Note 10: Comprehensive Income (Loss)
The components of accumulated other comprehensive loss, net of tax at the end of the period, as well as the activity during the period, were as follows:
Accumulated Foreign Currency Translation Adjustment |
Accumulated Unrealized Holding Gain (Loss) on Cash Flow Hedges |
Accumulated Unrealized Holding Gain (Loss) on Available-for-Sale Investments |
Accumulated Unrealized Components of Defined Benefit Plans |
Total | ||||||||||||||||
(in thousands) | ||||||||||||||||||||
Balance as of June 24, 2012 |
$ | (22,481 | ) | $ | (212 | ) | $ | (308 | ) | $ | (10,817 | ) | $ | (33,818 | ) | |||||
Other comprehensive income (loss) before relcassifications |
5,303 | 10,607 | (3,844 | ) | (3,505 | ) | 8,561 | |||||||||||||
Losses (gains) reclassified from accumulated other comprehensive income to net income |
— | (7,573 | ) (1) | 4,137 | (2) | — | (3,436 | ) | ||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net current-period other comprehensive income (loss) |
$ | 5,303 | $ | 3,034 | $ | 293 | $ | (3,505 | ) | $ | 5,125 | |||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Balance as of June 30, 2013 |
$ | (17,178 | ) | $ | 2,822 | $ | (15 | ) | $ | (14,322 | ) | $ | (28,693 | ) | ||||||
|
|
|
|
|
|
|
|
|
|
(1) | Amount of after tax gain reclassified from accumulated other comprehensive income into net income located in revenue: $8,932 gain, cost of goods sold: $1,048 loss and selling, general and administrative expenses: $311 loss. |
(2) | Amount of loss reclassified from accumulated other comprehensive income into net income located in other expense, net |
Tax related to the components of other comprehensive income during the period were as follows:
Year Ended | ||||||||||||
June 30, | June 24, | June 26, | ||||||||||
2013 | 2012 | 2011 | ||||||||||
(in thousands) | ||||||||||||
Tax benefit (expense) on change in unrealized gains/losses on cash flow hedges: |
||||||||||||
Tax expense on unrealized gains/losses arising during the period |
$ | (1,312 | ) | $ | — | $ | — | |||||
Tax expense on gains/losses reclassified to earnings |
818 | — | — | |||||||||
|
|
|
|
|
|
|||||||
(494 | ) | — | — | |||||||||
|
|
|
|
|
|
|||||||
Tax benfit (expense) on change in unrealized gains/losses on available-for-sale investments: |
||||||||||||
Tax benefit (expense) on unrealized gains/losses arising during the period |
1,428 | 233 | (120 | ) | ||||||||
Tax (benefit) expense on gains/losses reclassified to earnings |
(2,026 | ) | 474 | 436 | ||||||||
|
|
|
|
|
|
|||||||
(598 | ) | 707 | 316 | |||||||||
|
|
|
|
|
|
|||||||
Tax benefit on change in unrealized components of defined benefit plans |
586 | 944 | 2,162 | |||||||||
|
|
|
|
|
|
|||||||
Tax benefit (expense) on other comprehensive income (loss) |
$ | (506 | ) | $ | 1,651 | $ | 2,478 | |||||
|
|
|
|
|
|