Estee Lauder 2014 Annual Report Download - page 107

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THE EST{E LAUDER COMPANIES INC. 105
NOTE 17
—
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
The components of AOCI included in the accompanying consolidated balance sheets consist of the following:
YEAR ENDED JUNE 30 2014 2013 2012
(In millions)
Net unrealized investment gains (losses), beginning of year $ 0.8 $ 0.5 $ 0.5
Unrealized investment gains (losses) 0.9 0.4 0.1
Benefit (provision) for deferred income taxes (0.3) (0.1) (0.1)
Net unrealized investment gains, end of year 1.4 0.8 0.5
Net derivative instruments, beginning of year 18.3 17.4 (0.7)
Gain (loss) on derivative instruments (22.2) 10.3 40.2
Benefit (provision) for deferred income taxes on derivative instruments 7.9 (3.6) (14.3)
Reclassification to earnings during the year:
Foreign currency forward contracts(1) (7.2) (8.8) (11.7)
Settled interest rate-related derivatives(2) (0.3) (0.3) (0.3)
Benefit (provision) for deferred income taxes on reclassification(3) 2.6 3.3 4.2
Net derivative instruments, end of year (0.9) 18.3 17.4
Net pension and post-retirement adjustments, beginning of year (213.7) (293.5) (199.0)
Changes in plan assets and benefit obligations:
Net actuarial gains (losses) recognized (42.1) 92.8 (176.9)
Net prior service credit (cost) recognized 6.7 — 2.0
Translation adjustments (10.2) 3.5 7.6
Benefit (provision) for deferred income taxes 10.4 (36.8) 60.4
Amortization of amounts included in net periodic benefit cost(4):
Net actuarial (gains) losses 18.0 28.9 14.7
Net prior service cost (credit) 4.4 4.3 4.3
Net transition asset (obligation) — (0.1) —
Benefit (provision) for deferred income taxes on reclassification (6.5) (12.8) (6.6)
Net pension and post-retirement adjustments, end of year (233.0) (213.7) (293.5)
Cumulative translation adjustments, beginning of year 37.1 62.7 216.9
Translation adjustments 96.7 (24.5) (156.6)
Benefit (provision) for deferred income taxes (1.6) (1.1) 2.4
Cumulative translation adjustments, end of year 132.2 37.1 62.7
Accumulated other comprehensive income (loss) $(100.3) $(157.5) $(212.9)
20142014
$ 0.8$ 0.8
0.90.9
(0.3)(0.3)
1.41.4
18.318.3
(22.2)(22.2)
7.97.9
(7.2)(7.2)
(0.3)(0.3)
2.62.6
(0.9)(0.9)
(213.7)(213.7)
(42.1)(42.1)
6.76.7
(10.2)(10.2)
10.410.4
18.018.0
4.44.4
——
(6.5)(6.5)
(233.0)(233.0)
37.137.1
96.796.7
(1.6)(1.6)
132.2132.2
$(100.3)$(100.3)
(1) For the year ended June 30, 2014, $4.5 million and $2.7 million were recorded in Cost of Sales and Selling, general and administrative expenses,
respectively, in the accompanying consolidated statement of earnings.
(2) For the year ended June 30, 2014, $0.3 million was recorded in Interest expense, net in the accompanying consolidated statement of earnings.
(3)
For the year ended June 30, 2014, $2.6 million was recorded in Provision for income taxes in the accompanying consolidated statement of earnings.
(4) See Note 12 — Pension, Deferred Compensation and Post-Retirement Benefit Plans for additional information.