Accumulated Other Comprehensive Loss (Tables)

3 Months Ended

Mar. 19, 2022

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 25, 2021 (a)	$	(12,309)	$	159	$	(2,750)	$	2	$	(14,898)
Other comprehensive (loss)/income before reclassifications (b)	(549)		200		(8)		—		(357)
Amounts reclassified from accumulated other comprehensive loss	—		(62)		25		—		(37)
Net other comprehensive (loss)/income	(549)		138		17		—		(394)
Tax amounts	(11)		(32)		(4)		(4)		(51)
Balance as of March 19, 2022 (a)	$	(12,869)	$	265	$	(2,737)	$	(2)	$	(15,343)

(a)Pension and retiree medical amounts are net of taxes of $1,283 million as of December 25, 2021 and $1,279 million as of March 19, 2022.

(b)Currency translation adjustment primarily reflects depreciation of the Russian ruble, partially offset by the appreciation of the South African rand, Brazilian real and Canadian dollar.


	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)

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

(b)Currency translation adjustment primarily reflects appreciation of the Canadian dollar, British pound sterling and 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
		3/19/2022		3/20/2021		Affected Line Item in the Income Statement



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

Cash flow hedges:
Foreign exchange contracts		$	(2)	$	1	Net revenue
Foreign exchange contracts		(2)		12		Cost of sales
Interest rate derivatives		20		(4)		Selling, general and administrative expenses
Commodity contracts		(76)		(11)		Cost of sales
Commodity contracts		(2)		1		Selling, general and administrative expenses
Net gains before tax		(62)		(1)
Tax amounts		10		1
Net gains after tax		$	(52)	$	—

Pension and retiree medical items:
Amortization of prior service credits		$	(8)	$	(9)	Other pension and retiree medical benefits income
Amortization of net losses		35		61		Other pension and retiree medical benefits income
Settlement/curtailment gains		(2)		—		Other pension and retiree medical benefits income
Net losses before tax		25		52
Tax amounts		(6)		(11)
Net losses after tax		$	19	$	41






Total net (gains)/losses reclassified, net of tax		$	(33)	$	59