Accumulated Other Comprehensive Loss (Tables)

8 Months Ended

Sep. 04, 2021

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 26, 2020 (a)	$	(11,940)	$	4	$	(3,520)	$	(20)	$	(15,476)
Other comprehensive income/(loss) before reclassifications (b)	128		97		(20)		—		205
Amounts reclassified from accumulated other comprehensive loss	18		(1)		52		—		69
Net other comprehensive income	146		96		32		—		274
Tax amounts	(15)		(24)		(5)		—		(44)
Balance as of March 20, 2021 (a)	$	(11,809)	$	76	$	(3,493)	$	(20)	$	(15,246)
Other comprehensive income/(loss) before reclassifications (c)	255		175		(28)		2		404
Amounts reclassified from accumulated other comprehensive loss	—		(53)		57		—		4
Net other comprehensive income	255		122		29		2		408
Tax amounts	13		(29)		(5)		—		(21)
Balance as of June 12, 2021 (a)	$	(11,541)	$	169	$	(3,469)	$	(18)	$	(14,859)
Other comprehensive (loss)/income before reclassifications (d)	(319)		(45)		49		—		(315)
Amounts reclassified from accumulated other comprehensive loss	—		14		67		—		81
Net other comprehensive (loss)/income	(319)		(31)		116		—		(234)
Tax amounts	(16)		10		(26)		—		(32)
Balance as of September 4, 2021 (a)	$	(11,876)	$	148	$	(3,379)	$	(18)	$	(15,125)

(a)Pension and retiree medical amounts are net of taxes of $1,514 million as of December 26, 2020, $1,509 million as of March 20, 2021,$1,504 million as of June 12, 2021 and $1,478 million as of September 4, 2021.

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

(c)Currency translation adjustment primarily reflects appreciation of the South African rand, Canadian dollar and Russian ruble.

(d)Currency translation adjustment primarily reflects depreciation of the Canadian dollar, South African rand and Pound sterling.


	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 income/(loss) before reclassifications (d)	385		115		(59)		(3)		438
Amounts reclassified from accumulated other comprehensive loss	—		(100)		55		—		(45)
Net other comprehensive income/(loss)	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.

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
	9/4/2021		9/5/2020		9/4/2021		9/5/2020		Affected Line Item in the Income Statement



Currency translation:
Divestiture	$	—	$	—	$	18	$	—	Selling, general and administrative expenses

Cash flow hedges:
Foreign exchange contracts	$	2	$	—	$	6	$	—	Net revenue
Foreign exchange contracts	25		(22)		61		(37)		Cost of sales
Interest rate derivatives	53		(102)		2		(73)		Selling, general and administrative expenses
Commodity contracts	(65)		22		(108)		36		Cost of sales
Commodity contracts	(1)		2		(1)		4		Selling, general and administrative expenses
Net losses/(gains) before tax	14		(100)		(40)		(70)
Tax amounts	(3)		25		10		17
Net losses/(gains) after tax	$	11	$	(75)	$	(30)	$	(53)

Pension and retiree medical items:
Amortization of prior service credits	$	(10)	$	—	$	(30)	$	—	Other pension and retiree medical benefits income
Amortization of net losses	67		55		196		162		Other pension and retiree medical benefits income
Settlement losses	10		—		10		—		Other pension and retiree medical benefits income
Net losses before tax	67		55		176		162
Tax amounts	(14)		(12)		(37)		(34)
Net losses after tax	$	53	$	43	$	139	$	128






Total net losses/(gains) reclassified, net of tax	$	64	$	(32)	$	127	$	75