Accumulated Other Comprehensive Loss Attributable to Pepsico (Tables)

The changes in the balances of each component of accumulated other comprehensive loss attributable to PepsiCo are as follows:


	Currency Translation Adjustment		Cash Flow Hedges		Pension and Retiree Medical		Available-for-Sale Debt Securities and Other(a)		Accumulated Other Comprehensive Loss Attributable to PepsiCo
Balance as of December 25, 2021 (b)	$	(12,309)	$	159	$	(2,750)	$	2	$	(14,898)
Other comprehensive (loss)/income before reclassifications (c)	(603)		(78)		48		8		(625)
Amounts reclassified from accumulated other comprehensive loss	—		(129)		440		—		311
Net other comprehensive (loss)/income	(603)		(207)		488		8		(314)
Tax amounts	(36)		49		(99)		(4)		(90)
Balance as of December 31, 2022 (b)	(12,948)		1		(2,361)		6		(15,302)
Other comprehensive (loss)/income before reclassifications (d)	(442)		(188)		(493)		608		(515)
Amounts reclassified from accumulated other comprehensive loss	108		146		37		—		291
Net other comprehensive (loss)/income	(334)		(42)		(456)		608		(224)
Tax amounts	27		10		98		(143)		(8)
Balance as of December 30, 2023 (b)	(13,255)		(31)		(2,719)		471		(15,534)
Other comprehensive loss before reclassifications (e)	(1,965)		(6)		(280)		(306)		(2,557)
Amounts reclassified from accumulated other comprehensive loss	—		158		285		—		443
Net other comprehensive (loss)/income	(1,965)		152		5		(306)		(2,114)
Tax amounts	3		(39)		—		72		36
Balance as of December 28, 2024 (b)	$	(15,217)	$	82	$	(2,714)	$	237	$	(17,612)

(a)The movements primarily represent fair value changes in available-for-sale debt securities, including our investment in Celsius convertible preferred stock. See Note 9 for further information.

(b)Pension and retiree medical amounts are net of taxes of $1,283 million as of December 25, 2021, $1,184 million as of December 31, 2022 and $1,282 million as of both December 30, 2023 and December 28, 2024.

(c)Currency translation adjustment primarily reflects depreciation of the Egyptian pound and British pound sterling.

(d)Currency translation adjustment primarily reflects depreciation of the Russian ruble and South African rand, partially offset by appreciation of the Mexican peso.

(e)Currency translation adjustment primarily reflects depreciation of the Mexican peso and Russian ruble.

The following table summarizes the reclassifications from accumulated other comprehensive loss to the income statement:


	Amount Reclassified from Accumulated Other Comprehensive Loss						Affected Line Item in the Income Statement
	2024		2023		2022
Currency translation:
Divestitures	$	—	$	108	$	—	Selling, general and administrative expenses

Cash flow hedges:
Foreign exchange contracts	$	(1)	$	(3)	$	(11)	Net revenue
Foreign exchange contracts	(5)		64		(10)		Cost of sales
Cross-currency contracts	48		(31)		159		Selling, general and administrative expenses
Interest rate swap contracts	(7)		(9)		—		Selling, general and administrative expenses
Commodity contracts	122		126		(252)		Cost of sales
Commodity contracts	1		(1)		(15)		Selling, general and administrative expenses
Net losses/(gains) before tax	158		146		(129)
Tax amounts	(37)		(39)		23
Net losses/(gains) after tax	$	121	$	107	$	(106)

Pension and retiree medical items:
Amortization of net prior service credit	$	(31)	$	(33)	$	(37)	Other pension and retiree medical benefits (expense)/income
Amortization of net losses	73		56		164		Other pension and retiree medical benefits (expense)/income
Settlement/curtailment losses	243		14		313		Other pension and retiree medical benefits (expense)/income
Net losses before tax	285		37		440
Tax amounts	(62)		(7)		(80)
Net losses after tax	$	223	$	30	$	360






Total net losses reclassified for the year, net of tax	$	344	$	245	$	254