Hormel Foods 2014 Annual Report Download - page 45

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43
Note B
Accumulated Other Comprehensive Loss
Components of accumulated other comprehensive loss are as follows:
Accumulated
Foreign Deferred Other
Currency Pension & Gain (Loss) Comprehensive
(in thousands) Translation Other Benefits – Hedging Loss
Balance at October 30, 2011 $ 9,692 $ (202,183) $ 17,008 $ (175,483)
Unrecognized gains (losses):
Gross 2,723 (248,434) 10,261 (235,450)
Tax effect – 93,580 (3,888) 89,692
Reclassification into net earnings:
Gross – 18,609(1) (22,319)(2) (3,710)
Tax effect – (7,037) 8,419 1,382
Net of tax amount 2,723 (143,282) (7,527) (148,086)
Balance at October 28, 2012 $ 12,415 $ (345,465) $ 9,481 $ (323,569)
Unrecognized gains (losses):
Gross (3,024) 273,408 (18,329) 252,055
Tax effect – (102,846) 6,898 (95,948)
Reclassification into net earnings:
Gross – 35,327(1) (5,871)(2) 29,456
Tax effect – (13,425) 2,217 (11,208)
Net of tax amount (3,024) 192,464 (15,085) 174,355
Balance at October 27, 2013 $ 9,391 $ (153,001) $ (5,604) $ (149,214)
Unrecognized gains (losses):
Gross (1,911) (91,684) (16,701) (110,296)
Tax effect – 34,737 6,305 41,042
Reclassification into net earnings:
Gross – 6,387(1) 10,925(2) 17,312
Tax effect – (2,425) (4,119) (6,544)
Net of tax amount (1,911) (52,985) (3,590) (58,486)
Balance at October 26, 2014 $ 7,480 $ (205,986) $ (9,194) $ (207,700)
(1) Included in computation of net periodic cost (see Note I for additional details).
(2) Included in cost of products sold in the Consolidated Statements of Operations.