Xerox 2011 Annual Report Download - page 104

Download and view the complete annual report

Please find page 104 of the 2011 Xerox annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 116

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116

102
Note 19 – Comprehensive Income
Other Comprehensive Income is composed of the following:
Year Ended December 31,
2011 2010 2009
Pre-tax Net of Tax Pre-tax Net of Tax Pre-tax Net of Tax
Translation Adjustments (Losses) Gains $ (103) $ (105) $ (29) $ (35) $ 583 $ 596
Unrealized Gains (Losses):
Changes in fair value of cash flow hedges –
gains (losses) 30 22 46 31 (1) (1)
Changes in cash flow hedges reclassed
to earnings(1) (14) (9) (28) (18) 2 2
Other (1) (1) (1) (1) 1 1
Net unrealized gains (losses) 15 12 17 12 2 2
Defined Benefit Plans (Losses) Gains:
Actuarial/Prior service (losses) gains (872) (607) (106) (191) (135) (54)
Actuarial/Prior service amortization(2) 89 60 91 164 33 13
Curtailment gain – recognition of prior
service credit (107) (66) — — — —
Fuji Xerox changes in defined benefit
plans, net(3) (31) (31) 28 28 (36) (36)
Other(4) 8 8 22 22 (92) (92)
Change in defined benefit plans (losses) gains (913) (636) 35 23 (230) (169)
Other Comprehensive (Loss) Income, Net (1,001) (729) 23 — 355 429
Less: Other comprehensive (loss) income
attributable to noncontrolling interests (1) (1) — — 1 1
Other Comprehensive (Loss) Income
Attributable to Xerox $ (1,000) (728) 23 — 354 428
(1) Reclassified to Cost of sales – refer to Note 12 – Financial Instruments for additional information regarding our cash flow hedges.
(2) Reclassified to Total Net Periodic Benefit Cost – refer to Note 14 – Employee Benefit Plans for additional information.
(3) Represents our share of Fuji Xerox’s benefit plan changes.
(4) Primarily represents currency impact on cumulative amount of benefit plan net actuarial losses and prior service credits included in AOCL.
Accumulated Other Comprehensive Loss (“AOCL”)
AOCL is composed of the following:
December 31,
2011 2010 2009
Cumulative translation
adjustments $ (939) $ (835) $ (800)
Benefit plans net actuarial losses
and prior service credits(1) (1,803) (1,167) (1,190)
Other unrealized gains, net 26 14 2
Total Accumulated Other
Comprehensive Loss $ (2,716) $ (1,988) $ (1,988)
(1) Includes our share of Fuji Xerox.
Notes to the Consolidated
Financial Statements
(in millions, except per-share data and where otherwise noted)