UPS 2014 Annual Report Download - page 110
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UNITED PARCEL SERVICE, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
98
Detail of the gains (losses) reclassified from AOCI to the statements of consolidated income for the years ended
December 31, 2014, 2013 and 2012 is as follows (in millions):
2014 Amount
Reclassified
from AOCI
2013 Amount
Reclassified
from AOCI
2012 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 1 5 9 Investment income
Income tax (expense) benefit — (2)(3) Income tax expense
Impact on net income 1 3 6 Net income
Unrealized gain (loss) on cash flow hedges:
Interest rate contracts (23)(22)(22) Interest expense
Foreign exchange contracts (48) 18 24 Interest expense
Foreign exchange contracts (24)(53) 61 Revenue
Commodity contracts —(48) — Fuel expense
Income tax (expense) benefit 35 39 (24) Income tax expense
Impact on net income (60)(66) 39 Net income
Unrecognized pension and postretirement benefit costs:
Prior service costs (170)(178)(5,011)Compensation and
benefits
Settlement and curtailment loss (356)— —
Compensation and
benefits
Remeasurement of benefit obligation (1,806)— —
Compensation and
benefits
Income tax (expense) benefit 870 67 1,876 Income tax expense
Impact on net income (1,462)(111)(3,135) Net income
Total amount reclassified for the period $(1,521)$ (13)$ (3,090) Net income