Annual report pursuant to Section 13 and 15(d)

Accumulated Other Comprehensive Income (Loss)

v2.4.1.9
Accumulated Other Comprehensive Income (Loss)
 12 Months Ended
Dec. 31, 2014
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss)

13. Accumulated Other Comprehensive Income (Loss)

The changes in accumulated other comprehensive income (loss) for the year ended December 31, 2014 are as follows:

 

 

 

 

Changes in Accumulated Other Comprehensive

Income (Loss) by Component

for the Year Ended December 31, 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)

 

 

(3,841

)

 

 

(728

)

 

 

(4,569

)

Amounts reclassified out of accumulated

 

 

 

 

 

 

 

 

 

 

 

 

other comprehensive income (loss) (2)

 

 

6,727

 

 

 

-

 

 

 

6,727

 

Net current-period other comprehensive income (loss)

 

 

2,886

 

 

 

(728

)

 

 

2,158

 

Balance at December 31, 2014

 

$

(5,973

)

 

$

(451

)

 

$

(6,424

)

(1)

Net of tax benefit of $2,354 related to gains and losses on cash flow hedges, and $446 related to the defined benefit pension plan.

(2)

Net of tax expense of $4,123.

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.”