UPS 2013 Annual Report Download - page 108
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UNITED PARCEL SERVICE, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
96
Detail of the gains (losses) reclassified from AOCI to the statements of consolidated income for the years ended
December 31, 2013, 2012 and 2011 is as follows (in millions):
2013 Amount
Reclassified
from AOCI
2012 Amount
Reclassified
from AOCI
2011 Amount
Reclassified
from AOCI Affected Line Item in the
Income Statement
Foreign currency translation gain (loss):
Liquidation of foreign subsidiary $ 161 $ — $ — Other expenses
Income tax (expense) benefit — — — Income tax expense
Impact on net income 161 — — Net income
Unrealized gain (loss) on marketable securities:
Realized gain (loss) on sale of securities 5 9 38 Investment income
Income tax (expense) benefit (2)(3)(14) Income tax expense
Impact on net income 3 6 24 Net income
Unrealized gain (loss) on cash flow hedges:
Interest rate contracts (22)(22)(19) Interest expense
Foreign exchange contracts 18 24 13 Interest expense
Foreign exchange contracts (53) 61 (101) Revenue
Commodity contracts (48) — 9 Fuel expense
Income tax (expense) benefit 39 (24) 37 Income tax expense
Impact on net income (66) 39 (61) Net income
Unrecognized pension and postretirement benefit costs:
Prior service costs (178)(5,011)(1,006)Compensation and
benefits
Income tax (expense) benefit 67 1,876 378 Income tax expense
Impact on net income (111)(3,135)(628) Net income
Total amount reclassified for the period $(13) $ (3,090) $ (665) Net income