Note 27: Comprehensive Income
The components of total comprehensive income were as follows:
(In Millions) |
2011 |
|
2010 |
|
2009 |
Net income |
$ |
12,942 |
|
$ |
11,464 |
|
$ |
4,369 |
Other comprehensive income (loss) |
|
(1,114) |
|
|
(60) |
|
|
786 |
Total comprehensive income |
$ |
11,828 |
|
$ |
11,404 |
|
$ |
5,155 |
The components of other comprehensive income (loss) and related tax effects were as follows:
|
|
2011 |
|
2010 |
|
2009 |
|
|
Before |
|
|
|
Net of |
|
Before |
|
|
|
Net of |
|
Before |
|
|
|
Net of |
(In Millions)
|
Tax |
|
Tax |
|
Tax |
|
Tax |
|
Tax |
|
Tax |
|
Tax |
|
Tax |
|
Tax |
Change in unrealized holding
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
gain (loss) on investments
|
$ |
35 |
|
$ |
(13) |
|
$ |
22 |
|
$ |
311 |
|
$ |
(111) |
|
$ |
200 |
|
$ |
578 |
|
$ |
(210) |
|
$ |
368 |
Less: adjustment for (gain) loss on
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
investments included in net income
|
|
(299) |
|
|
107 |
|
|
(192) |
|
|
(94) |
|
|
34 |
|
|
(60) |
|
|
50 |
|
|
(18) |
|
|
32 |
Change in deferred tax asset
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
valuation allowance
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
72 |
|
|
72 |
|
|
— |
|
|
152 |
|
|
152 |
Less: adjustment for (gain) loss on
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
deferred tax asset valuation
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
allowance included in net income
|
|
— |
|
|
(99) |
|
|
(99) |
|
|
— |
|
|
(15) |
|
|
(15) |
|
|
— |
|
|
(6) |
|
|
(6) |
Change in unrealized holding
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
gain (loss) on derivatives
|
|
20 |
|
|
(16) |
|
|
4 |
|
|
73 |
|
|
(23) |
|
|
50 |
|
|
75 |
|
|
(4) |
|
|
71 |
Less: adjustment for amortization
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
of (gain) loss on derivatives
|
|
(161) |
|
|
38 |
|
|
(123) |
|
|
(80) |
|
|
17 |
|
|
(63) |
|
|
22 |
|
|
(1) |
|
|
21 |
Change in prior service costs
|
|
— |
|
|
— |
|
|
— |
|
|
(67) |
|
|
24 |
|
|
(43) |
|
|
21 |
|
|
(7) |
|
|
14 |
Less: adjustment for amortization
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
of prior service costs
|
|
7 |
|
|
(3) |
|
|
4 |
|
|
7 |
|
|
(3) |
|
|
4 |
|
|
(1) |
|
|
— |
|
|
(1) |
Change in actuarial loss
|
|
(900) |
|
|
284 |
|
|
(616) |
|
|
(300) |
|
|
81 |
|
|
(219) |
|
|
132 |
|
|
(15) |
|
|
117 |
Less: adjustment for amortization
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
of actuarial loss
|
|
43 |
|
|
(15) |
|
|
28 |
|
|
22 |
|
|
(8) |
|
|
14 |
|
|
26 |
|
|
(8) |
|
|
18 |
Change in net foreign currency
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
translation adjustment
|
|
(155) |
|
|
13 |
|
|
(142) |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
Total other comprehensive income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(loss)
|
$ |
(1,410) |
|
$ |
296 |
|
$ |
(1,114) |
|
$ |
(128) |
|
$ |
68 |
|
$ |
(60) |
|
$ |
903 |
|
$ |
(117) |
|
$ |
786 |
The change in deferred tax asset valuation allowance in the preceding table is related to the reversal of a portion of our deferred tax asset valuation allowance attributed to changes in unrealized holding gains on our available-for-sale investments. The amount is reduced and included in our provision for taxes as these investments are sold or mature.
The components of accumulated other comprehensive income (loss), net of tax, were as follows:
(In Millions) |
2011 |
|
2010 |
Accumulated net unrealized holding gain (loss) on available-for-sale investments |
$ |
231 |
|
$ |
401 |
Accumulated net deferred tax asset valuation allowance |
|
104 |
|
|
203 |
Accumulated net unrealized holding gain on derivatives |
|
8 |
|
|
127 |
Accumulated net prior service costs |
|
(32) |
|
|
(36) |
Accumulated net actuarial losses |
|
(950) |
|
|
(362) |
Accumulated net foreign currency translation adjustment |
|
(142) |
|
|
— |
Total accumulated other comprehensive income (loss) |
$ |
(781) |
|
$ |
333 |
The estimated net prior service cost and actuarial loss for the defined benefit plan that will be amortized from accumulated other comprehensive income (loss) into net periodic benefit cost during 2012 are $5 million and $91 million, respectively.
|