Pitney Bowes 2014 Annual Report Download - page 92

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PITNEY BOWES INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Tabular dollars in thousands, except per share amounts)
82
Changes in accumulated other comprehensive loss for the years ended December 31, 2014, 2013 and 2012 were as follows:
Gains (losses) on
cash flow hedges
Unrealized gains
(losses) on
available for sale
securities
Defined benefit
pension plans and
nonpension
postretirement
benefit plans
Foreign
currency items Total
Balance January 1, 2012 $(8,438) $ 4,387 $ (741,546) $ 83,952 $ (661,645)
Other comprehensive income (loss) before
reclassifications (a) 104 1,240 (70,232)(2,702) (71,590)
Amounts reclassified from accumulated other
comprehensive income (loss) (a), (b) 557 (1,114) 52,579 — 52,022
Net other comprehensive income (loss) 661 126 (17,653)(2,702) (19,568)
Balance at December 31, 2012 (7,777) 4,513 (759,199) 81,250 (681,213)
Other comprehensive income (loss) before
reclassifications (a) (147)(7,000) 122,023 (39,489) 75,387
Amounts reclassified from accumulated other
comprehensive income (loss) (a), (b), (c) 1,544 718 35,755 (6,747) 31,270
Net other comprehensive income (loss) 1,397 (6,282) 157,778 (46,236) 106,657
Balance at December 31, 2013 (6,380)(1,769)(601,421) 35,014 (574,556)
Other comprehensive income (loss) before
reclassifications (a) 1,146 4,010 (212,818)(89,584) (297,246)
Amounts reclassified from accumulated other
comprehensive income (loss) (a), (b), (c) 545 725 28,160 (3,784) 25,646
Net other comprehensive income (loss) 1,691 4,735 (184,658)(93,368) (271,600)
Balance at December 31, 2014 $(4,689) $ 2,966 $ (786,079)$ (58,354) $ (846,156)
(a) Amounts are net of tax. Amounts in parentheses indicate debits to AOCI.
(b) See table above for additional details of these reclassifications.
(c) Foreign currency item amount represents the recognition of deferred translation upon the sale of certain businesses.
20. Stock-Based Compensation Plans
The following table shows stock-based compensation expense included in the Consolidated Statements of Income:
Years Ended December 31,
2014 2013 2012
Cost of equipment sales $ 1,004 $ 886 $ 1,212
Cost of software 95 ——
Cost of support services 607 382 522
Cost of business services 694 527 721
Selling, general and administrative 14,028 11,099 15,176
Research and development 1,018 435 596
Discontinued operations (1) —1,592 —
Stock-based compensation expense 17,446 14,921 18,227
Tax benefit (5,776)(5,759) (6,061)
Stock-based compensation expense, net of tax $ 11,670 $ 9,162 $ 12,166
(1) Amount represents the expense related to the immediate vesting of restricted stock units and stock options held by employees of PBMS upon the sale of the business.