Pitney Bowes 2015 Annual Report Download - page 102

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PITNEY BOWES INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Tabular dollars in thousands, except per share amounts)
86
Changes in accumulated other comprehensive loss for the years ended December 31, 2015, 2014 and 2013 were as follows:
Cash flow
hedges
Available-for-
sale securities
Pension and
postretirement
benefit plans
Foreign
currency
adjustments Total
Balance January 1, 2013 $(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) 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)
Other comprehensive income (loss) before
reclassifications (a) 546 (1,715) 19,146 (91,436) (73,459)
Amounts reclassified from accumulated other
comprehensive income (loss) (a), (b), (c) 231 (715) 28,165 3,299 30,980
Net other comprehensive income (loss) 777 (2,430) 47,311 (88,137) (42,479)
Balance at December 31, 2015 $(3,912) $ 536 $ (738,768)$ (146,491) $ (888,635)
(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.
21. Stock-Based Compensation Plans
The following table shows stock-based compensation expense included in the Consolidated Statements of Income:
Years Ended December 31,
2015 2014 2013
Cost of equipment sales $ 998 $ 1,004 $ 886
Cost of software 211 95 —
Cost of support services 786 607 382
Cost of business services 845 694 527
Selling, general and administrative 16,460 14,028 11,099
Research and development 1,749 1,018 435
Discontinued operations (1) —— 1,592
Stock-based compensation expense 21,049 17,446 14,921
Tax benefit (8,083)(6,699) (5,759)
Stock-based compensation expense, net of tax $ 12,966 $ 10,747 $ 9,162
(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.