E-Z-GO 2009 Annual Report Download - page 79

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Notes to the Consolidated Financial Statements
70
Other Comprehensive Income (Loss)
The before and after-tax components of OCI are presented below:
Tax
Before-Tax (Expense) Net-of-Tax
(In millions) Amount Benefit Amount
2007
Foreign currency translation adjustment $ 44 $ 13 $ 57
Deferred gains on hedge contracts 75 (22) 53
Pension adjustments 73 23 96
Reclassification adjustments 55 (17) 38
Other comprehensive income $ 247 $ (3) $ 244
2008
Foreign currency translation adjustment $ (210) $ 15 $ (195)
Deferred losses on hedge contracts (91) 18 (73)
Pension adjustments (1,298) 495 (803)
Reclassification due to sale of Fluid & Power 31 4 35
Reclassification adjustments 25 (11) 14
Other comprehensive loss $ (1,543) $ 521 $ (1,022)
2009
Foreign currency translation adjustment $ 16 $ 7 $ 23
Deferred gains on hedge contracts 90 (23) 67
Pension adjustments 6 (31) (25)
Pension curtailment 25 (10) 15
Reclassification adjustments 30 (9) 21
Other comprehensive income $ 167 $ (66) $ 101
Accumulated Other Comprehensive Loss
The after-tax components of accumulated other comprehensive loss are presented below:
Pension and Deferred
Foreign Post- Gains
Currency retirement (Losses)
Translation Benefits on Hedge
(In millions) Adjustment Adjustments Contracts Total
Balance at December 30, 2006 $ 125 $ (779) $ 10 $ (644)
Other comprehensive income 57 96 53 206
Reclassification adjustments — 58 (20) 38
Balance at December 29, 2007 182 (625) 43 (400)
Other comprehensive loss (195) (803) (73) (1,071)
Reclassification due to sale of Fluid & Power 2 33 — 35
Reclassification adjustments — 31 (17) 14
Balance at January 3, 2009 (11) (1,364) (47) (1,422)
Other comprehensive income (loss) 23 (25) 67 65
Pension curtailment — 15 — 15
Reclassification adjustments (2) 20 3 21
Balance at January 2, 2010 $ 10 $ (1,354) $ 23 $ (1,321)