Kohl's 2014 Annual Report Download - page 48
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We use a combination of insurance and self-insurance for a number of risks including workers’ compensation, general liability, and employee-related
health care benefits, a portion of which is paid by our associates. Liabilities associated with these losses include estimates of both reported losses and losses
incurred but not yet reported. We use a third-party actuary, which considers historical claims experience, demographic factors, severity factors and other
actuarial assumptions, to estimate the liabilities associated with these risks. Total estimated liabilities for workers’ compensation, general liability and
employee-related health benefits were approximately $46 million at January 31, 2015 and $47 million at February 1, 2014. Although these amounts are
actuarially determined based on analysis of historical trends, the amounts that we will ultimately disburse could differ from these estimates.
As of January 1, 2015, our self insurance exposure for property losses differs based on the type of claim. For catastrophic claims like earthquakes,
floods and windstorms, depending on the location, we are self insured for 2-5% of the insurance claim. For other standard claims like fire and building
damages, we are self insured for the first $250,000 of property loss claims.
We account for repurchases of common stock and shares withheld in lieu of taxes when restricted stock vests using the cost method with common stock
in treasury classified in the Consolidated Balance Sheets as a reduction of shareholders’ equity.
Accumulated other comprehensive loss consists of the following:
Balance at February 2, 2013 $ (19)
$ (26)
$ (45)
Other comprehensive income 8
3
11
Balance at February 1, 2014 (11)
(23)
(34)
Other comprehensive income
Balance at January 31, 2015
The tax effects of each component of other comprehensive income are as follows:
Unrealized gains on investments:
Before-tax amounts
$ 12
$ 9
Tax expense
(4)
(4)
After-tax amounts
8
5
Interest rate derivatives:
Before-tax amounts
5
5
Tax expense
(2)
(2)
After-tax amounts
3
3
Other comprehensive income
$ 11
$ 8
F-9