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Table of Contents
ADOBE SYSTEMS INCORPORATED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
94
NOTE 13. STOCKHOLDERS’ EQUITY
Comprehensive Income (Loss)
The components of accumulated other comprehensive income (loss) and activity, net of related taxes, for fiscal 2015 were
as follows (in thousands):
November 28,
2014 Increase /
Decrease Reclassification
Adjustments November 27,
2015
Net unrealized gains on available-for-sale securities:
Unrealized gains on available-for-sale securities $ 8,237 $ (2,386) $ (3,309) $ 2,542
Unrealized losses on available-for-sale securities (609)(6,840) 354 (7,095)
Total net unrealized gains on available-for-sale securities 7,628 (9,226)(2,955)(1) (4,553)
Net unrealized gains on derivative instruments designated as
hedging instruments 28,655 29,795 (55,535)(2) 2,915
Cumulative foreign currency translation adjustments (44,377)(123,065) — (167,442)
Total accumulated other comprehensive income (loss),
net of taxes $ (8,094) $ (102,496) $ (58,490) $ (169,080)
_________________________________________
(1) Reclassification adjustments for gains / losses on available-for-sale securities are classified in interest and other income
(expense), net.
(2) Reclassification adjustments for loss on the interest rate lock agreement and gains / losses on other derivative instruments are
classified in interest and other income (expense), net and revenue, respectively.
The following table sets forth the taxes related to each component of other comprehensive income for fiscal 2015, 2014
and 2013 (in thousands):
2015 2014 2013
Available-for-sale securities:
Unrealized gains / losses $ (154) $ 1 $ 169
Reclassification adjustments — (8)(2)
Subtotal available-for-sale securities (154)(7) 167
Derivatives designated as hedging instruments:
Unrealized gains on derivative instruments*6,147 — —
Reclassification adjustments*(550) — —
Subtotal derivatives designated as hedging instruments 5,597 — —
Foreign currency translation adjustments (3,378)(1,868) 2,789
Total taxes, other comprehensive income (loss) $ 2,065 $ (1,875) $ 2,956
_________________________________________
(*) Taxes related to derivative instruments other than the interest rate lock agreement were zero based on the tax jurisdiction
where these derivative instruments were executed.
Stock Repurchase Program
To facilitate our stock repurchase program, designed to return value to our stockholders and minimize dilution from stock
issuances, we may repurchase shares in the open market or enter into structured repurchase agreements with third parties. In the
first quarter of fiscal 2015, the Board of Directors approved a new stock repurchase program granting the Company authority to
repurchase up to $2 billion in common stock through the end of fiscal 2017.