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Notes to Consolidated Financial Statements
The components of Accumulated other comprehensive loss are as follows:
Generally, the net assets of foreign operations are translated into U.S. dollars using current exchange rates. The U.S. dollar results that arise from such translation, as well as exchange gains and losses on intercompany balances of a long-term investment nature, are included in the cumulative currency translation adjustments in Accumulated other comprehensive loss. The income tax provision recorded in fiscal year 2002 for the unrealized gains on investments was $2,800, while in fiscal year 2001 there was an income tax benefit of $2,500 on the unrealized losses on investments. The income tax benefits recorded in fiscal years 2002 and 2001 for cash flow hedges were $1,900 and $2,800, respectively. The income tax benefit amounts recorded in fiscal year 2002 for the minimum pension liability adjustment were $52,600. Income taxes are generally not provided for translation adjustments. The unrealized gains on investments included in other comprehensive loss for 2002 are net of reclassification adjustments of $8,000, net of tax, for recognized losses as defined by SFAS No. 115. The tax expense associated with these reclassification adjustments was $5,600. Reclassification adjustments related to investments were not significant in fiscal 2001. The unrealized losses on cash flow hedges included in other comprehensive loss for 2002 and 2001 are net of reclassification adjustments of $4,200 and $5,000, net of tax, respectively, for realized hedge gains recorded to revenues. These amounts had been included in Accumulated other comprehensive loss in prior periods. The tax expense associated with these reclassification adjustments was $2,900 and $3,500, respectively. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||