Equity

9 Months Ended

Sep. 29, 2012

Equity [Abstract]

Equity [Text Block]

Note 4 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, and to a lesser extent, certain contingently issuable performance shares. Basic earnings per share is reconciled to diluted earnings per share in the following table. The total number of anti-dilutive potential common shares excluded from the reconciliation were 16 million and 17 million for the quarter and year-to-date periods ended September 29, 2012, respectively, and 5 million and 4 million for the quarter and year-to-date periods endedOctober 1, 2011.

Quarters ended September 29, 2012 and October 1, 2011:
			Net income	Average
			attributable to	shares		Earnings
(millions, except per share data)			Kellogg Company	outstanding		per share
2012
	Basic	$	296	358	$	0.83
	Dilutive potential common shares			1		(0.01)
	Diluted	$	296	359	$	0.82
2011
	Basic	$	290	360	$	0.81
	Dilutive potential common shares			3		(0.01)
	Diluted	$	290	363	$	0.80

Year-to-date period ended September 29, 2012 and October 1, 2011:
			Net income	Average
			attributable to	shares		Earnings
(millions, except per share data)			Kellogg Company	outstanding		per share
2012
	Basic	$	955	357	$	2.67
	Dilutive potential common shares			2		(0.01)
	Diluted	$	955	359	$	2.66
2011
	Basic	$	999	363	$	2.75
	Dilutive potential common shares			2		(0.02)
	Diluted	$	999	365	$	2.73

On April 23, 2010, the Company's board of directors authorized a $2.5 billion three-year share repurchase program for 2010 through 2012. During the year-to-date period ended September 29, 2012, the Company repurchased slightly more than 1 million shares of common stock for a total of $63 million. No common stock was repurchased during the third quarter of 2012. During the year-to-date period ended October 1, 2011, the Company repurchased approximately 13 million shares of common stock for a total of $688 million.

Comprehensive income

The Consolidated Statement of 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 periods presented consists of foreign currency translation adjustments, fair value adjustments associated with cash flow and net investment hedges and adjustments for net experience losses and prior service cost related to employee benefit plans.

Accumulated other comprehensive income (loss) as of September 29, 2012 and December 31, 2011 consisted of the following:
			September 29,		December 31,
(millions)			2012		2011
Foreign currency translation adjustments		$	(819)	$	(896)
Cash flow hedges — unrealized net gain (loss)			(7)		(9)
Postretirement and postemployment benefits:
	Net experience loss		(1,432)		(1,483)
	Prior service cost		(65)		(70)
Total accumulated other comprehensive income (loss)		$	(2,323)	$	(2,458)