AbbVie 2014 Annual Report Download - page 98
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13NOV201221352027
The table below presents the significant amounts reclassified out of each component of accumulated
other comprehensive loss for the years ended December 31, 2014 and 2013:
years ended December 31 (in millions) 2014 2013
Pension and post-employee benefits
Amortization of actuarial losses and other $ 66 $114
Less tax expense (20) (35)
Total reclassification, net of tax $ 46 $ 79
Hedging activities
Gains (losses) on designated cash flow hedges $(79) $ —
Less tax expense 2—
Total reclassification, net of tax $(77) $ —
Other
In addition to common stock, AbbVie’s authorized capital includes 200 million shares of preferred
stock, par value $0.01. As of December 31, 2014, no shares of preferred stock were issued or outstanding.
Note 13 Income Taxes
.....................................................................................................................................................................................................................................................................................................................................................
Earnings Before Income Taxes
years ended December 31 (in millions) 2014 2013 2012
Domestic $(3,245) $ (581) $ 625
Foreign 5,614 5,913 5,100
Total earnings before income taxes $ 2,369 $5,332 $5,725
The increase in the domestic loss before income taxes for the year ended December 31, 2014 was
driven by transaction and financing-related costs associated with the terminated proposed combination with
Shire. Refer to Note 4 for further information.
Income Taxes
years ended December 31 (in millions) 2014 2013 2012
Current
Domestic $ 634 $ 226 $ 94
Foreign 341 354 252
Total current taxes $ 975 $ 580 $346
Deferred
Domestic $(301) $ 678 $ 89
Foreign (79) (54) 15
Total deferred taxes (380) 624 104
Total income taxes $ 595 $1,204 $450
92 2014 Form 10-K