Memorex 2013 Annual Report Download - page 94

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Accumulated Other Comprehensive Loss
Accumulated other comprehensive loss and related activity consisted of the following:
Gains (Losses)
on Derivative
Financial
Instruments
Defined
Benefit
Plans
Foreign
Currency
Translation Total
(In millions)
Balance as of December 31, 2012 ................................. $2.7 $(27.8) $(49.1) $(74.2)
Other comprehensive (loss) income before reclassifications, net of tax(1) .... 7.0 10.7 (4.5) 13.2
Amounts reclassified from accumulated other comprehensive loss, net of
tax ....................................................... (7.3) 5.5 — (1.8)
Net current period other comprehensive income (loss) .................. (0.3) 16.2 (4.5) 11.4
Balance as of December 31, 2013 ............................... $2.4 $(11.6) $(53.6) $(62.8)
(1) Income tax expense of $4.4 million was recorded for unrealized gains on derivative financial instruments and
$1.7 million for liability adjustments for defined benefit plans for the year ended December 31, 2013.
Details of amounts reclassified from Accumulated other comprehensive loss and the line item in our Consolidated
Statement of Operations for the year ended December 31, 2013 are as follows:
Amounts
Reclassified from
Accumulated Other
Comprehensive Loss
Affected Line Item in the Statement Where
Net Loss is Presented
(In millions)
(Gains) losses on cash flow hedges ...................... $(11.8) Cost of goods sold
Income tax expense .................................. 4.5 Income tax (benefit) provision
Net (gains) losses on cash flow hedges .................... (7.3)
Amortization of net actuarial loss ......................... 2.1 Selling, general and administrative
Pension settlement loss ............................... 3.5 Restructuring and other
Income tax benefit ................................... (0.1) Income tax (benefit) provision
Net pension adjustments, net of tax ...................... 5.5
Total reclassifications for the period .................... $ (1.8)
Income taxes are not provided for foreign translation relating to permanent investments in international subsidiaries.
Reclassification adjustments are made to avoid double counting in comprehensive loss items that are also recorded as part of
net loss and are presented net of taxes in the Consolidated Statements of Comprehensive Loss.
Note 14 — Business Segment Information and Geographic Data
In the first quarter of 2013, we revised our segment reporting to reflect changes in how we manage our business, review
operating performance and allocate resources. We now manage our business through two reporting segments, Consumer
Storage and Accessories (CSA) and Tiered Storage and Security Solutions (TSS). Our new reporting segments are generally
aligned with our key consumer and commercial channels.
We have two major product categories under our CSA segment: Consumer storage media and Audio and accessories.
Consumer storage media products include primarily optical products such as DVDs, CDs and Blu-ray disc recordable media
as well as flash media. Audio and accessories include primarily headphones, audio electronics and accessories. We have two
major product categories under our TSS segment: Commercial storage media and Storage and security solutions.
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