Analysis: Deferred Assets and Liabilities, Net

Entity Registrant Name COCA COLA CO
CIK 0000021344
Accession number 0000021344-14-000008
Link to XBRL instance http://www.sec.gov/Archives/edgar/data/21344/000002134414000008/ko-20131231.xml
Fiscal year end --12-31
Fiscal year focus 2013
Fiscal period focus FY
Current balance sheet date 2013-12-31
Current year-to-date income statement start date 2013-01-01
Commentary Conforms with all rules.
Level 3 Text Block concept us-gaap:ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
The tax effects of temporary differences and carryforwards that give rise to deferred tax assets and liabilities consist of the following (in millions):
December 31,
2013

 
2012

 
Deferred tax assets:
 
 
 
 
Property, plant and equipment
$
102

 
$
89

 
Trademarks and other intangible assets
63

 
77

 
Equity method investments (including foreign currency translation adjustment)
243

 
209

 
Derivative financial instruments
50

 
116

 
Other liabilities
1,102

 
1,178

 
Benefit plans
1,237

 
1,808

 
Net operating/capital loss carryforwards
790

 
782

 
Other
225

 
320

 
Gross deferred tax assets
$
3,812

 
$
4,579

 
Valuation allowances
(586
)
 
(487
)
 
Total deferred tax assets1,2
$
3,226

 
$
4,092

 
Deferred tax liabilities:
 
 
 
 
Property, plant and equipment
$
(2,417
)
 
$
(2,204
)
 
Trademarks and other intangible assets
(4,192
)
 
(4,133
)
 
Equity method investments (including foreign currency translation adjustment)
(1,070
)
 
(712
)
 
Derivative financial instruments
(147
)
 
(140
)
 
Other liabilities
(69
)
 
(144
)
 
Benefit plans
(473
)
 
(495
)
 
Other
(810
)
 
(929
)
 
Total deferred tax liabilities3
$
(9,178
)
 
$
(8,757
)
 
Net deferred tax liabilities
$
(5,952
)
 
$
(4,665
)
 
1 
Noncurrent deferred tax assets of $328 million and $403 million were included in the line item other assets in our consolidated balance sheets as of December 31, 2013 and 2012, respectively.
2 
Current deferred tax assets of $211 million and $244 million were included in the line item prepaid expenses and other assets in our consolidated balance sheets as of December 31, 2013 and 2012, respectively.
3 
Current deferred tax liabilities of $339 million and $331 million were included in the line item accounts payable and accrued expenses in our consolidated balance sheets as of December 31, 2013 and 2012, respectively.

Level 4 Details Key Concepts: Deferred tax assets (liabilities)

Description Fact value US GAAP XBRL Concept
Deferred tax assets, gross 3,812,000,000 us-gaap:DeferredTaxAssetsGross
Valuation allowance -586,000,000 us-gaap:DeferredTaxAssetsValuationAllowance
Deferred tax assets, net 3,226,000,000 us-gaap:DeferredTaxAssetsNet
Deferred tax liabilities -9,178,000,000 us-gaap:DeferredIncomeTaxLiabilities
Deferred tax assets (liabilities), net -5,952,000,000
CHECK 0

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(Classified balance sheet) Deferred tax assets (liabilities), net components current/noncurrent asset/liability

Description Fact value US GAAP XBRL Concept
Deferred tax assets, net, current 211,000,000 us-gaap:DeferredTaxAssetsNetCurrent
Deferred tax assets, net, noncurrent 328,000,000 us-gaap:DeferredTaxAssetsNetNoncurrent
Deferred tax liabilities, net, current -339,000,000 us-gaap:DeferredTaxLiabilitiesCurrent
Deferred tax liabilities, net, noncurrent -6,152,000,000 us-gaap:DeferredIncomeTaxLiabilities
Deferred tax assets (liabilities), net -5,952,000,000
CHECK 0

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(Unclassified balance sheet) Deferred tax assets (liabilities), net components asset/liability

Description Fact value US GAAP XBRL Concept
Deferred tax assets 3,226,000,000 us-gaap:DeferredTaxAssetsNetCurrent
Deferred tax liabilities, net -9,178,000,000 us-gaap:DeferredIncomeTaxLiabilities
Deferred tax assets (liabilities), net -5,952,000,000
CHECK 0

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