Time Magazine 2011 Annual Report Download - page 105

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TIME WARNER INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
The following summary sets forth the activity within Other comprehensive income (loss) (millions):
Pretax
Tax
(provision)
benefit
Net of
tax
Year Ended December 31, 2009
Foreign currency translation adjustments .................................. $ 249 $ (27) $ 222
Unrealized gains (losses) on securities ..................................... 1 — 1
Reclassification adjustment for (gains) losses on securities realized in net income . . (20) 7 (13)
Unrealized gains (losses) on benefit obligation .............................. 190 (79) 111
Reclassification adjustment for (gains) losses on benefit obligation realized in net
income ........................................................... 122 (50) 72
Unrealized derivative financial instruments gains (losses) ..................... (7) 3 (4)
Reclassification adjustment for derivative financial instrument (gains) losses
realized in net income ............................................... 63 (24) 39
Other comprehensive income (loss) ....................................... $ 598 $ (170) $ 428
Year Ended December 31, 2010
Foreign currency translation adjustments .................................. $(128) $ (3) $ (131)
Unrealized gains (losses) on securities ..................................... (3) 1 (2)
Reclassification adjustment for (gains) losses on securities realized in net income . . 2 (1) 1
Unrealized gains (losses) on benefit obligation .............................. 42 (15) 27
Reclassification adjustment for (gains) losses on benefit obligation realized in net
income ........................................................... 43 (15) 28
Unrealized derivative financial instruments gains (losses) ..................... (2) 1 (1)
Reclassification adjustment for derivative financial instrument (gains) losses
realized in net income ............................................... 41 (15) 26
Other comprehensive income (loss) ....................................... $ (5) $ (47) $ (52)
Year Ended December 31, 2011
Foreign currency translation adjustments .................................. $ (49) $ (5) $ (54)
Unrealized gains (losses) on securities ..................................... 6 (2) 4
Unrealized gains (losses) on benefit obligation .............................. (318) 109 (209)
Reclassification adjustment for (gains) losses on benefit obligation realized in net
income ........................................................... 20 (7) 13
Unrealized derivative financial instruments gains (losses) ..................... 11 (4) 7
Reclassification adjustment for derivative financial instrument (gains) losses
realized in net income ............................................... 30 (11) 19
Other comprehensive income (loss) ....................................... $(300) $ 80 $ (220)
The following summary sets forth the components of Accumulated other comprehensive loss, net (millions):
December 31,
2011
December 31,
2010
Foreign currency translation gains (losses) .................................. $ (46) $ 8
Net unrealized gains on securities ......................................... 12 8
Net derivative financial instruments gains (losses) ............................ 10 (16)
Net unfunded/underfunded benefit obligation ................................ (828) (632)
Accumulated other comprehensive loss, net ................................. $ (852) $ (632)
91