Equity

3 Months Ended

Mar. 30, 2013

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 3 million and 12 million for the quartersended March 30, 2013and March 31, 2012, respectively.

Quarters ended March 30, 2013 and March 31, 2012:
			Net income	Average
			attributable to	shares		Earnings
(millions, except per share data)			Kellogg Company	outstanding		per share
2013
	Basic	$	311	363	$	0.86
	Dilutive potential common shares			3		(0.01)
	Diluted	$	311	366	$	0.85
2012
	Basic	$	351	357	$	0.98
	Dilutive potential common shares			2		―
	Diluted	$	351	359	$	0.98

In December 2012, the Company's board of directors approved a $300 million share repurchase program for 2013, which was superseded in April 2013 by an authorization to repurchase shares up to $1 billion through April 2014. During the quarter ended March 30, 2013, the Company repurchased approximately0.7 million shares of common stock for a total of $44 million. During the quarter ended March 31, 2012, the Company repurchased approximately 1.3 million shares of common stock for a total of $63 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 consists of foreign currency translation adjustments, fair value adjustments associated with cash flowhedges and adjustments for net experience losses and prior service cost related to employee benefit plans.

				Quarter ended March 30, 2013
					Pre-tax		Tax (expense)		After-tax
(millions)					amount		or benefit		amount
Net income								$	311
Other comprehensive income (loss):
	Foreign currency translation adjustments			$	(28)	$	-		(28)
	Cash flow hedges:
			Unrealized gain (loss) on cash flow hedges		11		(3)		8
			Reclassification to net earnings		-		-		-
	Postretirement and postemployment benefits:
		Reclassification to net income:
			Net experience loss		2		-		2
			Prior service cost		3		(1)		2
Other comprehensive income (loss)				$	(12)	$	(4)		(16)
Comprehensive income								$	295

Reclassifications out of AOCI for the quarter ended March 30, 2013 consisted of the following:
(millions)
Details about AOCI	Amount reclassified			Affected Line Item in the Statement
components	from AOCI			where Net Income is Presented
Gains and losses on cash flow hedges:
Foreign currency exchange contracts		$	2	COGS
Interest rate contracts			1	Interest expense
Commodity contracts			(3)	COGS
		$	-	Total before tax
			-	Tax (expense) benefit
		$	-	Net of tax
Amortization of postretirement and postemployment benefits:
Net experience loss		$	2	See Note 7 for further details
Prior service cost			3	See Note 7 for further details
		$	5	Total before tax
			(1)	Tax (expense) benefit
		$	4	Net of tax
Total reclassifications for the quarter		$	4	Net of tax

Accumulated other comprehensive income (loss) as of March 30, 2013 and December 29, 2012 consisted of the following:
			March 30,		December 29,
(millions)			2013		2012
Foreign currency translation adjustments		$	(845)	$	(817)
Cash flow hedges — unrealized net gain (loss)			5		(3)
Postretirement and postemployment benefits:
	Net experience loss		(27)		(29)
	Prior service cost		(80)		(82)
Total accumulated other comprehensive income (loss)		$	(947)	$	(931)