Sears 2011 Annual Report Download - page 88

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SEARS HOLDINGS CORPORATION
Notes to Consolidated Financial Statements—(Continued)
Accumulated Other Comprehensive Loss
The following table displays the components of accumulated other comprehensive loss:
millions
January 28,
2012
January 29,
2011
January 30,
2010
Pension and postretirement adjustments (net of tax of $(492), $(480) and
$(451), respectively) ............................................ $(1,575) $(783) $(686)
Cumulative unrealized derivative gain (loss) (net of tax of $0, $0 and $6,
respectively) .................................................. (5) 1 9
Currency translation adjustments (net of tax of $(26), $(7) and $(29),
respectively) .................................................. (29) 3 (44)
Accumulated other comprehensive loss ............................... $(1,609) $(779) $(721)
Pension and postretirement adjustments relate to the net actuarial gain or loss on our pension and
postretirement plans recognized as a component of accumulated other comprehensive loss.
Accumulated other comprehensive loss attributable to noncontrolling interests at January 28, 2012,
January 29, 2011 and January 30, 2010 was $(9) million, $(4) million and $(132) million, respectively.
NOTE 10—INCOME TAXES
millions 2011 2010 2009
Income (loss) before income taxes
U.S. .................................................................. $(1,809) $(157) $ (67)
Foreign ............................................................... 58 323 458
Total ............................................................. $(1,751) $ 166 $ 391
Income tax expense (benefit)
Current:
Federal ........................................................... $ 19 $ 1 $(191)
State and local ..................................................... 0 (7) 14
Foreign ........................................................... 2 110 141
Total ................................................................. 21 104 (36)
Deferred:
Federal ........................................................... 1,357 (84) 127
State and local ..................................................... (35) 7 22
Foreign ........................................................... 26 — (2)
1,348 (77) 147
Total ................................................................. $1,369 $ 27 $ 111
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