Annual report pursuant to Section 13 and 15(d)

Accumulated Other Comprehensive Income (Loss)

v3.8.0.1
Accumulated Other Comprehensive Income (Loss)
 12 Months Ended
Dec. 31, 2017
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss)

13. Accumulated Other Comprehensive Income (Loss)

The changes in accumulated other comprehensive income (loss) by component for 2017 are as follows:

 

 

 

Gains and

Losses on

Cash Flow

Hedges

 

 

Defined

Benefit

Pension

Plan

 

 

Total

Accumulated

Other

Comprehensive

Income (Loss)

 

 

 

 

(In thousands)

 

 

Balance at December 31, 2016

 

$

(2,085

)

 

$

(177

)

 

$

(2,262

)

 

Other comprehensive income (loss) before reclassifications (1)

 

 

1,718

 

 

 

(266

)

 

 

1,452

 

 

    Amounts reclassified out of accumulated

       other comprehensive income (loss) (2)

 

 

2,117

 

 

 

-

 

 

 

2,117

 

 

Net current-period other comprehensive income (loss)

 

 

3,835

 

 

 

(266

)

 

 

3,569

 

 

Balance at December 31, 2017

 

$

1,750

 

 

$

(443

)

 

$

1,307

 

 

(1)

Net of tax expense of $1,053 related to gains on cash flow hedges and tax benefit of $163 related to the defined benefit pension plan.

(2)

Net of tax expense of $1,298 related to gains on cash flow hedges.

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.”