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30 McDonald’s Corporation 2014 Annual Report
Consolidated Statement of Comprehensive Income
In millions Years ended December 31, 2014 2013 2012
Net income $4,757.8 $5,585.9 $5,464.8
Other comprehensive income (loss), net of tax
Foreign currency translation adjustments:
Gain (loss) recognized in accumulated other comprehensive
income (AOCI), including net investment hedges (1,971.6) (279.4) 274.7
Reclassification of (gain) loss to net income 15.2 — (0.1)
Foreign currency translation adjustments-net of tax
benefit (expense) of $(196.0), $(5.3) and $(47.9) (1,956.4) (279.4) 274.6
Cash flow hedges:
Gain (loss) recognized in AOCI 40.1 (73.4) 19.8
Reclassification of (gain) loss to net income (6.8) 35.9 10.8
Cash flow hedges-net of tax benefit (expense) of $(18.2),
$11.4 and $(8.8) 33.3 (37.5) 30.6
Defined benefit pension plans:
Gain (loss) recognized in AOCI (26.6) (52.8) 33.1
Reclassification of (gain) loss to net income 2.4 0.9 8.4
Defined benefit pension plans-net of tax benefit (expense)
of $7.7, $14.2 and $(13.9) (24.2) (51.9) 41.5
Total other comprehensive income (loss), net of tax (1,947.3) (368.8) 346.7
Comprehensive income $2,810.5 $5,217.1 $5,811.5
See Notes to consolidated financial statements.