Note 16: Other Comprehensive Income (Loss)
The changes in accumulated other comprehensive income (loss) by component and related tax effects for each period were as follows:
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|
|
|
|
|
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|
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|
|
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|
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|
|
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|
|
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|
(In Millions) |
|
Unrealized Holding Gains (Losses) on Available-for-Sale Investments |
|
Deferred Tax Asset Valuation Allowance |
|
Unrealized Holding Gains (Losses) on Derivatives |
|
Actuarial Valuation and Other Pension Expenses |
|
Foreign Currency Translation Adjustment |
|
Total |
December 26, 2015 |
|
$ |
1,749 |
|
|
$ |
8 |
|
|
$ |
(266 |
) |
|
$ |
(916 |
) |
|
$ |
(515 |
) |
|
$ |
60 |
|
Other comprehensive income (loss) before reclassifications |
|
1,170 |
|
|
— |
|
|
(26 |
) |
|
(680 |
) |
|
(4 |
) |
|
460 |
|
Amounts reclassified out of accumulated other comprehensive income (loss) |
|
(530 |
) |
|
— |
|
|
38 |
|
|
170 |
|
|
— |
|
|
(322 |
) |
Tax effects |
|
(225 |
) |
|
(8 |
) |
|
(5 |
) |
|
146 |
|
|
— |
|
|
(92 |
) |
Other comprehensive income (loss) |
|
415 |
|
|
(8 |
) |
|
7 |
|
|
(364 |
) |
|
(4 |
) |
|
46 |
|
December 31, 2016 |
|
2,164 |
|
|
— |
|
|
(259 |
) |
|
(1,280 |
) |
|
(519 |
) |
|
106 |
|
Other comprehensive income (loss) before reclassifications |
|
2,760 |
|
|
— |
|
|
605 |
|
|
275 |
|
|
3 |
|
|
3,643 |
|
Amounts reclassified out of accumulated other comprehensive income (loss) |
|
(3,431 |
) |
|
— |
|
|
(69 |
) |
|
103 |
|
|
507 |
|
|
(2,890 |
) |
Tax effects |
|
235 |
|
|
— |
|
|
(171 |
) |
|
(61 |
) |
|
— |
|
|
3 |
|
Other comprehensive income (loss) |
|
(436 |
) |
|
— |
|
|
365 |
|
|
317 |
|
|
510 |
|
|
756 |
|
December 30, 2017 |
|
$ |
1,728 |
|
|
$ |
— |
|
|
$ |
106 |
|
|
$ |
(963 |
) |
|
$ |
(9 |
) |
|
$ |
862 |
|
The amounts reclassified out of accumulated other comprehensive income (loss) into the consolidated statements of income for each period were as follows:
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income Before Taxes Impact for Years Ended
(In Millions)
|
Comprehensive Income Components |
|
Location |
|
Dec 30, 2017 |
|
Dec 31, 2016 |
|
Dec 26, 2015 |
Unrealized holding gains (losses)1 on available-for-sale investments:
|
|
|
|
|
|
|
|
|
|
|
Gains (losses) on equity investments, net |
|
$ |
3,431 |
|
|
$ |
530 |
|
|
$ |
93 |
|
|
|
|
|
3,431 |
|
|
530 |
|
|
93 |
|
Unrealized holding gains (losses) on derivatives: |
|
|
|
|
|
|
|
|
Foreign currency contracts |
|
Cost of sales |
|
(65 |
) |
|
(65 |
) |
|
(290 |
) |
|
|
Research and development |
|
45 |
|
|
7 |
|
|
(177 |
) |
|
|
Marketing, general and administrative |
|
7 |
|
|
5 |
|
|
(46 |
) |
|
|
Gains (losses) on equity investments, net |
|
57 |
|
|
11 |
|
|
— |
|
|
|
Interest and other, net |
|
25 |
|
|
4 |
|
|
(9 |
) |
|
|
|
|
69 |
|
|
(38 |
) |
|
(522 |
) |
Amortization of pension and postretirement benefit components: |
|
|
|
|
|
|
|
|
Actuarial valuation and other pension expenses |
|
|
|
(103 |
) |
|
(170 |
) |
|
(77 |
) |
|
|
|
|
(103 |
) |
|
(170 |
) |
|
(77 |
) |
Currency translation adjustment |
|
Interest and other, net |
|
(507 |
) |
|
— |
|
|
— |
|
Total amounts reclassified out of accumulated other comprehensive income (loss) |
|
|
|
$ |
2,890 |
|
|
$ |
322 |
|
|
$ |
(506 |
) |
|
|
1 |
We determine the cost of the investment sold based on an average cost basis at the individual security level. |
The amortization of pension and postretirement benefit components is included in the computation of net periodic benefit cost. For more information, see "Note 18: Retirement Benefit Plans."
We estimate that we will reclassify approximately $108 million (before taxes) of net derivative gains included in accumulated other comprehensive income (loss) into earnings within the next 12 months.
During the second quarter of 2017, we reclassified $507 million (before taxes) of currency translation adjustment losses included in accumulated other comprehensive income (loss) into earnings as a result of our divestiture of ISecG. For more information, see "Note 10: Acquisitions and Divestitures."
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