Tyson Foods 2009 Annual Report Download - page 64

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64
NOTE 13: COMPREHENSIVE INCOME (LOSS)
The components of accumulated other comprehensive income are as follows:
in millions
2009
2008
Accumulated other comprehensive income:
Currency translation adjustment
$
(21
)
$
60
Unrealized net hedging losses, net of taxes
(2
)
(8
)
Unrealized net gain (loss) on investments, net of taxes
9
(1
)
Postretirement benefits reserve adjustments
(20
)
(10
)
Total accumulated other comprehensive income (loss)
$
(34
)
$
41
The components of other comprehensive income (loss) are as follows:
in millions
Before Tax
Income Tax
After Tax
Fiscal 2009:
Currency translation adjustment
$
(43
)
$
3
$
(40
)
Currency translation adjustment gain reclassified to loss from
discontinued operation
(41
)
-
(41
)
Unrealized gain on investments
12
(5
)
7
Loss on investments reclassified to other income
4
(1
)
3
Net change in postretirement liabilities
(11
)
1
(10
)
Net hedging unrealized loss
(53
)
23
(30
)
Net hedging loss reclassified to earnings
61
(25
)
36
Other comprehensive loss – 2009
$
(71
)
$
(4
)
$
(75
)
Fiscal 2008:
Currency translation adjustment
$
(2
)
$
-
$
(2
)
Net change in postretirement liabilities
(10
)
6
(4
)
Investments unrealized loss
(1
)
-
(1
)
Net hedging unrealized gain
37
(14
)
23
Net hedging gain reclassified to earnings
(41
)
16
(25
)
Other comprehensive loss – 2008
$
(17
)
$
8
$
(9
)
Fiscal 2007:
Currency translation adjustment
$
24
$
-
$
24
Net change in pension liability, prior to adoption of new accounting
guidance (1)
9
(3
)
6
Net hedging unrealized gain
33
(13
)
20
Net hedging gain reclassified to earnings
(33
)
13
(20
)
Other comprehensive income – 2007
$
33
$
(3
)
$
30
(1) We adopted new accounting guidance in fiscal 2007 related to defined benefit and post retirement plans.
NOTE 14: STOCK-BASED COMPENSATION
We issue shares under our stock-based compensation plans by issuing Class A stock from treasury. The total number of shares
available for future grant under the Tyson Foods, Inc. 2000 Stock Incentive Plan (Incentive Plan) was 22,320,132 at October 3, 2009.
Stock Options
Shareholders approved the Incentive Plan in January 2001. The Incentive Plan is administered by the Compensation Committee of the
Board of Directors (Compensation Committee). The Incentive Plan includes provisions for granting incentive stock options for shares
of Class A stock at a price not less than the fair market value at the date of grant. Nonqualified stock options may be granted at a price
equal to, less than or more than the fair market value of Class A stock on the date the option is granted. Stock options under the
Incentive Plan generally become exercisable ratably over two to five years from the date of grant and must be exercised within 10
years from the date of grant. Our policy is to recognize compensation expense on a straight-line basis over the requisite service period
for the entire award.