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SYSCO CORPORATION-Form10-K 77
PARTII
ITEM8Financial Statements and Supplementary Data
NOTE17 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  ow hedging arrangements and certain amounts related to pension and other postretirement plans. Comprehensive
income was $735.8 million, $1,208.4 million and $718.7 million in  scal 2014, 2013 and 2012, respectively.
A summary of the components of other comprehensive income (loss) and the related tax effects for each of the years presented is as follows:
(Inthousands)
Location of Expense
(Income) Recognized
in Net Earnings
2014
Before Tax
Amount Tax
Net of Tax
Amount
Pension and other postretirement bene t plans:
Reclassi cation adjustments:
Amortization of prior service cost Operating expenses $ 11,313 $ 4,343 $ 6,970
Amortization of actuarial loss (gain), net Operating expenses 16,184 6,216 9,968
TOTAL RECLASSIFICATION ADJUSTMENTS 27,497 10,559 16,938
Other comprehensive income before reclassi cation adjustments:
Prior service cost arising in current year N/A 347 133 214
Net actuarial gain arising in current year N/A (207,698) (79,756) (127,942)
TOTAL OTHER COMPREHENSIVE INCOME BEFORE
RECLASSIFICATION ADJUSTMENTS (207,351) (79,623) (127,728)
Foreign currency translation:
Other comprehensive income before reclassi cation adjustments:
Foreign currency translation adjustment N/A (3,106) - (3,106)
Interest rate swaps:
Reclassi cation adjustments:
Amortization of cash  ow hedges Interest expense 625 240 385
Other comprehensive income before reclassi cation adjustments:
Change in fair value of cash  ow hedges N/A (133,466) (51,251) (82,215)
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) $ (315,801) $ (120,075) $ (195,726)
(Inthousands)
Location of Expense
(Income) Recognized
in Net Earnings
2013
Before Tax
Amount Tax
Net of Tax
Amount
Pension and other postretirement bene t plans:
Reclassi cation adjustments:
Amortization of prior service cost Operating expenses $ 18,360 $ 7,050 $ 11,310
Amortization of actuarial loss (gain), net Operating expenses 72,421 27,811 44,610
Amortization of transition obligation Operating expenses 141 53 88
TOTAL RECLASSIFICATION ADJUSTMENTS 90,922 34,914 56,008
Other comprehensive income before reclassi cation adjustments:
Prior service cost arising in current year N/A (53,902) (20,699) (33,203)
Net actuarial gain arising in current year N/A 366,769 140,840 225,929
TOTAL OTHER COMPREHENSIVE INCOME BEFORE
RECLASSIFICATION ADJUSTMENTS 312,867 120,141 192,726
Foreign currency translation:
Other comprehensive income before reclassi cation adjustments:
Foreign currency translation adjustment N/A (33,191) - (33,191)
Interest rate swaps:
Reclassi cation adjustments:
Amortization of cash  ow hedges Interest expense 626 240 386
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) $ 371,224 $ 155,295 $ 215,929