IBM 2013 Annual Report Download - page 119

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Notes to Consolidated Financial Statements
International Business Machines Corporation and Subsidiary Companies
118
($ in millions)
For the year ended December 31, 2011:
Before Tax
Amount
Tax (Expense)/
Benefit
Net of Tax
Amount
Other comprehensive income/(loss)
Foreign currency translation adjustments $ (693) $ (18) $ (711)
Net changes related to available-for-sale securities
Unrealized gains/(losses) arising during the period $ (14) $ 5 $ (9)
Reclassification of (gains)/losses to other (income) and expense (231)88 (143)
Subsequent changes in previously impaired securities arising during the period 4 (1) 3
Total net changes related to available-for-sale securities $ (241) $ 91 $ (150)
Unrealized gains/(losses) on cash flow hedges
Unrealized gains/(losses) arising during the period $ (266) $ 105 $ (162)
Reclassification of (gains)/losses to:
Cost of sales 182 (61) 121
SG&A expense 75 (23) 52
Other (income) and expense 247 (3) 244
Interest expense 8 (95) (88)
Total unrealized gains/(losses) on cash flow hedges $ 245 $ (77) $ 167
Retirement-related benefit plans(1)
Prior service costs/(credits) $ (28) $ 7 $ (22)
Net (losses)/gains arising during the period (5,463) 1,897 (3,566)
Curtailments and settlements 11 (3) 7
Amortization of prior service (credits)/cost (157) 62 (94)
Amortization of net (gains)/losses 1,847 (619) 1,227
Total retirement-related benefit plans $(3,790) $1,343 $(2,448)
Other comprehensive income/(loss) $(4,479) $1,339 $(3,142)
(1) These AOCI components are included in the computation of net periodic pension cost. (See note S, “Retirement-Related Benefits,” on pages 127 to 141 for additional information.)
Accumulated Other Comprehensive Income/(Loss) (net of tax)
($ in millions)
Net Unrealized
Gains/(Losses)
on Cash Flow
Hedges
Foreign
Currency
Translation
Adjustments*
Net Change
Retirement-
Related
Benefit
Plans
Net Unrealized
Gains/(Losses)
on Available-
For-Sale
Securities
Accumulated
Other
Comprehensive
Income/(Loss)
December 31, 2010 $ (96) $ 2,478 $(21,289) $164 $(18,743)
Other comprehensive income before reclassifications (162) (711) (3,581) (7) (4,461)
Amount reclassified from accumulated other comprehensive income 329 0 1,133 (143) 1,319
Total change for the period 167 (711) (2,448) (150) (3,142)
December 31, 2011 71 1,767 (23,737) 13 (21,885)
Other comprehensive income before reclassifications 5 (34) (5,164) 16 (5,177)
Amount reclassified from accumulated other comprehensive income (167) 0 1,495 (25) 1,303
Total change for the period (161) (34) (3,669) (9) (3,874)
December 31, 2012 (90) 1,733 (27,406) 4 (25,759)
Other comprehensive income before reclassifications 28 (1,401) 3,409 0 2,036
Amount reclassified from accumulated other comprehensive income (103) 0 2,229 (5) 2,121
Total change for the period (76) (1,401) 5,639 (5) 4,157
December 31, 2013 $(165) $ 332 $(21,767) $ (1 ) $(21,602)
* Foreign currency translation adjustments are presented gross except for any associated hedges which are presented net of tax.