Coca Cola 2014 Annual Report Download - page 126
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124
December 31, 2013
Level 1 Level 2 Level 3
Netting
Adjustment1
Fair Value
Measurements
Assets:
Trading securities2 $ 206 $ 163 $ 3 $ — $ 372
Available-for-sale securities2 1,453 3,281 1083— 4,842
Derivatives417 822 — (150) 6895
Total assets $ 1,676 $ 4,266 $ 111 $ (150) $ 5,903
Liabilities:
Derivatives4$ 10 $ 165 $ — $ (151) $ 245
Total liabilities $ 10 $ 165 $ — $ (151) $ 24
1
Amounts represent the impact of legally enforceable master netting agreements that allow the Company to settle net positive and negative positions and
also cash collateral held or placed with the same counterparties. There are no amounts subject to legally enforceable master netting agreements that
management has chosen not to offset or that do not meet the offsetting requirements. Refer to Note 5.
2
Refer to Note 3 for additional information related to the composition of our trading securities and available-for-sale securities.
3
Primarily related to long-term debt securities that mature in 2018.
4
Refer to Note 5 for additional information related to the composition of our derivative portfolio.
5
The Company’s derivative financial instruments are recorded at fair value in our consolidated balance sheet as follows: $129 million in the line item
prepaid expenses and other assets; $560 million in the line item other assets; $12 million in the line item accounts payable and accrued expenses; and
$12 million in the line item other liabilities. Refer to Note 5 for additional information related to the composition of our derivative portfolio.
Gross realized and unrealized gains and losses on Level 3 assets and liabilities were not significant for the years ended December 31,
2014 and 2013.
The Company recognizes transfers between levels within the hierarchy as of the beginning of the reporting period. Gross transfers
between levels within the hierarchy were not significant for the years ended December 31, 2014 and 2013.
Nonrecurring Fair Value Measurements
In addition to assets and liabilities that are recorded at fair value on a recurring basis, the Company records assets and liabilities at
fair value on a nonrecurring basis as required by accounting principles generally accepted in the United States. Generally, assets are
recorded at fair value on a nonrecurring basis as a result of impairment charges.