Keurig Dr Pepper Inc
For the period ended Sep 30, 2024. Filed Oct 24, 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.
Sep 30, 2024 · Filed Oct 24, 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 third quarter of 2024: | ||||
| Beginning balance | $(55) | $(14) | $146 | $77 |
| Other comprehensive (loss) income | (69) | (1) | 10 | (60) |
| Amounts reclassified from AOCI | — | 1 | (4) | (3) |
| Total other comprehensive (loss) income | (69) | — | 6 | (63) |
| Balance as of September 30, 2024 | $(124) | $(14) | $152 | $14 |
| For the third quarter of 2023: | ||||
| Beginning balance | $181 | $(10) | $126 | $297 |
| Other comprehensive (loss) income | (135) | — | 7 | (128) |
| Amounts reclassified from AOCI | — | — | 2 | 2 |
| Total other comprehensive (loss) income | (135) | — | 9 | (126) |
| Balance as of September 30, 2023 | $46 | $(10) | $135 | $171 |
| For the first nine months of 2024: | ||||
| Beginning balance | $202 | $(14) | $127 | $315 |
| Other comprehensive (loss) income | (326) | (1) | 32 | (295) |
| Amounts reclassified from AOCI | — | 1 | (7) | (6) |
| Total other comprehensive (loss) income | (326) | — | 25 | (301) |
| Balance as of September 30, 2024 | $(124) | $(14) | $152 | $14 |
| For the first nine months of 2023: | ||||
| Beginning balance | $(86) | $(10) | $225 | $129 |
| Other comprehensive income (loss) | 132 | — | (34) | 98 |
| Amounts reclassified from AOCI | — | — | (56) | (56) |
| Total other comprehensive income (loss) | 132 | — | (90) | 42 |
| Balance as of September 30, 2023 | $46 | $(10) | $135 | $171 |
The following table presents the amount of (gains) losses reclassified from AOCI into the unaudited Condensed Consolidated Statements of Income:
| Income Statement Caption · Third Quarter · First Nine Months | |||||
|---|---|---|---|---|---|
| (in millions) · 2024 · 2023 · 2024 · 2023 | |||||
| Pension and PRMB liabilities | SG&A expenses | $1 | $— | $1 | $— |
| Income tax benefit | — | — | — | — | |
| Total, net of tax | 1 | — | 1 | — | |
| Cash Flow Hedges: | |||||
| Interest rate contracts(1) | Interest expense | $(3) | $(2) | $(9) | $(72) |
| FX contracts | Cost of sales | (1) | 4 | 1 | (1) |
| Total | (4) | 2 | (8) | (73) | |
| Income tax expense | — | — | 1 | 17 | |
| Total, net of tax | $(4) | $2 | $(7) | $(56) | |
(1)Amounts reclassified from AOCI into interest expense during the first nine months of 2023 include the realized gains associated with the termination of forward starting swaps designated as cash flow hedges of approximately $66 million.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.