Big Lots 2013 Annual Report Download - page 217
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75
NOTE 15 – COMPONENTS OF ACCUMULATED OTHER COMPREHENSIVE LOSS
The following table summarizes the components of accumulated other comprehensive loss, net of tax, during 2011, 2012, and
2013:
(In thousands)
Foreign currency
translation Pension Plan
Total accumulated
other comprehensive
loss
Balance at Januar
y
29, 2011 $
—
$ (10,470) $ (10,470)
Other comprehensive income before reclassifications (1,050) (5,244) (6,294)
Amounts reclassified from accumulated other
comprehensive loss
—
1,245
1,245
Period change (1,050) (3,999) (5,049)
Balance at Januar
y
28, 2012 (1,050) (14,469) (15,519)
Other comprehensive income before reclassifications (383) 989 606
Amounts reclassified from accumulated other
comprehensive loss
—
1,583
1,583
Period change (383) 2,572 2,189
Balance at Februar
y
2, 2013 (1,433) (11,897) (13,330)
Other comprehensive income before reclassifications (3,589) 2,352 (1,237)
Amounts reclassified from accumulated other
comprehensive loss
—
1,056
1,056
Period change (3,589) 3,408 (181)
Balance at Februar
y
1, 2014 $(5,022) $ (8,489) $ (13,511)
The amounts reclassified from accumulated other comprehensive income associated with our pension plans have been
reclassified to selling and administrative expenses in our statement of operations. Please see note 18 to the consolidated
financial statements for further information on our pension plans.
NOTE 16 - SALE OF REAL ESTATE
In October 2013, we sold company-owned real property in California, on a component of which we operate a store, for $5.1
million. Concurrently with the sale, we entered into a lease agreement with the purchaser of the property which allows us to
continue to operate our store on an uninterrupted basis. As a result of the sale and concurrent leaseback, we determined that
only a portion of the gain on the transaction could be recognized currently. Based on the terms of the transaction, we
recognized a gain of $3.6 million during the third quarter of 2013 and deferred a gain of $0.8 million, which will be amortized
over the committed lease term.