FRONTIER COMMUNICATIONS CORP | 2013 | FY | 3


(14) Comprehensive Income:

Comprehensive income consists of net income and other gains and losses affecting shareholders’ investment and pension/postretirement benefit (OPEB) liabilities that, under U.S. GAAP, are excluded from net income.

 

The components of accumulated other comprehensive loss, net of tax at December 31, 2013, 2012 and 2011 are as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

($ in thousands)

 

Pension Costs

 

OPEB Costs

 

Deferred taxes on pension and OPEB costs

 

All other

 

Total

Balance at January 1, 2011

 

$

(349,264)

 

$

(13,369)

 

$

132,752 

 

$

332 

 

$

(229,549)

Other comprehensive income before reclassifications

 

 

(241,064)

 

 

(22,668)

 

 

100,978 

 

 

(482)

 

 

(163,236)

Amounts reclassified from accumulated other comprehensive loss

 

 

15,165 

 

 

(5,774)

 

 

(3,569)

 

 

 -

 

 

5,822 

Net current-period other comprehensive income (loss)

 

 

(225,899)

 

 

(28,442)

 

 

97,409 

 

 

(482)

 

 

(157,414)

Balance at December 31, 2011

 

 

(575,163)

 

 

(41,811)

 

 

230,161 

 

 

(150)

 

 

(386,963)

Other comprehensive income before reclassifications

 

 

(152,402)

 

 

(29,922)

 

 

68,871 

 

 

 -

 

 

(113,453)

Amounts reclassified from accumulated other comprehensive loss

 

 

29,691 

 

 

(2,531)

 

 

(10,320)

 

 

 -

 

 

16,840 

Net current-period other comprehensive income (loss)

 

 

(122,711)

 

 

(32,453)

 

 

58,551 

 

 

 -

 

 

(96,613)

Balance at December 31, 2012

 

 

(697,874)

 

 

(74,264)

 

 

288,712 

 

 

(150)

 

 

(483,576)

Other comprehensive income before reclassifications

 

 

205,341 

 

 

67,289 

 

 

(100,951)

 

 

 

 

171,681 

Amounts reclassified from accumulated other comprehensive loss

 

 

36,938 

 

 

1,745 

 

 

(14,699)

 

 

 -

 

 

23,984 

Recognition of net actuarial loss for pension settlement costs

 

 

44,163 

 

 

 -

 

 

(16,782)

 

 

 -

 

 

27,381 

Net current-period other comprehensive income (loss)

 

 

286,442 

 

 

69,034 

 

 

(132,432)

 

 

 

 

223,046 

Balance at December 31, 2013

 

$

(411,432)

 

$

(5,230)

 

$

156,280 

 

$

(148)

 

$

(260,530)

 

 

 

The significant items reclassified from each component of accumulated other comprehensive loss for the years ended December 31, 2013, 2012 and 2011 are as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

($ in thousands)

 

Amount Reclassified from

 

 

 

Accumulated Other Comprehensive Loss (a)

 

 

 

 

 

 

 

 

 

 

 

 

 

Details about Accumulated Other Comprehensive Loss Components

 

2013

 

2012

 

2011

 

Affected Line Item in the Statement Where Net Income is Presented

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of Pension Cost Items (b)

 

 

 

 

 

 

 

 

 

 

 

Prior-service costs

 

$

(8)

 

$

199 

 

$

199 

 

 

Actuarial gains/(losses)

 

 

(36,930)

 

 

(29,890)

 

 

(15,364)

 

 

Pension settlement costs

 

 

(44,163)

 

 

 -

 

 

 -

 

 

 

 

 

(81,101)

 

 

(29,691)

 

 

(15,165)

 

Income before income taxes

Tax impact

 

 

30,818 

 

 

11,282 

 

 

5,763 

 

Income tax (expense) benefit

 

 

$

(50,283)

 

$

(18,409)

 

$

(9,402)

 

Net income

Amortization of Postretirement Cost Items (b)

 

 

 

 

 

 

 

 

 

 

 

Prior-service costs

 

$

6,101 

 

$

10,068 

 

$

10,198 

 

 

Actuarial gains/(losses)

 

 

(7,846)

 

 

(7,537)

 

 

(4,424)

 

 

 

 

 

(1,745)

 

 

2,531 

 

 

5,774 

 

Income before income taxes

Tax impact

 

 

663 

 

 

(962)

 

 

(2,194)

 

Income tax (expense) benefit

 

 

$

(1,082)

 

$

1,569 

 

$

3,580 

 

Net income

 

(a) Amounts in parentheses indicate losses.

(b) These accumulated other comprehensive loss components are included in the computation of net periodic pension and postretirement benefit cost (see Note 17 - Retirement Plans for additional details).


us-gaap:ComprehensiveIncomeNoteTextBlock