Avon 2015 Annual Report Download - page 104

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
NOTE 6. Accumulated Other Comprehensive Income (Loss)
The tables below present the changes in AOCI by component and the reclassifications out of AOCI during 2015 and 2014:
Foreign
Currency
Translation
Adjustments
Cash Flow
Hedges
Net
Investment
Hedges
Pension and
Postretirement
Benefits Total
Balance at December 31, 2014 $(677.0) $(3.2) $(4.3) $(533.1) $(1,217.6)
Other comprehensive (loss) income other than
reclassifications (273.0) – – 40.7 (232.3)
Reclassifications into earnings:
Derivative losses on cash flow hedges, net of tax of
$0.0(1) – 1.9 – – 1.9
Amortization of net actuarial loss and prior service
cost, net of tax of $1.2(2) – – – 81.8 81.8
Total reclassifications into earnings – 1.9 – 81.8 83.7
Balance at December 31, 2015 $(950.0) $(1.3) $(4.3) $(410.6) $(1,366.2)
Foreign
Currency
Translation
Adjustments
Cash Flow
Hedges
Net
Investment
Hedges
Pension and
Postretirement
Benefits Total
Balance at December 31, 2013 $(429.3) $(5.1) $(4.3) $(431.7) $ (870.4)
Other comprehensive loss other than reclassifications (247.7) – – (187.2) (434.9)
Reclassifications into earnings:
Derivative losses on cash flow hedges, net of tax of
$0.0(1) – 1.9 – – 1.9
Amortization of net actuarial loss and prior service
cost, net of tax of $2.5(2) – – – 85.8 85.8
Total reclassifications into earnings – 1.9 – 85.8 87.7
Balance at December 31, 2014 $(677.0) $(3.2) $(4.3) $(533.1) $(1,217.6)
(1) Gross amount reclassified to interest expense, and related taxes reclassified to income taxes.
(2) Gross amount reclassified to pension and postretirement expense, within selling, general and administrative expenses, and related taxes reclassified to income
taxes.
Foreign exchange net losses of $21.9 and $18.2 for 2015 and 2014, respectively, and net gain of $.2 for 2013 resulting from the translation
of actuarial losses and prior service cost recorded in AOCI are included in changes in foreign currency translation adjustments in the
Consolidated Statements of Comprehensive Income (Loss).
NOTE 7. Income Taxes
(Loss) income from continuing operations, before taxes for the years ended December 31 was as follows:
2015 2014 2013
United States $(230.3) $(185.0) $(397.0)
Foreign 253.0 385.8 674.9
Total $ 22.7 $ 200.8 $ 277.9
The U.S. loss before taxes, for the years ended December 31, 2015, 2014 and 2013, does not include dividend income from foreign
subsidiaries.
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