Hormel Foods 2011 Annual Report Download - page 44

4
2Hormel Foods Corporation
Note
D
A
C
Q
UI
S
ITI
O
N
S
E
ffective February 1, 2010, the Com
p
any com
p
leted the
ac
q
uisition o
f
the Country Crock
®
c
h
i
ll
ed
side
dis
h
busi
n
ess
f
rom
U
n
i
leve
r
U
n
i
ted
S
t
a
t
es
I
nc
.
T
his line o
f
microwaveable
,
r
efrigerated side dishes complements the Company’s
H
orme
l
®
refrigerated entr
é
es and
Ll
oy
d’s
®
barbe
q
ue
p
roduct l
i
nes w
i
th
i
n
t
he Re
f
rigerated Foods segment. Country Croc
k
®
re
m
ai
n
s
a
registered trademark o
f
the
U
n
ilever Grou
p
of Com
p
anies and
i
s be
i
ng used under l
i
cense.
O
p
eratin
g
results
f
or this product line are included in the
C
ompany’s
C
onsolidated
S
t
atements o
f
O
perations
f
rom
the date of acquisition. Pro forma results of operations are
not presented, as the acquisition was not material to the
consolidated
C
ompany.
Note
C
E
AR
NIN
G
S
P
ER
S
HARE
D
A
T
A
B
as
i
c earn
i
ngs per share are computed us
i
ng the we
i
ghted-
average common shares outstand
i
ng. D
i
luted earn
i
ngs per
s
hare are computed us
i
ng the we
i
ghted-average common
s
hares outstandin
g
a
f
ter adjustin
g
f
or potential common
s
hares
f
rom stock options. For all years presented, the
reported net earnin
g
s attributable to the
C
ompany were used
w
hen computin
g
basic and diluted earnin
g
s per share. A rec
-
onciliation of the shares used in the computation is as follows:
(
in thousands
)
20
11
20
1
0
2009
B
as
i
c we
i
ghted-average
s
hares outstand
i
ng
2
66
,39
4
2
66
,
73
2
2
6
8,
45
4
D
ilutive potential
co
mm
o
n
sha
r
es
5,
5
2
1
3,
96
6
2,
5
2
5
D
iluted weighted-average
s
hares outstanding
2
71
,9
15
2
7
0,
6
98
2
7
0,9
7
9
F
or fiscal years 2011, 2010, and 2009, a total of 0.7 million, 3.6
million, and 1
0
.
0
million wei
g
hted-avera
g
e outstandin
g
stock
options, respectively, were not included in the computation of
dilutive potential common shares since their inclusion would
have had an antidilutive effect on earnin
g
s per share.
No
t
e
B
A
CC
U
M
U
L
A
T
ED
O
T
HER
CO
M
PREHE
NS
IV
E
L
OSS
C
omponents of accumulated other comprehensive loss are as follows:
Accu
m
ula
t
ed
F
oreig
n
D
e
f
erred
O
the
r
C
urrenc
y
Pension
&
G
ain
(
L
oss
)
C
om
p
rehensive
(
in thousands
)
T
r
a
n
s
l
a
ti
o
n
O
t
h
e
r B
e
n
e
fit
s
— Hed
g
in
g
L
oss
B
alance at
O
c
tober 26, 200
8
$
4
,24
3
$
(77,608
)
$
(40,651
)
$
(114,016
)
U
nreco
g
nized losses
(
862
)
(200,150
)
(8,323
)
(209,335
)
R
eclassi
fi
cation into net earnin
g
s
–
9
,20
0
55,05
3
6
4,25
3
T
ax e
ff
ect
–
7
2,99
6
(18,967
)
54,02
9
N
e
t o
f
tax amoun
t
(
862
)
(117,954
)
2
7,76
3
(91,053
)
A
S
C 715 measurement date adjustment (net of $912 tax effect
)
–
1
,45
9
–
1
,45
9
B
alance at
O
c
tober 25, 2009
$
3,38
1
$
(194,103
)
$
(12,888
)
$
(203,610
)
U
nreco
g
nized
g
ains (losses) 5,46
8
(38,490
)
2
3,51
1
(9,511
)
R
eclassi
fi
cation into net earnin
g
s
–
2
2,244
2
8,672 50,91
6
T
a
x
eff
ect
–
5,10
6
(18,811
)
(13,705
)
N
et o
f
tax amoun
t
5,46
8
(11,140
)
33,372
2
7,70
0
B
alance at
O
c
tober 31, 201
0
$
8,84
9
$
(205,243
)
$
2
0,484
$
(175,910
)
U
nreco
g
nized
g
ains (losses) 84
3
(15,115
)
39,48
0
2
5,20
8
R
eclassi
fi
cation into net earnin
g
s
–
2
0,36
3
(45,103
)
(24,740
)
T
ax e
ff
ect
–
(2,188
)
2
,14
7
(
41
)
N
e
t o
f
tax amoun
t
84
3
3,06
0
(3,476
)
4
27
Balance at
O
ctober
30
,
20
11
$
9
,6
92
$
(
202,183
)
$
17,
008
$
(
175,483
)