Western Union 2010 Annual Report Download - page 111
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13. Stockholders’ Equity
Accumulated other comprehensive loss
Accumulated other comprehensive loss includes all changes in equity during a period that have yet to be
recognized in income, except those resulting from transactions with shareholders. The major components include
unrealized gains and losses on investment securities, gains or losses from cash flow hedging activities, foreign
currency translation adjustments and pension liability adjustments.
Unrealized gains and losses on investment securities that are available for sale, primarily state and municipal
debt securities, are included in accumulated other comprehensive loss until the investment is either sold or deemed
other-than-temporarily impaired. See Note 7 for further discussion.
The effective portion of the change in fair value of derivatives that qualify as cash flow hedges are recorded in
accumulated other comprehensive loss. Generally, amounts are recognized in income when the related forecasted
transaction affects earnings. See Note 14 for further discussion.
The assets and liabilities of foreign subsidiaries whose functional currency is not the United States dollar are
translated using the appropriate exchange rate as of the end of the year. Foreign currency translation adjustments
represent unrealized gains and losses on assets and liabilities arising from the difference in the foreign country
currency compared to the United States dollar. These gains and losses are accumulated in comprehensive income.
When a foreign subsidiary is substantially liquidated, the cumulative translation gain or loss is removed from
“Accumulated other comprehensive loss” and is recognized as a component of the gain or loss on the sale of the
subsidiary.
A pension liability adjustment associated with the defined benefit pension plan is recognized for the difference
between estimated assumptions (e.g., asset returns, discount rates, mortality) and actual results. The amount in
“Accumulated other comprehensive loss” is amortized to income over the remaining life expectancy of the plan
participants. Details of the pension plan’s assets and obligations are explained further in Note 11.
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