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ADOBE SYSTEMS INCORPORATED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
97
NOTE 13. STOCKHOLDERS’ EQUITY
Comprehensive Income (Loss)
The components of accumulated other comprehensive income (loss) and activity, net of related taxes, for fiscal 2014 were
as follows (in thousands):
November 29,
2013 Increase /
Decrease Reclassification
Adjustments November 28,
2014
Net unrealized gains on available-for-sale securities:
Unrealized gains on available-for-sale securities ..................... $ 10,178 $ 2,084 $ (4,025) $ 8,237
Unrealized losses on available-for-sale securities.................... (937) 231 97 (609)
Total net unrealized gains on available-for-sale securities.. 9,241 2,315 (3,928)(1) 7,628
Net unrealized gains on derivative instruments designated as
hedging instruments................................................................. 5,367 41,993 (18,705)(2) 28,655
Cumulative foreign currency translation adjustments................. 31,495 (75,872) — (44,377)
Total accumulated other comprehensive income (loss),
net of taxes........................................................................... $ 46,103 $ (31,564) $ (22,633) $ (8,094)
_________________________________________
(1) Classified in interest and other income (expense), net.
(2) Classified as revenue.
The following table sets forth the taxes related to each component of other comprehensive income for fiscal 2014, 2013
and 2012 (in thousands):
2014 2013 2012
Available-for-sale securities:
Unrealized gains / losses .............................................................................. $ 1 $ 169 $ (686)
Reclassification adjustments ........................................................................ (8)(2)(1)
Subtotal available-for-sale securities.................................................. (7) 167 (687)
Derivatives designated as hedging instruments:
Unrealized gains on derivative instruments* ............................................... ———
Reclassification adjustments* ...................................................................... ———
Subtotal derivatives designated as hedging instruments .................... ———
Foreign currency translation adjustments ......................................................... (1,868) 2,789 (1,314)
Total taxes, other comprehensive income (loss).................................................. $(1,875) $ 2,956 $ (2,001)
_________________________________________
(*) Taxes related to derivative instruments were zero for all fiscal years based on the tax jurisdiction where the derivative
instruments were executed.
Stock Repurchase Program
We are currently repurchasing common stock under our $2.0 billion authority granted by our Board of Directors in April
2012.
Subsequent to November 28, 2014, as part of our $2.0 billion stock repurchase program, we entered into a structured stock
repurchase agreement with a large financial institution whereupon we provided them with a prepayment of $200.0 million. This
amount will be classified as treasury stock on our Consolidated Balance Sheets. Upon completion of the $200.0 million stock
repurchase agreement, there is no remaining balance under our current authority.