Annual report pursuant to Section 13 and 15(d)

Accumulated Other Comprehensive Income (Loss)

v3.3.1.900
Accumulated Other Comprehensive Income (Loss)
 12 Months Ended
Dec. 31, 2015
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, 2015 are as follows:

 

 

 

Changes in Accumulated Other Comprehensive

Income (Loss) by Component

for the Year Ended December 31, 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)

 

 

(4,679

)

 

 

457

 

 

 

(4,222

)

    Amounts reclassified out of accumulated

       other comprehensive income (loss) (2)

 

 

5,014

 

 

 

-

 

 

 

5,014

 

Net current-period other comprehensive income (loss)

 

 

335

 

 

 

457

 

 

 

792

 

Balance at December 31, 2015

 

$

(5,638

)

 

$

6

 

 

$

(5,632

)

(1)

Net of tax benefit of $2,868 related to gains and losses on cash flow hedges, and tax expense of $280 related to the defined benefit pension plan.

(2)

Net of tax expense of $3,073.

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.”