BOSTON SCIENTIFIC CORP | 2013 | FY | 3


CHANGES IN OTHER COMPREHENSIVE INCOME

The following table provides the reclassifications out of other comprehensive income for the years ended December 31, 2013 and December 31, 2012. Amounts in the chart below are presented net of tax.

Year Ended December 31, 2013
 
 
 
 
(in millions)
Foreign currency translation adjustments
Unrealized gains/losses on derivative financial instruments
Defined benefit pension items / Other
Total
Beginning Balance
$(26)
$34
$(41)
$(33)
Other comprehensive income (loss) before reclassifications
10
130
31
171
(Gain)/Loss reclassified from accumulated other comprehensive income
(23)
(9)
(32)
Net current-period other comprehensive income
10
107
22
139
Ending Balance
$(16)
$141
$(19)
$106
 
 
 
 
 
Year Ended December 31, 2012
 
 
 
 
(in millions)
Foreign currency translation adjustments
Unrealized gains/losses on derivative financial instruments
Defined benefit pension items / Other
Total
Beginning Balance
$(58)
$(48)
$(32)
$(138)
Other comprehensive income (loss) before reclassifications
32
59
1
92
(Gain)/Loss reclassified from accumulated other comprehensive income
23
(10)
13
Net current-period other comprehensive income
32
82
(9)
105
Ending Balance
$(26)
$34
$(41)
$(33)

The income tax impact of the amounts in other comprehensive income for unrealized gains/losses on derivative financial instruments before reclassifications was an expense of $77 million in the year ended December 31, 2013 and an expense of $36 million in the year ended December 31, 2012. The gains and losses on derivative financial instruments reclassified from accumulated other comprehensive income were reduced by income tax impacts of $14 million in the year ended December 31, 2013 and $14 million in the year ended December 31, 2012. Refer to Note E – Fair Value Measurements for further detail on the reclassifications related to derivatives.
The income tax impact of the amounts in other comprehensive income for defined benefit and pension items before reclassifications was an expense of $15 million in the year ended December 31, 2013 and an expense of $1 million in the year ended December 31, 2012. The gains and losses on defined benefit and pension items reclassified from accumulated other comprehensive income were reduced by income tax impacts of $6 million in the year ended December 31, 2013 and $8 million in the year ended December 31, 2012.

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