Annual report pursuant to Section 13 and 15(d)

Accumulated Other Comprehensive Income (Loss)

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Accumulated Other Comprehensive Income (Loss)
 12 Months Ended
Dec. 31, 2013
Text Block [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, 2013 are as follows:

 

     Changes in Accumulated Other Comprehensive
Income (Loss) by Component
for the Year Ended December 31, 2013		  
     Gains and
Losses on
Cash
Flow
Hedges		     Defined
Benefit
Pension
Plan		     Total
Accumulated
Other
Comprehensive
Income (Loss)		  
     (In thousands)  

Balance at December 31, 2012

    $ (19,488 )    $ (475 )    $ (19,963 ) 

Other comprehensive income (loss) before reclassifications(1)

      3,329        752        4,081   

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

      7,300        —        7,300   
  

 

 

    

 

 

    

 

 

  

Net current-period other comprehensive income (loss)

      10,629        752        11,381   
  

 

 

    

 

 

    

 

 

  

Balance at December 31, 2013

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

 

 

    

 

 

    

 

 

  

 

(1) Net of tax expense of $2,040 related to gains and losses on cash flow hedges, and $460 related to the defined benefit pension plan.

 

(2) Net of tax expense of $4,474.

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.”