Quarterly report pursuant to Section 13 or 15(d)

Accumulated Other Comprehensive Income (Loss)

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Accumulated Other Comprehensive Income (Loss)
3 Months Ended
Mar. 31, 2014
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss)

10. Accumulated Other Comprehensive Income (Loss)

The change in accumulated other comprehensive income (loss) for the first quarter ended March 31, 2014 is as follows:

 

     Changes in Accumulated Other Comprehensive
Income (Loss) by Component for the First
Quarter Ended March 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)

     (805     0         (805

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

     1,842        0         1,842   
  

 

 

   

 

 

    

 

 

 

Net current-period other comprehensive income (loss)

     1,037        0         1,037   
  

 

 

   

 

 

    

 

 

 

Balance at March 31, 2014

   $ (7,822   $ 277       $ (7,545
  

 

 

   

 

 

    

 

 

 

 

(1) Net of tax benefit of $493.
(2) Net of tax expense of $1,129.

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,” to the Consolidated Financial Statements in Sonic’s Annual Report on Form 10-K for the year ended December 31, 2013.