Keurig Dr Pepper Inc
For the period ended Mar 31, 2024. Filed Apr 25, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed Apr 25, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Accumulated Other Comprehensive Income
- Accumulated Other Comprehensive Income
The following table provides a summary of changes in AOCI, net of taxes:
| (in millions) | Foreign Currency Translation Adjustments | Pension and Post-Retirement Benefit Liabilities | Cash Flow Hedges | Accumulated Other Comprehensive Income |
|---|---|---|---|---|
| For the first quarter of 2024: | ||||
| Beginning balance | $202 | $(14) | $127 | $315 |
| Other comprehensive loss | (56) | — | — | (56) |
| Amounts reclassified from AOCI | — | — | (2) | (2) |
| Total other comprehensive loss | (56) | — | (2) | (58) |
| Balance as of March 31, 2024 | $146 | $(14) | $125 | $257 |
| For the first quarter of 2023: | ||||
| Beginning balance | $(86) | $(10) | $225 | $129 |
| Other comprehensive income (loss) | 108 | — | (30) | 78 |
| Amounts reclassified from AOCI | — | — | (52) | (52) |
| Total other comprehensive income (loss) | 108 | — | (82) | 26 |
| Balance as of March 31, 2023 | $22 | $(10) | $143 | $155 |
The following table presents the amount of (gains) losses reclassified from AOCI into the unaudited Condensed Consolidated Statements of Income:
| First Quarter | |||
|---|---|---|---|
| (in millions) | Income Statement Caption | 2024 | 2023 |
| Cash Flow Hedges: | |||
| Interest rate contracts(1) | Interest expense | $(2) | $(68) |
| Income tax expense | — | 16 | |
| Total, net of tax | $(2) | $(52) | |
(1)Amounts reclassified from AOCI into interest expense during the first quarter of 2023 include the realized gains associated with the termination of forward starting swaps designated as cash flow hedges of approximately $66 million.
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