Kraft 2014 Annual Report Download - page 70

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The components of, and changes in, accumulated other comprehensive losses were as follows (net of tax):
Amounts reclassified from accumulated other comprehensive losses in the years ended December 27, 2014 and December 28,
2013 were as follows:
65
Foreign
Currency
Adjustments
Postemployment
Benefit Plan
Adjustments
Derivative
Hedging
Adjustments
Total
Accumulated Other
Comprehensive
Losses
(in millions)
Balance at December 29, 2012 $(359 ) $ 51 $(152) $(460 )
Other comprehensive (losses) / gains
before reclassifications (68 ) 19 20 (29)
Amounts reclassified from
accumulated other comprehensive
losses — (13 ) 3 (10)
Net current-period other comprehensive
(losses) / earnings (68 ) 6 23 (39)
Balance at December 28, 2013 $(427 ) $ 57 $(129) $(499 )
Other comprehensive (losses) / gains
before reclassifications (91 ) 36 56 1
Amounts reclassified from
accumulated other comprehensive
losses — (12 ) (52) (64)
Net current-period other comprehensive
(losses) / earnings (91 ) 24 4 (63)
Balance at December 27, 2014 $(518 ) $ 81 $(125) $(562 )
Amount Reclassified from
Accumulated Other Comprehensive
Losses
For the Years Ended
Details about Accumulated Other Comprehensive Losses
Components
December 27,
2014
December 28,
2013
Affected Line Item in
the Statement Where
Net Income is Presented
(in millions)
Derivative hedging (gains) / losses
Commodity contracts $ (30 ) $ 42 Cost of sales
Foreign exchange contracts (17 ) (11 ) Cost of sales
Foreign exchange contracts (50 ) (39 ) Interest and other expense, net
Interest rate contracts 13 12 Interest and other expense, net
Total before tax (84 ) 4 Earnings before income taxes
Tax benefit / (expense) 32 (1 ) Provision for income taxes
Net of tax $ (52 ) $3
Net earnings
Postemployment benefit plan adjustments
Amortization of prior service credits $(23 ) $(22 )
(1)
Curtailments 3 —
(1)
Total before tax (20 ) (22 ) Earnings before income taxes
Tax benefit 8 9 Provision for income taxes
Net of tax $(12 ) $(13 ) Net earnings
(1) These accumulated other comprehensive losses components are included in the computation of net periodic pension and postretirement health care
costs. See Note 9, Postemployment Benefit Plans , for additional information.