Faster, stronger, better. Annual report 2019 creating more smiles with every sip

Fair Value/Non-
designated Hedges
Cash Flow and Net Investment Hedges
Losses/(Gains)
Recognized in
Income Statement
(a)
Losses/(Gains)
Recognized in
Accumulated Other
Comprehensive Loss
Losses/(Gains)
Reclassified from
Accumulated Other
Comprehensive Loss
into Income
Statement
(b)
2019
2018
2019
2018
2019
2018
Foreign exchange
$
(1) $
9 $
57 $
(52) $
3 $
(8)
Interest rate
(64)
53
67
110
7
119
Commodity
(17)
117
7
3
4
—
Net investment
—
—
(30)
(77)
—
—
Total
$
(82) $
179 $
101 $
(16) $
14 $
111
(a) Foreign exchange derivative losses/gains are primarily included in selling, general and administrative expenses. Interest rate derivative 
losses/gains are primarily from fair value hedges and are included in interest expense. These losses/gains are substantially offset by decreases/
increases in the value of the underlying debt, which are also included in interest expense. Commodity derivative losses/gains are included 
in either cost of sales or selling, general and administrative expenses, depending on the underlying commodity.
(b) Foreign exchange derivative losses/gains are primarily included in cost of sales. Interest rate derivative losses/gains are included in interest 
expense. Commodity derivative losses/gains are included in either cost of sales or selling, general and administrative expenses, depending 
on the underlying commodity. 
Based on current market conditions, we expect to reclassify net losses of $47 million related to our cash flow 
hedges from accumulated other comprehensive loss into net income during the next 12 months.

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114