Graham Holdings Co | 2013 | FY | 3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)
The other comprehensive income (loss) consists of the following components:
 
Year Ended December 31, 2013
 
Before-Tax
 
Income
 
After-Tax
(in thousands)
Amount
 
Tax
 
Amount
Foreign currency translation adjustments:
  
 
  
 
  
Translation adjustments arising during the year
$
(1,059
)
 
—

 
$
(1,059
)
Unrealized gains on available-for-sale securities:
 
 
  
 
  
Unrealized gains for the year
95,629

 
(38,251
)
 
57,378

Reclassification adjustment for write-down on available-for-sale securities, net of gain, included in net income
9,554

 
(3,822
)
 
5,732

 
105,183

 
(42,073
)
 
63,110

Pension and other postretirement plans:
  
 
  
 
  
Actuarial gain
762,806

 
(305,123
)
 
457,683

Amortization of net actuarial loss included in net income
3,096

 
(1,238
)
 
1,858

Amortization of net prior service credit included in net income
(1,383
)
 
553

 
(830
)
Curtailments and settlements
(124,051
)
 
49,617

 
(74,434
)
 
640,468

 
(256,191
)
 
384,277

Cash flow hedge:
 
 
 
 
 
Gain for the year
520

 
(208
)
 
312

Other Comprehensive Income
$
745,112

 
$
(298,472
)
 
$
446,640

 
Year Ended December 31, 2012
 
Before-Tax
 
Income
 
After-Tax
(in thousands)
Amount
 
Tax
 
Amount
Foreign currency translation adjustments:
 
 
 
 
 
Translation adjustments arising during the year
$
5,622

 
—

 
$
5,622

Adjustment for sales of businesses with foreign operations
(888
)
 
—

 
(888
)
 
4,734

 
—

 
4,734

Unrealized gains on available-for-sale securities:
  
 
  
 
  
Unrealized gains for the year
33,098

 
(13,239
)
 
19,859

Reclassification adjustment for write-down on available-for-sale securities, net of gain, included in net income
17,226

 
(6,890
)
 
10,336

 
50,324

 
(20,129
)
 
30,195

Pension and other postretirement plans:
 
 
 
 
 
Actuarial gain
82,470

 
(32,987
)
 
49,483

Amortization of net actuarial loss included in net income
9,368

 
(3,746
)
 
5,622

Amortization of net prior service credit included in net income
(1,859
)
 
744

 
(1,115
)
Other adjustments
(745
)
 
299

 
(446
)
 
89,234

 
(35,690
)
 
53,544

Cash flow hedge:
 
 
 
 
 
Loss for the year
(1,581
)
 
633

 
(948
)
Other Comprehensive Income
$
142,711

 
$
(55,186
)
 
$
87,525

 
Year Ended December 31, 2011
 
Before-Tax
 
Income
 
After-Tax
(in thousands)
Amount
 
Tax
 
Amount
Foreign currency translation adjustments:
 
 
 
 
 
Translation adjustments arising during the year
$
(21,375
)
 
5,107

 
$
(16,268
)
Unrealized gains on available-for-sale securities:
  
 
  
 
  
Unrealized losses for the year
(37,708
)
 
15,084

 
(22,624
)
Reclassification adjustment for write-down on available-for-sale securities, net of gain, included in net income
53,793

 
(21,518
)
 
32,275

 
16,085

 
(6,434
)
 
9,651

Pension and other postretirement plans:
 
 
 
 
 
Actuarial loss
(16,048
)
 
6,420

 
(9,628
)
Amortization of net actuarial gain included in net income
(510
)
 
204

 
(306
)
Amortization of net prior service credit included in net income
(3,925
)
 
1,570

 
(2,355
)
Foreign affiliate pension adjustments
2,088

 
—

 
2,088

 
(18,395
)
 
8,194

 
(10,201
)
Cash flow hedge:
 
 
 
 
 
Gain for the year
14

 
(6
)
 
8

Other Comprehensive Loss
$
(23,671
)
 
$
6,861

 
$
(16,810
)

The accumulated balances related to each component of other comprehensive income (loss) are as follows:
(in thousands, net of taxes)
Cumulative
Foreign
Currency
Translation
Adjustment
 
Unrealized Gain
on Available-for-
Sale Securities
 
Unrealized Gain
on Pensions
and Other
Postretirement
Plans
 
Cash Flow
Hedge
 
Accumulated
Other
Comprehensive
Income
As of December 31, 2011
$
21,338

 
$
80,358

 
$
63,625

 
$
8

 
$
165,329

Other comprehensive income (loss) before reclassifications
5,622

 
19,859

 
49,037

 
(1,132
)
 
73,386

Net amount reclassified from accumulated other comprehensive income
(888
)
 
10,336

 
4,507

 
184

 
14,139

Net other comprehensive income (loss)
4,734

 
30,195

 
53,544

 
(948
)
 
87,525

As of December 31, 2012
26,072

 
110,553

 
117,169

 
(940
)
 
252,854

Other comprehensive income (loss) before reclassifications
(1,059
)
 
57,378

 
383,249

 
(178
)
 
439,390

Net amount reclassified from accumulated other comprehensive income
—

 
5,732

 
1,028

 
490

 
7,250

Net other comprehensive income (loss)
(1,059
)
 
63,110

 
384,277

 
312

 
446,640

As of December 31, 2013
$
25,013

 
$
173,663

 
$
501,446

 
$
(628
)
 
$
699,494


The amounts and line items of reclassifications out of Accumulated Other Comprehensive Income are as follows:
 
Year Ended December 31
 
Affected Line Item in the Consolidated Statement of Operations
(in thousands)
2013
 
2012
 
2011
 
Foreign Currency Translation Adjustments:
  
 
  
 
 
 
  
Adjustment for sales of businesses with foreign operations
$
—

 
$
(888
)
 
$
—

 
Income (loss) from discontinued operations, net of tax
Unrealized Gains on Available-for-sale Securities:
  
 
  
 
 
 
  
Write-downs on available-for-sale securities, net of gains
9,554

 
17,226

 
53,793

 
Other expense, net
 
(3,822
)
 
(6,890
)
 
(21,518
)
 
Provision for Income Taxes
 
5,732

 
10,336

 
32,275

 
Net of Tax
Pension and Other Postretirement Plans:
 
 
  
 
 
 
  
Amortization of net actuarial loss (gain)
3,096

 
9,368

 
(510
)
 
(1)
Amortization of net prior service credit
(1,383
)
 
(1,859
)
 
(3,925
)
 
(1)
 
1,713

 
7,509

 
(4,435
)
 
Before tax
 
(685
)
 
(3,002
)
 
1,774

 
Income Taxes
 
1,028

 
4,507

 
(2,661
)
 
Net of Tax
Cash Flow Hedge
 
 
  
 
 
 
  
 
816

 
306

 
(40
)
 
Interest expense
 
(326
)
 
(122
)
 
16

 
Provision for Income Taxes
 
490

 
184

 
(24
)
 
Net of Tax
Total reclassification for the year
$
7,250

 
$
14,139

 
$
29,590

 
Net of Tax
____________
(1)      These accumulated other comprehensive income components are included in the computation of net periodic pension and postretirement plan cost (see Note 14).

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