Coca Cola 2004 Annual Report Download - page 92

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
The Coca-Cola Company and Subsidiaries
NOTE 10: HEDGING TRANSACTIONS AND DERIVATIVE FINANCIAL INSTRUMENTS (Continued)
The following table summarizes activity in AOCI related to derivatives designated as cash flow hedges held
by the Company during the applicable periods (in millions):
Before-Tax Income After-Tax
Year Ended December 31, Amount Tax Amount
2004
Accumulated derivative net losses as of January 1, 2004 $ (66) $ 26 $ (40)
Net changes in fair value of derivatives (76) 30 (46)
Net losses reclassified from AOCI into earnings 86 (34) 52
Accumulated derivative net losses as of December 31, 2004 $ (56) $ 22 $ (34)
Before-Tax Income After-Tax
Year Ended December 31, Amount Tax Amount
2003
Accumulated derivative net losses as of January 1, 2003 $ (15) $ 6 $ (9)
Net changes in fair value of derivatives (165) 65 (100)
Net losses reclassified from AOCI into earnings 114 (45) 69
Accumulated derivative net losses as of December 31, 2003 $ (66) $ 26 $ (40)
Before-Tax Income After-Tax
Year Ended December 31, Amount Tax Amount
2002
Accumulated derivative net gains as of January 1, 2002 $ 234 $ (92) $ 142
Net changes in fair value of derivatives (129) 51 (78)
Net gains reclassified from AOCI into earnings (120) 47 (73)
Accumulated derivative net losses as of December 31, 2002 $ (15) $ 6 $ (9)
90