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SYSCO CORPORATION-Form10-K 69
PARTII
ITEM8Financial Statements and Supplementary Data
NOTE16 Comprehensive Income
Comprehensive income is net earnings plus certain other items that are recorded directly to shareholders’ equity, such as foreign currency translation
adjustments, amounts related to cash fl ow hedging arrangements and certain amounts related to pension and other postretirement plans. Comprehensive
income was $718.7million, $1,372.3million and $977.7million in fi scal 2012,2011 and 2010, respectively.
A summary of the components of other comprehensive (loss) income and the related tax effects for each of the years presented is as follows:
(In thousands)
2012
Before Tax
Amount Tax
Net of Tax
Amount
Foreign currency translation adjustment $ (81,003) $ - $ (81,003)
Amortization of cash fl ow hedges 692 266 426
Settlement of cash fl ow hedge 722 277 445
Amortization of prior service cost 5,021 1,928 3,093
Amortization of actuarial loss (gain), net 59,835 22,975 36,860
Amortization of transition obligation 153 60 93
Prior service cost arising in current year (8,706) (3,343) (5,363)
Actuarial (loss) gain, net arising in current year (580,291) (222,832) (357,459)
TOTAL OTHER COMPREHENSIVE (LOSS) INCOME $ (603,577) $ (200,669) $ (402,908)
(In thousands)
2011
Before Tax
Amount Tax
Net of Tax
Amount
Foreign currency translation adjustment $ 122,217 $ - $ 122,217
Amortization of cash fl ow hedge 696 268 428
Amortization of prior service cost 4,145 1,592 2,553
Amortization of 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)
Actuarial (loss) gain, net arising in current year 83,898 32,217 51,681
TOTAL OTHER COMPREHENSIVE (LOSS) INCOME $ 281,434 $ 61,141 $ 220,293
(In thousands)
2010
(53Weeks)
Before Tax
Amount Tax
Net of Tax
Amount
Foreign currency translation adjustment $ 49,973 $ - $ 49,973
Amortization of cash fl ow hedge 695 267 428
Amortization of prior service cost 4,394 1,687 2,707
Amortization of actuarial loss (gain), net 40,037 15,373 24,664
Amortization of transition obligation 153 60 93
Actuarial (loss) gain, net arising in current year (454,756) (174,626) (280,130)
TOTAL OTHER COMPREHENSIVE (LOSS) INCOME $ (359,504) $ (157,239) $ (202,265)