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29. Other comprehensive income (loss)
- 14. Cash and cash equivalents
- 15. Trade accounts receivable
- 16. Inventories
- 17. Other current and non-current assets
- 18. Property, plant and equipment
- 19. Goodwill and other intangible assets
- 20. Accrued expenses
- 21. Other liabilities
- 22. Debt and capital lease obligations
- 23. Senior Notes
- 24. Mandatory Exchangeable Bonds
- 25. Trust preferred securities
- 26. Pensions and similar obligations
- 27. Noncontrolling interest
- 28. Fresenius SE & Co. KGaA shareholders’ equity
- 29. Other comprehensive income (loss)
29. Other comprehensive income (loss)
Other comprehensive income (loss) comprises all amounts recognized directly in equity (net of tax) resulting from the currency translation of foreign subsidiaries’ financial statements and the effects of measuring financial instruments at their fair value as well as the change in benefit obligation.
Changes in the components of other comprehensive income (loss) in 2012 and 2011 were as follows:
enlarge| € in millions | Amount before taxes | Tax effect | Total before noncontrolling interest after taxes | Noncontrolling interest | Total after taxes |
|---|---|---|---|---|---|
| Cash flow hedges | -26 | 5 | -21 | -33 | -54 |
| Change in unrealized gains/losses | -35 | 9 | -26 | -34 | -60 |
| Realized gains/losses due to reclassifications | 9 | -4 | 5 | 1 | 6 |
| Change of fair value of available for sale financial assets | -8 | - | -8 | - | -8 |
| Foreign currency translation | -13 | 35 | 22 | 53 | 75 |
| Actuarial losses on defined benefit pension plans | -22 | 8 | -14 | -27 | -41 |
| Total changes 2011 | -69 | 48 | -21 | -7 | -28 |
| Cash flow hedges | 28 | -5 | 23 | -1 | 22 |
| Change in unrealized gains/losses | 15 | -4 | 11 | -8 | 3 |
| Realized gains/losses due to reclassifications | 13 | -1 | 12 | 7 | 19 |
| Change of fair value of available for sale financial assets | -9 | - | -9 | - | -9 |
| Foreign currency translation | -82 | 2 | -80 | -82 | -162 |
| Actuarial losses on defined benefit pension plans | -106 | 30 | -76 | -36 | -112 |
| Total changes 2012 | -169 | 27 | -142 | -119 | -261 |
Changes in accumulated other comprehensive income (loss) net of tax by component in 2012 and 2011 were as follows:
| € in millions | Gains/losses on cash flow hedges | Change of fair value of available for sale financial assets | Foreign currency translation | Pension obligations | Total, before noncontrolling interest | Noncontrolling interest | Total |
|---|---|---|---|---|---|---|---|
| Balance December 31, 2010 | -124 | - | 226 | -67 | 35 | 139 | 174 |
| Other comprehensive income before reclassifications | -26 | -8 | 22 | -17 | -29 | -11 | -40 |
| Amounts reclassified from accumulated other comprehensive income | 5 | 0 | - | 3 | 8 | 4 | 12 |
| Net current-period other comprehensive income | -21 | -8 | 22 | -14 | -21 | -7 | -28 |
| Balance December 31, 2011 | -145 | -8 | 248 | -81 | 14 | 132 | 146 |
| Other comprehensive income before reclassifications | 11 | -9 | -80 | -83 | -161 | -232 | -293 |
| Amounts reclassified from accumulated other comprehensive income | 12 | 0 | - | 7 | 19 | 13 | 32 |
| Net current-period other comprehensive income | 23 | -9 | -80 | -76 | -142 | -119 | -261 |
| Balance December 31, 2012 | -122 | -17 | 168 | -157 | -128 | 13 | -115 |
Reclassifications out of accumulated other comprehensive income (loss) in 2012 and 2011 were as follows:
| Amount of gain or loss reclassified from accumulated other comprehensive (income) loss | |||
|---|---|---|---|
| € in millions | 2012 | 2011 | Affected line item in the consolidated statement of income |
| 1 Net periodic benefit cost is allocated as personnel expense within cost of sales or selling, general and administrative expenses as well as research and development expenses. | |||
| Details about accumulated other comprehensive (income) loss components | |||
| Gains/losses on cash flow hedges | |||
| Interest rate contracts | 29 | 14 | Interest income/expense |
| Foreign exchange contracts | -4 | -3 | Cost of sales |
| Foreign exchange contracts | -3 | -1 | Selling, general and administrative expenses |
| Foreign exchange contracts | - | 0 | Interest income/expense |
| Total before tax | 22 | 10 | |
| Tax expense or benefit | -3 | -4 | |
| Net of tax | 19 | 6 | |
| Amortization of defined benefit pension items | |||
| Prior service costs | 5 | - | 1 |
| Transition obligations | - | - | 1 |
| Actuarial gains and losses | 15 | 8 | 1 |
| Total before tax | 20 | 8 | |
| Tax expense or benefit | -7 | -2 | |
| Net of tax | 13 | 6 | |
| Total reclassifications for the period | 32 | 12 | |
Continue reading:
30. Commitments and contingent liabilities
30. Commitments and contingent liabilities