Tucows 2015 Annual Report Download - page 110

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We had approximately $0.1 million of total gross unrecognized tax benefit as of December 31, 2014 and as of
December 31, 2013, which if recognized would favorably affect our income tax rate in future periods. The unrecognized
tax benefit relates primarily to prior year Pennsylvania state franchise taxes and other insignificant U.S. state taxes.
A reconciliation of the federal statutory income tax rate to our effective tax rate is set forth in Note 9 of Notes to
Consolidated Financial Statements included in this Annual Report on Form 10-K.
OTHER COMPREHENSIVE INCOME (LOSS)
To mitigate the impact of the change in fair value of our foreign exchange contracts on our financial results, in
October 2012 we begun applying hedge accounting for the majority of the contracts we need to meet our Canadian dollar
requirements on a prospective basis. The impact of the fair value adjustment on outstanding hedged contracts for Fiscal
2014 was a net loss in other comprehensive income of $0.4 million compared to $0.3 million for Fiscal 2013.
The following table presents other comprehensive income for the periods presented:
Year ended December 31,
2014 2013
Comprehensive income $ (377,460) $ (289,085)
Increase in provision over prior period $ (88,375)
Decrease - percentage 31%
Percentage of net revenues 0
%(0)%
60
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