Verizon Wireless 2013 Annual Report Download - page 70

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68
NOTE 14
COMPREHENSIVE INCOME
Comprehensive income consists of net income and other gains and losses aecting equity that, under U.S. GAAP, are excluded from net income.
Signicant changes in the components of Other comprehensive income, net of provision for income taxes are described below.
Accumulated Other Comprehensive Income
The changes in the balances of Accumulated other comprehensive income by component are as follows:
(dollars in millions)
Foreign
currency
translation
adjustments
Unrealized
gain on cash
flow hedges
Unrealized
gain on
marketable
securities
Defined benefit
pension and
postretirement
plans Total
Balance at January 1, 2013 $ 793 $ 88 $ 101 $ 1,253 $ 2,235
Other comprehensive income 60 50 33 – 143
Amounts reclassied to net income – (25) (17) 22 (20)
Net other comprehensive income 60 25 16 22 123
Balance at December 31, 2013 $ 853 $ 113 $ 117 $ 1,275 $ 2,358
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued
Net Unrealized Gains (Losses) on Marketable Securities
During 2013, 2012 and 2011, reclassication adjustments on marketable
securities for gains (losses) realized in net income were not signicant.
Dened Benet Pension and Postretirement Plans
The change in Dened benet pension and postretirement plans at
December 31, 2013 was not signicant.
The change in Dened benet pension and postretirement plans of $0.9
billion, net of taxes of $0.6 billion at December 31, 2012 was primarily a
result of plan amendments.
The amounts presented above in net other comprehensive income
are net of taxes and noncontrolling interests, which are not signicant.
For the year ended December 31, 2013, the amounts reclassied to net
income related to dened benet pension and postretirement plans in
the table above are included in Cost of services and sales and Selling,
general and administrative expense on our consolidated statements of
income. For the year ended December 31, 2013, all other amounts reclas-
sied to net income in the table above are included in Other income, net
on our consolidated statements of income.
Foreign Currency Translation Adjustments
The change in Foreign currency translation adjustments during 2013,
2012 and 2011 was primarily related to our investment in Vodafone
Omnitel N.V. and was primarily driven by the movements of the U.S.
dollar against the Euro.
Net Unrealized Gains (Losses) on Cash Flow Hedges
During 2013, 2012 and 2011, Unrealized gains (losses) on cash flow
hedges included in Other comprehensive income (loss) attributable to
noncontrolling interests, primarily reect activity related to a cross cur-
rency swap (see Note 9). Reclassication adjustments for gains (losses)
realized in net income were not signicant.