Hormel Foods 2014 Annual Report Download - page 45
Download and view the complete annual report
Please find page 45 of the 2014 Hormel Foods 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.43
Note B
Accumulated Other Comprehensive Loss
Components of accumulated other comprehensive loss are as follows:
Accumulated
Foreign Deferred Other
Currency Pension & Gain (Loss) Comprehensive
(in thousands) Translation Other Benefits – Hedging Loss
Balance at October 30, 2011 $ 9,692 $ (202,183) $ 17,008 $ (175,483)
Unrecognized gains (losses):
Gross 2,723 (248,434) 10,261 (235,450)
Tax effect – 93,580 (3,888) 89,692
Reclassification into net earnings:
Gross – 18,609(1) (22,319)(2) (3,710)
Tax effect – (7,037) 8,419 1,382
Net of tax amount 2,723 (143,282) (7,527) (148,086)
Balance at October 28, 2012 $ 12,415 $ (345,465) $ 9,481 $ (323,569)
Unrecognized gains (losses):
Gross (3,024) 273,408 (18,329) 252,055
Tax effect – (102,846) 6,898 (95,948)
Reclassification into net earnings:
Gross – 35,327(1) (5,871)(2) 29,456
Tax effect – (13,425) 2,217 (11,208)
Net of tax amount (3,024) 192,464 (15,085) 174,355
Balance at October 27, 2013 $ 9,391 $ (153,001) $ (5,604) $ (149,214)
Unrecognized gains (losses):
Gross (1,911) (91,684) (16,701) (110,296)
Tax effect – 34,737 6,305 41,042
Reclassification into net earnings:
Gross – 6,387(1) 10,925(2) 17,312
Tax effect – (2,425) (4,119) (6,544)
Net of tax amount (1,911) (52,985) (3,590) (58,486)
Balance at October 26, 2014 $ 7,480 $ (205,986) $ (9,194) $ (207,700)
(1) Included in computation of net periodic cost (see Note I for additional details).
(2) Included in cost of products sold in the Consolidated Statements of Operations.