Accumulated Other Comprehensive Loss (Tables)

8 Months Ended

Sep. 05, 2020

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

The changes in the balances of each component of accumulated other comprehensive loss attributable to PepsiCo are as follows:


	Currency Translation Adjustment		Cash Flow Hedges		Pension and Retiree Medical		Other		Accumulated Other Comprehensive Loss Attributable to PepsiCo
Balance as of December 28, 2019 ^(a)	$	(11,290)	$	(3)	$	(2,988)	$	(19)	$	(14,300)
Other comprehensive (loss)/income before reclassifications ^(b)	(735)		(236)		21		1		(949)
Amounts reclassified from accumulated other comprehensive loss	—		157		50		—		207
Net other comprehensive (loss)/income	(735)		(79)		71		1		(742)
Tax amounts	(19)		18		(14)		—		(15)
Balance as of March 21, 2020 ^(a)	$	(12,044)	$	(64)	$	(2,931)	$	(18)	$	(15,057)
Other comprehensive (loss)/income before reclassifications ^(c)	(827)		144		25		(1)		(659)
Amounts reclassified from accumulated other comprehensive loss	—		(127)		57		—		(70)
Net other comprehensive (loss)/income	(827)		17		82		(1)		(729)
Tax amounts	31		(4)		(19)		—		8
Balance as of June 13, 2020 ^(a)	$	(12,840)	$	(51)	$	(2,868)	$	(19)	$	(15,778)
Other comprehensive (loss)/income before reclassifications ^(d)	385		115		(59)		(3)		438
Amounts reclassified from accumulated other comprehensive loss	—		(100)		55		—		(45)
Net other comprehensive (loss)/income	385		15		(4)		(3)		393
Tax amounts	29		(4)		3		—		28
Balance as of September 5, 2020 ^(a)	$	(12,426)	$	(40)	$	(2,869)	$	(22)	$	(15,357)

(a)Pension and retiree medical amounts are net of taxes of $1,370 million as of December 28, 2019, $1,356 million as of March 21, 2020, $1,337 million as of June 13, 2020 and $1,340 million as of September 5, 2020.

(b)Currency translation adjustment primarily reflects depreciation of the Russian ruble, Canadian dollar and Mexican peso.

(c)Currency translation adjustment primarily reflects depreciation of the Mexican peso, Russian ruble and euro.

(d)Currency translation adjustment primarily reflects appreciation of the Pound sterling, Canadian dollar and Australian dollar, partially offset by the depreciation of the Russian ruble.


	Currency Translation Adjustment		Cash Flow Hedges		Pension and Retiree Medical		Other		Accumulated Other Comprehensive Loss Attributable to PepsiCo
Balance as of December 29, 2018 ^(a)	$	(11,918)	$	87	$	(3,271)	$	(17)	$	(15,119)
Other comprehensive (loss)/income before reclassifications ^(b)	475		(20)		(16)		—		439
Amounts reclassified from accumulated other comprehensive loss	—		(15)		34		—		19
Net other comprehensive (loss)/income	475		(35)		18		—		458
Tax amounts	(2)		8		(1)		—		5
Balance as of March 23, 2019 ^(a)	$	(11,445)	$	60	$	(3,254)	$	(17)	$	(14,656)
Other comprehensive (loss)/income before reclassifications ^(c)	(365)		(37)		16		1		(385)
Amounts reclassified from accumulated other comprehensive loss	—		29		37		—		66
Net other comprehensive (loss)/income	(365)		(8)		53		1		(319)
Tax amounts	—		2		(11)		—		(9)
Balance as of June 15, 2019 ^(a)	$	(11,810)	$	54	$	(3,212)	$	(16)	$	(14,984)
Other comprehensive (loss)/income before reclassifications ^(d)	(149)		(95)		19		(1)		(226)
Amounts reclassified from accumulated other comprehensive loss	—		43		54		—		97
Net other comprehensive (loss)/income	(149)		(52)		73		(1)		(129)
Tax amounts	(10)		14		(17)		—		(13)
Balance as of September 7, 2019 ^(a)	$	(11,969)	$	16	$	(3,156)	$	(17)	$	(15,126)

(a)Pension and retiree medical amounts are net of taxes of $1,466 million as of December 29, 2018, $1,465 million as of March 23, 2019 and $1,454 million as of June 15, 2019 and $1,437 million as of September 7, 2019.

(b)Currency translation adjustment primarily reflects appreciation of the Russian ruble, Mexican peso and Pound sterling.

(c)Currency translation adjustment primarily reflects depreciation of the euro, Mexican peso and Swiss franc.

(d)Currency translation adjustment primarily reflects depreciation of the Pound sterling, Russian ruble and Mexican peso.

Reclassifications out of Accumulated Other Comprehensive Loss

The reclassifications from accumulated other comprehensive loss to the income statement are summarized as follows:


	12 Weeks Ended						36 Weeks Ended
	9/5/2020		9/7/2019		9/5/2020		9/7/2019		Affected Line Item in the Income Statement



Cash flow hedges:
Foreign exchange contracts	$	—	$	—	$	—	$	1	Net revenue
Foreign exchange contracts	(22)		4		(37)		(1)		Cost of sales
Interest rate derivatives	(102)		38		(73)		54		Net interest expense and other
Commodity contracts	22		—		36		2		Cost of sales
Commodity contracts	2		1		4		1		Selling, general and administrative expenses
Net (gains)/losses before tax	(100)		43		(70)		57
Tax amounts	25		(11)		17		(13)
Net (gains)/losses after tax	$	(75)	$	32	$	(53)	$	44

Pension and retiree medical items:
Amortization of prior service credits	$	—	$	(2)	$	—	$	(6)	Other pension and retiree medical benefits income
Amortization of net losses	55		38		162		113		Other pension and retiree medical benefits income
Settlement losses	—		18		—		18		Other pension and retiree medical benefits income
Net losses before tax	55		54		162		125
Tax amounts	(12)		(12)		(34)		(27)
Net losses after tax	$	43	$	42	$	128	$	98






Total net (gains)/losses reclassified, net of tax	$	(32)	$	74	$	75	$	142