Читать книгу Wiley GAAP: Financial Statement Disclosure Manual - Joanne M. Flood - Страница 64
Example 5.5: Combined Statement of Income and Comprehensive Income with “Gross of Tax” Presentation
Оглавление| Hypothetical Corporation Statement of Comprehensive Income for the Year Ended December 31, 20X1 ($000 omitted) | ||
| Sales | $395,400 | |
| Expenses | (251,220) | |
| Other gains and losses | 1,500 | |
| Income from operations before tax | 145,680 | |
| Income tax expense | (62,430) | |
| Net earnings | 83,250 | |
| Earnings per share | ||
| Basic and diluted 0.73 | ||
| Other comprehensive income | ||
| Foreign currency translation adjustment | 17,000 | |
| Unrealized gains on debt securities: | ||
| Unrealized holding gains arising during period | 25,000 | |
| Less: Reclassification adjustment for gain included currently in net income | (5,000) | 20,000 |
| Cash flow hedges | ||
| Net derivative losses arising during the period | (16,000) | |
| Less: Reclassification adjustment for losses included currently in net income | 25,875 | 9,875 |
| Defined benefit plans adjustment9 | ||
| Prior service cost arising during period | (3,900) (a) | |
| Net loss arising during period | (2,900) (a) | |
| Less: Amortization of prior service cost included | 300 (a) | (6,500) |
| with net period pension cost | 40,375 | |
| Other comprehensive income, before tax | (12,112) | |
| Income tax expense related to items of other comprehensive income | 28,263 | |
| Other comprehensive income, net of tax | ||
| Comprehensive income | $111,513 |
These AOCI components are components of net periodic pension cost (see pension note for additional details).
If the “gross” approach illustrated above is used, it is also necessary to present in the notes to the financial statements details regarding the allocation of the tax effects to the several items included in other comprehensive income. An example of that note disclosure follows.
