JCPenney 2013 Annual Report Download - page 75
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($ in millions)
(1) In accordance with accounting standards, we are required to allocate a portion of our tax provision between operating losses and accumulated other
comprehensive income. As a result, the Company recorded income tax expense in other comprehensive income/(loss)which is offset by a tax benefit on
the loss for the year. See Note 18.
(2) During the second quarter of 2012, the reclassification adjustment for the Simon Property Group, L.P. (SPG) units of $270 million was calculated by
using the closing fair market value perSPG unit of $158.13 on July 19, 2012 for the two million REIT units that were redeemed on July 20,
2012. The REIT units were redeemed at a price of $124.00 per unit (see Note 17).