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Accumulated Other Comprehensive Loss Attributable to PepsiCo
 3 Months Ended
Mar. 23, 2024
Equity [Abstract]  
Accumulated Other Comprehensive Loss Attributable to PepsiCo Accumulated Other Comprehensive Loss Attributable to PepsiCo
The changes in the balances of each component of accumulated other comprehensive loss attributable to PepsiCo are as follows:
Currency Translation AdjustmentCash Flow HedgesPension and Retiree Medical
Available-for-sale debt securities and other(a)
Accumulated Other Comprehensive Loss Attributable to PepsiCo
Balance as of December 30, 2023 (b)
$(13,255)$(31)$(2,719)$471 $(15,534)
Other comprehensive (loss)/income before reclassifications (c)
(168)(47)4 685 474 
Amounts reclassified from accumulated other comprehensive loss— 51 9 — 60 
Net other comprehensive (loss)/income(168)4 13 685 534 
Tax amounts(14)(1)(2)(162)(179)
Balance as of March 23, 2024 (b)
$(13,437)$(28)$(2,708)$994 $(15,179)
(a)The changes primarily represent fair value increases 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 $1,282 million as of December 30, 2023 and $1,280 million as of March 23, 2024.
(c)Currency translation adjustment primarily reflects depreciation of the South African rand, Canadian dollar and Russian ruble.

Currency Translation AdjustmentCash Flow HedgesPension and Retiree MedicalAvailable-for-sale debt securities and otherAccumulated Other Comprehensive Loss Attributable to PepsiCo
Balance as of December 31, 2022 (a)
$(12,948)$1 $(2,361)$6 $(15,302)
Other comprehensive loss before reclassifications (b)
(350)(92)(9)(1)(452)
Amounts reclassified from accumulated other comprehensive loss (c)
108 13 5 — 126 
Net other comprehensive loss(242)(79)(4)(1)(326)
Tax amounts7 20 — — 27 
Balance as of March 25, 2023 (a)
$(13,183)$(58)$(2,365)$5 $(15,601)
(a)Pension and retiree medical amounts are net of taxes of $1,184 million as of both December 31, 2022 and March 25, 2023.
(b)Currency translation adjustment primarily reflects depreciation of the Egyptian pound and Russian ruble.
(c)Release of currency translation adjustment is in relation to the sale of a non-strategic brand and an investment within our AMESA division.
The reclassifications from accumulated other comprehensive loss to the income statement are summarized as follows:
12 Weeks Ended
3/23/20243/25/2023Affected Line Item in the Income Statement
Currency translation:
Divestitures$— $108 
Selling, general and administrative expenses
Cash flow hedges:
Foreign exchange contracts$— $(2)Net revenue
Foreign exchange contracts
9 3 Cost of sales
Interest rate derivatives
21 3 
Selling, general and administrative expenses
Commodity contracts
21 10 Cost of sales
Commodity contracts— (1)
Selling, general and administrative expenses
Net losses before tax51 13 
Tax amounts
(13)(4)
Net losses after tax$38 $9 
Pension and retiree medical items:
Amortization of prior service credits$(7)$(7)Other pension and retiree medical benefits income
Amortization of net losses16 12 Other pension and retiree medical benefits income
Net losses before tax9 5 
Tax amounts
(2)(1)
Net losses after tax$7 $4 
Total net losses reclassified, net of tax$45 $121