Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income (Loss)

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Accumulated Other Comprehensive Income (Loss)
 6 Months Ended
Jun. 30, 2014
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss)

10. Accumulated Other Comprehensive Income (Loss)

The changes in accumulated other comprehensive income (loss) for the six-month period ended June 30, 2014 is as follows:

 

     Changes in Accumulated Other Comprehensive
Income (Loss) by Component
for the Six Months Ended June 30, 2014 		 
     Gains and
Losses on
Cash Flow
Hedges 		    Defined
Benefit
Pension
Plan 		     Total
Accumulated
Other
Comprehensive
Income (Loss) 		 
     (In thousands)  

Balance at December 31, 2013

    $ (8,859 )    $ 277       $ (8,582 ) 

Other comprehensive income (loss) before reclassifications (1)

      (2,959 )      —           (2,959 ) 

Amounts reclassified out of accumulated other comprehensive income (loss) (2)

      3,694        —           3,694   
  

 

 

    

 

 

     

 

 

  

Net current-period other comprehensive income (loss)

      735        —           735   
  

 

 

    

 

 

     

 

 

  

Balance at June 30, 2014

    $ (8,124 )    $ 277       $ (7,847 ) 
  

 

 

    

 

 

     

 

 

  

 

(1) Net of tax benefit of $1,813.
(2) Net of tax expense of $2,264.

See the heading “Derivative Instruments and Hedging Activities” in Note 6, “Long-Term Debt,” for further discussion of Sonic’s cash flow hedges. For further discussion of Sonic’s defined benefit pension plan, see Note 10, “Employee Benefit Plans,” of the Notes to Consolidated Financial Statements in Sonic’s Annual Report on Form 10-K for the year ended December 31, 2013.