Henry Schein 2014 Annual Report Download - page 93

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HENRY SCHEIN, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
(in thousands, except per share data)
79
Note 7 – Comprehensive Income
Comprehensive income includes certain gains and losses that, under U.S. GAAP, are excluded from net income
as such amounts are recorded directly as an adjustment to stockholders’ equity. Our comprehensive income is
primarily comprised of net income, foreign currency translation gain (loss), unrealized gain (loss) on foreign
currency hedging activities, unrealized investment gain (loss) and pension adjustment gain (loss).
The following table summarizes our Accumulated other comprehensive income, net of applicable taxes as of:
December 27, December 28, December 29,
2014 2013 2012
Attributable to Redeemable noncontrolling interests:
Foreign currency translation adjustment .................................................. $ (5,583) $ (1,503) $ (849)
Attributable to noncontrolling interests:
Foreign currency translation adjustment .................................................. $ (36) $ - $ -
Attributable to Henry Schein, Inc.:
Foreign currency translation gain (loss) ....................................................... $ (71,294) $ 82,288 $ 72,160
Unrealized gain (loss) from foreign currency hedging activities .................. (1,055) 1,282 1,187
Unrealized investment loss ........................................................................... (136) (515) (415)
Pension adjustment loss ................................................................................ (22,647) (15,206) (20,077)
Accumulated other comprehensive income (loss) .................................... $ (95,132) $ 67,849 $ 52,855
Total Accumulated other comprehensive income (loss) ................................... $ (100,751) $ 66,346 $ 52,006
The following table summarizes the components of comprehensive income, net of applicable taxes as follows:
December 27, December 28, December 29,
2014 2013 2012
N
et income ...................................................................................................
.
$ 505,436 $ 471,462 $ 423,388
Foreign currency translation gain (loss) .......................................................
.
(157,698) 9,474 33,347
Tax effect .....................................................................................................
.
- - -
Foreign currency translation gain (loss) .......................................................
.
(157,698) 9,474 33,347
Unrealized gain (loss) from foreign currency hedging activities .................
.
(2,492) 69 3,519
Tax effect .....................................................................................................
.
155 26 (654)
Unrealized gain (loss) from foreign currency hedging activities .................
.
(2,337) 95 2,865
Unrealized investment gain (loss) ................................................................
.
629 (166) 724
Tax effect .....................................................................................................
.
(250) 66 (310)
Unrealized investment gain (loss) ................................................................
.
379 (100) 414
Pension adjustment gain (loss) .....................................................................
.
(10,222) 6,207 (7,638)
Tax effect .....................................................................................................
.
2,781 (1,336) 2,187
Pension adjustment gain (loss) .....................................................................
.
(7,441) 4,871 (5,451)
Comprehensive income ................................................................................
.
$ 338,339 $ 485,802 $ 454,563