AbbVie 2014 Annual Report Download - page 97
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13NOV201221352027
Accumulated Other Comprehensive Loss
The following table summarizes the changes in balances of each component of AOCI, net of tax for the
years ended December 31, 2013 and 2014:
Unrealized
gains
Foreign Pension (losses) on
currency and post- marketable
translation employment equity Hedging
(in millions) (brackets denote losses) adjustments benefits securities activities Total
Balance as of December 31, 2011 $ 8 $ (65) $ 26 $ 6 $ (25)
Other comprehensive income before
reclassifications 173 (157) (25) (9) $ (18)
Amounts reclassified from accumulated other
comprehensive income — 7 — (18) $ (11)
Net current-period other comprehensive income 173 (150) (25) (27) $ (29)
Separation-related adjustments — (296) — — $ (296)
Balance as of December 31, 2012 $ 181 $ (511) $ 1 $ (21) $ (350)
Other comprehensive income before
reclassifications 48 519 1 (77) $ 491
Amounts reclassified from accumulated other
comprehensive income — 79 — — $ 79
Net current-period other comprehensive income 48 598 1 (77) $ 570
Separation-related adjustments 241 (914) — 11 $ (662)
Balance as of December 31, 2013 $ 470 $ (827) $ 2 $ (87) $ (442)
Other comprehensive income before
reclassifications (1,073) (827) 1 187 $(1,712)
Amounts reclassified from accumulated other
comprehensive income — 46 — 77 $ 123
Net current-period other comprehensive (loss)
income (1,073) (781) 1 264 $(1,589)
Balance as of December 31, 2014 $ (603) $(1,608) $ 3 $ 177 $(2,031)
Other comprehensive loss in 2014 includes foreign currency translation adjustments totaling a loss of
$1.1 billion, which was principally driven by (i) the impact of the substantial weakening of the Euro in 2014
on the translation of the company’s Euro-denominated assets, and (ii) the weakening of foreign currencies
in combination with an increased concentration of cash denominated in the foreign currencies accumulated
in anticipation of the terminated proposed combination with Shire plc.
2014 Form 10-K 91