Sysco 2011 Annual Report Download - page 85

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A summary of the components of other comprehensive (loss) income and the related tax effects for each of the years presented is as follows:
Before Tax
Amount Tax
Net of Tax
Amount
2011
(In thousands)
Foreign currency translation adjustment ................................. $ 122,217 $ — $ 122,217
Amortization of cash flow hedge. . .................................... 696 268 428
Amortization of prior service cost . .................................... 4,145 1,592 2,553
Amortization of net actuarial loss (gain), net .............................. 79,564 30,551 49,013
Amortization of transition obligation.................................... 153 60 93
Prior service cost arising in current year................................. (9,239) (3,547) (5,692)
Net actuarial (loss) gain, net arising in current year ......................... 83,898 32,217 51,681
Other comprehensive income........................................ $ 281,434 $ 61,141 $ 220,293
Before Tax
Amount Tax
Net of Tax
Amount
2010
(53 Weeks)
(In thousands)
Foreign currency translation adjustment .............................. $ 49,973 $ — $ 49,973
Amortization of cash flow hedge . . ................................. 695 267 428
Amortization of prior service cost . . ................................. 4,394 1,687 2,707
Amortization of net actuarial loss (gain), net ............................ 40,037 15,373 24,664
Amortization of transition obligation ................................. 153 60 93
Net actuarial (loss) gain, net arising in current year . ...................... (454,756) (174,626) (280,130)
Other comprehensive loss ........................................ $ (359,504) $ (157,239) $ (202,265)
Before Tax
Amount Tax
Net of Tax
Amount
2009
(In thousands)
Foreign currency translation adjustment ............................... $ (84,452) $ — $ (84,452)
Amortization of cash flow hedge .................................... 694 266 428
Amortization of prior service cost .................................... 3,923 1,505 2,418
Amortization of net actuarial loss (gain), net ............................. 17,571 6,747 10,824
Amortization of transition obligation . . . ............................... 153 60 93
Pension liability assumption ........................................ (26,704) (10,254) (16,450)
Prior service cost arising in current year ............................... (575) (221) (354)
Net actuarial (loss) gain, net arising in current year ........................ (197,604) (75,879) (121,725)
Other comprehensive loss......................................... $ (286,994) $ (77,776) $ (209,218)
The following table provides a summary of the changes in accumulated other comprehensive (loss) income for the years presented:
Pension and
Other Postretirement
Benefit Plans,
net of tax
Foreign Currency
Translation
Interest Rate Swap,
net of tax Total
(In thousands)
Balance as of June 28, 2008 ................... $ (220,913) $ 164,014 $ (11,869) $ (68,768)
Foreign currency translation adjustment . . . ........ — (84,452) — (84,452)
Amortization of cash flow hedge ................ — — 428 428
Amortization of prior service cost ................ 2,418 — — 2,418
Amortization of net actuarial loss (gain), net . ........ 10,824 — — 10,824
Amortization of transition obligation .............. 93 — — 93
Pension liability assumption . ................... (16,450) — — (16,450)
Prior service cost arising in current year . . . ........ (354) — — (354)
Net actuarial (loss) gain, net arising in current year .... (121,725) — — (121,725)
Balance as of June 27, 2009 ................... (346,107) 79,562 (11,441) (277,986)
Foreign currency translation adjustment . . . ........ — 49,973 — 49,973
Amortization of cash flow hedge ................ — — 428 428
Amortization of prior service cost ................ 2,707 — — 2,707
Amortization of net actuarial loss (gain), net . ........ 24,664 — — 24,664
Amortization of transition obligation .............. 93 — — 93
Net actuarial (loss) gain, net arising in current year .... (280,130) — — (280,130)
Balance as of July 3, 2010 . . ................... (598,773) 129,535 (11,013) (480,251)
Foreign currency translation adjustment . . . ........ — 122,217 — 122,217
Amortization of cash flow hedge ................ — — 428 428
Amortization of prior service cost ................ 2,553 — — 2,553
Amortization of net actuarial loss (gain), net . ........ 49,013 — — 49,013
Amortization of transition obligation .............. 93 — — 93
Prior service cost arising in current year . . . ........ (5,692) — — (5,692)
Net actuarial (loss) gain, net arising in current year .... 51,681 — — 51,681
Balance as of July 2, 2011 . . ................... $ (501,125) $ 251,752 $ (10,585) $ (259,958)
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