AUTOZONE INC | 2013 | FY | 3


Note G – Accumulated Other Comprehensive Loss

Accumulated other comprehensive loss includes certain adjustments to pension liabilities, foreign currency translation adjustments, certain activity for interest rate swaps and treasury rate locks that qualify as cash flow hedges and unrealized gains (losses) on available-for-sale securities. Changes in Accumulated other comprehensive loss, net of tax, consisted of the following:

 

(in thousands)

   Pension
Liability
    Foreign
Currency (1)
    Unrealized
Gain on
Securities
    Derivatives     Total  

Balance at August 27, 2011

   $ (76,705   $ (36,401   $ 479      $ (7,064   $ (119,691

Fiscal 2012 activity

     (17,262     (13,866     (128     (1,066     (32,322
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance at August 25, 2012

     (93,967     (50,267     351        (8,130     (152,013

Fiscal 2013 activity

     43,106        (12,216     (376     711        31,225   
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Balance at August 31, 2013

   $ (50,861   $ (62,483   $ (25   $ (7,419   $ (120,788
  

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

 

(1) Foreign currency is not shown net of tax as earnings of non-U.S. subsidiaries are intended to be permanently reinvested.

The fiscal 2013 pension adjustment of $43.1 million reflects actuarial gains not yet reflected in periodic pension cost primarily driven by a higher discount rate at August 31, 2013.


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