 29, 2013 Guarantees of indebtedness owed by third parties	Mar. 29, 2013 Pending Litigation [Member]	Dec. 31, 1981 Pending Litigation [Member]	Mar. 29, 2013 Risk Management Programs	Dec. 31, 2012 Risk Management Programs
Guarantees
Guarantees of indebtedness owed by third parties	$ 632
VIEs maximum exposures to loss	294
Legal Contingencies
Insurance coverage insuring prior and future costs for certain product liability and other claims			400
Number of pending active claims' lawsuit		40,000
Approximate amount of out-of-pocket litigation-related expenses demanded as reimbursement by plaintiff		10
Number of plaintiff insurance companies filing declaratory judgment action against Aqua-Chem, the Company, and defendant insurance companies		5
Number of insurance companies included as defendants in declaratory judgment requested by plaintiff		16
Wisconsin trial court final declaratory judgment of each individual insurer's joint and several liability percentage of plaintiff's losses up to policy limits (as a percent)		100.00%
Period for which defense and indemnity costs are in the same range (in years)		5
Low end of the range (in years) the Company believes that there will likely be little or no defense or indemnity costs that will not be covered by insurance		10
High end of the range (in years) the Company believes that there will likely be little or no defense or indemnity costs that will not be covered by insurance		15
Risk Management Programs
Self-insurance reserves				$ 514	$ 508

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Comprehensive Income (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
Mar. 29, 2013	Mar. 30, 2012
Comprehensive Income Disclosure
Consolidated net income	$ 1,769	$ 2,067
Other comprehensive income:
Net foreign currency translation adjustment	70	930
Net gain (loss) on derivatives	87	31
Net unrealized gain (loss) on available-for-sale securities	8	100
Net change in pension and other benefit liabilities	32	(11)
TOTAL COMPREHENSIVE INCOME	1,966	3,117
Foreign currency translation adjustments:
Translation adjustment arising during the period	325
Reclassification adjustments recognized in net income	(218)
Net foreign currency translation adjustments	107	900
Derivatives:
Unrealized gains (losses) arising during the period	162	22
Reclassification adjustments recognized in net income	(18)	29
Net gain (loss) on derivatives	144	51
Available-for-sale securities:
Unrealized gains (losses) arising during the period	5	155
Reclassification adjustments recognized in net income	0	2
Net change in unrealized gain (loss) on available-for-sale securities	5	157
Pension and other benefits liabilities:
Net pension and other benefits arising during the period	7	(24)
Reclassification adjustments recognized in net income	48	22
Net change in pension and other benefitis liabilities	55	(2)
Other Comprehensive Income (Loss) attributable to The Coca-Cola Company	311	1,106
Foreign currency translation adjustments:
Translation adjustment arising during the period	(60)
Reclassification adjustments recognized in net income	0
Net foreign currency translation adjustments	(60)	(21)
Derivatives:
Unrealized gains (losses) arising during the period	(64)	(9)
Reclassification adjustments recognized in net income	7	(11)
Net gain (loss) on derivatives	(57)	(20)
Available-for-sales securities:
Unrealized gains (losses) arising during the period	3	(57)
Reclassification adjustments recognized in net income	0	0
Net change in unrealized gain (loss) on available-for-sale securities	3	(57)
Pension and other benefits liabilities:
Net pension and other benefits arising during the period	(5)	(1)
Reclassification adjustments recognized in net income	(18)	(8)
Net change in pension and other benefits liabilities	(23)	(9)
Other comprehensive income (loss) attributable to The Coca-Cola Company	(137)	(107)
Foreign currency translation adjustments:
Translation adjustment arising during the period	265
Reclassification adjustments recognized in net income	(218)
Net foreign currency translation adjustment	47	879
Derivatives:
Unrealized gains (losses) arising during the period	98	13
Reclassification adjustments recognized in net income	(11)	18
Net gain (loss) on derivatives	87	31
Available-for-sale securities:
Unrealized gains (losses) arising during the period	8	98
Reclassification adjustments recognized in net income	0	2
Net unrealized gain (loss) on available-for-sale securities	8	100
Pension and other benefit liabilities:
Net pension and other benefits arising during the period	2	(25)
Reclassification adjustments recognized in net income	30	14
Net change in pension and other benefit liabilities	32	(11)
Other comprehensive income (loss) attributable to The Coca-Cola Company	174	999
OTHER COMPREHENSIVE INCOME [Abstract]
Amortization of prior period service costs	(4)
Disposal of bottling operation [Member] \| Other income (loss) - net
Foreign currency translation adjustments:
Reclassification adjustments recognized in net income	(218)
Foreign currency contracts \| Net operating revenues
Derivatives:
Reclassification adjustments recognized in net income	(19)
Foreign currency contracts \| Cost of goods sold
Derivatives:
Reclassification adjustments recognized in net income	(2)
Interest Rate Contract [Member] \| Interest Expense [Member]
Derivatives:
Reclassification adjustments recognized in net income	3
Insignificant items [Member] \| Other income (loss) - net
Pension and other benefits liabilities:
Reclassification adjustments recognized in net income	(1)
Amortization of net actuarial loss
Pension and other benefits liabilities:
Reclassification adjustments recognized in net income	53
Shareowners of The Coca-Cola Company
Comprehensive Income Disclosure
Consolidated net income	1,751
Other comprehensive income:
Net foreign currency translation adjustment	47
Net gain (loss) on derivatives	87
Net unrealized gain (loss) on available-for-sale securities	8
Net change in pension and other benefit liabilities	32
TOTAL COMPREHENSIVE INCOME	1,925
Noncontrolling Interests
Comprehensive Income Disclosure
Consolidated net income	18
Other comprehensive income:
Net foreign currency translation adjustment	23
Net gain (loss) on derivatives	0
Net unrealized gain (loss) on available-for-sale securities	0
Net change in pension and other benefit liabilities	0
TOTAL COMPREHENSIVE INCOME	41
Total [Member]
Comprehensive Income Disclosure
Consolidated net income	1,769
Other comprehensive income:
Net foreign currency translation adjustment	70
Net gain (loss) on derivatives	87
Net unrealized gain (loss) on available-for-sale securities	8
Net change in pension and other benefit liabilities	32
TOTAL COMPREHENSIVE INCOME	$ 1,966

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Changes in Equity (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
Mar. 29, 2013	Mar. 30, 2012
Changes in Equity
December 31, 2012	$ 33,168
Comprehensive income (loss)	1,966	3,117
Dividends paid / payable to shareowners of The Coca-Cola Company	(1,247)
Business Combinations	2
Deconsolidation of certain entities	(7)
Purchases of treasury stock	(1,513)
Impact of employee stock option and restricted stock plans	525
March 29, 2013	32,894
Reinvested Earnings
Changes in Equity
December 31, 2012	58,045
Comprehensive income (loss)	1,751
Dividends paid / payable to shareowners of The Coca-Cola Company	(1,247)
Business Combinations	0
Deconsolidation of certain entities	0
Purchases of treasury stock	0
Impact of employee stock option and restricted stock plans	0
March 29, 2013	58,549
Accumulated Other Comprehensive Income (Loss)
Changes in Equity
December 31, 2012	(3,385)
Comprehensive income (loss)	174
Dividends paid / payable to shareowners of The Coca-Cola Company	0
Business Combinations	0
Deconsolidation of certain entities	0
Purchases of treasury stock	0
Impact of employee stock option and restricted stock plans	0
March 29, 2013	(3,211)
Common Stock [Member]
Changes in Equity
December 31, 2012	1,760
Comprehensive income (loss)	0
Dividends paid / payable to shareowners of The Coca-Cola Company	0
Business Combinations	0
Deconsolidation of certain entities	0
Purchases of treasury stock	0
Impact of employee stock option and restricted stock plans	0
March 29, 2013	1,760
Capital Surplus
Changes in Equity
December 31, 2012	11,379
Comprehensive income (loss)	0
Dividends paid / payable to shareowners of The Coca-Cola Company	0
Business Combinations	0
Deconsolidation of certain entities	0
Purchases of treasury stock	0
Impact of employee stock option and restricted stock plans	285
March 29, 2013	11,664
Treasury Stock
Changes in Equity
December 31, 2012	(35,009)
Comprehensive income (loss)	0
Dividends paid / payable to shareowners of The Coca-Cola Company	0
Business Combinations	0
Deconsolidation of certain entities	0
Purchases of treasury stock	(1,513)
Impact of employee stock option and restricted stock plans	240
March 29, 2013	(36,282)
Noncontrolling Interests
Changes in Equity
December 31, 2012	378
Comprehensive income (loss)	41
Dividends paid / payable to shareowners of The Coca-Cola Company	0
Business Combinations	2
Deconsolidation of certain entities	(7)
Purchases of treasury stock	0
Impact of employee stock option and restricted stock plans	0
March 29, 2013	$ 414

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Significant Operating and Nonoperating Items (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
Mar. 29, 2013	Mar. 30, 2012
Other Operating Items
Unusual or infrequent events charges	$ 176
Other Operating Charges
Other operating charges	121	99
Equity Income (Loss) - Net
Our proportionate share of unusual or infrequent items recorded by equity method investees	39	(44)
Corporate
Other Operating Charges
Productivity, integration and restructuring initiatives	10	3
Restructuring charges other than productivity and productivity and reinvestments initiatives [Member]
Other Operating Charges
Productivity, integration and restructuring initiatives	21	15
Productivity and Reinvestment [Member]
Other Operating Charges
Productivity, integration and restructuring initiatives	102	64
Productivity initiatives [Member]
Other Operating Charges
Productivity, integration and restructuring initiatives		(1)
License Agreement with Nestle [Member]
Other Operating Charges
Other operating charges		20
Brazil Juice Expenses [Member]
Other Operating Items
Unusual or infrequent events charges		6
Brazil Juice Expenses [Member] \| Cost of goods sold
Other Operating Items
Unusual or infrequent events charges		5
Brazil Juice Expenses [Member] \| Other operating charges [Member]
Other Operating Items
Unusual or infrequent events charges		1
BPW Nestle Joint Venture [Member]
Equity Income (Loss) - Net
Our proportionate share of unusual or infrequent items recorded by equity method investees		3
BPW Nestle Joint Venture [Member] \| Corporate
Equity Income (Loss) - Net
Our proportionate share of unusual or infrequent items recorded by equity method investees		3
Venezuelan subsidiary \| Corporate
Other Income (Loss) - Net
Remeasurement Charges on Subsidiary Assets	$ 140

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Productivity, Integration and Restructuring Initiatives (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended	12 Months Ended	3 Months Ended
Mar. 29, 2013 Productivity and Reinvestment [Member]	Mar. 30, 2012 Productivity and Reinvestment [Member]	Mar. 29, 2013 Integration of German Bottling and Distribution Operation [Member]	Dec. 31, 2008 Integration of German Bottling and Distribution Operation [Member]	Mar. 29, 2013 Severance pay and benefits Productivity and Reinvestment [Member]	Mar. 29, 2013 Outside services Productivity and Reinvestment [Member]	Mar. 29, 2013 Other direct costs [Member] Productivity and Reinvestment [Member]
Productivity, Integration and Restructuring Initiatives Disclosures
Accrued Balance, Beginning Balance	$ 26		$ 96		$ 12	$ 6	$ 8
Cost incurred	102	64	20		45	23	34
Payments	(65)				(7)	(26)	(32)
Noncash and exchange	0				0	0	0
Accrued Balance, Ending Balance	63		102		50	3	10
Restructuring and related costs incurred to date	$ 372		$ 460
Number of German bottling and distribution operations for which integration initiatives began in 2008				18

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Pension and Other Postretirement Benefit Plans (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
Mar. 29, 2013	Mar. 30, 2012
Net periodic pension and other Postretirement benefit cost
Contributions to pension plan	$ 558	$ 936
Pension plans, anticipated additional contributions for remainder of current fiscal year	82
Pension Benefits
Net periodic pension and other Postretirement benefit cost
Service cost	69	65
Interest cost	94	98
Expected return on plan assets	(164)	(144)
Amortization of prior service cost (credit)	(1)	(1)
Amortization of net actuarial loss	50	34
Net periodic benefit cost (credit)	48	52
Other Benefits
Net periodic pension and other Postretirement benefit cost
Service cost	9	8
Interest cost	11	11
Expected return on plan assets	(2)	(2)
Amortization of prior service cost (credit)	(3)	(13)
Amortization of net actuarial loss	3	2
Net periodic benefit cost (credit)	$ 18	$ 6

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Income Taxes (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
Mar. 29, 2013	Mar. 30, 2012
Income taxes
U.S. statutory rate (as a percent)	35.00%
Effective tax rate estimated for 2013 (as a percent)	23.50%
Income tax expense	$ 575	$ 658
Effective tax rate (as a percent)	24.60%	24.10%
Tax expense (benefit) associated with unusual and/or infrequent items for the interim periods presented
Productivity and reinvestment program	(40)	(24)
Other productivity, integration and restructuring initiatives	0	0
Certain tax matters	1	(8)
Other - net	4	(7)
Unusual and/or infrequent items [Abstract]
Other Charges	176
Remeasurement and Translation loss due to currency devaluation	149
Other operating charges	121	99
Other infrequent or unusual charges net		(15)
Our proportionate share of unusual or infrequent items recorded by equity method investees	39	(44)
Productivity and Reinvestment [Member]
Unusual and/or infrequent items [Abstract]
Productivity, integration and restructuring initiatives	102	64
Restructuring Charges except for Productivity and Reinvestment Program [Member]
Unusual and/or infrequent items [Abstract]
Productivity, integration and restructuring initiatives	21
License Agreement with Nestle [Member]
Unusual and/or infrequent items [Abstract]
Other operating charges		20
BPW Nestle Joint Venture [Member]
Unusual and/or infrequent items [Abstract]
Our proportionate share of unusual or infrequent items recorded by equity method investees		3
Brazil Juice Expenses [Member]
Unusual and/or infrequent items [Abstract]
Other Charges		6
Bottling investments [Member]
Unusual and/or infrequent items [Abstract]
Productivity, integration and restructuring initiatives	21	15
Our proportionate share of unusual or infrequent items recorded by equity method investees	$ 30	$ (44)

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Fair Value Measurements (Details) (USD $) In Millions, unless otherwise specified	Mar. 29, 2013	Dec. 31, 2012
Assets and liabilities measured at fair value on a recurring basis
Available-for-sale securities	$ 4,698	$ 4,593
Level 1
Assets and liabilities measured at fair value on a recurring basis
Trading Securities	126	146
Available-for-sale securities	1,409	1,390
Derivatives, assets	57	47
Total assets	1,592	1,583
Derivatives, liabilities	30	35
Total liabilities	30	35
Level 2
Assets and liabilities measured at fair value on a recurring basis
Trading Securities	151	116
Available-for-sale securities	3,159	3,068
Derivatives, assets	805	583
Total assets	4,115	3,767
Derivatives, liabilities	116	98
Total liabilities	116	98
Level 3
Assets and liabilities measured at fair value on a recurring basis
Trading Securities	3	4
Available-for-sale securities	130	135
Derivatives, assets	0	0
Total assets	133	139
Derivatives, liabilities	0	0
Total liabilities	0	0
Netting Adjustment
Assets and liabilities measured at fair value on a recurring basis
Trading Securities	0	0
Available-for-sale securities	0	0
Derivatives, assets	(106)	(116)
Total assets	(106)	(116)
Derivatives, liabilities	(108)	(121)
Total liabilities	(108)	(121)
Fair Value Measurements
Assets and liabilities measured at fair value on a recurring basis
Trading Securities	280	266
Available-for-sale securities	4,698	4,593
Derivatives, assets	756	514
Total assets	5,734	5,373
Derivatives, liabilities	38	12
Total liabilities	38	12
Fair Value Measurements \| Prepaid expenses and other assets
Assets and liabilities measured at fair value on a recurring basis
Derivatives, assets	270	137
Fair Value Measurements \| Other Assets
Assets and liabilities measured at fair value on a recurring basis
Derivatives, assets	486	377
Fair Value Measurements \| Accounts payable and accrued expenses
Assets and liabilities measured at fair value on a recurring basis
Derivatives, liabilities	14	4
Fair Value Measurements \| Other Liabilities
Assets and liabilities measured at fair value on a recurring basis
Derivatives, liabilities	$ 24	$ 8

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Fair Value Measurements (Details 3) (USD $) In Millions, unless otherwise specified	Mar. 29, 2013	Dec. 31, 2012
Other fair value disclosures
Long-term debt, including the current portion, carrying amount	$ 18,796	$ 16,313
Long-term debt, including the current portion, fair value	$ 19,581	$ 17,157

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Operating Segments (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
Mar. 29, 2013	Mar. 30, 2012	Dec. 31, 2012
Net operating revenues:
Third party	$ 11,035	$ 11,137
Intersegment	0	0
Total net revenues	11,035	11,137
Operating Income (Loss)	2,408	2,509
Income (loss) before income taxes	2,344	2,725
Identifiable operating assets	77,373	74,986	75,726
Noncurrent investments	11,077	8,911	10,448
Unusual or infrequent events charges	176
Our proportionate share of unusual or infrequent items recorded by equity method investees	39	(44)
Other operating charges	121	99
License Agreement with Nestle [Member]
Net operating revenues:
Other operating charges		20
Brazil Juice Expenses [Member]
Net operating revenues:
Unusual or infrequent events charges		6
BPW Nestle Joint Venture [Member]
Net operating revenues:
Our proportionate share of unusual or infrequent items recorded by equity method investees		3
Eurasia and Africa
Net operating revenues:
Third party	669	615
Intersegment	0	0
Total net revenues	669	615
Operating Income (Loss)	282	266
Income (loss) before income taxes	289	266
Identifiable operating assets	1,366	1,304	1,299
Noncurrent investments	1,172	304	1,155
Productivity, integration and restructuring initiatives	2
Europe
Net operating revenues:
Third party	1,020	1,054
Intersegment	157	150
Total net revenues	1,177	1,204
Operating Income (Loss)	683	695
Income (loss) before income taxes	694	708
Identifiable operating assets	3,160	3,276	2,976
Noncurrent investments	278	251	271
Other operating charges		(1)
Latin America
Net operating revenues:
Third party	1,157	1,127
Intersegment	71	59
Total net revenues	1,228	1,186
Operating Income (Loss)	763	744
Income (loss) before income taxes	764	743
Identifiable operating assets	2,734	2,667	2,759
Noncurrent investments	567	535	539
North America
Net operating revenues:
Third party	4,883	4,917
Intersegment	4	4
Total net revenues	4,887	4,921
Operating Income (Loss)	341	451
Income (loss) before income taxes	342	467
Identifiable operating assets	34,591	33,932	34,114
Noncurrent investments	38	22	39
Productivity, integration and restructuring initiatives	82	61
North America \| License Agreement with Nestle [Member]
Net operating revenues:
Other operating charges		20
North America \| Brazil Juice Expenses [Member]
Net operating revenues:
Unusual or infrequent events charges		6
Pacific
Net operating revenues:
Third party	1,244	1,310
Intersegment	146	138
Total net revenues	1,390	1,448
Operating Income (Loss)	602	602
Income (loss) before income taxes	604	601
Identifiable operating assets	2,193	2,103	2,163
Noncurrent investments	128	132	127
Productivity, integration and restructuring initiatives	8
Bottling investments [Member]
Net operating revenues:
Third party	2,018	2,084
Intersegment	20	19
Total net revenues	2,038	2,103
Operating Income (Loss)	39	35
Income (loss) before income taxes	109	169
Identifiable operating assets	8,224	9,439	9,648
Noncurrent investments	8,828	7,593	8,253
Productivity, integration and restructuring initiatives	21	15
Our proportionate share of unusual or infrequent items recorded by equity method investees	30	(44)
Bottling investments [Member] \| Venezuelan subsidiary
Net operating revenues:
Our proportionate share of unusual or infrequent items recorded by equity method investees	9
Corporate
Net operating revenues:
Third party	44	30
Intersegment	0	0
Total net revenues	44	30
Operating Income (Loss)	(302)	(284)
Income (loss) before income taxes	(458)	(229)
Identifiable operating assets	25,105	22,265	22,767
Noncurrent investments	66	74	64
Productivity, integration and restructuring initiatives	10	3
Corporate \| Venezuelan subsidiary
Net operating revenues:
Remeasurement Charges on Subsidiary Assets	140
Corporate \| BPW Nestle Joint Venture [Member]
Net operating revenues:
Our proportionate share of unusual or infrequent items recorded by equity method investees		3
Eliminations
Net operating revenues:
Third party	0	0
Intersegment	(398)	(370)
Total net revenues	(398)	(370)
Operating Income (Loss)	0	0
Income (loss) before income taxes	0	0
Identifiable operating assets	0	0	0
Noncurrent investments	$ 0	$ 0	$ 0

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