Citrix 2014 Annual Report Download - page 108

Download and view the complete annual report

Please find page 108 of the 2014 Citrix annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 120

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120

CITRIX SYSTEMS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
F-40
16. COMPREHENSIVE INCOME
The changes in Accumulated other comprehensive (loss) income by component, net of tax, are as follows (in thousands):
Foreign currency
Unrealized
gain (loss) on
available-for-
sale securities
Unrealized
gain (loss) on
derivative
instruments
Other
comprehensive
loss on pension
liability Total
(In thousands)
Balance at December 31, 2013 $ 5,458 $ 1,238 $ 2,852 $ (4,597) $ 4,951
Other comprehensive loss before
reclassifications (21,804) (911)(9,074)(6,512)(38,301)
Amounts reclassified from Accumulated
other comprehensive (loss) income —(1,317)(2,123)—
(3,440)
Net current period other comprehensive loss (21,804) (2,228)(11,197)(6,512)(41,741)
Balance at December 31, 2014 $ (16,346) $ (990)$ (8,345)$ (11,109)$ (36,790)
Income tax expense or benefit allocated to each component of other comprehensive loss is not material.
Reclassifications out of Accumulated other comprehensive (loss) income are as follows (in thousands):
For the Twelve Months Ended December 31, 2014
(In thousands)
Details about Accumulated other comprehensive (loss)
income components
Amount reclassified from Accumulated
other comprehensive (loss) income, net
of tax
Affected line item in the Consolidated
Statements of Income
Unrealized net gain on available-for-sale
securities $ 1,317 Other (expense) income, net
Unrealized net gain on cash flow hedges 2,123 Operating expenses *
$ 3,440
* Operating expenses amounts allocated to Research and development, Sales, marketing and services, and General and
administrative are not individually significant.
17. RESTRUCTURING
During the first quarter of 2014, the Company announced the implementation of the 2014 Restructuring Program to better
align resources to strategic initiatives. As a result, the Company reduced its headcount by approximately 320 full-time
positions. It is anticipated the total severance and related costs of these actions will be in the range of $22.0 million to $24.0
million, which is expected to be completed during the first quarter 2015.
Restructuring charges related to the reduction of the Company's headcount by segment consists of the following (in
thousands):
Year ended
December 31,
2014
Enterprise and Service Provider division $ 14,092
Mobility Apps division 6,332
Total restructuring charges $ 20,424