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Equity
 12 Months Ended
Dec. 28, 2019
Equity [Abstract]  
Equity
EQUITY
Earnings per share
Basic earnings per share is determined by dividing net income attributable to Kellogg Company by the weighted average number of common shares outstanding during the period. Diluted earnings per share is similarly determined, except that the denominator is increased to include the number of additional common shares that would have been outstanding if all dilutive potential common shares had been issued. Dilutive potential common shares consist principally of employee stock options issued by the Company, restricted stock units, and to a lesser extent, certain contingently issuable performance shares. The total number of anti-dilutive potential common shares excluded from the reconciliation for each period was (shares in millions): 2019-14.0; 2018-6.5; 2017-4.9.
Stock transactions
The Company issues shares to employees and directors under various equity-based compensation and stock purchase programs, as further discussed in Note 9. The number of shares issued and outstanding during the periods presented was (shares in millions): 2019–15; 2018–8; 2017–7. The Company issued shares totaling less than one million in each of the years presented under Kellogg Direct™, a direct stock purchase and dividend reinvestment plan for U.S. shareholders.
In December 2017, the board of directors approved an authorization to repurchase up to $1.5 billion of the Company's common stock beginning in 2018 through December 2019. In February 2020, the board of directors approved a new authorization to repurchase up to $1.5 billion of the Company's common stock through December 2022.
During 2019, the Company repurchased 4 million shares of common stock for a total of $220 million . During 2018, the Company repurchased 5 million shares of common stock for a total of $320 million. During 2017, the Company repurchased 7 million shares of common stock at a total cost of $516 million.
Comprehensive income
Comprehensive income includes net income and all other changes in equity during a period except those resulting from investments by or distributions to shareholders. Other comprehensive income for all years presented consists of foreign currency translation adjustments, fair value adjustments associated with cash flow hedges and adjustments for net experience gains (losses) and prior service credit (cost) related to employee benefit plans. During the years ended December 28, 2019 and December 30, 2017, the Company modified assumptions for a U.S. postemployment benefit plan. As a result, a net experience gain (loss) was recognized in other comprehensive income with an offsetting reduction in the accumulated postemployment benefit obligation. See Note 10 and Note 11 for further details.

2019
2018
2017

Pre-tax
Tax (expense)
After-tax
Pre-tax
Tax (expense)
After-tax
Pre-tax
Tax (expense)
After-tax

amount
benefit
amount
amount
benefit
amount
amount
benefit
amount
Net income


$
977



$
1,344



$
1,254

Other comprehensive income:










     Foreign currency translation adjustments
$
100

$
(19
)
81

$
5

$
(53
)
$
(48
)
$
(34
)
113

79

     Cash flow hedges:









          Unrealized gain (loss) on cash flow hedges
5

(1
)
4

3

(1
)
2

—

—

—

          Reclassification to net income
4

(1
)
3

8

(2
)
6

9

(3
)
6

Postretirement and postemployment benefits:









          Amounts arising during the period:









               Net experience gain (loss)
(16
)
5

(11
)
(8
)
1

(7
)
44

(12
)
32

               Prior service credit (cost)
3

(1
)
2

1

—

1

—

—

—

          Reclassification to net income:









               Net experience (gain) loss
(5
)
1

(4
)
(5
)
1

(4
)
—

—

—

               Prior service (credit) cost
(1
)
—

(1
)
—

—

—

1

—

1

Available-for-sale securities:
 
 
 
 
 
 
 
 
 
Unrealized gain (loss)
4

—

4

—

—

—

—

—

—

Reclassification to net income
(4
)
—

(4
)
—

—

—

—

—

—

Other comprehensive income (loss)
$
90

$
(16
)
$
74

$
4

$
(54
)
$
(50
)
$
20

$
98

$
118

Comprehensive income


$
1,051



$
1,294



$
1,372

Net income (loss) attributable to noncontrolling interests


17



8



—

Other comprehensive income (loss) attributable to noncontrolling interests


—



(7
)


—

Comprehensive income attributable to Kellogg Company


$
1,034



$
1,293



$
1,372



Reclassifications from Accumulated Other Comprehensive Income (AOCI) for the year ended December 28, 2019 and December 29, 2018, consisted of the following:
Details about AOCI
Components
 
Amount
reclassified
from AOCI
 
Line item impacted
within Income
Statement
(millions)
 
2019
 
2018
 
2017
 
  
(Gains) and losses on cash flow hedges:
 
 
 
 
 
 
 
 
Foreign currency exchange contracts
 
$
—

 
$
—

 
$
(1
)
 
COGS
Interest rate contracts
 
4

 
8

 
10

 
Interest expense
 
 
$
4

 
$
8

 
$
9

 
Total before tax
 
 
(1
)
 
(2
)
 
(3
)
 
Tax expense (benefit)
 
 
$
3

 
$
6

 
$
6

 
Net of tax
Amortization of postretirement and postemployment benefits:
 
 
 
 
 
 
 
 
Net experience (gains)
 
$
(5
)
 
$
(5
)
 
$
—

 
OIE
Prior service (credit) cost
 
(1
)
 
—

 
1

 
OIE
 
 
$
(6
)
 
$
(5
)
 
$
1

 
Total before tax
 
 
1

 
1

 
—

 
Tax expense (benefit)
 
 
$
(5
)
 
$
(4
)
 
$
1

 
Net of tax
(Gains) losses on available-for-sale securities
 
 
 
 
 
 
 
 
Corporate bonds
 
$
(4
)
 
$
—

 
$
—

 
OIE
 
 
$
(4
)
 
$
—

 
$
—

 
Total before tax
 
 
—

 
—

 
—

 
Tax expense (benefit)
 
 
$
(4
)
 
$
—

 
$
—

 
Net of tax
Total reclassifications
 
$
(6
)
 
$
2

 
$
7

 
Net of tax

Accumulated other comprehensive income (loss) as of December 28, 2019 and December 29, 2018 consisted of the following:
(millions)
 
December 28, 2019
 
December 29,
2018
Foreign currency translation adjustments
 
$
(1,399
)
 
$
(1,467
)
Cash flow hedges — unrealized net gain (loss)
 
(60
)
 
(53
)
Postretirement and postemployment benefits:
 
 
 
 
Net experience gain (loss)
 
7

 
23

Prior service credit (cost)
 
4

 
(3
)
Total accumulated other comprehensive income (loss)
 
$
(1,448
)
 
$
(1,500
)