CHS 2014 Annual Report Download - page 47

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
CHSCM and accumulates dividends at a rate of 6.75% per We made dividend payments on our preferred stock of
year until September 30, 2024, and at a rate equal to the $50.8 million, $24.5 million, and $24.5 million, during the
three-month LIBOR plus 4.155%, not to exceed 8.00% per years ended August 31, 2014, 2013 and 2012, respec-
annum, subsequent to September 30, 2024, which are pay- tively. As of August 31, 2014 we have no authorized but
able quarterly. Our Class B Series 3 Preferred Stock may be unissued shares of preferred stock.
redeemed at our option beginning September 30, 2024.
Changes in accumulated other comprehensive income (loss) by component, net of tax, for the years ended August 31,
2014 and 2013 are as follows:
PENSION UNREALIZED FOREIGN
AND OTHER NET GAIN ON CURRENCY
POSTRETIREMENT AVAILABLE FOR CASH FLOW TRANSLATION
(DOLLARS IN THOUSANDS) BENEFITS SALE INVESTMENTS HEDGES ADJUSTMENT TOTAL
Balance as of August 31, 2012 $ (228,727) $ 1,391 $ (3,806) $ (1,445) $ (232,587)
Current period other comprehensive income (loss), net
of tax 46,471 979 15,491 (3,866) 59,075
Amounts reclassified from accumulated other
comprehensive income (loss), net of tax 16,645 — — — 16,645
Net other comprehensive income (loss), net of tax 63,116 979 15,491 (3,866) 75,720
Balance as of August 31, 2013 (165,611) 2,370 11,685 (5,311) (156,867)
Current period other comprehensive income (loss), net
of tax (90) 2,028 (6,011) (1,957) (6,030)
Amounts reclassified from accumulated other
comprehensive income (loss), net of tax 13,849 — (8,396) 687 6,140
Net other comprehensive income (loss), net of tax 13,759 2,028 (14,407) (1,270) 110
Balance as of August 31, 2014 $ (151,852) $ 4,398 $ (2,722) $ (6,581) $ (156,757)
Amounts reclassified from accumulated other comprehen- interests. The following table presents the effects of
sive income (loss) were related to pension and other postre- changes in our NCRA ownership interest on CHS Inc. equi-
tirement benefits, cash flow hedges and foreign currency ties for the years ended August 31, 2014, 2013, and 2012.
translation adjustments, and were recorded to net income.
(DOLLARS IN THOUSANDS) 2014 2013 2012
Pension and other postretirement reclassifications include
Net income attributable to
amortization of net actuarial loss, prior service credit and CHS Inc. $ 1,081,435 $992,386 $1,260,628
transition amounts as disclosed in Note 10, Benefit Plans. In
Transfers to noncontrolling
February 2014, interest rate swaps, which were previously interests:
accounted for as cash flow hedges, were terminated as the
Decrease in CHS Inc.
issuance of the underlying debt was no longer probable. As a capital reserves for
result, a $13.5 million gain was reclassified from accumulated purchase of
other comprehensive loss into net income. This pre-tax gain is noncontrolling
included as a component of interest, net in our Consolidated interests — — (82,138)
Statement of Operations for the year ended August 31, 2014. Changes from net income
attributable to CHS Inc.
and transfers to
noncontrolling interests $ 1,081,435 $992,386 $ 1,178,490
As described in Note 17, Acquisitions, we have a firm com-
mitment to purchase the remaining NCRA noncontrolling
CHS 2014 45
Accumulated Other Comprehensive Loss
Noncontrolling Interests