DIAMOND OFFSHORE DRILLING INC | 2013 | FY | 3


10. Other Comprehensive Income (Loss)

The following table sets forth the components of “Other comprehensive income (loss)” and the related income tax effects thereon for the three years ended December 31, 2013 and the cumulative balances in AOCGL by component at December 31, 2013, 2012 and 2011.

 

     Unrealized Gain (Loss) on         
     Derivative
Financial
Instruments
     Marketable
Securities
     Total
AOCGL
 
     (In thousands)  

Balance at January 1, 2011

   $ 2,733       $ 408       $ 3,141   

Unrealized gain (loss) before reclassifications, after tax of $337 and $15

     (625      (46      (671

Reclassification adjustments for items included in Net Income, after tax of $3,623 and $205

     (6,728      (384      (7,112
  

 

 

    

 

 

    

 

 

 

Total other comprehensive income (loss)

     (7,353      (430      (7,783
  

 

 

    

 

 

    

 

 

 

Balance at December 31, 2011

     (4,620      (22      (4,642

Unrealized gain (loss) before reclassifications, after tax of $(2,282) and $(28)

     4,237         124         4,361   

Reclassification adjustments for items included in Net Income, after tax of $(1,472) and $(1)

     2,733         44         2,777   
  

 

 

    

 

 

    

 

 

 

Total other comprehensive income (loss)

     6,970         168         7,138   
  

 

 

    

 

 

    

 

 

 

Balance at December 31, 2012

     2,350         146         2,496   

Unrealized gain (loss) before reclassifications, after tax of $3,682 and $18

     (6,833      (6      (6,839

Reclassification adjustments for items included in Net Income, after tax of $(2,608) and $18

     4,840         (147      4,693   
  

 

 

    

 

 

    

 

 

 

Total other comprehensive income (loss)

     (1,993      (153      (2,146
  

 

 

    

 

 

    

 

 

 

Balance at December 31, 2013

   $ 357       $ (7    $ 350   
  

 

 

    

 

 

    

 

 

 

The following table presents the line items in our Consolidated Statements of Operations affected by reclassification adjustments out of AOCGL.

 

Major Components of AOCGL

   Year Ended December 31,      Consolidated Statements of
Operations Line Items
     2013      2012      2011       
     (In thousands)       

Derivative financial instruments:

Unrealized (gain) loss on FOREX contracts

   $ (7,449    $ (4,205    $ 10,351       Contract drilling, excluding
depreciation

Unrealized loss (gain) on Treasury Lock Agreements

     1                       Interest expense
     2,608         1,472         (3,623    Income tax expense
  

 

 

    

 

 

    

 

 

    
   $ (4,840    $ (2,733    $ 6,728       Net of tax
  

 

 

    

 

 

    

 

 

    

Marketable securities:

Unrealized (gain) loss on marketable securities

   $ 165       $ (45    $ 589       Other, net
     (18      1         (205    Income tax expense
  

 

 

    

 

 

    

 

 

    
   $ 147       $ (44    $ 384       Net of tax

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