Baker Hughes 2013 Annual Report Download - page 107

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Baker Hughes Incorporated77
Baker Hughes Incorporated
Notes to Consolidated Financial Statements
on our consolidated financial statements. We also had commitments outstanding for purchase obligations related to
capital expenditures, inventory and services under contracts, for each of the five years in the period ending
December 31, 2018 of $483 million, $419 million, $259 million, $222 million and $121 million, respectively, and $168
million in the aggregate thereafter.
NOTE 12. ACCUMULATED OTHER COMPREHENSIVE LOSS
The following table presents the changes in accumulated other comprehensive loss, net of tax:
Pensions and
Other
Postretirement
Benefits
Foreign
Currency
Translation
Adjustments
Accumulated
Other
Comprehensive
Loss
Balance at December 31, 2011 $ (251) $ (304) $ (555)
Other comprehensive income before reclassifications:
Foreign currency translation adjustments 78 78
Pensions and other postretirement benefits:
Actuarial net loss arising in the year (66) (66)
Plan amendments 60 60
Foreign currency translation adjustments (4) (4)
Deferred taxes (6) (6)
Amounts reclassified from accumulated other comprehensive loss:
Amortization of net actuarial loss 22 22
Amortization of prior service credit (2) (2)
Curtailment/settlements 4 4
Deferred taxes (7) (7)
Balance at December 31, 2012 (250) (226) (476)
Other comprehensive income before reclassifications:
Foreign currency translation adjustments (61) (61)
Pensions and other postretirement benefits:
Actuarial net gain arising in the year 38 38
Deferred taxes (17) (17)
Amounts reclassified from accumulated other comprehensive loss:
Amortization of net actuarial loss 23 23
Amortization of prior service credit (7) (7)
Curtailment/settlements 2 2
Deferred taxes (6) (6)
Balance at December 31, 2013 $ (217) $ (287) $ (504)
The amounts reclassified from accumulated other comprehensive loss during the twelve months ended
December 31, 2013 and 2012 represent the amortization of net actuarial loss, prior service credit and curtailments
and settlements which are included in the computation of net periodic pension cost (see Note 10. Employee Benefit
Plans for additional details). Net periodic pension cost is recorded in cost of sales and services, research and
engineering, and marketing, general and administrative expenses.