OTHER COMPREHENSIVE INCOME

12 Months Ended

Dec. 31, 2025

AOCI attributable to shareowners of The Coca-Cola Company is separately presented in our consolidated balance sheet as a component of The Coca-Cola Company’s shareowners’ equity, which also includes our proportionate share of equity method investees’ AOCI. OCI attributable to noncontrolling interests is allocated to, and included in, our consolidated balance sheet as part of the line item equity attributable to noncontrolling interests.

AOCI attributable to shareowners of The Coca-Cola Company consisted of the following, net of tax (in millions):


December 31,	2025		2024
Net foreign currency translation adjustments	$	(12,673)	$	(15,610)
Accumulated net gains (losses) on derivatives	(244)		116
Unrealized net gains (losses) on available-for-sale debt securities	(26)		(64)
Adjustments to pension and other postretirement benefit liabilities	(1,188)		(1,285)
Accumulated other comprehensive income (loss)	$	(14,131)	$	(16,843)

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


	Year Ended December 31, 2025
	Shareowners of The Coca-Cola Company		Noncontrolling Interests		Total
Consolidated net income	$	13,107	$	30	$	13,137
Other comprehensive income:
Net foreign currency translation adjustments1	2,937		(69)		2,868
Net gains (losses) on derivatives2	(360)		—		(360)
Net change in unrealized gains (losses) on available-for-sale debt securities3	38		—		38
Net change in pension and other postretirement benefit liabilities4	97		(3)		94
Total comprehensive income	$	15,819	$	(42)	$	15,777

1Includes reclassification of $226 million of foreign currency translation adjustments from shareowners of The Coca-Cola Company to noncontrolling interests related to our bottling operations in India. Refer to Note 1.

2Refer to Note 5 for additional information related to the net gains or losses on derivative instruments.

3Refer to Note 4 for additional information related to the net unrealized gains or losses on available-for-sale debt securities.

4Refer to Note 14 for additional information related to the Company’s pension and other postretirement benefit liabilities.

The following tables present OCI attributable to shareowners of The Coca-Cola Company, including our proportionate share of equity method investees’ OCI (in millions):


	Before-Tax Amount		Income Tax		After-Tax Amount
2025
Foreign currency translation adjustments:
Translation adjustments arising during the year	$	786	$	(209)	$	577
Reclassification adjustments recognized in net income	506		(2)		504
Gains (losses) on intra-entity transactions that are of a long-term investment nature	2,966		—		2,966
Gains (losses) on net investment hedges arising during the year1	(1,770)		434		(1,336)
Reclassification to noncontrolling interests2	226		—		226
Net foreign currency translation adjustments	$	2,714	$	223	$	2,937
Derivatives:
Gains (losses) arising during the year	$	(666)	$	167	$	(499)
Reclassification adjustments recognized in net income	183		(44)		139
Net gains (losses) on derivatives1	$	(483)	$	123	$	(360)
Available-for-sale debt securities:
Unrealized gains (losses) arising during the year	$	53	$	(17)	$	36
Reclassification adjustments recognized in net income	2		—		2
Net change in unrealized gains (losses) on available-for-sale debt securities3	$	55	$	(17)	$	38
Pension and other postretirement benefit liabilities:
Net pension and other postretirement benefit liabilities arising during the year	$	36	$	(21)	$	15
Reclassification adjustments recognized in net income	106		(24)		82
Net change in pension and other postretirement benefit liabilities4	$	142	$	(45)	$	97
Other comprehensive income (loss) attributable to shareowners of The Coca-Cola Company	$	2,428	$	284	$	2,712


2024
Foreign currency translation adjustments:
Translation adjustments arising during the year	$	(2,427)	$	263	$	(2,164)
Reclassification adjustments recognized in net income	103		—		103
Gains (losses) on intra-entity transactions that are of a long-term investment nature	(1,455)		—		(1,455)
Gains (losses) on net investment hedges arising during the year1	844		(212)		632

Net foreign currency translation adjustments	$	(2,935)	$	51	$	(2,884)
Derivatives:
Gains (losses) arising during the year	$	405	$	(98)	$	307
Reclassification adjustments recognized in net income	(50)		13		(37)
Net gains (losses) on derivatives1	$	355	$	(85)	$	270
Available-for-sale debt securities:
Unrealized gains (losses) arising during the year	$	(93)	$	31	$	(62)
Reclassification adjustments recognized in net income	(2)		1		(1)
Net change in unrealized gains (losses) on available-for-sale debt securities3	$	(95)	$	32	$	(63)
Pension and other postretirement benefit liabilities:
Net pension and other postretirement benefit liabilities arising during the year	$	83	$	(25)	$	58
Reclassification adjustments recognized in net income	69		(18)		51
Net change in pension and other postretirement benefit liabilities4	$	152	$	(43)	$	109
Other comprehensive income (loss) attributable to shareowners of The Coca-Cola Company	$	(2,523)	$	(45)	$	(2,568)


	Before-Tax Amount		Income Tax		After-Tax Amount
2023
Foreign currency translation adjustments:
Translation adjustments arising during the year	$	366	$	(131)	$	235
Reclassification adjustments recognized in net income	223		—		223
Gains (losses) on intra-entity transactions that are of a long-term investment nature	712		—		712
Gains (losses) on net investment hedges arising during the year1	(382)		95		(287)

Net foreign currency translation adjustments	$	919	$	(36)	$	883
Derivatives:
Gains (losses) arising during the year	$	(194)	$	23	$	(171)
Reclassification adjustments recognized in net income	(10)		3		(7)
Net gains (losses) on derivatives1	$	(204)	$	26	$	(178)
Available-for-sale debt securities:
Unrealized gains (losses) arising during the year	$	28	$	(10)	$	18
Reclassification adjustments recognized in net income	7		(1)		6
Net change in unrealized gains (losses) on available-for-sale debt securities3	$	35	$	(11)	$	24
Pension and other postretirement benefit liabilities:
Net pension and other postretirement benefit liabilities arising during the year	$	(314)	$	80	$	(234)
Reclassification adjustments recognized in net income	157		(32)		125
Net change in pension and other postretirement benefit liabilities4	$	(157)	$	48	$	(109)
Other comprehensive income (loss) attributable to shareowners of The Coca-Cola Company	$	593	$	27	$	620

1Refer to Note 5 for additional information related to the net gains or losses on derivative instruments.

2Refer to Note 1 for additional information related to the noncontrolling interest in our bottling operations in India.

3Refer to Note 4 for additional information related to the net unrealized gains or losses on available-for-sale debt securities.

4Refer to Note 14 for additional information related to the Company’s pension and other postretirement benefit liabilities.

The following table presents the reclassifications from AOCI into income recorded during the year ended December 31, 2025 (in millions):


Description of AOCI Component	Financial Statement Line Item Impacted	Amount Reclassified from AOCI
Foreign currency translation adjustments:
Divestitures1,2	Other income (loss) — net	$	506
	Income before income taxes	506
	Income taxes	(2)
	Consolidated net income	$	504
Derivatives:
Foreign currency contracts	Net operating revenues	$	247
Foreign currency and commodity contracts	Cost of goods sold	(1)
Foreign currency and interest rate contracts	Interest expense	7
Foreign currency contracts	Other income (loss) — net	(70)

	Income before income taxes	183
	Income taxes	(44)
	Consolidated net income	$	139
Available-for-sale debt securities:

Sale of debt securities	Other income (loss) — net	$	2
	Income before income taxes	2
	Income taxes	—
	Consolidated net income	$	2
Pension and other postretirement benefit liabilities:
Divestitures1	Other income (loss) — net	$	(2)
Settlement loss (gain)	Other income (loss) — net	(3)
Curtailment loss (gain)	Other income (loss) — net	11
Amortization of net actuarial loss (gain)	Other income (loss) — net	101
Amortization of prior service cost (credit)	Other income (loss) — net	(1)

	Income before income taxes	106
	Income taxes	(24)
	Consolidated net income	$	82

1Related to the sale of a portion of our ownership interest in CCEP. Refer to Note 2.

2Related primarily to the sale of our finished product operations in Nigeria. Refer to Note 2