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comprehensive income reported on our consolidated balance sheets consists of foreign currency translation adjustments and the
unrealized gains and losses, net of applicable taxes, on available-for-sale securities and on derivative instruments designated
and qualifying as cash flow and net investment hedges.
Changes in accumulated other comprehensive income ("AOCI") by component, for year ended September 27, 2015, net of tax:
(in millions)
Available-
for-Sale
Securities
Cash Flow
Hedges
Net
Investment
Hedges
Translation
Adjustment Total
September 27, 2015
Net gains/(losses) in AOCI, beginning of period $(0.4) $ 46.3 $ 3.2 $ (23.8) $ 25.3
Net gains/(losses) recognized in OCI before
reclassifications 0.9 30.8 2.7 (185.6)(151.2)
Net (gains)/losses reclassified from AOCI to
earnings (0.6)(51.5)(4.6) 14.3 (42.4)
Other comprehensive income/(loss) attributable to
Starbucks 0.3 (20.7)(1.9)(171.3)(193.6)
Purchase of noncontrolling interest ———(31.1)(31.1)
Net gains/(losses) in AOCI, end of period $(0.1) $ 25.6 $ 1.3 $ (226.2) $ (199.4)
(in millions)
Available-
for-Sale
Securities
Cash Flow
Hedges
Net
Investment
Hedges
Translation
Adjustment Total
September 28, 2014
Net gains/(losses) in AOCI, beginning of period $ (0.5) $ 26.8 $ (12.9) $ 53.6 $ 67.0
Net gains/(losses) recognized in OCI before
reclassifications 1.0 16.3 16.1 (77.4)(44.0)
Net (gains)/losses reclassified from AOCI to
earnings (0.9) 3.2 — — 2.3
Other comprehensive income/(loss) attributable to
Starbucks 0.1 19.5 16.1 (77.4)(41.7)
Net gains/(losses) in AOCI, end of period $ (0.4) $ 46.3 $ 3.2 $ (23.8) $ 25.3
Impact of reclassifications from AOCI on the consolidated statements of earnings (in millions):
AOCI
Components
Amounts Reclassified from AOCI
Affected Line Item in
the Statements of Earnings
Fiscal Year Ended
Sep 27, 2015 Sep 28, 2014
Gains/(losses) on cash flow hedges
Interest rate hedges $ 3.2 $ 5.0 Interest expense
Cross-currency swaps 46.2 — Interest income and other, net
Foreign currency hedges 14.0 5.1 Revenue
Foreign currency/coffee hedges 8.6 (10.0)Cost of sales including occupancy costs
Gains/(losses) on net investment hedges(1) 7.2 — Gain resulting from acquisition of joint venture
Translation adjustment(2)
Starbucks Japan (7.2) — Gain resulting from acquisition of joint venture
Other (7.1) — Interest income and other, net
64.9 0.1 Total before tax
(23.1) (3.3)Tax (expense)/benefit
$ 41.8 $ (3.2) Net of tax
(1) Release of pretax cumulative net gains in AOCI related to our net investment derivative instruments used to hedge our
preexisting 39.5% equity method investment in Starbucks Japan.
(2) Release of cumulative translation adjustments to earnings upon sale or liquidation of foreign business.
78 Starbucks Corporation 2015 Form 10-K