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, 2015
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss)

10. Accumulated Other Comprehensive Income (Loss)

The changes in accumulated other comprehensive income (loss) for the six months ended June 30, 2015 are as follows:

 

 

 

Changes in Accumulated Other Comprehensive

Income (Loss) by Component

for the Six Months Ended June 30, 2015

 

 

 

Gains and

Losses on

Cash Flow

Hedges

 

 

Defined

Benefit

Pension

Plan

 

 

Total

Accumulated

Other

Comprehensive

Income (Loss)

 

 

 

(In thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at December 31, 2014

 

$

(5,973

)

 

$

(451

)

 

$

(6,424

)

Other comprehensive income (loss) before reclassifications (1)

 

 

(2,922

)

 

 

-

 

 

 

(2,922

)

    Amounts reclassified out of accumulated

       other comprehensive income (loss) (2)

 

 

2,891

 

 

 

-

 

 

 

2,891

 

Net current-period other comprehensive income (loss)

 

 

(31

)

 

 

-

 

 

 

(31

)

Balance at June 30, 2015

 

$

(6,004

)

 

$

(451

)

 

$

(6,455

)

 

(1)         Net of tax benefit of $1,791.

(2)         Net of tax expense of $1,772.

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 the consolidated financial statements in Sonic’s Annual Report on Form 10-K for the year ended December 31, 2014.